The Harry Browne US Permanent Portfolio To CAD can be implemented with 4 ETFs. This portfolio has a medium risk, signifying moderate fluctuations in value. It is suitable for investors with a balanced approach to risk and return, seeking steady growth while tolerating some level of volatility.

The portfolio asset allocation is: 25% on the Stock Market, 50% on Fixed Income, 25% on Commodities. In general, bonds are useful for mitigating overall portfolio risk, especially if they are issued by national entities or highly reliable companies. This portfolio has a 50% allocation to bonds, leading to its classification as medium risk.

With the current simulation settings, as of June 2026, in the previous 30 Years:

  • the Harry Browne US Permanent Portfolio To CAD obtained a 7.11% compound annual return, with a 7.72% standard deviation. It suffered a maximum drawdown of -12.07% that required 20 months to be recovered.
Disclaimer: The simulations on this website are provided in good faith but should NOT be taken as investment advice. We are not liable for any errors or actions based on this information. The authors of the website are not affiliated with the portfolio creators, who are the sole owners of their intellectual property. The translation of asset allocations into ETFs is based on the interpretation of LazyPortfolioETF.com and may not exactly reflect the original intent of the portfolio creators. Content is for informational, educational, illustrative, and entertainment purposes only.
Book Cover: Mastering ETF Investing
LazyPortfolioETF.com Logo
Your practical guide to Building Wealth.
Master ETF Investing & maximize profits with Lazy Portfolios & Passive Strategies.
English Book Italian Book

Table of contents

Asset Allocation and ETFs

To effectively implement the asset allocation of the Harry Browne US Permanent Portfolio To CAD, investors can utilize the following selection of ETFs. These ETFs have been chosen specifically for their ability to represent each asset class within the portfolio and facilitate ease of management.

25% Stocks
50% Fixed Income
25% Commodities

Loading data
Please wait
Weight
(%)		 ETF
Ticker		 ETF
Currency		 ETF Name Investment Themes (Orig.Currency)
25.00
VUN.TO
CAD Vanguard US Total Market Index Equity, U.S., Large Cap (USD)
25.00
ZUCM.TO
CAD BMO USD Cash Management ETF Bond, U.S., Ultra Short-Term (USD)
25.00
XTLT.TO
CAD iShares 20+ Year US Treasury Bond Index Bond, U.S., Long-Term (USD)
25.00
ZGLD.TO
CAD BMO Gold Bullion ETF CAD Units Commodity, Gold (USD)

Portfolio and ETF Returns as of Jun 30, 2026

HARRY BROWNE US PERMANENT PORTFOLIO TO CAD
Capital Growth
Inflation Adj:
Swipe left to see all data
Swipe left to see all data
Swipe left to see all data
Chg (%) Return (%) Return (%) as of Jun 30, 2026
1 Day Time ET(*) --- YTD
(6M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~73Y)
Investment Return --- --- 5.08 0.12 5.08 18.43 9.96 7.92 7.11 8.24
Canada Inflation Adjusted Return 2.23 0.12 2.23 14.80 6.04 5.01 4.83 4.59
Component Returns
VUN.TO
CAD Vanguard US Total Market Index --- 0 --- 14.53 2.43 14.53 27.62 14.94 15.72 10.27 11.83
ZUCM.TO
CAD BMO USD Cash Management ETF --- 0 --- 5.29 3.24 5.29 8.17 6.30 3.17 2.35 4.68
XTLT.TO
CAD iShares 20+ Year US Treasury Bond Index --- 0 --- 4.36 4.20 4.36 5.94 -4.41 -1.18 4.76 5.97
ZGLD.TO
CAD BMO Gold Bullion ETF CAD Units --- 0 --- -3.84 -9.18 -3.84 26.01 20.54 12.32 7.97 7.09
Returns over 1 year are annualized
(*) Eastern Time (ET - America/New York)
The live monthly return is calculated by assuming, for each asset, the weight defined by the base asset allocation.
Canada Inflation is updated to May 2026. Pending updates, the monthly inflation is set at 0% for the subsequent periods. Inflation (annualized) is 1Y: 3.16% , 5Y: 3.70% , 10Y: 2.77% , 30Y: 2.17%
Swipe left to see all data

Loading data
Please wait

Loading data
Please wait

Loading data
Please wait

Loading data
Please wait

Loading data
Please wait

Learn about historical correlations here: see how the main asset classes relate to each other.

Portfolio Metrics as of Jun 30, 2026

HARRY BROWNE US PERMANENT PORTFOLIO TO CAD
Advanced Metrics
1 August 1953 - 30 June 2026 (~73 years)
Swipe left to see all data
Metrics as of Jun 30, 2026
YTD
(6M) 		1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~73Y)
Investment Return (%)
5.08 0.12 2.18 5.08 18.43 15.66 9.96 7.92 8.38 7.11 8.24
Growth of 1$ 1.05 1.00 1.02 1.05 1.18 1.55 1.61 2.14 5.00 7.85 321.43
Infl. Adjusted Return (%)
2.23 0.12 0.86 2.23 14.80 12.77 6.04 5.01 6.04 4.83 4.59
Canada Inflation (%) 2.79 0.00 1.31 2.79 3.16 2.56 3.70 2.77 2.21 2.17 3.49
Pending updates, the monthly inflation of Jun 2026 and beyond is set at 0%. Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
 Current 1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -1.21 -3.82 -3.82 -9.58 -10.43 -12.07 -12.07 -13.09
Start to Recovery (# months)
4* 4* 4* 16 40 20 20 28
Start (yyyy mm) 2026 03 2026 03 2022 01 2020 08 2007 03 2007 03 1969 06
Start to Bottom (# months) 2 2 6 23 8 8 14
Bottom (yyyy mm) 2026 04 2026 04 2022 06 2022 06 2007 10 2007 10 1970 07
Bottom to End (# months) 2 2 10 17 12 12 14
End (yyyy mm) - - 2023 04 2023 11 2008 10 2008 10 1971 09
Longest Drawdown Depth (%)
same
same
same
same		 -10.43 -10.43 -10.43
Start to Recovery (# months)
40 40 40
Start (yyyy mm) 2026 03 2026 03 2022 01 2020 08 2020 08 2020 08 2020 08
Start to Bottom (# months) 2 2 6 23 23 23 23
Bottom (yyyy mm) 2026 04 2026 04 2022 06 2022 06 2022 06 2022 06 2022 06
Bottom to End (# months) 2 2 10 17 17 17 17
End (yyyy mm) - - 2023 04 2023 11 2023 11 2023 11 2023 11
Longest negative period (# months)
4* 5 26 41 41 68 68
Start (yyyy mm) 2026 03 2025 02 2021 08 2020 05 2020 05 2002 03 2002 03
End (yyyy mm) 2026 06 2025 06 2023 09 2023 09 2023 09 2007 10 2007 10
Annualized Return (%) -3.58 -1.07 -0.33 -0.30 -0.30 -0.06 -0.06
Drawdowns / Negative periods marked with * are in progress
Adjusting for units held makes the drawdown reflect real performance, just like in the no-cash-flow case.
Deepest Drawdown Depth (%) -3.36 -5.02 -5.02 -15.04 -19.81 -19.81 -19.81 -22.02
Start to Recovery (# months)
4* 4* 4* 31 51 51 51 39
Start (yyyy mm) 2026 03 2026 03 2022 01 2020 08 2020 08 2020 08 1980 02
Start to Bottom (# months) 2 2 10 27 27 27 26
Bottom (yyyy mm) 2026 04 2026 04 2022 10 2022 10 2022 10 2022 10 1982 03
Bottom to End (# months) 2 2 21 24 24 24 13
End (yyyy mm) - - 2024 07 2024 10 2024 10 2024 10 1983 04
Longest Drawdown Depth (%)
same		 -3.56
same
same
same		 -13.89 -16.63
Start to Recovery (# months)
7 59 62
Start (yyyy mm) 2026 03 2025 02 2022 01 2020 08 2020 08 2002 03 1987 08
Start to Bottom (# months) 2 4 10 27 27 33 39
Bottom (yyyy mm) 2026 04 2025 05 2022 10 2022 10 2022 10 2004 11 1990 10
Bottom to End (# months) 2 3 21 24 24 26 23
End (yyyy mm) - 2025 08 2024 07 2024 10 2024 10 2007 01 1992 09
Longest negative period (# months)
5 6 33 52 52 116 116
Start (yyyy mm) 2025 12 2025 02 2021 08 2020 05 2020 05 1998 12 1998 12
End (yyyy mm) 2026 04 2025 07 2024 04 2024 08 2024 08 2008 07 2008 07
Annualized Return (%) -1.61 -1.64 -0.28 -0.13 -0.13 -0.01 -0.01
Drawdowns / Negative periods marked with * are in progress
Adjusting for units held makes the drawdown reflect real performance, just like in the no-cash-flow case.
RISK INDICATORS - MISC
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 8.50 7.15 7.18 7.22 8.57 7.72 7.31
Sharpe Ratio 1.89 1.69 0.99 0.84 0.78 0.62 0.43
Sortino Ratio 2.66 2.26 1.37 1.20 1.17 0.92 0.65
Ulcer Index 1.54 1.36 3.40 3.72 3.78 3.71 3.46
Ratio: Return / Standard Deviation 2.17 2.19 1.39 1.10 0.98 0.92 1.13
Ratio: Return / Deepest Drawdown 4.83 4.10 1.04 0.76 0.69 0.59 0.63
Zero or Positive Months (%)
75.00 77.77 66.66 60.83 60.00 60.00 63.20
Zero or Positive Months 9 28 40 73 144 216 553
Negative Months 3 8 20 47 96 144 322
# Rebalances 1 3 5 10 20 30 73
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
 1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 7.92 10.16 10.16 17.94
Worst 10 Years Return (%) - Annualized 6.64 2.84 2.84
Best 10 Years Return (%) - Annualized 5.01 8.40 8.40 9.46
Worst 10 Years Return (%) - Annualized 3.95 0.44 0.44
TIMEFRAMES
Inflation Adjusted:
Inflation Adjusted:
 1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
··· As of Jun 2026 - Over the previous 30Y
Best Rolling Return (%) - Annualized 27.52 16.82 12.35 10.16 8.42 7.11
Worst Rolling Return (%) - Annualized -7.44 -1.89 0.44 2.84 5.35
Positive Periods (%) 83.9 95.3 100.0 100.0 100.0 100.0
Best Rolling Return (%) - Annualized 26.29 14.08 10.72 8.40 6.12 4.83
Worst Rolling Return (%) - Annualized -13.04 -5.56 -1.71 0.44 3.36
Positive Periods (%) 73.0 80.9 87.0 100.0 100.0 100.0
95% VaR - Value at Risk (%) - Cumulative
3.07 4.55 5.39 4.48 0.00 0.00 0.00 0.00
95% CVaR - Conditional Value at Risk (%) 3.99 6.16 7.66 5.82 2.43 0.00 0.00 0.00
99% VaR - Value at Risk (%) - Cumulative
4.59 7.18 9.11 6.76 3.94 0.00 0.00 0.00
99% CVaR - Conditional Value at Risk (%) 5.55 8.86 11.48 7.19 5.03 0.00 0.00 0.00
Short term VaRs: analytical | 1+ year VaRs: historical data
Safe Withdrawal Rate (%) 90.15 29.40 18.16 9.79 5.86 5.75
Perpetual Withdrawal Rate (%) --- --- --- 0.44 2.88 4.35
% based on initial capital, inflation-adj. monthly withdrawals afterwards | Credits: BestRetirementPortfolio.com
··· All available data (Aug 1953 - Jun 2026)
Best Rolling Return (%) - Annualized 42.13 28.19 20.41 17.94 12.68 11.73
Worst Rolling Return (%) - Annualized -11.66 -1.89 0.44 2.84 5.35 6.24
Positive Periods (%) 85.7 97.2 100.0 100.0 100.0 100.0
Best Rolling Return (%) - Annualized 29.55 17.51 12.26 9.46 6.78 6.14
Worst Rolling Return (%) - Annualized -17.52 -5.56 -2.78 0.44 2.03 3.35
Positive Periods (%) 73.6 81.9 89.9 100.0 100.0 100.0
95% VaR - Value at Risk (%) - Cumulative
2.79 3.96 4.40 4.34 0.00 0.00 0.00 0.00 0.00
95% CVaR - Conditional Value at Risk (%) 3.66 5.48 6.55 6.60 0.72 0.00 0.00 0.00 0.00
99% VaR - Value at Risk (%) - Cumulative
4.23 6.45 7.93 8.15 2.81 0.00 0.00 0.00 0.00
99% CVaR - Conditional Value at Risk (%) 5.14 8.04 10.17 9.42 3.87 0.00 0.00 0.00 0.00
Short term VaRs: analytical | 1+ year VaRs: historical data
Safe Withdrawal Rate (%) 89.29 29.40 17.65 9.79 5.86 4.69
Perpetual Withdrawal Rate (%) --- --- --- 0.44 2.09 3.08
% based on initial capital, inflation-adj. monthly withdrawals afterwards | Credits: BestRetirementPortfolio.com
  • Annualized Portfolio Return: the annualized geometric mean return of the portfolio. When cashflows are involved, it is calculated using the Money-Weighted Rate of Return (MWRR), based on the Modified Dietz formula.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration. When cashflows are involved, portfolio values are normalized by the invested capital (i.e. owned quotes) at each time step: this isolates the effect of market performance from capital contributions, avoiding misleading drawdowns caused by large inflows that artificially lift portfolio value and, as a result, the drawdowns match the ones without cash flows.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is based on the portfolio's composition currency:
    • USD → BIL (SPDR Bloomberg 1-3 Month T-Bill ETF)
    • CAD → CBIL.TO (CI First Asset Government 1-3 Month T-Bill ETF)
    • EUR → XEON.DE (Xtrackers II EUR Overnight Rate Swap ETF)
    • GBP → XSTR.L (Xtrackers II GBP Overnight Rate Swap ETF)
    • any other currency → defaults to BIL (USD)
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Value at Risk (VaR): it's an evaluation of a cumulative worst-case loss (in absolute value), associated with a probability (95%-99%) and a time horizon. For short term, it's calculated based on the expected return and standard deviation, assuming a normal distribution of monthly returns. For long term is retrieved by the historical rolling return data.
  • Conditional Value at Risk (CVaR): it represents the average expected loss if that worst-case threshold (95%-99%) is ever crossed.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.
Book Cover: Mastering ETF Investing
LazyPortfolioETF.com Logo
Your practical guide to Building Wealth.
Master ETF Investing & maximize profits with Lazy Portfolios & Passive Strategies.
English Book Italian Book

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

HARRY BROWNE US PERMANENT PORTFOLIO TO CAD
Drawdown periods
Inflation Adj:
Swipe left to see all data
Swipe left to see all data
Swipe left to see all data
Swipe left to see all data

Rolling Return Analysis

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

HARRY BROWNE US PERMANENT PORTFOLIO TO CAD
Annualized Rolling Returns — Over Time & Distribution

Holding Periods and Returns

Holding periods are based on rolling periods: each rolling window represents the return an investor would have achieved by holding the investment for a fixed period (e.g., 10, 20, or 30 years) starting from different dates.

HARRY BROWNE US PERMANENT PORTFOLIO TO CAD
Annualized Rolling Returns
Inflation Adj:
Percentiles: – Changes pending. Click 'Update' to refresh

Loading data
Please wait

Loading data
Please wait

Loading data
Please wait

Loading data
Please wait

Time to Target

What it shows: Months to reach your target capital from each historical entry point, accounting for your initial investment and periodic contributions.

HARRY BROWNE US PERMANENT PORTFOLIO TO CAD
Time to reach your Target Capital

Monthly Returns and Seasonality

This section provides a visual/tabular representation of the performance variability in the Harry Browne US Permanent Portfolio To CAD over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

HARRY BROWNE US PERMANENT PORTFOLIO TO CAD
Monthly Returns Distribution

Loading data
Please wait
Monthly Seasonality Analysis
72 full years are available for analysis

Returns, up to March 2024, have been derived using the historical series of equivalent ETFs / Assets, instead of the actual ETFs of the portfolio.

You can find additional information on extended Data Sources here.

In particular, the series derived from equivalent datasets are:

  • Vanguard US Total Market Index (VUN.TO), up to September 2013
  • BMO USD Cash Management ETF (ZUCM.TO), up to October 2023
  • iShares 20+ Year US Treasury Bond Index (XTLT.TO), up to February 2023
  • BMO Gold Bullion ETF CAD Units (ZGLD.TO), up to March 2024

Portfolio efficiency

Compare Harry Browne US Permanent Portfolio To CAD performance and efficiency against top portfolios to identify strengths and areas for improvement.


Loading data
Please wait
Swipe left to see all data
Allocation
Stocks Bonds Comm Ann.
Return▾		 Standard
Deviation		 Ulcer
Index		 Deepest
Drawdown		 Longest
Drawdown		 Longest
Neg.Period		 Avg
Rank

Loading data
Please wait
Swipe left to see all data
Allocation
Stocks Bonds Comm Ann.
Return▾		 Standard
Deviation		 Ulcer
Index		 Deepest
Drawdown		 Longest
Drawdown		 Longest
Neg.Period		 Avg
Rank

Loading data
Please wait
Swipe left to see all data
Allocation
Stocks Bonds Comm Ann.
Return▾		 Standard
Deviation		 Ulcer
Index		 Deepest
Drawdown		 Longest
Drawdown		 Longest
Neg.Period		 Avg
Rank
Select Portfolios

Loading data
Please wait
Compare
Book Cover: Mastering ETF Investing
LazyPortfolioETF.com Logo
Your practical guide to Building Wealth.
Master ETF Investing & maximize profits with Lazy Portfolios & Passive Strategies.
English Book Italian Book