Larry Swedroe Larry Portfolio To EUR Bond Hedged: ETF allocation and returns

Data Source: from July 1998 to June 2024 (~26 years)
Consolidated Returns as of 30 June 2024
Currency: EUR

The Larry Swedroe Larry Portfolio To EUR Bond Hedged 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 asset allocation is the following: 30% on the Stock Market, 70% on Fixed Income, 0% 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 70% allocation to bonds, leading to its classification as medium risk.

As of June 2024, over the analyzed timeframe, the Larry Swedroe Larry Portfolio To EUR Bond Hedged obtained a 5.12% compound annual return, with a 5.10% standard deviation. It suffered a maximum drawdown of -12.53% that required 30 months to be recovered.

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Asset Allocation and ETFs

The Larry Swedroe Larry Portfolio To EUR Bond Hedged has the following asset allocation:

30% Stocks
70% Fixed Income
0% Commodities

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The Larry Swedroe Larry Portfolio To EUR Bond Hedged can be implemented with the following ETFs:

Weight
(%)		 ETF
Ticker		 ETF
Currency		 ETF Name Investment Themes (Orig.Currency)
15.00
ZPRV.DE
EUR SPDR MSCI USA Small Cap Value Weighted Equity, U.S., Small Cap, Value (USD)
7.50
IS3N.DE
EUR iShares Core MSCI Emerg. Markets Equity, Emerging Markets, Large Cap (USD)
7.50
IUSN.DE
EUR iShares MSCI World Small Cap Equity, Developed Markets, Small Cap (Mix)
70.00
CBUE.DE
EUR
Hedged 		iShares USD Treasury Bond 3-7yr Eur Hedged Bond, U.S., Intermediate-Term (USD)

Most of Lazy Portfolios are made of common components (asset classes), very simple and well defined. For a more complete view, find out the most common ETFs you can use to build your portfolio.

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Portfolio and ETF Returns as of Jun 30, 2024

The Larry Swedroe Larry Portfolio To EUR Bond Hedged guaranteed the following returns.

Returns are calculated in EUR, assuming:
LARRY SWEDROE LARRY PORTFOLIO TO EUR BOND HEDGED
Data Source: 1 July 1998 - 30 June 2024 (~26 years)
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Jun 30, 2024
  1 Day Time ET(*) Jul 2024 1M 6M 1Y 5Y 10Y 20Y MAX
(~26Y)
Larry Swedroe Larry Portfolio To EUR Bond Hedged n.a. n.a. 1.03 0.85 5.13 1.94 2.53 4.50 5.12
Euro Inflation Adjusted return 0.82 -1.17 2.54 -1.72 0.18 2.34 2.97
Components
ZPRV.DE
EUR SPDR MSCI USA Small Cap Value Weighted n.a. - n.a. -0.74 1.19 14.01 12.79 10.43 9.24 8.75
IS3N.DE
EUR iShares Core MSCI Emerg. Markets n.a. - n.a. 5.27 11.45 15.20 5.20 5.60 7.68 7.35
IUSN.DE
EUR iShares MSCI World Small Cap n.a. - n.a. 0.06 3.99 10.91 8.18 8.56 8.49 7.48
CBUE.DE
EUR
Hedged 		iShares USD Treasury Bond 3-7yr Eur Hedged n.a. - n.a. 1.05 -0.69 1.47 -1.75 -0.46 1.96 2.91
Returns over 1 year are annualized
(*) Eastern Time (ET - America/New York)
Euro Inflation is updated to Jun 2024. Inflation (annualized) is 1Y: 2.53% , 5Y: 3.73% , 10Y: 2.35% , 20Y: 2.11%
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Capital Growth as of Jun 30, 2024

An investment of 1€, from July 2004 to June 2024, would be worth 2.41€, with a total return of 141.17% (4.50% annualized).

The Inflation Adjusted Capital would be 1.59€, with a net total return of 58.72% (2.34% annualized).

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An investment of 1€, from July 1998 to June 2024, would be worth 3.66€, with a total return of 266.34% (5.12% annualized).

The Inflation Adjusted Capital would be 2.14€, with a net total return of 113.89% (2.97% annualized).

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Portfolio Metrics as of Jun 30, 2024

Metrics of Larry Swedroe Larry Portfolio To EUR Bond Hedged, updated as of 30 June 2024, provide a comprehensive overview of the portfolio's performance and risk characteristics.

These metrics include detailed data on returns, volatility, drawdowns and other key performance indicators. By examining them, you can gain insights into how the portfolio has performed over various time periods and understand its risk profile.

Metrics are calculated based on monthly returns, assuming:
LARRY SWEDROE LARRY PORTFOLIO TO EUR BOND HEDGED
Advanced Metrics
Data Source: 1 July 1998 - 30 June 2024 (~26 years)
Swipe left to see all data
Metrics as of Jun 30, 2024
1M 3M 6M 1Y 3Y 5Y 10Y 20Y MAX
(~26Y)
Investment Return (%) 1.03 -0.18 0.85 5.13 -1.41 1.94 2.53 4.50 5.12
Infl. Adjusted Return (%)
0.82 -1.18 -1.17 2.54 -6.58 -1.72 0.18 2.34 2.97
Euro Inflation (%) 0.21 1.01 2.05 2.53 5.53 3.73 2.35 2.11 2.09
Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
 Current 1Y 3Y 5Y 10Y 20Y MAX
Deepest Drawdown Depth (%) -4.91 -4.74 -12.53 -12.53 -12.53 -12.53 -12.53
Start to Recovery (# months)
30* 5 30* 30* 30* 30* 30*
Start (yyyy mm) 2023 08 2022 01 2022 01 2022 01 2022 01 2022 01
Start to Bottom (# months) 3 22 22 22 22 22
Bottom (yyyy mm) 2023 10 2023 10 2023 10 2023 10 2023 10 2023 10
Bottom to End (# months) 2 8 8 8 8 8
End (yyyy mm) 2023 12 - - - - -
Longest Drawdown Depth (%)
same
same
same
same
same
same
Start to Recovery (# months)
Start (yyyy mm) 2023 08 2022 01 2022 01 2022 01 2022 01 2022 01
Start to Bottom (# months) 3 22 22 22 22 22
Bottom (yyyy mm) 2023 10 2023 10 2023 10 2023 10 2023 10 2023 10
Bottom to End (# months) 2 8 8 8 8 8
End (yyyy mm) 2023 12 - - - - -
Longest negative period (# months)
5 36* 47 47 47 47
Period Start (yyyy mm) 2024 01 2021 07 2019 12 2019 12 2019 12 2019 12
Period End (yyyy mm) 2024 05 2024 06 2023 10 2023 10 2023 10 2023 10
Annualized Return (%) -0.42 -1.41 -0.25 -0.25 -0.25 -0.25
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -18.53 -5.64 -23.83 -23.83 -23.83 -23.83 -23.83
Start to Recovery (# months)
34* 5 34* 34* 34* 34* 34*
Start (yyyy mm) 2023 08 2021 09 2021 09 2021 09 2021 09 2021 09
Start to Bottom (# months) 3 26 26 26 26 26
Bottom (yyyy mm) 2023 10 2023 10 2023 10 2023 10 2023 10 2023 10
Bottom to End (# months) 2 8 8 8 8 8
End (yyyy mm) 2023 12 - - - - -
Longest Drawdown Depth (%) -2.90
same
same
same
same
same
Start to Recovery (# months)
5*
Start (yyyy mm) 2024 02 2021 09 2021 09 2021 09 2021 09 2021 09
Start to Bottom (# months) 3 26 26 26 26 26
Bottom (yyyy mm) 2024 04 2023 10 2023 10 2023 10 2023 10 2023 10
Bottom to End (# months) 2 8 8 8 8 8
End (yyyy mm) - - - - - -
Longest negative period (# months)
9 36* 60* 118* 128 128
Period Start (yyyy mm) 2023 08 2021 07 2019 07 2014 09 2013 03 2013 03
Period End (yyyy mm) 2024 04 2024 06 2024 06 2024 06 2023 10 2023 10
Annualized Return (%) -0.95 -6.58 -1.72 -0.05 -0.09 -0.09
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y MAX
Standard Deviation (%) 6.92 6.57 6.00 5.26 4.83 5.10
Sharpe Ratio -0.02 -0.66 -0.01 0.22 0.64 0.22
Sortino Ratio -0.04 -1.01 -0.02 0.32 0.89 0.31
Ulcer Index 1.70 7.19 5.67 4.24 3.10 2.84
Ratio: Return / Standard Deviation 0.74 -0.21 0.32 0.48 0.93 1.00
Ratio: Return / Deepest Drawdown 1.08 -0.11 0.16 0.20 0.36 0.41
Positive Months (%)
50.00 38.88 51.66 54.16 61.25 62.50
Positive Months 6 14 31 65 147 195
Negative Months 6 22 29 55 93 117
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
 1Y 3Y 5Y 10Y 20Y MAX
Best 10 Years Return (%) - Annualized 2.53 7.13 7.49
Worst 10 Years Return (%) - Annualized 1.97 1.97
Best 10 Years Return (%) - Annualized 0.18 5.31 5.31
Worst 10 Years Return (%) - Annualized -0.26 -0.26
TIMEFRAMES
Inflation Adjusted:
Inflation Adjusted:
 1M 3M 6M 1Y 3Y 5Y 10Y 20Y MAX
··· As of Jun 2024 - Over the previous 20Y
Best Rolling Return (%) - Annualized 19.21 12.55 9.29 7.13 4.50
Worst Rolling Return (%) - Annualized -10.70 -1.68 0.67 1.97
Positive Periods (%) 83.4 95.6 100.0 100.0 100.0
Best Rolling Return (%) - Annualized 18.20 10.35 7.45 5.31 2.34
Worst Rolling Return (%) - Annualized -18.26 -6.86 -2.29 -0.26
Positive Periods (%) 73.7 82.4 84.5 99.1 100.0
95% VaR - Value at Risk (%) - Cumulative
1.92 2.84 3.36 4.62 0.00 0.00 0.00
95% CVaR - Conditional Value at Risk (%) 2.50 3.85 4.78 7.59 2.53 0.00 0.00
99% VaR - Value at Risk (%) - Cumulative
2.87 4.49 5.69 9.88 4.48 0.00 0.00
99% CVaR - Conditional Value at Risk (%) 3.47 5.54 7.17 10.70 5.11 0.00 0.00
Short term VaRs: analytical | 1+ year VaRs: historical data
Safe Withdrawal Rate (%) 89.01 28.37 19.69 10.85 7.11
Perpetual Withdrawal Rate (%) --- --- --- --- 2.63
% based on initial capital, inflation-adj. monthly withdrawals afterwards | Credits: BestRetirementPortfolio.com
··· All available data (Jul 1998 - Jun 2024)
Best Rolling Return (%) - Annualized 19.21 12.55 9.29 7.49 6.41
Worst Rolling Return (%) - Annualized -10.70 -1.68 0.67 1.97 4.24
Positive Periods (%) 86.0 96.7 100.0 100.0 100.0
Best Rolling Return (%) - Annualized 18.20 10.35 7.45 5.31 4.62
Worst Rolling Return (%) - Annualized -18.26 -6.86 -2.29 -0.26 2.07
Positive Periods (%) 78.4 87.0 88.9 99.4 100.0
95% VaR - Value at Risk (%) - Cumulative
1.99 2.91 3.36 3.95 0.00 0.00 0.00
95% CVaR - Conditional Value at Risk (%) 2.60 3.97 4.86 6.66 1.46 0.00 0.00
99% VaR - Value at Risk (%) - Cumulative
2.99 4.64 5.82 9.58 4.28 0.00 0.00
99% CVaR - Conditional Value at Risk (%) 3.63 5.75 7.38 10.29 4.80 0.00 0.00
Short term VaRs: analytical | 1+ year VaRs: historical data
Safe Withdrawal Rate (%) 89.01 28.37 19.69 10.85 6.91
Perpetual Withdrawal Rate (%) --- --- --- --- 2.39
% based on initial capital, inflation-adj. monthly withdrawals afterwards | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • 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.
  • 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 the 1-3 Mth T-Bill return.
  • 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.
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Portfolio Components Correlation

Correlation measures to what degree the returns of two assets move in relation to each other. It is a statistical measure that describes the extent to which the returns of one asset are related to the returns of another asset.

COMPONENTS MONTHLY CORRELATIONS
Monthly correlations as of 30 June 2024
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Terms and Definitions
Correlation values range between -1 and +1
  • A correlation of +1 indicates that the returns of the two assets move in perfect synchrony; when one asset's returns go up, the other asset's returns also go up by the same percentage, and vice versa. This perfect positive correlation implies that the assets perform similarly in different market conditions.
  • A correlation of -1 indicates a perfect inverse relationship between the returns of the two assets. When one asset's returns go up, the other asset's returns go down by the same percentage. This perfect negative correlation suggests that the assets move in opposite directions, providing a diversification benefit by reducing overall portfolio risk.
  • A correlation of 0 means that there is no linear relationship between the returns of the two assets. The returns of one asset do not predict the returns of the other.
Learn about historical correlations here: see how the main asset classes relate to each other.

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.

LARRY SWEDROE LARRY PORTFOLIO TO EUR BOND HEDGED
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 July 2004 - 30 June 2024 (20 Years)
Data Source: 1 July 1998 - 30 June 2024 (~26 years)
Inflation Adjusted:

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Rolling Returns

( more details)

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.

LARRY SWEDROE LARRY PORTFOLIO TO EUR BOND HEDGED
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 July 2004 - 30 June 2024 (20 Years)
Data Source: 1 July 1998 - 30 June 2024 (~26 years)
Inflation Adjusted:

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If you need a deeper detail about rolling returns, please refer to the Larry Swedroe Larry Portfolio To EUR Bond Hedged: Rolling Returns page.

Seasonality

In which months is it better to invest in Larry Swedroe Larry Portfolio To EUR Bond Hedged?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past. They are retrieved considering the data source from July 1998 to June 2024.

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For further information about the seasonality, check the Asset Class Seasonality page.

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the Larry Swedroe Larry Portfolio To EUR Bond Hedged over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

LARRY SWEDROE LARRY PORTFOLIO TO EUR BOND HEDGED
Monthly Returns Distribution
Data Source: 1 July 2004 - 30 June 2024 (20 Years)
Data Source: 1 July 1998 - 30 June 2024 (~26 years)
147 Positive Months (61%) - 93 Negative Months (39%)
195 Positive Months (63%) - 117 Negative Months (38%)

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Investment Returns, up to March 2019, 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:
  • SPDR MSCI USA Small Cap Value Weighted (ZPRV.DE), up to February 2015
  • iShares Core MSCI Emerg. Markets (IS3N.DE), up to July 2014
  • iShares MSCI World Small Cap (IUSN.DE), up to April 2018
  • iShares USD Treasury Bond 3-7yr Eur Hedged (CBUE.DE), up to March 2019

Portfolio efficiency

The following portfolios granted a higher return over 20 Years and a less severe drawdown at the same time.

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In the following table, you can compare the current portfolio with a list of famous portfolios. Metrics are calculated over the last 20 Years.

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The following portfolios share asset allocation strategy and/or similar asset weights.

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Mastering ETF Investing
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