Ferdinando Ametrano New Talmud Portfolio vs Ray Dalio All Weather Portfolio To EUR Bond Hedged Portfolio Comparison

Simulation Settings
Period: January 2011 - December 2025 (~15 years)
Consolidated Returns as of 31 December 2025
Initial Amount: 1$
Rebalancing: at every Jan 1st
Currency: USD
Inflation: US
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Results
All Data
(2011/01 - 2025/12)
Inflation Adjusted:
Frank Vasquez Frank Vasquez Golden Ratio Portfolio
1.00$
Invested Capital
January 2011
3.51$
Final Capital
December 2025
8.74%
Yearly Return
9.62%
Std Deviation
-23.37%
Max Drawdown
31months
Recovery Period
1.00$
Invested Capital
January 2011
2.37$
Final Capital
December 2025
5.94%
Yearly Return
9.62%
Std Deviation
-27.40%
Max Drawdown
49months
Recovery Period
Ray Dalio Ray Dalio All Weather Portfolio To EUR Bond Hedged
1.00€
Invested Capital
January 2011
2.53€
Final Capital
December 2025
6.37%
Yearly Return
7.05%
Std Deviation
-18.77%
Max Drawdown
38months
Recovery Period
1.00€
Invested Capital
January 2011
1.84€
Final Capital
December 2025
4.16%
Yearly Return
7.05%
Std Deviation
-28.01%
Max Drawdown
48months*
Recovery Period
* in progress

As of December 2025, over the analyzed timeframe, the Frank Vasquez Golden Ratio Portfolio obtained a 8.74% compound annual return, with a 9.62% standard deviation. It suffered a maximum drawdown of -23.37% that required 31 months to be recovered.

As of December 2025, over the analyzed timeframe, the Ray Dalio All Weather Portfolio To EUR Bond Hedged obtained a 6.37% compound annual return, with a 7.05% standard deviation. It suffered a maximum drawdown of -18.77% that required 38 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.
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Asset Allocations and ETFs

The compared portfolios have the following asset allocations.

Frank Vasquez
Frank Vasquez Golden Ratio Portfolio
Weight
(%)		 Ticker Name
21.00
IJS
iShares S&P Small-Cap 600 Value
21.00
VUG
Vanguard Growth
10.00
VNQ
Vanguard Real Estate
26.00
TLT
iShares 20+ Year Treasury Bond
6.00
BIL
SPDR Blmbg Barclays 1-3 Mth T-Bill
16.00
GLD
SPDR Gold Trust
Ray Dalio
Ray Dalio All Weather Portfolio To EUR Bond Hedged
Weight
(%)		 Ticker Name
30.00
XD9U.DE
Xtrackers MSCI USA
40.00
IUSV.DE
iShares USD Treasury Bond 20+yr EUR Hedged
15.00
CBUE.DE
iShares USD Treasury Bond 3-7yr Eur Hedged
7.50
PHAU
WisdomTree Physical Gold
7.50
UIQK.DE
UBS CMCI Composite SF
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Portfolio Returns as of Dec 31, 2025

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • rebalancing: at every Jan 1st.
  • dividend reinvestment, when applicable.
Return Comparison
Capital Growth
All Data
(2011/01 - 2025/12)
Inflation Adjusted:
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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Frank Vasquez Golden Ratio Portfolio
Frank Vasquez 		1 $ 3.51 $ 251.27% 8.74%
Ray Dalio All Weather Portfolio To EUR Bond Hedged
Ray Dalio 		1 $ 2.53 $ 152.62% 6.37%
Jan 2011 Dec 2025

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Frank Vasquez Golden Ratio Portfolio
Frank Vasquez 		1 $ 2.37 $ 137.48% 5.94%
Ray Dalio All Weather Portfolio To EUR Bond Hedged
Ray Dalio 		1 $ 1.84 $ 84.28% 4.16%
Jan 2011 Dec 2025

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Return (%) as of Dec 31, 2025
YTD
(12M) 		1M 6M 1Y 5Y 10Y MAX
(~15Y)
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_frank_vasquez.webp Golden Ratio Portfolio
Frank Vasquez 		17.31 -0.30 11.64 17.31 6.91 9.09 8.74
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_ray_dalio.webp All Weather Portfolio • Bond Hedged
Ray Dalio 		6.63 -0.62 7.39 6.63 3.14 5.16 6.37
Returns over 1 year are annualized.
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Portfolio Metrics as of Dec 31, 2025

The following metrics, updated as of 31 December 2025, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON
Period: 1 January 2025 - 31 December 2025 (1 year)
Period: 1 January 2021 - 31 December 2025 (5 years)
Period: 1 January 2016 - 31 December 2025 (10 years)
Period: 1 January 2011 - 31 December 2025 (~15 years)
1 Year
5 Years
10 Years
All (2011/01 - 2025/12)
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Golden Ratio Portfolio All Weather Portfolio To EUR Bond Hedged
Author Frank Vasquez Ray Dalio
ASSET ALLOCATION
Stocks 52% 30%
Fixed Income 32% 55%
Commodities 16% 15%
PERFORMANCES
Annualized Return (%) 17.31 6.63
Infl. Adjusted (%) 14.28 4.59
DRAWDOWN
Deepest Drawdown Depth (%) -2.22 -4.85
Start to Recovery (months) 4 7
Longest Drawdown Depth (%) -2.22 -4.85
Start to Recovery (months) 4 7
Longest Negative Period (months) 4 7
RISK INDICATORS
Standard Deviation (%) 5.81 6.17
Sharpe Ratio 2.27 0.40
Sortino Ratio 3.13 0.55
Ulcer Index 0.83 2.40
Ratio: Return / Standard Deviation 2.98 1.07
Ratio: Return / Deepest Drawdown 7.79 1.37
Metrics calculated over the period 1 January 2025 - 31 December 2025
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Golden Ratio Portfolio All Weather Portfolio To EUR Bond Hedged
Author Frank Vasquez Ray Dalio
ASSET ALLOCATION
Stocks 52% 30%
Fixed Income 32% 55%
Commodities 16% 15%
PERFORMANCES
Annualized Return (%) 6.91 3.14
Infl. Adjusted (%) 2.33 -1.08
DRAWDOWN
Deepest Drawdown Depth (%) -23.37 -18.77
Start to Recovery (months) 31 38
Longest Drawdown Depth (%) -23.37 -18.77
Start to Recovery (months) 31 38
Longest Negative Period (months) 35 45
RISK INDICATORS
Standard Deviation (%) 12.11 8.30
Sharpe Ratio 0.32 0.01
Sortino Ratio 0.43 0.01
Ulcer Index 9.45 8.63
Ratio: Return / Standard Deviation 0.57 0.38
Ratio: Return / Deepest Drawdown 0.30 0.17
Metrics calculated over the period 1 January 2021 - 31 December 2025
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Golden Ratio Portfolio All Weather Portfolio To EUR Bond Hedged
Author Frank Vasquez Ray Dalio
ASSET ALLOCATION
Stocks 52% 30%
Fixed Income 32% 55%
Commodities 16% 15%
PERFORMANCES
Annualized Return (%) 9.09 5.16
Infl. Adjusted (%) 5.70 2.49
DRAWDOWN
Deepest Drawdown Depth (%) -23.37 -18.77
Start to Recovery (months) 31 38
Longest Drawdown Depth (%) -23.37 -18.77
Start to Recovery (months) 31 38
Longest Negative Period (months) 39 45
RISK INDICATORS
Standard Deviation (%) 10.62 7.06
Sharpe Ratio 0.66 0.44
Sortino Ratio 0.90 0.63
Ulcer Index 6.94 6.24
Ratio: Return / Standard Deviation 0.86 0.73
Ratio: Return / Deepest Drawdown 0.39 0.27
Metrics calculated over the period 1 January 2016 - 31 December 2025
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Golden Ratio Portfolio All Weather Portfolio To EUR Bond Hedged
Author Frank Vasquez Ray Dalio
ASSET ALLOCATION
Stocks 52% 30%
Fixed Income 32% 55%
Commodities 16% 15%
PERFORMANCES
Annualized Return (%) 8.74 6.37
Infl. Adjusted (%) 5.94 4.16
DRAWDOWN
Deepest Drawdown Depth (%) -23.37 -18.77
Start to Recovery (months) 31 38
Longest Drawdown Depth (%) -23.37 -18.77
Start to Recovery (months) 31 38
Longest Negative Period (months) 39 45
RISK INDICATORS
Standard Deviation (%) 9.62 7.05
Sharpe Ratio 0.77 0.72
Sortino Ratio 1.05 1.03
Ulcer Index 5.83 5.32
Ratio: Return / Standard Deviation 0.91 0.90
Ratio: Return / Deepest Drawdown 0.37 0.34
Metrics calculated over the period 1 January 2011 - 31 December 2025
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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.

DRAWDOWN COMPARISON
Period: 1 January 2016 - 31 December 2025 (10 years)
Period: 1 January 2011 - 31 December 2025 (~15 years)

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Golden Ratio Portfolio All Weather Portfolio To EUR Bond Hedged
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-23.37 31 Jan 2022
Jul 2024
-18.77 38 Jan 2022
Feb 2025
-8.81 5 Feb 2020
Jun 2020
-8.43 8 Sep 2018
Apr 2019
-7.18 14 Feb 2015
Mar 2016
-6.98 15 Apr 2015
Jun 2016
-5.36 9 Aug 2016
Apr 2017
-4.85 7 Mar 2025
Sep 2025
-4.83 10 May 2013
Feb 2014
-4.75 6 May 2013
Oct 2013
-4.34 17 Aug 2016
Dec 2017
-4.19 3 Sep 2020
Nov 2020
-4.10 9 Aug 2012
Apr 2013
-3.79 7 Dec 2024
Jun 2025
-3.74 3 Sep 2014
Nov 2014

Rolling Returns

By selecting the 'Rolling Period', the chart and data will update. To study a different date range, change the Simulation Settings.

You can explore the Rolling Returns for a single portfolio, or check the return differential, by switching on "Head To Head" toggle.

Rolling Returns Comparison
Annualized Rolling Returns Chart
Rolling Returns Chart - Inflation Adjusted
Time Period: 1 January 2011 - 31 December 2025 (~15 years)


Head To Head (Ptf 1 vs Ptf 2):
US Inflation Adjusted:

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Yearly Returns

For each year, the following table provides the return and intra-year drawdown. The highlighted returns represent the highest values for that specific year.

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Golden Ratio Portfolio All Weather Portfolio To EUR Bond Hedged
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2025
 17.31 -2.22 6.63 -4.85
2024
 11.37 -4.10 9.20 -2.72
2023
 17.08 -10.36 7.27 -7.13
2022
 -20.13 -23.37 -16.88 -16.88
2021
 14.34 -3.32 12.42 -2.13
2020
 17.24 -8.81 10.90 -2.94
2019
 22.38 -1.76 17.78 -1.22
2018
 -4.62 -8.43 -2.31 -3.64
2017
 13.17 -0.33 4.53 -2.25
2016
 10.34 -5.36 6.21 -4.34
2015
 -2.70 -7.18 2.08 -6.98
2014
 14.23 -3.74 20.10 -0.33
2013
 7.30 -4.75 -0.32 -4.83
2012
 10.90 -2.33 6.15 -3.34
2011
 11.26 -2.79 17.77 -2.26
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