Bill Bernstein Sheltered Sam 50/50 Portfolio vs Marvin Appel One-Decision Portfolio Portfolio Comparison

Simulation Settings
Period: January 1985 - April 2025 (~40 years)
Consolidated Returns as of 30 April 2025
Rebalancing: at every Jan 1st
Currency: USD
Inflation: US
(Change Settings)
The minimum date range must be at least 12 months. 'Date To' cannot be beyond April 2025.
Reset settings
Close
Results
30 Years
All (since January 1985)
Inflation Adjusted:
Bill Bernstein Sheltered Sam 50/50 Portfolio
1.00$
Initial Capital
May 1995
7.41$
Final Capital
April 2025
6.91%
Yearly Return
7.84%
Std Deviation
-28.23%
Max Drawdown
36months
Recovery Period
1.00$
Initial Capital
May 1995
3.51$
Final Capital
April 2025
4.28%
Yearly Return
7.84%
Std Deviation
-29.42%
Max Drawdown
39months
Recovery Period
1.00$
Initial Capital
January 1985
25.76$
Final Capital
April 2025
8.39%
Yearly Return
7.94%
Std Deviation
-28.23%
Max Drawdown
36months
Recovery Period
1.00$
Initial Capital
January 1985
8.48$
Final Capital
April 2025
5.44%
Yearly Return
7.94%
Std Deviation
-29.42%
Max Drawdown
39months
Recovery Period
Marvin Appel One-Decision Portfolio
1.00$
Initial Capital
May 1995
7.82$
Final Capital
April 2025
7.09%
Yearly Return
8.51%
Std Deviation
-31.96%
Max Drawdown
41months
Recovery Period
1.00$
Initial Capital
May 1995
3.70$
Final Capital
April 2025
4.46%
Yearly Return
8.51%
Std Deviation
-33.86%
Max Drawdown
47months
Recovery Period
1.00$
Initial Capital
January 1985
21.86$
Final Capital
April 2025
7.95%
Yearly Return
8.21%
Std Deviation
-31.96%
Max Drawdown
41months
Recovery Period
1.00$
Initial Capital
January 1985
7.20$
Final Capital
April 2025
5.02%
Yearly Return
8.21%
Std Deviation
-33.86%
Max Drawdown
47months
Recovery Period

As of April 2025, in the previous 30 Years, the Bill Bernstein Sheltered Sam 50/50 Portfolio obtained a 6.91% compound annual return, with a 7.84% standard deviation. It suffered a maximum drawdown of -28.23% that required 36 months to be recovered.

As of April 2025, in the previous 30 Years, the Marvin Appel One-Decision Portfolio obtained a 7.09% compound annual return, with a 8.51% standard deviation. It suffered a maximum drawdown of -31.96% that required 41 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.
Mastering Etf Investing
Mastering ETF Investing
Build wealth
with Lazy Portfolios and Passive Investing
Set your goal
Use top metrics to evaluate
Join the passive investing strategy
Exclusive new asset allocations in EUR and USD
Buy now
English book
Buy now
Italian book

Asset Allocations and ETFs

The compared portfolios have the following asset allocations.

Bill Bernstein Sheltered Sam 50/50 Portfolio
Weight
(%)		 Ticker Name
12.50
VTV
Vanguard Value
10.00
VV
Vanguard Large-Cap
7.50
IJS
iShares S&P Small-Cap 600 Value
5.00
VNQ
Vanguard Real Estate
3.50
EFV
iShares MSCI EAFE Value
2.50
EEM
iShares MSCI Emerging Markets
2.50
IJR
iShares Core S&P Small-Cap
2.50
VGK
Vanguard FTSE Europe
2.50
VPL
Vanguard FTSE Pacific
30.00
SHY
iShares 1-3 Year Treasury Bond
20.00
TIP
iShares TIPS Bond
1.50
GLTR
Aberdeen Standard Physical Precious Metals Basket Shares
Marvin Appel One-Decision Portfolio
Weight
(%)		 Ticker Name
20.00
SPY
SPDR S&P 500
20.00
VNQ
Vanguard Real Estate
10.00
IJS
iShares S&P Small-Cap 600 Value
30.00
BIL
SPDR Blmbg Barclays 1-3 Mth T-Bill
20.00
LQD
iShares Investment Grade Corporate Bond
Test Your Asset Allocation
Evaluate your portfolio strategy in 7 different currencies
Try the Backtest Tool

Portfolio Returns as of Apr 30, 2025

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • rebalancing: at every Jan 1st.
  • dividend reinvestment, when applicable.
RETURN COMPARISON
Period: 1 January 1985 - 30 April 2025 (~40 years)
Swipe left to see all data
Return (%) as of Apr 30, 2025
YTD
(4M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~40Y)
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_bernstein.webp Sheltered Sam 50/50
Bill Bernstein 		1.05 -0.47 0.77 8.72 6.85 5.12 6.91 8.39
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_marvin_appel.webp One-Decision Portfolio
Marvin Appel 		-1.65 -1.15 -1.45 8.32 6.71 5.46 7.09 7.95
Return over 1 year are annualized.
Explore All Lazy Portfolios
Tailored Portfolios for every Investment Strategy

Capital Growth as of Apr 30, 2025

Bill Bernstein Sheltered Sam 50/50 Portfolio: an investment of 1$, since May 1995, now would be worth 7.41$, with a total return of 641.43% (6.91% annualized).

Marvin Appel One-Decision Portfolio: an investment of 1$, since May 1995, now would be worth 7.82$, with a total return of 681.72% (7.09% annualized).


Loading data
Please wait
Bill Bernstein Sheltered Sam 50/50 Portfolio: an investment of 1$, since January 1985, now would be worth 25.76$, with a total return of 2476.34% (8.39% annualized).

Marvin Appel One-Decision Portfolio: an investment of 1$, since January 1985, now would be worth 21.86$, with a total return of 2086.21% (7.95% annualized).


Loading data
Please wait
Readings that may interest you

Portfolio Metrics as of Apr 30, 2025

The following metrics, updated as of 30 April 2025, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON
Period: 1 May 2024 - 30 April 2025 (1 year)
Period: 1 May 2020 - 30 April 2025 (5 years)
Period: 1 May 2015 - 30 April 2025 (10 years)
Period: 1 May 1995 - 30 April 2025 (30 years)
Period: 1 January 1985 - 30 April 2025 (~40 years)
Swipe left to see all data
Sheltered Sam 50/50 One-Decision Portfolio
Author Bill Bernstein Marvin Appel
ASSET ALLOCATION
Stocks 48.5% 50%
Fixed Income 50% 50%
Commodities 1.5% 0%
PERFORMANCES
Annualized Return (%)
8.72
8.32
Infl. Adjusted Return (%) 6.27 5.89
DRAWDOWN
Deepest Drawdown Depth (%)
-2.94
-4.94
Start to Recovery (months)
5*
5*
Longest Drawdown Depth (%)
-2.94
-4.94
Start to Recovery (months)
5*
5*
Longest Negative Period (months)
7*
8*
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%)
6.39
7.63
Sharpe Ratio
0.61
0.46
Sortino Ratio
0.81
0.61
Ulcer Index
1.18
2.15
Ratio: Return / Standard Deviation
1.36
1.09
Ratio: Return / Deepest Drawdown
2.96
1.68
Metrics calculated over the period 1 May 2024 - 30 April 2025
Swipe left to see all data
Sheltered Sam 50/50 One-Decision Portfolio
Author Bill Bernstein Marvin Appel
ASSET ALLOCATION
Stocks 48.5% 50%
Fixed Income 50% 50%
Commodities 1.5% 0%
PERFORMANCES
Annualized Return (%)
6.85
6.71
Infl. Adjusted Return (%) 2.17 2.04
DRAWDOWN
Deepest Drawdown Depth (%)
-15.17
-16.74
Start to Recovery (months)
27
31
Longest Drawdown Depth (%)
-15.17
-16.74
Start to Recovery (months)
27
31
Longest Negative Period (months)
32
32
RISK INDICATORS
Standard Deviation (%)
8.79
10.03
Sharpe Ratio
0.49
0.42
Sortino Ratio
0.67
0.57
Ulcer Index
4.97
6.34
Ratio: Return / Standard Deviation
0.78
0.67
Ratio: Return / Deepest Drawdown
0.45
0.40
Metrics calculated over the period 1 May 2020 - 30 April 2025
Swipe left to see all data
Sheltered Sam 50/50 One-Decision Portfolio
Author Bill Bernstein Marvin Appel
ASSET ALLOCATION
Stocks 48.5% 50%
Fixed Income 50% 50%
Commodities 1.5% 0%
PERFORMANCES
Annualized Return (%) 5.12
5.46
Infl. Adjusted Return (%) 1.96 2.29
DRAWDOWN
Deepest Drawdown Depth (%)
-15.17
-16.74
Start to Recovery (months)
27
31
Longest Drawdown Depth (%)
-15.17
-16.74
Start to Recovery (months)
27
31
Longest Negative Period (months)
32
32
RISK INDICATORS
Standard Deviation (%)
8.08
9.18
Sharpe Ratio
0.42
0.40
Sortino Ratio
0.56
0.54
Ulcer Index
4.06
4.92
Ratio: Return / Standard Deviation
0.63
0.59
Ratio: Return / Deepest Drawdown
0.34
0.33
Metrics calculated over the period 1 May 2015 - 30 April 2025
Swipe left to see all data
Sheltered Sam 50/50 One-Decision Portfolio
Author Bill Bernstein Marvin Appel
ASSET ALLOCATION
Stocks 48.5% 50%
Fixed Income 50% 50%
Commodities 1.5% 0%
PERFORMANCES
Annualized Return (%) 6.91
7.09
Infl. Adjusted Return (%) 4.28 4.46
DRAWDOWN
Deepest Drawdown Depth (%)
-28.23
-31.96
Start to Recovery (months)
36
41
Longest Drawdown Depth (%)
-28.23
-31.96
Start to Recovery (months)
36
41
Longest Negative Period (months)
53
64
RISK INDICATORS
Standard Deviation (%)
7.84
8.51
Sharpe Ratio
0.59
0.57
Sortino Ratio
0.77
0.73
Ulcer Index
4.65
5.55
Ratio: Return / Standard Deviation
0.88
0.83
Ratio: Return / Deepest Drawdown
0.24
0.22
Metrics calculated over the period 1 May 1995 - 30 April 2025
Swipe left to see all data
Sheltered Sam 50/50 One-Decision Portfolio
Author Bill Bernstein Marvin Appel
ASSET ALLOCATION
Stocks 48.5% 50%
Fixed Income 50% 50%
Commodities 1.5% 0%
PERFORMANCES
Annualized Return (%)
8.39
7.95
Infl. Adjusted Return (%) 5.44 5.02
DRAWDOWN
Deepest Drawdown Depth (%)
-28.23
-31.96
Start to Recovery (months)
36
41
Longest Drawdown Depth (%)
-28.23
-31.96
Start to Recovery (months)
36
41
Longest Negative Period (months)
53
64
RISK INDICATORS
Standard Deviation (%)
7.94
8.21
Sharpe Ratio
0.66
0.58
Sortino Ratio
0.86
0.76
Ulcer Index
4.28
4.96
Ratio: Return / Standard Deviation
1.06
0.97
Ratio: Return / Deepest Drawdown
0.30
0.25
Metrics calculated over the period 1 January 1985 - 30 April 2025
Mastering Etf Investing
Mastering ETF Investing
Build wealth
with Lazy Portfolios and Passive Investing
Buy now
English book
Buy now
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.

DRAWDOWN COMPARISON
Period: 1 May 1995 - 30 April 2025 (30 years)
Period: 1 January 1985 - 30 April 2025 (~40 years)

Loading data
Please wait
Swipe left to see all data
Sheltered Sam 50/50 One-Decision Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-31.96 41 Jun 2007
Oct 2010
-28.23 36 Nov 2007
Oct 2010
-16.74 31 Jan 2022
Jul 2024
-15.17 27 Jan 2022
Mar 2024
-13.04 10 Feb 2020
Nov 2020
-11.63 8 Jan 2020
Aug 2020
-8.99 10 May 2011
Feb 2012
-8.55 8 May 1998
Dec 1998
-8.52 8 Jun 2011
Jan 2012
-8.13 6 Jul 1998
Dec 1998
-7.79 12 Jun 2002
May 2003
-7.23 14 Apr 2002
May 2003
-6.99 7 Sep 2018
Mar 2019
-6.63 8 Sep 2018
Apr 2019
-5.55 14 Feb 2001
Mar 2002

Loading data
Please wait
Swipe left to see all data
Sheltered Sam 50/50 One-Decision Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-31.96 41 Jun 2007
Oct 2010
-28.23 36 Nov 2007
Oct 2010
-16.74 31 Jan 2022
Jul 2024
-15.17 27 Jan 2022
Mar 2024
-13.42 14 Sep 1987
Oct 1988
-13.04 10 Feb 2020
Nov 2020
-12.38 13 Sep 1987
Sep 1988
-11.63 8 Jan 2020
Aug 2020
-8.99 10 May 2011
Feb 2012
-8.55 8 May 1998
Dec 1998
-8.52 8 Jun 2011
Jan 2012
-8.13 6 Jul 1998
Dec 1998
-7.88 6 Aug 1990
Jan 1991
-7.79 12 Jun 2002
May 2003
-7.50 7 Jul 1990
Jan 1991

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 1985 - 30 April 2025 (~40 years)


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

Loading data
Please wait

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.

Swipe left to see all data
Sheltered Sam 50/50 One-Decision Portfolio
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2025
1.05
-1.53 -1.65 -3.37
2024
 7.78 -2.94
8.40
-3.55
2023
 9.63 -6.01
12.43
-7.22
2022
-10.08
-15.17 -13.18 -16.74
2021
 12.55 -2.18
16.51
-2.73
2020
7.04
-11.63 5.32 -13.04
2019
 15.24 -2.72
18.51
-2.02
2018
 -4.12 -6.63
-3.64
-6.99
2017
9.70
0.00 8.07 -0.59
2016
8.66
-1.99 8.52 -3.21
2015
 -1.51 -5.30
-0.25
-4.76
2014
 5.32 -2.47
11.14
-2.54
2013
11.17
-2.24 10.43 -2.72
2012
 9.72 -3.50
10.65
-2.81
2011
 2.12 -8.99
3.87
-8.52
2010
 10.93 -6.18
13.01
-6.14
2009
16.09
-12.02 15.30 -14.35
2008
-16.49
-20.24 -16.74 -22.59
2007
5.90
-2.35 -0.68 -5.17
2006
 12.64 -1.91
14.45
-1.98
2005
6.50
-1.80 5.08 -2.36
2004
 11.37 -3.69
12.05
-4.65
2003
20.88
-1.95 18.87 -1.57
2002
-0.98
-7.79 -2.42 -7.23
2001
 1.33 -5.55
4.32
-3.58
2000
 7.28 -2.16
9.42
-2.13
1999
8.35
-2.52 4.70 -3.16
1998
8.46
-8.55 5.32 -8.13
1997
 14.60 -2.41
17.36
-1.24
1996
 11.34 -2.06
15.52
-1.31
1995
21.19
-0.68 19.02 -0.66
1994
 -1.95 -5.96
-1.28
-5.02
1993
17.86
-1.94 11.41 -1.82
1992
 8.64 -1.26
9.68
-0.89
1991
23.09
-2.50 23.01 -1.99
1990
-1.30
-7.88 -1.89 -7.50
1989
19.77
-0.79 15.28 -0.97
1988
13.45
-1.64 12.57 -1.14
1987
3.26
-13.42 2.00 -12.38
1986
19.83
-3.33 13.98 -2.95
1985
26.90
-1.21 20.92 -1.32
Mastering Etf Investing
Mastering ETF Investing
Build wealth
with Lazy Portfolios and Passive Investing
Buy now
English book
Buy now
Italian book