Bogleheads Four Funds Portfolio vs Gold Portfolio Portfolio Comparison

Simulation Settings

Period: January 1985 - March 2026 (~41 years)
Consolidated Returns as of 31 March 2026

Initial Amount: 1$

Rebalancing: at every Jan 1^st

Currency: USD

Inflation: US

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Results

30 Years
(1996/04 - 2026/03)

All Data
(1985/01 - 2026/03)

Inflation Adjusted:

Bogleheads Four Funds Portfolio

1.00$
Invested Capital
April 1996
10.06$
Final Capital
March 2026
8.00%
Yearly Return
12.53%
Std Deviation
-44.08%
Max Drawdown
42months
Recovery Period

1.00$
Invested Capital
April 1996
4.77$
Final Capital
March 2026
5.35%
Yearly Return
12.53%
Std Deviation
-45.00%
Max Drawdown
63months
Recovery Period

1.00$
Invested Capital
January 1985
47.76$
Final Capital
March 2026
9.83%
Yearly Return
12.26%
Std Deviation
-44.08%
Max Drawdown
42months
Recovery Period

1.00$
Invested Capital
January 1985
15.38$
Final Capital
March 2026
6.85%
Yearly Return
12.26%
Std Deviation
-45.00%
Max Drawdown
63months
Recovery Period

Gold Portfolio

1.00$
Invested Capital
April 1996
10.80$
Final Capital
March 2026
8.25%
Yearly Return
16.18%
Std Deviation
-42.91%
Max Drawdown
107months
Recovery Period

1.00$
Invested Capital
April 1996
5.13$
Final Capital
March 2026
5.60%
Yearly Return
16.18%
Std Deviation
-45.71%
Max Drawdown
158months
Recovery Period

1.00$
Invested Capital
January 1985
13.88$
Final Capital
March 2026
6.58%
Yearly Return
15.34%
Std Deviation
-48.26%
Max Drawdown
217months
Recovery Period

1.00$
Invested Capital
January 1985
4.47$
Final Capital
March 2026
3.70%
Yearly Return
15.34%
Std Deviation
-65.71%
Max Drawdown
242months
Recovery Period

As of March 2026, in the previous 30 Years, the Bogleheads Four Funds Portfolio obtained a 8.00% compound annual return, with a 12.53% standard deviation. It suffered a maximum drawdown of -44.08% that required 42 months to be recovered.

As of March 2026, in the previous 30 Years, the Gold Portfolio obtained a 8.25% compound annual return, with a 16.18% standard deviation. It suffered a maximum drawdown of -42.91% that required 107 months to be recovered.

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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.

Resources & Extras

Asset Allocations and ETFs

The compared portfolios have the following asset allocations.

Bogleheads Four Funds Portfolio

Weight (%)	Ticker	Name
50.00	VTI	Vanguard Total Stock Market
30.00	VEU	Vanguard FTSE All-World ex-US
10.00	TIP	iShares TIPS Bond
10.00	BND	Vanguard Total Bond Market

Gold Portfolio

Weight (%)	Ticker	Name
100.00	GLD	SPDR Gold Trust

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Portfolio Returns as of Mar 31, 2026

Returns are calculated in USD, assuming:

no fees or capital gain taxes.
rebalancing: at every Jan 1^st.
dividend reinvestment, when applicable.

Return Comparison

Capital Growth

30 Years
(1996/04 - 2026/03)

All Data
(1985/01 - 2026/03)

Inflation Adjusted:

Swipe left to see all data

	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Four Funds Bogleheads	1 $	10.06 $	905.74%	8.00%
Gold	1 $	10.80 $	979.68%	8.25%
	Apr 1996	Mar 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Four Funds Bogleheads	1 $	4.77 $	377.47%	5.35%
Gold	1 $	5.13 $	412.57%	5.60%
	Apr 1996	Mar 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Four Funds Bogleheads	1 $	47.76 $	4 675.74%	9.83%
Gold	1 $	13.88 $	1 288.04%	6.58%
	Jan 1985	Mar 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Four Funds Bogleheads	1 $	15.38 $	1 438.24%	6.85%
Gold	1 $	4.47 $	347.08%	3.70%
	Jan 1985	Mar 2026

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		Return (%) as of Mar 31, 2026
		YTD (3M)	1M	6M	1Y	5Y	10Y	30Y	MAX (~41Y)
	Four Funds Bogleheads	-1.29	-5.31	1.54	18.00	8.04	10.08	8.00	9.83
	Gold -- Market Benchmark	8.57	-11.05	21.05	49.33	21.88	13.85	8.25	6.58
Returns over 1 year are annualized.

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Portfolio Metrics as of Mar 31, 2026

The following metrics, updated as of 31 March 2026, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON

Period: 1 April 2025 - 31 March 2026 (1 year)

Period: 1 April 2021 - 31 March 2026 (5 years)

Period: 1 April 2016 - 31 March 2026 (10 years)

Period: 1 April 1996 - 31 March 2026 (30 years)

Period: 1 January 1985 - 31 March 2026 (~41 years)

1 Year

5 Years

10 Years

30 Years

All (1985/01 - 2026/03)

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	Four Funds	Gold
Author	Bogleheads
ASSET ALLOCATION
Stocks	80%	0%
Fixed Income	20%	0%
Commodities	0%	100%
PERFORMANCES
Annualized Return (%)	18.00	49.33
Infl. Adjusted (%)	15.17	45.76
DRAWDOWN
Deepest Drawdown Depth (%)	-5.31	-11.05
Start to Recovery (months)	1*	1*
Longest Drawdown Depth (%)	-5.31	-0.06
Start to Recovery (months)	1*	2
Longest Negative Period (months)	5*	3
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%)	8.26	20.84
Sharpe Ratio	1.70	2.18
Sortino Ratio	2.02	2.83
Ulcer Index	1.47	3.07
Ratio: Return / Standard Deviation	2.18	2.37
Ratio: Return / Deepest Drawdown	3.39	4.46
Metrics calculated over the period 1 April 2025 - 31 March 2026

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	Four Funds	Gold
Author	Bogleheads
ASSET ALLOCATION
Stocks	80%	0%
Fixed Income	20%	0%
Commodities	0%	100%
PERFORMANCES
Annualized Return (%)	8.04	21.88
Infl. Adjusted (%)	3.55	16.82
DRAWDOWN
Deepest Drawdown Depth (%)	-23.20	-15.91
Start to Recovery (months)	26	12
Longest Drawdown Depth (%)	-23.20	-15.91
Start to Recovery (months)	26	12
Longest Negative Period (months)	31	28
RISK INDICATORS
Standard Deviation (%)	12.42	15.89
Sharpe Ratio	0.38	1.17
Sortino Ratio	0.51	1.69
Ulcer Index	7.86	4.87
Ratio: Return / Standard Deviation	0.65	1.38
Ratio: Return / Deepest Drawdown	0.35	1.38
Metrics calculated over the period 1 April 2021 - 31 March 2026

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	Four Funds	Gold
Author	Bogleheads
ASSET ALLOCATION
Stocks	80%	0%
Fixed Income	20%	0%
Commodities	0%	100%
PERFORMANCES
Annualized Return (%)	10.08	13.85
Infl. Adjusted (%)	6.62	10.27
DRAWDOWN
Deepest Drawdown Depth (%)	-23.20	-18.08
Start to Recovery (months)	26	40
Longest Drawdown Depth (%)	-23.20	-18.08
Start to Recovery (months)	26	40
Longest Negative Period (months)	32	39
RISK INDICATORS
Standard Deviation (%)	12.08	14.88
Sharpe Ratio	0.66	0.79
Sortino Ratio	0.86	1.17
Ulcer Index	6.16	6.46
Ratio: Return / Standard Deviation	0.83	0.93
Ratio: Return / Deepest Drawdown	0.43	0.77
Metrics calculated over the period 1 April 2016 - 31 March 2026

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	Four Funds	Gold
Author	Bogleheads
ASSET ALLOCATION
Stocks	80%	0%
Fixed Income	20%	0%
Commodities	0%	100%
PERFORMANCES
Annualized Return (%)	8.00	8.25
Infl. Adjusted (%)	5.35	5.60
DRAWDOWN
Deepest Drawdown Depth (%)	-44.08	-42.91
Start to Recovery (months)	42	107
Longest Drawdown Depth (%)	-32.45	-42.91
Start to Recovery (months)	56	107
Longest Negative Period (months)	118	145
RISK INDICATORS
Standard Deviation (%)	12.53	16.18
Sharpe Ratio	0.46	0.37
Sortino Ratio	0.60	0.55
Ulcer Index	10.70	20.00
Ratio: Return / Standard Deviation	0.64	0.51
Ratio: Return / Deepest Drawdown	0.18	0.19
Metrics calculated over the period 1 April 1996 - 31 March 2026

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	Four Funds	Gold
Author	Bogleheads
ASSET ALLOCATION
Stocks	80%	0%
Fixed Income	20%	0%
Commodities	0%	100%
PERFORMANCES
Annualized Return (%)	9.83	6.58
Infl. Adjusted (%)	6.85	3.70
DRAWDOWN
Deepest Drawdown Depth (%)	-44.08	-48.26
Start to Recovery (months)	42	217
Longest Drawdown Depth (%)	-32.45	-48.26
Start to Recovery (months)	56	217
Longest Negative Period (months)	118	224
RISK INDICATORS
Standard Deviation (%)	12.26	15.34
Sharpe Ratio	0.54	0.22
Sortino Ratio	0.71	0.33
Ulcer Index	9.43	23.92
Ratio: Return / Standard Deviation	0.80	0.43
Ratio: Return / Deepest Drawdown	0.22	0.14
Metrics calculated over the period 1 January 1985 - 31 March 2026

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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 April 1996 - 31 March 2026 (30 years)

Period: 1 January 1985 - 31 March 2026 (~41 years)

30 Years
(1996/04 - 2026/03)

Chart Table

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Four Funds			Gold
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
-44.08	42	Nov 2007 Apr 2011
			-42.91	107	Sep 2011 Jul 2020
			-35.71	92	Apr 1996 Nov 2003
-32.45	56	Apr 2000 Nov 2004
			-25.83	15	Mar 2008 May 2009
-23.20	26	Jan 2022 Feb 2024
			-18.08	40	Aug 2020 Nov 2023
-17.11	7	Jan 2020 Jul 2020
-15.64	11	May 2011 Mar 2012
-12.43	5	Jul 1998 Nov 1998
			-11.05	1*	Mar 2026 In progress
-10.69	15	Feb 2018 Apr 2019
-10.05	14	Jun 2015 Jul 2016
			-8.64	10	Dec 2004 Sep 2005
			-8.63	10	May 2006 Feb 2007

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Four Funds			Gold
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
			-48.26	217	Dec 1987 Dec 2005
-44.08	42	Nov 2007 Apr 2011
			-42.91	107	Sep 2011 Jul 2020
-32.45	56	Apr 2000 Nov 2004
			-25.83	15	Mar 2008 May 2009
-23.20	26	Jan 2022 Feb 2024
-19.18	17	Sep 1987 Jan 1989
			-18.08	40	Aug 2020 Nov 2023
-17.11	7	Jan 2020 Jul 2020
-15.64	11	May 2011 Mar 2012
-15.56	14	Jan 1990 Feb 1991
-12.43	5	Jul 1998 Nov 1998
			-11.05	1*	Mar 2026 In progress
-10.69	15	Feb 2018 Apr 2019
-10.05	14	Jun 2015 Jul 2016

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 - 31 March 2026 (~41 years)

Rolling Period:

Four Funds
Gold

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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	Four Funds		Gold
Year	Return (%)	Drawdown (%)	Return (%)	Drawdown (%)
2026	-1.29	-5.31	8.57	-11.05
2025	19.64	-2.68	63.68	-0.61
2024	13.88	-3.37	26.66	-4.49
2023	18.65	-8.64	12.69	-7.22
2022	-17.06	-23.20	-0.77	-15.91
2021	15.70	-3.50	-4.15	-10.32
2020	15.71	-17.11	24.81	-10.12
2019	23.60	-4.69	17.86	-4.10
2018	-7.02	-10.69	-1.94	-11.66
2017	19.47	0.00	12.81	-4.09
2016	8.61	-4.75	8.03	-15.02
2015	-1.37	-8.95	-10.67	-17.81
2014	5.85	-2.96	-2.19	-12.44
2013	19.92	-2.53	-28.33	-28.33
2012	14.85	-6.92	6.60	-10.45
2011	-1.60	-15.64	9.57	-14.48
2010	13.49	-9.93	29.27	-5.09
2009	26.98	-15.65	24.03	-7.20
2008	-30.83	-33.84	4.92	-25.83
2007	9.23	-4.14	30.45	-4.20
2006	16.29	-3.01	22.55	-8.63
2005	8.31	-3.23	17.76	-4.91
2004	13.90	-2.94	4.65	-8.31
2003	28.68	-3.75	19.89	-8.88
2002	-12.27	-18.10	25.57	-6.72
2001	-9.93	-18.59	0.75	-6.10
2000	-7.07	-11.57	-5.44	-9.93
1999	20.36	-2.99	0.85	-11.47
1998	18.10	-12.43	-0.83	-12.01
1997	17.48	-4.68	-21.41	-21.41
1996	12.38	-3.74	-4.59	-8.95
1995	23.21	-1.02	0.98	-2.46
1994	1.95	-5.19	-2.17	-3.91
1993	16.83	-4.19	17.68	-11.51
1992	1.70	-4.87	-5.73	-6.97
1991	22.43	-4.29	-8.56	-10.05
1990	-8.79	-15.56	-3.11	-15.14
1989	20.86	-2.00	-2.84	-12.30
1988	17.74	-3.23	-15.26	-18.05
1987	10.58	-19.18	24.53	-1.97
1986	29.65	-5.02	18.96	-8.14
1985	35.65	-2.38	6.00	-6.67

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Table of contents

Resources & Extras

Asset Allocations and ETFs

Portfolio Returns as of Mar 31, 2026

Portfolio Metrics as of Mar 31, 2026

Drawdowns

Rolling Returns

Yearly Returns