Bogleheads Three Funds Portfolio vs Larry Swedroe Larry Portfolio Portfolio Comparison

Simulation Settings
Period: January 1976 - August 2025 (~50 years)
Consolidated Returns as of 31 August 2025
Initial Amount: 1$
Rebalancing: at every Jan 1st
Currency: USD
Inflation: US
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Results
30 Years
(1995/09 - 2025/08)
All Data
(1976/01 - 2025/08)
Inflation Adjusted:
Bogleheads Three Funds Portfolio
1.00$
Invested Capital
September 1995
10.35$
Final Capital
August 2025
8.10%
Yearly Return
12.44%
Std Deviation
-43.68%
Max Drawdown
42months
Recovery Period
1.00$
Invested Capital
September 1995
4.91$
Final Capital
August 2025
5.45%
Yearly Return
12.44%
Std Deviation
-44.61%
Max Drawdown
63months
Recovery Period
1.00$
Invested Capital
January 1976
124.85$
Final Capital
August 2025
10.21%
Yearly Return
12.27%
Std Deviation
-43.68%
Max Drawdown
42months
Recovery Period
1.00$
Invested Capital
January 1976
21.54$
Final Capital
August 2025
6.38%
Yearly Return
12.27%
Std Deviation
-44.61%
Max Drawdown
63months
Recovery Period
Larry Swedroe Larry Portfolio
1.00$
Invested Capital
September 1995
5.67$
Final Capital
August 2025
5.95%
Yearly Return
5.54%
Std Deviation
-15.96%
Max Drawdown
49months
Recovery Period
1.00$
Invested Capital
September 1995
2.69$
Final Capital
August 2025
3.35%
Yearly Return
5.54%
Std Deviation
-25.23%
Max Drawdown
51months*
Recovery Period
* in progress
1.00$
Invested Capital
January 1976
58.94$
Final Capital
August 2025
8.55%
Yearly Return
6.73%
Std Deviation
-15.96%
Max Drawdown
49months
Recovery Period
1.00$
Invested Capital
January 1976
10.17$
Final Capital
August 2025
4.78%
Yearly Return
6.73%
Std Deviation
-25.23%
Max Drawdown
51months*
Recovery Period
* in progress

As of August 2025, in the previous 30 Years, the Bogleheads Three Funds Portfolio obtained a 8.10% compound annual return, with a 12.44% standard deviation. It suffered a maximum drawdown of -43.68% that required 42 months to be recovered.

As of August 2025, in the previous 30 Years, the Larry Swedroe Larry Portfolio obtained a 5.95% compound annual return, with a 5.54% standard deviation. It suffered a maximum drawdown of -15.96% that required 49 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.

Bogleheads Three Funds Portfolio
Weight
(%)		 Ticker Name
50.00
VTI
Vanguard Total Stock Market
30.00
VEU
Vanguard FTSE All-World ex-US
20.00
BND
Vanguard Total Bond Market
Larry Swedroe Larry Portfolio
Weight
(%)		 Ticker Name
15.00
IJS
iShares S&P Small-Cap 600 Value
7.50
DLS
WisdomTree International SmallCp Div
7.50
EEM
iShares MSCI Emerging Markets
70.00
IEI
iShares 3-7 Year Treasury Bond
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Portfolio Returns as of Aug 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
30 Years
(1995/09 - 2025/08)
All Data
(1976/01 - 2025/08)
Inflation Adjusted:
Swipe left to see all data
Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Bogleheads Three Funds
Bogleheads 		1 $ 10.35 $ 935.36% 8.10%
Larry Swedroe Larry Portfolio
Larry Swedroe 		1 $ 5.67 $ 466.66% 5.95%
Sep 1995 Aug 2025

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Bogleheads Three Funds
Bogleheads 		1 $ 4.91 $ 391.31% 5.45%
Larry Swedroe Larry Portfolio
Larry Swedroe 		1 $ 2.69 $ 168.90% 3.35%
Sep 1995 Aug 2025

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Bogleheads Three Funds
Bogleheads 		1 $ 124.85 $ 12 385.23% 10.21%
Larry Swedroe Larry Portfolio
Larry Swedroe 		1 $ 58.94 $ 5 794.33% 8.55%
Jan 1976 Aug 2025

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Bogleheads Three Funds
Bogleheads 		1 $ 21.54 $ 2 054.40% 6.38%
Larry Swedroe Larry Portfolio
Larry Swedroe 		1 $ 10.17 $ 917.10% 4.78%
Jan 1976 Aug 2025

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Return (%) as of Aug 31, 2025
YTD
(8M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~50Y)
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_bogleheads.webp Three Funds
Bogleheads 		12.87 2.70 9.83 13.64 9.83 9.75 8.10 10.21
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_larry_swedroe.webp Larry Portfolio
Larry Swedroe 		7.90 2.82 6.30 6.64 2.82 3.62 5.95 8.55
Returns over 1 year are annualized.
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Portfolio Metrics as of Aug 31, 2025

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

METRIC COMPARISON
Period: 1 September 2024 - 31 August 2025 (1 year)
Period: 1 September 2020 - 31 August 2025 (5 years)
Period: 1 September 2015 - 31 August 2025 (10 years)
Period: 1 September 1995 - 31 August 2025 (30 years)
Period: 1 January 1976 - 31 August 2025 (~50 years)
1 Year
5 Years
10 Years
30 Years
All (1976/01 - 2025/08)
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Three Funds Larry Portfolio
Author Bogleheads Larry Swedroe
ASSET ALLOCATION
Stocks 80% 30%
Fixed Income 20% 70%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 13.64 6.64
Infl. Adjusted (%) 10.78 3.96
DRAWDOWN
Deepest Drawdown Depth (%) -2.75 -2.61
Start to Recovery (months) 3 9
Longest Drawdown Depth (%) -2.68 -2.61
Start to Recovery (months) 3 9
Longest Negative Period (months) 7 8
RISK INDICATORS
Standard Deviation (%) 8.50 5.25
Sharpe Ratio 1.08 0.42
Sortino Ratio 1.43 0.54
Ulcer Index 1.36 1.26
Ratio: Return / Standard Deviation 1.60 1.26
Ratio: Return / Deepest Drawdown 4.95 2.54
Metrics calculated over the period 1 September 2024 - 31 August 2025
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Three Funds Larry Portfolio
Author Bogleheads Larry Swedroe
ASSET ALLOCATION
Stocks 80% 30%
Fixed Income 20% 70%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 9.83 2.82
Infl. Adjusted (%) 5.17 -1.54
DRAWDOWN
Deepest Drawdown Depth (%) -23.18 -15.96
Start to Recovery (months) 26 49
Longest Drawdown Depth (%) -23.18 -15.96
Start to Recovery (months) 26 49
Longest Negative Period (months) 34 49
RISK INDICATORS
Standard Deviation (%) 12.94 7.27
Sharpe Ratio 0.54 0.00
Sortino Ratio 0.74 0.00
Ulcer Index 7.90 7.13
Ratio: Return / Standard Deviation 0.76 0.39
Ratio: Return / Deepest Drawdown 0.42 0.18
Metrics calculated over the period 1 September 2020 - 31 August 2025
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Three Funds Larry Portfolio
Author Bogleheads Larry Swedroe
ASSET ALLOCATION
Stocks 80% 30%
Fixed Income 20% 70%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 9.75 3.62
Infl. Adjusted (%) 6.48 0.53
DRAWDOWN
Deepest Drawdown Depth (%) -23.18 -15.96
Start to Recovery (months) 26 49
Longest Drawdown Depth (%) -23.18 -15.96
Start to Recovery (months) 26 49
Longest Negative Period (months) 34 52
RISK INDICATORS
Standard Deviation (%) 12.28 5.95
Sharpe Ratio 0.64 0.29
Sortino Ratio 0.85 0.40
Ulcer Index 6.23 5.15
Ratio: Return / Standard Deviation 0.79 0.61
Ratio: Return / Deepest Drawdown 0.42 0.23
Metrics calculated over the period 1 September 2015 - 31 August 2025
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Three Funds Larry Portfolio
Author Bogleheads Larry Swedroe
ASSET ALLOCATION
Stocks 80% 30%
Fixed Income 20% 70%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 8.10 5.95
Infl. Adjusted (%) 5.45 3.35
DRAWDOWN
Deepest Drawdown Depth (%) -43.68 -15.96
Start to Recovery (months) 42 49
Longest Drawdown Depth (%) -33.38 -15.96
Start to Recovery (months) 57 49
Longest Negative Period (months) 118 52
RISK INDICATORS
Standard Deviation (%) 12.44 5.54
Sharpe Ratio 0.47 0.67
Sortino Ratio 0.61 0.91
Ulcer Index 10.83 3.30
Ratio: Return / Standard Deviation 0.65 1.08
Ratio: Return / Deepest Drawdown 0.19 0.37
Metrics calculated over the period 1 September 1995 - 31 August 2025
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Three Funds Larry Portfolio
Author Bogleheads Larry Swedroe
ASSET ALLOCATION
Stocks 80% 30%
Fixed Income 20% 70%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 10.21 8.55
Infl. Adjusted (%) 6.38 4.78
DRAWDOWN
Deepest Drawdown Depth (%) -43.68 -15.96
Start to Recovery (months) 42 49
Longest Drawdown Depth (%) -33.38 -15.96
Start to Recovery (months) 57 49
Longest Negative Period (months) 118 52
RISK INDICATORS
Standard Deviation (%) 12.27 6.73
Sharpe Ratio 0.49 0.64
Sortino Ratio 0.65 0.90
Ulcer Index 8.86 2.99
Ratio: Return / Standard Deviation 0.83 1.27
Ratio: Return / Deepest Drawdown 0.23 0.54
Metrics calculated over the period 1 January 1976 - 31 August 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 September 1995 - 31 August 2025 (30 years)
Period: 1 January 1976 - 31 August 2025 (~50 years)
30 Years
(1995/09 - 2025/08)

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Three Funds Larry Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-43.68 42 Nov 2007
Apr 2011
-33.38 57 Apr 2000
Dec 2004
-23.18 26 Jan 2022
Feb 2024
-17.01 7 Jan 2020
Jul 2020
-15.96 49 Jun 2021
Jun 2025
-15.77 17 May 2011
Sep 2012
-12.46 5 Jul 1998
Nov 1998
-11.47 16 Apr 2008
Jul 2009
-10.53 15 Feb 2018
Apr 2019
-9.88 14 Jun 2015
Jul 2016
-5.38 7 Jan 2020
Jul 2020
-5.14 7 May 1998
Nov 1998
-4.68 2 May 2019
Jun 2019
-4.61 2 Aug 1997
Sep 1997
-4.11 4 Oct 1997
Jan 1998

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Three Funds Larry Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-43.68 42 Nov 2007
Apr 2011
-33.38 57 Apr 2000
Dec 2004
-23.18 26 Jan 2022
Feb 2024
-19.21 17 Sep 1987
Jan 1989
-17.01 7 Jan 2020
Jul 2020
-15.96 49 Jun 2021
Jun 2025
-15.77 17 May 2011
Sep 2012
-15.31 14 Jan 1990
Feb 1991
-14.03 23 Dec 1980
Oct 1982
-12.46 5 Jul 1998
Nov 1998
-11.47 16 Apr 2008
Jul 2009
-10.53 15 Feb 2018
Apr 2019
-10.43 5 Feb 1980
Jun 1980
-9.88 14 Jun 2015
Jul 2016
-9.49 9 Sep 1979
May 1980

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 1976 - 31 August 2025 (~50 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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Three Funds Larry Portfolio
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2025
 12.87 -2.75 7.90 -0.29
2024
 13.85 -3.44 3.09 -2.61
2023
 18.86 -8.74 6.94 -6.22
2022
 -17.06 -23.18 -11.20 -14.55
2021
 14.95 -3.53 3.41 -2.64
2020
 15.39 -17.01 6.44 -5.38
2019
 23.65 -4.68 10.64 -1.45
2018
 -6.89 -10.53 -3.54 -4.08
2017
 19.54 0.00 7.74 0.00
2016
 8.39 -4.82 6.87 -1.26
2015
 -1.14 -8.74 -0.54 -3.22
2014
 6.07 -3.01 2.38 -2.37
2013
 20.56 -2.36 6.31 -2.41
2012
 14.53 -7.09 7.27 -2.25
2011
 -2.14 -15.77 3.23 -3.97
2010
 13.50 -9.82 10.82 -2.16
2009
 26.45 -15.70 10.12 -7.76
2008
 -30.15 -33.07 -2.44 -7.60
2007
 8.73 -4.35 8.99 -0.45
2006
 16.69 -3.08 9.57 -2.17
2005
 8.30 -3.34 6.71 -1.81
2004
 13.49 -2.83 10.23 -3.98
2003
 28.27 -3.88 16.93 -0.92
2002
 -13.11 -18.90 7.68 -1.92
2001
 -9.84 -18.61 6.47 -2.38
2000
 -7.69 -11.84 10.81 -1.59
1999
 20.73 -2.88 4.08 -3.38
1998
 18.03 -12.46 6.06 -5.14
1997
 17.15 -4.61 8.62 -1.80
1996
 12.60 -3.77 5.81 -1.78
1995
 22.72 -1.03 18.99 0.00
1994
 2.31 -4.84 -4.77 -7.44
1993
 16.23 -4.16 20.95 -1.55
1992
 1.54 -4.66 9.36 -1.05
1991
 22.09 -4.27 26.47 -2.04
1990
 -8.74 -15.31 1.93 -6.63
1989
 20.64 -2.08 22.14 0.00
1988
 17.83 -3.20 12.93 -1.48
1987
 10.76 -19.21 -0.86 -9.16
1986
 29.32 -4.89 17.85 -3.07
1985
 35.27 -2.34 27.10 -0.72
1984
 4.95 -7.57 12.87 -5.07
1983
 19.49 -2.98 13.15 -1.80
1982
 16.05 -10.52 24.76 -2.37
1981
 -1.38 -10.40 7.24 -5.83
1980
 24.15 -10.43 8.19 -8.91
1979
 15.99 -7.03 11.24 -7.04
1978
 13.84 -7.76 7.42 -5.66
1977
 3.33 -3.91 5.31 -1.98
1976
 16.66 -2.66 18.63 -1.58
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