Bogleheads Three Funds Portfolio vs Roger Gibson Talmud Portfolio Portfolio Comparison

Simulation Settings

Period: January 1970 - May 2025 (~55 years)
Consolidated Returns as of 31 May 2025

Initial Amount: 1$

Rebalancing: at every Jan 1^st

Currency: USD

Inflation: US

(Change Settings)

Results

30 Years
(1995/06 - 2025/05)

All Data
(1970/01 - 2025/05)

Inflation Adjusted:

Bogleheads Three Funds Portfolio

1.00$
Invested Capital
June 1995
10.08$
Final Capital
May 2025
8.01%
Yearly Return
12.43%
Std Deviation
-43.68%
Max Drawdown
42months
Recovery Period

1.00$
Invested Capital
June 1995
4.78$
Final Capital
May 2025
5.35%
Yearly Return
12.43%
Std Deviation
-44.61%
Max Drawdown
63months
Recovery Period

1.00$
Invested Capital
January 1970
159.62$
Final Capital
May 2025
9.59%
Yearly Return
12.52%
Std Deviation
-43.68%
Max Drawdown
42months
Recovery Period

1.00$
Invested Capital
January 1970
18.77$
Final Capital
May 2025
5.43%
Yearly Return
12.52%
Std Deviation
-44.62%
Max Drawdown
124months
Recovery Period

Roger Gibson Talmud Portfolio

1.00$
Invested Capital
June 1995
11.27$
Final Capital
May 2025
8.41%
Yearly Return
10.93%
Std Deviation
-40.17%
Max Drawdown
41months
Recovery Period

1.00$
Invested Capital
June 1995
5.34$
Final Capital
May 2025
5.75%
Yearly Return
10.93%
Std Deviation
-42.21%
Max Drawdown
49months
Recovery Period

1.00$
Invested Capital
January 1970
161.42$
Final Capital
May 2025
9.61%
Yearly Return
10.58%
Std Deviation
-40.17%
Max Drawdown
41months
Recovery Period

1.00$
Invested Capital
January 1970
18.98$
Final Capital
May 2025
5.45%
Yearly Return
10.58%
Std Deviation
-42.21%
Max Drawdown
49months
Recovery Period

As of May 2025, in the previous 30 Years, the Bogleheads Three Funds Portfolio obtained a 8.01% compound annual return, with a 12.43% standard deviation. It suffered a maximum drawdown of -43.68% that required 42 months to be recovered.

As of May 2025, in the previous 30 Years, the Roger Gibson Talmud Portfolio obtained a 8.41% compound annual return, with a 10.93% standard deviation. It suffered a maximum drawdown of -40.17% 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.

Resources & Extras

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.

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

Roger Gibson Talmud Portfolio

Weight (%)	Ticker	Name
33.34	VTI	Vanguard Total Stock Market
33.33	VNQ	Vanguard Real Estate
33.33	BND	Vanguard Total Bond Market

Test Your Asset Allocation

Evaluate your portfolio strategy in 7 different currencies

Try the Backtest Tool

Portfolio Returns as of May 31, 2025

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
(1995/06 - 2025/05)

All Data
(1970/01 - 2025/05)

Inflation Adjusted:

Swipe left to see all data

	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Three Funds Bogleheads	1 $	10.08 $	908.05%	8.01%
Talmud Portfolio Roger Gibson	1 $	11.27 $	1 026.66%	8.41%
	Jun 1995	May 2025

Loading data
Please wait

Swipe left to see all data

	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Three Funds Bogleheads	1 $	4.78 $	378.15%	5.35%
Talmud Portfolio Roger Gibson	1 $	5.34 $	434.41%	5.75%
	Jun 1995	May 2025

Loading data
Please wait

Swipe left to see all data

	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Three Funds Bogleheads	1 $	159.62 $	15 861.74%	9.59%
Talmud Portfolio Roger Gibson	1 $	161.42 $	16 041.58%	9.61%
	Jan 1970	May 2025

Loading data
Please wait

Swipe left to see all data

	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Three Funds Bogleheads	1 $	18.77 $	1 776.61%	5.43%
Talmud Portfolio Roger Gibson	1 $	18.98 $	1 797.75%	5.45%
	Jan 1970	May 2025

Loading data
Please wait

Swipe left to see all data

		Return (%) as of May 31, 2025
		YTD (5M)	1M	6M	1Y	5Y	10Y	30Y	MAX (~55Y)
	Three Funds Bogleheads	4.88	4.31	2.07	11.93	10.68	8.23	8.01	9.59
	Talmud Portfolio Roger Gibson	1.39	2.13	-3.07	10.16	7.27	6.58	8.41	9.61
Returns over 1 year are annualized.

Explore All Lazy Portfolios

Tailored Portfolios for every Investment Strategy

USD

CAD

EUR

Readings that may interest you

Portfolio Metrics as of May 31, 2025

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

METRIC COMPARISON

Period: 1 June 2024 - 31 May 2025 (1 year)

Period: 1 June 2020 - 31 May 2025 (5 years)

Period: 1 June 2015 - 31 May 2025 (10 years)

Period: 1 June 1995 - 31 May 2025 (30 years)

Period: 1 January 1970 - 31 May 2025 (~55 years)

1 Year

5 Years

10 Years

30 Years

All (1970/01 - 2025/05)

Swipe left to see all data

	Three Funds	Talmud Portfolio
Author	Bogleheads	Roger Gibson
ASSET ALLOCATION
Stocks	80%	66.67%
Fixed Income	20%	33.33%
Commodities	0%	0%
PERFORMANCES
Annualized Return (%)	11.93	10.16
Infl. Adjusted (%)	9.33	7.60
DRAWDOWN
Deepest Drawdown Depth (%)	-2.75	-5.09
Start to Recovery (months)	3	6*
Longest Drawdown Depth (%)	-2.68	-5.09
Start to Recovery (months)	3	6*
Longest Negative Period (months)	7	8
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%)	7.96	9.14
Sharpe Ratio	0.91	0.60
Sortino Ratio	1.17	0.75
Ulcer Index	1.36	2.58
Ratio: Return / Standard Deviation	1.50	1.11
Ratio: Return / Deepest Drawdown	4.33	1.99
Metrics calculated over the period 1 June 2024 - 31 May 2025

Swipe left to see all data

	Three Funds	Talmud Portfolio
Author	Bogleheads	Roger Gibson
ASSET ALLOCATION
Stocks	80%	66.67%
Fixed Income	20%	33.33%
Commodities	0%	0%
PERFORMANCES
Annualized Return (%)	10.68	7.27
Infl. Adjusted (%)	5.79	2.54
DRAWDOWN
Deepest Drawdown Depth (%)	-23.18	-22.88
Start to Recovery (months)	26	32
Longest Drawdown Depth (%)	-23.18	-22.88
Start to Recovery (months)	26	32
Longest Negative Period (months)	34	35
RISK INDICATORS
Standard Deviation (%)	13.06	12.93
Sharpe Ratio	0.62	0.36
Sortino Ratio	0.84	0.49
Ulcer Index	7.90	9.90
Ratio: Return / Standard Deviation	0.82	0.56
Ratio: Return / Deepest Drawdown	0.46	0.32
Metrics calculated over the period 1 June 2020 - 31 May 2025

Swipe left to see all data

	Three Funds	Talmud Portfolio
Author	Bogleheads	Roger Gibson
ASSET ALLOCATION
Stocks	80%	66.67%
Fixed Income	20%	33.33%
Commodities	0%	0%
PERFORMANCES
Annualized Return (%)	8.23	6.58
Infl. Adjusted (%)	5.01	3.40
DRAWDOWN
Deepest Drawdown Depth (%)	-23.18	-22.88
Start to Recovery (months)	26	32
Longest Drawdown Depth (%)	-23.18	-22.88
Start to Recovery (months)	26	32
Longest Negative Period (months)	34	35
RISK INDICATORS
Standard Deviation (%)	12.41	11.60
Sharpe Ratio	0.52	0.41
Sortino Ratio	0.69	0.55
Ulcer Index	6.43	7.39
Ratio: Return / Standard Deviation	0.66	0.57
Ratio: Return / Deepest Drawdown	0.36	0.29
Metrics calculated over the period 1 June 2015 - 31 May 2025

Swipe left to see all data

	Three Funds	Talmud Portfolio
Author	Bogleheads	Roger Gibson
ASSET ALLOCATION
Stocks	80%	66.67%
Fixed Income	20%	33.33%
Commodities	0%	0%
PERFORMANCES
Annualized Return (%)	8.01	8.41
Infl. Adjusted (%)	5.35	5.75
DRAWDOWN
Deepest Drawdown Depth (%)	-43.68	-40.17
Start to Recovery (months)	42	41
Longest Drawdown Depth (%)	-33.38	-40.17
Start to Recovery (months)	57	41
Longest Negative Period (months)	118	65
RISK INDICATORS
Standard Deviation (%)	12.43	10.93
Sharpe Ratio	0.46	0.56
Sortino Ratio	0.60	0.72
Ulcer Index	10.83	7.45
Ratio: Return / Standard Deviation	0.64	0.77
Ratio: Return / Deepest Drawdown	0.18	0.21
Metrics calculated over the period 1 June 1995 - 31 May 2025

Swipe left to see all data

	Three Funds	Talmud Portfolio
Author	Bogleheads	Roger Gibson
ASSET ALLOCATION
Stocks	80%	66.67%
Fixed Income	20%	33.33%
Commodities	0%	0%
PERFORMANCES
Annualized Return (%)	9.59	9.61
Infl. Adjusted (%)	5.43	5.45
DRAWDOWN
Deepest Drawdown Depth (%)	-43.68	-40.17
Start to Recovery (months)	42	41
Longest Drawdown Depth (%)	-33.38	-40.17
Start to Recovery (months)	57	41
Longest Negative Period (months)	118	65
RISK INDICATORS
Standard Deviation (%)	12.52	10.58
Sharpe Ratio	0.41	0.49
Sortino Ratio	0.56	0.65
Ulcer Index	9.21	6.52
Ratio: Return / Standard Deviation	0.77	0.91
Ratio: Return / Deepest Drawdown	0.22	0.24
Metrics calculated over the period 1 January 1970 - 31 May 2025

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 June 1995 - 31 May 2025 (30 years)

Period: 1 January 1970 - 31 May 2025 (~55 years)

30 Years
(1995/06 - 2025/05)

Chart Table

Loading data
Please wait

Swipe left to see all data

Three Funds			Talmud Portfolio
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
-43.68	42	Nov 2007 Apr 2011
			-40.17	41	Jun 2007 Oct 2010
-33.38	57	Apr 2000 Dec 2004
-23.18	26	Jan 2022 Feb 2024
			-22.88	32	Jan 2022 Aug 2024
-17.01	7	Jan 2020 Jul 2020
-15.77	17	May 2011 Sep 2012
			-15.16	7	Feb 2020 Aug 2020
-12.46	5	Jul 1998 Nov 1998
-10.53	15	Feb 2018 Apr 2019
			-10.50	8	Jun 2011 Jan 2012
			-10.43	6	Jul 1998 Dec 1998
-9.88	14	Jun 2015 Jul 2016
			-8.26	14	Apr 2002 May 2003
			-7.57	6	Sep 2018 Feb 2019

Loading data
Please wait

Swipe left to see all data

Three Funds			Talmud Portfolio
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
-43.68	42	Nov 2007 Apr 2011
			-40.17	41	Jun 2007 Oct 2010
-34.07	37	Jan 1973 Jan 1976
-33.38	57	Apr 2000 Dec 2004
			-25.53	38	Dec 1972 Jan 1976
-23.18	26	Jan 2022 Feb 2024
			-22.88	32	Jan 2022 Aug 2024
-19.21	17	Sep 1987 Jan 1989
-17.24	12	Jan 1970 Dec 1970
-17.01	7	Jan 2020 Jul 2020
-15.77	17	May 2011 Sep 2012
			-15.52	17	Sep 1987 Jan 1989
-15.31	14	Jan 1990 Feb 1991
			-15.16	7	Feb 2020 Aug 2020
-14.03	23	Dec 1980 Oct 1982

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 1970 - 31 May 2025 (~55 years)

Rolling Period:

Three Funds
Talmud Portfolio

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

	Three Funds		Talmud Portfolio
Year	Return (%)	Drawdown (%)	Return (%)	Drawdown (%)
2025	4.88	-2.75	1.39	-3.70
2024	13.85	-3.44	10.00	-4.87
2023	18.86	-8.74	14.42	-9.16
2022	-17.06	-23.18	-19.62	-22.88
2021	14.95	-3.53	21.44	-3.93
2020	15.39	-17.01	8.02	-15.16
2019	23.65	-4.68	22.79	-1.65
2018	-6.89	-10.53	-3.78	-7.57
2017	19.54	0.00	9.90	-0.80
2016	8.39	-4.82	7.99	-4.84
2015	-1.14	-8.74	1.11	-5.69
2014	6.07	-3.01	16.24	-3.05
2013	20.56	-2.36	11.22	-4.74
2012	14.53	-7.09	12.41	-3.41
2011	-2.14	-15.77	5.83	-10.50
2010	13.50	-9.82	17.33	-7.24
2009	26.45	-15.70	20.87	-18.28
2008	-30.15	-33.07	-22.37	-28.90
2007	8.73	-4.35	-1.40	-7.11
2006	16.69	-3.08	18.42	-3.01
2005	8.30	-3.34	6.88	-3.47
2004	13.49	-2.83	15.93	-6.69
2003	28.27	-3.88	23.46	-1.81
2002	-13.11	-18.90	-2.82	-8.26
2001	-9.84	-18.61	3.27	-5.08
2000	-7.69	-11.84	9.05	-4.13
1999	20.73	-2.88	6.34	-4.64
1998	18.03	-12.46	5.18	-10.43
1997	17.15	-4.61	19.74	-1.89
1996	12.60	-3.77	19.46	-1.65
1995	22.72	-1.03	22.03	-0.94
1994	2.31	-4.84	-3.74	-8.67
1993	16.23	-4.16	13.33	-2.90
1992	1.54	-4.66	10.28	-1.73
1991	22.09	-4.27	27.78	-2.56
1990	-8.74	-15.31	-4.26	-10.14
1989	20.64	-2.08	16.87	-1.33
1988	17.83	-3.20	12.71	-1.50
1987	10.76	-19.21	0.17	-15.52
1986	29.32	-4.89	16.28	-3.57
1985	35.27	-2.34	24.20	-2.28
1984	4.95	-7.57	12.71	-4.02
1983	19.49	-2.98	19.51	-2.63
1982	16.05	-10.52	24.41	-3.38
1981	-1.38	-10.40	3.76	-8.59
1980	24.15	-10.43	20.13	-9.71
1979	15.99	-7.03	21.82	-8.78
1978	13.84	-7.76	6.65	-7.13
1977	3.33	-3.91	6.70	-1.95
1976	16.66	-2.66	29.26	-1.67
1975	29.64	-10.48	21.49	-7.79
1974	-18.66	-25.61	-14.51	-20.06
1973	-11.64	-12.71	-9.74	-10.13
1972	21.03	-1.21	9.45	-2.27
1971	20.20	-5.15	10.45	-6.96
1970	1.50	-17.24	10.08	-12.17

Table of contents

Resources & Extras

Asset Allocations and ETFs

Portfolio Returns as of May 31, 2025

Portfolio Metrics as of May 31, 2025

Drawdowns

Rolling Returns

Yearly Returns