Emerging Markets Stocks Portfolio vs Bill Bernstein Sheltered Sam 100/0 Portfolio Portfolio Comparison

Simulation Settings

Period: January 1976 - April 2025 (~49 years)
Consolidated Returns as of 30 April 2025

Rebalancing: at every Jan 1^st

Currency: USD

Inflation: US

(Change Settings)

Results

30 Years

All (since January 1976)

Inflation Adjusted:

Emerging Markets Stocks Portfolio

1.00$
Initial Capital
May 1995
5.09$
Final Capital
April 2025
5.58%
Yearly Return
22.04%
Std Deviation
-60.44%
Max Drawdown
120months
Recovery Period

1.00$
Initial Capital
May 1995
2.42$
Final Capital
April 2025
2.99%
Yearly Return
22.04%
Std Deviation
-61.09%
Max Drawdown
159months
Recovery Period

1.00$
Initial Capital
January 1976
35.00$
Final Capital
April 2025
7.47%
Yearly Return
23.78%
Std Deviation
-60.44%
Max Drawdown
120months
Recovery Period

1.00$
Initial Capital
January 1976
6.09$
Final Capital
April 2025
3.73%
Yearly Return
23.78%
Std Deviation
-62.18%
Max Drawdown
131months
Recovery Period

Bill Bernstein Sheltered Sam 100/0 Portfolio

1.00$
Initial Capital
May 1995
13.93$
Final Capital
April 2025
9.18%
Yearly Return
15.36%
Std Deviation
-54.91%
Max Drawdown
62months
Recovery Period

1.00$
Initial Capital
May 1995
6.61$
Final Capital
April 2025
6.50%
Yearly Return
15.36%
Std Deviation
-55.66%
Max Drawdown
66months
Recovery Period

1.00$
Initial Capital
January 1976
265.20$
Final Capital
April 2025
11.98%
Yearly Return
14.77%
Std Deviation
-54.91%
Max Drawdown
62months
Recovery Period

1.00$
Initial Capital
January 1976
46.12$
Final Capital
April 2025
8.08%
Yearly Return
14.77%
Std Deviation
-55.66%
Max Drawdown
66months
Recovery Period

As of April 2025, in the previous 30 Years, the Emerging Markets Stocks Portfolio obtained a 5.58% compound annual return, with a 22.04% standard deviation. It suffered a maximum drawdown of -60.44% that required 120 months to be recovered.

As of April 2025, in the previous 30 Years, the Bill Bernstein Sheltered Sam 100/0 Portfolio obtained a 9.18% compound annual return, with a 15.36% standard deviation. It suffered a maximum drawdown of -54.91% that required 62 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.

Emerging Markets Stocks Portfolio

Weight (%)	Ticker	Name
100.00	EEM	iShares MSCI Emerging Markets

Bill Bernstein Sheltered Sam 100/0 Portfolio

Weight (%)	Ticker	Name
25.00	VTV	Vanguard Value
20.00	VV	Vanguard Large-Cap
15.00	IJS	iShares S&P Small-Cap 600 Value
10.00	VNQ	Vanguard Real Estate
7.00	EFV	iShares MSCI EAFE Value
5.00	EEM	iShares MSCI Emerging Markets
5.00	IJR	iShares Core S&P Small-Cap
5.00	VGK	Vanguard FTSE Europe
5.00	VPL	Vanguard FTSE Pacific
3.00	GLTR	Aberdeen Standard Physical Precious Metals Basket Shares

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Portfolio Returns as of Apr 30, 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

Period: 1 January 1976 - 30 April 2025 (~49 years)

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		Return (%) as of Apr 30, 2025
		YTD (4M)	1M	6M	1Y	5Y	10Y	30Y	MAX (~49Y)
	Emerging Markets Stocks -- Market Benchmark	4.64	0.14	0.11	9.31	5.91	2.44	5.58	7.47
	Sheltered Sam 100/0 Bill Bernstein	-1.09	-1.50	-1.47	10.04	12.72	8.24	9.18	11.98
Return over 1 year are annualized.

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Capital Growth as of Apr 30, 2025

Emerging Markets Stocks Portfolio: an investment of 1$, since May 1995, now would be worth 5.09$, with a total return of 409.36% (5.58% annualized).

Bill Bernstein Sheltered Sam 100/0 Portfolio: an investment of 1$, since May 1995, now would be worth 13.93$, with a total return of 1292.94% (9.18% annualized).

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Emerging Markets Stocks Portfolio: an investment of 1$, since January 1976, now would be worth 35.00$, with a total return of 3399.65% (7.47% annualized).

Bill Bernstein Sheltered Sam 100/0 Portfolio: an investment of 1$, since January 1976, now would be worth 265.20$, with a total return of 26419.67% (11.98% annualized).

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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 1976 - 30 April 2025 (~49 years)

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	Emerging Markets Stocks	Sheltered Sam 100/0
Author		Bill Bernstein
ASSET ALLOCATION
Stocks	100%	97%
Fixed Income	0%	0%
Commodities	0%	3%
PERFORMANCES
Annualized Return (%)	9.31	10.04
Infl. Adjusted Return (%)	7.09	7.81
DRAWDOWN
Deepest Drawdown Depth (%)	-7.27	-6.08
Start to Recovery (months)	7*	5*
Longest Drawdown Depth (%)	-7.27	-6.08
Start to Recovery (months)	7*	5*
Longest Negative Period (months)	7*	8*
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%)	8.06	10.77
Sharpe Ratio	0.56	0.49
Sortino Ratio	0.78	0.66
Ulcer Index	3.49	2.72
Ratio: Return / Standard Deviation	1.16	0.93
Ratio: Return / Deepest Drawdown	1.28	1.65
Metrics calculated over the period 1 May 2024 - 30 April 2025

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	Emerging Markets Stocks	Sheltered Sam 100/0
Author		Bill Bernstein
ASSET ALLOCATION
Stocks	100%	97%
Fixed Income	0%	0%
Commodities	0%	3%
PERFORMANCES
Annualized Return (%)	5.91	12.72
Infl. Adjusted Return (%)	1.31	7.83
DRAWDOWN
Deepest Drawdown Depth (%)	-36.52	-21.73
Start to Recovery (months)	46*	24
Longest Drawdown Depth (%)	-36.52	-21.73
Start to Recovery (months)	46*	24
Longest Negative Period (months)	53*	31
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%)	16.07	15.38
Sharpe Ratio	0.21	0.66
Sortino Ratio	0.31	0.93
Ulcer Index	18.47	6.53
Ratio: Return / Standard Deviation	0.37	0.83
Ratio: Return / Deepest Drawdown	0.16	0.59
Metrics calculated over the period 1 May 2020 - 30 April 2025

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	Emerging Markets Stocks	Sheltered Sam 100/0
Author		Bill Bernstein
ASSET ALLOCATION
Stocks	100%	97%
Fixed Income	0%	0%
Commodities	0%	3%
PERFORMANCES
Annualized Return (%)	2.44	8.24
Infl. Adjusted Return (%)	-0.61	5.01
DRAWDOWN
Deepest Drawdown Depth (%)	-36.52	-25.40
Start to Recovery (months)	46*	11
Longest Drawdown Depth (%)	-36.52	-21.73
Start to Recovery (months)	46*	24
Longest Negative Period (months)	90	38
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%)	16.97	15.12
Sharpe Ratio	0.04	0.43
Sortino Ratio	0.06	0.58
Ulcer Index	17.09	6.52
Ratio: Return / Standard Deviation	0.14	0.54
Ratio: Return / Deepest Drawdown	0.07	0.32
Metrics calculated over the period 1 May 2015 - 30 April 2025

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	Emerging Markets Stocks	Sheltered Sam 100/0
Author		Bill Bernstein
ASSET ALLOCATION
Stocks	100%	97%
Fixed Income	0%	0%
Commodities	0%	3%
PERFORMANCES
Annualized Return (%)	5.58	9.18
Infl. Adjusted Return (%)	2.99	6.50
DRAWDOWN
Deepest Drawdown Depth (%)	-60.44	-54.91
Start to Recovery (months)	120	62
Longest Drawdown Depth (%)	-60.44	-54.91
Start to Recovery (months)	120	62
Longest Negative Period (months)	195	116
RISK INDICATORS
Standard Deviation (%)	22.04	15.36
Sharpe Ratio	0.15	0.45
Sortino Ratio	0.20	0.58
Ulcer Index	21.49	11.40
Ratio: Return / Standard Deviation	0.25	0.60
Ratio: Return / Deepest Drawdown	0.09	0.17
Metrics calculated over the period 1 May 1995 - 30 April 2025

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	Emerging Markets Stocks	Sheltered Sam 100/0
Author		Bill Bernstein
ASSET ALLOCATION
Stocks	100%	97%
Fixed Income	0%	0%
Commodities	0%	3%
PERFORMANCES
Annualized Return (%)	7.47	11.98
Infl. Adjusted Return (%)	3.73	8.08
DRAWDOWN
Deepest Drawdown Depth (%)	-60.44	-54.91
Start to Recovery (months)	120	62
Longest Drawdown Depth (%)	-54.22	-54.91
Start to Recovery (months)	120	62
Longest Negative Period (months)	195	116
RISK INDICATORS
Standard Deviation (%)	23.78	14.77
Sharpe Ratio	0.14	0.52
Sortino Ratio	0.19	0.68
Ulcer Index	22.66	9.49
Ratio: Return / Standard Deviation	0.31	0.81
Ratio: Return / Deepest Drawdown	0.12	0.22
Metrics calculated over the period 1 January 1976 - 30 April 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 May 1995 - 30 April 2025 (30 years)

Period: 1 January 1976 - 30 April 2025 (~49 years)

Chart Table

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Emerging Markets Stocks			Sheltered Sam 100/0
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
-60.44	120	Nov 2007 Oct 2017
			-54.91	62	Nov 2007 Dec 2012
-53.99	78	Aug 1997 Jan 2004
-36.52	46*	Jul 2021 In progress
-29.69	34	Feb 2018 Nov 2020
			-25.69	33	Feb 2001 Oct 2003
			-25.40	11	Jan 2020 Nov 2020
			-21.73	24	Jan 2022 Dec 2023
			-19.86	12	May 1998 Apr 1999
			-13.05	11	Sep 2018 Jul 2019
-11.25	7	Apr 2004 Oct 2004
-11.14	7	May 2006 Nov 2006
			-10.21	14	Jun 2015 Jul 2016
-9.06	5	Mar 2005 Jul 2005
			-7.66	5	Sep 2000 Jan 2001

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Emerging Markets Stocks			Sheltered Sam 100/0
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
-60.44	120	Nov 2007 Oct 2017
-55.33	31	Mar 1987 Sep 1989
-55.05	66	Dec 1980 May 1986
			-54.91	62	Nov 2007 Dec 2012
-54.22	120	Feb 1994 Jan 2004
-36.52	46*	Jul 2021 In progress
-34.47	7	Aug 1990 Feb 1991
-29.69	34	Feb 2018 Nov 2020
			-25.69	33	Feb 2001 Oct 2003
			-25.44	17	Sep 1987 Jan 1989
			-25.40	11	Jan 2020 Nov 2020
-23.01	11	Jun 1992 Apr 1993
			-21.73	24	Jan 2022 Dec 2023
			-19.86	12	May 1998 Apr 1999
			-17.87	15	Jan 1990 Mar 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 1976 - 30 April 2025 (~49 years)

Rolling Period:

Emerging Markets Stocks
Sheltered Sam 100/0

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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	Emerging Markets Stocks		Sheltered Sam 100/0
Year	Return (%)	Drawdown (%)	Return (%)	Drawdown (%)
2025	4.64	0.00	-1.09	-4.28
2024	6.49	-7.27	12.55	-5.05
2023	8.95	-12.51	15.57	-10.57
2022	-20.56	-29.40	-12.59	-21.73
2021	-3.61	-11.44	23.26	-3.71
2020	17.03	-23.94	7.92	-25.40
2019	18.20	-7.82	25.10	-6.15
2018	-15.31	-22.75	-8.54	-13.05
2017	37.28	-0.39	18.07	-0.33
2016	10.87	-5.81	14.96	-5.02
2015	-16.18	-23.20	-2.58	-9.91
2014	-3.93	-11.58	8.93	-3.76
2013	-3.69	-13.17	25.60	-3.08
2012	19.10	-14.96	16.72	-8.15
2011	-18.82	-29.09	-1.94	-19.96
2010	16.51	-10.81	18.03	-13.01
2009	68.93	-14.98	28.40	-22.79
2008	-48.88	-53.98	-36.97	-40.41
2007	33.31	-8.97	2.63	-7.36
2006	31.19	-11.14	22.83	-3.80
2005	32.62	-9.06	11.09	-4.34
2004	24.63	-11.25	19.02	-4.74
2003	57.65	-5.76	37.23	-5.25
2002	-7.43	-24.27	-13.43	-22.61
2001	-2.88	-30.79	-5.06	-17.43
2000	-27.56	-31.63	2.19	-7.66
1999	61.57	-4.87	17.38	-4.45
1998	-18.12	-40.98	8.80	-19.86
1997	-16.82	-27.85	20.21	-4.83
1996	15.83	-6.73	19.51	-4.76
1995	0.56	-11.22	25.90	-2.38
1994	-20.17	-25.83	-1.11	-7.23
1993	100.42	-5.91	25.63	-3.08
1992	-10.90	-23.01	9.73	-2.45
1991	111.70	-7.61	31.84	-4.60
1990	-1.92	-34.47	-11.83	-17.87
1989	98.20	-6.54	26.34	-3.57
1988	36.81	-6.67	20.88	-2.67
1987	-46.69	-55.33	3.74	-25.44
1986	11.58	-9.07	26.09	-4.93
1985	27.58	-4.87	35.09	-3.17
1984	16.85	-4.31	7.75	-6.32
1983	14.20	-3.85	26.03	-1.94
1982	-31.65	-40.30	18.67	-10.66
1981	-20.21	-22.51	-0.04	-10.30
1980	6.80	-13.68	28.25	-12.26
1979	19.35	-6.39	25.49	-8.19
1978	14.19	-7.84	14.91	-9.70
1977	6.78	-3.89	7.35	-3.04
1976	6.79	-7.97	29.03	-2.46

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Mastering ETF Investing

Build wealth
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Table of contents

Resources & Extras

Asset Allocations and ETFs

Portfolio Returns as of Apr 30, 2025

Capital Growth as of Apr 30, 2025

Portfolio Metrics as of Apr 30, 2025

Drawdowns

Rolling Returns

Yearly Returns