Gold Portfolio vs Bill Bernstein No Brainer 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 1st
Currency: USD
Inflation: US
(Change Settings)
The minimum date range must be at least 12 months. 'Date To' cannot be beyond May 2025.
Reset settings
Close
Results
30 Years
(1995/06 - 2025/05)
All Data
(1970/01 - 2025/05)
Inflation Adjusted:
Gold Portfolio
1.00$
Invested Capital
June 1995
7.86$
Final Capital
May 2025
7.11%
Yearly Return
15.68%
Std Deviation
-42.91%
Max Drawdown
107months
Recovery Period
1.00$
Invested Capital
June 1995
3.73$
Final Capital
May 2025
4.48%
Yearly Return
15.68%
Std Deviation
-45.71%
Max Drawdown
158months
Recovery Period
1.00$
Invested Capital
January 1970
85.89$
Final Capital
May 2025
8.37%
Yearly Return
19.27%
Std Deviation
-61.78%
Max Drawdown
319months
Recovery Period
1.00$
Invested Capital
January 1970
10.10$
Final Capital
May 2025
4.26%
Yearly Return
19.27%
Std Deviation
-82.52%
Max Drawdown
542months
Recovery Period
Bill Bernstein No Brainer Portfolio
1.00$
Invested Capital
June 1995
9.05$
Final Capital
May 2025
7.62%
Yearly Return
11.82%
Std Deviation
-40.40%
Max Drawdown
40months
Recovery Period
1.00$
Invested Capital
June 1995
4.29$
Final Capital
May 2025
4.98%
Yearly Return
11.82%
Std Deviation
-41.38%
Max Drawdown
63months
Recovery Period
1.00$
Invested Capital
January 1970
151.90$
Final Capital
May 2025
9.49%
Yearly Return
12.03%
Std Deviation
-40.40%
Max Drawdown
40months
Recovery Period
1.00$
Invested Capital
January 1970
17.86$
Final Capital
May 2025
5.34%
Yearly Return
12.03%
Std Deviation
-44.23%
Max Drawdown
95months
Recovery Period

As of May 2025, in the previous 30 Years, the Gold Portfolio obtained a 7.11% compound annual return, with a 15.68% standard deviation. It suffered a maximum drawdown of -42.91% that required 107 months to be recovered.

As of May 2025, in the previous 30 Years, the Bill Bernstein No Brainer Portfolio obtained a 7.62% compound annual return, with a 11.82% standard deviation. It suffered a maximum drawdown of -40.40% that required 40 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.

Gold Portfolio
Weight
(%)		 Ticker Name
100.00
GLD
SPDR Gold Trust
Bill Bernstein No Brainer Portfolio
Weight
(%)		 Ticker Name
25.00
IJR
iShares Core S&P Small-Cap
25.00
VEU
Vanguard FTSE All-World ex-US
25.00
VV
Vanguard Large-Cap
25.00
SHY
iShares 1-3 Year Treasury Bond
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 1st.
  • 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 (%)
Gold
 1 $ 7.86 $ 685.68% 7.11%
Bill Bernstein No Brainer Portfolio
Bill Bernstein 		1 $ 9.05 $ 805.15% 7.62%
Jun 1995 May 2025

Loading data
Please wait
Swipe left to see all data
Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Gold
 1 $ 3.73 $ 272.67% 4.48%
Bill Bernstein No Brainer Portfolio
Bill Bernstein 		1 $ 4.29 $ 329.34% 4.98%
Jun 1995 May 2025

Loading data
Please wait
Swipe left to see all data
Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Gold
 1 $ 85.89 $ 8 488.83% 8.37%
Bill Bernstein No Brainer Portfolio
Bill Bernstein 		1 $ 151.90 $ 15 090.23% 9.49%
Jan 1970 May 2025

Loading data
Please wait
Swipe left to see all data
Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Gold
 1 $ 10.10 $ 909.78% 4.26%
Bill Bernstein No Brainer Portfolio
Bill Bernstein 		1 $ 17.86 $ 1 685.90% 5.34%
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)
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_gold.webp Gold
-- Market Benchmark 		25.39 -0.06 23.62 41.01 13.26 10.28 7.11 8.37
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_bernstein.webp No Brainer Portfolio
Bill Bernstein 		2.24 3.94 -1.17 8.05 9.87 7.13 7.62 9.49
Returns over 1 year are annualized.
Explore All Lazy Portfolios
Tailored Portfolios for every Investment Strategy
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
Gold No Brainer Portfolio
Author Bill Bernstein
ASSET ALLOCATION
Stocks 0% 75%
Fixed Income 0% 25%
Commodities 100% 0%
PERFORMANCES
Annualized Return (%) 41.01 8.05
Infl. Adjusted (%) 37.74 5.54
DRAWDOWN
Deepest Drawdown Depth (%) -4.49 -4.91
Start to Recovery (months) 3 6*
Longest Drawdown Depth (%) -4.49 -4.91
Start to Recovery (months) 3 6*
Longest Negative Period (months) 3 9
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 12.32 8.80
Sharpe Ratio 2.95 0.38
Sortino Ratio 4.14 0.53
Ulcer Index 1.52 2.30
Ratio: Return / Standard Deviation 3.33 0.91
Ratio: Return / Deepest Drawdown 9.14 1.64
Metrics calculated over the period 1 June 2024 - 31 May 2025
Swipe left to see all data
Gold No Brainer Portfolio
Author Bill Bernstein
ASSET ALLOCATION
Stocks 0% 75%
Fixed Income 0% 25%
Commodities 100% 0%
PERFORMANCES
Annualized Return (%) 13.26 9.87
Infl. Adjusted (%) 8.26 5.02
DRAWDOWN
Deepest Drawdown Depth (%) -18.08 -19.76
Start to Recovery (months) 40 26
Longest Drawdown Depth (%) -18.08 -19.76
Start to Recovery (months) 40 26
Longest Negative Period (months) 39 32
RISK INDICATORS
Standard Deviation (%) 14.73 12.23
Sharpe Ratio 0.72 0.59
Sortino Ratio 1.09 0.83
Ulcer Index 6.97 6.62
Ratio: Return / Standard Deviation 0.90 0.81
Ratio: Return / Deepest Drawdown 0.73 0.50
Metrics calculated over the period 1 June 2020 - 31 May 2025
Swipe left to see all data
Gold No Brainer Portfolio
Author Bill Bernstein
ASSET ALLOCATION
Stocks 0% 75%
Fixed Income 0% 25%
Commodities 100% 0%
PERFORMANCES
Annualized Return (%) 10.28 7.13
Infl. Adjusted (%) 7.00 3.94
DRAWDOWN
Deepest Drawdown Depth (%) -18.08 -19.76
Start to Recovery (months) 40 26
Longest Drawdown Depth (%) -18.08 -19.76
Start to Recovery (months) 40 26
Longest Negative Period (months) 40 33
RISK INDICATORS
Standard Deviation (%) 14.10 11.87
Sharpe Ratio 0.60 0.45
Sortino Ratio 0.90 0.60
Ulcer Index 6.65 5.80
Ratio: Return / Standard Deviation 0.73 0.60
Ratio: Return / Deepest Drawdown 0.57 0.36
Metrics calculated over the period 1 June 2015 - 31 May 2025
Swipe left to see all data
Gold No Brainer Portfolio
Author Bill Bernstein
ASSET ALLOCATION
Stocks 0% 75%
Fixed Income 0% 25%
Commodities 100% 0%
PERFORMANCES
Annualized Return (%) 7.11 7.62
Infl. Adjusted (%) 4.48 4.98
DRAWDOWN
Deepest Drawdown Depth (%) -42.91 -40.40
Start to Recovery (months) 107 40
Longest Drawdown Depth (%) -42.91 -24.46
Start to Recovery (months) 107 45
Longest Negative Period (months) 145 110
RISK INDICATORS
Standard Deviation (%) 15.68 11.82
Sharpe Ratio 0.31 0.45
Sortino Ratio 0.46 0.59
Ulcer Index 20.46 8.72
Ratio: Return / Standard Deviation 0.45 0.64
Ratio: Return / Deepest Drawdown 0.17 0.19
Metrics calculated over the period 1 June 1995 - 31 May 2025
Swipe left to see all data
Gold No Brainer Portfolio
Author Bill Bernstein
ASSET ALLOCATION
Stocks 0% 75%
Fixed Income 0% 25%
Commodities 100% 0%
PERFORMANCES
Annualized Return (%) 8.37 9.49
Infl. Adjusted (%) 4.26 5.34
DRAWDOWN
Deepest Drawdown Depth (%) -61.78 -40.40
Start to Recovery (months) 319 40
Longest Drawdown Depth (%) -61.78 -24.46
Start to Recovery (months) 319 45
Longest Negative Period (months) 329 110
RISK INDICATORS
Standard Deviation (%) 19.27 12.03
Sharpe Ratio 0.20 0.42
Sortino Ratio 0.32 0.56
Ulcer Index 33.59 7.89
Ratio: Return / Standard Deviation 0.43 0.79
Ratio: Return / Deepest Drawdown 0.14 0.23
Metrics calculated over the period 1 January 1970 - 31 May 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 June 1995 - 31 May 2025 (30 years)
Period: 1 January 1970 - 31 May 2025 (~55 years)
30 Years
(1995/06 - 2025/05)

Loading data
Please wait
Swipe left to see all data
Gold No Brainer Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-42.91 107 Sep 2011
Jul 2020
-40.40 40 Nov 2007
Feb 2011
-37.17 95 Feb 1996
Dec 2003
-25.83 15 Mar 2008
May 2009
-24.46 45 Apr 2000
Dec 2003
-19.76 26 Jan 2022
Feb 2024
-18.24 8 Jan 2020
Aug 2020
-18.08 40 Aug 2020
Nov 2023
-16.20 17 May 2011
Sep 2012
-13.95 8 May 1998
Dec 1998
-11.92 14 Sep 2018
Oct 2019
-9.17 14 Jun 2015
Jul 2016
-8.64 10 Dec 2004
Sep 2005
-8.63 10 May 2006
Feb 2007
-8.37 6 Dec 2009
May 2010

Loading data
Please wait
Swipe left to see all data
Gold No Brainer Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-61.78 319 Oct 1980
Apr 2007
-44.24 43 Jan 1975
Jul 1978
-42.91 107 Sep 2011
Jul 2020
-40.40 40 Nov 2007
Feb 2011
-33.61 37 Jan 1973
Jan 1976
-25.83 15 Mar 2008
May 2009
-24.46 45 Apr 2000
Dec 2003
-24.27 5 Feb 1980
Jun 1980
-20.49 7 Jul 1973
Jan 1974
-20.28 4 Nov 1978
Feb 1979
-19.76 26 Jan 2022
Feb 2024
-19.71 17 Sep 1987
Jan 1989
-18.24 8 Jan 2020
Aug 2020
-18.08 40 Aug 2020
Nov 2023
-17.57 13 Jan 1970
Jan 1971

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)


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
Gold No Brainer Portfolio
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2025
 25.39 -0.06 2.24 -3.94
2024
 26.66 -4.49 10.84 -3.33
2023
 12.69 -7.22 15.77 -8.55
2022
 -0.77 -15.91 -13.89 -19.76
2021
 -4.15 -10.32 15.39 -2.73
2020
 24.81 -10.12 11.61 -18.24
2019
 17.86 -4.10 19.82 -5.15
2018
 -1.94 -11.66 -6.41 -11.92
2017
 12.81 -4.09 15.70 -0.29
2016
 8.03 -15.02 11.03 -4.44
2015
 -10.67 -17.81 -1.35 -7.81
2014
 -2.19 -12.44 3.78 -3.16
2013
 -28.33 -28.33 22.10 -1.89
2012
 6.60 -10.45 12.91 -6.94
2011
 9.57 -14.48 -2.59 -16.20
2010
 29.27 -5.09 14.15 -9.69
2009
 24.03 -7.20 22.80 -15.37
2008
 4.92 -25.83 -26.26 -28.63
2007
 30.45 -4.20 7.14 -4.50
2006
 22.55 -8.63 15.27 -3.41
2005
 17.76 -4.91 7.66 -4.07
2004
 4.65 -8.31 13.66 -3.04
2003
 19.89 -8.88 27.39 -4.14
2002
 25.57 -6.72 -10.88 -16.92
2001
 0.75 -6.10 -4.49 -14.84
2000
 -5.44 -9.93 -4.63 -10.08
1999
 0.85 -11.47 18.99 -3.58
1998
 -0.83 -12.01 12.24 -13.95
1997
 -21.41 -21.41 15.88 -4.06
1996
 -4.59 -8.95 12.52 -4.66
1995
 0.98 -2.46 20.57 -1.62
1994
 -2.17 -3.91 2.49 -4.18
1993
 17.68 -11.51 16.21 -3.68
1992
 -5.73 -6.97 4.40 -3.33
1991
 -8.56 -10.05 24.11 -4.26
1990
 -3.11 -15.14 -9.08 -14.76
1989
 -2.84 -12.30 18.78 -2.53
1988
 -15.26 -18.05 17.83 -3.06
1987
 24.53 -1.97 8.39 -19.71
1986
 18.96 -8.14 25.39 -4.13
1985
 6.00 -6.67 32.35 -2.40
1984
 -19.38 -21.80 4.70 -6.54
1983
 -16.31 -23.52 21.16 -2.72
1982
 14.94 -20.13 17.74 -8.02
1981
 -32.60 -32.60 2.36 -9.62
1980
 15.19 -24.27 24.96 -10.53
1979
 126.55 -4.46 19.11 -7.00
1978
 37.01 -20.28 14.56 -9.37
1977
 22.64 -4.00 6.69 -2.39
1976
 -4.10 -25.85 19.98 -3.10
1975
 -24.80 -25.92 32.96 -10.04
1974
 66.15 -16.62 -16.80 -24.06
1973
 72.96 -20.49 -13.98 -14.44
1972
 49.02 -6.88 17.61 -1.37
1971
 16.70 -3.48 18.87 -5.26
1970
 6.16 -1.56 -0.89 -17.57
Mastering Etf Investing
Mastering ETF Investing
Build wealth
with Lazy Portfolios and Passive Investing
Buy now
English book
Buy now
Italian book