JP Morgan Balanced Portfolio vs Bill Bernstein Sheltered Sam 60/40 Portfolio Portfolio Comparison

Simulation Settings

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

Initial Amount: 1$

Rebalancing: at every Jan 1^st

Currency: USD

Inflation: US

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Results

30 Years
(1996/06 - 2026/05)

All Data
(1985/01 - 2026/05)

Inflation Adjusted:

JP Morgan Balanced Portfolio

1.00$
Invested Capital
June 1996
8.73$
Final Capital
May 2026
7.49%
Yearly Return
10.17%
Std Deviation
-36.69%
Max Drawdown
38months
Recovery Period

1.00$
Invested Capital
June 1996
4.10$
Final Capital
May 2026
4.82%
Yearly Return
10.17%
Std Deviation
-37.73%
Max Drawdown
42months
Recovery Period

1.00$
Invested Capital
January 1985
39.38$
Final Capital
May 2026
9.27%
Yearly Return
9.92%
Std Deviation
-36.69%
Max Drawdown
38months
Recovery Period

1.00$
Invested Capital
January 1985
12.50$
Final Capital
May 2026
6.29%
Yearly Return
9.92%
Std Deviation
-37.73%
Max Drawdown
42months
Recovery Period

Bill Bernstein Sheltered Sam 60/40 Portfolio

1.00$
Invested Capital
June 1996
8.79$
Final Capital
May 2026
7.51%
Yearly Return
9.34%
Std Deviation
-34.12%
Max Drawdown
38months
Recovery Period

1.00$
Invested Capital
June 1996
4.13$
Final Capital
May 2026
4.84%
Yearly Return
9.34%
Std Deviation
-35.21%
Max Drawdown
42months
Recovery Period

1.00$
Invested Capital
January 1985
38.70$
Final Capital
May 2026
9.23%
Yearly Return
9.23%
Std Deviation
-34.12%
Max Drawdown
38months
Recovery Period

1.00$
Invested Capital
January 1985
12.28$
Final Capital
May 2026
6.24%
Yearly Return
9.23%
Std Deviation
-35.21%
Max Drawdown
42months
Recovery Period

As of May 2026, in the previous 30 Years, the JP Morgan Balanced Portfolio obtained a 7.49% compound annual return, with a 10.17% standard deviation. It suffered a maximum drawdown of -36.69% that required 38 months to be recovered.

As of May 2026, in the previous 30 Years, the Bill Bernstein Sheltered Sam 60/40 Portfolio obtained a 7.51% compound annual return, with a 9.34% standard deviation. It suffered a maximum drawdown of -34.12% that required 38 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.

JP Morgan Balanced Portfolio

Weight (%)	Ticker	Name
25.00	SPY	SPDR S&P 500
15.00	EFA	iShares MSCI EAFE
10.00	IJR	iShares Core S&P Small-Cap
5.00	EEM	iShares MSCI Emerging Markets
5.00	VNQ	Vanguard Real Estate
25.00	BND	Vanguard Total Bond Market
5.00	BIL	SPDR Blmbg Barclays 1-3 Mth T-Bill
5.00	HYG	iShares iBoxx $ High Yield Corporate Bond
5.00	DBC	Invesco DB Commodity Tracking

Bill Bernstein Sheltered Sam 60/40 Portfolio

Weight (%)	Ticker	Name
15.00	VTV	Vanguard Value
12.00	VV	Vanguard Large-Cap
9.00	IJS	iShares S&P Small-Cap 600 Value
6.00	VNQ	Vanguard Real Estate
4.20	EFV	iShares MSCI EAFE Value
3.00	EEM	iShares MSCI Emerging Markets
3.00	IJR	iShares Core S&P Small-Cap
3.00	VGK	Vanguard FTSE Europe
3.00	VPL	Vanguard FTSE Pacific
24.00	SHY	iShares 1-3 Year Treasury Bond
16.00	TIP	iShares TIPS Bond
1.80	GLTR	Aberdeen Standard Physical Precious Metals Basket Shares

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Portfolio Returns as of May 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
(1996/06 - 2026/05)

All Data
(1985/01 - 2026/05)

Inflation Adjusted:

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
JP Morgan Balanced Portfolio JP Morgan	1 $	8.73 $	772.59%	7.49%
Sheltered Sam 60/40 Bill Bernstein	1 $	8.79 $	778.78%	7.51%
	Jun 1996	May 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
JP Morgan Balanced Portfolio JP Morgan	1 $	4.10 $	310.46%	4.82%
Sheltered Sam 60/40 Bill Bernstein	1 $	4.13 $	313.37%	4.84%
	Jun 1996	May 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
JP Morgan Balanced Portfolio JP Morgan	1 $	39.38 $	3 838.06%	9.27%
Sheltered Sam 60/40 Bill Bernstein	1 $	38.70 $	3 770.10%	9.23%
	Jan 1985	May 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
JP Morgan Balanced Portfolio JP Morgan	1 $	12.50 $	1 149.55%	6.29%
Sheltered Sam 60/40 Bill Bernstein	1 $	12.28 $	1 127.99%	6.24%
	Jan 1985	May 2026

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		Return (%) as of May 31, 2026
		YTD (5M)	1M	6M	1Y	5Y	10Y	30Y	MAX (~41Y)
	JP Morgan Balanced Portfolio JP Morgan	9.33	1.90	9.85	21.15	7.30	8.66	7.49	9.27
	Sheltered Sam 60/40 Bill Bernstein	8.15	1.79	9.00	20.00	6.68	7.99	7.51	9.23
Returns over 1 year are annualized.

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Portfolio Metrics as of May 31, 2026

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

METRIC COMPARISON

Period: 1 June 2025 - 31 May 2026 (1 year)

Period: 1 June 2021 - 31 May 2026 (5 years)

Period: 1 June 2016 - 31 May 2026 (10 years)

Period: 1 June 1996 - 31 May 2026 (30 years)

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

1 Year

5 Years

10 Years

30 Years

All (1985/01 - 2026/05)

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	JP Morgan Balanced Portfolio	Sheltered Sam 60/40
Author	JP Morgan	Bill Bernstein
ASSET ALLOCATION
Stocks	60%	58.2%
Fixed Income	35%	40%
Commodities	5%	1.8%
PERFORMANCES
Annualized Return (%)	21.15	20.00
Infl. Adjusted (%)	16.84	15.73
DRAWDOWN
Deepest Drawdown Depth (%)	-3.29	-3.96
Start to Recovery (months)	2	2
Longest Drawdown Depth (%)	-3.29	-3.96
Start to Recovery (months)	2	2
Longest Negative Period (months)	2	2
RISK INDICATORS
Standard Deviation (%)	7.23	7.16
Sharpe Ratio	2.39	2.25
Sortino Ratio	3.24	2.79
Ulcer Index	0.91	1.10
Ratio: Return / Standard Deviation	2.93	2.79
Ratio: Return / Deepest Drawdown	6.42	5.05
Metrics calculated over the period 1 June 2025 - 31 May 2026

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	JP Morgan Balanced Portfolio	Sheltered Sam 60/40
Author	JP Morgan	Bill Bernstein
ASSET ALLOCATION
Stocks	60%	58.2%
Fixed Income	35%	40%
Commodities	5%	1.8%
PERFORMANCES
Annualized Return (%)	7.30	6.68
Infl. Adjusted (%)	2.81	2.21
DRAWDOWN
Deepest Drawdown Depth (%)	-18.85	-16.48
Start to Recovery (months)	27	27
Longest Drawdown Depth (%)	-18.85	-16.48
Start to Recovery (months)	27	27
Longest Negative Period (months)	30	30
RISK INDICATORS
Standard Deviation (%)	10.69	9.83
Sharpe Ratio	0.36	0.33
Sortino Ratio	0.49	0.45
Ulcer Index	6.28	5.27
Ratio: Return / Standard Deviation	0.68	0.68
Ratio: Return / Deepest Drawdown	0.39	0.41
Metrics calculated over the period 1 June 2021 - 31 May 2026

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	JP Morgan Balanced Portfolio	Sheltered Sam 60/40
Author	JP Morgan	Bill Bernstein
ASSET ALLOCATION
Stocks	60%	58.2%
Fixed Income	35%	40%
Commodities	5%	1.8%
PERFORMANCES
Annualized Return (%)	8.66	7.99
Infl. Adjusted (%)	5.15	4.50
DRAWDOWN
Deepest Drawdown Depth (%)	-18.85	-16.48
Start to Recovery (months)	27	27
Longest Drawdown Depth (%)	-18.85	-16.48
Start to Recovery (months)	27	27
Longest Negative Period (months)	32	32
RISK INDICATORS
Standard Deviation (%)	10.22	9.39
Sharpe Ratio	0.63	0.62
Sortino Ratio	0.82	0.81
Ulcer Index	5.04	4.35
Ratio: Return / Standard Deviation	0.85	0.85
Ratio: Return / Deepest Drawdown	0.46	0.48
Metrics calculated over the period 1 June 2016 - 31 May 2026

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	JP Morgan Balanced Portfolio	Sheltered Sam 60/40
Author	JP Morgan	Bill Bernstein
ASSET ALLOCATION
Stocks	60%	58.2%
Fixed Income	35%	40%
Commodities	5%	1.8%
PERFORMANCES
Annualized Return (%)	7.49	7.51
Infl. Adjusted (%)	4.82	4.84
DRAWDOWN
Deepest Drawdown Depth (%)	-36.69	-34.12
Start to Recovery (months)	38	38
Longest Drawdown Depth (%)	-16.55	-34.12
Start to Recovery (months)	38	38
Longest Negative Period (months)	62	62
RISK INDICATORS
Standard Deviation (%)	10.17	9.34
Sharpe Ratio	0.52	0.57
Sortino Ratio	0.67	0.74
Ulcer Index	7.00	5.85
Ratio: Return / Standard Deviation	0.74	0.80
Ratio: Return / Deepest Drawdown	0.20	0.22
Metrics calculated over the period 1 June 1996 - 31 May 2026

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	JP Morgan Balanced Portfolio	Sheltered Sam 60/40
Author	JP Morgan	Bill Bernstein
ASSET ALLOCATION
Stocks	60%	58.2%
Fixed Income	35%	40%
Commodities	5%	1.8%
PERFORMANCES
Annualized Return (%)	9.27	9.23
Infl. Adjusted (%)	6.29	6.24
DRAWDOWN
Deepest Drawdown Depth (%)	-36.69	-34.12
Start to Recovery (months)	38	38
Longest Drawdown Depth (%)	-16.55	-34.12
Start to Recovery (months)	38	38
Longest Negative Period (months)	62	62
RISK INDICATORS
Standard Deviation (%)	9.92	9.23
Sharpe Ratio	0.61	0.66
Sortino Ratio	0.80	0.85
Ulcer Index	6.23	5.29
Ratio: Return / Standard Deviation	0.93	1.00
Ratio: Return / Deepest Drawdown	0.25	0.27
Metrics calculated over the period 1 January 1985 - 31 May 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 June 1996 - 31 May 2026 (30 years)

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

30 Years
(1996/06 - 2026/05)

Chart Table

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JP Morgan Balanced Portfolio			Sheltered Sam 60/40
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
-36.69	38	Nov 2007 Dec 2010
			-34.12	38	Nov 2007 Dec 2010
-18.85	27	Jan 2022 Mar 2024
-16.55	38	Sep 2000 Oct 2003
			-16.48	27	Jan 2022 Mar 2024
-15.47	8	Jan 2020 Aug 2020
			-14.38	11	Jan 2020 Nov 2020
-12.53	10	May 2011 Feb 2012
-11.32	8	May 1998 Dec 1998
			-11.25	10	May 2011 Feb 2012
			-10.89	8	May 1998 Dec 1998
			-10.65	13	Jun 2002 Jun 2003
-9.17	8	Sep 2018 Apr 2019
-8.03	14	Jun 2015 Jul 2016
			-7.95	14	Feb 2001 Mar 2002

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JP Morgan Balanced Portfolio			Sheltered Sam 60/40
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
-36.69	38	Nov 2007 Dec 2010
			-34.12	38	Nov 2007 Dec 2010
-18.85	27	Jan 2022 Mar 2024
-16.55	38	Sep 2000 Oct 2003
-16.53	16	Sep 1987 Dec 1988
			-16.48	27	Jan 2022 Mar 2024
			-16.09	17	Sep 1987 Jan 1989
-15.47	8	Jan 2020 Aug 2020
			-14.38	11	Jan 2020 Nov 2020
-12.53	10	May 2011 Feb 2012
-11.32	8	May 1998 Dec 1998
			-11.25	10	May 2011 Feb 2012
			-10.89	8	May 1998 Dec 1998
			-10.65	13	Jun 2002 Jun 2003
			-9.53	7	Aug 1990 Feb 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 1985 - 31 May 2026 (~41 years)

Rolling Period:

JP Morgan Balanced Portfolio
Sheltered Sam 60/40

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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	JP Morgan Balanced Portfolio		Sheltered Sam 60/40
Year	Return (%)	Drawdown (%)	Return (%)	Drawdown (%)
2026	9.33	-3.29	8.15	-3.96
2025	14.43	-2.36	14.11	-2.05
2024	9.29	-3.04	8.73	-3.39
2023	13.79	-7.82	10.82	-6.95
2022	-13.45	-18.85	-10.58	-16.48
2021	15.19	-2.45	14.69	-2.50
2020	9.26	-15.47	7.21	-14.38
2019	19.35	-3.69	17.21	-3.44
2018	-5.75	-9.17	-5.00	-7.94
2017	14.09	0.00	11.37	0.00
2016	9.08	-3.28	9.92	-2.59
2015	-2.23	-6.99	-1.72	-6.23
2014	4.48	-2.74	6.04	-2.73
2013	14.73	-2.28	14.05	-2.24
2012	11.83	-5.50	11.12	-4.47
2011	0.39	-12.53	1.31	-11.25
2010	12.63	-7.78	12.35	-7.59
2009	21.33	-14.28	18.56	-14.17
2008	-23.48	-27.76	-20.58	-24.12
2007	7.21	-3.48	5.25	-3.35
2006	14.23	-2.60	14.67	-2.30
2005	8.10	-2.61	7.42	-2.17
2004	12.89	-3.67	12.90	-3.90
2003	25.00	-2.24	24.15	-2.61
2002	-4.96	-11.47	-3.47	-10.65
2001	-4.27	-12.04	0.06	-7.95
2000	0.68	-6.20	6.26	-3.25
1999	18.20	-2.61	10.16	-2.69
1998	8.55	-11.32	8.53	-10.89
1997	13.23	-3.04	15.72	-2.73
1996	13.95	-3.00	12.97	-2.50
1995	20.42	-0.74	22.13	-1.03
1994	-0.20	-5.70	-1.78	-6.11
1993	17.70	-3.04	19.41	-2.18
1992	4.54	-2.06	8.86	-1.38
1991	26.11	-3.39	24.84	-2.94
1990	-3.51	-9.52	-3.41	-9.53
1989	22.90	-1.68	21.08	-1.37
1988	17.03	-2.34	14.93	-1.85
1987	4.57	-16.53	3.35	-16.09
1986	21.57	-4.03	21.08	-3.67
1985	29.46	-1.31	28.54	-1.57

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Table of contents

Resources & Extras

Asset Allocations and ETFs

Portfolio Returns as of May 31, 2026

Portfolio Metrics as of May 31, 2026

Drawdowns

Rolling Returns

Yearly Returns