Aleks Bleck Northern Finance Portfolio vs Davide Pisicchio Pepperoni Portfolio Portfolio Comparison

Simulation Settings
Period: January 1994 - April 2025 (~31 years)
Consolidated Returns as of 30 April 2025
Rebalancing: at every Jan 1st
Currency: EUR
Inflation: Eurozone
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Results
30 Years
All (since January 1994)
Inflation Adjusted:
Aleks Bleck Northern Finance Portfolio
1.00€
Initial Capital
May 1995
11.38€
Final Capital
April 2025
8.44%
Yearly Return
14.83%
Std Deviation
-47.98%
Max Drawdown
57months
Recovery Period
1.00€
Initial Capital
May 1995
6.23€
Final Capital
April 2025
6.29%
Yearly Return
14.83%
Std Deviation
-49.24%
Max Drawdown
70months
Recovery Period
1.00€
Initial Capital
January 1994
9.91€
Final Capital
April 2025
7.60%
Yearly Return
14.74%
Std Deviation
-47.98%
Max Drawdown
57months
Recovery Period
1.00€
Initial Capital
January 1994
5.21€
Final Capital
April 2025
5.41%
Yearly Return
14.74%
Std Deviation
-49.24%
Max Drawdown
70months
Recovery Period
Davide Pisicchio Pepperoni Portfolio
1.00€
Initial Capital
May 1995
13.38€
Final Capital
April 2025
9.03%
Yearly Return
10.44%
Std Deviation
-33.30%
Max Drawdown
122months
Recovery Period
1.00€
Initial Capital
May 1995
7.32€
Final Capital
April 2025
6.86%
Yearly Return
10.44%
Std Deviation
-40.32%
Max Drawdown
153months
Recovery Period
1.00€
Initial Capital
January 1994
13.07€
Final Capital
April 2025
8.55%
Yearly Return
10.37%
Std Deviation
-33.30%
Max Drawdown
122months
Recovery Period
1.00€
Initial Capital
January 1994
6.88€
Final Capital
April 2025
6.35%
Yearly Return
10.37%
Std Deviation
-40.32%
Max Drawdown
153months
Recovery Period

As of April 2025, in the previous 30 Years, the Aleks Bleck Northern Finance Portfolio obtained a 8.44% compound annual return, with a 14.83% standard deviation. It suffered a maximum drawdown of -47.98% that required 57 months to be recovered.

As of April 2025, in the previous 30 Years, the Davide Pisicchio Pepperoni Portfolio obtained a 9.03% compound annual return, with a 10.44% standard deviation. It suffered a maximum drawdown of -33.30% that required 122 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.

Aleks Bleck Northern Finance Portfolio
Weight
(%)		 Ticker Name
50.00
IUSQ.DE
iShares MSCI ACWI
20.00
IS3N.DE
iShares Core MSCI Emerg. Markets
15.00
ZPRV.DE
SPDR MSCI USA Small Cap Value Weighted
10.00
SPY2.DE
SPDR Dow Jones Global Real Estate
5.00
SYBA.DE
SPDR Bloomberg Euro Aggregate Bond
Davide Pisicchio Pepperoni Portfolio
Weight
(%)		 Ticker Name
50.00
XD9U.DE
Xtrackers MSCI USA
10.00
SXRV.DE
iShares Nasdaq 100
30.00
CBUE.DE
iShares USD Treasury Bond 3-7yr Eur Hedged
5.00
PR1H.DE
Amundi US Treasury Bond 0-1Y EUR Hedged
5.00
ZPRC.DE
SPDR Refinitiv Global Convertible Bond
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Portfolio Returns as of Apr 30, 2025

Returns are calculated in EUR, assuming:
  • no fees or capital gain taxes.
  • rebalancing: at every Jan 1st.
  • dividend reinvestment, when applicable.
RETURN COMPARISON
Period: 1 January 1994 - 30 April 2025 (~31 years)
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Return (%) as of Apr 30, 2025
YTD
(4M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~31Y)
//www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_aleks_bleck.webp Northern Finance
Aleks Bleck 		-8.95 -4.57 -5.92 2.14 10.35 6.28 8.44 7.60
//www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_davide_pisicchio.webp Pepperoni Portfolio
Davide Pisicchio 		-8.27 -2.59 -3.34 5.00 8.86 7.88 9.03 8.55
Return over 1 year are annualized.
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Capital Growth as of Apr 30, 2025

Aleks Bleck Northern Finance Portfolio: an investment of 1€, since May 1995, now would be worth 11.38€, with a total return of 1038.07% (8.44% annualized).

Davide Pisicchio Pepperoni Portfolio: an investment of 1€, since May 1995, now would be worth 13.38€, with a total return of 1237.50% (9.03% annualized).


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Aleks Bleck Northern Finance Portfolio: an investment of 1€, since January 1994, now would be worth 9.91€, with a total return of 891.20% (7.60% annualized).

Davide Pisicchio Pepperoni Portfolio: an investment of 1€, since January 1994, now would be worth 13.07€, with a total return of 1207.37% (8.55% 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 1994 - 30 April 2025 (~31 years)
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Northern Finance Pepperoni Portfolio
Author Aleks Bleck Davide Pisicchio
ASSET ALLOCATION
Stocks 95% 60%
Fixed Income 5% 40%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 2.14 5.00
Infl. Adjusted Return (%) 0.54 3.36
DRAWDOWN
Deepest Drawdown Depth (%) -12.23 -10.70
Start to Recovery (months) 3* 3*
Longest Drawdown Depth (%) -12.23 -10.70
Start to Recovery (months) 3* 3*
Longest Negative Period (months) 10* 10*
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 12.00 10.93
Sharpe Ratio -0.22 0.02
Sortino Ratio -0.30 0.03
Ulcer Index 4.16 3.84
Ratio: Return / Standard Deviation 0.18 0.46
Ratio: Return / Deepest Drawdown 0.17 0.47
Metrics calculated over the period 1 May 2024 - 30 April 2025
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Northern Finance Pepperoni Portfolio
Author Aleks Bleck Davide Pisicchio
ASSET ALLOCATION
Stocks 95% 60%
Fixed Income 5% 40%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 10.35 8.86
Infl. Adjusted Return (%) 6.14 4.71
DRAWDOWN
Deepest Drawdown Depth (%) -13.13 -14.65
Start to Recovery (months) 25 24
Longest Drawdown Depth (%) -13.13 -14.65
Start to Recovery (months) 25 24
Longest Negative Period (months) 30 26
RISK INDICATORS
Standard Deviation (%) 12.09 9.85
Sharpe Ratio 0.65 0.64
Sortino Ratio 0.90 0.88
Ulcer Index 5.45 5.68
Ratio: Return / Standard Deviation 0.86 0.90
Ratio: Return / Deepest Drawdown 0.79 0.61
Metrics calculated over the period 1 May 2020 - 30 April 2025
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Northern Finance Pepperoni Portfolio
Author Aleks Bleck Davide Pisicchio
ASSET ALLOCATION
Stocks 95% 60%
Fixed Income 5% 40%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 6.28 7.88
Infl. Adjusted Return (%) 3.73 5.29
DRAWDOWN
Deepest Drawdown Depth (%) -22.64 -14.65
Start to Recovery (months) 12 24
Longest Drawdown Depth (%) -13.13 -14.65
Start to Recovery (months) 25 24
Longest Negative Period (months) 39 26
RISK INDICATORS
Standard Deviation (%) 13.23 9.62
Sharpe Ratio 0.34 0.64
Sortino Ratio 0.45 0.88
Ulcer Index 6.31 4.52
Ratio: Return / Standard Deviation 0.47 0.82
Ratio: Return / Deepest Drawdown 0.28 0.54
Metrics calculated over the period 1 May 2015 - 30 April 2025
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Northern Finance Pepperoni Portfolio
Author Aleks Bleck Davide Pisicchio
ASSET ALLOCATION
Stocks 95% 60%
Fixed Income 5% 40%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 8.44 9.03
Infl. Adjusted Return (%) 6.29 6.86
DRAWDOWN
Deepest Drawdown Depth (%) -47.98 -33.30
Start to Recovery (months) 57 122
Longest Drawdown Depth (%) -38.94 -33.30
Start to Recovery (months) 59 122
Longest Negative Period (months) 118 132
RISK INDICATORS
Standard Deviation (%) 14.83 10.44
Sharpe Ratio 0.42 0.65
Sortino Ratio 0.55 0.88
Ulcer Index 12.90 11.32
Ratio: Return / Standard Deviation 0.57 0.86
Ratio: Return / Deepest Drawdown 0.18 0.27
Metrics calculated over the period 1 May 1995 - 30 April 2025
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Northern Finance Pepperoni Portfolio
Author Aleks Bleck Davide Pisicchio
ASSET ALLOCATION
Stocks 95% 60%
Fixed Income 5% 40%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 7.60 8.55
Infl. Adjusted Return (%) 5.41 6.35
DRAWDOWN
Deepest Drawdown Depth (%) -47.98 -33.30
Start to Recovery (months) 57 122
Longest Drawdown Depth (%) -38.94 -33.30
Start to Recovery (months) 59 122
Longest Negative Period (months) 118 132
RISK INDICATORS
Standard Deviation (%) 14.74 10.37
Sharpe Ratio 0.35 0.60
Sortino Ratio 0.47 0.82
Ulcer Index 12.95 11.19
Ratio: Return / Standard Deviation 0.52 0.82
Ratio: Return / Deepest Drawdown 0.16 0.26
Metrics calculated over the period 1 January 1994 - 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 1994 - 30 April 2025 (~31 years)

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Northern Finance Pepperoni Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-47.98 57 Nov 2007
Jul 2012
-38.94 59 Sep 2000
Jul 2005
-33.30 122 Sep 2000
Oct 2010
-25.25 13 Apr 1998
Apr 1999
-22.64 12 Jan 2020
Dec 2020
-14.65 24 Jan 2022
Dec 2023
-14.58 20 Apr 2015
Nov 2016
-13.13 25 Jan 2022
Jan 2024
-12.67 8 Aug 1997
Mar 1998
-12.23 3* Feb 2025
In progress
-11.98 6 Jul 1998
Dec 1998
-10.84 7 Sep 2018
Mar 2019
-10.70 3* Feb 2025
In progress
-9.34 5 Feb 2020
Jun 2020
-8.19 6 Oct 2018
Mar 2019

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Northern Finance Pepperoni Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-47.98 57 Nov 2007
Jul 2012
-38.94 59 Sep 2000
Jul 2005
-33.30 122 Sep 2000
Oct 2010
-25.25 13 Apr 1998
Apr 1999
-22.64 12 Jan 2020
Dec 2020
-18.52 24 Feb 1994
Jan 1996
-14.65 24 Jan 2022
Dec 2023
-14.58 20 Apr 2015
Nov 2016
-13.13 25 Jan 2022
Jan 2024
-12.67 8 Aug 1997
Mar 1998
-12.23 3* Feb 2025
In progress
-11.98 6 Jul 1998
Dec 1998
-10.86 16 Feb 1994
May 1995
-10.84 7 Sep 2018
Mar 2019
-10.70 3* Feb 2025
In progress

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 1994 - 30 April 2025 (~31 years)


Head To Head (Ptf 1 vs Ptf 2):
Eurozone 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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Northern Finance Pepperoni Portfolio
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2025
 -8.95 -12.23 -8.27 -10.70
2024
 18.07 -2.52 20.58 -1.95
2023
 14.24 -7.38 17.50 -3.99
2022
 -13.13 -13.13 -14.65 -14.65
2021
 27.09 -1.42 22.27 -1.84
2020
 1.91 -22.64 11.07 -9.34
2019
 26.36 -5.15 23.19 -3.21
2018
 -7.04 -10.84 -0.68 -8.19
2017
 7.53 -3.54 4.81 -2.97
2016
 13.68 -6.31 8.71 -3.91
2015
 4.52 -14.58 9.21 -6.71
2014
 18.35 -2.40 19.87 -0.50
2013
 12.53 -3.73 17.39 -1.65
2012
 14.97 -3.30 9.69 -2.21
2011
 -5.51 -16.52 5.32 -5.61
2010
 23.27 -4.72 16.29 -2.82
2009
 34.21 -11.24 19.63 -5.56
2008
 -37.14 -37.14 -17.87 -17.87
2007
 1.03 -6.76 1.16 -3.52
2006
 11.63 -7.89 2.11 -5.64
2005
 30.63 -2.70 13.57 -1.50
2004
 12.43 -2.34 3.89 -2.07
2003
 17.37 -6.41 8.28 -3.78
2002
 -24.73 -30.55 -16.91 -19.92
2001
 -0.43 -21.21 -3.36 -14.80
2000
 1.34 -12.95 -2.00 -14.10
1999
 44.94 -8.10 36.81 -4.79
1998
 -0.56 -25.25 18.78 -11.98
1997
 27.28 -12.67 32.13 -5.84
1996
 16.89 -7.91 17.44 -5.75
1995
 11.23 -6.19 25.51 -0.89
1994
 -9.82 -13.88 -6.61 -10.86
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