As of June 2026, in the previous 30 Years, the Paul Boyer Portfolio obtained a 6.85% compound annual return, with a 7.73% standard deviation. It suffered a maximum drawdown of -18.04% that required 39 months to be recovered.

As of June 2026, in the previous 30 Years, the Harry Browne Permanent Portfolio obtained a 7.02% compound annual return, with a 6.85% standard deviation. It suffered a maximum drawdown of -15.92% that required 27 months to be recovered.

Book Cover: Mastering ETF Investing
LazyPortfolioETF.com Logo
Your practical guide to Building Wealth.
Master ETF Investing & maximize profits with Lazy Portfolios & Passive Strategies.
English Book Italian Book
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.

Table of contents

Asset Allocations and ETFs

The compared portfolios have the following asset allocations.

Paul Boyer
Paul Boyer Portfolio
Weight
(%)		 Ticker Name
12.50
EEM
iShares MSCI Emerging Markets
12.50
IJR
iShares Core S&P Small-Cap
25.00
SHY
iShares 1-3 Year Treasury Bond
25.00
TLT
iShares 20+ Year Treasury Bond
25.00
GLD
SPDR Gold Trust
Harry Browne
Harry Browne Permanent Portfolio
Weight
(%)		 Ticker Name
25.00
VTI
Vanguard Total Stock Market
25.00
BIL
SPDR Blmbg Barclays 1-3 Mth T-Bill
25.00
TLT
iShares 20+ Year Treasury Bond
25.00
GLD
SPDR Gold Trust

Portfolio Returns as of Jun 30, 2026

Return Comparison
Capital Growth
Inflation Adj:
Swipe left to see all data
Swipe left to see all data
Swipe left to see all data
Return (%) as of Jun 30, 2026
YTD
(6M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~51Y)
https://www.lazyportfolioetf.com/wp-content/lzp-assets/img/author/avatar_paul_boyer.webp Paul Boyer Portfolio
Paul Boyer 		4.85 -1.57 4.85 18.12 5.41 5.81 6.85 8.58
https://www.lazyportfolioetf.com/wp-content/lzp-assets/img/author/avatar_harry_browne.webp Permanent Portfolio
Harry Browne 		1.69 -2.70 1.69 13.99 7.18 7.04 7.02 8.28
Returns over 1 year are annualized.

Portfolio Metrics as of Jun 30, 2026

The following metrics, updated as of 30 June 2026, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON
1Y
5Y
10Y
30Y
MAX
Period: ()
Swipe left to see all data
Paul Boyer Portfolio Permanent Portfolio
Author Paul Boyer Harry Browne
ASSET ALLOCATION
Stocks 25% 25%
Fixed Income 50% 50%
Commodities 25% 25%
PERFORMANCES
Annualized Return (%) 18.12 13.99
Infl. Adjusted (%) 13.71 9.73
DRAWDOWN
Deepest Drawdown Depth (%) -5.89 -5.30
Start to Recovery (months) 4* 4*
Longest Drawdown Depth (%) -5.89 -5.30
Start to Recovery (months) 4* 4*
Longest Negative Period (months) 4* 5*
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 10.35 9.39
Sharpe Ratio 1.38 1.08
Sortino Ratio 1.75 1.34
Ulcer Index 2.41 2.34
Ratio: Return / Standard Deviation 1.75 1.49
Ratio: Return / Deepest Drawdown 3.08 2.64
Metrics calculated over the period 1 July 2025 - 30 June 2026
Swipe left to see all data
Paul Boyer Portfolio Permanent Portfolio
Author Paul Boyer Harry Browne
ASSET ALLOCATION
Stocks 25% 25%
Fixed Income 50% 50%
Commodities 25% 25%
PERFORMANCES
Annualized Return (%) 5.41 7.18
Infl. Adjusted (%) 1.07 2.76
DRAWDOWN
Deepest Drawdown Depth (%) -18.00 -15.92
Start to Recovery (months) 36 27
Longest Drawdown Depth (%) -18.00 -15.92
Start to Recovery (months) 36 27
Longest Negative Period (months) 36 30
RISK INDICATORS
Standard Deviation (%) 9.55 8.80
Sharpe Ratio 0.20 0.42
Sortino Ratio 0.28 0.56
Ulcer Index 7.44 5.92
Ratio: Return / Standard Deviation 0.57 0.82
Ratio: Return / Deepest Drawdown 0.30 0.45
Metrics calculated over the period 1 July 2021 - 30 June 2026
Swipe left to see all data
Paul Boyer Portfolio Permanent Portfolio
Author Paul Boyer Harry Browne
ASSET ALLOCATION
Stocks 25% 25%
Fixed Income 50% 50%
Commodities 25% 25%
PERFORMANCES
Annualized Return (%) 5.81 7.04
Infl. Adjusted (%) 2.38 3.57
DRAWDOWN
Deepest Drawdown Depth (%) -18.04 -15.92
Start to Recovery (months) 39 27
Longest Drawdown Depth (%) -18.04 -15.92
Start to Recovery (months) 39 27
Longest Negative Period (months) 50 40
RISK INDICATORS
Standard Deviation (%) 8.06 7.59
Sharpe Ratio 0.45 0.64
Sortino Ratio 0.63 0.88
Ulcer Index 5.57 4.49
Ratio: Return / Standard Deviation 0.72 0.93
Ratio: Return / Deepest Drawdown 0.32 0.44
Metrics calculated over the period 1 July 2016 - 30 June 2026
Swipe left to see all data
Paul Boyer Portfolio Permanent Portfolio
Author Paul Boyer Harry Browne
ASSET ALLOCATION
Stocks 25% 25%
Fixed Income 50% 50%
Commodities 25% 25%
PERFORMANCES
Annualized Return (%) 6.85 7.02
Infl. Adjusted (%) 4.18 4.36
DRAWDOWN
Deepest Drawdown Depth (%) -18.04 -15.92
Start to Recovery (months) 39 27
Longest Drawdown Depth (%) -18.04 -15.92
Start to Recovery (months) 39 27
Longest Negative Period (months) 50 40
RISK INDICATORS
Standard Deviation (%) 7.73 6.85
Sharpe Ratio 0.60 0.70
Sortino Ratio 0.84 0.97
Ulcer Index 4.00 3.23
Ratio: Return / Standard Deviation 0.89 1.03
Ratio: Return / Deepest Drawdown 0.38 0.44
Metrics calculated over the period 1 July 1996 - 30 June 2026
Swipe left to see all data
Paul Boyer Portfolio Permanent Portfolio
Author Paul Boyer Harry Browne
ASSET ALLOCATION
Stocks 25% 25%
Fixed Income 50% 50%
Commodities 25% 25%
PERFORMANCES
Annualized Return (%) 8.58 8.28
Infl. Adjusted (%) 4.79 4.50
DRAWDOWN
Deepest Drawdown Depth (%) -18.04 -15.92
Start to Recovery (months) 39 27
Longest Drawdown Depth (%) -18.04 -15.92
Start to Recovery (months) 39 27
Longest Negative Period (months) 50 40
RISK INDICATORS
Standard Deviation (%) 8.31 7.28
Sharpe Ratio 0.52 0.56
Sortino Ratio 0.75 0.80
Ulcer Index 3.85 3.06
Ratio: Return / Standard Deviation 1.03 1.14
Ratio: Return / Deepest Drawdown 0.48 0.52
Metrics calculated over the period 1 January 1976 - 30 June 2026
Book Cover: Mastering ETF Investing
LazyPortfolioETF.com Logo
Your practical guide to Building Wealth.
Master ETF Investing & maximize profits with Lazy Portfolios & Passive Strategies.
English Book 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
Inflation Adj:

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

Time to Target

What it shows: Months to reach your target capital from each historical entry point, accounting for your initial investment and periodic contributions.

Time to Target Comparison
Time to reach your Target Capital

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
Paul Boyer Portfolio Permanent Portfolio
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2026
 4.85 -5.89 1.69 -5.30
2025
 23.20 -0.28 22.29 0.00
2024
 7.52 -3.36 11.90 -2.51
2023
 7.92 -7.34 11.55 -5.68
2022
 -13.57 -17.86 -12.53 -15.92
2021
 0.51 -3.38 4.21 -4.43
2020
 15.04 -3.07 16.10 -3.30
2019
 13.97 -1.05 16.17 -1.10
2018
 -3.50 -6.72 -1.76 -4.25
2017
 11.87 -0.61 10.97 -0.83
2016
 7.19 -6.74 5.54 -6.98
2015
 -5.29 -9.15 -3.06 -6.73
2014
 6.63 -3.72 9.40 -2.62
2013
 -5.67 -8.07 -2.08 -6.04
2012
 6.80 -2.93 6.41 -1.83
2011
 8.99 -2.80 11.11 -1.85
2010
 15.54 -0.81 13.92 -0.53
2009
 12.50 -6.62 7.85 -6.22
2008
 1.32 -13.66 0.87 -12.63
2007
 16.13 -0.86 12.69 -1.20
2006
 12.57 -3.53 10.94 -2.12
2005
 11.99 -2.10 8.91 -1.25
2004
 9.39 -5.64 6.83 -4.20
2003
 17.95 -2.85 13.32 -2.34
2002
 9.85 -4.44 5.85 -4.02
2001
 3.66 -3.75 -0.52 -4.13
2000
 2.00 -4.97 2.40 -3.23
1999
 9.10 -3.56 5.17 -3.54
1998
 2.30 -9.22 10.09 -5.34
1997
 0.72 -4.04 7.19 -2.33
1996
 3.88 -3.10 5.08 -2.02
1995
 14.46 -0.96 18.11 0.00
1994
 -5.01 -6.22 -1.37 -3.63
1993
 25.08 -1.38 12.00 -0.99
1992
 3.02 -1.92 3.57 -1.77
1991
 24.71 -1.74 11.72 -0.88
1990
 0.64 -5.76 1.11 -4.53
1989
 21.34 -0.54 12.90 -1.18
1988
 7.47 -2.31 4.39 -1.50
1987
 -0.04 -7.71 7.42 -5.78
1986
 17.71 -1.63 17.64 -1.28
1985
 21.84 -2.32 20.47 -2.05
1984
 4.29 -3.80 2.22 -3.58
1983
 3.33 -3.72 3.46 -2.83
1982
 20.74 -7.63 23.27 -5.51
1981
 -6.40 -12.16 -5.34 -9.88
1980
 10.07 -13.60 13.65 -11.38
1979
 40.68 -5.53 39.77 -4.50
1978
 13.69 -5.99 12.78 -5.31
1977
 9.52 -1.78 6.43 -2.00
1976
 11.89 -4.01 11.22 -2.75
Book Cover: Mastering ETF Investing
LazyPortfolioETF.com Logo
Your practical guide to Building Wealth.
Master ETF Investing & maximize profits with Lazy Portfolios & Passive Strategies.
English Book Italian Book