Paul Boyer vs Harry Browne Permanent Portfolio Comparison

Period: January 1976 - September 2024 (~49 years)
Consolidated Returns as of 30 September 2024
Rebalancing: at every Jan 1st
Currency: USD
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Paul Boyer Portfolio
1.00$
Initial Capital
October 1994
6.62$
Final Capital
September 2024
6.50%
Yearly Return
7.50
Std Deviation
-18.04%
Max Drawdown
39 months
Recovery Period
Harry Browne Permanent Portfolio
1.00$
Initial Capital
October 1994
7.43$
Final Capital
September 2024
6.92%
Yearly Return
6.63
Std Deviation
-15.92%
Max Drawdown
27 months
Recovery Period
Paul Boyer Portfolio
1.00$
Initial Capital
January 1976
51.14$
Final Capital
September 2024
8.41%
Yearly Return
8.29
Std Deviation
-18.04%
Max Drawdown
39 months
Recovery Period
Harry Browne Permanent Portfolio
1.00$
Initial Capital
January 1976
45.22$
Final Capital
September 2024
8.13%
Yearly Return
7.26
Std Deviation
-15.92%
Max Drawdown
27 months
Recovery Period

The Paul Boyer Portfolio obtained a 6.50% compound annual return, with a 7.50% standard deviation, in the last 30 Years.

The Harry Browne Permanent Portfolio obtained a 6.92% compound annual return, with a 6.63% standard deviation, in the last 30 Years.

Returns as of Sep 30, 2024

The portfolios guaranteed the following returns.

RETURN COMPARISON
Period: 1 January 1976 - 30 September 2024 (~49 years)
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Return (%) as of Sep 30, 2024
YTD
(9M)
1M 6M 1Y 5Y 10Y 30Y MAX
(~49Y)
Paul Boyer Portfolio
Paul Boyer
11.26 2.90 9.49 21.85 4.14 4.41 6.50 8.41
Permanent Portfolio
Harry Browne
13.39 2.48 9.25 24.07 6.41 6.01 6.92 8.13
Return over 1 year are annualized.

Capital Growth as of Sep 30, 2024

Paul Boyer Portfolio: an investment of 1$, since October 1994, now would be worth 6.62$, with a total return of 562.05% (6.50% annualized).

Harry Browne Permanent Portfolio: an investment of 1$, since October 1994, now would be worth 7.43$, with a total return of 643.46% (6.92% annualized).


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Paul Boyer Portfolio: an investment of 1$, since January 1976, now would be worth 51.14$, with a total return of 5013.82% (8.41% annualized).

Harry Browne Permanent Portfolio: an investment of 1$, since January 1976, now would be worth 45.22$, with a total return of 4422.18% (8.13% annualized).


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Metrics as of Sep 30, 2024

The following metrics, updated as of 30 September 2024, provide an overview of performance and risk.

METRIC COMPARISON
Period: 1 October 2023 - 30 September 2024 (1 year)
Period: 1 October 2019 - 30 September 2024 (5 years)
Period: 1 October 2014 - 30 September 2024 (10 years)
Period: 1 October 1994 - 30 September 2024 (30 years)
Period: 1 January 1976 - 30 September 2024 (~49 years)
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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 (%) 21.85 24.07
Infl. Adjusted Return (%) 19.20 21.37
DRAWDOWN
Deepest Drawdown Depth (%) -1.89 -1.77
Start to Recovery (months) 3 2
Longest Drawdown Depth (%) -1.89 -0.01
Start to Recovery (months) 3 2
Longest Negative Period (months) 2 1
RISK INDICATORS
Standard Deviation (%) 7.83 6.60
Sharpe Ratio 2.11 2.83
Sortino Ratio 2.95 3.91
Ulcer Index 0.82 0.51
Ratio: Return / Standard Deviation 2.79 3.65
Ratio: Return / Deepest Drawdown 11.54 13.62
Metrics calculated over the period 1 October 2023 - 30 September 2024
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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 (%) 4.14 6.41
Infl. Adjusted Return (%) 0.00 2.18
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) 48 40
RISK INDICATORS
Standard Deviation (%) 8.92 8.58
Sharpe Ratio 0.22 0.49
Sortino Ratio 0.32 0.69
Ulcer Index 7.42 5.90
Ratio: Return / Standard Deviation 0.46 0.75
Ratio: Return / Deepest Drawdown 0.23 0.40
Metrics calculated over the period 1 October 2019 - 30 September 2024
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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 (%) 4.41 6.01
Infl. Adjusted Return (%) 1.53 3.08
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 (%) 7.70 7.31
Sharpe Ratio 0.38 0.62
Sortino Ratio 0.56 0.89
Ulcer Index 5.85 4.69
Ratio: Return / Standard Deviation 0.57 0.82
Ratio: Return / Deepest Drawdown 0.24 0.38
Metrics calculated over the period 1 October 2014 - 30 September 2024
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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 (%) 6.50 6.92
Infl. Adjusted Return (%) 3.90 4.30
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 (%) 7.50 6.63
Sharpe Ratio 0.56 0.70
Sortino Ratio 0.79 0.97
Ulcer Index 3.99 3.20
Ratio: Return / Standard Deviation 0.87 1.04
Ratio: Return / Deepest Drawdown 0.36 0.43
Metrics calculated over the period 1 October 1994 - 30 September 2024
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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 (%) 8.41 8.13
Infl. Adjusted Return (%) 4.62 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 (%) 8.29 7.26
Sharpe Ratio 0.50 0.54
Sortino Ratio 0.72 0.78
Ulcer Index 3.90 3.09
Ratio: Return / Standard Deviation 1.01 1.12
Ratio: Return / Deepest Drawdown 0.47 0.51
Metrics calculated over the period 1 January 1976 - 30 September 2024

Drawdowns

DRAWDOWN COMPARISON
Period: 1 October 1994 - 30 September 2024 (30 years)
Period: 1 January 1976 - 30 September 2024 (~49 years)

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Paul Boyer Portfolio Permanent Portfolio
Drawdown
(%)
Recovery
(#Months)
From
To
Drawdown
(%)
Recovery
(#Months)
From
To
-18.04 39 Jun 2021
Aug 2024
-15.92 27 Jan 2022
Mar 2024
-13.66 17 Mar 2008
Jul 2009
-12.63 18 Mar 2008
Aug 2009
-9.22 12 May 1998
Apr 1999
-9.15 17 Feb 2015
Jun 2016
-8.62 21 Oct 2012
Jun 2014
-6.98 13 Aug 2016
Aug 2017
-6.86 17 Oct 2012
Feb 2014
-6.74 12 Aug 2016
Jul 2017
-6.73 15 Feb 2015
Apr 2016
-6.72 17 Feb 2018
Jun 2019
-5.64 7 Apr 2004
Oct 2004
-5.43 19 Sep 2000
Mar 2002
-5.34 4 Jul 1998
Oct 1998

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Paul Boyer Portfolio Permanent Portfolio
Drawdown
(%)
Recovery
(#Months)
From
To
Drawdown
(%)
Recovery
(#Months)
From
To
-18.04 39 Jun 2021
Aug 2024
-15.92 27 Jan 2022
Mar 2024
-14.53 25 Oct 1980
Oct 1982
-13.66 17 Mar 2008
Jul 2009
-13.60 5 Feb 1980
Jun 1980
-12.63 18 Mar 2008
Aug 2009
-11.68 21 Dec 1980
Aug 1982
-11.38 5 Feb 1980
Jun 1980
-9.22 12 May 1998
Apr 1999
-9.15 17 Feb 2015
Jun 2016
-8.62 21 Oct 2012
Jun 2014
-7.71 16 Mar 1987
Jun 1988
-6.98 13 Aug 2016
Aug 2017
-6.93 16 Feb 1994
May 1995
-6.86 17 Oct 2012
Feb 2014

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
Rolling Returns Chart
Rolling Returns Chart - Inflation Adjusted
Time Period: 1 January 1976 - 30 September 2024 (~49 years)


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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Paul Boyer Portfolio Permanent Portfolio
Year Return Drawdown Return Drawdown
2024
11.26% -1.89% 13.39% -1.77%
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%