Paul Farrell Second Grader's Starter Portfolio vs David Swensen Yale Endowment Portfolio Portfolio Comparison

Simulation Settings

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

Initial Amount: 1$

Rebalancing: at every Jan 1^st

Currency: USD

Inflation: US

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Results

30 Years
(1996/04 - 2026/03)

All Data
(1985/01 - 2026/03)

Inflation Adjusted:

Paul Farrell Second Grader's Starter Portfolio

1.00$
Invested Capital
April 1996
11.16$
Final Capital
March 2026
8.37%
Yearly Return
13.96%
Std Deviation
-48.52%
Max Drawdown
59months
Recovery Period

1.00$
Invested Capital
April 1996
5.30$
Final Capital
March 2026
5.71%
Yearly Return
13.96%
Std Deviation
-49.37%
Max Drawdown
66months
Recovery Period

1.00$
Invested Capital
January 1985
55.16$
Final Capital
March 2026
10.21%
Yearly Return
13.55%
Std Deviation
-48.52%
Max Drawdown
59months
Recovery Period

1.00$
Invested Capital
January 1985
17.77$
Final Capital
March 2026
7.22%
Yearly Return
13.55%
Std Deviation
-49.37%
Max Drawdown
66months
Recovery Period

David Swensen Yale Endowment Portfolio

1.00$
Invested Capital
April 1996
10.02$
Final Capital
March 2026
7.98%
Yearly Return
10.91%
Std Deviation
-40.68%
Max Drawdown
38months
Recovery Period

1.00$
Invested Capital
April 1996
4.76$
Final Capital
March 2026
5.33%
Yearly Return
10.91%
Std Deviation
-41.66%
Max Drawdown
42months
Recovery Period

1.00$
Invested Capital
January 1985
42.46$
Final Capital
March 2026
9.51%
Yearly Return
10.65%
Std Deviation
-40.68%
Max Drawdown
38months
Recovery Period

1.00$
Invested Capital
January 1985
13.68$
Final Capital
March 2026
6.55%
Yearly Return
10.65%
Std Deviation
-41.66%
Max Drawdown
42months
Recovery Period

As of March 2026, in the previous 30 Years, the Paul Farrell Second Grader's Starter Portfolio obtained a 8.37% compound annual return, with a 13.96% standard deviation. It suffered a maximum drawdown of -48.52% that required 59 months to be recovered.

As of March 2026, in the previous 30 Years, the David Swensen Yale Endowment Portfolio obtained a 7.98% compound annual return, with a 10.91% standard deviation. It suffered a maximum drawdown of -40.68% 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.

Paul Farrell Second Grader's Starter Portfolio

Weight (%)	Ticker	Name
60.00	VTI	Vanguard Total Stock Market
30.00	VEU	Vanguard FTSE All-World ex-US
10.00	BND	Vanguard Total Bond Market

David Swensen Yale Endowment Portfolio

Weight (%)	Ticker	Name
30.00	VTI	Vanguard Total Stock Market
20.00	VNQ	Vanguard Real Estate
15.00	VEA	Vanguard FTSE Developed Markets
5.00	EEM	iShares MSCI Emerging Markets
15.00	IEI	iShares 3-7 Year Treasury Bond
15.00	TIP	iShares TIPS Bond

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Portfolio Returns as of Mar 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
(1996/04 - 2026/03)

All Data
(1985/01 - 2026/03)

Inflation Adjusted:

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Second Grader's Starter Paul Farrell	1 $	11.16 $	1 015.70%	8.37%
Yale Endowment David Swensen	1 $	10.02 $	901.62%	7.98%
	Apr 1996	Mar 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Second Grader's Starter Paul Farrell	1 $	5.30 $	429.67%	5.71%
Yale Endowment David Swensen	1 $	4.76 $	375.51%	5.33%
	Apr 1996	Mar 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Second Grader's Starter Paul Farrell	1 $	55.16 $	5 415.75%	10.21%
Yale Endowment David Swensen	1 $	42.46 $	4 145.75%	9.51%
	Jan 1985	Mar 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
Second Grader's Starter Paul Farrell	1 $	17.77 $	1 676.59%	7.22%
Yale Endowment David Swensen	1 $	13.68 $	1 267.53%	6.55%
	Jan 1985	Mar 2026

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		Return (%) as of Mar 31, 2026
		YTD (3M)	1M	6M	1Y	5Y	10Y	30Y	MAX (~41Y)
	Second Grader's Starter Paul Farrell	-1.73	-5.67	1.31	19.57	9.00	11.19	8.37	10.21
	Yale Endowment David Swensen	-0.29	-5.05	1.40	12.92	5.95	7.63	7.98	9.51
Returns over 1 year are annualized.

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Portfolio Metrics as of Mar 31, 2026

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

METRIC COMPARISON

Period: 1 April 2025 - 31 March 2026 (1 year)

Period: 1 April 2021 - 31 March 2026 (5 years)

Period: 1 April 2016 - 31 March 2026 (10 years)

Period: 1 April 1996 - 31 March 2026 (30 years)

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

1 Year

5 Years

10 Years

30 Years

All (1985/01 - 2026/03)

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	Second Grader's Starter	Yale Endowment
Author	Paul Farrell	David Swensen
ASSET ALLOCATION
Stocks	90%	70%
Fixed Income	10%	30%
Commodities	0%	0%
PERFORMANCES
Annualized Return (%)	19.57	12.92
Infl. Adjusted (%)	16.71	10.21
DRAWDOWN
Deepest Drawdown Depth (%)	-5.67	-5.05
Start to Recovery (months)	1*	1*
Longest Drawdown Depth (%)	-5.67	-5.05
Start to Recovery (months)	1*	1*
Longest Negative Period (months)	5*	4*
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%)	9.00	7.29
Sharpe Ratio	1.73	1.22
Sortino Ratio	2.10	1.43
Ulcer Index	1.57	1.40
Ratio: Return / Standard Deviation	2.17	1.77
Ratio: Return / Deepest Drawdown	3.45	2.56
Metrics calculated over the period 1 April 2025 - 31 March 2026

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	Second Grader's Starter	Yale Endowment
Author	Paul Farrell	David Swensen
ASSET ALLOCATION
Stocks	90%	70%
Fixed Income	10%	30%
Commodities	0%	0%
PERFORMANCES
Annualized Return (%)	9.00	5.95
Infl. Adjusted (%)	4.47	1.55
DRAWDOWN
Deepest Drawdown Depth (%)	-24.21	-22.63
Start to Recovery (months)	26	31
Longest Drawdown Depth (%)	-24.21	-22.63
Start to Recovery (months)	26	31
Longest Negative Period (months)	31	34
RISK INDICATORS
Standard Deviation (%)	13.43	11.90
Sharpe Ratio	0.43	0.23
Sortino Ratio	0.56	0.30
Ulcer Index	8.12	8.67
Ratio: Return / Standard Deviation	0.67	0.50
Ratio: Return / Deepest Drawdown	0.37	0.26
Metrics calculated over the period 1 April 2021 - 31 March 2026

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	Second Grader's Starter	Yale Endowment
Author	Paul Farrell	David Swensen
ASSET ALLOCATION
Stocks	90%	70%
Fixed Income	10%	30%
Commodities	0%	0%
PERFORMANCES
Annualized Return (%)	11.19	7.63
Infl. Adjusted (%)	7.70	4.25
DRAWDOWN
Deepest Drawdown Depth (%)	-24.21	-22.63
Start to Recovery (months)	26	31
Longest Drawdown Depth (%)	-24.21	-22.63
Start to Recovery (months)	26	31
Longest Negative Period (months)	31	34
RISK INDICATORS
Standard Deviation (%)	13.30	10.91
Sharpe Ratio	0.68	0.50
Sortino Ratio	0.89	0.65
Ulcer Index	6.47	6.53
Ratio: Return / Standard Deviation	0.84	0.70
Ratio: Return / Deepest Drawdown	0.46	0.34
Metrics calculated over the period 1 April 2016 - 31 March 2026

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	Second Grader's Starter	Yale Endowment
Author	Paul Farrell	David Swensen
ASSET ALLOCATION
Stocks	90%	70%
Fixed Income	10%	30%
Commodities	0%	0%
PERFORMANCES
Annualized Return (%)	8.37	7.98
Infl. Adjusted (%)	5.71	5.33
DRAWDOWN
Deepest Drawdown Depth (%)	-48.52	-40.68
Start to Recovery (months)	59	38
Longest Drawdown Depth (%)	-39.03	-40.68
Start to Recovery (months)	64	38
Longest Negative Period (months)	131	62
RISK INDICATORS
Standard Deviation (%)	13.96	10.91
Sharpe Ratio	0.44	0.53
Sortino Ratio	0.57	0.68
Ulcer Index	12.78	7.44
Ratio: Return / Standard Deviation	0.60	0.73
Ratio: Return / Deepest Drawdown	0.17	0.20
Metrics calculated over the period 1 April 1996 - 31 March 2026

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	Second Grader's Starter	Yale Endowment
Author	Paul Farrell	David Swensen
ASSET ALLOCATION
Stocks	90%	70%
Fixed Income	10%	30%
Commodities	0%	0%
PERFORMANCES
Annualized Return (%)	10.21	9.51
Infl. Adjusted (%)	7.22	6.55
DRAWDOWN
Deepest Drawdown Depth (%)	-48.52	-40.68
Start to Recovery (months)	59	38
Longest Drawdown Depth (%)	-39.03	-40.68
Start to Recovery (months)	64	38
Longest Negative Period (months)	131	62
RISK INDICATORS
Standard Deviation (%)	13.55	10.65
Sharpe Ratio	0.52	0.60
Sortino Ratio	0.68	0.77
Ulcer Index	11.22	6.66
Ratio: Return / Standard Deviation	0.75	0.89
Ratio: Return / Deepest Drawdown	0.21	0.23
Metrics calculated over the period 1 January 1985 - 31 March 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 April 1996 - 31 March 2026 (30 years)

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

30 Years
(1996/04 - 2026/03)

Chart Table

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Second Grader's Starter			Yale Endowment
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
-48.52	59	Nov 2007 Sep 2012
			-40.68	38	Nov 2007 Dec 2010
-39.03	64	Apr 2000 Jul 2005
-24.21	26	Jan 2022 Feb 2024
			-22.63	31	Jan 2022 Jul 2024
-19.32	8	Jan 2020 Aug 2020
			-14.79	7	Feb 2020 Aug 2020
-14.32	5	Jul 1998 Nov 1998
			-12.17	10	May 2011 Feb 2012
-11.99	7	Oct 2018 Apr 2019
			-10.97	9	Apr 1998 Dec 1998
-10.88	14	Jun 2015 Jul 2016
			-10.82	33	Sep 2000 May 2003
			-8.41	7	Sep 2018 Mar 2019
			-6.50	15	Mar 2015 May 2016

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Second Grader's Starter			Yale Endowment
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
-48.52	59	Nov 2007 Sep 2012
			-40.68	38	Nov 2007 Dec 2010
-39.03	64	Apr 2000 Jul 2005
-24.21	26	Jan 2022 Feb 2024
			-22.63	31	Jan 2022 Jul 2024
-21.75	17	Sep 1987 Jan 1989
-19.32	8	Jan 2020 Aug 2020
-16.95	14	Jan 1990 Feb 1991
			-16.20	16	Sep 1987 Dec 1988
			-14.79	7	Feb 2020 Aug 2020
-14.32	5	Jul 1998 Nov 1998
			-12.63	14	Jan 1990 Feb 1991
			-12.17	10	May 2011 Feb 2012
-11.99	7	Oct 2018 Apr 2019
			-10.97	9	Apr 1998 Dec 1998

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 March 2026 (~41 years)

Rolling Period:

Second Grader's Starter
Yale Endowment

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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	Second Grader's Starter		Yale Endowment
Year	Return (%)	Drawdown (%)	Return (%)	Drawdown (%)
2026	-1.73	-5.67	-0.29	-5.05
2025	20.67	-3.62	14.81	-2.00
2024	16.09	-3.63	9.42	-3.92
2023	20.93	-9.14	14.45	-8.62
2022	-17.70	-24.21	-17.82	-22.63
2021	17.70	-3.84	17.84	-3.58
2020	16.72	-19.32	10.35	-14.79
2019	25.83	-5.44	21.39	-2.68
2018	-7.40	-11.99	-5.76	-8.41
2017	21.30	0.00	13.79	0.00
2016	9.42	-5.60	7.40	-3.21
2015	-1.16	-9.62	-0.29	-6.50
2014	6.75	-3.49	9.76	-3.40
2013	24.11	-2.56	12.04	-4.27
2012	15.86	-7.88	13.44	-4.70
2011	-2.83	-17.88	2.46	-12.17
2010	14.62	-11.38	14.85	-7.93
2009	28.98	-17.20	23.34	-16.98
2008	-34.54	-37.04	-25.11	-30.37
2007	8.57	-5.03	4.93	-4.58
2006	17.83	-3.36	17.78	-2.66
2005	8.70	-3.82	8.67	-2.69
2004	14.35	-3.09	16.01	-5.84
2003	30.95	-4.37	26.59	-1.98
2002	-15.98	-22.25	-3.49	-9.34
2001	-11.78	-21.62	-1.98	-9.29
2000	-9.89	-14.07	3.33	-5.76
1999	23.19	-3.08	13.91	-2.69
1998	19.50	-14.32	8.26	-10.97
1997	19.31	-4.84	15.25	-3.44
1996	14.34	-4.50	15.04	-2.41
1995	24.48	-1.28	20.31	-1.03
1994	2.56	-5.09	-2.86	-8.21
1993	16.32	-4.22	20.71	-3.68
1992	1.74	-4.65	5.36	-3.21
1991	23.80	-4.67	29.05	-3.46
1990	-10.22	-16.95	-6.06	-12.63
1989	22.09	-2.57	21.59	-1.39
1988	18.82	-3.47	15.34	-2.25
1987	10.87	-21.75	2.49	-16.20
1986	29.27	-5.18	23.31	-3.94
1985	36.18	-2.85	30.22	-1.80

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Table of contents

Resources & Extras

Asset Allocations and ETFs

Portfolio Returns as of Mar 31, 2026

Portfolio Metrics as of Mar 31, 2026

Drawdowns

Rolling Returns

Yearly Returns