Stocks/Bonds 60/40 2x Leveraged Portfolio vs Harry Browne Permanent Portfolio Portfolio Comparison

Simulation Settings
Period: March 2010 - May 2025 (~15 years)
Consolidated Returns as of 31 May 2025
Rebalancing: at every Jan 1st
Currency: USD
Inflation: US
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Results
10 Years
All (since March 2010)
Inflation Adjusted:
Stocks/Bonds 60/40 2x Leveraged Portfolio
1.00$
Initial Capital
June 2015
2.95$
Final Capital
May 2025
11.42%
Yearly Return
19.61%
Std Deviation
-39.53%
Max Drawdown
32months
Recovery Period
1.00$
Initial Capital
June 2015
2.18$
Final Capital
May 2025
8.10%
Yearly Return
19.61%
Std Deviation
-42.70%
Max Drawdown
41months*
Recovery Period
* in progress
1.00$
Initial Capital
March 2010
8.50$
Final Capital
May 2025
15.06%
Yearly Return
17.67%
Std Deviation
-39.53%
Max Drawdown
32months
Recovery Period
1.00$
Initial Capital
March 2010
5.76$
Final Capital
May 2025
12.16%
Yearly Return
17.67%
Std Deviation
-42.70%
Max Drawdown
41months*
Recovery Period
* in progress
Harry Browne Permanent Portfolio
1.00$
Initial Capital
June 2015
1.82$
Final Capital
May 2025
6.17%
Yearly Return
7.27%
Std Deviation
-15.92%
Max Drawdown
27months
Recovery Period
1.00$
Initial Capital
June 2015
1.34$
Final Capital
May 2025
3.01%
Yearly Return
7.27%
Std Deviation
-23.09%
Max Drawdown
58months*
Recovery Period
* in progress
1.00$
Initial Capital
March 2010
2.61$
Final Capital
May 2025
6.50%
Yearly Return
6.83%
Std Deviation
-15.92%
Max Drawdown
27months
Recovery Period
1.00$
Initial Capital
March 2010
1.77$
Final Capital
May 2025
3.82%
Yearly Return
6.83%
Std Deviation
-23.09%
Max Drawdown
58months*
Recovery Period
* in progress

As of May 2025, over the analyzed timeframe, the Stocks/Bonds 60/40 2x Leveraged Portfolio obtained a 15.06% compound annual return, with a 17.67% standard deviation. It suffered a maximum drawdown of -39.53% that required 32 months to be recovered.

As of May 2025, over the analyzed timeframe, the Harry Browne Permanent Portfolio obtained a 6.50% compound annual return, with a 6.83% standard deviation. It suffered a maximum drawdown of -15.92% that required 27 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.

Stocks/Bonds 60/40 2x Leveraged Portfolio
Weight
(%)		 Ticker Name
60.00
SSO
ProShares Ultra S&P 500
40.00
UST
ProShares Ultra 7-10 Year Treasury
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
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Portfolio Returns as of May 31, 2025

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • rebalancing: at every Jan 1st.
  • dividend reinvestment, when applicable.
RETURN COMPARISON
Period: 1 March 2010 - 31 May 2025 (~15 years)
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Return (%) as of May 31, 2025
YTD
(5M) 		1M 6M 1Y 5Y 10Y MAX
(~15Y)
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_us_author.webp Stocks/Bonds 60/40 2x Leveraged
-- Market Benchmark 		-0.54 5.11 -5.46 13.25 10.87 11.42 15.06
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_harry_browne.webp Permanent Portfolio
Harry Browne 		6.92 0.68 4.23 14.58 5.60 6.17 6.50
Return over 1 year are annualized.
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Capital Growth as of May 31, 2025

Stocks/Bonds 60/40 2x Leveraged Portfolio: an investment of 1$, since June 2015, now would be worth 2.95$, with a total return of 194.90% (11.42% annualized).

Harry Browne Permanent Portfolio: an investment of 1$, since June 2015, now would be worth 1.82$, with a total return of 81.98% (6.17% annualized).


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Stocks/Bonds 60/40 2x Leveraged Portfolio: an investment of 1$, since March 2010, now would be worth 8.50$, with a total return of 749.60% (15.06% annualized).

Harry Browne Permanent Portfolio: an investment of 1$, since March 2010, now would be worth 2.61$, with a total return of 161.33% (6.50% annualized).


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Portfolio Metrics as of May 31, 2025

The following metrics, updated as of 31 May 2025, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON
Period: 1 June 2024 - 31 May 2025 (1 year)
Period: 1 June 2020 - 31 May 2025 (5 years)
Period: 1 June 2015 - 31 May 2025 (10 years)
Period: 1 March 2010 - 31 May 2025 (~15 years)
Swipe left to see all data
Stocks/Bonds 60/40 2x Leveraged Permanent Portfolio
Author Harry Browne
ASSET ALLOCATION
Stocks 60% 25%
Fixed Income 40% 50%
Commodities 0% 25%
PERFORMANCES
Annualized Return (%) 13.25 14.58
Infl. Adjusted Return (%) 10.62 11.92
DRAWDOWN
Deepest Drawdown Depth (%) -10.05 -2.51
Start to Recovery (months) 6* 2
Longest Drawdown Depth (%) -10.05 -0.13
Start to Recovery (months) 6* 2
Longest Negative Period (months) 9 3
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 15.07 4.78
Sharpe Ratio 0.57 2.07
Sortino Ratio 0.75 2.52
Ulcer Index 4.45 0.70
Ratio: Return / Standard Deviation 0.88 3.05
Ratio: Return / Deepest Drawdown 1.32 5.80
Metrics calculated over the period 1 June 2024 - 31 May 2025
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Stocks/Bonds 60/40 2x Leveraged Permanent Portfolio
Author Harry Browne
ASSET ALLOCATION
Stocks 60% 25%
Fixed Income 40% 50%
Commodities 0% 25%
PERFORMANCES
Annualized Return (%) 10.87 5.60
Infl. Adjusted Return (%) 5.97 0.93
DRAWDOWN
Deepest Drawdown Depth (%) -39.53 -15.92
Start to Recovery (months) 32 27
Longest Drawdown Depth (%) -39.53 -15.92
Start to Recovery (months) 32 27
Longest Negative Period (months) 40 40
RISK INDICATORS
Standard Deviation (%) 22.76 8.42
Sharpe Ratio 0.36 0.35
Sortino Ratio 0.49 0.49
Ulcer Index 17.57 5.91
Ratio: Return / Standard Deviation 0.48 0.66
Ratio: Return / Deepest Drawdown 0.27 0.35
Metrics calculated over the period 1 June 2020 - 31 May 2025
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Stocks/Bonds 60/40 2x Leveraged Permanent Portfolio
Author Harry Browne
ASSET ALLOCATION
Stocks 60% 25%
Fixed Income 40% 50%
Commodities 0% 25%
PERFORMANCES
Annualized Return (%) 11.42 6.17
Infl. Adjusted Return (%) 8.10 3.01
DRAWDOWN
Deepest Drawdown Depth (%) -39.53 -15.92
Start to Recovery (months) 32 27
Longest Drawdown Depth (%) -39.53 -15.92
Start to Recovery (months) 32 27
Longest Negative Period (months) 40 40
RISK INDICATORS
Standard Deviation (%) 19.61 7.27
Sharpe Ratio 0.49 0.60
Sortino Ratio 0.65 0.85
Ulcer Index 12.98 4.48
Ratio: Return / Standard Deviation 0.58 0.85
Ratio: Return / Deepest Drawdown 0.29 0.39
Metrics calculated over the period 1 June 2015 - 31 May 2025
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Stocks/Bonds 60/40 2x Leveraged Permanent Portfolio
Author Harry Browne
ASSET ALLOCATION
Stocks 60% 25%
Fixed Income 40% 50%
Commodities 0% 25%
PERFORMANCES
Annualized Return (%) 15.06 6.50
Infl. Adjusted Return (%) 12.16 3.82
DRAWDOWN
Deepest Drawdown Depth (%) -39.53 -15.92
Start to Recovery (months) 32 27
Longest Drawdown Depth (%) -39.53 -15.92
Start to Recovery (months) 32 27
Longest Negative Period (months) 40 40
RISK INDICATORS
Standard Deviation (%) 17.67 6.83
Sharpe Ratio 0.79 0.78
Sortino Ratio 1.04 1.11
Ulcer Index 10.67 3.95
Ratio: Return / Standard Deviation 0.85 0.95
Ratio: Return / Deepest Drawdown 0.38 0.41
Metrics calculated over the period 1 March 2010 - 31 May 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 June 2015 - 31 May 2025 (10 years)
Period: 1 March 2010 - 31 May 2025 (~15 years)

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Stocks/Bonds 60/40 2x Leveraged Permanent Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-39.53 32 Jan 2022
Aug 2024
-18.11 6 Feb 2020
Jul 2020
-15.92 27 Jan 2022
Mar 2024
-15.62 8 Sep 2018
Apr 2019
-10.05 6* Dec 2024
In progress
-9.46 10 Jun 2015
Mar 2016
-9.19 7 Feb 2018
Aug 2018
-8.27 3 Sep 2020
Nov 2020
-7.42 2 Sep 2021
Oct 2021
-6.98 13 Aug 2016
Aug 2017
-6.52 2 May 2019
Jun 2019
-4.43 5 Jan 2021
May 2021
-4.25 13 Feb 2018
Feb 2019
-4.20 6 Aug 2016
Jan 2017
-3.92 2 Oct 2024
Nov 2024

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Stocks/Bonds 60/40 2x Leveraged Permanent Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-39.53 32 Jan 2022
Aug 2024
-18.11 6 Feb 2020
Jul 2020
-15.92 27 Jan 2022
Mar 2024
-15.62 8 Sep 2018
Apr 2019
-11.64 5 May 2010
Sep 2010
-11.21 8 Jun 2011
Jan 2012
-10.05 6* Dec 2024
In progress
-9.46 10 Jun 2015
Mar 2016
-9.19 7 Feb 2018
Aug 2018
-8.27 3 Sep 2020
Nov 2020
-7.42 2 Sep 2021
Oct 2021
-6.98 13 Aug 2016
Aug 2017
-6.86 17 Oct 2012
Feb 2014
-6.73 15 Feb 2015
Apr 2016
-6.52 2 May 2019
Jun 2019

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 March 2010 - 31 May 2025 (~15 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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Stocks/Bonds 60/40 2x Leveraged Permanent Portfolio
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2025
 -0.54 -7.99 6.92 0.00
2024
 23.62 -7.91 11.90 -2.51
2023
 28.05 -16.05 11.55 -5.68
2022
 -35.46 -39.53 -12.53 -15.92
2021
 33.12 -7.42 4.21 -4.43
2020
 20.45 -18.11 16.10 -3.30
2019
 43.41 -6.52 16.17 -1.10
2018
 -9.21 -15.62 -1.76 -4.25
2017
 27.89 0.00 10.97 -0.83
2016
 13.14 -4.20 5.54 -6.98
2015
 0.05 -9.46 -3.06 -6.73
2014
 22.38 -2.67 9.40 -2.62
2013
 37.26 -5.13 -2.08 -6.04
2012
 21.30 -5.28 6.41 -1.83
2011
 10.55 -11.21 11.11 -1.85
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