Total Bond Developed World To EUR Hedged Portfolio vs Davide Pisicchio Four Seasons 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:
Total Bond Developed World To EUR Hedged Portfolio
1.00€
Initial Capital
May 1995
2.41€
Final Capital
April 2025
2.98%
Yearly Return
3.76%
Std Deviation
-20.51%
Max Drawdown
57months*
Recovery Period
* in progress
1.00€
Initial Capital
May 1995
1.31€
Final Capital
April 2025
0.91%
Yearly Return
3.76%
Std Deviation
-32.94%
Max Drawdown
105months*
Recovery Period
* in progress
1.00€
Initial Capital
January 1994
2.17€
Final Capital
April 2025
2.50%
Yearly Return
3.86%
Std Deviation
-20.51%
Max Drawdown
57months*
Recovery Period
* in progress
1.00€
Initial Capital
January 1994
1.13€
Final Capital
April 2025
0.40%
Yearly Return
3.86%
Std Deviation
-32.94%
Max Drawdown
105months*
Recovery Period
* in progress
Davide Pisicchio Four Seasons Portfolio
1.00€
Initial Capital
May 1995
9.13€
Final Capital
April 2025
7.65%
Yearly Return
7.12%
Std Deviation
-15.31%
Max Drawdown
57months
Recovery Period
1.00€
Initial Capital
May 1995
4.97€
Final Capital
April 2025
5.49%
Yearly Return
7.12%
Std Deviation
-20.41%
Max Drawdown
113months
Recovery Period
1.00€
Initial Capital
January 1994
8.86€
Final Capital
April 2025
7.21%
Yearly Return
7.10%
Std Deviation
-15.31%
Max Drawdown
57months
Recovery Period
1.00€
Initial Capital
January 1994
4.63€
Final Capital
April 2025
5.02%
Yearly Return
7.10%
Std Deviation
-20.41%
Max Drawdown
113months
Recovery Period

As of April 2025, in the previous 30 Years, the Total Bond Developed World To EUR Hedged Portfolio obtained a 2.98% compound annual return, with a 3.76% standard deviation. It suffered a maximum drawdown of -20.51% which has been ongoing for 57 months and is still in progress.

As of April 2025, in the previous 30 Years, the Davide Pisicchio Four Seasons Portfolio obtained a 7.65% compound annual return, with a 7.12% standard deviation. It suffered a maximum drawdown of -15.31% that required 57 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.

Total Bond Developed World To EUR Hedged Portfolio
Weight
(%)		 Ticker Name
100.00
DBZB.DE
Xtrackers Global Government Bond Eur Hedged
Davide Pisicchio Four Seasons Portfolio
Weight
(%)		 Ticker Name
40.00
XD9U.DE
Xtrackers MSCI USA
30.00
CBUE.DE
iShares USD Treasury Bond 3-7yr Eur Hedged
5.00
IBCI.DE
iShares Euro Inflation Linked Government Bond
5.00
PR1H.DE
Amundi US Treasury Bond 0-1Y EUR Hedged
5.00
VDCE.DE
Vanguard USD Corporate Bond EUR Hedged
5.00
ZPRC.DE
SPDR Refinitiv Global Convertible Bond
10.00
PHAU
WisdomTree Physical Gold
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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)
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_world.webp Total Bond Developed World • Hedged
-- Market Benchmark 		1.73 1.17 1.29 4.31 -2.92 -0.49 2.98 2.50
https://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_davide_pisicchio.webp Four Seasons Portfolio
Davide Pisicchio 		-3.53 -1.58 -0.36 8.04 7.06 6.20 7.65 7.21
Return over 1 year are annualized.
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Capital Growth as of Apr 30, 2025

Total Bond Developed World To EUR Hedged Portfolio: an investment of 1€, since May 1995, now would be worth 2.41€, with a total return of 141.29% (2.98% annualized).

Davide Pisicchio Four Seasons Portfolio: an investment of 1€, since May 1995, now would be worth 9.13€, with a total return of 813.39% (7.65% annualized).


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Total Bond Developed World To EUR Hedged Portfolio: an investment of 1€, since January 1994, now would be worth 2.17€, with a total return of 116.88% (2.50% annualized).

Davide Pisicchio Four Seasons Portfolio: an investment of 1€, since January 1994, now would be worth 8.86€, with a total return of 786.09% (7.21% 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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Total Bond Developed World To EUR Hedged Four Seasons Portfolio
Author Davide Pisicchio
ASSET ALLOCATION
Stocks 0% 40%
Fixed Income 100% 50%
Commodities 0% 10%
PERFORMANCES
Annualized Return (%) 4.31 8.04
Infl. Adjusted Return (%) 2.10 5.75
DRAWDOWN
Deepest Drawdown Depth (%) -2.10 -6.18
Start to Recovery (months) 7* 3*
Longest Drawdown Depth (%) -2.10 -6.18
Start to Recovery (months) 7* 3*
Longest Negative Period (months) 7 6*
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 3.65 7.45
Sharpe Ratio -0.14 0.44
Sortino Ratio -0.17 0.61
Ulcer Index 1.06 2.21
Ratio: Return / Standard Deviation 1.18 1.08
Ratio: Return / Deepest Drawdown 2.05 1.30
Metrics calculated over the period 1 May 2024 - 30 April 2025
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Total Bond Developed World To EUR Hedged Four Seasons Portfolio
Author Davide Pisicchio
ASSET ALLOCATION
Stocks 0% 40%
Fixed Income 100% 50%
Commodities 0% 10%
PERFORMANCES
Annualized Return (%) -2.92 7.06
Infl. Adjusted Return (%) -6.73 2.86
DRAWDOWN
Deepest Drawdown Depth (%) -20.51 -10.88
Start to Recovery (months) 57* 25
Longest Drawdown Depth (%) -20.51 -10.88
Start to Recovery (months) 57* 25
Longest Negative Period (months) 60* 27
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 5.12 6.94
Sharpe Ratio -1.06 0.65
Sortino Ratio -1.54 0.89
Ulcer Index 12.90 4.26
Ratio: Return / Standard Deviation -0.57 1.02
Ratio: Return / Deepest Drawdown -0.14 0.65
Metrics calculated over the period 1 May 2020 - 30 April 2025
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Total Bond Developed World To EUR Hedged Four Seasons Portfolio
Author Davide Pisicchio
ASSET ALLOCATION
Stocks 0% 40%
Fixed Income 100% 50%
Commodities 0% 10%
PERFORMANCES
Annualized Return (%) -0.49 6.20
Infl. Adjusted Return (%) -2.94 3.59
DRAWDOWN
Deepest Drawdown Depth (%) -20.51 -10.88
Start to Recovery (months) 57* 25
Longest Drawdown Depth (%) -20.51 -10.88
Start to Recovery (months) 57* 25
Longest Negative Period (months) 120* 27
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 4.35 6.80
Sharpe Ratio -0.52 0.65
Sortino Ratio -0.74 0.91
Ulcer Index 9.44 3.33
Ratio: Return / Standard Deviation -0.11 0.91
Ratio: Return / Deepest Drawdown -0.02 0.57
Metrics calculated over the period 1 May 2015 - 30 April 2025
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Total Bond Developed World To EUR Hedged Four Seasons Portfolio
Author Davide Pisicchio
ASSET ALLOCATION
Stocks 0% 40%
Fixed Income 100% 50%
Commodities 0% 10%
PERFORMANCES
Annualized Return (%) 2.98 7.65
Infl. Adjusted Return (%) 0.91 5.49
DRAWDOWN
Deepest Drawdown Depth (%) -20.51 -15.31
Start to Recovery (months) 57* 57
Longest Drawdown Depth (%) -20.51 -15.31
Start to Recovery (months) 57* 57
Longest Negative Period (months) 142 56
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 3.76 7.12
Sharpe Ratio 0.19 0.75
Sortino Ratio 0.27 1.03
Ulcer Index 5.58 4.26
Ratio: Return / Standard Deviation 0.79 1.07
Ratio: Return / Deepest Drawdown 0.15 0.50
Metrics calculated over the period 1 May 1995 - 30 April 2025
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Total Bond Developed World To EUR Hedged Four Seasons Portfolio
Author Davide Pisicchio
ASSET ALLOCATION
Stocks 0% 40%
Fixed Income 100% 50%
Commodities 0% 10%
PERFORMANCES
Annualized Return (%) 2.50 7.21
Infl. Adjusted Return (%) 0.40 5.02
DRAWDOWN
Deepest Drawdown Depth (%) -20.51 -15.31
Start to Recovery (months) 57* 57
Longest Drawdown Depth (%) -20.51 -15.31
Start to Recovery (months) 57* 57
Longest Negative Period (months) 142 56
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 3.86 7.10
Sharpe Ratio 0.04 0.68
Sortino Ratio 0.05 0.94
Ulcer Index 5.82 4.37
Ratio: Return / Standard Deviation 0.65 1.02
Ratio: Return / Deepest Drawdown 0.12 0.47
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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Total Bond Developed World To EUR Hedged Four Seasons Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-20.51 57* Aug 2020
In progress
-15.31 57 Sep 2000
May 2005
-12.21 25 Nov 2007
Nov 2009
-10.88 25 Jan 2022
Jan 2024
-9.09 6 Jul 1998
Dec 1998
-6.89 5 Feb 2020
Jun 2020
-6.19 8 Apr 2015
Nov 2015
-6.18 3* Feb 2025
In progress
-6.08 37 Jul 2016
Jul 2019
-4.66 6 Sep 2018
Feb 2019
-4.50 6 Aug 1997
Jan 1998
-4.33 22 Feb 2008
Nov 2009
-4.06 7 Dec 2015
Jun 2016
-4.03 4 Jun 1996
Sep 1996
-3.84 16 May 1999
Aug 2000

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Total Bond Developed World To EUR Hedged Four Seasons Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-20.51 57* Aug 2020
In progress
-15.31 57 Sep 2000
May 2005
-12.21 25 Nov 2007
Nov 2009
-12.11 23 Feb 1994
Dec 1995
-10.88 25 Jan 2022
Jan 2024
-9.09 6 Jul 1998
Dec 1998
-8.38 18 Feb 1994
Jul 1995
-6.89 5 Feb 2020
Jun 2020
-6.19 8 Apr 2015
Nov 2015
-6.18 3* Feb 2025
In progress
-6.08 37 Jul 2016
Jul 2019
-4.66 6 Sep 2018
Feb 2019
-4.50 6 Aug 1997
Jan 1998
-4.33 22 Feb 2008
Nov 2009
-4.06 7 Dec 2015
Jun 2016

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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Total Bond Developed World To EUR Hedged Four Seasons Portfolio
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2025
 1.73 -0.77 -3.53 -6.18
2024
 -0.85 -3.30 17.28 -1.19
2023
 4.01 -4.99 11.68 -2.75
2022
 -15.11 -15.11 -10.88 -10.88
2021
 -3.19 -3.28 15.06 -1.42
2020
 4.16 -1.35 8.68 -6.89
2019
 4.55 -2.84 18.53 -1.77
2018
 -0.36 -2.04 -0.98 -4.66
2017
 -0.12 -0.86 2.75 -3.01
2016
 2.21 -4.14 7.95 -1.70
2015
 0.75 -3.04 5.52 -6.19
2014
 8.04 -0.28 15.26 -0.24
2013
 -0.82 -2.87 8.16 -2.70
2012
 3.96 -0.28 8.66 -1.77
2011
 6.31 -0.87 6.20 -1.88
2010
 3.46 -2.43 17.62 -2.09
2009
 0.68 -1.97 15.05 -3.91
2008
 -0.49 -4.33 -9.37 -9.37
2007
 0.37 -1.30 2.89 -2.64
2006
 -0.93 -2.91 3.10 -3.66
2005
 5.66 -0.76 13.54 -1.37
2004
 2.90 -1.45 3.73 -1.93
2003
 2.32 -2.23 5.80 -2.99
2002
 7.51 -1.00 -7.10 -10.48
2001
 5.02 -1.96 1.59 -7.49
2000
 7.88 -0.34 2.43 -7.50
1999
 -1.50 -3.84 20.55 -3.73
1998
 8.51 -0.52 9.74 -9.09
1997
 11.65 -1.20 23.09 -4.50
1996
 12.39 -1.76 10.77 -4.03
1995
 13.75 -0.82 19.94 -0.54
1994
 -10.65 -12.11 -6.10 -8.38
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