Asset Allocation
Find the right asset allocation for Aronson Family Taxable Portfolio
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Performance Chart
The chart shows the growth of an initial investment of $10,000 in Aronson Family Taxable Portfolio, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.
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Returns By Period
As of Jul 14, 2026, the Aronson Family Taxable Portfolio returned 12.71% Year-To-Date and 8.86% of annualized return in the last 10 years.
| Position | 1D | 1M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.38% | 1.51% | 8.33% | 10.20% | 20.34% | 18.74% | 11.59% | 13.31% |
Portfolio Aronson Family Taxable Portfolio | 0.70% | -0.15% | 9.56% | 12.71% | 22.23% | 13.66% | 6.32% | 8.86% |
| Portfolio components: | ||||||||
EEM iShares MSCI Emerging Markets ETF | 1.81% | -2.75% | 14.78% | 20.66% | 38.54% | 19.81% | 6.46% | 8.64% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 0.20% | 0.14% | 1.28% | 1.79% | 5.49% | 8.20% | 3.67% | 4.67% |
IJR iShares Core S&P Small-Cap ETF | 0.27% | 1.50% | 15.44% | 21.53% | 30.20% | 14.56% | 7.78% | 10.74% |
IJS iShares S&P SmallCap 600 Value ETF | 0.17% | 0.36% | 13.62% | 19.75% | 32.52% | 13.70% | 7.86% | 9.96% |
IJT iShares S&P SmallCap 600 Growth ETF | 0.42% | 2.66% | 17.20% | 23.12% | 27.84% | 15.09% | 7.40% | 10.99% |
TIP iShares TIPS Bond ETF | 0.09% | -0.50% | 0.55% | 0.89% | 3.12% | 3.65% | 0.47% | 2.34% |
TLT iShares 20+ Year Treasury Bond ETF | 0.13% | -1.61% | -2.09% | -1.35% | 2.69% | -2.02% | -7.65% | -2.15% |
VGK Vanguard FTSE Europe ETF | 0.50% | -0.13% | 4.82% | 7.55% | 17.05% | 15.40% | 9.14% | 9.87% |
VPL Vanguard FTSE Pacific ETF | 2.27% | -1.90% | 18.95% | 24.45% | 43.23% | 20.12% | 9.81% | 9.97% |
VTI Vanguard Total Stock Market ETF | 0.37% | 1.60% | 9.07% | 11.37% | 22.02% | 19.91% | 12.17% | 14.71% |
Monthly Returns
Based on dividend-adjusted daily data since Apr 11, 2007, Aronson Family Taxable Portfolio's average daily return is +0.03%, while the average monthly return is +0.65%. At this rate, an investment would double in approximately 8.9 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2020 with a return of +10.0%, while the worst month was Oct 2008 at -16.1%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 6 months.
On a daily basis, Aronson Family Taxable Portfolio closed higher 54% of trading days. The best single day was Oct 13, 2008 with a return of +9.0%, while the worst single day was Oct 15, 2008 at -7.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.92% | 3.27% | -5.51% | 7.41% | 3.59% | 1.30% | -1.39% | 12.71% | |||||
| 2025 | 2.35% | -0.11% | -2.27% | -0.28% | 3.34% | 3.88% | 0.45% | 3.34% | 2.60% | 1.53% | 0.39% | 0.38% | 16.54% |
| 2024 | -1.29% | 2.42% | 2.45% | -3.76% | 3.51% | 0.71% | 3.91% | 1.03% | 1.89% | -2.96% | 3.78% | -4.06% | 7.40% |
| 2023 | 7.11% | -3.21% | 1.51% | -0.01% | -1.42% | 4.29% | 2.90% | -3.11% | -4.29% | -3.25% | 7.49% | 6.36% | 14.19% |
| 2022 | -4.40% | -1.09% | -0.49% | -6.86% | 0.39% | -6.55% | 6.09% | -3.85% | -8.99% | 4.42% | 7.16% | -3.74% | -17.79% |
| 2021 | 0.96% | 1.82% | 1.40% | 2.34% | 1.28% | 1.16% | 0.05% | 1.30% | -2.64% | 2.81% | -1.68% | 2.52% | 11.75% |
Benchmark Metrics
Aronson Family Taxable Portfolio has an annualized alpha of 0.93%, beta of 0.68, and R2 of 0.88 versus S&P 500 Index. Calculated based on daily prices since April 11, 2007.
- This portfolio participated in 75.89% of S&P 500 Index downside but only 71.12% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.68 indicates this portfolio moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.93%
- Beta
- 0.68
- R²
- 0.88
- Upside Capture
- 71.12%
- Downside Capture
- 75.89%
Expense Ratio
Aronson Family Taxable Portfolio has an expense ratio of 0.19%, which is considered low. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.
Top 10 holdings
Return for Risk
Risk / Return Rank
Aronson Family Taxable Portfolio ranks 56 for risk / return — on par with similar Portfolios. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below presents risk-adjusted performance metrics for Aronson Family Taxable Portfolio and compares them with S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 1.84 | 1.63 | +0.21 |
| Sortino ratioReturn per unit of downside risk | 2.58 | 2.25 | +0.33 |
| Omega ratioGain probability vs. loss probability | 1.34 | 1.30 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 2.25 | +0.60 |
| Martin ratioReturn relative to average drawdown | 11.35 | 9.74 | +1.60 |
How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.
| Position | Risk / Return Rank | Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio |
|---|---|---|---|---|---|---|
EEM iShares MSCI Emerging Markets ETF | 65 | 1.64 | 2.16 | 1.31 | 2.86 | 9.70 |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 59 | 1.44 | 2.16 | 1.27 | 2.36 | 10.40 |
IJR iShares Core S&P Small-Cap ETF | 72 | 1.73 | 2.56 | 1.30 | 3.49 | 11.71 |
IJS iShares S&P SmallCap 600 Value ETF | 75 | 1.81 | 2.64 | 1.32 | 3.52 | 11.63 |
IJT iShares S&P SmallCap 600 Growth ETF | 65 | 1.56 | 2.35 | 1.27 | 3.08 | 10.69 |
TIP iShares TIPS Bond ETF | 32 | 0.90 | 1.34 | 1.16 | 1.59 | 4.52 |
TLT iShares 20+ Year Treasury Bond ETF | 14 | 0.29 | 0.49 | 1.05 | 0.36 | 0.82 |
VGK Vanguard FTSE Europe ETF | 37 | 1.08 | 1.61 | 1.19 | 1.42 | 5.25 |
VPL Vanguard FTSE Pacific ETF | 75 | 1.89 | 2.46 | 1.35 | 3.26 | 11.51 |
VTI Vanguard Total Stock Market ETF | 67 | 1.73 | 2.38 | 1.31 | 2.48 | 10.86 |
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Dividends
Dividend yield
Aronson Family Taxable Portfolio provided a 2.56% dividend yield over the last twelve months.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 2.56% | 2.70% | 2.60% | 2.46% | 3.00% | 2.32% | 1.58% | 2.24% | 2.53% | 2.10% | 2.13% | 2.06% |
| Portfolio components: | ||||||||||||
EEM iShares MSCI Emerging Markets ETF | 1.70% | 2.22% | 2.43% | 2.63% | 2.50% | 1.99% | 1.45% | 2.76% | 2.24% | 1.89% | 1.89% | 2.49% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.91% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
IJR iShares Core S&P Small-Cap ETF | 1.13% | 1.44% | 2.05% | 1.31% | 1.41% | 1.53% | 1.11% | 1.44% | 1.58% | 1.20% | 1.22% | 1.48% |
IJS iShares S&P SmallCap 600 Value ETF | 1.33% | 1.62% | 1.78% | 1.42% | 1.46% | 1.52% | 1.00% | 1.66% | 1.75% | 1.41% | 1.22% | 1.59% |
IJT iShares S&P SmallCap 600 Growth ETF | 0.70% | 0.91% | 1.06% | 1.02% | 1.08% | 0.63% | 0.68% | 0.92% | 0.92% | 0.86% | 1.03% | 1.14% |
TIP iShares TIPS Bond ETF | 4.45% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
TLT iShares 20+ Year Treasury Bond ETF | 4.64% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
VGK Vanguard FTSE Europe ETF | 2.91% | 2.86% | 3.61% | 3.15% | 3.25% | 3.05% | 2.11% | 3.27% | 3.95% | 2.70% | 3.52% | 3.25% |
VPL Vanguard FTSE Pacific ETF | 2.69% | 4.01% | 3.15% | 3.12% | 2.75% | 3.19% | 1.81% | 2.84% | 3.06% | 2.57% | 2.65% | 2.43% |
VTI Vanguard Total Stock Market ETF | 1.05% | 1.12% | 1.27% | 1.44% | 1.66% | 1.21% | 1.42% | 1.78% | 2.04% | 1.71% | 1.92% | 1.98% |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Aronson Family Taxable Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Aronson Family Taxable Portfolio was 42.95%, occurring on Mar 9, 2009. Recovery took 420 trading sessions.
The current Aronson Family Taxable Portfolio drawdown is 2.41%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -42.95%Mar 2009 | 1y 4mo | 1y 8mo | 3y 4dNov 2007 - Nov 2010 |
COVID crash2020 | -25.12%Mar 2020 | 2mo 1d | 4mo 19d | 6mo 20dJan 2020 - Aug 2020 |
Bear market2022 | -24.93%Oct 2022 | 11mo 8d | 1y 9mo | 2y 8moNov 2021 - Jul 2024 |
2016 correction2016 | -14.48%Feb 2016 | 9mo 20d | 5mo 17d | 1y 3moApr 2015 - Jul 2016 |
Rate-hike selloffLate 2018 | -14.09%Dec 2018 | 10mo 29d | 6mo 9d | 1y 5moJan 2018 - Jul 2019 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Diversification
AI Analysis
The gist
The portfolio is a pretty classic global balanced mix, except the equity sleeve is split into several funds that mostly move together, so the main bet is still broad equity market risk with a bond flank rather than a truly orthogonal set of return streams.
The numbers
- 9.09 / 11 effective assets is respectable, but the 1.20 diversification ratio at 34.5th percentile says the portfolio gets only modest help from correlation, especially lately.
- The longer-window DR is steadier at 1.27-1.29 and around the 53.5th-58.4th percentile, which is more “adequate” than “clever.”
- Correlations inside the equity sleeve are very high: VV (Large Cap Blend Equities) and VTI (Large Cap Blend Equities) at 0.99, with the small-cap trio near 0.95-0.98.
The good
- The portfolio is not pretending that Vanguard FTSE Pacific ETF (VPL), Vanguard FTSE Europe ETF (VGK), and iShares MSCI Emerging Markets ETF (EEM) are the same thing, which is sensible.
- iShares TIPS Bond ETF (TIP) and iShares 20+ Year Treasury Bond ETF (TLT) sit in a genuinely different cluster, so the bond sleeve is doing real diversification work.
- The weights are spread enough that no single position dominates; the effective asset count says the structure is fairly broad, in some sense.
The bad
- VV/VTI is nearly one position, and IJT/IJR/IJS is a second almost-single position, so part of the 11-line roster is really a few correlated bets in a trench coat.
- HYG sits closer to credit-sensitive risk than to true ballast, so it often behaves like equity-adjacent income rather than a clean diversifier.
The ugly
- In an inflation shock with rising real yields, the TIP/TLT cluster can stop looking like diversification and start looking like two versions of duration pain.
- In a global growth scare, the developed ex-U.S., emerging, and small-cap sleeves can all lean the same way at once, which is what correlation tables call a cluster and portfolio managers call an afternoon.
Next steps
- Portfolios with this structure are often cleaner when the equity sleeve is recognized as a few large correlated blocks rather than many independent bets.
- The bond side would read as sturdier if the credit-sensitive piece were not carrying so much of the “diversifier” label.
- The DR pattern suggests the portfolio has been moderately diversified for years, though less so in the most recent window.
Diversification Metrics
Number of Effective Assets
The portfolio contains 11 assets, with an effective number of assets of 9.09, reflecting the diversification based on asset allocation. Your capital is well-distributed across most of your holdings, with only mild concentration in a few names. True diversification also depends on the correlations between assets — check the diversification ratio below.
Diversification Ratio
1Y | 3Y | 5Y | 10Y | All Time | |
|---|---|---|---|---|---|
Diversification Ratio | 1.20 | 1.24 | 1.27 | 1.28 | 1.29 |
The portfolio has a diversification ratio of 1.29, in line with the typical range across portfolios. There's room to improve by adding less correlated assets.
Aronson Family Taxable Portfolio correlation to the S&P 500 Index
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007 | 0.91 |
Benchmark Correlations
Correlation vs. S&P 500 Index. VV has the highest benchmark correlation at 1.00, while TLT has the lowest at -0.26.
Asset Correlations Table
Find what Aronson Family Taxable Portfolio is missing
See which holdings overlap, where Aronson Family Taxable Portfolio is concentrated, and which low-correlation assets could fill the gaps.
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