Bill Bernstein Coward's Portfolio
The Coward’s Portfolio, also known as the Smart Money Portfolio, is a popular lazy portfolio proposed by William Bernstein in 1996 at his Efficient Frontier website. It is designed for investors looking to extend simpler alternatives like his No-Brainer Portfolio.
Asset Allocation
Performance
The chart shows the growth of $10,000 invested in Bill Bernstein Coward's Portfolio in Oct 2022 and compares it to the S&P 500 index or another benchmark. It would be worth nearly $26,858 for a total return of roughly 168.58%. All prices are adjusted for splits and dividends. The portfolio is rebalanced Quarterly
Returns
As of Mar 18, 2023, the Bill Bernstein Coward's Portfolio returned 0.47% Year-To-Date and 5.64% of annualized return in the last 10 years.
| 1 month | Year-To-Date | 6 months | 1 year | 5 years (annualized) | 10 years (annualized) | |
|---|---|---|---|---|---|---|
| Benchmark | -5.31% | 2.01% | 0.39% | -10.12% | 7.32% | 9.71% |
| Bill Bernstein Coward's Portfolio | -4.30% | 0.47% | 1.83% | -5.82% | 4.22% | 5.64% |
| Portfolio components: | ||||||
VNQ Vanguard Real Estate ETF | -10.54% | -2.34% | -8.54% | -20.26% | 4.86% | 5.52% |
VV Vanguard Large-Cap ETF | -5.08% | 2.65% | 0.95% | -9.25% | 9.01% | 11.66% |
SHY iShares 1-3 Year Treasury Bond ETF | 1.66% | 1.75% | 1.92% | -0.34% | 1.04% | 0.69% |
VPL Vanguard FTSE Pacific ETF | -5.59% | 0.73% | 6.54% | -8.68% | 0.17% | 3.95% |
IJR iShares Core S&P Small-Cap ETF | -11.12% | -1.73% | -0.79% | -12.46% | 4.67% | 9.41% |
VGK Vanguard FTSE Europe ETF | -6.76% | 2.96% | 13.22% | -4.60% | 2.52% | 4.72% |
IJS iShares S&P SmallCap 600 Value ETF | -12.59% | -1.48% | 0.68% | -10.89% | 4.45% | 8.79% |
VTV Vanguard Value ETF | -8.04% | -5.43% | 0.15% | -6.20% | 7.15% | 10.13% |
EEM iShares MSCI Emerging Markets ETF | -7.02% | -0.77% | 0.11% | -14.33% | -3.15% | 0.97% |
| Returns over 1 year are annualized | ||||||
Dividends
Bill Bernstein Coward's Portfolio granted a 2.02% dividend yield in the last twelve months.
| Period | TTM | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dividend yield | 2.02% | 1.86% | 1.30% | 1.53% | 2.34% | 2.42% | 1.85% | 1.90% | 1.89% | 1.81% | 1.67% | 2.00% |
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below shows the maximum drawdowns of the Bill Bernstein Coward's Portfolio. A maximum drawdown is an indicator of risk. It shows a reduction in portfolio value from its maximum due to a series of losing trades.
The maximum drawdown since January 2010 for the Bill Bernstein Coward's Portfolio is 37.25%, recorded on Mar 9, 2009. It took 450 trading sessions for the portfolio to recover.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -37.25% | Oct 10, 2007 | 355 | Mar 9, 2009 | 450 | Dec 17, 2010 | 805 |
| -21.52% | Jan 21, 2020 | 44 | Mar 23, 2020 | 114 | Sep 2, 2020 | 158 |
| -16.64% | Nov 9, 2021 | 225 | Sep 30, 2022 | — | — | — |
| -14.01% | May 2, 2011 | 108 | Oct 3, 2011 | 95 | Feb 17, 2012 | 203 |
| -11.06% | Aug 30, 2018 | 80 | Dec 24, 2018 | 70 | Apr 5, 2019 | 150 |
| -10.2% | Apr 29, 2015 | 200 | Feb 11, 2016 | 103 | Jul 11, 2016 | 303 |
| -7.02% | May 10, 2006 | 24 | Jun 13, 2006 | 79 | Oct 4, 2006 | 103 |
| -6.86% | Apr 3, 2012 | 43 | Jun 4, 2012 | 66 | Sep 6, 2012 | 109 |
| -6.3% | Jul 16, 2007 | 23 | Aug 15, 2007 | 30 | Sep 27, 2007 | 53 |
| -5.99% | Jan 29, 2018 | 9 | Feb 8, 2018 | 134 | Aug 21, 2018 | 143 |
Volatility Chart
Current Bill Bernstein Coward's Portfolio volatility is 19.11%. The chart below shows the rolling 10-day volatility. Volatility is a statistical measure showing how big price swings are in either direction. The higher asset volatility, the riskier it is, because the price movements are less predictable.