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Bill Bernstein No Brainer Portfolio

Last updated Nov 30, 2022

No Brainer Portfolio is perhaps the simplest portfolio presented by William Bernstein in his book The Intelligent Asset Allocator. It is a lazy portfolio consisting of four equally-weighted asset classes: US large-cap stocks, US small-cap stocks, international stocks, and bonds.

Expense Ratio

Rank 17 of 54

0.04%
0.00%0.94%
Dividend Yield

Rank 23 of 54

2.29%
0.00%4.60%
10Y Annualized Return

Rank 23 of 54

8.80%
3.45%54.48%
Sharpe Ratio

Rank 11 of 54

-0.62
-1.210.45
Maximum Drawdown

Rank 38 of 54

-32.16%
-91.88%-19.55%

Bill Bernstein No Brainer PortfolioAsset Allocation


Bill Bernstein No Brainer PortfolioPerformance

The chart shows the growth of $10,000 invested in Bill Bernstein No Brainer Portfolio in Sep 2010 and compares it to the S&P 500 index or another benchmark. It would be worth nearly $26,411 for a total return of roughly 164.11%. All prices are adjusted for splits and dividends. The portfolio is rebalanced Quarterly


-15.00%-10.00%-5.00%0.00%JulyAugustSeptemberOctoberNovember
-4.13%
-5.25%
Bill Bernstein No Brainer Portfolio
Benchmark (^GSPC)
Portfolio components

Bill Bernstein No Brainer PortfolioReturns

As of Nov 30, 2022, the Bill Bernstein No Brainer Portfolio returned -14.98% Year-To-Date and 8.80% of annualized return in the last 10 years.


1M6MYTD1Y5Y10Y
Benchmark1.45%-4.82%-16.96%-13.86%8.56%10.84%
Bill Bernstein No Brainer Portfolio3.88%-3.98%-14.35%-12.52%5.38%7.83%
VEA
Vanguard FTSE Developed Markets ETF
9.57%-5.29%-15.05%-11.82%2.08%5.33%
VB
Vanguard Small-Cap ETF
1.73%-2.45%-14.58%-13.59%6.89%10.85%
BND
Vanguard Total Bond Market ETF
2.55%-5.20%-13.08%-13.33%-0.01%0.95%
VOO
Vanguard S&P 500 ETF
1.66%-4.03%-15.79%-12.59%10.47%12.99%

Bill Bernstein No Brainer PortfolioSharpe Ratio Chart

The Sharpe ratio shows whether the portfolio's excess returns are due to smart investment decisions or a result of taking a higher risk. The higher a portfolio's Sharpe ratio, the better its risk-adjusted performance.

The current Bill Bernstein No Brainer Portfolio Sharpe ratio is -0.62. A negative Sharpe ratio means that the risk-free rate is higher than the portfolio's return. This value does not convey any meaningful information.

The chart below displays rolling 12-month Sharpe Ratio.


-1.20-1.00-0.80-0.60-0.40-0.200.00JulyAugustSeptemberOctoberNovember
-0.71
-0.63
Bill Bernstein No Brainer Portfolio
Benchmark (^GSPC)
Portfolio components

Bill Bernstein No Brainer PortfolioDividends

Bill Bernstein No Brainer Portfolio granted a 2.29% dividend yield in the last twelve months.


PeriodTTM202120202019201820172016201520142013201220112010

Dividend yield

2.29%1.93%1.80%2.39%2.69%2.35%2.59%2.65%2.93%2.62%3.21%3.40%2.87%

Bill Bernstein No Brainer PortfolioDrawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way.


-25.00%-20.00%-15.00%-10.00%-5.00%0.00%2022FebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovember
-15.70%
-17.49%
Bill Bernstein No Brainer Portfolio
Benchmark (^GSPC)
Portfolio components

Bill Bernstein No Brainer PortfolioWorst Drawdowns

The table below shows the maximum drawdowns of the Bill Bernstein No Brainer 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 No Brainer Portfolio is 27.91%, recorded on Mar 23, 2020. It took 99 trading sessions for the portfolio to recover.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-27.91%Feb 13, 202027Mar 23, 202099Aug 12, 2020126
-23.68%Nov 9, 2021235Oct 14, 2022
-17.46%May 2, 2011108Oct 3, 2011114Mar 16, 2012222
-14.96%Aug 30, 201880Dec 24, 201875Apr 12, 2019155
-13.97%May 22, 2015183Feb 11, 2016117Jul 29, 2016300
-8.85%Mar 27, 201247Jun 1, 201267Sep 6, 2012114
-7.61%Jan 29, 20189Feb 8, 2018138Aug 27, 2018147
-6.92%Jul 7, 201470Oct 13, 201432Nov 26, 2014102
-6.45%May 22, 201323Jun 24, 201317Jul 18, 201340
-5.82%Sep 3, 202015Sep 24, 202012Oct 12, 202027

Bill Bernstein No Brainer PortfolioVolatility Chart

Current Bill Bernstein No Brainer Portfolio volatility is 6.33%. 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.


10.00%15.00%20.00%25.00%30.00%35.00%JulyAugustSeptemberOctoberNovember
11.71%
13.39%
Bill Bernstein No Brainer Portfolio
Benchmark (^GSPC)
Portfolio components