Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
BND Vanguard Total Bond Market ETF | Total Bond Market | 25% |
VEA Vanguard FTSE Developed Markets ETF | Foreign Large Cap Equities | 25% |
VB Vanguard Small-Cap ETF | Small Cap Blend Equities | 25% |
VOO Vanguard S&P 500 ETF | S&P 500 | 25% |
Benchmark: S&P 500 Index · Rebalance: Every 3 months
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Performance Chart
The chart shows the growth of an initial investment of $10,000 in Bill Bernstein No Brainer 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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Compare your portfolio against anything
Returns By Period
As of Aug 2, 2026, the Bill Bernstein No Brainer Portfolio returned 9.76% Year-To-Date and 9.72% of annualized return in the last 10 years.
| Position | 1D | 1M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* | ALL TIME* |
|---|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.70% | 0.09% | 7.94% | 9.41% | 20.07% | 17.84% | 11.25% | 13.26% | 8.09% |
Portfolio Bill Bernstein No Brainer Portfolio | -0.11% | -0.73% | 6.50% | 9.76% | 19.57% | 14.00% | 7.58% | 9.72% | 9.65% |
| Portfolio components: | |||||||||
BND Vanguard Total Bond Market ETF | -0.26% | -1.20% | -0.75% | -0.54% | 1.75% | 3.92% | -0.42% | 1.36% | 2.99% |
VB Vanguard Small-Cap ETF | -0.22% | -1.73% | 10.09% | 15.19% | 25.91% | 14.02% | 7.45% | 11.08% | 9.88% |
VEA Vanguard FTSE Developed Markets ETF | -0.66% | -0.27% | 7.42% | 13.84% | 29.71% | 18.08% | 9.76% | 10.05% | 5.13% |
VOO Vanguard S&P 500 ETF | 0.71% | 0.26% | 8.58% | 10.16% | 21.58% | 19.42% | 12.83% | 15.14% | 14.78% |
Monthly Returns
Based on dividend-adjusted daily data since Sep 9, 2010, Bill Bernstein No Brainer Portfolio's average daily return is +0.04%, while the average monthly return is +0.83%. At this rate, an investment would double in approximately 7.0 years.
Historically, 68% of months were positive and 32% were negative. The best month was Nov 2020 with a return of +10.6%, while the worst month was Mar 2020 at -12.3%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 5 months.
On a daily basis, Bill Bernstein No Brainer Portfolio closed higher 55% of trading days. The best single day was Mar 13, 2020 with a return of +6.7%, while the worst single day was Mar 12, 2020 at -9.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.06% | 2.44% | -5.20% | 6.70% | 3.36% | 0.64% | -1.20% | 9.76% | |||||
| 2025 | 2.91% | -0.43% | -2.88% | 0.26% | 4.07% | 3.59% | 0.64% | 3.04% | 2.06% | 1.26% | 0.81% | 0.76% | 17.09% |
| 2024 | -0.58% | 3.08% | 3.07% | -4.08% | 3.83% | 0.34% | 3.40% | 1.67% | 1.62% | -2.30% | 4.55% | -3.81% | 10.79% |
| 2023 | 7.20% | -2.74% | 1.30% | 0.90% | -1.60% | 4.86% | 2.82% | -2.50% | -4.16% | -3.23% | 7.91% | 5.99% | 16.93% |
| 2022 | -4.76% | -1.49% | 0.75% | -6.93% | 0.68% | -7.06% | 6.85% | -3.83% | -8.23% | 5.72% | 6.55% | -3.68% | -15.77% |
| 2021 | -0.15% | 2.48% | 1.99% | 3.29% | 1.11% | 0.92% | 0.66% | 1.51% | -3.06% | 3.81% | -2.37% | 3.01% | 13.74% |
Benchmark Metrics
Bill Bernstein No Brainer Portfolio has an annualized alpha of 0.04%, beta of 0.74, and R2 of 0.92 versus S&P 500 Index. Calculated based on daily prices since September 09, 2010.
- This portfolio participated in 82.68% of S&P 500 Index downside but only 74.57% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- 0.04%
- Beta
- 0.74
- R²
- 0.92
- Upside Capture
- 74.57%
- Downside Capture
- 82.68%
Expense Ratio
Bill Bernstein No Brainer Portfolio has an expense ratio of 0.03%, 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.
Return for Risk
Risk / Return Rank
Bill Bernstein No Brainer Portfolio ranks 57 for risk / return — above 57% of Portfolios peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below presents risk-adjusted performance metrics for Bill Bernstein No Brainer 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 | 1.66 | 1.42 | +0.24 |
| Sortino ratioReturn per unit of downside risk | 2.38 | 1.98 | +0.40 |
| Omega ratioGain probability vs. loss probability | 1.30 | 1.25 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 2.00 | +0.43 |
| Martin ratioReturn relative to average drawdown | 10.08 | 8.49 | +1.59 |
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 |
|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 29 | 0.72 | 1.06 | 1.12 | 0.99 | 2.48 |
VB Vanguard Small-Cap ETF | 67 | 1.46 | 2.13 | 1.26 | 2.67 | 9.73 |
VEA Vanguard FTSE Developed Markets ETF | 73 | 1.71 | 2.37 | 1.31 | 2.53 | 9.44 |
VOO Vanguard S&P 500 ETF | 66 | 1.53 | 2.13 | 1.28 | 2.21 | 9.44 |
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Dividends
Dividend yield
Bill Bernstein No Brainer Portfolio provided a 2.14% dividend yield over the last twelve months.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 2.14% | 2.38% | 2.39% | 2.31% | 2.20% | 1.94% | 1.78% | 2.26% | 2.47% | 2.11% | 2.27% | 2.27% |
| Portfolio components: | ||||||||||||
BND Vanguard Total Bond Market ETF | 3.69% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
VB Vanguard Small-Cap ETF | 1.22% | 1.33% | 1.30% | 1.55% | 1.59% | 1.24% | 1.14% | 1.39% | 1.67% | 1.35% | 1.50% | 1.48% |
VEA Vanguard FTSE Developed Markets ETF | 2.57% | 3.22% | 3.35% | 3.15% | 2.91% | 3.16% | 2.04% | 3.04% | 3.35% | 2.77% | 3.05% | 2.92% |
VOO Vanguard S&P 500 ETF | 1.07% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
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 Bill Bernstein No Brainer 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 Bill Bernstein No Brainer Portfolio was 27.91%, occurring on Mar 23, 2020. Recovery took 99 trading sessions.
The current Bill Bernstein No Brainer Portfolio drawdown is 1.44%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-27.91%Mar 2020 | 1mo 9d | 4mo 22d | 6mo 1dFeb 2020 - Aug 2020 | COVID crash2020 |
-23.65%Oct 2022 | 11mo 9d | 1y 4mo | 2y 3moNov 2021 - Mar 2024 | Bear market2022 |
-17.46%Oct 2011 | 5mo 4d | 5mo 15d | 10mo 19dMay 2011 - Mar 2012 | — |
-14.96%Dec 2018 | 3mo 26d | 3mo 19d | 7mo 15dAug 2018 - Apr 2019 | Rate-hike selloffLate 2018 |
-13.97%Feb 2016 | 8mo 25d | 5mo 19d | 1y 2moMay 2015 - Jul 2016 | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Diversification
AI Analysis
The gist
This portfolio is a plain-vanilla bet on global equities plus a bond sleeve: VEA (Foreign Large Cap Equities), VB (Small Cap Blend Equities), and VOO (S&P 500) move together much more than the labels suggest, while BND (Total Bond Market) is the actual diversifier.
The numbers
- Diversification ratio is 1.12 over 1Y and 1.13–1.14 over longer windows, around the 19th–33rd percentile on the platform; that is modest diversification, not much more.
- Effective asset count is 4.0 of 4, so the weights are cleanly spread; the issue is correlation, not concentration.
- The main equity cluster is tight: VB & VOO at 0.87, VEA & VOO at 0.82, with BND nearly standalone against them at -0.07 to -0.02 versus equities.
The good
- BND is doing real work here. Its near-zero correlation with the equity sleeve is the main reason the portfolio has any diversification benefit at all.
- The four-way split is structurally simple and transparent, which is often a virtue when the correlations are this plain.
The bad
- VEA, VB, and VOO form one equity block, with position-to-portfolio correlations of 0.91–0.94; in practice this is one large equity bet in three wrappers.
- The diversification ratio sits in the low end of the platform distribution, so the portfolio looks more balanced than diversified.
The ugly
- In an equity drawdown driven by global risk aversion, foreign developed stocks, U.S. small caps, and the S&P 500 would likely fall together, leaving BND as the only meaningful offset.
Next steps
- Portfolios with this correlation profile are typically paired with exposures whose return drivers sit outside the equity rate cycle, because BND is the only sleeve with genuinely different behavior.
- The data fits a portfolio expressing a view on equities and a separate stabilizer, rather than four independent bets.
Diversification Metrics
Number of Effective Assets
The portfolio contains 4 assets, with an effective number of assets of 4.00, reflecting the diversification based on asset allocation. Your capital is spread almost evenly across your holdings, indicating a well-balanced allocation. Note that true diversification also depends on the correlations between assets — check the diversification ratio below.
Diversification Ratio
1Y | 3Y | 5Y | 10Y | All Time | |
|---|---|---|---|---|---|
Diversification Ratio | 1.12 | 1.14 | 1.14 | 1.12 | 1.13 |
The portfolio has a diversification ratio of 1.13, placing it in the bottom quartile across portfolios. The holdings provided limited volatility reduction when combined.
Bill Bernstein No Brainer Portfolio correlation to the S&P 500 Index
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.94 |
Benchmark Correlations
Correlation vs. S&P 500 Index. VOO has the highest benchmark correlation at 1.00, while BND has the lowest at -0.07.
Asset Correlations Table
Find what Bill Bernstein No Brainer Portfolio is missing
See which holdings overlap, where Bill Bernstein No Brainer Portfolio is concentrated, and which low-correlation assets could fill the gaps.
Analyze Diversification