Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
VTI Vanguard Total Stock Market ETF | Large Cap Blend Equities | 50% |
VEA Vanguard FTSE Developed Markets ETF | Foreign Large Cap Equities | 30% |
BND Vanguard Total Bond Market ETF | Total Bond Market | 15% |
BNDX Vanguard Total International Bond ETF | Global Bonds | 5% |
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 Bogleheads Four-fund 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 Aug 3, 2026, the Bogleheads Four-fund Portfolio returned 9.45% Year-To-Date and 10.82% 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 Bogleheads Four-fund Portfolio | 0.02% | -0.38% | 6.63% | 9.45% | 20.02% | 15.81% | 8.90% | 10.82% | 9.91% |
| 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% |
BNDX Vanguard Total International Bond ETF | -0.23% | -0.97% | -0.29% | 0.22% | 0.83% | 4.00% | -0.07% | 1.51% | 2.25% |
VEA Vanguard FTSE Developed Markets ETF | -0.66% | -0.27% | 7.42% | 13.84% | 29.71% | 18.08% | 9.76% | 10.05% | 5.13% |
VTI Vanguard Total Stock Market ETF | 0.53% | -0.15% | 8.77% | 10.49% | 21.84% | 18.92% | 11.74% | 14.63% | 9.58% |
Monthly Returns
Based on dividend-adjusted daily data since Jun 4, 2013, Bogleheads Four-fund Portfolio's average daily return is +0.04%, while the average monthly return is +0.85%. At this rate, an investment would double in approximately 6.8 years.
Historically, 68% of months were positive and 32% were negative. The best month was Nov 2020 with a return of +10.4%, while the worst month was Mar 2020 at -11.6%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 3 months.
On a daily basis, Bogleheads Four-fund Portfolio closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +7.2%, while the worst single day was Mar 12, 2020 at -8.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.64% | 1.94% | -5.54% | 7.48% | 4.05% | -0.23% | -0.76% | 9.45% | |||||
| 2025 | 2.95% | 0.11% | -2.90% | 0.97% | 4.56% | 3.87% | 0.69% | 2.67% | 2.68% | 1.78% | 0.50% | 0.88% | 20.19% |
| 2024 | 0.18% | 3.25% | 2.93% | -3.63% | 4.03% | 1.21% | 2.31% | 2.18% | 1.60% | -2.31% | 3.77% | -2.85% | 13.00% |
| 2023 | 6.78% | -2.72% | 2.68% | 1.43% | -1.08% | 4.68% | 2.75% | -2.25% | -4.01% | -2.57% | 8.19% | 5.02% | 19.56% |
| 2022 | -4.56% | -2.26% | 1.26% | -7.34% | 0.47% | -7.16% | 6.77% | -4.21% | -8.35% | 5.72% | 7.05% | -3.84% | -16.72% |
| 2021 | -0.54% | 1.99% | 2.49% | 3.56% | 1.32% | 1.12% | 1.27% | 1.78% | -3.47% | 4.29% | -2.05% | 3.12% | 15.61% |
Benchmark Metrics
Bogleheads Four-fund Portfolio has an annualized alpha of 0.51%, beta of 0.76, and R2 of 0.94 versus S&P 500 Index. Calculated based on daily prices since June 04, 2013.
- This portfolio participated in 82.61% of S&P 500 Index downside but only 77.26% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- 0.51%
- Beta
- 0.76
- R²
- 0.94
- Upside Capture
- 77.26%
- Downside Capture
- 82.61%
Expense Ratio
Bogleheads Four-fund 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
Bogleheads Four-fund Portfolio ranks 54 for risk / return — above 54% 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 Bogleheads Four-fund 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 | 1.65 | 1.42 | +0.24 |
| Sortino ratioReturn per unit of downside risk | 2.34 | 1.98 | +0.36 |
| Omega ratioGain probability vs. loss probability | 1.30 | 1.25 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.00 | +0.33 |
| Martin ratioReturn relative to average drawdown | 9.85 | 8.49 | +1.35 |
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 |
BNDX Vanguard Total International Bond ETF | 18 | 0.34 | 0.50 | 1.06 | 0.41 | 1.04 |
VEA Vanguard FTSE Developed Markets ETF | 73 | 1.71 | 2.37 | 1.31 | 2.53 | 9.44 |
VTI Vanguard Total Stock Market ETF | 65 | 1.52 | 2.12 | 1.27 | 2.23 | 9.62 |
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Dividends
Dividend yield
Bogleheads Four-fund Portfolio provided a 2.07% dividend yield over the last twelve months.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 2.07% | 2.32% | 2.40% | 2.35% | 2.17% | 2.06% | 1.74% | 2.38% | 2.60% | 2.18% | 2.35% | 2.33% |
| 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% |
BNDX Vanguard Total International Bond ETF | 4.31% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
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% |
VTI Vanguard Total Stock Market ETF | 1.06% | 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 Bogleheads Four-fund 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 Bogleheads Four-fund Portfolio was 28.24%, occurring on Mar 23, 2020. Recovery took 99 trading sessions.
The current Bogleheads Four-fund Portfolio drawdown is 1.46%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-28.24%Mar 2020 | 1mo 9d | 4mo 22d | 6mo 1dFeb 2020 - Aug 2020 | COVID crash2020 |
-24.36%Oct 2022 | 11mo 7d | 1y 3mo | 2y 2moNov 2021 - Feb 2024 | Bear market2022 |
-15.13%Dec 2018 | 10mo 29d | 3mo 19d | 1y 2moJan 2018 - Apr 2019 | Rate-hike selloffLate 2018 |
-13.80%Feb 2016 | 8mo 25d | 5mo 19d | 1y 2moMay 2015 - Jul 2016 | — |
-13.02%Apr 2025 | 1mo 18d | 1mo 7d | 2mo 25dFeb 2025 - May 2025 | 2025 selloff2025 |
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 conventional global 60/20/20-ish mix: U.S. and foreign equities, with bonds supplying the ballast. The ballast exists, but the equity and bond sleeves each behave like one position.
The numbers
- Diversification ratio is 1.08–1.11, only the 12th–26th percentile across platform portfolios: modest benefit, not much correlation magic.
- Effective asset count is 2.74 of 4, reflecting two dominant clusters rather than four independent risks.
- Vanguard Total Stock Market ETF (VTI) and Vanguard FTSE Developed Markets ETF (VEA) correlate at 0.81; Vanguard Total Bond Market ETF (BND) and Vanguard Total International Bond ETF (BNDX) at 0.73.
The good
- The portfolio has genuine cross-asset structure: equities and bonds have near-zero measured correlation, especially VTI with BNDX at 0.02.
- The 20% bond allocation is meaningful enough to affect portfolio behavior rather than decorate it.
The bad
- VTI and VEA account for 80% of the portfolio and largely express one global equity risk.
- BND and BNDX diversify geography more than behavior; both remain bond-market exposure.
The ugly
- A global equity selloff can pull VTI and VEA together, while rising rates can pressure both bond sleeves. The four tickers then become two trades.
Next steps
- Portfolios with this profile are typically complemented by exposures whose drivers sit outside both equity and duration risk.
Diversification Metrics
Number of Effective Assets
The portfolio contains 4 assets, with an effective number of assets of 2.74, reflecting the diversification based on asset allocation. Your allocation shows noticeable concentration: a few holdings carry significantly more weight than the rest.
Diversification Ratio
1Y | 3Y | 5Y | 10Y | All Time | |
|---|---|---|---|---|---|
Diversification Ratio | 1.08 | 1.11 | 1.11 | 1.09 | 1.09 |
The portfolio has a diversification ratio of 1.09, placing it in the bottom quartile across portfolios. The holdings provided limited volatility reduction when combined.
Bogleheads Four-fund Portfolio correlation to the S&P 500 Index
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.96 |
Benchmark Correlations
Correlation vs. S&P 500 Index. VTI has the highest benchmark correlation at 0.99, while BND has the lowest at -0.00.
Asset Correlations Table
Find what Bogleheads Four-fund Portfolio is missing
See which holdings overlap, where Bogleheads Four-fund Portfolio is concentrated, and which low-correlation assets could fill the gaps.
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