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Bogleheads Four-fund Portfolio

Last updated Nov 29, 2022

The Bogleheads Four-fund Portfolio is the extension of the Bogleheads Three-fund Portfolio with the addition of international bonds. It uses four fundamental asset classes: a U.S total stock market fund, a total international stock market fund, a total bond market fund, and a total international bond market. The portfolio could be replicated using four low-cost ETFs.

Expense Ratio

Rank 18 of 54

Dividend Yield

Rank 18 of 54

10Y Annualized Return

Rank 26 of 54

Sharpe Ratio

Rank 20 of 54

Maximum Drawdown

Rank 28 of 54


Bogleheads Four-fund PortfolioAsset Allocation

Bogleheads Four-fund PortfolioPerformance

The chart shows the growth of $10,000 invested in Bogleheads Four-fund Portfolio in Jun 2013 and compares it to the S&P 500 index or another benchmark. It would be worth nearly $19,883 for a total return of roughly 98.83%. All prices are adjusted for splits and dividends. The portfolio is rebalanced Quarterly

Bogleheads Four-fund Portfolio
Benchmark (^GSPC)
Portfolio components

Bogleheads Four-fund PortfolioReturns

As of Nov 29, 2022, the Bogleheads Four-fund Portfolio returned -16.09% Year-To-Date and 8.00% of annualized return in the last 10 years.

Bogleheads Four-fund Portfolio4.12%-4.26%-15.24%-13.20%5.86%7.52%
Vanguard Total Stock Market ETF
Vanguard Total Bond Market ETF
Vanguard FTSE Developed Markets ETF
Vanguard Total International Bond ETF

Bogleheads Four-fund 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 Bogleheads Four-fund Portfolio Sharpe ratio is -0.66. 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.

Bogleheads Four-fund Portfolio
Benchmark (^GSPC)
Portfolio components

Bogleheads Four-fund PortfolioDividends

Bogleheads Four-fund Portfolio granted a 2.43% dividend yield in the last twelve months.


Dividend yield


Bogleheads Four-fund PortfolioDrawdowns Chart

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

Bogleheads Four-fund Portfolio
Benchmark (^GSPC)
Portfolio components

Bogleheads Four-fund PortfolioWorst Drawdowns

The table below shows the maximum drawdowns of the Bogleheads Four-fund 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 Bogleheads Four-fund Portfolio is 28.24%, recorded on Mar 23, 2020. It took 99 trading sessions for the portfolio to recover.



To Bottom


To Recover



-28.24%Feb 13, 202027Mar 23, 202099Aug 12, 2020126
-24.38%Nov 9, 2021233Oct 12, 2022
-15.13%Jan 29, 2018229Dec 24, 201875Apr 12, 2019304
-13.8%May 22, 2015183Feb 11, 2016117Jul 29, 2016300
-6.87%Jul 7, 201473Oct 16, 201427Nov 24, 2014100
-6.21%Sep 3, 202014Sep 23, 202033Nov 9, 202047
-4.8%Jun 19, 20134Jun 24, 201312Jul 11, 201316
-4.77%Jul 25, 201915Aug 14, 201945Oct 17, 201960
-4.75%Jan 23, 20148Feb 3, 201410Feb 18, 201418
-4.61%May 6, 201919May 31, 201913Jun 19, 201932

Bogleheads Four-fund PortfolioVolatility Chart

Current Bogleheads Four-fund 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.

Bogleheads Four-fund Portfolio
Benchmark (^GSPC)
Portfolio components