Global Permanent Portfolio

Performance

Risk-Adjusted Performance

Dividends

Drawdowns

Volatility

Diversification

Global Permanent Portfolio

Currency in USD · Last updated May 14, 2025

Asset Allocation

Position	Category/Sector	Target Weight
BIL SPDR Barclays 1-3 Month T-Bill ETF	Government Bonds	8.34%
BTC-USD Bitcoin		5%
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc)	European Government Bonds	8.34%
ERNS.L iShares £ Ultrashort Bond UCITS ETF	Total Bond Market	8.33%
IAU iShares Gold Trust	Precious Metals, Gold	20%
IEFA iShares Core MSCI EAFE ETF	Foreign Large Cap Equities	12.50%
IGLT.L iShares Core UK Gilts UCITS ETF	Government Bonds	8.33%
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist)	European Government Bonds	8.33%
TLT iShares 20+ Year Treasury Bond ETF	Government Bonds	8.33%
VTI Vanguard Total Stock Market ETF	Large Cap Growth Equities	12.50%

Benchmark

Rebalance

Performance

Performance Chart

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The earliest data available for this chart is Oct 21, 2013, corresponding to the inception date of ERNS.L

Returns By Period

As of May 14, 2025, the Global Permanent Portfolio returned 9.96% Year-To-Date and 10.69% of annualized return in the last 10 years.

	YTD	1M	6M	1Y	5Y*	10Y*
^GSPC S&P 500	0.19%	9.00%	-1.55%	12.31%	15.59%	10.78%
Global Permanent Portfolio	9.37%	2.67%	9.08%	16.10%	10.92%	10.62%
Portfolio components:
VTI Vanguard Total Stock Market ETF	0.21%	9.56%	-1.64%	13.05%	16.73%	12.06%
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist)	6.95%	-2.40%	5.81%	6.33%	8.76%	4.89%
IAU iShares Gold Trust	21.13%	-1.02%	23.42%	34.55%	12.45%	9.73%
TLT iShares 20+ Year Treasury Bond ETF	-0.93%	-2.14%	-2.94%	-2.17%	-10.12%	-0.96%
BIL SPDR Barclays 1-3 Month T-Bill ETF	1.51%	0.33%	2.11%	4.75%	2.57%	1.77%
IGLT.L iShares Core UK Gilts UCITS ETF	6.53%	0.27%	4.71%	5.51%	-4.57%	-2.19%
IEFA iShares Core MSCI EAFE ETF	13.87%	7.86%	12.88%	10.00%	12.35%	5.52%
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc)	9.11%	-1.56%	7.79%	7.92%	1.33%	0.10%
ERNS.L iShares £ Ultrashort Bond UCITS ETF	7.82%	1.08%	7.05%	10.77%	4.74%	0.09%
BTC-USD Bitcoin	11.50%	23.22%	15.00%	69.24%	61.98%	83.77%

*Annualized

Monthly Returns

The table below presents the monthly returns of Global Permanent Portfolio, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2025	2.78%	0.49%	2.03%	3.91%	-0.13%								9.37%
2024	-0.95%	2.86%	4.01%	-2.28%	3.06%	-0.20%	3.09%	1.66%	2.65%	-1.05%	2.18%	-2.60%	12.85%
2023	6.73%	-3.52%	5.62%	1.40%	-2.18%	2.21%	1.33%	-2.10%	-3.86%	1.84%	5.72%	4.42%	18.23%
2022	-2.57%	0.62%	-0.49%	-6.13%	-1.46%	-5.25%	3.99%	-5.14%	-5.82%	2.00%	6.07%	-0.93%	-14.85%
2021	0.52%	0.66%	1.92%	2.24%	1.04%	-2.01%	3.45%	0.88%	-3.40%	4.20%	-1.56%	0.14%	8.11%
2020	2.84%	-2.39%	-4.87%	6.19%	2.40%	1.41%	6.56%	1.39%	-2.50%	0.25%	5.81%	7.51%	26.50%
2019	2.81%	1.15%	0.72%	1.91%	3.04%	7.10%	-1.10%	2.21%	-0.79%	2.71%	-1.44%	1.72%	21.63%
2018	1.42%	-2.50%	-0.47%	0.82%	-2.33%	-1.61%	1.14%	-1.09%	-0.61%	-2.66%	-1.35%	-0.01%	-8.96%
2017	2.15%	2.21%	0.16%	3.18%	5.61%	1.13%	2.63%	4.66%	-0.86%	2.63%	5.74%	4.42%	39.07%
2016	-0.61%	2.87%	2.42%	1.89%	-0.41%	2.91%	1.39%	-0.91%	0.22%	-2.52%	-2.13%	2.13%	7.30%
2015	-0.45%	0.22%	-1.95%	1.11%	-0.45%	-0.24%	0.02%	-2.07%	-1.10%	3.97%	-0.99%	0.29%	-1.75%
2014	0.55%	1.64%	-1.23%	0.78%	1.80%	2.17%	-2.09%	-0.01%	-4.00%	-0.93%	0.90%	-0.93%	-1.52%

Expense Ratio

Global Permanent Portfolio has an expense ratio of 0.12%, 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.

IAU

iShares Gold Trust

TLT

iShares 20+ Year Treasury Bond ETF

CE31.L

iShares Euro Government Bond 1-3yr UCITS ETF (Acc)

BIL

SPDR Barclays 1-3 Month T-Bill ETF

SEGA.L

iShares Core Euro Government Bond UCITS ETF (Dist)

ERNS.L

iShares £ Ultrashort Bond UCITS ETF

IGLT.L

iShares Core UK Gilts UCITS ETF

IEFA

iShares Core MSCI EAFE ETF

VTI

Vanguard Total Stock Market ETF

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 89, Global Permanent Portfolio is among the top 11% of portfolios on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

This table presents a comparison of risk-adjusted performance metrics for positions. Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Portfolio components

	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
VTI Vanguard Total Stock Market ETF	0.58	0.90	1.13	0.13	1.97
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist)	0.52	0.20	1.02	0.01	0.17
IAU iShares Gold Trust	1.86	2.96	1.38	1.77	12.15
TLT iShares 20+ Year Treasury Bond ETF	-0.24	-1.61	0.82	-0.03	-1.74
BIL SPDR Barclays 1-3 Month T-Bill ETF	16.69	234.49	135.50	58.55	4,578.77
IGLT.L iShares Core UK Gilts UCITS ETF	0.36	-0.42	0.95	-0.03	-0.52
IEFA iShares Core MSCI EAFE ETF	0.51	0.96	1.13	0.16	1.96
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc)	0.89	0.90	1.11	0.03	1.09
ERNS.L iShares £ Ultrashort Bond UCITS ETF	1.32	1.08	1.13	0.06	1.58
BTC-USD Bitcoin	1.14	3.33	1.35	2.83	12.95

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Global Permanent Portfolio Sharpe ratios as of May 14, 2025 (values are recalculated daily):

1-Year: 1.58
5-Year: 1.12
10-Year: 1.14
All Time: 1.04

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

Compared to the broad market, where average Sharpe ratios range from 0.59 to 1.09, this portfolio's current Sharpe ratio is in the top 25%. This signifies superior risk-adjusted performance, meaning the portfolio is delivering strong returns for the level of risk taken compared to most others.

The chart below shows the rolling Sharpe ratio of Global Permanent Portfolio compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.

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Dividends

Dividend yield

Global Permanent Portfolio provided a 10.38% dividend yield over the last twelve months.

	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Portfolio	10.38%	17.25%	9.94%	3.26%	2.85%	4.48%	6.81%	6.63%	6.67%	8.25%	1.08%	1.19%
Portfolio components:
VTI Vanguard Total Stock Market ETF	1.30%	1.27%	1.44%	1.67%	1.21%	1.42%	1.78%	2.04%	1.71%	1.92%	1.98%	1.76%
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist)	97.86%	181.55%	97.13%	26.13%	24.90%	45.31%	67.74%	65.00%	68.68%	86.40%	0.60%	1.74%
IAU iShares Gold Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TLT iShares 20+ Year Treasury Bond ETF	4.44%	4.30%	3.38%	2.67%	1.50%	1.50%	2.27%	2.63%	2.43%	2.60%	2.61%	2.67%
BIL SPDR Barclays 1-3 Month T-Bill ETF	4.69%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%	0.00%	0.00%
IGLT.L iShares Core UK Gilts UCITS ETF	5.74%	3.69%	2.40%	1.32%	0.79%	0.95%	1.25%	1.31%	1.30%	1.88%	2.05%	2.04%
IEFA iShares Core MSCI EAFE ETF	3.05%	3.47%	3.20%	2.70%	3.32%	1.90%	3.18%	3.46%	2.57%	2.96%	2.63%	3.10%
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ERNS.L iShares £ Ultrashort Bond UCITS ETF	5.33%	5.42%	4.54%	1.14%	0.28%	0.75%	1.04%	0.74%	0.52%	0.81%	0.72%	0.55%
BTC-USD Bitcoin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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 Global Permanent 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 Global Permanent Portfolio was 25.01%, occurring on Sep 27, 2022. Recovery took 523 trading sessions.

The current Global Permanent Portfolio drawdown is 0.67%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-25.01%	Nov 10, 2021	322	Sep 27, 2022	523	Mar 3, 2024	845
-15.5%	Feb 24, 2020	24	Mar 18, 2020	75	Jun 1, 2020	99
-14.69%	Dec 17, 2017	370	Dec 21, 2018	182	Jun 21, 2019	552
-14.07%	Nov 30, 2013	644	Sep 4, 2015	577	Apr 3, 2017	1221
-5.06%	Sep 7, 2021	23	Sep 29, 2021	37	Nov 5, 2021	60

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 10 assets, with an effective number of assets of 8.66, reflecting the diversification based on asset allocation. This number of effective assets indicates a moderate level of diversification, where some assets may have a more significant influence on overall performance.

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

	^GSPC	BIL	BTC-USD	TLT	IAU	VTI	ERNS.L	IGLT.L	CE31.L	IEFA	SEGA.L	Portfolio
^GSPC	1.00	0.00	0.16	-0.18	-0.00	0.99	0.22	0.10	0.13	0.79	0.11	0.47
BIL	0.00	1.00	0.01	0.02	0.05	0.02	0.04	0.02	0.01	0.02	0.02	0.05
BTC-USD	0.16	0.01	1.00	-0.01	0.07	0.13	0.07	0.06	0.08	0.12	0.07	0.60
TLT	-0.18	0.02	-0.01	1.00	0.29	-0.16	0.03	0.40	0.14	-0.12	0.34	0.22
IAU	-0.00	0.05	0.07	0.29	1.00	0.01	0.30	0.34	0.34	0.13	0.37	0.50
VTI	0.99	0.02	0.13	-0.16	0.01	1.00	0.19	0.10	0.12	0.74	0.10	0.42
ERNS.L	0.22	0.04	0.07	0.03	0.30	0.19	1.00	0.63	0.57	0.37	0.48	0.48
IGLT.L	0.10	0.02	0.06	0.40	0.34	0.10	0.63	1.00	0.50	0.23	0.64	0.51
CE31.L	0.13	0.01	0.08	0.14	0.34	0.12	0.57	0.50	1.00	0.32	0.84	0.50
IEFA	0.79	0.02	0.12	-0.12	0.13	0.74	0.37	0.23	0.32	1.00	0.27	0.52
SEGA.L	0.11	0.02	0.07	0.34	0.37	0.10	0.48	0.64	0.84	0.27	1.00	0.53
Portfolio	0.47	0.05	0.60	0.22	0.50	0.42	0.48	0.51	0.50	0.52	0.53	1.00

The correlation results are calculated based on daily price changes starting from Oct 22, 2013

Performance Analysis

Risk Analysis

Optimization

Factor Model

Global Permanent Portfolio

Asset Allocation

Performance

Performance Chart

Returns By Period

Monthly Returns

Expense Ratio

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

Risk-Adjusted Performance Indicators

Dividends

Dividend yield

Drawdowns

Drawdowns Chart

Worst Drawdowns

Volatility

Volatility Chart

Diversification

Diversification Metrics

Number of Effective Assets

Asset Correlations Table

Performance Analysis

Risk Analysis

Optimization

Factor Model

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