Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
BAR GraniteShares Gold Trust | Gold, Precious Metals | 20% |
BNDW Vanguard Total World Bond ETF | Global Bonds | 20% |
SCHD Schwab U.S. Dividend Equity ETF | Dividend | 20% |
VT Vanguard Total World Stock ETF | Global Equities | 40% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Global TAZ Modified Permanent 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 year.
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The earliest data available for this chart is Sep 6, 2018, corresponding to the inception date of BNDW
Returns By Period
| 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.11% | -3.63% | -3.84% | -1.98% | 29.73% | 16.86% | 10.37% | 12.29% |
Portfolio Global TAZ Modified Permanent Portfolio | -0.45% | -3.22% | 3.77% | 7.82% | 30.48% | 16.79% | 10.21% | — |
| Portfolio components: | ||||||||
VT Vanguard Total World Stock ETF | -0.23% | -2.70% | -0.97% | 1.25% | 34.33% | 16.97% | 9.38% | 11.66% |
BNDW Vanguard Total World Bond ETF | 0.04% | -0.83% | 0.13% | 0.54% | 2.77% | 3.66% | 0.24% | — |
BAR GraniteShares Gold Trust | -1.92% | -7.92% | 8.33% | 20.18% | 53.74% | 32.80% | 21.79% | — |
SCHD Schwab U.S. Dividend Equity ETF | 0.16% | -1.41% | 12.35% | 13.59% | 25.56% | 11.70% | 8.35% | 12.30% |
Monthly Returns
Based on dividend-adjusted daily data since Sep 7, 2018, Global TAZ Modified Permanent Portfolio's average daily return is +0.05%, while the average monthly return is +0.93%. At this rate, your investment would double in approximately 6.2 years.
Historically, 70% of months were positive and 30% were negative. The best month was Apr 2020 with a return of +8.0%, while the worst month was Mar 2020 at -8.3%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 3 months.
On a daily basis, Global TAZ Modified Permanent Portfolio closed higher 56% of trading days. The best single day was Mar 24, 2020 with a return of +5.8%, while the worst single day was Mar 12, 2020 at -7.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.52% | 4.13% | -5.74% | 0.19% | 3.77% | ||||||||
| 2025 | 3.04% | 1.06% | 0.26% | 0.13% | 2.37% | 2.53% | 0.27% | 3.43% | 3.99% | 1.51% | 2.01% | 0.98% | 23.72% |
| 2024 | -0.34% | 2.09% | 4.12% | -2.12% | 2.79% | 0.76% | 3.55% | 2.06% | 2.41% | -0.20% | 2.07% | -3.05% | 14.80% |
| 2023 | 5.19% | -3.43% | 3.05% | 0.71% | -1.62% | 2.87% | 2.76% | -1.76% | -3.94% | -0.65% | 6.16% | 4.25% | 13.74% |
| 2022 | -3.06% | -0.46% | 1.10% | -5.09% | 0.27% | -5.38% | 3.35% | -3.39% | -6.43% | 4.11% | 7.00% | -2.15% | -10.54% |
| 2021 | -1.04% | 0.73% | 2.78% | 2.86% | 2.75% | -0.92% | 1.06% | 1.35% | -3.30% | 3.34% | -1.57% | 3.74% | 12.11% |
Benchmark Metrics
Global TAZ Modified Permanent Portfolio has an annualized alpha of 4.66%, beta of 0.53, and R² of 0.81 versus S&P 500 Index. Calculated based on daily prices since September 07, 2018.
- This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (63.94%) than losses (58.55%) — typical of diversified or defensive assets.
- This portfolio generated an annualized alpha of 4.66% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
- Beta of 0.53 indicates this portfolio moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 4.66%
- Beta
- 0.53
- R²
- 0.81
- Upside Capture
- 63.94%
- Downside Capture
- 58.55%
Expense Ratio
Global TAZ Modified Permanent Portfolio has an expense ratio of 0.08%, 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
Global TAZ Modified Permanent Portfolio ranks 83 for risk / return — in the top 83% of portfolios on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.88 | 0.88 | +1.00 |
Sortino ratioReturn per unit of downside risk | 2.60 | 1.37 | +1.23 |
Omega ratioGain probability vs. loss probability | 1.39 | 1.21 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 2.81 | 1.39 | +1.42 |
Martin ratioReturn relative to average drawdown | 11.09 | 6.43 | +4.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.
| Risk / Return Rank | Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio | |
|---|---|---|---|---|---|---|
VT Vanguard Total World Stock ETF | 66 | 1.24 | 1.83 | 1.27 | 1.86 | 8.47 |
BNDW Vanguard Total World Bond ETF | 43 | 0.98 | 1.38 | 1.17 | 1.25 | 4.55 |
BAR GraniteShares Gold Trust | 79 | 1.79 | 2.22 | 1.33 | 2.58 | 9.34 |
SCHD Schwab U.S. Dividend Equity ETF | 40 | 0.89 | 1.34 | 1.19 | 1.09 | 3.69 |
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Dividends
Dividend yield
Global TAZ Modified Permanent Portfolio provided a 2.25% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 2.25% | 2.32% | 2.29% | 2.28% | 1.96% | 1.80% | 1.61% | 2.13% | 1.96% | 1.37% | 1.53% | 1.58% |
| Portfolio components: | ||||||||||||
VT Vanguard Total World Stock ETF | 1.80% | 1.82% | 1.95% | 2.08% | 2.20% | 1.82% | 1.66% | 2.32% | 2.53% | 2.11% | 2.39% | 2.45% |
BNDW Vanguard Total World Bond ETF | 4.18% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% | 0.00% | 0.00% | 0.00% |
BAR GraniteShares 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% |
SCHD Schwab U.S. Dividend Equity ETF | 3.45% | 3.82% | 3.64% | 3.49% | 3.39% | 2.78% | 3.16% | 2.98% | 3.06% | 2.63% | 2.89% | 2.97% |
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 TAZ Modified 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 TAZ Modified Permanent Portfolio was 21.41%, occurring on Mar 20, 2020. Recovery took 84 trading sessions.
The current Global TAZ Modified Permanent Portfolio drawdown is 5.60%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -21.41% | Feb 20, 2020 | 22 | Mar 20, 2020 | 84 | Jul 21, 2020 | 106 |
| -18.26% | Jan 5, 2022 | 196 | Oct 14, 2022 | 293 | Dec 14, 2023 | 489 |
| -9.32% | Sep 21, 2018 | 65 | Dec 24, 2018 | 36 | Feb 15, 2019 | 101 |
| -8.69% | Feb 21, 2025 | 33 | Apr 8, 2025 | 18 | May 5, 2025 | 51 |
| -7.78% | Mar 3, 2026 | 18 | Mar 26, 2026 | — | — | — |
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 4 assets, with an effective number of assets of 3.57, reflecting the diversification based on asset allocation. This number of effective assets suggests a highly concentrated portfolio, where a few assets dominate the allocation, potentially increasing the portfolio's risk due to lack of diversification.
Asset Correlations Table
| Benchmark | BNDW | BAR | SCHD | VT | Portfolio | |
|---|---|---|---|---|---|---|
| Benchmark | 1.00 | 0.08 | 0.06 | 0.76 | 0.96 | 0.85 |
| BNDW | 0.08 | 1.00 | 0.33 | 0.04 | 0.10 | 0.24 |
| BAR | 0.06 | 0.33 | 1.00 | 0.05 | 0.13 | 0.44 |
| SCHD | 0.76 | 0.04 | 0.05 | 1.00 | 0.77 | 0.79 |
| VT | 0.96 | 0.10 | 0.13 | 0.77 | 1.00 | 0.90 |
| Portfolio | 0.85 | 0.24 | 0.44 | 0.79 | 0.90 | 1.00 |