Ray Dalio's 4 Quadrants

Asset Allocation

Position	Category/Sector	Target Weight
BND Vanguard Total Bond Market ETF	Total Bond Market	25%
SGOL abrdn Physical Gold Shares ETF	Gold, Precious Metals	25%
VGT Vanguard Information Technology ETF	Technology Equities	25%
IXC iShares Global Energy ETF	Energy Equities	8.33%
ICLN iShares Global Clean Energy ETF	Alternative Energy Equities, Energy Equities	8.33%
NLR VanEck Uranium and Nuclear ETF	Uranium, Alternative Energy Equities, Energy Equities	8.33%

Benchmark

S&P 500 Index

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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Ray Dalio's 4 Quadrants, 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 Jul 26, 2026, the Ray Dalio's 4 Quadrants returned 7.78% Year-To-Date and 13.01% of annualized return in the last 10 years.

Position	1D	1M	6M	YTD	1Y	3Y*	5Y*	10Y*	ALL TIME*
Benchmark S&P 500 Index	0.05%	0.74%	7.18%	8.28%	16.02%	17.51%	10.93%	13.07%	8.07%
Portfolio Ray Dalio's 4 Quadrants	-0.67%	-1.34%	0.18%	7.78%	21.72%	19.39%	13.06%	13.01%	10.01%
Portfolio components:
BND Vanguard Total Bond Market ETF	0.08%	-1.42%	-0.67%	-0.43%	2.86%	3.74%	-0.35%	1.39%	3.00%
ICLN iShares Global Clean Energy ETF	-3.21%	-12.37%	-2.42%	8.51%	28.61%	-0.23%	-3.38%	8.54%	-3.87%
IXC iShares Global Energy ETF	0.13%	11.29%	23.33%	34.16%	42.55%	16.45%	22.71%	10.11%	8.51%
NLR VanEck Uranium and Nuclear ETF	-2.97%	-7.91%	-29.25%	-12.96%	-8.40%	23.96%	18.37%	10.96%	3.36%
SGOL abrdn Physical Gold Shares ETF	0.08%	0.65%	-18.71%	-6.06%	21.20%	27.11%	17.42%	11.62%	8.34%
VGT Vanguard Information Technology ETF	-0.95%	-1.88%	20.32%	20.52%	32.19%	26.68%	17.70%	24.14%	14.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Sep 9, 2009, Ray Dalio's 4 Quadrants's average daily return is +0.04%, while the average monthly return is +0.84%. At this rate, an investment would double in approximately 6.9 years.

Historically, 62% of months were positive and 38% were negative. The best month was Apr 2020 with a return of +9.2%, while the worst month was Sep 2011 at -8.2%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.

On a daily basis, Ray Dalio's 4 Quadrants closed higher 54% of trading days. The best single day was Mar 24, 2020 with a return of +6.0%, while the worst single day was Mar 12, 2020 at -7.4%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	6.62%	2.76%	-4.04%	6.16%	4.60%	-5.80%	-2.00%						7.78%
2025	2.65%	-0.62%	0.32%	1.71%	5.20%	5.10%	1.48%	3.03%	6.86%	4.77%	-1.22%	0.19%	33.33%
2024	-0.43%	0.87%	3.87%	-1.55%	4.99%	0.32%	2.08%	0.88%	3.01%	0.10%	1.57%	-3.18%	12.97%
2023	5.82%	-3.28%	5.36%	0.36%	0.20%	2.40%	2.01%	-1.46%	-2.90%	-0.37%	6.32%	3.46%	18.79%
2022	-2.70%	1.67%	1.96%	-5.91%	0.84%	-5.36%	5.82%	-2.64%	-7.60%	3.01%	6.10%	-2.44%	-8.06%
2021	-0.62%	-1.53%	0.25%	2.22%	2.20%	0.31%	0.87%	1.32%	-2.60%	4.89%	-0.75%	1.20%	7.81%

Benchmark Metrics

Ray Dalio's 4 Quadrants has an annualized alpha of 3.04%, beta of 0.55, and R2 of 0.67 versus S&P 500 Index. Calculated based on daily prices since September 09, 2009.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (59.97%) than losses (55.99%) - typical of diversified or defensive assets.
This portfolio generated an annualized alpha of 3.04% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
Beta of 0.55 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: 3.04%

Beta: 0.55

R²: 0.67

Upside Capture: 59.97%

Downside Capture: 55.99%

See how alpha, beta & R² have trended over time →

Expense Ratio

Ray Dalio's 4 Quadrants has an expense ratio of 0.19%, 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.

NLR

VanEck Uranium and Nuclear ETF

IXC

iShares Global Energy ETF

ICLN

iShares Global Clean Energy ETF

SGOL

abrdn Physical Gold Shares ETF

VGT

Vanguard Information Technology ETF

BND

Vanguard Total Bond Market ETF

Return for Risk

Risk / Return Rank

Ray Dalio's 4 Quadrants ranks 41 for risk / return — on par with similar Portfolios. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below presents risk-adjusted performance metrics for Ray Dalio's 4 Quadrants 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	1.37	1.31	+0.06
Sortino ratioReturn per unit of downside risk	1.83	1.84	-0.01
Omega ratioGain probability vs. loss probability	1.25	1.24	+0.02
Calmar ratioReturn relative to maximum drawdown	2.27	1.82	+0.45
Martin ratioReturn relative to average drawdown	5.93	7.79	-1.87

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	32	0.84	1.25	1.15	1.17	3.04
ICLN iShares Global Clean Energy ETF	37	0.97	1.44	1.17	1.17	3.96
IXC iShares Global Energy ETF	80	2.18	2.79	1.36	2.75	8.52
NLR VanEck Uranium and Nuclear ETF	10	-0.19	0.03	1.00	-0.22	-0.48
SGOL abrdn Physical Gold Shares ETF	28	0.73	1.07	1.15	0.77	1.73
VGT Vanguard Information Technology ETF	54	1.38	1.88	1.24	1.99	5.55

Sharpe Ratio

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. Learn how to interpret the Sharpe ratio.

The current Ray Dalio's 4 Quadrants Sharpe ratio is 1.37 as of Jul 26, 2026 (the value is recalculated daily), calculated over the past 12 months.

Compared to the broad market, where average Sharpe ratios range from 1.08 to 1.91, this portfolio's current Sharpe ratio falls between the 25th and 75th percentiles. This indicates that its risk-adjusted performance is in line with the majority of portfolios, suggesting a balanced approach to risk and return—likely suitable for a wide range of investors.

The chart below shows the rolling Sharpe ratio of Ray Dalio's 4 Quadrants compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Dividends

Dividend yield

Ray Dalio's 4 Quadrants provided a 1.67% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	1.67%	1.72%	1.66%	1.73%	1.52%	1.29%	1.42%	1.84%	1.88%	1.75%	1.82%	1.75%
Portfolio components:
BND Vanguard Total Bond Market ETF	4.02%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
ICLN iShares Global Clean Energy ETF	1.04%	1.63%	1.85%	1.59%	0.89%	1.18%	0.34%	1.36%	2.77%	2.49%	3.88%	2.36%
IXC iShares Global Energy ETF	2.83%	3.68%	4.56%	3.45%	4.76%	3.98%	4.86%	7.00%	3.51%	3.05%	2.86%	3.77%
NLR VanEck Uranium and Nuclear ETF	2.93%	2.55%	0.76%	4.54%	2.02%	1.99%	2.23%	2.21%	3.91%	4.86%	3.62%	3.30%
SGOL abrdn Physical Gold Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VGT Vanguard Information Technology ETF	0.38%	0.40%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

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 Ray Dalio's 4 Quadrants. 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 Ray Dalio's 4 Quadrants was 21.11%, occurring on Mar 20, 2020. Recovery took 54 trading sessions.

The current Ray Dalio's 4 Quadrants drawdown is 9.06%.

Drawdown	Fall	Recovery	Underwater	Related event
-21.11%Mar 2020	29d	2mo 20d	3mo 19dFeb 2020 - Jun 2020	COVID crash2020
-16.32%Oct 2022	6mo 12d	8mo 1d	1y 2moApr 2022 - Jun 2023	Bear market2022
-12.19%Jan 2016	8mo 26d	5mo 13d	1y 2moApr 2015 - Jul 2016	—
-11.68%Oct 2011	5mo 4d	4mo 9d	9mo 13dMay 2011 - Feb 2012	—
-10.18%Apr 2025	1mo 18d	28d	2mo 16dFeb 2025 - May 2025	2025 selloff2025

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 6 assets, with an effective number of assets of 4.80, reflecting the diversification based on asset allocation. Your capital is well-distributed across most of your holdings, with only mild concentration in a few names. True diversification also depends on the correlations between assets — check the diversification ratio below.

Diversification Ratio

	1Y	3Y	5Y	10Y	All Time
Diversification Ratio	1.40	1.48	1.48	1.47	1.48

The portfolio has a diversification ratio of 1.48, in line with the typical range across portfolios.

Ray Dalio's 4 Quadrants correlation to the S&P 500 Index

Ray Dalio's 4 Quadrants has a 0.75 correlation to S&P 500 Index over the trailing 12 months. This section compares each holding's correlation to the benchmark and to the portfolio.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (10Y) Provides a long-term view across more market conditions.	0.78
Correlation (All Time) Calculated using the full available price history since Sep 9, 2009	0.78

Benchmark Correlations

Correlation vs. S&P 500 Index. VGT has the highest benchmark correlation at 0.89, while BND has the lowest at -0.10.

-0.10

0.06

0.59

0.60

0.64

0.89

Portfolio Correlations

Correlation vs. Ray Dalio's 4 Quadrants. VGT has the highest portfolio correlation at 0.78, while BND has the lowest at 0.13.

0.13

0.50

0.60

0.69

0.72

0.78

Asset Correlations Table

See how each holding historically moved in relation to the other holdings, the portfolio, and the selected benchmark.

	BND	SGOL	IXC	NLR	ICLN	VGT
BND	1.00	0.29	-0.19	0.00	-0.01	-0.07
SGOL	0.29	1.00	0.14	0.22	0.15	0.05
IXC	-0.19	0.14	1.00	0.47	0.48	0.44
NLR	0.00	0.22	0.47	1.00	0.52	0.52
ICLN	-0.01	0.15	0.48	0.52	1.00	0.60
VGT	-0.07	0.05	0.44	0.52	0.60	1.00

Based on daily historical returns since Sep 9, 2009

Diversification Analysis

Find what Ray Dalio's 4 Quadrants is missing

See which holdings overlap, where Ray Dalio's 4 Quadrants is concentrated, and which low-correlation assets could fill the gaps.

Analyze Diversification