Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
BND Vanguard Total Bond Market ETF | Total Bond Market | 33.34% |
VNQ Vanguard Real Estate ETF | REIT | 33.33% |
VTI Vanguard Total Stock Market ETF | Large Cap Blend Equities | 33.33% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Roger Gibson Talmud 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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The earliest data available for this chart is Apr 10, 2007, corresponding to the inception date of BND
Returns By Period
As of Apr 11, 2026, the Roger Gibson Talmud Portfolio returned 2.34% Year-To-Date and 7.28% of annualized return in the last 10 years.
| 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | -0.11% | 2.78% | -0.42% | 4.03% | 27.10% | 18.38% | 10.55% | 12.70% |
Portfolio Roger Gibson Talmud Portfolio | -0.02% | 1.88% | 2.34% | 4.44% | 17.04% | 10.57% | 5.19% | 7.28% |
| Portfolio components: | ||||||||
VNQ Vanguard Real Estate ETF | 0.22% | 1.97% | 6.20% | 7.60% | 15.60% | 8.09% | 3.71% | 5.16% |
VTI Vanguard Total Stock Market ETF | -0.12% | 3.06% | 0.25% | 4.74% | 29.52% | 19.61% | 10.91% | 14.16% |
BND Vanguard Total Bond Market ETF | -0.15% | 0.46% | 0.39% | 0.77% | 6.32% | 3.55% | 0.28% | 1.69% |
Monthly Returns
Based on dividend-adjusted daily data since Apr 11, 2007, Roger Gibson Talmud Portfolio's average daily return is +0.03%, while the average monthly return is +0.61%. At this rate, an investment would double in approximately 9.5 years.
Historically, 66% of months were positive and 34% were negative. The best month was Apr 2009 with a return of +14.4%, while the worst month was Oct 2008 at -17.8%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 4 months.
On a daily basis, Roger Gibson Talmud Portfolio closed higher 54% of trading days. The best single day was Oct 13, 2008 with a return of +7.6%, while the worst single day was Mar 16, 2020 at -8.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.47% | 2.16% | -4.35% | 3.22% | 2.34% | ||||||||
| 2025 | 1.76% | 1.32% | -2.79% | -0.93% | 2.23% | 2.51% | 0.70% | 2.33% | 1.53% | 0.12% | 1.08% | -0.85% | 9.25% |
| 2024 | -1.36% | 1.98% | 2.06% | -4.91% | 3.64% | 1.96% | 4.08% | 2.99% | 2.22% | -2.19% | 4.03% | -4.35% | 10.03% |
| 2023 | 6.88% | -3.68% | 1.07% | 0.66% | -1.57% | 4.05% | 1.86% | -2.00% | -4.84% | -2.60% | 8.65% | 6.17% | 14.50% |
| 2022 | -5.52% | -2.34% | 2.12% | -5.72% | -1.38% | -5.70% | 6.77% | -4.20% | -8.76% | 3.47% | 5.02% | -3.99% | -19.56% |
| 2021 | -0.39% | 1.69% | 2.59% | 4.58% | 0.48% | 2.04% | 2.44% | 1.61% | -3.76% | 4.61% | -1.14% | 4.43% | 20.56% |
Benchmark Metrics
Roger Gibson Talmud Portfolio has an annualized alpha of 0.79%, beta of 0.68, and R² of 0.81 versus S&P 500 Index. Calculated based on daily prices since April 11, 2007.
- This portfolio participated in 74.35% of S&P 500 Index downside but only 69.06% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.68 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
- 0.79%
- Beta
- 0.68
- R²
- 0.81
- Upside Capture
- 69.06%
- Downside Capture
- 74.35%
Expense Ratio
Roger Gibson Talmud Portfolio has an expense ratio of 0.06%, 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
Roger Gibson Talmud Portfolio ranks 42 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.
Return / Risk — by metrics
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.17 | 2.23 | -0.06 |
Sortino ratioReturn per unit of downside risk | 3.06 | 3.12 | -0.06 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.42 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 3.55 | 4.05 | -0.50 |
Martin ratioReturn relative to average drawdown | 14.66 | 17.91 | -3.25 |
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 | |
|---|---|---|---|---|---|---|
VNQ Vanguard Real Estate ETF | 28 | 1.26 | 1.77 | 1.23 | 2.54 | 8.05 |
VTI Vanguard Total Stock Market ETF | 66 | 2.36 | 3.28 | 1.44 | 4.38 | 19.06 |
BND Vanguard Total Bond Market ETF | 31 | 1.58 | 2.36 | 1.28 | 2.29 | 7.38 |
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Dividends
Dividend yield
Roger Gibson Talmud Portfolio provided a 2.93% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 2.93% | 2.97% | 2.93% | 2.83% | 2.73% | 1.96% | 2.58% | 2.63% | 3.20% | 2.83% | 3.08% | 2.82% |
| Portfolio components: | ||||||||||||
VNQ Vanguard Real Estate ETF | 3.75% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
VTI Vanguard Total Stock Market ETF | 1.13% | 1.12% | 1.27% | 1.44% | 1.66% | 1.21% | 1.42% | 1.78% | 2.04% | 1.71% | 1.92% | 1.98% |
BND Vanguard Total Bond Market ETF | 3.92% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
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 Roger Gibson Talmud 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 Roger Gibson Talmud Portfolio was 44.88%, occurring on Mar 6, 2009. Recovery took 402 trading sessions.
The current Roger Gibson Talmud Portfolio drawdown is 1.31%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -44.88% | Oct 8, 2007 | 356 | Mar 6, 2009 | 402 | Oct 8, 2010 | 758 |
| -26.6% | Feb 21, 2020 | 22 | Mar 23, 2020 | 163 | Nov 11, 2020 | 185 |
| -24.61% | Dec 31, 2021 | 199 | Oct 14, 2022 | 462 | Aug 19, 2024 | 661 |
| -13.3% | Jul 25, 2011 | 50 | Oct 3, 2011 | 76 | Jan 23, 2012 | 126 |
| -11.86% | Dec 2, 2024 | 87 | Apr 8, 2025 | 59 | Jul 3, 2025 | 146 |
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 3 assets, with an effective number of assets of 3.00, 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 | BND | VNQ | VTI | Portfolio | |
|---|---|---|---|---|---|
| Benchmark | 1.00 | -0.14 | 0.66 | 0.99 | 0.85 |
| BND | -0.14 | 1.00 | 0.04 | -0.14 | 0.07 |
| VNQ | 0.66 | 0.04 | 1.00 | 0.67 | 0.94 |
| VTI | 0.99 | -0.14 | 0.67 | 1.00 | 0.86 |
| Portfolio | 0.85 | 0.07 | 0.94 | 0.86 | 1.00 |
AI Insight on Diversification
The portfolio is moderately diversified but leans toward concentration in certain assets. The correlation matrix reveals that VNQ (a real estate investment trust index) and VTI (a broad U.S. stock market index) have a relatively high correlation of 0.67, indicating these equity positions move somewhat in tandem, which reduces diversification benefits between these two holdings. In contrast, BND (a bond index) shows very low or slightly negative correlations with the equity positions: 0.04 with VNQ and -0.14 with VTI, which enhances diversification by providing a different risk-return profile.
Looking at the portfolio’s correlation with individual positions, it is highly correlated with VNQ (0.94) and VTI (0.86), but only weakly correlated with BND (0.07). This suggests that the portfolio’s performance is largely driven by the equity components, particularly VNQ, which has the highest correlation with the portfolio. The dominance of VNQ and VTI in the portfolio implies that fixed income exposure through BND has a limited influence on overall portfolio behavior.
Overall, while the inclusion of BND adds some diversification benefits due to its low correlation with equities, the strong correlations between the portfolio and its equity holdings, especially VNQ, indicate a concentration risk in equity sectors, particularly real estate. The portfolio is not fully diversified across asset classes, as it is heavily influenced by equity market movements, making it more susceptible to equity market volatility.