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Roger Gibson Talmud Portfolio

Last updated Dec 3, 2022

Talmud Portfolio is a three-fund portfolio of stocks, REITs, and bonds. It was created in 1989 by Roger Gibson, a financial advisor and author of Asset Allocation: Balancing Financial Risk.

Expense Ratio

Rank 26 of 54

Dividend Yield

Rank 13 of 54

10Y Annualized Return

Rank 27 of 54

Sharpe Ratio

Rank 38 of 54

Maximum Drawdown

Rank 37 of 54


Roger Gibson Talmud PortfolioAsset Allocation

BND 33.34%VTI 33.33%VNQ 33.33%BondBondEquityEquityReal EstateReal Estate

Roger Gibson Talmud PortfolioPerformance

The chart shows the growth of $10,000 invested in Roger Gibson Talmud Portfolio in Jan 2010 and compares it to the S&P 500 index or another benchmark. It would be worth nearly $28,210 for a total return of roughly 182.10%. All prices are adjusted for splits and dividends. The portfolio is rebalanced Quarterly

Roger Gibson Talmud Portfolio
Benchmark (^GSPC)
Portfolio components

Roger Gibson Talmud PortfolioReturns

As of Dec 3, 2022, the Roger Gibson Talmud Portfolio returned -17.22% Year-To-Date and 8.20% of annualized return in the last 10 years.

Roger Gibson Talmud Portfolio5.32%-4.65%-16.05%-11.48%5.55%7.42%
Vanguard Real Estate ETF
Vanguard Total Stock Market ETF
Vanguard Total Bond Market ETF

Roger Gibson Talmud 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 Roger Gibson Talmud Portfolio Sharpe ratio is -0.65. 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.

Roger Gibson Talmud Portfolio
Benchmark (^GSPC)
Portfolio components

Roger Gibson Talmud PortfolioDividends

Roger Gibson Talmud Portfolio granted a 2.53% dividend yield in the last twelve months.


Dividend yield


Roger Gibson Talmud PortfolioDrawdowns Chart

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

Roger Gibson Talmud Portfolio
Benchmark (^GSPC)
Portfolio components

Roger Gibson Talmud PortfolioWorst Drawdowns

The table below shows the maximum drawdowns of the Roger Gibson Talmud 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 Roger Gibson Talmud Portfolio is 26.60%, recorded on Mar 23, 2020. It took 163 trading sessions for the portfolio to recover.



To Bottom


To Recover



-26.6%Feb 21, 202022Mar 23, 2020163Nov 11, 2020185
-24.61%Dec 31, 2021199Oct 14, 2022
-13.3%Jul 25, 201150Oct 3, 201176Jan 23, 2012126
-10.53%Aug 30, 201880Dec 24, 201834Feb 13, 2019114
-9.98%Apr 30, 201046Jul 6, 201053Sep 20, 201099
-9.05%Mar 23, 2015109Aug 25, 2015148Mar 29, 2016257
-8.37%May 22, 201323Jun 24, 2013160Feb 11, 2014183
-6.76%Jan 29, 20189Feb 8, 2018101Jul 5, 2018110
-6.64%Aug 1, 201668Nov 3, 201673Feb 21, 2017141
-5.64%Jan 20, 201014Feb 8, 201018Mar 5, 201032

Roger Gibson Talmud PortfolioVolatility Chart

Current Roger Gibson Talmud Portfolio volatility is 6.80%. 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.

Roger Gibson Talmud Portfolio
Benchmark (^GSPC)
Portfolio components