Path Forward 2023

Performance

Risk-Adjusted Performance

Dividends

Drawdowns

Volatility

Diversification

Path Forward 2023

Currency in USD · Last updated May 11, 2025

Asset Allocation

Position	Category/Sector	Target Weight
SWPPX Schwab S&P 500 Index Fund	Large Cap Blend Equities	10%
SWVXX Schwab Value Advantage Money Fund		25%
USD=X USD Cash		5%
VASGX Vanguard LifeStrategy Growth Fund	Diversified Portfolio	8%
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares	Total Bond Market	5%
VGSLX Vanguard Real Estate Index Fund Admiral Shares	REIT	4%
VTRIX Vanguard International Value Fund	Foreign Large Cap Equities	3%
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares	Large Cap Blend Equities	10%
VUSB Vanguard Ultra-Short Bond ETF	Government Bonds	5%
VWINX Vanguard Wellesley Income Fund Investor Shares	Diversified Portfolio	10%
VXF Vanguard Extended Market ETF	Small Cap Blend Equities	10%
VXUS Vanguard Total International Stock ETF	Foreign Large Cap Equities	5%

Benchmark

Rebalance

Performance

Performance Chart

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The earliest data available for this chart is Apr 7, 2021, corresponding to the inception date of VUSB

Returns By Period

	YTD	1M	6M	1Y	5Y*	10Y*
^GSPC S&P 500	-3.77%	7.44%	-5.60%	8.37%	14.12%	10.46%
Path Forward 2023	0.23%	4.76%	-1.73%	6.25%	N/A	N/A
Portfolio components:
USD=X USD Cash	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWVXX Schwab Value Advantage Money Fund	1.03%	0.00%	1.79%	4.64%	2.56%	1.74%
SWPPX Schwab S&P 500 Index Fund	-3.30%	7.57%	-4.95%	9.84%	15.86%	12.18%
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares	1.71%	0.53%	0.76%	5.03%	-0.81%	1.51%
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares	-3.66%	8.09%	-5.58%	9.22%	15.28%	11.77%
VWINX Vanguard Wellesley Income Fund Investor Shares	1.72%	2.71%	-0.48%	6.01%	5.01%	5.27%
VXF Vanguard Extended Market ETF	-6.45%	11.97%	-10.06%	5.12%	11.88%	8.28%
VXUS Vanguard Total International Stock ETF	10.58%	11.19%	6.81%	9.90%	10.82%	5.13%
VUSB Vanguard Ultra-Short Bond ETF	1.68%	0.70%	2.43%	5.74%	N/A	N/A
VTRIX Vanguard International Value Fund	8.49%	11.86%	-1.94%	-1.94%	9.38%	3.34%
VGSLX Vanguard Real Estate Index Fund Admiral Shares	0.39%	7.22%	-5.79%	11.28%	7.74%	5.33%
VASGX Vanguard LifeStrategy Growth Fund	1.83%	7.58%	-3.95%	4.95%	8.89%	6.44%

*Annualized

Monthly Returns

The table below presents the monthly returns of Path Forward 2023, 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	1.96%	-0.28%	-2.20%	-0.11%	0.89%								0.23%
2024	-0.30%	2.28%	1.98%	-2.51%	2.54%	0.93%	2.19%	1.46%	1.47%	-0.97%	3.25%	-2.74%	9.78%
2023	4.61%	-1.84%	1.07%	0.55%	-0.60%	3.47%	2.20%	-1.55%	-2.63%	-1.89%	5.60%	4.08%	13.39%
2022	-3.21%	-1.34%	0.74%	-4.65%	0.02%	-4.47%	4.50%	-2.27%	-5.63%	3.55%	4.20%	-2.64%	-11.27%
2021				1.35%	0.62%	1.04%	0.63%	1.21%	-2.35%	2.92%	-1.46%	1.88%	5.88%

Expense Ratio

Path Forward 2023 has an expense ratio of 0.07%, 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.

VTRIX

Vanguard International Value Fund

VWINX

Vanguard Wellesley Income Fund Investor Shares

VASGX

Vanguard LifeStrategy Growth Fund

VGSLX

Vanguard Real Estate Index Fund Admiral Shares

VUSB

Vanguard Ultra-Short Bond ETF

VXUS

Vanguard Total International Stock ETF

VXF

Vanguard Extended Market ETF

VBTLX

Vanguard Total Bond Market Index Fund Admiral Shares

VTSAX

Vanguard Total Stock Market Index Fund Admiral Shares

SWPPX

Schwab S&P 500 Index Fund

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of Path Forward 2023 is 44, indicating average performance compared to other portfolios on our website. Here’s 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
USD=X USD Cash	—	—	—	—	—
SWVXX Schwab Value Advantage Money Fund	3.49	—	—	—	—
SWPPX Schwab S&P 500 Index Fund	0.51	0.71	1.11	0.43	1.62
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares	0.89	1.31	1.16	0.39	2.13
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares	0.47	0.67	1.10	0.39	1.45
VWINX Vanguard Wellesley Income Fund Investor Shares	0.84	1.08	1.15	0.96	3.36
VXF Vanguard Extended Market ETF	0.19	0.41	1.05	0.15	0.47
VXUS Vanguard Total International Stock ETF	0.58	0.87	1.12	0.66	2.04
VUSB Vanguard Ultra-Short Bond ETF	7.25	12.82	3.61	12.05	79.76
VTRIX Vanguard International Value Fund	-0.09	-0.07	0.99	-0.12	-0.30
VGSLX Vanguard Real Estate Index Fund Admiral Shares	0.60	0.90	1.12	0.43	1.83
VASGX Vanguard LifeStrategy Growth Fund	0.35	0.46	1.07	0.25	0.86

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.

Path Forward 2023 Sharpe ratios as of May 11, 2025 (values are recalculated daily):

1-Year: 0.65
All Time: 0.43

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 0.41 to 0.94, 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 Path Forward 2023 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

Path Forward 2023 provided a 2.35% dividend yield over the last twelve months.

	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Portfolio	2.35%	2.36%	1.91%	1.99%	1.68%	1.57%	1.58%	2.27%	1.53%	1.65%	1.96%	1.73%
Portfolio components:
USD=X USD Cash	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWVXX Schwab Value Advantage Money Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWPPX Schwab S&P 500 Index Fund	1.27%	1.23%	1.43%	1.67%	1.17%	1.81%	1.77%	2.20%	1.75%	1.99%	2.15%	1.80%
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares	3.46%	3.69%	3.11%	2.51%	1.90%	2.23%	2.74%	2.78%	2.51%	2.49%	2.48%	2.55%
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares	1.34%	1.26%	1.43%	1.65%	1.20%	1.41%	1.77%	2.04%	1.71%	1.92%	1.98%	1.76%
VWINX Vanguard Wellesley Income Fund Investor Shares	6.64%	6.61%	4.73%	7.67%	6.03%	4.30%	3.94%	7.56%	4.00%	4.00%	5.60%	4.92%
VXF Vanguard Extended Market ETF	1.26%	1.09%	1.27%	1.15%	1.13%	1.07%	1.30%	1.66%	1.25%	1.43%	1.35%	1.32%
VXUS Vanguard Total International Stock ETF	3.00%	3.37%	3.25%	3.09%	3.10%	2.14%	3.06%	3.17%	2.73%	2.93%	2.83%	3.40%
VUSB Vanguard Ultra-Short Bond ETF	5.02%	5.16%	4.45%	1.53%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VTRIX Vanguard International Value Fund	2.63%	2.86%	2.78%	2.75%	2.61%	1.58%	2.96%	2.94%	1.86%	2.29%	2.13%	2.79%
VGSLX Vanguard Real Estate Index Fund Admiral Shares	4.10%	3.85%	3.96%	3.91%	2.56%	3.92%	3.39%	4.73%	4.23%	4.82%	3.92%	3.60%
VASGX Vanguard LifeStrategy Growth Fund	6.03%	6.15%	3.01%	2.22%	3.54%	3.54%	2.34%	4.36%	2.13%	2.23%	4.54%	2.76%

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 Path Forward 2023. 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 Path Forward 2023 was 16.63%, occurring on Oct 14, 2022. Recovery took 336 trading sessions.

The current Path Forward 2023 drawdown is 2.82%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-16.63%	Nov 9, 2021	244	Oct 14, 2022	336	Jan 29, 2024	580
-9.45%	Dec 5, 2024	89	Apr 8, 2025	—	—	—
-3.77%	Jul 17, 2024	14	Aug 5, 2024	12	Aug 21, 2024	26
-3.21%	Apr 1, 2024	15	Apr 19, 2024	18	May 15, 2024	33
-2.8%	Sep 3, 2021	22	Oct 4, 2021	15	Oct 25, 2021	37

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 12 assets, with an effective number of assets of 8.24, 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	USD=X	SWVXX	VUSB	VBTLX	VGSLX	VWINX	VTRIX	VXUS	VXF	SWPPX	VTSAX	VASGX	Portfolio
^GSPC	1.00	0.00	0.03	0.12	0.12	0.65	0.67	0.75	0.76	0.86	1.00	0.99	0.95	0.95
USD=X	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SWVXX	0.03	0.00	1.00	0.03	0.01	0.02	0.01	0.00	0.00	0.04	0.03	0.03	0.01	0.06
VUSB	0.12	0.00	0.03	1.00	0.59	0.22	0.37	0.18	0.21	0.14	0.12	0.13	0.20	0.21
VBTLX	0.12	0.00	0.01	0.59	1.00	0.29	0.59	0.14	0.16	0.14	0.12	0.13	0.22	0.23
VGSLX	0.65	0.00	0.02	0.22	0.29	1.00	0.70	0.57	0.59	0.67	0.65	0.67	0.68	0.75
VWINX	0.67	0.00	0.01	0.37	0.59	0.70	1.00	0.63	0.64	0.64	0.67	0.67	0.73	0.77
VTRIX	0.75	0.00	0.00	0.18	0.14	0.57	0.63	1.00	0.97	0.75	0.74	0.76	0.88	0.84
VXUS	0.76	0.00	0.00	0.21	0.16	0.59	0.64	0.97	1.00	0.76	0.76	0.78	0.90	0.85
VXF	0.86	0.00	0.04	0.14	0.14	0.67	0.64	0.75	0.76	1.00	0.86	0.91	0.89	0.94
SWPPX	1.00	0.00	0.03	0.12	0.12	0.65	0.67	0.74	0.76	0.86	1.00	0.99	0.95	0.94
VTSAX	0.99	0.00	0.03	0.13	0.13	0.67	0.67	0.76	0.78	0.91	0.99	1.00	0.96	0.97
VASGX	0.95	0.00	0.01	0.20	0.22	0.68	0.73	0.88	0.90	0.89	0.95	0.96	1.00	0.98
Portfolio	0.95	0.00	0.06	0.21	0.23	0.75	0.77	0.84	0.85	0.94	0.94	0.97	0.98	1.00

The correlation results are calculated based on daily price changes starting from Apr 8, 2021

Performance Analysis

Risk Analysis

Optimization

Factor Model

Path Forward 2023

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

Portfolios

Screeners

Community