Apr 10, 2007 – Oct 2, 2026, Rebalanced annually, BND sets the start date
| Final balance | CAGR | Max drawdown | Sharpe ratio | |
|---|---|---|---|---|
| 60/40 | $45,070 | +8.04% | −33.93% | 0.73 |
| 100% Stocks | $74,297 | +10.84% | −55.45% | 0.62 |
Growth of $10,000
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Key metrics
| Return | 60/40 | 100% Stocks |
|---|---|---|
| Final balance | $45,070 | $74,297 |
| Total return | +350.70% | +642.97% |
| CAGR | +8.04% | +10.84% |
| Calendar years | 60/40 | 100% Stocks |
|---|---|---|
| Best year | +21.93% | +33.45% |
| Worst year | −19.45% | −36.99% |
| Positive years | 15 of 18 | 15 of 18 |
| Risk | 60/40 | 100% Stocks |
|---|---|---|
| Max drawdown | −33.93% | −55.45% |
| Longest drawdown | 2.5 years | 4.4 years |
| Volatility (annualized) | 11.60% | 19.82% |
| Risk-adjusted | 60/40 | 100% Stocks |
|---|---|---|
| Sharpe ratio | 0.73 | 0.62 |
| Sortino ratio | 1.02 | 0.87 |
| Calmar ratio | 0.24 | 0.20 |
Trailing returns
| Period | 60/40 | 100% Stocks | 60/40 − 100% Stocks |
|---|---|---|---|
| YTD | +7.16% | +13.71% | −6.55% |
| 1Y | +8.67% | +15.92% | −7.26% |
| 3Y | +15.42% | +22.79% | −7.37% |
| 5Y | +7.37% | +12.47% | −5.10% |
| 10Y | +9.48% | +14.82% | −5.33% |
| 15Y | +9.97% | +15.31% | −5.34% |
Rolling returns
| Period | 60/40 median | 100% Stocks median | More often ahead |
|---|---|---|---|
| 1Y | +10.56% | +15.22% | 100% Stocks 74% |
| 3Y | +9.08% | +13.02% | 100% Stocks 90% |
| 5Y | +8.74% | +13.42% | 100% Stocks 92% |
| 10Y | +8.77% | +12.99% | 100% Stocks 100% |
Worst drawdowns · 60/40
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −33.9% | Oct 2007 | Mar 2009 | Apr 2010 | 2.5 years |
| −21.8% | Feb 2020 | Mar 2020 | Jul 2020 | 5 months |
| −21.6% | Dec 2021 | Oct 2022 | Feb 2024 | 2.2 years |
| −12.1% | Sep 2018 | Dec 2018 | Mar 2019 | 6 months |
| −11.6% | Dec 2024 | Apr 2025 | Jun 2025 | 7 months |
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −55.5% | Oct 2007 | Mar 2009 | Mar 2012 | 4.4 years |
| −35.0% | Feb 2020 | Mar 2020 | Aug 2020 | 6 months |
| −25.4% | Jan 2022 | Oct 2022 | Dec 2023 | 2 years |
| −20.0% | Sep 2018 | Dec 2018 | Apr 2019 | 7 months |
| −19.3% | Feb 2025 | Apr 2025 | Jun 2025 | 4 months |
Annual returns
| Year | 60/40 | 100% Stocks | 60/40 − 100% Stocks |
|---|---|---|---|
| 2017 | +14.33% | +21.21% | −6.89% |
| 2018 | −3.09% | −5.23% | +2.14% |
| 2019 | +21.93% | +30.67% | −8.73% |
| 2020 | +15.73% | +21.08% | −5.34% |
| 2021 | +14.66% | +25.68% | −11.02% |
| 2022 | −16.96% | −19.52% | +2.56% |
| 2023 | +17.89% | +26.05% | −8.16% |
| 2024 | +14.84% | +23.81% | −8.97% |
| 2025 | +13.09% | +17.10% | −4.01% |
| 2026to Oct 2 | +7.16% | +13.71% | −6.55% |
Holdings
About 60/40 vs 100% Stocks
The 100% Stocks portfolio holds only the total US stock market. The 60/40 holds the same fund for 60% and the broad US bond market for the other 40%, which has usually softened its falls, though not in 2022, when stocks and bonds fell together.
The 60/40 returned 8.0% a year from Apr 2007 to Oct 2026, against 10.8% for 100% Stocks. Both fell furthest in 2007–2009, the 60/40 by 33.9% and 100% Stocks by 55.5%. 100% Stocks beat the 60/40 in 13 of 18 full years and in every rolling 10-year period.
Daily closes with dividends reinvested and fund fees included, before taxes and trading costs. Both rebalance once a year. The comparison starts on Apr 10, 2007, when BND's prices begin.