Feb 6, 2006 – Oct 2, 2026, Rebalanced annually, DBC sets the start date
| Final balance | CAGR | Max drawdown | Sharpe ratio | |
|---|---|---|---|---|
| Golden Butterfly | $45,318 | +7.59% | −19.57% | 0.88 |
| All Weather | $37,324 | +6.59% | −23.78% | 0.83 |
Growth of $10,000
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Key metrics
| Return | Golden Butterfly | All Weather |
|---|---|---|
| Final balance | $45,318 | $37,324 |
| Total return | +353.18% | +273.24% |
| CAGR | +7.59% | +6.59% |
| Calendar years | Golden Butterfly | All Weather |
|---|---|---|
| Best year | +19.81% | +18.28% |
| Worst year | −12.96% | −19.23% |
| Positive years | 15 of 19 | 16 of 19 |
| Risk | Golden Butterfly | All Weather |
|---|---|---|
| Max drawdown | −19.57% | −23.78% |
| Longest drawdown | 2.4 years | 3.8 years |
| Volatility (annualized) | 8.79% | 8.09% |
| Risk-adjusted | Golden Butterfly | All Weather |
|---|---|---|
| Sharpe ratio | 0.88 | 0.83 |
| Sortino ratio | 1.25 | 1.18 |
| Calmar ratio | 0.39 | 0.28 |
Trailing returns
| Period | Golden Butterfly | All Weather | Golden Butterfly − All Weather |
|---|---|---|---|
| YTD | +2.84% | +3.33% | −0.49% |
| 1Y | +6.42% | +4.84% | +1.57% |
| 3Y | +15.36% | +11.33% | +4.03% |
| 5Y | +6.90% | +2.74% | +4.16% |
| 10Y | +7.47% | +5.33% | +2.13% |
| 15Y | +7.45% | +5.84% | +1.62% |
| 20Y | +7.67% | +6.67% | +1.00% |
Rolling returns
| Period | Golden Butterfly median | All Weather median | More often ahead |
|---|---|---|---|
| 1Y | +8.71% | +8.33% | Golden Butterfly 59% |
| 3Y | +6.87% | +6.37% | Golden Butterfly 61% |
| 5Y | +7.19% | +6.43% | Golden Butterfly 61% |
| 10Y | +7.35% | +6.97% | Golden Butterfly 68% |
Worst drawdowns · Golden Butterfly
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −19.6% | May 2008 | Mar 2009 | Sep 2009 | 1.3 years |
| −18.9% | Nov 2021 | Oct 2022 | Mar 2024 | 2.4 years |
| −16.1% | Feb 2020 | Mar 2020 | Jul 2020 | 5 months |
| −8.5% | Jan 2018 | Dec 2018 | Feb 2019 | 1.1 years |
| −8.4% | Jan 2015 | Jan 2016 | Apr 2016 | 1.2 years |
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −23.8% | Nov 2021 | Oct 2022 | Aug 2025 | 3.8 years |
| −14.5% | May 2008 | Nov 2008 | Dec 2008 | 7 months |
| −14.1% | Dec 2008 | Mar 2009 | Sep 2009 | 9 months |
| −14.0% | Mar 2020 | Mar 2020 | Jun 2020 | 3 months |
| −8.5% | Feb 2015 | Jan 2016 | Jun 2016 | 1.3 years |
Annual returns
| Year | Golden Butterfly | All Weather | Golden Butterfly − All Weather |
|---|---|---|---|
| 2017 | +11.06% | +11.75% | −0.69% |
| 2018 | −3.92% | −3.08% | −0.84% |
| 2019 | +17.76% | +18.28% | −0.52% |
| 2020 | +14.59% | +16.36% | −1.76% |
| 2021 | +8.86% | +8.16% | +0.70% |
| 2022 | −12.96% | −19.23% | +6.27% |
| 2023 | +12.33% | +9.96% | +2.38% |
| 2024 | +11.75% | +5.99% | +5.76% |
| 2025 | +19.81% | +13.42% | +6.39% |
| 2026to Oct 2 | +2.84% | +3.33% | −0.49% |
Holdings
About Golden Butterfly vs All Weather
Both spread money across stocks, Treasury bonds and gold so that no single kind of economy sinks them. The Golden Butterfly splits it into five equal parts, two of them stocks, so 40% is in stocks, including small-cap value. All Weather holds 30% in stocks and 55% in long and intermediate Treasuries, with gold and commodities making up the rest.
The Golden Butterfly returned 7.6% a year from Feb 2006 to Oct 2026, against 6.6% for All Weather. The Golden Butterfly fell furthest in 2008–2009, by 19.6%, and All Weather in 2021–2022, by 23.8%. The Golden Butterfly beat All Weather in 10 of 19 full years and in 68% of rolling 10-year periods.
Daily closes with dividends reinvested and fund fees included, before taxes and trading costs. Both rebalance once a year. The comparison starts on Feb 6, 2006, when DBC's prices begin.