Ray Dalio All Weather Portfolio
Feb 6, 2006 – Nov 12, 2026, Rebalanced annually, DBC starts Feb 6, 2006
| Final balance | CAGR | Max drawdown | Sharpe ratio | |
|---|---|---|---|---|
| All Weather | $37,337 | +6.55% | −23.78% | 0.83 |
| S&P 500 | $87,309 | +11.00% | −55.19% | 0.64 |
| Final balance | CAGR | Max drawdown | Sharpe ratio | |
|---|---|---|---|---|
| All Weather | $37,337 | +6.55% | −23.78% | 0.83 |
| S&P 500 | $87,309 | +11.00% | −55.19% | 0.64 |
| All Weather | S&P 500 | |
|---|---|---|
| Final balance | $37,337 | $87,309 |
| CAGR | +6.55% | +11.00% |
| Max drawdown | −23.78% | −55.19% |
| Sharpe ratio | 0.83 | 0.64 |
Loading the growth chart…
Growth of $10,000
Key metrics
| Return | All Weather | S&P 500 |
|---|---|---|
| Final balance | $37,337 | $87,309 |
| Total return | +273.37% | +773.09% |
| CAGR | +6.55% | +11.00% |
| Calendar years | All Weather | S&P 500 |
|---|---|---|
| Best year | +18.28% | +32.31% |
| Worst year | −19.23% | −36.80% |
| Positive years | 16 of 19 | 16 of 19 |
| Risk | All Weather | S&P 500 |
|---|---|---|
| Max drawdown | −23.78% | −55.19% |
| Longest drawdown | 3.8 years | 4.9 years |
| Volatility (daily, annualized) | 8.09% | 19.22% |
| Risk-adjusted | All Weather | S&P 500 |
|---|---|---|
| Sharpe ratio | 0.83 | 0.64 |
| Sortino ratio | 1.18 | 0.90 |
| Calmar ratio | 0.28 | 0.20 |
Annual returns
| Year | All Weather | S&P 500 |
|---|---|---|
| 2017 | +11.75% | +21.71% |
| 2018 | −3.08% | −4.57% |
| 2019 | +18.28% | +31.22% |
| 2020 | +16.36% | +18.33% |
| 2021 | +8.16% | +28.73% |
| 2022 | −19.23% | −18.18% |
| 2023 | +9.96% | +26.18% |
| 2024 | +5.99% | +24.89% |
| 2025 | +13.42% | +17.72% |
| 2026 to Nov 12 | +3.28% | +11.89% |
Worst drawdowns
| 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 |
About the Ray Dalio All Weather Portfolio
Bridgewater, the firm Ray Dalio founded, runs a fund called All Weather. This is a simpler version that Dalio gave Tony Robbins for his 2014 book Money: Master the Game. The book calls it the All Seasons portfolio.
Bonds swing less than stocks, so it holds more of them, 55% in Treasuries against 30% in stocks. Gold and commodities are there for inflation. It lags stocks in strong markets, and it fell hard in 2022, when rising rates hit long-term bonds.
Its worst fall took 3.8 years to recover, and it beat the S&P 500 in 5 of 19 full years.
Daily closes with dividends reinvested and fund fees included, before taxes and trading costs.