- Portfolio Overview
- Asset Allocation and ETFs
- Performance
- Calculators
- Rolling Returns
- Drawdowns
Portfolio Overview
William Bernstein, a renowned financial author and investment advisor, provides valuable insights into building winning portfolios in his book "The Four Pillars of Investing: Lessons for Building a Winning Portfolio." One of the portfolio strategies he advocates is known as the Sheltered Sam portfolio. This portfolio is designed to offer diversification and asset allocation using a combination of low-cost index funds and ETFs (exchange-traded funds).
The rationale behind the Sheltered Sam portfolio is to achieve a balanced mix of asset classes that can withstand market volatility while delivering satisfactory long-term returns. Bernstein emphasizes the importance of diversifying across various asset classes to reduce risk and enhance overall portfolio performance. The portfolio allocations are structured based on different risk tolerances and desired asset allocations, ranging from conservative to aggressive.
Below is a table illustrating the asset allocations for the Sheltered Sam portfolio with a 60/40 allocation:
| Asset Class | Allocation |
|---|---|
| US Large Cap Value (VTV) | 15.00% |
| US Large Cap (VV) | 12.00% |
| US Small Cap Value (VIOV) | 9.00% |
| US Small Cap (VIOO) | 3.00% |
| REITs (VNQ) | 6.00% |
| Emerging Markets (VWO) | 3.00% |
| Pacific Stocks (VPL) | 3.00% |
| European Stocks (VGK) | 3.00% |
| International Large Cap Value (EFV) | 4.20% |
| Short-Term Treasuries (VGSH) | 24.00% |
| Precious Metals (GLTR) | 1.80% |
| TIPS (VTIP) | 16.00% |
In this allocation, 60% of the portfolio is allocated to stocks, while 40% is allocated to bonds. The stock portion comprises a mix of US large-cap and small-cap stocks, international stocks, emerging market stocks, and real estate investment trusts (REITs). The bond portion consists of short-term treasuries and Treasury Inflation-Protected Securities (TIPS).
By following this asset allocation, investors can benefit from broad diversification across different market segments and asset classes. The use of low-cost index funds and ETFs helps keep expenses down while providing exposure to the overall market performance. The Sheltered Sam portfolio approach offers a long-term investment strategy suitable for those seeking a balanced, low-maintenance, and cost-effective investment solution.
Asset Allocation
| Symbol | Category/Sector | Target Weight |
|---|---|---|
|
VTV Vanguard Value ETF |
US Equity | 15% |
|
VV Vanguard Large-Cap ETF |
US Equity | 12% |
|
VIOV Vanguard S&P Small-Cap 600 Value ETF |
US Equity | 9% |
|
VIOO Vanguard S&P Small-Cap 600 ETF |
US Equity | 3% |
|
VNQ Vanguard Real Estate ETF |
Real Estate | 6% |
|
VWO Vanguard FTSE Emerging Markets ETF |
International Equity | 3% |
|
VPL Vanguard FTSE Pacific ETF |
International Equity | 3% |
|
VGK Vanguard FTSE Europe ETF |
International Equity | 3% |
|
ETV Eaton Vance Tax Managed Buy Write Opportunities Closed Fund |
US Equity | 4.2% |
|
GLTR abrdn Physical Precious Metals Basket Shares ETF |
Commodities | 1.8% |
|
VCSH Vanguard Short-Term Corporate Bond ETF |
Fixed Income | 24% |
|
VTIP Vanguard Short-Term Inflation-Protected Securities ETF |
Fixed Income | 16% |
Historical Performance
AR inception is since 10/16/2012.
| Name | YTD Return | 1Yr AR | 3Yr AR | 5Yr AR | 10Yr AR | 15Yr AR | 20Yr AR | Inception |
|---|---|---|---|---|---|---|---|---|
| William Bernstein Sheltered Sam 60/40 Allocation | -3.75% | 5.84% | 3.63% | 8.73% | 5.85% | NA | NA | 6.97% |
| VFINX (VANGUARD 500 INDEX FUND INVESTOR SHARES) | -9.99% | 5.71% | 7.80% | 15.21% | 11.50% | 12.41% | 9.94% | 13.38% |
| VSMGX (VANGUARD LIFESTRATEGY MODERATE GROWTH FUND INVESTOR SHARES) | -2.46% | 6.56% | 4.41% | 7.52% | 5.36% | 6.37% | 5.86% | 6.44% |
| Ticker/Portfolio | Last 1 Week | 1 Yr | 3 Yr | 5 Yr | 10 Yr | 15 Yr | 20 Yr | Inception | YTD | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 | 1984 | 1983 | 1982 | 1981 | 1980 | 1979 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Annualized Return (%) | William Berns...llocation | -0.85 | 5.84 | 3.63 | 8.73 | 5.85 | NA | NA | 6.97 | -3.75 | 10.62 | 11.35 | -9.79 | 15.37 | 7.70 | 17.45 | -4.18 | 10.94 | 9.82 | -0.25 | 6.22 | 15.11 | 0.93 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| VFINX (VANGUA...R SHARES) | -3.29 | 5.71 | 7.80 | 15.21 | 11.50 | 12.41 | 9.94 | 13.38 | -9.99 | 24.84 | 26.12 | -18.24 | 28.53 | 18.74 | 31.33 | -4.55 | 21.66 | 11.83 | 1.23 | 13.52 | 32.17 | 15.82 | 1.96 | 14.91 | 26.52 | -37.02 | 5.39 | 15.64 | 4.77 | 10.74 | 28.50 | -22.17 | -12.03 | -9.05 | 21.08 | 28.62 | 33.18 | 22.87 | 37.45 | 1.18 | 10.15 | 8.24 | 32.05 | -3.33 | 28.37 | 14.92 | 3.97 | 9.30 | 22.60 | 3.67 | 17.07 | 19.25 | -8.55 | 27.89 | -2.07 | |
| VSMGX (VANGUA...R SHARES) | -0.23 | 6.56 | 4.41 | 7.52 | 5.36 | 6.37 | 5.86 | 6.44 | -2.46 | 10.28 | 15.51 | -16.01 | 10.08 | 13.59 | 19.30 | -6.28 | 14.86 | 7.09 | -2.21 | 6.38 | 14.73 | 9.78 | 0.12 | 13.14 | 20.35 | -26.49 | 7.21 | 13.30 | 5.68 | 11.76 | 22.40 | -10.34 | -4.78 | 1.27 | 14.09 | 21.59 | 17.90 | 10.77 | 26.58 | 2.04 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | |
| Sharpe Ratio | William Berns...llocation | NA | -5.05 | -6.21 | 54.11 | 37.76 | NA | NA | 51.63 | -32.57 | 52.81 | 53.29 | -86.13 | 185.55 | 35.55 | 255.13 | -64.62 | 244.20 | 119.79 | -3.18 | 98.48 | 209.44 | 13.30 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| VFINX (VANGUA...R SHARES) | NA | -10.40 | 21.08 | 72.55 | 54.57 | NA | NA | 43.78 | -104.79 | 144.05 | 168.50 | -81.42 | 217.48 | 53.11 | 239.69 | -34.37 | 316.32 | 88.64 | 7.76 | 118.55 | 290.33 | 124.85 | 8.24 | 82.04 | 97.09 | -92.28 | 15.05 | 123.84 | 25.29 | 88.29 | 163.16 | -89.66 | -67.65 | -59.22 | 98.26 | 123.57 | 162.11 | 163.05 | 432.60 | -17.93 | 91.08 | 58.43 | 191.72 | -53.33 | 173.14 | 59.74 | -0.19 | 30.84 | 149.03 | -23.73 | 80.36 | 64.68 | -126.79 | 119.12 | -383.89 | |
| VSMGX (VANGUA...R SHARES) | NA | -21.44 | -1.39 | 46.77 | 35.85 | NA | NA | 47.97 | -81.98 | 47.98 | 137.35 | -121.73 | 131.94 | 69.74 | 278.32 | -86.49 | 376.10 | 82.85 | -26.32 | 101.24 | 216.21 | 122.82 | 0.61 | 117.61 | 112.47 | -97.72 | 40.89 | 135.64 | 50.44 | 149.10 | 209.13 | -74.50 | -58.14 | -22.91 | 107.87 | 156.93 | 157.34 | 93.12 | 420.35 | 463.07 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | |
| Standard Deviation(%) | William Berns...llocation | NA | 9.95 | 12.01 | 11.32 | 11.06 | NA | NA | 10.36 | 14.10 | 7.63 | 13.32 | 12.97 | 8.27 | 21.01 | 6.29 | 8.49 | 4.22 | 8.03 | 8.64 | 6.30 | 7.20 | 6.92 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| VFINX (VANGUA...R SHARES) | NA | 18.89 | 18.52 | 18.03 | 18.38 | NA | NA | 18.11 | 28.94 | 12.67 | 13.09 | 24.19 | 13.11 | 34.69 | 12.48 | 17.11 | 6.68 | 13.11 | 15.51 | 11.39 | 11.07 | 12.74 | 23.36 | 18.07 | 27.22 | 40.99 | 16.02 | 10.04 | 10.29 | 11.10 | 17.04 | 25.96 | 21.55 | 22.20 | 18.17 | 20.48 | 18.21 | 11.77 | 7.77 | 9.92 | 8.83 | 9.93 | 14.69 | 16.06 | 13.09 | 17.07 | 33.80 | 16.55 | 11.67 | 12.80 | 13.62 | 18.09 | 14.61 | 16.53 | 23.80 | |
| VSMGX (VANGUA...R SHARES) | NA | 10.28 | 10.85 | 10.45 | 10.38 | NA | NA | 11.50 | 14.83 | 7.69 | 8.26 | 14.34 | 7.62 | 19.08 | 6.43 | 8.81 | 3.80 | 8.31 | 8.51 | 6.28 | 6.80 | 7.99 | 14.68 | 11.10 | 18.01 | 27.95 | 10.37 | 7.43 | 6.96 | 7.25 | 10.38 | 15.37 | 12.42 | 12.30 | 10.07 | 11.65 | 9.10 | 7.74 | 5.41 | 15.57 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | |
| Draw Down(%) | William Berns...llocation | NA | 9.99 | 12.78 | 15.74 | 24.71 | NA | NA | 24.71 | 9.72 | 3.71 | 11.72 | 15.74 | 3.80 | 24.71 | 3.59 | 11.13 | 1.69 | 6.13 | 8.10 | 4.80 | 5.52 | 3.93 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| VFINX (VANGUA...R SHARES) | NA | 18.76 | 19.24 | 24.59 | 33.83 | NA | NA | 55.25 | 18.76 | 8.45 | 9.97 | 24.59 | 5.14 | 33.83 | 6.63 | 19.40 | 2.60 | 10.29 | 12.05 | 7.30 | 5.59 | 9.60 | 18.71 | 15.66 | 27.17 | 47.73 | 9.88 | 7.47 | 7.01 | 7.47 | 13.79 | 33.02 | 29.18 | 16.55 | 11.81 | 19.20 | 10.79 | 7.45 | 2.50 | 8.48 | 4.84 | 5.63 | 5.57 | 19.19 | 7.35 | 7.24 | 33.08 | 11.63 | 7.51 | 10.58 | 7.02 | 13.21 | 15.61 | 16.03 | 2.40 | |
| VSMGX (VANGUA...R SHARES) | NA | 9.62 | 15.52 | 22.29 | 22.43 | NA | NA | 41.18 | 9.62 | 4.17 | 8.15 | 21.74 | 3.53 | 22.43 | 3.12 | 11.47 | 1.14 | 6.20 | 8.34 | 4.70 | 5.67 | 6.27 | 12.90 | 8.64 | 19.61 | 36.81 | 6.11 | 6.13 | 4.74 | 5.89 | 8.91 | 20.06 | 17.93 | 8.77 | 6.26 | 11.99 | 6.02 | 4.75 | 1.82 | 1.89 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | |
| Yield(%) | William Berns...llocation | NA | 3.53 | 3.13 | 2.96 | 2.70 | NA | NA | 2.78 | NA | 0.95 | 3.14 | 2.90 | 2.84 | 2.35 | 3.03 | 2.68 | 2.56 | 2.49 | 2.12 | 2.37 | 2.29 | 0.84 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| VFINX (VANGUA...R SHARES) | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | |
| VSMGX (VANGUA...R SHARES) | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
William Bernstein Sheltered Sam 60/40 Allocation Return Calculator
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Calculators
Dollar Cost Average Calculator for William Bernstein Sheltered Sam 60/40 Allocation
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Rolling Returns
From 10/16/2012 to 04/16/2025, the worst annualized return of 3-year rolling returns for William Bernstein Sheltered Sam 60/40 Allocation is 0.77%.
From 10/16/2012 to 04/16/2025, the worst annualized return of 5-year rolling returns for William Bernstein Sheltered Sam 60/40 Allocation is 2.51%.
From 10/16/2012 to 04/16/2025, the worst annualized return of 10-year rolling returns for William Bernstein Sheltered Sam 60/40 Allocation is 5.27%.
Maximum Drawdown
William Bernstein Sheltered Sam 60/40 Allocation Maximum Drawdown