Ray Dalio All Weather Portfolio vs Harry Browne Permanent Portfolio Portfolio Comparison

Simulation Settings
Period: January 1871 - December 2024 (~154 years)
Consolidated Returns as of 31 December 2024
Rebalancing: at every Jan 1st
Currency: USD
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Results
30 Years
All (since January 1871)
Ray Dalio All Weather Portfolio
1.00$
Initial Capital
January 1995
9.18$
Final Capital
December 2024
7.67%
Yearly Return
7.47%
Std Deviation
-20.58%
Max Drawdown
36months*
Recovery Period
* in progress
1.00$
Initial Capital
January 1871
12.4K$
Final Capital
December 2024
6.31%
Yearly Return
6.56%
Std Deviation
-37.02%
Max Drawdown
68months
Recovery Period
Harry Browne Permanent Portfolio
1.00$
Initial Capital
January 1995
7.36$
Final Capital
December 2024
6.88%
Yearly Return
6.65%
Std Deviation
-15.92%
Max Drawdown
27months
Recovery Period
1.00$
Initial Capital
January 1871
6.1K$
Final Capital
December 2024
5.82%
Yearly Return
5.81%
Std Deviation
-30.61%
Max Drawdown
46months
Recovery Period

As of December 2024, in the previous 30 Years, the Ray Dalio All Weather Portfolio obtained a 7.67% compound annual return, with a 7.47% standard deviation. It suffered a maximum drawdown of -20.58% which has been ongoing for 36 months and is still in progress.

As of December 2024, in the previous 30 Years, the Harry Browne Permanent Portfolio obtained a 6.88% compound annual return, with a 6.65% standard deviation. It suffered a maximum drawdown of -15.92% that required 27 months to be recovered.

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Asset Allocations and ETFs

The compared portfolios have the following asset allocations.

Ray Dalio All Weather Portfolio
Weight
(%)		 ETF
Ticker		 Name
30.00
VTI
Vanguard Total Stock Market
40.00
TLT
iShares 20+ Year Treasury Bond
15.00
IEI
iShares 3-7 Year Treasury Bond
7.50
DBC
Invesco DB Commodity Tracking
7.50
GLD
SPDR Gold Trust
Harry Browne Permanent Portfolio
Weight
(%)		 ETF
Ticker		 Name
25.00
VTI
Vanguard Total Stock Market
25.00
BIL
SPDR Blmbg Barclays 1-3 Mth T-Bill
25.00
TLT
iShares 20+ Year Treasury Bond
25.00
GLD
SPDR Gold Trust
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Portfolio Returns as of Dec 31, 2024

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • rebalancing: at every Jan 1st.
  • dividend reinvestment, when applicable.
  • the actual US Inflation rates.
RETURN COMPARISON
Period: 1 January 1871 - 31 December 2024 (~154 years)
Swipe left to see all data
Return (%) as of Dec 31, 2024
YTD
(12M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~154Y)
//www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_ray_dalio.webp All Weather Portfolio
Ray Dalio 		6.36 -3.45 3.12 6.36 3.67 4.64 7.67 6.31
//www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_harry_browne.webp Permanent Portfolio
Harry Browne 		11.90 -2.51 5.82 11.90 5.72 5.52 6.88 5.82
Return over 1 year are annualized.
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Capital Growth as of Dec 31, 2024

Ray Dalio All Weather Portfolio: an investment of 1$, since January 1995, now would be worth 9.18$, with a total return of 817.52% (7.67% annualized).

Harry Browne Permanent Portfolio: an investment of 1$, since January 1995, now would be worth 7.36$, with a total return of 635.51% (6.88% annualized).


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Ray Dalio All Weather Portfolio: an investment of 1$, since January 1871, now would be worth 12400.51$, with a total return of 1239951.12% (6.31% annualized).

Harry Browne Permanent Portfolio: an investment of 1$, since January 1871, now would be worth 6108.03$, with a total return of 610703.32% (5.82% annualized).


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Portfolio Metrics as of Dec 31, 2024

The following metrics, updated as of 31 December 2024, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON
Period: 1 January 2024 - 31 December 2024 (1 year)
Period: 1 January 2020 - 31 December 2024 (5 years)
Period: 1 January 2015 - 31 December 2024 (10 years)
Period: 1 January 1995 - 31 December 2024 (30 years)
Period: 1 January 1871 - 31 December 2024 (~154 years)
Swipe left to see all data
All Weather Portfolio Permanent Portfolio
Author Ray Dalio Harry Browne
ASSET ALLOCATION
Stocks 30% 25%
Fixed Income 55% 50%
Commodities 15% 25%
PERFORMANCES
Annualized Return (%) 6.36 11.90
Infl. Adjusted Return (%) 3.77 9.18
DRAWDOWN
Deepest Drawdown Depth (%) -3.73 -2.51
Start to Recovery (months) 3 1*
Longest Drawdown Depth (%) -0.52 -0.53
Start to Recovery (months) 3 2
Longest Negative Period (months) 4 3*
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 8.02 6.10
Sharpe Ratio 0.15 1.10
Sortino Ratio 0.18 1.40
Ulcer Index 1.55 0.87
Ratio: Return / Standard Deviation 0.79 1.95
Ratio: Return / Deepest Drawdown 1.71 4.74
Metrics calculated over the period 1 January 2024 - 31 December 2024
Swipe left to see all data
All Weather Portfolio Permanent Portfolio
Author Ray Dalio Harry Browne
ASSET ALLOCATION
Stocks 30% 25%
Fixed Income 55% 50%
Commodities 15% 25%
PERFORMANCES
Annualized Return (%) 3.67 5.72
Infl. Adjusted Return (%) -0.43 1.54
DRAWDOWN
Deepest Drawdown Depth (%) -20.58 -15.92
Start to Recovery (months) 36* 27
Longest Drawdown Depth (%) -20.58 -15.92
Start to Recovery (months) 36* 27
Longest Negative Period (months) 46 40
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 10.50 8.70
Sharpe Ratio 0.13 0.39
Sortino Ratio 0.17 0.55
Ulcer Index 9.53 5.91
Ratio: Return / Standard Deviation 0.35 0.66
Ratio: Return / Deepest Drawdown 0.18 0.36
Metrics calculated over the period 1 January 2020 - 31 December 2024
Swipe left to see all data
All Weather Portfolio Permanent Portfolio
Author Ray Dalio Harry Browne
ASSET ALLOCATION
Stocks 30% 25%
Fixed Income 55% 50%
Commodities 15% 25%
PERFORMANCES
Annualized Return (%) 4.64 5.52
Infl. Adjusted Return (%) 1.63 2.48
DRAWDOWN
Deepest Drawdown Depth (%) -20.58 -15.92
Start to Recovery (months) 36* 27
Longest Drawdown Depth (%) -20.58 -15.92
Start to Recovery (months) 36* 27
Longest Negative Period (months) 46 40
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 8.50 7.37
Sharpe Ratio 0.36 0.53
Sortino Ratio 0.49 0.76
Ulcer Index 7.07 4.70
Ratio: Return / Standard Deviation 0.55 0.75
Ratio: Return / Deepest Drawdown 0.23 0.35
Metrics calculated over the period 1 January 2015 - 31 December 2024
Swipe left to see all data
All Weather Portfolio Permanent Portfolio
Author Ray Dalio Harry Browne
ASSET ALLOCATION
Stocks 30% 25%
Fixed Income 55% 50%
Commodities 15% 25%
PERFORMANCES
Annualized Return (%) 7.67 6.88
Infl. Adjusted Return (%) 5.02 4.25
DRAWDOWN
Deepest Drawdown Depth (%) -20.58 -15.92
Start to Recovery (months) 36* 27
Longest Drawdown Depth (%) -20.58 -15.92
Start to Recovery (months) 36* 27
Longest Negative Period (months) 46 40
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 7.47 6.65
Sharpe Ratio 0.72 0.69
Sortino Ratio 0.96 0.96
Ulcer Index 4.45 3.20
Ratio: Return / Standard Deviation 1.03 1.03
Ratio: Return / Deepest Drawdown 0.37 0.43
Metrics calculated over the period 1 January 1995 - 31 December 2024
Swipe left to see all data
All Weather Portfolio Permanent Portfolio
Author Ray Dalio Harry Browne
ASSET ALLOCATION
Stocks 30% 25%
Fixed Income 55% 50%
Commodities 15% 25%
PERFORMANCES
Annualized Return (%) 6.31 5.82
Infl. Adjusted Return (%) 4.10 3.63
DRAWDOWN
Deepest Drawdown Depth (%) -37.02 -30.61
Start to Recovery (months) 68 46
Longest Drawdown Depth (%) -37.02 -14.17
Start to Recovery (months) 68 53
Longest Negative Period (months) 84 80
RISK INDICATORS
Standard Deviation (%) 6.56 5.81
Sharpe Ratio 0.35 0.31
Sortino Ratio 0.50 0.47
Ulcer Index 4.58 3.52
Ratio: Return / Standard Deviation 0.96 1.00
Ratio: Return / Deepest Drawdown 0.17 0.19
Metrics calculated over the period 1 January 1871 - 31 December 2024
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Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

DRAWDOWN COMPARISON
Period: 1 January 1995 - 31 December 2024 (30 years)
Period: 1 January 1871 - 31 December 2024 (~154 years)

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All Weather Portfolio Permanent Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-20.58 36* Jan 2022
In progress
-15.92 27 Jan 2022
Mar 2024
-12.63 18 Mar 2008
Aug 2009
-11.57 9 Jan 2009
Sep 2009
-11.38 6 Jul 2008
Dec 2008
-6.98 13 Aug 2016
Aug 2017
-6.86 17 Oct 2012
Feb 2014
-6.73 15 Feb 2015
Apr 2016
-6.66 17 Feb 2015
Jun 2016
-6.42 13 Aug 2016
Aug 2017
-5.43 19 Sep 2000
Mar 2002
-5.34 4 Jul 1998
Oct 1998
-5.29 9 May 2013
Jan 2014
-4.83 4 Jul 1998
Oct 1998
-4.76 6 Apr 2004
Sep 2004

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All Weather Portfolio Permanent Portfolio
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-37.02 68 Sep 1929
Apr 1935
-30.61 46 Sep 1929
Jun 1933
-20.58 36* Jan 2022
In progress
-17.43 37 Mar 1937
Mar 1940
-15.92 27 Jan 2022
Mar 2024
-14.17 53 Mar 1937
Jul 1941
-12.98 25 Dec 1968
Dec 1970
-12.63 18 Mar 2008
Aug 2009
-12.31 21 Dec 1980
Aug 1982
-11.68 21 Dec 1980
Aug 1982
-11.57 9 Jan 2009
Sep 2009
-11.38 5 Feb 1980
Jun 1980
-11.38 6 Jul 2008
Dec 2008
-11.15 10 Apr 1974
Jan 1975
-11.04 11 Mar 1974
Jan 1975

Rolling Returns

By selecting the 'Rolling Period', the chart and data will update. To study a different date range, change the Simulation Settings.

You can explore the Rolling Returns for a single portfolio, or check the return differential, by switching on "Head To Head" toggle.

Rolling Returns Comparison
Annualized Rolling Returns Chart
Rolling Returns Chart - Inflation Adjusted
Time Period: 1 January 1871 - 31 December 2024 (~154 years)


Head To Head (Ptf 1 vs Ptf 2):
US Inflation Adjusted:

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Yearly Returns

For each year, the following table provides the return and intra-year drawdown. The highlighted returns represent the highest values for that specific year.

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All Weather Portfolio Permanent Portfolio
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2024
 6.36 -3.73 11.90 -2.51
2023
 9.95 -9.25 11.55 -5.68
2022
 -18.39 -20.58 -12.53 -15.92
2021
 8.27 -3.74 4.21 -4.43
2020
 15.88 -3.68 16.10 -3.30
2019
 17.93 -0.83 16.17 -1.10
2018
 -3.02 -4.71 -1.76 -4.25
2017
 11.55 -0.49 10.97 -0.83
2016
 6.50 -6.42 5.54 -6.98
2015
 -3.23 -6.66 -3.06 -6.73
2014
 12.89 -2.52 9.40 -2.62
2013
 1.71 -5.29 -2.08 -6.04
2012
 7.02 -1.33 6.41 -1.83
2011
 15.64 -2.00 11.11 -1.85
2010
 12.88 -0.69 13.92 -0.53
2009
 2.71 -11.57 7.85 -6.22
2008
 2.38 -11.38 0.87 -12.63
2007
 11.88 -1.20 12.69 -1.20
2006
 6.93 -1.71 10.94 -2.12
2005
 8.55 -2.99 8.91 -1.25
2004
 9.41 -4.76 6.83 -4.20
2003
 13.96 -4.74 13.32 -2.34
2002
 7.77 -1.56 5.85 -4.02
2001
 -2.77 -4.61 -0.52 -4.13
2000
 10.15 -2.26 2.40 -3.23
1999
 6.28 -3.79 5.17 -3.54
1998
 11.05 -4.83 10.09 -5.34
1997
 13.54 -2.89 7.19 -2.33
1996
 8.27 -2.11 5.08 -2.02
1995
 27.44 0.00 18.11 0.00
1994
 -3.28 -6.83 -1.37 -3.63
1993
 12.02 -1.98 12.00 -0.99
1992
 6.76 -2.23 3.57 -1.77
1991
 17.98 -1.86 11.72 -0.88
1990
 3.85 -5.51 1.11 -4.53
1989
 20.45 -1.14 12.90 -1.18
1988
 10.59 -1.93 4.39 -1.50
1987
 3.47 -8.78 7.42 -5.78
1986
 20.56 -3.75 17.64 -1.28
1985
 28.68 -2.13 20.47 -2.05
1984
 8.03 -6.61 2.22 -3.58
1983
 7.06 -3.16 3.46 -2.83
1982
 31.65 -3.13 23.27 -5.51
1981
 -3.74 -11.76 -5.34 -9.88
1980
 10.35 -10.89 13.65 -11.38
1979
 19.26 -6.57 39.77 -4.50
1978
 7.24 -3.43 12.78 -5.31
1977
 2.14 -2.83 6.43 -2.00
1976
 15.78 -1.12 11.22 -2.75
1975
 12.93 -5.16 6.98 -7.00
1974
 1.78 -11.04 12.43 -11.15
1973
 6.67 -2.66 15.65 -6.85
1972
 14.50 0.00 18.84 -1.56
1971
 14.60 -3.81 12.86 -1.09
1970
 10.73 -7.59 7.89 -4.68
1969
 -7.07 -8.33 -6.38 -8.20
1968
 5.61 -2.31 9.27 -1.10
1967
 4.93 -2.43 6.11 -1.37
1966
 -0.21 -6.05 -0.04 -3.86
1965
 4.08 -1.14 4.59 -0.95
1964
 7.34 -0.33 6.00 -0.25
1963
 6.73 -1.03 6.05 -0.74
1962
 0.34 -6.12 -0.23 -4.93
1961
 7.57 -1.53 6.50 -1.00
1960
 8.59 -1.47 5.64 -1.14
1959
 1.91 -2.83 2.72 -1.85
1958
 9.85 -0.95 9.97 -0.31
1957
 1.56 -3.70 0.57 -2.86
1956
 0.45 -3.72 1.35 -2.43
1955
 6.44 -0.66 6.24 -0.67
1954
 17.99 -1.18 14.12 -0.94
1953
 0.83 -4.42 -0.87 -4.16
1952
 4.21 -1.76 3.37 -1.26
1951
 4.78 -2.55 4.37 -1.85
1950
 9.14 -1.91 7.47 -1.53
1949
 8.58 -0.97 6.13 -1.15
1948
 1.89 -3.09 1.16 -2.70
1947
 1.53 -1.94 3.61 -1.52
1946
 -0.92 -7.07 -0.66 -5.77
1945
 15.78 -0.88 12.40 -0.87
1944
 7.97 -0.39 5.95 -0.36
1943
 9.97 -2.77 8.33 -2.35
1942
 6.45 -3.58 5.04 -3.00
1941
 -1.20 -4.99 -1.49 -3.80
1940
 1.87 -7.70 -0.01 -6.09
1939
 2.79 -3.74 1.75 -3.29
1938
 10.37 -7.91 8.45 -6.59
1937
 -10.07 -12.18 -8.65 -10.20
1936
 14.42 -2.08 10.39 -1.85
1935
 16.55 -1.39 12.79 -1.85
1934
 8.27 -3.11 5.72 -3.27
1933
 23.55 -7.04 28.60 -5.74
1932
 5.54 -10.85 2.17 -10.03
1931
 -17.79 -21.07 -12.64 -16.23
1930
 -5.90 -10.68 -4.39 -9.07
1929
 -1.20 -10.34 -0.83 -9.26
1928
 11.11 -1.64 10.25 -1.14
1927
 14.04 -1.26 11.58 -1.05
1926
 6.53 -2.18 5.78 -1.79
1925
 10.80 -1.86 8.98 -1.51
1924
 13.10 -0.48 10.18 -0.44
1923
 4.44 -3.38 3.65 -2.70
1922
 12.65 -1.45 9.97 -1.17
1921
 9.83 -2.12 8.74 -1.62
1920
 -5.55 -5.68 -1.56 -2.72
1919
 5.81 -2.69 6.55 -2.10
1918
 7.85 -0.84 7.63 -0.71
1917
 -7.65 -7.65 -4.88 -4.88
1916
 7.39 -0.65 4.56 -0.66
1915
 14.08 -0.61 10.27 -0.48
1914
 0.88 -4.99 1.02 -3.96
1913
 -0.05 -2.01 0.91 -1.08
1912
 3.48 -1.15 3.57 -0.83
1911
 3.28 -2.93 2.86 -2.33
1910
 0.15 -3.13 0.96 -1.93
1909
 6.57 -0.53 5.56 -0.47
1908
 16.74 -0.51 13.65 -0.55
1907
 -8.40 -8.70 -5.24 -5.97
1906
 0.59 -3.33 1.58 -1.96
1905
 7.83 -1.78 6.99 -1.27
1904
 12.56 -0.84 10.35 -0.56
1903
 -4.67 -7.60 -2.87 -5.48
1902
 3.24 -2.40 3.72 -1.71
1901
 6.47 -2.76 6.40 -2.12
1900
 8.45 -1.38 7.28 -1.02
1899
 2.72 -2.13 2.46 -1.66
1898
 11.99 -4.26 9.71 -2.16
1897
 9.70 -0.85 7.76 -0.96
1896
 2.87 -5.53 3.16 -3.48
1895
 2.80 -4.23 2.81 -2.88
1894
 4.58 -1.05 3.47 -0.91
1893
 -4.72 -9.21 -2.22 -6.13
1892
 3.45 -0.93 3.62 -0.58
1891
 7.45 -2.60 6.97 -1.39
1890
 -1.50 -4.15 -0.21 -2.89
1889
 5.38 -0.71 4.74 -0.41
1888
 4.41 -1.57 3.54 -0.99
1887
 -0.36 -4.08 1.07 -2.41
1886
 5.02 -1.39 5.01 -0.83
1885
 11.99 -0.98 10.08 -0.41
1884
 -1.97 -5.63 -0.61 -3.78
1883
 0.14 -2.08 0.77 -1.33
1882
 3.24 -1.91 3.35 -1.31
1881
 3.46 -3.20 2.94 -1.91
1880
 12.13 -2.30 9.92 -1.87
1879
 17.34 -0.47 14.82 -0.23
1878
 7.44 -0.16 6.08 -0.22
1877
 1.94 -4.81 1.31 -4.59
1876
 -0.20 -3.96 -1.26 -2.91
1875
 7.61 -1.41 6.22 -0.40
1874
 7.35 -1.45 5.61 -0.80
1873
 1.49 -7.70 1.85 -4.51
1872
 5.32 -2.48 6.24 -0.91
1871
 8.01 -1.75 6.83 -1.19
Mastering Etf Investing
The first official book of
Mastering ETF Investing
Build wealth
with Lazy Portfolios and Passive Investing
Buy now
English book
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Italian book