Permanent Portfolio Backtest
Historical backtest of Harry Browne's Permanent Portfolio: equal 25% allocations to stocks (SPY), long-term Treasuries (TLT), gold (GLD), and cash (BIL), rebalanced annually.
Assumptions
- Permanent Portfolio (SPY/TLT/GLD/BIL): 25% BIL, 25% GLD, 25% SPY, 25% TLT, rebalanced annually.
- Total-return prices (dividends reinvested), annual rebalancing, no taxes, fees, or cash flows.
Results
| Portfolio | CAGR | Max drawdown | Volatility | Sharpe | Sortino | Calmar |
|---|---|---|---|---|---|---|
| Permanent Portfolio (SPY/TLT/GLD/BIL) | 6.8% | -17.8% | 7.4% | 0.73 | 1.04 | 0.38 |
Growth of $10,000
Run it yourself
Open this exact allocation in the live Portfolio Backtest tool to change the date range, add cash flows, compare against other portfolios, or switch on tax-aware mode. Free to run, no sign-up required.
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Historical simulation computed by the ArthaPilot backtest engine with total-return (dividends reinvested) prices and annual rebalancing, before taxes and fees. Past performance does not predict future results. This page is educational and is not investment, tax, or legal advice.