Backtest Portfolio Returns Rev11a

This is a spreadsheet to backtest portfolio returns from 1972-2011 [1985-2011 if you want to includ
The worksheet Portfolio is a simple way to change the allocations of various funds. It provides the CAGR/total/Sharpe Ratio et
sample portfolios like Coffeehouse and draws charts to compare the growth.
The worksheet Returns_72_11 calculates portfolio returns (total/cagr/sharpe ratio/correlation etc) for funds from 1972-2011
The worksheet Returns_85_11 calculates portfolio returns (total/cagr/sharpe ratio/correlation etc) for funds[includes sector fund
The worksheet Data_72_11 includes the returns of various funds from 1972-2011
The worksheet Data_85_11 includes the returns of various funds from 1985-2011 (to include many of the funds that were starte
The worksheet Data_Sources lists the sources of the various fund returns
The worksheet Compare_Portfolios allows you to compare upto 5 different portfolios for 1972-2011 and 1985-2011 with the abi
The Spreadsheet also includes the total/cagr etc for a portfolio that's rebalanced annually (default) and one that is not rebalanc
charts reflect both the returns.
It's now easier to compare different portfolios for the user defined time periods
You can also change the percentage allocations of any fund. If the total doesn't add up to 100% then you would see an ERROR
The worksheet Lazy_Portfolios_85 compares 25 lazy portfolios and shows a chart with the risk/return for all the 25 lazy portfo
You can change the time period for comparing the lazy portfolios in cells E4 and E5 in the Lazy_Portfolios_85 worksheet
Things you can change: (Cells that can be changed have
pale blue
1 - %allocation of funds in worksheet Portfolio

2 - You can change the Starting Year in Cell B57/K57 in worksheet Portfolio
3 - You can change the Ending Year in Cell B58/K58 in worksheet Portfolio
4 - Initial investment for your portfolio
5 - MAR (Minimum Acceptable Return) returns [Used in calculating Sortino Ratios]
6 - Expense ratio for the funds using Index Returns/Synthetic returns in Data_72_11 and Data_85_11 worksheets
For example to calculate the returns from 1981-1990
change cell B57 (for Starting Year) to 1981 in worksheet Portfolio
change cell B58 (for Ending Year) to 1990 in worksheet Portfolio
The spreadsheet would return the porfolio return over the period 1981-1990.
To calculate returns for a portfolio that includes sector funds (Health/P. Metals/Energy) or Windsor II funds from 1991-2000
Change your allocation to include the sector funds
change cell K57 to 1991 in worksheet Portfolio
change cell K58 to 2000 in worksheet Portfolio
The spreadsheet would return the porfolio return over the period 1991-2000.
Adding returns for additional Funds
Lets say you want to enter returns for a Fund in the worksheet Data_85_10
1. Enter Fund Name in cell AQ1 in Data_85_10

2. Enter Fund Symbol in cell AQ2
3. Enter ER (Expense Ratio) in cell AQ3
4. Enter starting year for the Fund in cell AQ4
5. Add the fund returns in cell cell AQ56
6. If you have returns for the Fund from inception then there is no ER deduction but if you are using synthetic returns then the E
no ER to be deducted, then enter an ER of 0 in cell AQ3
DISCLAIMER
Please use this spreadsheet only for learning purposes and as a need for diversification. Don't change your Asset Allocation pu
Past returns are not indicative of future returns.

For comments/Feedback/updates visit
http://www.bogleheads.org/forum/viewtopic.php?t=2520
Visit the Bogleheads Forum - http://www.bogleheads.org
Version # rev11a
Regards,
Simba
Revision History
Rev11a
1. Added the returns for 2011
2. Fixed sharpe ratio in Data_72_11 and Data_85_11
3. Updated conditional formating for Portfolio returns
4. Updated the formulas in Data_72_11 and Data_85_11 so it doesn't reflect 0.00 for the future years/undefined funds/columns
5. Updated the conditioning formating for Max drawdown
Rev10c
1. Corrected the symbol for VG International Small from VFWIX to VFSVX
2. Corrected the returns for VUSXX (Admiral Treasury Money Market / Tbills)
3. Corrected the chart data for Rolling Returns (Nominal and Real) for 1985-2010 charts.
Rev10b
1. Added a Chart for 3, 5, 10 and 15 year Rolling Returns for both Nominal and Real Returns
2. Rolling Returns Chart has the checkbox option to display either 3,5,10, 15 or all the Rolling Returns
3. Updated the portfolio composition for Fund Advice Ultimate Buy & Hold in Lazy_Portfolios_85 worksheet
Rev10a
2. Replaced VINEX with VFWIX from 2010 onwards
3. Fixed Correlations table in Data_72_10 and Data_85_10
4. Fixed Sharpe Ratio in Returns_85_10
Rev9b
1. Fixed a typo and modified 2008 to 2010 in worksheet Lazy_Portfolios_85
2. Added the returns for PCRIX, PGLIX and BRSIX
3. Corrected the 2009 returns for VBMFX
4. Added returns for International Small
5. Fixed the data point for Portfolio 2 in the CAGR vs Std Dev chart in Lazy_Portfolios_85 worksheet
Rev9a
2. Added Return vs. Risk charts at bottom of Portfolio worksheet (Thanks to Paul Douglas Boyer)
3. Moved the data from SP_72_10 and SP_85_10 to the Returns_72_10 and Returns_85_10 worksheets.
4. Moved the Portfolio comparison section from Portfolio worksheet to Compare_Portfolios worksheet
5. Updated the source/returns for Gold
Rev8i
1. Corrected the returns for BRSIX,VMGIX for 2008
2. Corrected the formula to deduct the ER's. Earlier I was using (ActualReturns-Inflation). The new formula uses (ActualReturn3. Corrected the Std deviation for Unrebalanced_Returns in Returns_72_10 tab
Rev8h
1. Corrected the Formula to calculate the total real value for rebalanced portfolio in the Compare Portfolio section
2. Corrected the Formula to calculate the un-rebalanced returns in Returns_72_10 and Returns_85_10 for 2008 and higher yea
3. Fixed a typo for Down SD in the Compare Portfolio section for 1985-2008
4. Fixed the formula for Sortino Ratio in SP_72_10 and SP_85_10 worksheets
Rev8g
1. Corrected the Sortino Formula in Returns_72_10 and Returns_85_10
Rev8f
1. Fixed CAGR formula for Comparing 72-08 portfolios
2. Updated the Compare Portfolio section to now have the ability to select different time periods instead of the fixed 1972-2008
3. Fixed Correlation for CHP and SBFS in SP_72_10 and SP_85_10
4. Charts in Excel spreadsheet now have dynamic titles that reflect the time period being tested
5. The unrebalanced calculations now include the time period being tested instead of the entire 1972-2008 or 1985-2008 time p
6. User can now change the time period for comparing the Lazy Portfolios
7. The correlations in the Lazy Portfolio are now time period dependent instead of being fixed for the entire period
8. Updated the formula for Sortino Ratio
9. Updated the formula for Sharpe Ratio to calculate Tbill average only for the time period being tested instead of the entire per
Rev8e
1. Sharpe Ratio uses the average of Tbill for the selected Time period instead of using the average for the entire 1972-2008 or
2. Fixed the formula used for 2008 and onwards returns in Returns_85_10 worksheet
3. Fixed the formula used for 2010 and onwards returns in Returns_72_10 worksheet
[1985-2011 if you want to include Sector/Tax-Exempt funds]
ides the CAGR/total/Sharpe Ratio etc. It also compares your portfolio to
on etc) for funds from 1972-2011

on etc) for funds[includes sector funds] from 1985-2011
de many of the funds that were started in 1984)
72-2011 and 1985-2011 with the abilty to change the starting and ending years.
default) and one that is not rebalanced (un-rebalanced) and the
100% then you would see an ERROR.
e risk/return for all the 25 lazy portfolios.

Lazy_Portfolios_85 worksheet
pale blue
background)
ata_85_11 worksheets
Windsor II funds from 1991-2000
are using synthetic returns then the ER is deducted from the returns. If you want
on't change your Asset Allocation purely based on historical returns.
uture years/undefined funds/columns
ns
ng Returns
os_85 worksheet
worksheet
Boyer)
10 worksheets.
worksheet
The new formula uses (ActualReturn-Inflation)/(1+Inflation%)
mpare Portfolio section

turns_85_10 for 2008 and higher years
riods instead of the fixed 1972-2008 or 1985-2008
ested
ntire 1972-2008 or 1985-2008 time periods
ed for the entire period
being tested instead of the entire period
average for the entire 1972-2008 or 1985-2008 periods.
To calculate portfolio returns from 1972-2011, Enter fund allocations here
Starting Allocation
Total US Market - TSM

Large Cap Value - LCV
Large Cap Blend - LCB
Large Cap Growth - LCG
Mid-Cap Blend - MCB
Small Cap Value - SCV
Small Cap Blend - SCB
Small Cap Growth - SCG
Micro Cap
REIT
Intl Developed - EAFE
Emerging Mkt - EM
Total_Intl - EAFE85/EM15
Intl Pacific
Intl Europe
Intl.Value
Commodities
Long Term Govt Bond - LTGB
5 Yr T-Bills
Total Bond
Tbills/Treasury Money Mkt
Synthetic TIPS
Wellington - Balanced
Wellesley - Balanced
Windsor
2 Year ST Treasury
GOLD
VG Intl Small
VTSMX
VIVAX
VFINX
VIGRX
VIMSX
VISVX
NAESX
VISGX
BRSIX
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
PCRIX
VUSTX
VFITX
VBMFX
VUSXX
VIPSX
VWELX
VWINX
VWNDX
VFISX
GLD
VFSVX
Ending
Allocation if
not
rebalanced
66.00%
45.31%
66.00%
23.32%
66.00%
31.37%
198% ERROR
100%
# of Years for backtest

Starting Year for backtest
Ending Year for backtest
Initial Investment
MAR Nominal
MAR Real
40
1972
2011
4000
5%
2%
Total
Portfolio Growth - Nominal

Portfolio Growth - Real
Coffee House - Nominal
Coffee House - Real
Portfolio Growth without
Rebalancing (Nominal)
Rebalancing (Real)
Avg TBill Return (Nominal) =

Avg TBill Return (Real) =
CAGR
Sharpe
Ratio
Std.Dev
Sortino
Ratio
5.41%
0.97%
C-US
ERROR
$1,028,971
$529,519
$38,575
#VALUE!
14.88
10.43
5.83
20.58
18.65
11.27
11.32
0.78
0.82
0.50
0.48
3.00
2.45
1.03
0.68
0.40
0.44
0.91
0.89
ERROR
#VALUE!
17.66
0.28
0.66
0.25
ERROR
#VALUE!
15.34
0.30
0.43
0.30
$6,000,000
Portfolio Growth (Nominal) 1972 - 2011

Portfolio Rebalanced
CHP
Portfolio UnBalanced
$5,000,000
CHP Nominal (Rebalanced) = 529519.03
$4,000,000
Portfolio Nominal (Unbalanced) = ERROR

$3,000,000
Portfolio Nominal (Rebalanced) = ERROR
$2,000,000
$1,000,000
$1,200,000
2008
2006
2004
2002
2000
1998
1996
1994
1992
1990
1988
1986
1984
1982
1980
1978
1976
1974
1972
$0
$1,200,000
Portfolio Growth (Real) 1972 - 2011

CHP
Portfolio Unbalanced
$1,000,000
Portfolio Real (Rebalanced) = 1028971.45

CHP Real (Rebalanced) = 38574.76
$800,000
Portfolio Real (Unbalanced) = ERROR

$600,000
$400,000
$200,000
2009
2008
2008
2006
2007
2006
2004
2005
2004
2002
2003
2002
2000
2001
2000
1998
1999
1998
1997
1996
1996
1994
1995
1994
1992
1993
1990
1992
1991
1988
1990
1989
1986
1988
1987
1986
1985
1984
1982
1984
1983
1980
1982
1981
1978
1980
1979
1976
1978
1977
1974
1976
1975
1974
1973
1972
1972
$0
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Avg. Drawdown Rebalanced = 1.0%
Avg. Drawdown Unbalanced = 4.6%
Max. Drawdown Rebalanced = 23.2%

Max. Drawdown Unbalanced = 27.8%
30.0%
Rolling Returns (Nominal) 1972 - 2011

60.00%
3-Year Rolling Returns
50.00%
40.00%
30.00%
20.00%
Rolling Returns (Real) 1972 - 2011

35.00%
3-Year Rolling Returns [Real]

5-Year Rolling Returns[Real]
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
10.00%
0.00%
5.00%
To calculate portfolio returns from 1985-2011, Enter the fund allocations here
Starting
Allocation

Mid-Cap Blend - MCB
Micro Cap
REIT
Emerging Mkt - EM
Intl Pacific
Intl Europe
Intl.Value
Commodities
5 Yr T-Bills
Total Bond
Synthetic TIPS
Energy Fund
Health Care Fund
Precious Metals Fund
Windsor
Windsor II
Short term Tax Exempt
Inter Tem Tax Exempt
Long Term Tax Exempt
High Yield Corp
2 Year ST Treasury
Mid-Cap Growth Index
Mid-Cap Value Index
VG Extended Market
Global Bond Fund
ST Investment Grade
GOLD
VG Intl Small
VTSMX
VIVAX
VFINX
VIGRX
VIMSX
VISVX
NAESX
VISGX
BRSIX
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
PCRIX
VUSTX
VFITX
VBMFX
VUSXX
VIPSX
VWELX
VWINX
VGENX
VGHCX
VGPMX
VWNDX
VWNFX
VWSTX
VWITX
VWLTX
VWEHX
VFISX
VMGIX
VMVIX
VEXMX
PIGLX
VFSTX
GLD
VFSVX
Ending
Allocation if
not
rebalanced
50.00%
52.16%
30.00%
36.71%
20.00%
11.14%
100%
# of Years for backtest
Initial Investment
MAR Nominal
MAR Real
27
1985
2011
10000
5%
2%
C-Intl
0.32
0.36
0.68
0.67
0.18
0.23
100%
Total
Portfolio Growth - Nominal
Portfolio Growth - Real
Coffee House - Nominal
Coffee House - Real
Rebalancing (Nominal)
Rebalancing (Real)

CAGR
Std. Dev
Sortino
Sharpe Ratio Ratio
$141,056
$65,817
$49,247
$57,447
10.30
7.23
9.74
10.37
15.30
14.88
10.97
10.70
0.47
0.47
0.56
0.56
0.73
0.76
0.91
0.94
$123,712
9.76
17.08
0.41
0.59
$57,724
6.71
16.62
0.41
0.60
$160,000

$140,000
CHP
$120,000
Portfolio Nominal (Rebalanced) = 141055.71

$100,000
Portfolio Nominal (Unbalanced) = 123711.93

$80,000
$60,000
$40,000
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
$0
1985
2010
$20,000

$80,000
CHP
$70,000

$60,000

Portfolio Real (Unbalanced) = 57724.45
$50,000
$40,000
$30,000
$20,000
$10,000
-Year Rolling Returns
2007
2007
2005
2005
2003
2003
2001
2001
1999
1999
1997
1997
1995
1995
1993
1993
1991
1991
1989
1989
1987
1987
1985
1985
2011
2010
2009
2010
$0
0.0%
5.0%
10.0%
15.0%
Avg. Drawdown Rebalanced = 4.0%
20.0%
25.0%
30.0%

35.0%
40.0%

30.00%
5-Year Rolling Retur
25.00%
15-Year Rolling Retu
20.00%
15.00%
10.00%
5.00%
2005
2003
2001
1999
1997
1995
1993
1991
1989
1987
1985
0.00%
-5.00%
-10.00%
-15.00%
Year Rolling Returns
15-Year Rolling Retur

25.00%

20.00%
15.00%
10.00%
5.00%
-5.00%
-10.00%
2005
2003
2001
1999
1997
1995
1993
1991
1989
1987
1985
0.00%
-15.00%
Year Rolling Returns
15-Year Rolling Return
4.16%
1.25%
C-US
C-Intl
0.93
0.93
0.90
0.89
0.90
0.89
0.74
0.73
0.91
0.92
0.91
0.92
2011
2010
2009
2008
2007
2006


2007
2009
2011
2007
2009
2011
2009
2007
2005
2009
2007
2005
minal) 1985 - 2011

al) 1985 - 2011
inal) 1985 - 2011
) 1985 - 2011
To compare portfolios from 1972-2011, Enter fund allocations here
Compare 5 portfolios
P1
Mid-Cap Blend - MCB
Micro Cap
REIT
Emerging Mkt - EM
Intl Pacific
Intl Europe
Intl.Value
Commodities
5 Yr T-Bills
Total Bond
Synthetic TIPS
Windsor
2 Year ST Treasury
GOLD
VG Intl Small
VTSMX
VIVAX
VFINX
VIGRX
VIMSX
VISVX
NAESX
VISGX
BRSIX
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
PCRIX
VUSTX
VFITX
VBMFX
VMPXX
VIPSX
VWELX
VWINX
VWNDX
VFISX
GLD
P2
P3
P4
P5
65.00%
25.00%
50.00%
80.00% 100.00%
65.00%
25.00%
50.00%
20.00%
65.00%
25.00%
25.00%
195%
100%
100%
100%
VFSVX
100%
Compare 5 Portfolios
Initial Investment for comparing portfolios
# of Years backtesting
Offset
MAR Nominal
MAR Real
Average
Std. Dev.
Down SD
Up SD
CAGR
Sharpe
Sortino
US Mkt. Corr.
Intl. Corr.
Total - Rebalanced (N)
Total-Unbalanced (N)
Total - Rebalanced (Real)
10000
1972
2011
40
0
5%
2%
10000
10000
10000
1972
1972
1972
2011
2011
2011
40
40
40
0
0
0
10000
1972
2011
40
0
5.41%
0.97%
P1
P2
P3
P4
P5
23.42%
10.81%
11.97%
13.66%
14.79%
20.61%
8.16%
12.17%
16.94%
20.86%
4.63%
2.25%
5.13%
8.23%
10.68%
17.31%
6.90%
8.55%
10.06%
12.11%
21.85%
10.53%
11.32%
12.36%
12.79%
0.87
0.66
0.54
0.49
0.45
3.97
2.59
1.36
1.05
0.92
0.31
0.32
0.68
0.75
0.76
0.24
0.22
0.35
0.45
0.47
27140422
548452
728080
1059162
1231297
1170070
489028
748530
1038190
1231297
4942859
99885
132599
192896
224246
Annualized Return
Portfolios Return vs. Risk

23.00%
22.80%
22.60%
22.40%
22.20%
22.00%
21.80%
21.60%
21.40%
21.20%
21.00%
20.80%
20.60%
20.40%
20.20%
20.00%
19.80%
19.60%
19.40%
19.20%
19.00%
18.80%
18.60%
18.40%
18.20%
18.00%
17.80%
17.60%
17.40%
17.20%
17.00%
16.80%
16.60%
16.40%
16.20%
16.00%
15.80%
15.60%
15.40%
15.20%
15.00%
14.80%
14.60%
14.40%
14.20%
14.00%
13.80%
13.60%
13.40%
13.20%
13.00%
12.80%
12.60%
12.40%
12.20%
12.00%
11.80%
11.60%
11.40%
11.20%
11.00%
10.80%
10.60%
10.40%
10.20%
10.00%
9.80%
9.60%
9.40%
9.20%
9.00%
8.80%
8.60%
8.40%
8.20%
8.00%
7.80%
7.60%
7.40%
7.20%
7.00%
6.80%
6.60%
6.40%
6.20%
6.00%
5.80%
5.60%
5.40%
5.20%
5.00%
4.80%
4.60%
4.40%
4.20%
4.00%
3.80%
3.60%
3.40%
3.20%
3.00%
2.80%
2.60%
2.40%
2.20%
2.00%
1.80%
1.60%
1.40%
1.20%
1.00%
0.80%
0.60%
0.40%
0.20%
0.00%
0.00%
5.00%
10.00%
15.00%
Annualized Standard Deviation
20.00%
25.00%
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
39.55%
16.12%
6.09%
6.49%
6.75%
28.41%
12.38%
-13.76%
-21.21%
-26.17%
37.54%
16.64%
-7.13%
-13.88%
-18.39%
23.04%
10.77%
31.53%
45.10%
54.15%
42.42%
18.47%
34.87%
45.90%
53.25%
27.76%
11.54%
10.28%
17.02%
21.52%
36.74%
15.44%
10.03%
16.93%
21.52%
103.53%
42.35%
16.82%
27.78%
35.09%
23.13%
12.35%
10.43%
19.24%
25.11%
-10.79%
0.50%
8.14%
12.04%
14.64%
53.77%
25.48%
34.12%
30.57%
28.21%
14.35%
7.60%
19.36%
30.71%
38.28%
-1.46%
2.56%
8.63%
4.69%
2.07%
43.30%
19.88%
30.68%
30.69%
30.70%
33.90%
15.94%
15.67%
10.56%
7.15%
7.30%
4.24%
-5.25%
-6.49%
-7.31%
14.79%
7.10%
19.18%
25.19%
29.20%
17.45%
8.82%
15.04%
13.30%
12.14%
-11.74%
-2.36%
-8.10%
-16.43%
-21.98%
31.44%
14.70%
29.40%
36.59%
41.37%
19.55%
9.14%
18.10%
24.52%
28.80%
37.38%
15.98%
20.15%
22.17%
23.52%
-7.36%
-2.97%
-4.38%
-2.79%
-1.73%
36.53%
17.08%
27.81%
26.43%
25.51%
9.69%
4.82%
9.94%
16.65%
21.12%
15.39%
7.52%
22.70%
27.98%
31.50%
3.32%
3.12%
3.17%
-2.76%
-6.71%
-3.31%
-0.81%
-2.77%
0.76%
3.11%
23.26%
11.15%
20.80%
21.45%
21.88%
11.99%
6.56%
9.01%
11.82%
13.70%
17.83%
8.86%
1.24%
-8.03%
-14.20%
38.35%
15.34%
19.94%
30.29%
37.19%
22.85%
9.05%
15.34%
20.26%
23.55%
19.79%
8.05%
6.34%
6.18%
6.07%
27.90%
11.68%
10.49%
15.74%
19.24%
21.28%
10.16%
1.09%
-3.81%
-7.07%
-2.97%
0.53%
-4.77%
-21.14%
-32.05%
27.48%
10.93%
9.15%
21.86%
30.34%
40.96%
16.42%
16.88%
21.64%
24.82%
22.55%
9.24%
12.56%
2.53%
-4.16%
To compare portfolios from 1985-2011, Enter fund allocations here
Compare 5 portfolios
P1
Mid-Cap Blend - MCB
Micro Cap
REIT
Emerging Mkt - EM
Intl Pacific
Intl Europe
Intl.Value
Commodities
5 Yr T-Bills
Total Bond
Synthetic TIPS
Energy Fund
Health Care Fund
Windsor
Windsor II
High Yield Corp
2 Year ST Treasury
Mid-Cap Value Index
VG Extended Market
Global Bond Fund
VTSMX
VIVAX
VFINX
VIGRX
VIMSX
VISVX
NAESX
VISGX
BRSIX
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
PCRIX
VUSTX
VFITX
VBMFX
VMPXX
VIPSX
VWELX
VWINX
VGENX
VGHCX
VGPMX
VWNDX
VWNFX
VWSTX
VWITX
VWLTX
VWEHX
VFISX
VMGIX
VMVIX
VEXMX
PIGLX
ST Investment Grade
VFSTX
GOLD
GLD
VG Intl Small
VFSVX
P2
25.00%
66.00%
25.00%
P3
15.00%
15.00%
P4
7.50%
7.50%
5.00%
5.00%
5.00%
5.00%
5.00%
10.00%
5.00%
5.00%
7.50%
7.50%
7.50%
7.50%
7.50%
7.50%
7.50%
7.50%
20.00%
15.00%
25.00%
66.00%
25.00%
66.00%
15.00%
198%
ERROR
Initial Investment for comparing portfolios
# of Years backtesting
Offset
MAR Nominal
MAR Real
10000
1985
2011
27
0
5%
2%
Average
Std. Dev.
Down SD
Up SD
CAGR
Sharpe
Sortino
US Mkt. Corr.
Intl. Corr.
Total - Rebalanced
Total - Unbalanced
100%
100%
100%
10000
10000
10000
1985
1985
1985
2011
2011
2011
27
27
27
0
0
0
P1
P2
P3
P4
19.51%
11.28%
11.89%
11.70%
15.22%
13.62%
14.89%
13.87%
4.63%
7.74%
8.24%
7.41%
10.61%
7.78%
8.64%
8.47%
18.54%
10.39%
10.84%
10.80%
1.01
0.52
0.52
0.54
3.14
0.81
0.84
0.90
0.48
0.85
0.89
0.86
0.53
0.89
0.90
0.91
986906
144255
160910
159378
217166
124637
160529
158913
460494
67310
75081
74366

20.00%
18.00%
16.00%
P2
P3
P4
P5
14.00%
Annualized return
P1
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
25.00%
0.00%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
43.97%
29.09%
35.46%
33.02%
34.42%
31.28%
30.25%
30.16%
7.41%
8.08%
7.87%
8.33%
15.02%
19.92%
21.25%
21.94%
17.72%
15.42%
21.51%
18.80%
-11.92%
-9.33%
-9.41%
-9.26%
31.93%
26.20%
26.66%
26.50%
19.85%
5.66%
7.07%
7.80%
37.96%
21.03%
23.70%
24.35%
-7.47%
2.82%
0.92%
1.12%
37.09%
15.27%
21.53%
17.67%
9.84%
16.84%
15.49%
12.67%
15.63%
14.06%
13.95%
11.63%
3.37%
6.28%
7.75%
6.05%
-3.36%
14.34%
17.99%
18.94%
23.61%
1.19%
0.03%
0.10%
12.17%
-2.84%
-4.43%
-1.47%
18.10%
-3.92%
-9.57%
-5.02%
38.94%
28.84%
31.29%
31.42%
23.20%
18.10%
16.69%
16.11%
20.09%
9.01%
10.44%
10.03%
28.33%
19.41%
19.42%
15.94%
21.60%
4.04%
5.54%
7.37%
-3.02%
-30.26%
-30.08%
-27.49%
27.90%
26.45%
26.92%
26.45%
41.59%
15.67%
14.96%
14.31%
22.90%
2.03%
-2.15%
-1.61%
P5
20.00%
5.00%
25.00%
12.50%
12.50%
25.00%
100%
10000
1985
2011
27
0
4.16%
1.25%
P5
8.55%
6.18%
2.36%
4.64%
8.38%
0.71
1.51
0.63
0.75
87914
86600
41021
P1
P2
P3
P4
P5
14.00%
16.00%
20.75%
20.04%
7.74%
5.04%
12.50%
0.74%
11.62%
3.06%
13.68%
-1.75%
17.51%
4.20%
5.63%
9.93%
5.01%
2.41%
-0.54%
6.65%
14.14%
6.70%
8.63%
11.40%
13.39%
-1.66%
10.81%
13.86%
9.46%
To compare the Lazy Portfolios for different time periods (between 1985-2010),
Initial Investment
Starting Year (>=1985)
Ending Year (<= 2010)
MAR Nominal
Offset
# of Years of Backtesting
10000
1985
2011
5%
0
27
Average
Std. Dev.
Down SD
Up SD
CAGR
11.85%
6.05%
7.27%
10.55%
Wellington
P1
11.47%
Wellesley
P2
10.44%
9.56%
4.06%
6.63%
10.02%
P3
P3
19.09%
15.27%
4.59%
10.45%
18.27%
Taylor Larimore 3 Fund
P4
11.82%
15.66%
9.09%
7.90%
10.13%
Taylor Larimore 4 Fund
P5
11.86%
15.72%
9.18%
7.78%
10.18%
Rick Ferri Core Four
P6
11.72%
14.86%
8.57%
8.04%
10.21%
Bill Berstein No Brainer Cowards
P7
10.72%
11.79%
6.67%
6.19%
9.62%
Bill Berstein No Brainer
P8
11.34%
14.34%
8.05%
8.04%
9.86%
Bill Bernstein Smart Money
P9
10.72%
11.79%
6.67%
6.19%
9.62%
Dilbert's Portfolio
P10
10.77%
13.40%
7.31%
7.36%
9.67%
Ted Aronson Family Taxable
P11
12.26%
14.90%
7.82%
9.02%
10.81%
Bill Schultheis Coffee House

FundAdvice Ultimate Buy & Hold
Portfolio
P12
10.62%
11.06%
5.85%
6.28%
9.74%
P13
12.01%
12.09%
6.02%
7.89%
10.82%
David Swenson Lazy Portfolio
P14
11.29%
12.61%
7.04%
6.88%
10.18%
David Swenson Yale Endowment
P15
11.83%
12.66%
6.58%
7.89%
10.87%
2nd Grader
P16
12.32%
17.29%
10.34%
8.22%
10.32%
Frank Armstrong Ideal Idx
P17
10.99%
13.03%
7.40%
7.82%
9.66%
Scott Burns Couch Portfolio
P18
10.05%
10.06%
5.52%
5.16%
9.48%
Scott Burns Margaritaville
P19
11.41%
14.24%
8.01%
7.67%
10.04%
Scott Burns Four Square
P20
10.30%
11.25%
6.19%
5.82%
9.41%
Scott Burns Five Fold

Scott Burns Six Ways from
Sunday
P21
10.70%
11.50%
6.35%
7.04%
9.82%
P22
11.59%
11.93%
6.83%
6.37%
10.57%
Harry Browne Permanent
P23
8.19%
5.82%
2.30%
4.06%
8.11%
Larry Swedroe Simple Portfolio

Larry Swedroe Minimize FatTails
Portfolio
P24
11.39%
11.94%
6.35%
7.00%
10.37%
P25
10.48%
8.44%
3.66%
6.09%
9.84%
P1
P2
Wellington
VTSMX
VIVAX
VFINX
VIGRX
Mid-Cap Blend - MCB
VIMSX
VISVX
NAESX
VISGX
Micro Cap
BRSIX
REIT
VGSIX
VDMIX
Emerging Mkt - EM
VEIEX
VGTSX
Intl Pacific
VPACX
Intl Europe
VEURX
Intl.Value
VTRIX
Commodities
PCRIX
VUSTX
5 Yr T-Bills
VFITX
Total Bond
VBMFX
VMPXX
Synthetic TIPS
VIPSX
VWELX
VWINX
Energy Fund
VGENX
Health Care Fund
VGHCX
VGPMX
Windsor
VWNDX
Windsor II
VWNFX
VWSTX
VWITX
VWLTX
High Yield Corp
VWEHX
2 Year ST Treasury
VFISX
VMGIX
Mid-Cap Value Index
VMVIX
VG Extended Market
VEXMX
Global Bond Fund
PIGLX
ST Investment Grade
VFSTX
GOLD
VG Intl Small
GOLD
VFSVX
Wellesley
P3
P4
P5
P3
Taylor
Larimore
3 Fund
Taylor
Larimore
4 Fund
50.0%
50.0%
30.0%
30.0%
20.0%
10.0%
65.0%
65.0%
10.0%
100.0%
100.0%
65.0%
0
100.0%
P1
P2
Wellington
Average
Std. Dev.
Down SD
Up SD
CAGR
Sharpe
Sortino
US Mkt. Corr.
Intl. Corr.
Total - Rebalanced (N)
Total - Unbalanced (N)
$1 Portfolio =
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
100.0%
Wellesley
195.0%
100.0%
100.0%
P3
P4
P5
P3
Taylor
Larimore
3 Fund
Taylor
Larimore
4 Fund
11.47%
10.44%
19.09%
11.82%
11.86%
11.85%
9.56%
15.27%
15.66%
15.72%
6.05%
4.06%
4.59%
9.09%
9.18%
7.27%
6.63%
10.45%
7.90%
7.78%
10.55%
10.02%
18.27%
10.13%
10.18%
0.62
0.66
0.98
0.49
0.49
1.07
1.34
3.07
0.75
0.75
0.91
0.68
0.48
0.94
0.93
0.65
0.42
0.53
0.90
0.91
150020
131786
928407
135453
136998
150020
131786
213875
121942
122961
70000
61492
433198
63203
63924
15.00
13.18
92.84
13.55
13.70
28.53%
27.41%
43.30%
36.59%
35.68%
18.40%
18.34%
33.90%
31.01%
31.92%
2.28%
-1.92%
7.30%
8.88%
9.60%
16.11%
13.61%
14.79%
19.36%
20.49%
21.60%
20.93%
17.45%
22.63%
21.86%
-2.81%
3.76%
-11.74%
-7.82%
-8.09%
23.65%
21.57%
31.44%
26.05%
26.09%
7.93%
8.67%
19.55%
3.65%
3.66%
13.52%
14.65%
37.38%
18.77%
19.35%
-0.49%
-4.44%
-7.36%
1.03%
1.59%
32.92%
28.91%
36.53%
24.42%
22.66%
16.19%
9.42%
9.69%
13.45%
13.48%
23.23%
20.19%
15.39%
17.07%
16.90%
12.06%
11.84%
3.32%
18.03%
17.43%
4.41%
-4.14%
-3.31%
20.73%
21.57%
10.40%
16.17%
23.26%
-7.69%
-8.37%
4.19%
7.39%
11.99%
-9.84%
-9.95%
-6.90%
4.64%
17.83%
-13.35%
-12.52%
20.75%
9.66%
38.35%
28.57%
28.97%
11.17%
7.57%
22.85%
13.36%
13.76%
6.82%
3.48%
19.79%
8.14%
8.16%
14.97%
11.28%
27.90%
16.60%
16.22%
8.34%
5.61%
21.27%
8.79%
9.25%
-22.30%
-9.84%
-2.97%
-30.74%
-31.53%
22.20%
16.02%
27.48%
26.56%
27.04%
10.94%
10.65%
40.96%
13.17%
13.14%
3.85%
9.63%
22.55%
-2.38%
-1.81%
2013
2014
2015
iods (between 1985-2010), Change the starting and ending year in cells E4 and E5
Sharpe
Ratio
Sortino
Mkt. Corr.
Ratio
Intl. Corr.
Total Rebalanced
(Nominal)
Total Unbalanced
(Nominal)
0.62
1.07
0.91
0.65
150019.50
150019.50
0.66
1.34
0.68
0.42
131786.15
0.98
3.07
0.48
0.53
928406.88
0.49
0.75
0.94
0.90
0.49
0.75
0.93
0.51
0.78
0.56
0.50
Total Rebalanced 1$ Portfolio

(Real)
69999.66
15.00
131786.15
61491.91
13.18
213875.16
433198.13
92.84
135453.44
121941.94
63203.08
13.55
0.91
136997.89
122960.95
63923.73
13.70
0.95
0.87
137936.24
123083.18
64361.57
13.79
0.86
0.92
0.82
119290.44
128354.69
55661.37
11.93
0.79
0.96
0.80
126762.92
121323.07
59148.05
12.68
0.56
0.86
0.92
0.82
119290.44
128354.69
55661.37
11.93
0.49
0.79
0.99
0.67
120810.57
115678.82
56370.66
12.08
0.54
0.93
0.86
0.93
159852.43
163400.40
74587.74
15.99
0.58
0.96
0.90
0.74
123117.57
111821.44
57447.12
12.31
0.65
1.16
0.82
0.93
160132.80
153371.35
74718.57
16.01
0.57
0.89
0.89
0.87
137129.77
136505.55
63985.26
13.71
0.61
1.04
0.89
0.86
162313.33
148495.67
75736.01
16.23
0.47
0.71
0.94
0.89
141922.05
129523.57
66221.36
14.19
0.52
0.81
0.86
0.92
120498.30
109841.72
56224.96
12.05
0.59
0.92
0.96
0.76
115421.18
107648.64
53855.96
11.54
0.51
0.80
0.86
0.95
132520.83
116743.32
61834.72
13.25
0.55
0.86
0.86
0.92
113511.27
102183.27
52964.78
11.35
0.57
0.90
0.86
0.87
125505.84
111523.30
58561.50
12.55
0.62
0.96
0.83
0.83
150769.93
141314.42
70349.81
15.08
0.69
1.39
0.69
0.70
82105.54
84427.64
38310.75
8.21
0.61
1.01
0.84
0.85
143644.85
138763.30
67025.23
14.36
0.75
1.50
0.67
0.81
126092.32
165106.74
58835.15
12.61
P6
P7
P8
P9
Rick Ferri
Core Four
Bill
Berstein
No Brainer
Cowards
Bill
Berstein
No Brainer
Bill
Bernstein
Smart
Money
48.00%
15.00%
15.00%
10.00%
10.00%
P10
P11
P12
P13
Dilbert's
Portfolio
Ted
Aronson
Family
Taxable
Bill
Schultheis
Coffee House
FundAdvice
Ultimate
Buy & Hold
70.00%
25.00%
10.00%
5.00%
10.00%
25.00%
5.00%
10.00%
6.00%
15.00%
10.00%
6.00%
5.00%
10.00%
6.00%
5.00%
10.00%
5.00%
6.00%
8.00%
5.00%
5.00%
5.00%
5.00%
10.00%
6.00%
6.00%
10.00%
24.00%
6.00%
10.00%
5.00%
5.00%
25.00%
5.00%
15.00%
5.00%
5.00%
6.00%
10.00%
20.00%
20.00%
30.00%
40.00%
15.00%
8.00%
5.00%
25.00%
12.00%
10.00%
40.00%
40.00%
12.00%
100.0%
P6
100.0%
P7
100.0%
P8
100.0%
P9
Bill
Rick Ferri Berstein
Bill
Core
No Brainer Berstein
Four
Cowards No Brainer
Bill
Bernstein
Smart
Money
100.0%
100.0%
100.0%
100.0%
P10
P11
P12
P13
Dilbert's
Portfolio
Ted
Aronson
Family
Taxable
Bill
FundAdvice
Schultheis
Ultimate
Coffee House Buy & Hold
11.72%
10.72%
11.34%
10.72%
10.77%
12.26%
10.62%
12.01%
14.86%
11.79%
14.34%
11.79%
13.40%
14.90%
11.06%
12.09%
8.57%
6.67%
8.05%
6.67%
7.31%
7.82%
5.85%
6.02%
8.04%
6.19%
8.04%
6.19%
7.36%
9.02%
6.28%
7.89%
10.21%
9.62%
9.86%
9.62%
9.67%
10.81%
9.74%
10.82%
0.51
0.56
0.50
0.56
0.49
0.54
0.58
0.65
0.78
0.86
0.79
0.86
0.79
0.93
0.96
1.16
0.95
0.92
0.96
0.92
0.99
0.86
0.90
0.82
0.87
0.82
0.80
0.82
0.67
0.93
0.74
0.93
137936
119290
126763
119290
120811
159852
123118
160133
123083
128355
121323
128355
115679
163400
111821
153371
64362
55661
59148
55661
56371
74588
57447
74719
13.79
11.93
12.68
11.93
12.08
15.99
12.31
16.01
34.05%
28.36%
38.56%
28.36%
27.69%
33.78%
27.07%
32.71%
28.11%
20.82%
19.81%
20.82%
14.98%
34.22%
18.92%
28.74%
6.95%
4.69%
1.31%
4.69%
1.34%
10.34%
1.51%
11.14%
18.26%
17.09%
15.64%
17.09%
14.65%
22.13%
16.56%
18.83%
21.63%
18.58%
21.12%
18.58%
24.15%
21.15%
16.61%
18.15%
-7.65%
-4.48%
-4.51%
-4.48%
-1.73%
-9.46%
-5.58%
-7.04%
27.04%
25.11%
24.62%
25.11%
28.69%
28.68%
25.74%
21.76%
5.12%
9.64%
7.13%
9.64%
8.86%
5.40%
10.20%
5.44%
17.80%
17.39%
16.03%
17.39%
10.19%
24.38%
16.72%
22.89%
0.94%
0.18%
0.49%
0.18%
-0.92%
0.72%
-0.40%
1.72%
24.33%
20.16%
25.15%
20.16%
30.51%
19.20%
22.60%
15.89%
15.38%
13.48%
16.66%
13.48%
15.75%
10.26%
14.08%
10.57%
17.99%
14.80%
22.10%
14.80%
24.53%
10.24%
17.43%
8.28%
15.32%
6.62%
15.56%
6.62%
18.86%
7.97%
6.75%
8.68%
18.13%
14.18%
15.67%
14.18%
16.44%
25.06%
8.27%
21.39%
-4.43%
2.59%
-2.77%
2.59%
-3.98%
-6.68%
7.25%
3.71%
-0.45%
-7.43%
0.09%
-5.36%
0.09%
-5.15%
-6.19%
1.88%
-11.73%
-7.12%
-13.03%
-7.12%
-12.19%
-6.45%
-5.56%
-1.65%
28.38%
24.13%
28.80%
24.13%
23.14%
29.98%
23.54%
29.35%
14.32%
12.43%
13.13%
12.43%
10.04%
14.95%
13.80%
15.27%
8.04%
7.25%
5.79%
7.25%
4.91%
11.02%
6.24%
9.18%
17.50%
14.74%
17.12%
14.74%
12.14%
13.17%
15.15%
15.95%
6.43%
4.58%
7.07%
4.58%
5.92%
9.71%
2.63%
6.83%
-30.32%
-24.51%
-27.79%
-24.51%
-24.41%
-26.79%
-20.21%
-21.42%
26.14%
24.65%
23.99%
24.65%
21.87%
26.55%
20.26%
22.54%
14.42%
13.34%
12.55%
13.34%
13.89%
15.54%
14.68%
13.79%
-0.84%
-1.36%
-2.54%
-1.36%
2.94%
0.36%
2.02%
-1.96%
20.00%
18.00%
16.00%
Annualized Return
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
P14
P15
P16
David
David
Swenson
Swenson
Yale
Lazy Portfolio Endowment
30.00%
30.00%
P17
P18
Frank
Armstrong
2nd Grader Ideal Idx
60.00%
P19
P20
Scott Burns
Couch
Scott Burns
Portfolio
Margaritaville
50.00%
34.00%
P21
Scott Burns Scott Burns

Four Square Five Fold
25.00%
20.00%
9.25%
6.25%
9.25%
6.25%
20.00%
20.00%
15.00%
15.00%
5.00%
5.00%
8.00%
30.00%
20.00%
31.00%
33.00%
25.00%
20.00%
33.00%
25.00%
20.00%
25.00%
20.00%
15.00%
15.00%
15.00%
15.00%
10.00%
50.00%
30.00%
100.0%
100.0%
P14
P15
David
Swenson
Lazy
Portfolio
David
Swenson
Yale
Endowment
100.0%
P16
2nd
Grader
100.0%
100.0%
P17
P18
Frank
Armstrong
Ideal Idx
Scott
Burns
Couch
Portfolio
100.0%
100.0%
100.0%
P19
P20
P21
Scott Burns
Margaritaville
Scott
Burns
Four
Square
Scott
Burns
Five Fold
11.29%
11.83%
12.32%
10.99%
10.05%
11.41%
10.30%
10.70%
12.61%
12.66%
17.29%
13.03%
10.06%
14.24%
11.25%
11.50%
7.04%
6.58%
10.34%
7.40%
5.52%
8.01%
6.19%
6.35%
6.88%
7.89%
8.22%
7.82%
5.16%
7.67%
5.82%
7.04%
10.18%
10.87%
10.32%
9.66%
9.48%
10.04%
9.41%
9.82%
0.57
0.61
0.47
0.52
0.59
0.51
0.55
0.57
0.89
1.04
0.71
0.81
0.92
0.80
0.86
0.90
0.89
0.89
0.94
0.86
0.96
0.86
0.86
0.86
0.87
0.86
0.89
0.92
0.76
0.95
0.92
0.87
137130
162313
141922
120498
115421
132521
113511
125506
136506
148496
129524
109842
107649
116743
102183
111523
63985
75736
66221
56225
53856
61835
52965
58561
13.71
16.23
14.19
12.05
11.54
13.25
11.35
12.55
28.05%
30.71%
37.10%
32.61%
20.32%
32.50%
24.79%
23.60%
27.11%
28.99%
32.22%
30.01%
18.92%
35.19%
26.95%
25.35%
7.32%
5.98%
9.66%
8.59%
4.85%
11.94%
9.45%
6.80%
17.86%
18.39%
21.53%
19.14%
18.22%
22.10%
18.17%
17.19%
17.25%
18.67%
23.36%
15.61%
17.27%
17.82%
16.64%
15.03%
-6.84%
-7.26%
-9.57%
-9.45%
-0.10%
-7.23%
-3.42%
-5.85%
26.12%
27.17%
28.01%
23.07%
25.06%
23.24%
21.08%
23.95%
6.55%
6.69%
3.91%
5.28%
8.44%
2.83%
3.08%
5.34%
18.88%
20.44%
19.43%
20.79%
12.94%
21.44%
19.10%
19.17%
1.69%
0.73%
1.84%
1.45%
1.41%
2.74%
2.26%
2.41%
17.36%
20.06%
24.42%
17.86%
18.19%
15.54%
16.19%
15.96%
16.24%
15.40%
15.22%
12.54%
12.43%
10.89%
9.05%
14.24%
14.56%
15.69%
19.05%
11.60%
19.39%
12.76%
9.20%
11.07%
7.30%
8.15%
18.90%
8.32%
12.93%
13.91%
13.49%
7.53%
14.89%
13.31%
24.03%
13.49%
15.75%
20.50%
14.28%
10.62%
0.60%
2.23%
-10.57%
2.04%
-2.99%
-7.23%
-5.29%
1.04%
-2.02%
-2.55%
-11.89%
-3.55%
-1.79%
-7.94%
-5.31%
-1.78%
-4.57%
-3.27%
-15.44%
-7.56%
-2.18%
-6.62%
0.48%
1.13%
26.77%
26.81%
31.71%
26.96%
19.68%
26.61%
24.07%
26.39%
15.65%
16.56%
14.59%
14.50%
10.40%
13.86%
13.30%
16.79%
8.43%
9.16%
8.52%
8.36%
4.29%
8.03%
4.45%
5.93%
17.69%
17.39%
17.34%
17.75%
7.97%
14.21%
12.11%
16.70%
4.87%
5.07%
9.11%
6.15%
8.54%
10.81%
10.47%
5.08%
-26.83%
-24.46%
-35.74%
-25.74%
-19.95%
-28.09%
-21.67%
-24.74%
24.39%
22.36%
29.32%
23.07%
19.75%
25.44%
23.35%
24.60%
14.33%
15.28%
14.21%
12.97%
11.63%
11.52%
11.41%
14.78%
1.47%
5.52%
-2.47%
-3.43%
7.10%
-0.11%
2.21%
3.46%
P1
P2
P3
P4
P5
P6
P7
P8
P9
P10
P11
P12
P13
P14
P15
P16
P17
P18
P19
P20
P21
P22
16.00%
18.00%
20.00%
P23
P24
P25
P22
P23
P24
Scott Burns
Six Ways
from
Harry Browne
Sunday
Permanent
16.67%
P25
Larry
Swedroe
Minimize
FatTails
Portfolio
Larry
Swedroe
Simple
Portfolio
25.00%
15.00%
15.00%
15.00%
13.00%
16.66%
4.00%
15.00%
16.66%
13.00%
25.00%
25.00%
16.66%
40.00%
35.00%
16.66%
35.00%
16.66%
25.00%
100.0%
P22
100.0%
P23
Scott
Burns Six
Ways
Harry
from
Browne
Sunday Permanent
100.0%
100.0%
P24
P25
Larry
Swedroe
Simple
Portfolio
Larry
Swedroe
Minimize
FatTails
Portfolio
11.59%
8.19%
11.39%
10.48%
11.93%
5.82%
11.94%
8.44%
6.83%
2.30%
6.35%
3.66%
6.37%
4.06%
7.00%
6.09%
10.57%
8.11%
10.37%
9.84%
0.62
0.69
0.61
0.75
0.96
1.39
1.01
1.50
0.83
0.69
0.84
0.67
0.83
0.70
0.85
0.81
150770
82106
143645
126092
141314
84428
138763
165107
70350
38311
67025
58835
15.08
8.21
14.36
12.61
22.02%
18.81%
26.25%
21.20%
23.24%
16.72%
24.41%
22.12%
6.68%
6.54%
7.01%
9.34%
17.88%
4.63%
25.01%
18.85%
19.76%
13.06%
14.85%
16.48%
-5.10%
1.42%
-8.00%
0.17%
20.00%
11.79%
25.78%
24.22%
5.47%
3.60%
10.63%
10.78%
20.39%
11.82%
23.08%
22.30%
1.73%
-1.49%
1.94%
-0.57%
17.52%
17.99%
14.87%
8.30%
17.53%
4.96%
12.19%
8.44%
11.70%
7.07%
14.23%
7.16%
2.85%
10.02%
3.69%
-0.24%
12.34%
5.04%
13.73%
13.04%
6.93%
2.28%
3.61%
3.85%
-1.91%
-0.56%
1.70%
6.94%
0.84%
5.54%
-3.26%
5.38%
27.61%
13.49%
27.30%
17.86%
20.09%
6.28%
15.34%
10.71%
12.37%
8.28%
7.58%
7.24%
17.19%
10.94%
13.15%
8.76%
10.40%
12.49%
6.94%
11.59%
-27.76%
-1.90%
-23.57%
-11.39%
26.88%
10.29%
23.93%
20.23%
14.55%
13.83%
13.64%
9.64%
2.59%
9.96%
1.80%
1.92%
Data_Sources
Credit to Trevh/Cb/Alec from Vanguard Diehards / Bogleheads forum for compiling this data from various sources.
A special thanks to Gummy (gummy-stuff.org) for all the Math & Excel help.
http://www.bogleheads.org
For comments/Feedback/updates visit
http://www.bogleheads.org/forum/viewtopic.php?t=2520
Annual Return Data Sources:

http://www.tamasset.com/other/AC2705.xls
http://www.fpanet.org/journal/articles/2006_Issues/jfp0206-art7.cfm
https://flagship.vanguard.com/VGApp/hnw/FundsByType
http://www.mscibarra.com/products/indices/us/annualReturns.jsp
CPI-U data was collected from http://www.bls.gov/cpi and the actual data was obtained from ftp://ftp.bls.gov/pub/special.reque
Credit to Cb/Gnobility/Jeff for calculating the synthetic returns of CCF data

http://gnobility.com/Syn_Comm/CCF_
Credit to Stratton for the Global Bond Funds Data
Credit to CraigR for the Gold returns - http://crawlingroad.com/blog/2008/12/22/permanent-portfolio-historical-returns/#more-29
Folowing is the list of the Abbreviations and a summary of the data sources by year range.
MKT = US Cap Weighted Market:
=============================
CRSP Market Decile 1-10 1972-1992
Vanguards Total Stock Market Index Fund 1993-2011
EAFE
================================
MSCI EAFE Index 1972-2000 (Developed Only)
Vanguard Developed Mkts Idx (VDMIX) 2001-2011
LCB = US Large Blend:

=====================
S&P 500: Standard & Poors 1972-1976
Vanguards 500 Index Fund 1977-2011
EM
================================
IFA website (added back expenses):1972-1987
(http://www.ifa.com/library/support/data/IFAindexdata
Allocated 50% IFA Intl Value Index and 50% IFA Intl
MSCI Emerging Mkts Index 1988-1994
Vanguard Emerging Mkts Idx - 1995-2011
LCV = US Large Value:

=====================
Fama and French 1972-1978
Russell 1000 Value Index 1979-1992
Vanguards Value Index Fund 1993-2011
EAFE/EM
INTLT - Total International:
============================
MSCI EAFE Index 1972-1987 (Developed Only)
85% EAFE Index
Vanguards Total International Index Fund 1997-2011
LCG = US Large Growth:

======================
Fama and French 1972-1978
Russell 1000 Growth Index 1979-1992
Vanguards Growth Index Fund 1993-2011
Pacific
============================
MSCI Data 1972-1990
Vanguard Pacific Stock Index (VPACX) 1991-2011
MCB = US Mid Blend:

===================
CRSP Decile 3-5 1972-1978
Russell Mid Cap Index 1979-1998
Vanguards Mid Cap Index Fund 1999-2011
Europe
============================
MSCI Data 1972-1984
Vanguard Europe Stock Index (VEURX) 1991-2011
MCG = US Mid Growth:

===================
Russell Mid Cap Growth Index 1986-1995
MSCI Mid Cap Growth Index 1996-2011
International Value
Page 51
Data_Sources
MCG = US Mid Value:
===================
Russell Mid Cap Value Index 1986-1995
MSCI Mid Cap Value Index 1996-2011
============================
IFA Intl Value (ifa.com) 1972-1974
MSCI EAFE Value 1975-1996
Vanguard Intl Value (VTRIX) 1997-2011
SCB = US Small Blend:

=====================
Ibbotson 1972-1978
Russell 2000 Index 1979-1991
Vanguards Small Cap Index Fund 1992-2011
Windsor
==================================
Vanguard Windsor (VWNDX) - 1972-2011
SCV = US Small Value:

=====================
Ibbotson 1972-1978
Russell 2000 Value Index 1979-1998
Vanguards Small Cap Value Index Fund 1999-2011
SCG = US Small Growth:
======================
Ibbotson 19721978
Russell 2000 Growth Index 1979-1998
Vanguards Small Cap Growth Index Fund (VISGX) 1999-2011
MICRO = US MicroCap Blend:
==========================
CRSP Decile 10 1972-1997
BRSIX Bridgeway Ultra Small Market 1998-2011
Windsor II
==================================
Vanguard Windsor II (VWNFX) 1985-2011
Energy
============================
Vanguard Energy (VGENX) - 1985-2011
Health Care
============================
Vanguard Health (VGHCX) - 1985-2011
Precious Metals
============================
Vanguard Precious Metals (VGPMX) - 1985-2011
Short Term Treasuries
===============================
ST Treasury (2F) IFA website: 1972-1991
Vanguard Short Term Treasury (VFISX) 1992-2011
Extended market Index

=============================
55% Mid-Cap(VIMSX)+45% Small Cap(NAESX) - 1985-1987
VG Extended Mkt - 1988-2011
REIT = Real Estate:
===================
Nat. Assn. of Real Estate Inv Trusts 1972-1996
Vanguards REIT Index Fund - 1997-2011
5YT - InterTerm Treasury Bonds:

===============================
Tamasset Spreadsheet 1972-1991
Vanguards InterTerm Treasury Fund (VFITX) 1992-2
Tbill - Risk Free Benchmark for Sharpe:

===============================
T-Bills 1972-1983
Vanguard Treasury Money Market Fund (VMPXX) 19
VG Treasury (VMPXX) merged with Admiral Treasur
Page 52
Data_Sources
this data from various sources.
forum/viewtopic.php?t=2520
om ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt
ttp://gnobility.com/Syn_Comm/CCF_1972-2007_san.xls
t-portfolio-historical-returns/#more-299
====================
ex 1972-2000 (Developed Only)
loped Mkts Idx (VDMIX) 2001-2011
====================
ded back expenses):1972-1987
com/library/support/data/IFAindexdata.asp)
FA Intl Value Index and 50% IFA Intl Small
g Mkts Index 1988-1994
ging Mkts Idx - 1995-2011
================
ex 1972-1987 (Developed Only)
al International Index Fund 1997-2011
================
c Stock Index (VPACX) 1991-2011
================
pe Stock Index (VEURX) 1991-2011
ITB = Intermediate Term Bonds:

==============================
Ibbotson 1972
Lehman Brothers 1973-1986
Vanguards Total Bond Index Fund 1987-2011
TIPS
===============================
Synthetic TIPS data provided by Cb (Data from Kothari's paper)
http://www.diehards.org/forum/viewtopic.php?t=281
Vanguard Inflation-Protected Security Fund (VIPSX) 2001-2011
LTGB = Long Term Government Bonds:
==================================
Tamasset Spreadsheet 1972-1986
Vanguards Long Term Treasury(VUSTX) 1987-2011
High Yield Corporate
==================================
Vanguard High Yield Corporate (VWHEX) 1985-2011
CPI-U (Inflation)
==================================
Consumer Price Index - Urban - 1972-2011
Compiled by Bureau of Labor and Statistics
Commodities
============================
COMM - Commodities/Natural Resources
Collaterallized Chase Index 1972-1990
DJ-AIJ plus T-Bills 1991-1996
DJ-AIG plus Yahoo's IPS 'category' returns 1997-2001 (prior to VIPSX)
DJ-AIJ plus VIPSX - 2001-2002
Page 53
================
fa.com) 1972-1974
lue 1975-1996
alue (VTRIX) 1997-2011
======================
sor (VWNDX) - 1972-2011
======================
sor II (VWNFX) 1985-2011
================
gy (VGENX) - 1985-2011
================
h (VGHCX) - 1985-2011
================
ous Metals (VGPMX) - 1985-2011
Data_Sources
Pimco PCRIX 2003-2011
Global Bonds (Unhedged)
============================
JP Morgan Global Gov Bond - 1987-1996
Pimco Global Bond PIGLX Instl - 1997-2011
Short Term Investment Grade
==================================
Vanguard ST Investment Grade (VFSTX) 1985-2011
Gold
==================================
http://www.finfacts.ie/Private/curency/goldmarketprice.htm
http://www.onlygold.com/TutorialPages/prices200yrsfs.htm - 1972-2011
http://www.kitco.com/charts/historicalgold.html
Kitco returns - 1972 - 2004

GLD ETF - 2004 - 2011
International Small
============================
Intl Small IFA website (added back expenses):1972-1974
Intl Small 1975-1996
VG Intl Explorer - 1997 - 2009
FTSE All-World ex-US Small Cap Idx (VFSVX) 2010-2011
===================
F) IFA website: 1972-1991
Term Treasury (VFISX) 1992-2011
m Treasury Bonds:
===================
adsheet 1972-1991
rTerm Treasury Fund (VFITX) 1992-2011
e Benchmark for Sharpe:

===================
sury Money Market Fund (VMPXX) 1984-2011

MPXX) merged with Admiral Treasury (VUSXX) in Aug 2009
Page 54
Data_Sources
m Kothari's paper)
VIPSX) 2001-2011
997-2001 (prior to VIPSX)
Page 55
Data_Sources
s.htm - 1972-2011
X) 2010-2011
Page 56
Year
Allocation
Amount
US Mkt
LCV
LCB-500 Idx
LCG
MCB
SCV
SCB
VTSMX
VIVAX
VFINX
VIGRX
VIMSX
VISVX
NAESX
66%
2640
1972
11.01
1973
-12.05
1974
-18.04
1975
25.37
1976
17.46
1977
-2.89
1978
4.82
1979
15.03
1980
21.42
1981
-2.56
1982
13.58
1983
14.37
1984
2.84
1985
21.09
1986
10.48
1987
0.99
1988
11.73
1989
18.91
1990
-4.08
1991
22.73
1992
6.33
1993
6.87
1994
-0.11
1995
23.62
1996
13.83
1997
20.45
1998
15.35
1999
15.71
2000
-6.98
2001
-7.24
2002
-13.83
2003
20.69
2004
8.26
2005
3.95
2006
10.24
2007
3.62
2008
-24.45
2009
18.94
2010
11.28
2011
0.63
2012
2013
2014
0%
0%
0%
0%
0%
SCG
VISGX
0%
0%
2015
Portfolio
Total
Nominal
ERROR
1028971.45
Real
CAGR
Sharpe
Ratio
Std.Dev
#VALUE!
14.88
Sortino
Ratio
20.58
0.78
18.65
0.82
C-US
3.00
2.45
C-Intl
0.40
0.44
0.32
0.36
Portfolio Nominal (Rebalan
0
39
40
Correlation of your portfolio with different assets
Portfolio
US Mkt
LCV
LCB-500 Idx
LCG
MCB
SCV
SCB
Correlation
VTSMX
VIVAX
VFINX
VIGRX
VIMSX
VISVX
NAESX
0.40
0.34
0.39
0.42
0.35
0.23
SCG
VISGX
0.36
0.42
Returns without Rebalancing
Year
US Mkt
LCV
LCB-500 Idx
LCG
MCB
SCV
SCB
VTSMX
VIVAX
VFINX
VIGRX
VIMSX
VISVX
NAESX
Allocation
66%
Amount
2640
1972
3080.31
1973
2517.99
1974
1829.62
1975
2532.87
1976
3203.06
1977
3062.71
1978
3286.17
1979
4034.32
1980
5343.40
1981
5135.93
1982
6192.44
1983
7540.45
1984
7864.83
1985
10377.59
1986
12025.53
1987
12206.77
1988
14376.67
1989
18496.39
1990
17353.63
1991
23331.01
1992
25568.87
1993
28230.65
1994
28182.66
1995
38269.23
1996
46290.46
1997
60635.87
1998
74739.78
1999
92535.32
0%
0%
0%
0%
0%
SCG
VISGX
0%
0%
2000
82754.34
2001
73676.18
2002
58233.66
2003
76489.91
2004
86066.44
2005
91213.22
2006
105360.39
2007
111144.67
2008
69976.69
2009
90059.99
2010
105451.25
2011
106463.58
2012
2013
2014
2015
%Allocation
45.31%
Portfolio
CAGR
ERROR
ERROR
Nominal
Real
Sharpe
Ratio
Std.Dev
#VALUE!
17.66
0.28
#VALUE!
15.34
0.30
Sortino
Ratio
C-US
0.66
0.43
C-Intl
0.25
0.30
0.18
0.23
Portfolio Nominal (Unbalan
CoffeeHouse Portfolio
Year
LCB
0
LCV
VFINX
Allocation
SCV
VIVAX
10%
SCB
VISVX
10%
10%
EAFE / EM REIT
NAESX
VGTSX
VGSIX
10%
10%
Portfolio
Returns
ITB
Nominal
VBMFX
10%
40%
1972
1.88
1.88
0.68
0.42
3.80
0.78
2.20
1973
-1.49
-0.38
-2.62
-3.11
-1.50
-1.57
1.28
11.62
-9.38
1974
-2.66
-2.33
-1.84
-2.01
-2.37
-2.16
2.71
-10.65
1975
3.70
5.69
5.41
5.24
3.63
1.90
3.23
28.81
1976
2.37
4.37
5.32
5.70
0.29
4.73
4.59
27.38
1977
-0.80
0.12
2.15
2.51
2.26
2.21
1.12
9.58
1978
0.59
0.31
2.15
2.32
3.54
1.01
0.80
10.71
1979
1.80
2.02
3.51
4.28
0.42
3.56
2.55
18.14
1980
3.19
2.41
2.51
3.83
2.29
2.41
2.55
19.20
1981
-0.52
0.11
1.46
0.18
-0.05
0.58
4.23
5.99
1982
2.09
1.97
2.82
2.46
-0.12
2.13
10.06
21.42
1983
2.13
2.80
3.83
2.88
2.54
3.03
3.19
20.41
1984
0.62
0.99
0.21
-0.75
0.79
2.06
5.63
9.55
1985
3.12
3.12
3.07
3.08
5.69
1.89
7.11
27.07
1986
1.81
1.97
0.72
0.55
6.83
1.90
5.15
18.92
1987
0.47
0.03
-0.73
-0.90
2.65
-0.38
0.38
1.51
1988
1.62
2.29
2.92
2.46
3.00
1.33
2.94
16.56
1989
3.14
2.49
1.21
1.59
1.86
0.86
5.46
16.61
1990
-0.33
-0.83
-2.20
-1.97
-2.15
-1.56
3.46
-5.58
1991
3.02
2.43
4.14
4.58
1.93
3.54
6.10
25.74
1992
0.74
1.36
2.88
1.79
-0.86
1.44
2.86
10.20
1993
0.99
1.81
2.35
1.87
3.88
1.94
3.87
16.72
1994
0.12
-0.07
-0.17
-0.05
0.55
0.30
-1.06
-0.40
1995
3.75
3.69
2.55
2.87
0.96
1.51
7.27
22.60
1996
2.29
2.19
2.11
1.81
0.75
3.50
1.43
14.08
1997
3.32
2.98
3.15
2.46
-0.11
1.85
3.78
17.43
1998
2.86
1.46
-0.67
-0.26
1.56
-1.63
3.43
6.75
1999
2.11
1.26
0.31
2.31
2.99
-0.40
-0.30
8.27
2000
-0.91
0.61
2.19
-0.27
-1.56
2.64
4.56
7.25
2001
-1.20
-1.19
1.37
0.31
-2.02
1.24
3.37
1.88
2002
-2.22
-2.09
-1.42
-2.00
-1.51
0.38
3.30
-5.56
2003
2.85
3.23
3.72
4.56
4.03
3.57
1.59
23.54
2004
1.07
1.53
2.36
1.99
2.08
3.08
1.70
13.80
2005
0.48
0.71
0.61
0.74
1.56
1.19
0.96
6.24
2006
1.56
2.22
1.92
1.56
2.66
3.51
1.71
15.15
2007
0.54
0.01
-0.71
0.12
1.55
-1.65
2.77
2.63
2008
-3.70
-3.60
-3.21
-3.61
-4.41
-3.71
2.02
-20.21
2009
2.65
1.96
3.03
3.61
3.67
2.96
2.37
20.26
2010
1.49
1.43
2.48
2.77
1.11
2.83
2.57
14.68
2011
0.20
0.10
-0.42
-0.28
-1.46
0.85
3.02
2.02
2012
2013
2014
2015
Portfolio
Nominal
Real
Total
CAGR
529519.03
38574.7607
Std.Dev
Sharpe
Ratio
10.433
11.27
0.50
5.829
11.32
0.48
Sortino
Ratio
C-US
1.03
0.68
C-Intl
0.91
0.89
0.68
0.67
0
39
40
Portfolio
LCB
Correlation
VFINX
LCV
SCV
VIVAX
0.88
SCB
VISVX
0.88

REIT
NAESX
0.91
0.92
VGSIX
0.81
EAFE/ EM
ITB
VGTSX
VBMFX
0.68
TIPS
VIPSX
0.42
0.27
D10
REIT
EAFE
EM
Total Intl
Pacific
Europe
Int.Val
COMM
BRSIX
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
PCRIX
0%
0%
0%
0%
0%
0%
0%
0%
LTGB
VUSTX
0%
66%
2640
3.58
-0.90
2.73
5.89
10.89
-0.63
-0.96
-0.96
-2.80
1.08
26.42
0.29
10.03
20.24
15.96
-2.10
6.04
11.83
3.81
11.50
4.88
11.08
-4.64
19.87
-0.83
9.17
8.61
-5.72
13.02
2.84
11.00
1.77
4.70
4.36
1.15
6.10
14.86
-7.95
5.89
19.32
Portfolio Nominal (Rebalanced) = ERROR
D10
REIT
EAFE
EM
EAFE85 /
EM15
Pacific
Europe
Int.Val
COMM
LTGB
BRSIX
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
PCRIX
VUSTX
0.25
0.26
0.32
0.23
0.32
0.26
0.38
0.25
0.40
D10
REIT
EAFE
EM
EAFE85 /
EM15
Pacific
Europe
Int.Val
COMM
BRSIX
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
PCRIX
0%
0%
0%
0%
0%
0%
0%
0%
0.20
LTGB
VUSTX
0%
66%
2640
2783.24
2745.49
2858.86
3113.78
3627.46
3592.73
3540.41
3488.85
3340.61
3395.26
4754.58
4775.45
5501.34
7188.06
8925.93
8641.93
9432.67
11123.94
11766.91
13817.88
14840.40
17332.11
16113.66
20965.48
20703.42
23581.19
26658.54
24349.91
29151.71
30408.15
35477.18
36427.97
39021.64
41600.97
42324.83
46235.65
56647.91
49821.84
54270.93
70161.46
23.32%
Portfolio Nominal (Unbalanced) = ERROR
Total
Portfolio
Returns
Total
Nominal
Real
Real
10000
4000
11161.63
7.94
4317.58
10115.00
-16.63
3599.36
9037.53
-20.46
2862.76
11641.48
20.46
3448.39
14828.68
21.47
4188.72
16249.15
2.70
4301.71
17989.88
1.55
4368.59
21253.93
4.28
4555.60
25334.52
5.94
4826.18
26852.87
-2.69
4696.40
32604.54
16.94
5491.99
39259.53
16.01
6371.44
43009.22
5.39
6714.83
54653.21
22.42
8220.48
64993.28
17.63
9669.59
65973.22
-2.80
9398.61
76900.37
11.63
10491.64
89672.61
11.43
11690.86
Portfolio Real (Unbalanced) = ERROR
84669.46
-11.01
10403.33
106461.28
22.00
12691.98
117325.28
7.10
13592.87
136936.92
13.59
15440.62
136394.54
-2.99
14978.80
167225.58
19.57
17910.02
190773.94
10.41
19775.05
224019.97
15.46
22832.54
239149.26
5.06
23987.88
258932.36
5.44
25293.21
277712.73
3.74
26239.06
282939.28
0.33
26324.40
267216.35
-7.75
24284.34
330129.76
21.26
29448.36
375700.88
10.22
32456.77
399125.83
2.73
33341.61
459577.42
12.29
37440.30
471668.90
-1.39
36918.61
376363.49
-20.28
29431.93
452599.67
17.07
34456.45
519054.88
12.99
38931.71
529519.03
-0.92
38574.76
5 Yr T
ITB
TBILL
STIPS
Bal
Bal
Windsor
ST
Treasury
VFITX
VBMFX
VUSXX
VIPSX
VWELX
VWINX
VWNDX
VFISX
0%
0%
0%
0%
0%
0%
0%
0%
GOLD
GLD
VG Intl Small
VFSVX
66%
2640
32.12
47.02
47.53
-18.23
-2.96
14.62
24.07
82.93
9.72
-21.69
9.56
-10.98
-12.88
3.47
13.74
14.34
-10.29
-2.13
-1.23
-6.88
-4.04
11.36
-1.69
0.38
-3.28
-14.34
-0.81
0.30
-3.84
0.29
16.47
12.62
2.96
11.72
14.49
20.18
3.27
15.83
19.32
6.32
0%
0%
Rebalanced) = 1028971.45
5 Yr T
ITB
TBILL
TIPS
Bal
Bal
Windsor
ST
Treasury
VFITX
VBMFX
VMPXX
VIPSX
VWELX
VWINX
VWNDX
VFISX
0.18
0.25
0.01
-0.07
0.35
0.26
0.21
0.11
5 Yr T
ITB
TBILL
STIPS
Bal
Bal
Windsor
ST
Treasury
VFITX
VBMFX
VUSXX
VIPSX
VWELX
VWINX
VWNDX
VFISX
0%
0%
0%
0%
0%
0%
0%
GOLD
PIGLX
0%
VG Intl Small
VFSVX
0.73
GOLD
GLD
0
0
0.20
VG Intl Small
VFSVX
66%
2640
3924.60
6720.41
11560.38
8367.27
7992.26
9762.61
13322.58
30061.87
34488.98
23153.45
26507.34
22096.79
17784.27
18719.47
22617.67
27530.33
23237.60
22487.76
22069.45
19767.98
18557.59
21751.19
21194.47
21316.58
20257.85
15857.57
15663.77
15734.18
0%
0%
Unbalanced) = ERROR
14818.40
14883.05
18597.32
22153.72
23146.81
27257.68
33240.74
43402.44
45555.20
56483.89
73016.73
80004.43
31.37%
Portfolio
Returns
0%
0%
0%
0%
0%
0%
0%
0%
Total
ERROR
4000
46.70
5868.15
34.07
7867.63
32.21
10402.16
13.02
11756.89
25.39
14742.37
11.10
16378.13
27.92
20951.15
96.99
41271.96
28.33
52964.79
-23.18
40690.09
49.56
60856.46
3.68
63093.07
-0.01
63087.16
44.79
91345.78
40.18
128050.02
13.23
144991.40
7.48
155836.90
28.62
200432.38
-1.49
197444.77
27.35
251454.85
7.17
269492.76
29.31
348481.57
-6.44
326034.90
43.87
469080.34
9.73
514724.58
15.29
593432.62
23.16
730859.72
10.30
806106.57
2.20
823821.57
-4.11
789981.90
13.64
897733.85
35.08
1212668.64
15.92
1405737.64
20.03
1687320.95
25.87
2123864.63
29.90
2758857.68
-6.31
2584784.79
26.82
3278086.11
36.49
4474305.62
26.27
5649911.53
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Portfolio
Returns
0%
0%
0%
0%
0%
0%
0%
Total
ERROR
7920
0%
23.59
9788.15
22.43
11983.89
35.59
16248.85
-13.75
14013.92
5.77
14822.78
10.76
16418.05
22.73
20149.16
86.53
37585.05
14.87
43172.99
-26.61
31684.64
18.21
37454.36
-8.12
34412.68
-9.48
31150.43
16.48
36285.11
20.07
43569.13
11.04
48379.03
-2.75
47046.94
10.76
52108.09
-1.76
51189.99
11.19
56916.87
3.60
58966.87
14.16
67313.95
-2.71
65490.79
23.00
80551.30
8.32
87251.73
14.70
100074.63
16.97
117062.08
13.29
132619.40
-4.45
126724.44
-6.12
118967.38
-5.60
112308.16
20.27
135071.60
9.75
148234.90
7.99
160071.87
13.03
180925.96
10.98
200782.76
-14.25
172179.80
14.05
196365.73
18.52
232738.90
10.26
256629.46
Portfolio
Returns
Real
Total in
1972 dollars Growth of 4000
Previous
Max Growth
0.4
1.0%
4000 Avg. Drawdown Rebalanced = 1.0%
41.87
5674.85
23.34
6999.12
17.69
8237.55
5.69
8706.45
19.58
10410.85
4.12
10839.63
17.34
12719.24
73.88
22115.74
14.06
25224.25
-29.47
17791.09
44.04
25627.05
-0.11
25598.47
-3.81
24623.76
39.49
34348.69
38.66
47627.66
8.42
51639.05
2.93
53152.67
22.90
65327.29
-7.16
60650.07
23.57
74944.12
4.15
78056.04
25.85
98234.52
-8.88
89512.59
40.31
125597.41
6.20
133387.01
13.36
151209.43
21.20
183272.33
7.41
196856.68
-1.15
194592.34
-5.57
183747.91
11.00
203962.75
32.59
270432.34
12.27
303603.87
16.07
352382.58
22.75
432561.13
24.80
539855.31
-6.40
505330.66
23.46
623902.33
34.47
838988.21
22.64 1028971.45
0.40
0.54
0.71
0.80
1.00
1.12
1.43
2.81
3.61
2.77
4.15
4.30
4.30
6.23
8.73
9.88
10.62
13.66
13.46
17.14
18.37
23.75
22.22
31.97
35.09
40.45
49.82
54.95
56.16
53.85
61.19
82.66
95.82
115.02
144.77
188.06
176.19
223.45
304.99
385.12
0.40
0.54
0.71
0.80
1.00
1.12
1.43
2.81
3.61
3.61
4.15
4.30
4.30
6.23
8.73
9.88
10.62
13.66
13.66
17.14
18.37
23.75
23.75
31.97
35.09
40.45
49.82
54.95
56.16
56.16
61.19
82.66
95.82
115.02
144.77
188.06
188.06
223.45
304.99
385.12
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
23.2%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
1.5%
0.0%
0.0%
0.0%
6.4%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
4.1%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
6.3%
0.0%
0.0%
0.0%
TBill72
TBILL
Inflation Real
VMPXX
CPI-U
0.24
1984
5.41%
4.39%
0.97%
3.55
3.41
0.14
6.64
8.71
-1.90
7.74
12.34
-4.09
5.55
6.94
-1.30
4.85
4.86
-0.02
4.85
6.70
-1.74
6.94
9.02
-1.90
10.14
13.29
-2.79
11.03
12.52
-1.32
14.43
8.92
5.05
10.24
3.83
6.17
8.54
3.79
4.58
9.54
3.95
5.38
7.37
3.80
3.44
6
1.10
4.85
6.12
4.43
1.61
7.18
4.42
2.64
8.87
4.65
4.04
7.94
6.11
1.73
5.73
3.06
2.59
3.53
2.90
0.61
2.86
2.75
0.11
3.81
2.67
1.11
5.49
2.54
2.88
5.09
3.32
1.71
5.12
1.70
3.36
5
1.61
3.33
4.55
2.68
1.82
5.8
3.39
2.33
3.99
1.55
2.40
1.51
2.38
-0.85
0.82
1.88
-1.04
1
3.26
-2.18
2.77
3.42
-0.62
4.55
2.54
1.96
4.65
4.08
0.55
1.97
0.09
1.88
0.53
2.72
-2.13
0.01
1.50
-1.47
0.02
2.96
-2.86
Portfolio
Returns
Real
Total in
1972 dollars Growth of 4000
10000
19.52
4780.67
12.63
5384.34
20.70
6498.78
-19.35
5241.35
0.86
5286.68
3.81
5487.90
12.57
6177.96
64.65
10171.77
2.09
10384.32
-32.62
6996.77
13.85
7965.80
-11.48
7051.57
-12.92
6140.62
12.22
6891.04
18.77
8184.52
6.32
8702.18
-6.87
8104.40
5.84
8577.62
-7.42
7941.55
7.88
8567.49
0.68
8625.86
11.10
9583.50
-5.24
9081.03
19.95
10892.83
4.84
11419.51
12.78
12878.53
15.12
14825.66
10.33
16356.85
Previous
Max Growth
0.4
4.6%
0.40
0.40
0.0%
0.49
0.49
0.0%
0.66
0.66
0.0%
0.57
0.66
13.8%
0.61
0.66
8.8%
0.67
0.67
0.0%
0.82
0.82
0.0%
1.54
1.54
0.0%
1.76
1.76
0.0%
1.29
1.76
26.6%
1.53
1.76
13.2%
1.41
1.76
20.3%
1.27
1.76
27.8%
1.48
1.76
16.0%
1.78
1.78
0.0%
1.98
1.98
0.0%
1.92
1.98
2.8%
2.13
2.13
0.0%
2.09
2.13
1.8%
2.33
2.33
0.0%
2.41
2.41
0.0%
2.75
2.75
0.0%
2.68
2.75
2.7%
3.29
3.29
0.0%
3.57
3.57
0.0%
4.09
4.09
0.0%
4.78
4.78
0.0%
5.42
5.42
0.0%
-7.58
15117.77
-7.56
13975.52
-7.79
12886.93
18.05
15213.02
6.29
16169.19
4.42
16883.66
10.23
18610.43
6.62
19843.09
-14.32
17000.76
11.03
18875.43
16.77
22041.14
7.09
23604.95
5.18
4.86
4.59
5.52
6.06
6.54
7.39
8.21
7.04
8.02
9.51
10.49
5.42
5.42
5.42
5.52
6.06
6.54
7.39
8.21
8.21
8.21
9.51
10.49
4.4%
10.3%
15.3%
0.0%
0.0%
0.0%
0.0%
0.0%
14.2%
2.2%
0.0%
0.0%
Rolling
Returns
1 year
46.70%
34.07%
32.21%
13.02%
25.39%
11.10%
27.92%
96.99%
28.33%
-23.18%
49.56%
3.68%
-0.01%
44.79%
40.18%
13.23%
7.48%
28.62%
-1.49%
27.35%
7.17%
29.31%
-6.44%
43.87%
9.73%
15.29%
23.16%
10.30%
2.20%
-4.11%
13.64%
35.08%
15.92%
20.03%
25.87%
29.90%
-6.31%
26.82%
36.49%
26.27%
Rolling
Returns
3 years
TRUE
37.52%
26.07%
23.28%
16.34%
21.24%
40.94%
47.88%
24.77%
13.82%
6.01%
15.74%
14.50%
26.61%
31.97%
19.49%
16.11%
10.84%
17.29%
10.37%
20.85%
9.04%
20.29%
13.88%
22.10%
15.93%
16.13%
11.55%
2.63%
3.65%
13.75%
21.18%
23.41%
20.54%
25.20%
15.28%
15.57%
17.49%
29.78%
Rolling
Returns
5 years
FALSE
29.81%
22.79%
21.64%
31.74%
35.13%
22.51%
30.02%
24.67%
8.86%
11.52%
25.77%
18.96%
19.82%
26.01%
16.67%
14.45%
13.20%
17.46%
10.22%
18.89%
15.40%
17.10%
15.97%
19.85%
11.92%
8.95%
8.63%
10.66%
11.76%
15.42%
21.87%
25.17%
16.34%
18.45%
21.54%
21.61%
Rolling
Returns
10 years
FALSE
26.11%
26.35%
23.14%
19.75%
22.76%
24.13%
24.37%
22.22%
17.12%
14.06%
19.98%
16.04%
18.64%
17.85%
17.78%
14.93%
15.13%
16.71%
14.93%
15.36%
12.13%
12.79%
13.28%
15.73%
13.66%
15.23%
16.61%
13.46%
15.06%
18.44%
21.74%
Rolling
Returns
15 years
FALSE
26.00%
23.84%
22.03%
21.80%
20.69%
20.82%
20.53%
20.61%
14.77%
15.65%
18.43%
16.40%
17.74%
18.51%
15.79%
12.90%
12.92%
14.66%
13.87%
15.38%
15.29%
16.77%
14.29%
16.63%
16.22%
17.32%
Rolling
Returns
1 year
23.59%
22.43%
35.59%
-13.75%
5.77%
10.76%
22.73%
86.53%
14.87%
-26.61%
18.21%
-8.12%
-9.48%
16.48%
20.07%
11.04%
-2.75%
10.76%
-1.76%
11.19%
3.60%
14.16%
-2.71%
23.00%
8.32%
14.70%
16.97%
13.29%
Rolling
Returns
3 years
27.07%
12.71%
7.34%
0.35%
12.87%
36.36%
38.03%
16.29%
-0.12%
-7.28%
-0.57%
-1.05%
8.18%
15.81%
9.04%
6.15%
1.90%
6.55%
4.21%
9.56%
4.79%
10.96%
9.03%
15.18%
13.27%
14.98%
8.19%
0.54%
Rolling
Returns
5 years
13.36%
10.90%
10.95%
18.26%
25.24%
16.41%
17.93%
11.30%
-3.69%
-3.42%
6.58%
5.25%
6.45%
10.84%
7.13%
5.49%
4.04%
7.43%
4.68%
9.49%
8.92%
11.16%
11.70%
15.16%
9.49%
6.40%
2.33%
2.90%
Rolling
Returns
10 years
14.87%
14.36%
11.13%
6.72%
9.98%
11.38%
11.41%
8.85%
3.32%
1.72%
6.03%
4.64%
6.94%
7.71%
8.30%
7.19%
7.54%
9.54%
9.79%
9.49%
7.65%
6.65%
7.21%
8.51%
7.11%
7.57%
7.21%
3.93%
Rolling
Returns
15 years
12.04%
11.24%
9.55%
8.08%
9.02%
9.38%
8.90%
8.37%
3.77%
4.25%
6.99%
6.77%
8.50%
10.14%
8.69%
6.93%
5.78%
7.28%
7.22%
7.90%
8.01%
8.51%
6.46%
7.60%
7.33%
7.46%
-4.45%
-6.12%
-5.60%
20.27%
9.75%
7.99%
13.03%
10.98%
-14.25%
14.05%
18.52%
10.26%
-5.39%
2.15%
7.61%
12.54%
10.23%
10.64%
2.46%
2.77%
5.05%
14.23%
2.25%
4.78%
8.75%
12.32%
4.97%
5.78%
7.77%
7.24%
4.00%
6.27%
7.99%
Rolling
Returns
(Real)
1 year
41.87%
23.34%
17.69%
5.69%
19.58%
4.12%
17.34%
73.88%
14.06%
-29.47%
44.04%
-0.11%
-3.81%
39.49%
38.66%
8.42%
2.93%
22.90%
-7.16%
23.57%
4.15%
25.85%
-8.88%
40.31%
6.20%
13.36%
21.20%
7.41%
-1.15%
-5.57%
11.00%
32.59%
12.27%
16.07%
22.75%
24.80%
-6.40%
23.46%
34.47%
22.64%
Rolling
Returns
(Real)
3 years
TRUE
27.23%
15.34%
14.15%
9.58%
13.47%
28.55%
32.52%
11.84%
5.03%
0.49%
11.44%
10.26%
22.99%
28.00%
15.67%
11.11%
5.51%
12.13%
6.11%
17.44%
6.10%
17.18%
10.73%
19.10%
13.42%
13.85%
8.77%
0.09%
1.19%
11.59%
18.22%
19.99%
16.95%
21.15%
12.77%
12.99%
15.83%
Rolling
Returns
(Real)
5 years
FALSE
21.08%
13.82%
12.69%
21.84%
23.71%
11.31%
18.78%
15.01%
2.17%
6.37%
21.77%
15.04%
15.73%
21.55%
12.04%
9.49%
8.61%
13.07%
6.50%
15.67%
12.22%
14.14%
13.28%
17.07%
9.15%
6.62%
6.17%
8.09%
9.05%
12.61%
18.68%
21.49%
13.32%
15.49%
18.95%
Rolling
Returns
(Real)
10 years
FALSE
16.10%
16.27%
13.85%
11.57%
14.71%
16.42%
16.90%
15.37%
11.44%
9.17%
15.47%
11.78%
14.39%
13.78%
13.84%
10.85%
11.34%
13.18%
11.66%
12.36%
9.38%
10.08%
10.66%
12.99%
10.87%
12.48%
13.57%
10.67%
12.23%
15.73%
18.80%
Rolling
Returns
(Real)
15 years
FALSE
17.96%
15.86%
14.47%
14.80%
13.81%
14.06%
14.07%
14.60%
9.77%
11.30%
14.37%
12.56%
14.02%
14.86%
12.26%
9.42%
9.59%
11.46%
10.78%
12.45%
12.40%
13.76%
11.54%
13.82%
13.50%
14.59%
Rolling
Returns
(Real)
1 year
-52.19%
12.63%
20.70%
-19.35%
0.86%
3.81%
12.57%
64.65%
2.09%
-32.62%
13.85%
-11.48%
-12.92%
12.22%
18.77%
6.32%
-6.87%
5.84%
-7.42%
7.88%
0.68%
11.10%
-5.24%
19.95%
4.84%
12.78%
15.12%
10.33%
Rolling
Returns
(Real)
3 years
-13.38%
3.11%
-0.61%
-5.48%
5.63%
24.38%
23.69%
4.24%
-7.83%
-12.10%
-4.26%
-4.72%
5.09%
12.32%
5.55%
1.58%
-3.00%
1.87%
0.19%
6.46%
1.96%
8.09%
6.02%
12.35%
10.82%
12.72%
5.49%
-1.95%
Rolling
Returns
(Real)
5 years
-11.97%
2.80%
2.79%
9.37%
14.65%
5.77%
7.74%
2.68%
-9.60%
-7.87%
3.19%
1.78%
2.82%
6.91%
2.88%
0.92%
-0.18%
3.41%
1.15%
6.52%
5.92%
8.35%
9.12%
12.49%
6.77%
4.12%
0.01%
0.52%
Rolling
Returns
(Real)
10 years
-3.51%
5.24%
2.73%
-0.57%
2.77%
4.47%
4.72%
2.75%
-1.69%
-2.65%
2.05%
0.80%
3.12%
3.99%
4.69%
3.39%
4.00%
6.23%
6.67%
6.65%
5.02%
4.10%
4.73%
5.94%
4.48%
5.01%
4.42%
1.38%
Rolling
Returns
(Real)
15 years
-1.33%
4.07%
2.76%
1.87%
2.81%
3.27%
3.06%
2.97%
-0.75%
0.32%
3.32%
3.25%
5.08%
6.75%
5.38%
3.63%
2.65%
4.29%
4.32%
5.16%
5.31%
5.71%
3.90%
5.00%
4.81%
4.96%
-7.58%
-7.56%
-7.79%
18.05%
6.29%
4.42%
10.23%
6.62%
-14.32%
11.03%
16.77%
7.09%
-7.64%
0.21%
4.98%
9.42%
6.95%
7.06%
0.23%
0.47%
3.56%
11.56%
-0.23%
2.23%
5.90%
9.02%
2.25%
3.14%
5.48%
4.87%
1.44%
3.84%
5.38%
Year
MKT-TSM
LCV
500 Idx
LCG
MCB
SCV
SCB
VTSMX
VIVAX
VFINX
VIGRX
VIMSX
VISVX
NAESX
Allocation
50%
Amount
5000
1985
15.97
1986
7.94
1987
0.75
1988
8.89
1989
14.33
1990
-3.09
1991
17.22
1992
4.80
1993
5.21
1994
-0.09
1995
17.90
1996
10.48
1997
15.50
1998
11.63
1999
11.91
2000
-5.29
2001
-5.49
2002
-10.48
2003
15.68
2004
6.26
2005
2.99
2006
7.76
2007
2.75
2008
-18.52
2009
14.35
2010
8.55
2011
0.48
0%
0%
0%
0%
SCG
0%
VISGX
0%
0%
2012
2013
2014
2015
Portfolio
Nominal
Real
Total
CAGR
141055.71
65817.12
Std. Dev
10.30
15.30
7.23
14.88
Sharpe
Ratio
Sortino
Ratio
C-US
C-Intl
0.47
0.73
0.93
0.90
0.47
0.76
0.93
0.89
27
0
Portfolio Nominal (Rebalan
26
Portfolio
US Mkt
LCV
LCB-500 Idx
LCG
MCB
SCV
SCB
Correlation
VTSMX
VIVAX
VFINX
VIGRX
VIMSX
VISVX
NAESX
0.93
0.91
0.92
0.86
0.86
0.67
SCG
0.82
VISGX
0.82
Returns without Rebalancing
MKT-TSM
VTSMX
Year
LCV
VIVAX
Allocation
50%
Amount
5000
1985
6597.46
1986
7645.13
1987
7760.35
1988
9139.85
1989
11758.93
1990
11032.43
1991
14832.50
1992
16255.20
1993
17947.40
1994
17916.89
1995
24329.35
1996
29428.78
1997
38548.76
1998
47515.20
1999
58828.57
2000
52610.39
2001
46839.03
2002
37021.57
2003
48627.83
2004
54716.03
2005
57988.05
2006
66982.00
2007
70659.31
2008
44487.10
2009
57254.90
2010
67039.76
2011
67683.35
500 Idx
VFINX
0%
LCG
VIGRX
0%
MCB
VIMSX
0%
SCV
VISVX
0%
SCB
NAESX
0%
SCG
VISGX
0%
2012
2013
2014
2015
Allocation
Portfolio
Nominal
Real
52.16%
Total
CAGR
123711.93
57724.45
Std. Dev
9.76
17.08
6.71
16.62
Sharpe
Ratio
Sortino
Ratio
C-US
C-Intl
0.41
0.59
0.91
0.92
0.41
0.60
0.91
0.92
0%
Portfolio Nominal (Unbala
CoffeeHouse Portfolio
Year
LCV
LCB
VIVAX
SCV
VFINX
Allocation
SCB
VISVX
REIT
NAESX
VGSIX
Portfolio
Returns
EAFE/ EM
ITB
VGTSX
VBMFX
Nominal
10%
10%
10%
10%
10%
10%
40%
1985
3.12
3.12
3.07
3.08
1.89
5.69
7.11
27.07
1986
1.97
1.81
0.72
0.55
1.90
6.83
5.15
18.92
1987
0.03
0.47
-0.73
-0.90
-0.38
2.65
0.38
1.51
1988
2.29
1.62
2.92
2.46
1.33
3.00
2.94
16.56
16.61
1989
2.49
3.14
1.21
1.59
0.86
1.86
5.46
1990
-0.83
-0.33
-2.20
-1.97
-1.56
-2.15
3.46
-5.58
1991
2.43
3.02
4.14
4.58
3.54
1.93
6.10
25.74
1992
1.36
0.74
2.88
1.79
1.44
-0.86
2.86
10.20
1993
1.81
0.99
2.35
1.87
1.94
3.88
3.87
16.72
1994
-0.07
0.12
-0.17
-0.05
0.30
0.55
-1.06
-0.40
1995
3.69
3.75
2.55
2.87
1.51
0.96
7.27
22.60
1996
2.19
2.29
2.11
1.81
3.50
0.75
1.43
14.08
1997
2.98
3.32
3.15
2.46
1.85
-0.11
3.78
17.43
1998
1.46
2.86
-0.67
-0.26
-1.63
1.56
3.43
6.75
1999
1.26
2.11
0.31
2.31
-0.40
2.99
-0.30
8.27
2000
0.61
-0.91
2.19
-0.27
2.64
-1.56
4.56
7.25
2001
-1.19
-1.20
1.37
0.31
1.24
-2.02
3.37
1.88
2002
-2.09
-2.22
-1.42
-2.00
0.38
-1.51
3.30
-5.56
2003
3.23
2.85
3.72
4.56
3.57
4.03
1.59
23.54
2004
1.53
1.07
2.36
1.99
3.08
2.08
1.70
13.80
2005
0.71
0.48
0.61
0.74
1.19
1.56
0.96
6.24
2006
2.22
1.56
1.92
1.56
3.51
2.66
1.71
15.15
2007
0.01
0.54
-0.71
0.12
-1.65
1.55
2.77
2.63
2008
-3.60
-3.70
-3.21
-3.61
-3.71
-4.41
2.02
-20.21
2009
1.96
2.65
3.03
3.61
2.96
3.67
2.37
20.26
2010
1.43
1.49
2.48
2.77
2.83
1.11
2.57
14.68
2011
0.10
0.20
-0.42
-0.28
0.85
-1.46
3.02
2.02
2012
2013
2014
2015
Portfolio
Total
CAGR
Std Dev
Sharpe
Ratio
Sortino
Ratio
C-US
C-Intl
Nominal
49247.02989
9.744
10.97
0.56
0.91
0.90
0.74
Real
57447.12217
10.372
10.70
0.56
0.94
0.89
0.73
26
27

LCB
LCV
SCV
Portfolio
SCB
REIT
EAFE/ EM
ITB
TIPS
Correlation
NAESX
VGSIX
VGTSX
VBMFX
VIPSX
VFINX
VIVAX
VISVX
0.88
0.95
0.89
0.92
0.78
0.74
0.45

Rolling Returns
Portfolio
Balance
Rolling
Returns
1 year
Rolling
Returns
3 years
Rolling
Returns
5 years
Rolling
Returns
10 years
Rolling
Returns
15 years
10000
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
13703.36
18006.01
19665.31
23411.55
28680.08
26480.93
33366.18
34607.33
41225.92
41511.80
51835.79
58633.54
68583.18
81224.43
97613.08
90622.03
81541.70
71614.82
91846.72
103963.14
112410.14
130817.30
143110.20
101485.17
126887.92
143828.73
141055.71
37.03%
31.40%
9.22%
19.05%
22.50%
-7.67%
26.00%
3.72%
19.12%
0.69%
24.87%
13.11%
16.97%
18.43%
20.18%
-7.16%
-10.02%
-12.17%
28.25%
13.19%
8.13%
16.38%
9.40%
-29.09%
25.03%
13.35%
-1.93%
25.29%
19.55%
16.79%
10.43%
12.54%
6.46%
15.90%
7.55%
14.42%
12.46%
18.22%
16.15%
18.52%
9.73%
0.13%
-9.81%
0.45%
8.43%
16.22%
12.51%
11.24%
-3.35%
-1.01%
0.17%
11.60%
23.46%
14.08%
13.13%
11.97%
11.98%
7.68%
14.38%
11.94%
14.66%
14.53%
18.65%
11.82%
6.82%
0.87%
2.49%
1.27%
4.40%
9.92%
14.85%
2.02%
4.07%
5.05%
1.52%
15.30%
14.23%
12.53%
13.31%
13.25%
13.03%
13.09%
9.35%
7.54%
8.34%
9.62%
8.05%
8.36%
7.63%
2.25%
2.66%
4.73%
5.63%
16.40%
13.42%
10.59%
9.00%
9.54%
8.96%
10.12%
9.54%
9.93%
6.19%
7.73%
7.04%
6.03%
0.29
D10
REIT
EAFED
EM
Total Intl
Pacific
Europe
Intl Value
BRSIX
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
0%
0%
0%
0%
30%
0%
0%
COMM
PCRIX
0%
0%
3000
17.06
20.50
7.94
9.00
5.57
-6.46
5.78
-2.58
11.63
1.64
2.89
2.25
-0.32
4.68
8.98
-4.68
-6.05
-4.52
12.10
6.25
4.67
7.99
4.66
-13.23
11.02
3.34
-4.37
Portfolio Nominal (Rebalanced) = 141055.71
D10
REIT
EAFE
EM
EAFE85 /
EM15
Pacific
Europe
Intl.Val
BRSIX
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
0.61
0.53
0.88
0.77
0.90
0.70
0.92
COMM
PCRIX
0.85
0.26
D10
BRSIX
REIT
VGSIX
0%
EAFED
VDMIX
0%
0%
EM
VEIEX
Total Intl Pacific

VGTSX
VPACX
0%
30%
3000
4706.13
7921.73
10017.03
13021.12
15440.85
12114.97
14448.45
13207.71
18329.54
19334.26
21194.87
22784.50
22543.12
26059.84
33856.95
28571.88
22814.65
19374.20
27189.75
32856.09
37971.79
48087.47
55550.64
31052.81
42458.51
47179.89
40310.50
36.71%
Europe
VEURX
0%
Intl Value
VTRIX
0%
0%
COMM
PCRIX
0%
Portfolio Nominal (Unbalanced) = 123711.93
Total
Portfolio
Returns
Total
Nominal
REAL
REAL
4000
10000
5082.93
22.42
12242.28
6044.59
17.63
14400.35
6135.73
-2.80
13996.80
7151.99
11.63
15624.57
8339.85
11.43
17410.51
7874.54
-11.01
15493.07
9901.25
22.00
18901.41
10911.64
7.10
20243.06
12735.59
13.59
22994.81
12685.15
-2.99
22307.04
15552.53
19.57
26672.34
17742.61
10.41
29449.82
20834.60
15.46
34003.16
22241.68
5.06
35723.74
24081.57
5.44
37667.70
25828.21
3.74
39076.30
26314.29
0.33
39203.38
24852.01
-7.75
36165.24
30703.17
21.26
43855.71
34941.43
10.22
48335.95
37120.03
2.73
49653.70
42742.23
12.29
55757.64
43866.78
-1.39
54980.71
35003.06
-20.28
43831.24
42093.27
17.07
51313.96
48273.83
12.99
57978.71
49247.03
-0.92
57447.12
Portfolio Real (Unbalanced) = 57724.45
Portfolio
Returns
Cumulative
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
1
1.37
1.80
1.97
2.34
2.87
2.65
3.34
3.46
4.12
4.15
5.18
5.86
6.86
8.12
9.76
9.06
8.15
7.16
9.18
10.40
11.24
13.08
14.31
10.15
12.69
14.38
14.11
Rolling
Returns
1 year
37.03%
31.40%
9.22%
19.05%
22.50%
-7.67%
26.00%
3.72%
19.12%
0.69%
24.87%
13.11%
16.97%
18.43%
20.18%
-7.16%
-10.02%
-12.17%
28.25%
13.19%
8.13%
16.38%
9.40%
-29.09%
25.03%
13.35%
-1.93%
Rolling
Returns
3 years
25.29%
19.55%
16.79%
10.43%
12.54%
6.46%
15.90%
7.55%
14.42%
12.46%
18.22%
16.15%
18.52%
9.73%
0.13%
-9.81%
0.45%
8.43%
16.22%
12.51%
11.24%
-3.35%
-1.01%
0.17%
11.60%
Rolling
Returns
5 years
23.46%
14.08%
13.13%
11.97%
11.98%
7.68%
14.38%
11.94%
14.66%
14.53%
18.65%
11.82%
6.82%
0.87%
2.49%
1.27%
4.40%
9.92%
14.85%
2.02%
4.07%
5.05%
1.52%
LTGB
5 Yr T
ITB
TBILL
TIPS
Wellington
Wellesley
Energy
Health
VUSTX
VFITX
VBMFX
VUSXX
VIPSX
VWELX
VWINX
VGENX
VGHCX
0%
20%
0%
0%
0%
0%
0%
0%
P.Metals
VGPMX
0%
0%
2000
4.00
2.96
0.53
1.16
2.60
1.88
3.00
1.50
2.29
-0.87
4.09
0.38
1.79
2.12
-0.70
2.81
1.51
2.83
0.47
0.68
0.46
0.63
2.00
2.66
-0.34
1.47
1.96
Real (Rebalanced) = 65817.12
LTGB
5 Yr T
ITB
TBILL
STIPS
Bal
Bal
Energy
Health
P.Metals
VUSTX
VFITX
VBMFX
VMPXX
VIPSX
VWELX
VWINX
VGENX
VGHCX
VGPMX
0.01
0.03
0.32
0.24
0.31
0.88
0.66
0.51
0.57
0.43
LTGB
VUSTX
5 Yr T
VFITX
0%
ITB
VBMFX
20%
2000
2399.76
2754.96
2827.50
2992.20
3381.37
3699.75
4254.75
4573.87
5096.67
4875.98
5872.63
5985.39
6521.68
7213.63
6959.71
7936.15
8535.33
9743.08
9973.99
10313.11
10552.37
10883.72
11969.91
13564.31
13335.07
14315.20
15718.09
11.14%
0%
TBILL
VUSXX
0%
TIPS
VIPSX
Wellington
VWELX
0%
0%
Wellesley
VWINX
0%
Energy
VGENX
0%
Health P.Metals
VGHCX VGPMX
0%
0%
Real (Unbalanced) = 57724.45
Rolling Rolling
Returns Returns
10 years 15 years
15.30%
14.23%
12.53%
13.31%
13.25%
13.03%
13.09%
9.35%
7.54%
8.34%
9.62%
8.05%
8.36%
7.63%
2.25%
2.66%
4.73%
5.63%
16.40%
13.42%
10.59%
9.00%
9.54%
8.96%
10.12%
9.54%
9.93%
6.19%
7.73%
7.04%
6.03%
Windsor
Windsor II
V ST TE V Int TE
V LT TE Hi-Yld C
ST
Treasur MidCap
y
Growth
VWNDX
VWNFX
VWSTX VWITX
VWLTX VWEHX
VFISX
0%
0%
Windsor
WindsorII
VWNDX
VWNFX
0.83
0.77
0%
ST TE
VWSTX
0.23
0%
Inter TE
VWITX
0.48
0%
LT TE
0%
Hi-Yld
Corp
VWLTX VWEHX
0.50
0.81
VMGIX
0%
MidCap
Val
V Ext
Mkt
VMVIX
VEXMX
0%
0%
ST
Investm
ent
Grade
Global
Bond
Fund
PIGLX
0%
VFSTX
0%
0%
ST
Trsry
MCG
MCV
VG Ext
Mkt
Global Bond
STFund
Investment Grade
VFISX
VMGIX
VMVIX
VEXMX
PIGLX
0.14
0.86
0.76
0.90
0.24
VFSTX
0.61
Windsor
VWNDX
0%
ST
V ST
V LT
Treasu MidCap
Windsor II TE
V Int TE TE
Hi-Yld C ry
Growth
VWNFX
VWSTX VWITX VWLTX VWEHX VFISX VMGIX
0%
0%
0%
0%
0%
0%
0%
MidCap
Val
VMVIX
0%
Global
V Ext
Bond
Mkt
Fund
VEXMX PIGLX
0%
0%
ST
Investm
ent
Grade
VFSTX
0%
GOLD
VG Intl
Small
GLD
VFSVX
0%
0%
Portfolio
Returns
0%
0%
0%
0%
0%
0%
0%
0%
Total
0%
10000
GOLD
VG Intl Small
GLD
VFSVX
0.03
0.77
37.03
13703.36
31.40
18006.01
9.22
19665.31
19.05
23411.55
22.50
28680.08
-7.67
26480.93
26.00
33366.18
3.72
34607.33
19.12
41225.92
0.69
41511.80
24.87
51835.79
13.11
58633.54
16.97
68583.18
18.43
81224.43
20.18
97613.08
-7.16
90622.03
-10.02
81541.70
-12.17
71614.82
28.25
91846.72
13.19
103963.14
8.13
112410.14
16.38
130817.30
9.40
143110.20
-29.09
101485.17
25.03
126887.92
13.35
143828.73
-1.93
141055.71
GOLD
GLD
0%
VG Intl
Small
VFSVX
0%
Portfolio
Returns
0%
0%
0%
0%
0%
0%
0%
0%
Total
0%
10000
37.03
13703.36
33.70
18321.82
12.46
20604.89
22.07
25153.17
21.58
30581.15
-12.21
26847.15
24.91
33535.70
1.49
34036.78
21.56
41373.61
1.82
42127.14
22.00
51396.85
13.23
58198.66
16.18
67613.55
19.49
80788.67
23.34
99645.22
-10.56
89118.42
-12.26
78189.01
-15.41
66138.85
29.71
85791.57
14.10
97885.24
8.81
106512.21
18.25
125953.19
9.71
138179.87
-35.52
89104.22
26.87
113048.48
13.70
128534.85
-3.75
123711.93
Portfolio
Returns
Real
Total in
Growth of
1985 dollars 10000
Previous
Max
Growth
1
4.0%
10000 Avg. Drawdown Rebalanced = 4.0%
32.02
13201.86
29.97
17158.67
4.58
17944.17
14.01
20458.39
17.06
23949.34
-12.98
20840.37
22.25
25478.31
0.80
25681.13
15.94
29774.28
-1.93
29199.68
21.78
35559.01
9.48
38928.83
15.01
44772.53
16.55
52183.84
17.04
61073.42
-10.20
54841.95
-11.39
48592.76
-14.21
41686.24
25.89
52476.72
9.62
57526.63
4.55
60146.28
13.49
68260.96
5.11
71747.25
-29.15
50832.37
21.72
61873.27
11.68
69097.51
-4.75
65817.12
1.00
1.31
1.44
1.71
2.09
1.93
2.43
2.53
3.01
3.03
3.78
4.28
5.00
5.93
7.12
6.61
5.95
5.23
6.70
7.59
8.20
9.55
10.44
7.41
9.26
10.50
10.29
1.00
1.31
1.44
1.71
2.09
2.09
2.43
2.53
3.01
3.03
3.78
4.28
5.00
5.93
7.12
7.12
7.12
7.12
7.12
7.59
8.20
9.55
10.44
10.44
10.44
10.50
10.50
0.0%
0.0%
0.0%
0.0%
0.0%
7.7%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
7.2%
16.5%
26.6%
5.9%
0.0%
0.0%
0.0%
0.0%
29.1%
11.3%
0.0%
1.9%
TBILL
Inflation
VMPXX
CPI-U
0.24
1984
4.16%
2.87%
1.25%
7.37
3.80
6
1.10
6.12
4.43
7.18
4.42
8.87
4.65
7.94
6.11
5.73
3.06
3.53
2.90
2.86
2.75
3.81
2.67
5.49
2.54
5.09
3.32
5.12
1.70
5
1.61
4.55
2.68
5.8
3.39
3.99
1.55
1.51
2.38
0.82
1.88
1
3.26
2.77
3.42
4.55
2.54
4.65
4.08
1.97
0.09
0.53
2.72
0.01
1.50
0.02
2.96
Portfolio
Returns
Real
Total in
Growth of
1985 dollars 10000
10000
32.02
13201.86
32.25
17459.61
7.69
18801.52
16.91
21980.32
16.18
25536.84
-17.26
21128.58
21.20
25607.75
-1.37
25257.74
18.30
29880.94
-0.83
29632.52
18.98
35257.90
9.59
38640.10
14.23
44139.54
17.59
51903.89
20.12
62344.87
-13.49
53932.01
-13.60
46594.81
-17.38
38498.73
27.32
49017.11
10.50
54163.51
5.22
56990.53
15.32
65722.85
5.41
69275.46
-35.57
44630.95
23.51
55124.86
12.02
61750.10
-6.52
57724.45
Previous
Max
Growth
1
5.9%
1.00
1.00
0.0%
1.34
1.34
0.0%
1.50
1.50
0.0%
1.84
1.84
0.0%
2.23
2.23
0.0%
1.96
2.23
12.2%
2.45
2.45
0.0%
2.48
2.48
0.0%
3.02
3.02
0.0%
3.07
3.07
0.0%
3.75
3.75
0.0%
4.25
4.25
0.0%
4.93
4.93
0.0%
5.90
5.90
0.0%
7.27
7.27
0.0%
6.50
7.27
10.6%
5.71
7.27
21.5%
4.83
7.27
33.6%
6.26
7.27
13.9%
7.14
7.27
1.8%
7.77
7.77
0.0%
9.19
9.19
0.0%
10.08
10.08
0.0%
6.50
10.08
35.5%
8.25
10.08
18.2%
9.38
10.08
7.0%
9.03
10.08
10.5%
TBill85
Real
3.44
4.85
1.61
2.64
4.04
1.73
2.59
0.61
0.11
1.11
2.88
1.71
3.36
3.33
1.82
2.33
2.40
-0.85
-1.04
-2.18
-0.62
1.96
0.55
1.88
-2.13
-1.47
-2.86
Rolling
Returns
1 year
37.03%
31.40%
9.22%
19.05%
22.50%
-7.67%
26.00%
3.72%
19.12%
0.69%
24.87%
13.11%
16.97%
18.43%
20.18%
-7.16%
-10.02%
-12.17%
28.25%
13.19%
8.13%
16.38%
9.40%
-29.09%
25.03%
13.35%
-1.93%
Rolling
Returns
3 years
TRUE
25.29%
19.55%
16.79%
10.43%
12.54%
6.46%
15.90%
7.55%
14.42%
12.46%
18.22%
16.15%
18.52%
9.73%
0.13%
-9.81%
0.45%
8.43%
16.22%
12.51%
11.24%
-3.35%
-1.01%
0.17%
11.60%
Rolling
Returns
5 years
FALSE
23.46%
14.08%
13.13%
11.97%
11.98%
7.68%
14.38%
11.94%
14.66%
14.53%
18.65%
11.82%
6.82%
0.87%
2.49%
1.27%
4.40%
9.92%
14.85%
2.02%
4.07%
5.05%
1.52%
Rolling
Returns
10 years
FALSE
15.30%
14.23%
12.53%
13.31%
13.25%
13.03%
13.09%
9.35%
7.54%
8.34%
9.62%
8.05%
8.36%
7.63%
2.25%
2.66%
4.73%
5.63%
Rolling
Returns
15 years
FALSE
16.40%
13.42%
10.59%
9.00%
9.54%
8.96%
10.12%
9.54%
9.93%
6.19%
7.73%
7.04%
6.03%
Rolling
Returns
1 year
37.03%
33.70%
12.46%
22.07%
21.58%
-12.21%
24.91%
1.49%
21.56%
1.82%
22.00%
13.23%
16.18%
19.49%
23.34%
-10.56%
-12.26%
-15.41%
29.71%
14.10%
8.81%
18.25%
9.71%
-35.52%
26.87%
13.70%
-3.75%
Rolling
Returns
3 years
27.25%
22.44%
18.62%
9.22%
10.06%
3.63%
15.51%
7.90%
14.73%
12.05%
17.08%
16.27%
19.63%
9.64%
-1.08%
-12.77%
-1.26%
7.78%
17.21%
13.65%
12.18%
-5.77%
-3.54%
-2.38%
11.56%
Rolling
Returns
5 years
25.05%
14.40%
12.85%
10.56%
10.47%
6.62%
13.87%
11.66%
14.71%
14.32%
18.79%
11.64%
6.08%
-0.44%
1.21%
-0.36%
3.63%
10.01%
15.88%
0.76%
2.92%
3.83%
-0.36%
Rolling
Returns
10 years
15.47%
14.13%
12.25%
12.62%
12.38%
12.54%
12.75%
8.83%
6.87%
7.57%
8.80%
7.56%
8.03%
7.41%
0.98%
1.27%
3.73%
4.70%
Rolling
Returns
15 years
16.56%
13.29%
10.16%
8.09%
8.52%
8.06%
9.62%
9.22%
9.79%
5.25%
6.80%
6.30%
5.16%
Rolling
Returns
(Real)
1 year
32.02%
29.97%
4.58%
14.01%
17.06%
-12.98%
22.25%
0.80%
15.94%
-1.93%
21.78%
9.48%
15.01%
16.55%
17.04%
-10.20%
-11.39%
-14.21%
25.89%
9.62%
4.55%
13.49%
5.11%
-29.15%
21.72%
11.68%
-4.75%
Rolling
Returns
(Real)
3 years
TRUE
21.52%
15.72%
11.76%
5.11%
7.59%
2.35%
12.63%
4.65%
11.46%
9.35%
15.31%
13.64%
16.20%
7.00%
-2.35%
-11.95%
-1.46%
5.79%
13.00%
9.16%
7.64%
-5.45%
-3.22%
-1.25%
8.99%
Rolling
Returns
(Real)
5 years
FALSE
19.09%
9.56%
8.23%
7.43%
7.79%
4.04%
11.28%
8.85%
11.76%
11.88%
15.90%
9.05%
4.53%
-1.42%
0.11%
-1.19%
1.86%
7.03%
11.47%
-0.63%
1.47%
2.81%
-0.73%
Rolling
Returns
(Real)
10 years
FALSE
11.31%
10.42%
8.54%
9.57%
9.82%
9.81%
10.16%
6.67%
4.96%
5.83%
7.02%
5.40%
5.78%
4.83%
-0.26%
0.13%
2.34%
3.08%
Rolling
Returns
(Real)
15 years
FALSE
12.82%
9.96%
7.19%
5.78%
6.48%
6.02%
7.32%
6.79%
7.09%
3.63%
5.13%
4.53%
3.56%
Rolling
Returns
(Real)
1 year
32.02%
32.25%
7.69%
16.91%
16.18%
-17.26%
21.20%
-1.37%
18.30%
-0.83%
18.98%
9.59%
14.23%
17.59%
20.12%
-13.49%
-13.60%
-17.38%
27.32%
10.50%
5.22%
15.32%
5.41%
-35.57%
23.51%
12.02%
-6.52%
Rolling
Returns
(Real)
3 years
23.42%
18.52%
13.51%
3.97%
5.22%
-0.37%
12.25%
4.99%
11.76%
8.95%
14.21%
13.76%
17.29%
6.91%
-3.53%
-14.84%
-3.13%
5.15%
13.97%
10.27%
8.55%
-7.83%
-5.69%
-3.76%
8.95%
Rolling
Returns
(Real)
5 years
20.62%
9.86%
7.96%
6.08%
6.33%
3.02%
10.78%
8.58%
11.81%
11.68%
16.04%
8.87%
3.81%
-2.70%
-1.14%
-2.77%
1.11%
7.12%
12.47%
-1.86%
0.35%
1.62%
-2.56%
Rolling
Returns
(Real)
10 years
11.47%
10.32%
8.27%
8.91%
8.97%
9.34%
9.82%
6.17%
4.31%
5.07%
6.22%
4.92%
5.46%
4.61%
-1.50%
-1.22%
1.36%
2.17%
Rolling
Returns
(Real)
15 years
12.98%
9.84%
6.76%
4.89%
5.49%
5.14%
6.84%
6.49%
6.96%
2.71%
4.23%
3.81%
2.71%
YEAR
2011
MKT-TSM LCV
500 Idx LCG
MCB
SCV
SCB
SCG
D10
REIT
VTSMX
VIVAX VFINX
VIGRX VIMSX VISVX
NAESX VISGX BRSIX VGSIX
ER
0.19
0.21
0.18
0.22
0.22
0.23
0.23
0.23
0.67
0.21
YOI
1993
1993
1977
1992
1999
1999
1992
1999
1998
1997
Minimum for the Year
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
16.68
-18.26
-27.34
38.44
26.46
-4.38
7.30
22.77
32.45
-3.88
20.57
21.77
4.30
31.95
15.88
1.51
17.78
28.66
-6.18
34.44
9.59
10.41
-0.17
35.79
20.96
30.99
23.26
23.81
-10.57
-10.97
-20.96
31.35
12.52
5.98
15.51
5.49
-37.04
28.70
17.09
0.96
18.75
-3.80
-23.26
56.87
43.70
1.19
3.08
20.25
24.14
1.09
19.75
28.03
9.87
31.22
19.75
0.29
22.94
24.94
-8.29
24.34
13.56
18.10
-0.73
36.94
21.86
29.77
14.64
12.57
6.08
-11.88
-20.91
32.25
15.29
7.09
22.15
0.09
-35.97
19.58
14.28
1.00
18.79
-14.85
-26.63
36.95
23.68
-7.97
5.90
18.00
31.90
-5.20
20.90
21.30
6.21
31.23
18.06
4.71
16.22
31.36
-3.32
30.22
7.42
9.89
1.18
37.45
22.88
33.19
28.62
21.07
-9.06
-12.02
-22.15
28.50
10.74
4.77
15.64
5.39
-37.02
26.49
14.91
1.97
21.23
-21.77
-29.36
33.91
17.54
-9.90
6.67
23.63
39.29
-11.49
20.24
15.75
-1.22
32.61
15.15
5.07
11.06
35.60
-0.52
40.89
4.77
1.53
2.89
38.06
23.74
36.34
42.21
28.76
-22.21
-12.93
-23.68
25.92
7.20
5.09
9.01
12.56
-38.32
36.29
16.96
1.71
8.86
-26.66
-25.36
57.05
40.09
3.77
10.66
32.21
32.21
2.18
23.03
23.53
1.18
31.71
17.94
-0.02
19.54
26.02
-11.69
41.19
16.14
14.05
-2.31
34.10
18.74
28.72
9.86
15.07
18.10
-0.50
-14.61
34.14
20.35
13.93
13.60
6.02
-41.82
40.22
25.46
-2.11
6.75
-26.17
-18.39
54.15
53.25
21.52
21.52
35.09
25.11
14.64
28.21
38.28
2.07
30.70
7.15
-7.31
29.20
12.14
-21.98
41.37
28.80
23.52
-1.73
25.51
21.12
31.50
-6.71
3.11
21.88
13.70
-14.20
37.19
23.55
6.07
19.24
-7.07
-32.05
30.34
24.82
-4.16
4.16
-31.06
-20.08
52.45
57.04
25.11
23.22
42.77
38.28
1.77
24.61
28.80
-7.51
30.80
5.46
-9.01
24.61
15.93
-19.68
45.76
17.93
18.70
-0.51
28.74
18.12
24.59
-2.61
23.13
-2.67
3.10
-20.02
45.63
19.90
7.36
15.64
1.16
-36.07
36.12
27.72
-2.80
3.46
-39.24
-33.55
62.83
43.17
20.02
18.33
50.45
51.95
-9.41
20.72
19.82
-15.99
30.70
3.36
-10.71
20.12
19.92
-17.59
50.85
7.55
13.14
-2.62
30.70
11.04
12.64
0.97
19.53
1.59
-0.78
-15.41
42.88
16.06
8.64
11.94
9.63
-40.00
41.85
30.69
-1.58
-0.86
-42.09
-29.37
71.25
54.66
22.38
27.55
41.25
29.63
7.08
27.15
36.39
-20.04
24.86
-0.37
-15.47
20.00
4.80
-31.76
47.31
32.71
24.57
-3.55
29.23
16.02
20.69
-2.46
31.49
0.67
23.98
4.90
79.43
20.12
4.08
11.48
-5.40
-39.49
25.95
24.86
-7.86
7.77
-15.68
-21.56
19.05
47.29
22.14
10.07
35.62
24.14
5.78
21.35
30.33
20.65
18.85
18.95
-3.80
13.26
8.57
-15.58
35.42
14.36
19.45
2.98
15.06
35.02
18.52
-16.32
-4.04
26.35
12.35
3.75
35.65
30.76
11.89
35.07
-16.46
-37.05
29.58
28.30
8.47
VTSMX
Average
StDEV
CAGR
Variance
Correlation w/
US Mkt
Correlation w/
Intl Mkt
Sharpe
Ratio
VIVAX
VIMSX
11.18
18.10
9.58
327.73
1.00
0.93
0.99
0.96
0.92
0.76
0.66
0.63
0.66
0.61
0.59
0.32
0.40
0.32
0.27
0.42
Best =
72P - 1$
72P1 - 1$
72P2 - 1$
72P3 - 1$
72P4 - 1$
72P5 - 1$
VEIEX
$40.33
$40.33
$40.33
$40.33
$40.33
$40.33
$70.18
$70.18
$70.18
$70.18
$70.18
$70.18
$38.80
$38.80
$38.80
$38.80
$38.80
$38.80
11.01 13.86
20.92 20.13
8.89 11.91
437.82 405.15
VISVX
12.77
18.19
11.21
331.04
$40.33
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
VIGRX
11.34
18.40
9.68
338.43
$1 Portfolio =
YEAR
2011
VFINX
$30.20
$30.20
$30.20
$30.20
$30.20
$30.20
$90.04
$90.04
$90.04
$90.04
$90.04
$90.04
NAESX
14.79
13.91
20.86
22.39
12.79
11.60
435.00 501.42
VISGX
BRSIX
VGSIX
12.19
24.41
9.39
595.95
14.14
26.89
10.82
723.17
13.41
18.57
11.75
344.76
0.85
0.86
0.73
0.62
0.46
0.53
0.54
0.45
0.41
0.45
0.38
0.28
0.32
0.43
$123.13
$123.13
$123.13
$123.13
$123.13
$123.13
$80.67
$80.67
$80.67
$80.67
$80.67
$80.67
$36.28
$36.28
$36.28
$36.28
$36.28
$36.28
$60.90
$60.90
$60.90
$60.90
$60.90
$60.90
$85.00
$85.00
$85.00
$85.00
$85.00
$85.00
MKT-TSM LCV
500 Idx LCG
MCB
SCV
SCB
SCG
D10
REIT
VTSMX
VIVAX VFINX
VIGRX VIMSX VISVX
16.9
19
19
21.5
9.1
7
4.4
3.7
-0.2
8
-18.1
-3.6
-14.7
-21.6
-26.5
-26
-30.9
-39.1
-41.7
-15.5
-27.2
-23.1
-26.5
-29.2
-25.2
-18.2
-19.9
-33.4
-28.9
-21.4
38.7
57.2
37.2
34.2
57.4
54.5
52.8
63.2
72.4
19.3
26.7
44
23.9
17.8
40.4
53.6
57.4
43.5
55.7
47.6
-4.2
1.4
-7.8
-9.7
4
21.8
25.4
20.3
23.2
22.4
7.5
3.3
5.9
6.9
10.9
21.8
23.5
18.6
28.4
10.3
23
20.5
18
23.9
32.5
35.4
43.1
50.8
42.2
35.9
32.7
24.4
31.9
39.6
32.5
25.4
38.6
52.3
30.5
24.4
-3.7
1.3
-5.2
-11.3
2.4
14.9
2
-9.2
7.8
6
20.8
20
20.9
20.5
23.3
28.5
24.9
21
28
21.6
22
28.3
21.3
16
23.8
38.6
29.1
20.1
37.3
30.6
4.5
10.1
6.21
-1
1.4
2.3
-7.3
-15.8
-19.5
20.9
32.2
31.5
31.23
32.9
32
31
31.1
31
25.7
19.1
16.1
20
18.06
15.4
18.2
7.4
5.7
3.6
0.3
19.2
1.7
0.5
4.71
5.3
0.2
-7.1
-8.8
-10.5
-14.9
-3.6
18
23.2
16.22
11.3
19.8
29.5
24.9
20.4
20.8
13.5
28.9
25.2
31.36
35.9
26.3
12.4
16.2
20.2
5.5
8.8
-6
-8.1
-3.32
-0.3
-11.5
-21.8
-19.5
-17.4
-31.3
-15.4
34.7
24.6
30.22
41.2
41.5
41.7
46.1
51.2
48.3
35.7
9.8
13.8
7.42
5
16.4
29.1
18.2
7.8
33.6
14.6
10.62
18.35
9.89
1.53
14.3
23.8
18.7
13.4
25.4
19.7
-0.17
-0.73
1.18
2.89
-2.1
-1.5
-0.51
-2.4
-2.9
3.2
35.79
36.94
37.45
38.06
34.4
25.8
28.74
31
30.1
15.3
20.96
21.86
22.88
23.74
19
21.4
18.12
11.3
16.8
35.3
30.99
29.77
33.19
36.34
29
31.8
24.59
12.9
21.5
18.77
23.26
14.64
28.62
42.21
10.1
-6.5
-2.61
1.2
-1.81 -16.32
23.81
12.57
21.07
28.76 15.32
3.35
23.13
19.8
31.49
-4.04
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
-10.57
-10.97
-20.96
31.35
12.52
5.98
15.51
5.49
-37.04
28.70
17.09
0.96
6.08
-11.88
-20.91
32.25
15.29
7.09
22.15
0.09
-35.97
19.58
14.28
1
-9.06
-12.02
-22.15
28.5
10.74
4.77
15.64
5.39
-37.02
26.49
14.91
1.97
-22.21
-12.93
-23.68
25.92
7.2
5.09
9.01
12.56
-38.32
36.29
16.96
1.71
18.1
-0.5
-14.61
34.14
20.35
13.93
13.6
6.02
-41.82
40.22
25.46
-2.11
21.88
13.7
-14.2
37.19
23.55
6.07
19.24
-7.07
-32.05
30.34
24.82
-4.16
-2.67
3.1
-20.02
45.63
19.9
7.36
15.64
1.16
-36.07
36.12
27.72
-2.8
1.59
-0.78
-15.41
42.88
16.06
8.64
11.94
9.63
-40
41.85
30.69
-1.58
0.67
23.98
4.9
79.43
20.12
4.08
11.48
-5.4
-39.49
25.95
24.86
-7.86
26.35
12.35
3.75
35.65
30.76
11.89
35.07
-16.46
-37.05
29.58
28.3
8.47
Correlations between different assets

VTSMX
VIVAX VFINX
VIGRX VIMSX VISVX
VTSMX
1.00
VIVAX
0.93
1.00
VFINX
0.99
0.92
1.00
VIGRX
0.96
0.81
0.97
1.00
VIMSX
0.92
0.92
0.89
0.82
1.00
VISVX
0.76
0.83
0.70
0.59
0.91
1.00
NAESX
0.85
0.84
0.79
0.73
0.93
0.94
1.00
VISGX
0.86
0.81
0.80
0.77
0.94
0.87
0.96
1.00
BRSIX
0.73
0.74
0.66
0.59
0.84
0.90
0.93
0.89
1.00
VGSIX
0.62
0.70
0.57
0.45
0.77
0.86
0.79
0.73
0.74
1.00
VDMIX
0.66
0.63
0.66
0.61
0.59
0.46
0.53
0.54
0.45
0.41
VEIEX
0.57
0.49
0.53
0.51
0.54
0.45
0.55
0.56
0.49
0.40
VGTSX
0.66
0.63
0.66
0.61
0.60
0.47
0.56
0.56
0.47
0.42
VPACX
0.44
0.41
0.43
0.40
0.36
0.26
0.35
0.35
0.30
0.25
VEURX
0.76
0.72
0.76
0.72
0.67
0.53
0.59
0.61
0.50
0.44
VTRIX
0.60
0.59
0.59
0.53
0.56
0.46
0.52
0.52
0.45
0.41
PCRIX
0.09
0.10
0.09
0.08
0.11
-0.01
0.04
0.11
0.02
0.12
VUSTX
0.05
0.11
0.08
0.02
0.06
0.04
-0.05
-0.04
-0.05
0.00
VFITX
0.06
0.11
0.09
0.04
0.08
0.07
-0.03
-0.02
-0.03
0.01
VBMFX
0.29
0.32
0.30
0.24
0.31
0.29
0.19
0.18
0.14
0.21
VUSXX
0.08
0.11
0.10
0.07
0.04
0.07
0.03
0.00
-0.08
-0.03
VIPSX
0.20
0.17
0.17
0.16
0.27
0.24
0.24
0.29
0.26
0.23
VWELX
0.92
0.91
0.92
0.84
0.92
0.80
0.80
0.80
0.70
0.71
VWINX
0.71
0.76
0.72
0.61
0.74
0.69
0.60
0.59
0.51
0.63
VWNDX
0.85
0.92
0.82
0.70
0.93
0.92
0.89
0.83
0.82
0.81
VFISX
0.08
0.10
0.09
0.05
0.09
0.12
0.03
0.03
0.01
0.01
GLD
-0.22
-0.26
-0.24
-0.17
-0.23
-0.24
-0.13
-0.08
-0.18
-0.11
VFSVX
0.53
0.48
0.51
0.48
0.46
0.36
0.48
0.49
0.42
0.32
YearEnd
1972-1975
1976-1980
1981-1985
1986-1990
1991-1995
1996-2000
2001-2005
2006-2010
0.96
1.00
1.97
1.71
MKT-TSM LCV
500 Idx
VTSMX
VIVAX VFINX
-1.03%
8.29%
0.40%
16.10% 17.48% 13.41%
14.20% 17.45% 14.15%
10.83% 11.09% 12.78%
17.14% 17.78% 16.41%
16.68% 16.70% 18.31%
1.97%
2.62%
0.42%
2.94%
1.36%
2.21%
LCG
VIGRX
-2.68%
14.23%
10.04%
12.63%
16.31%
19.17%
-1.17%
3.82%
1972-1979
1980-1989
1990-1999
2000-2009
5.44%
16.45%
17.47%
-0.27%
12.01%
17.73%
15.55%
1.23%
1972-2011
9.68%
11.21%
-2.11
-4.16
-2.80
MCB
SCV
VIMSX VISVX
-1.64% -0.21%
22.97% 30.77%
15.66% 22.08%
9.42%
2.34%
19.63% 22.64%
17.94% 13.30%
9.34% 11.89%
4.27%
4.14%
SCB
NAESX
-3.29%
36.73%
14.59%
2.17%
21.18%
11.43%
9.10%
5.39%
4.71% 2.86% 8.98%

17.04% 15.14% 17.13%
18.08% 20.66% 15.38%
-1.03% -2.75% 6.13%
9.58%
8.89% 11.91%
-1.58
-7.86
8.47
SCG
D10
VISGX BRSIX
-9.19% -8.71%
35.98% 34.62%
7.55% 13.14%
1.85% -6.29%
18.50% 24.87%
8.93% 12.57%
8.62% 23.88%
6.42%
0.07%
REIT
VGSIX
-4.02%
27.23%
19.12%
3.50%
16.99%
10.18%
18.26%
3.38%
14.87% 14.83% 9.59%

17.18% 14.25% 11.26%
12.74% 13.99% 11.26%
7.69% 4.36% 4.84%
11.38% 10.84%
9.79% 15.40%
14.04% 9.05%
8.97% 10.40%
12.79% 11.60%
10.82% 11.75%
9.39%
Total
Intl
EAFED EM
Intl
Pacific Europe Value COMM LTGB 5 Yr T ITB
TBILL S-TIPS
VDMIX VEIEX VGTSX VPACX VEURX VTRIX PCRIX VUSTX VFITX VBMFX VUSXX VIPSX
0.27
0.42
0.29
0.27
0.27
0.46
0
0.26
0.26
0.2
0.24
0.2
2001
1995
1997
1991
1991
1991
2003
1987
1992
1987
1984
2001
um for the Year

35.93
-15.13
-23.41
35.04
2.22
17.78
32.24
4.52
22.27
-1.27
-1.17
24.26
7.61
56.28
69.44
24.56
28.25
10.50
-23.41
12.20
-12.04
32.54
7.81
11.30
6.11
1.83
19.98
26.96
-14.23
-22.25
-15.70
38.61
20.25
13.34
26.18
10.99
-41.62
28.17
8.54
-12.53
Maximum for the year

49.57
-14.16
-25.61
43.60
6.85
49.97
52.96
2.17
26.27
4.16
-1.51
32.05
9.84
60.23
62.02
37.12
39.81
64.31
-10.97
59.23
10.93
74.07
-7.69
0.14
15.83
-16.82
-18.12
61.57
-27.56
-2.88
-7.43
57.65
26.12
32.05
29.39
38.90
-52.81
75.98
18.86
-19.18
37.98
-14.98
-23.74
36.32
2.92
22.62
35.35
4.17
22.87
-0.45
-1.22
25.43
7.94
56.87
68.33
26.45
29.99
18.58
-21.54
19.26
-8.59
38.78
5.48
9.62
7.50
-1.06
15.60
29.92
-15.61
-20.15
-15.08
40.34
20.84
15.57
26.64
15.52
-44.10
36.73
11.12
-14.56
106.99
-21.16
-21.15
26.38
21.31
13.38
48.37
-3.74
36.01
8.02
-6.51
26.08
13.17
39.01
93.30
39.47
34.83
2.40
-34.47
10.35
-18.17
35.46
13.04
2.75
-7.82
-25.67
2.41
57.05
-25.74
-26.34
-9.32
38.42
18.83
22.59
11.99
4.78
-34.36
21.18
15.77
-14.00
15.29
-7.95
-23.01
43.51
-6.65
23.57
23.97
14.39
14.19
-10.64
5.42
22.07
1.03
79.32
44.11
3.82
16.09
28.75
-3.66
12.10
-3.32
29.13
1.88
22.28
21.26
24.23
28.86
16.62
-8.18
-20.30
-17.95
38.70
20.86
9.26
33.42
13.82
-44.73
31.91
4.91
-11.60
36.32
-14.97
-22.88
38.35
2.86
29.39
42.02
5.50
18.21
8.49
-2.65
28.76
8.51
54.40
64.61
34.40
37.97
17.62
-21.99
10.29
-10.80
40.40
11.40
11.70
9.20
-4.58
19.46
21.81
-7.48
-14.02
-13.35
41.90
19.77
17.96
27.37
12.66
-41.74
33.77
7.31
-14.58
38.69
68.40
4.10
5.11
-5.55
3.05
26.37
34.26
6.12
-22.52
3.84
12.24
-3.51
13.03
-6.19
17.91
18.50
27.72
25.13
3.77
6.59
6.42
5.89
24.29
18.35
-1.00
-25.30
19.66
35.83
-15.25
39.93
29.82
16.36
20.50
-3.04
23.80
-43.33
39.92
24.13
5.43
-1.36
4.13
8.92
16.50
-0.96
-1.46
-1.46
-4.25
1.64
40.04
0.44
15.20
30.66
24.18
-3.18
9.15
17.93
5.78
17.43
7.40
16.79
-7.03
30.11
-1.25
13.90
13.05
-8.66
19.72
4.31
16.67
2.68
7.12
6.61
1.74
9.24
22.52
-12.05
8.93
29.28
4.93
4.33
5.43
7.52
12.61
1.14
3.23
3.83
3.63
9.12
28.77
7.12
13.70
19.99
14.80
2.63
5.82
13.01
9.42
15.00
7.50
11.43
-4.33
20.44
1.92
8.96
10.61
-3.52
14.03
7.55
14.15
2.37
3.40
2.32
3.14
9.98
13.32
-1.69
7.35
9.80
5.49
3.19
6.79
8.08
11.48
2.79
2.00
6.39
6.39
10.58
25.15
7.98
14.07
17.76
12.87
0.94
7.35
13.64
8.65
15.25
7.14
9.68
-2.66
18.18
3.58
9.44
8.58
-0.76
11.39
8.43
8.26
3.97
4.24
2.40
4.27
6.92
5.05
5.93
6.42
7.56
3.55
6.64
7.74
5.55
4.85
4.85
6.94
10.14
11.03
14.43
10.24
8.54
9.54
7.37
6.00
6.12
7.18
8.87
7.94
5.73
3.53
2.86
3.81
5.49
5.09
5.12
5.00
4.55
5.80
3.99
1.51
0.82
1.00
2.77
4.55
4.65
1.97
0.53
0.01
0.02
-2.59
-3.99
4.99
16.17
-0.30
7.78
9.68
9.78
15.17
5.79
-7.78
16.87
15.57
8.68
21.96
8.18
18.66
5.89
5.99
15.67
7.29
15.47
2.99
0.60
3.89
7.78
2.59
7.68
4.59
7.40
16.61
8.00
8.27
2.59
0.43
11.59
-2.85
10.80
6.17
13.24
VDMIX
VEIEX
11.32
20.92
22.66
32.40
8.96
16.28
513.70 1049.45
VGTSX
VPACX
12.69
23.46
10.14
550.47
12.87
31.10
8.95
967.27
VEURX
VTRIX
12.17 13.58
22.26 23.05
9.91 11.15
495.36 531.46
PCRIX
VUSTX
12.67
9.15
20.69
11.75
10.66
8.55
428.07 138.18
VFITX
VBMFX
VUSXX
VIPSX
8.12
6.66
7.92
44.39
7.87
5.37
7.74
28.88
5.41
3.20
5.36
10.23
7.68
6.69
7.48
44.74
0.66
0.57
0.66
0.44
0.76
0.60
0.09
0.05
0.06
0.29
0.08
0.20
1.00
0.82
0.99
0.86
0.88
0.98
0.11
-0.08
-0.12
0.01
0.01
0.40
0.26
0.48
0.31
0.24
0.30
0.35
0.35
0.32
0.41
0.46
0.00
0.34
$30.96
$30.96
$30.96
$30.96
$30.96
$30.96
$417.23
$417.23
$417.23
$417.23
$417.23
$417.23
$47.70
$47.70
$47.70
$47.70
$47.70
$47.70
$30.89
$30.89
$30.89
$30.89
$30.89
$30.89
$43.80
$43.80
$43.80
$43.80
$43.80
$43.80
$68.67
$68.67
$68.67
$68.67
$68.67
$68.67
$51.92
$51.92
$51.92
$51.92
$51.92
$51.92
$26.58
$26.58
$26.58
$26.58
$26.58
$26.58
$21.11
$21.11
$21.11
$21.11
$21.11
$21.11
$19.76
$19.76
$19.76
$19.76
$19.76
$19.76
$8.08
$8.08
$8.08
$8.08
$8.08
$8.08
$17.90
$17.90
$17.90
$17.90
$17.90
$17.90
Total
Intl
EAFED EM
Intl
Pacific Europe Value COMM LTGB 5 Yr T ITB
TBILL S-TIPS
VDMIX VEIEX VGTSX VPACX VEURX VTRIX PCRIX VUSTX VFITX VBMFX VUSXX VIPSX
36.3
50.2
38.39 107.55
15.6 36.95
38.69
5.7
5.2
5.7
3.8 -2.4
-14.9
-13.8
-14.74 -20.95
-7.7 -14.58
68.4
-1.1
4.6
3.4
6.9 -3.8
-23.2
-25.3
-23.52 -20.94
-22.8 -22.53
4.1
4.4
5.7
7
8
5.2
35.4
44.2
36.72
26.72
43.9 38.99
5.11
9.2
7.8
8.3
5.8 16.4
2.5
7.3
3.22
21.64
-6.4
3.33
-5.55
16.8
12.9
11.7
5.1 -0.1
18.1
50.6
22.98
13.69
23.9 29.99
3.05
-0.7
1.4
3
5.1
8
32.6
53.6
35.75
48.77
24.3 42.67
26.37
-1.2
3.5
2.2
7.2
9.9
4.8
2.6
4.47
-3.48
14.7
5.99
34.26
-1.2
4.1
6.6
10.4
10
22.6
26.8
23.23
36.38
14.5 18.75
6.12
-4
3.9
6.6
11.3 15.4
-1
4.6
-0.16
8.31
-10.4
8.99
-22.52
1.9
9.4
10.8
14.7
6
-0.9
-1.1
-0.93
-6.26
5.7
-2.2
3.84
40.4
29.1
25.4
10.5 -7.6
24.6
32.6
25.80
26.42
22.4 29.35
12.24
0.7
7.4
8.2
8.8 17.1
7.9
10.3
8.26
13.48
1.3
9.01
-3.51
15.5
14
14.3
9.8 15.8
56.7
60.9
57.33
39.39
79.8 55.11
13.03
31
20.3
18
7.37
8.9
69.9
62.7
68.82
93.82
44.5 65.37
-6.19
24.5
15.1
13.1
6 22.2
24.9
37.7
26.82
39.85
4.1 35.02
17.91
-2.93
2.9
1.14
6.12
8.4
28.6
40.4
30.37
35.19
16.4
38.6
18.5
9.15
6.1
7.35
7.18 18.9
10.8
65
18.93
2.68
29.1 18.16
27.72
17.93
13.3
13.64
8.87
6.1
-23.2
-10.6
-21.31 -34.29
-3.4 -21.63
25.13
5.78
9.7
8.65
7.94
6.2
12.5
59.9
19.61
10.65
12.4
10.8
3.77
17.43
15.3
15.25
5.73 15.9
-11.8
11.4
-8.32 -18.17
-3.32
-10.8 6.58779
7.4
7.78
7.14
3.53
7.5
32.9
74.8
39.19
35.46
29.13
40.4 6.42077
16.79 11.43
9.68
2.86 15.7
8.1
-7.3
5.79
13.04
1.88
11.4 5.89177
-7.03
-4.33
-2.66
3.81
3.2
11.6
0.56
9.94
2.75
22.28
11.7 24.2885
30.11 20.44
18.18
5.49
0.8
6.4
15.83
7.81
-7.82
21.26
9.2 18.3467
-1.25
1.92
3.58
5.09
4.1
2.1 -16.82
-0.77 -25.67
24.23
-4.58 -1.0029
13.9
8.96
9.44
5.12
8
20.3 -18.12
15.60
2.41
28.86 19.46 -25.303
13.05 10.61
8.58
5
2.8
27.3
61.57
29.92
57.05
16.62 21.81 19.6583
-8.66
-3.52
-0.76
4.55
7.9
-14
-22.04
-15.7
38.61
20.25
13.34
26.18
10.99
-41.62
28.17
8.54
-12.53
-27.56
-2.88
-7.43
57.65
26.12
32.05
29.39
38.9
-52.81
75.98
18.86
-19.18
VDMIX VEIEX
1.00
0.82
0.99
0.86
0.88
0.98
0.11
-0.08
-0.12
0.01
0.01
0.40
0.60
0.40
0.59
-0.08
-0.04
0.88
1.00
0.88
0.74
0.72
0.84
0.25
-0.22
-0.21
-0.05
-0.06
0.43
0.48
0.30
0.52
-0.16
-0.02
0.81
-15.61
-20.15
-15.08
40.34
20.84
15.57
26.64
15.52
-44.1
36.73
11.12
-14.56
-25.74
-26.34
-9.32
38.42
18.83
22.59
11.99
4.78
-34.36
21.18
15.77
-14
-8.18
-20.3
-17.95
38.7
20.86
9.26
33.42
13.82
-44.73
31.91
4.91
-11.6
-7.48 35.8308
-14.02 -15.249
-13.35 39.9297
41.9
29.82
19.77
16.36
17.96
20.5
27.37
-3.04
12.66
23.8
-41.74
-43.33
33.77
39.92
7.31
24.13
-14.58
-7.56
VGTSX VPACX VEURX VTRIX PCRIX
1.00
0.86
0.87
0.98
0.14
-0.11
-0.14
0.00
0.00
0.42
0.59
0.40
0.60
-0.09
-0.04
0.89
1.00
0.56
0.84
0.12
-0.15
-0.20
-0.13
-0.02
0.29
0.35
0.16
0.39
-0.12
0.06
0.84
1.00
0.85
0.16
0.02
-0.01
0.15
0.03
0.29
0.70
0.54
0.62
-0.04
-0.08
0.74
1.00
0.12
-0.14
-0.17
-0.04
0.03
0.41
0.55
0.36
0.58
-0.10
-0.05
0.88
1.00
-0.25
-0.22
-0.17
-0.15
0.00
0.06
-0.03
0.01
-0.29
0.46
0.19
19.72
4.31
16.67
2.68
7.12
6.61
1.74
9.24
22.52
-12.05
8.93
29.28
14.03
7.55
14.15
2.37
3.4
2.32
3.14
9.98
13.32
-1.69
7.35
9.8
VUSTX VFITX
1.00
0.92
0.81
0.00
-0.07
0.26
0.55
0.03
0.48
-0.22
-0.26
1.00
0.93
0.25
-0.08
0.30
0.61
0.07
0.73
-0.21
-0.31
11.39
8.43
8.26
3.97
4.24
2.4
4.27
6.92
5.05
5.93
6.42
7.56
5.8
4.8
3.99 7.61
1.51 16.61
0.82
8
1 8.27
2.77 2.59
4.55 0.43
4.65 11.59
1.97
-2.85
0.53
10.8
0.01
6.17
0.02 13.24
VBMFX VUSXX VIPSX
1.00
0.37
-0.01
0.51
0.78
0.32
0.78
-0.24
-0.20
1.00
0.02
0.14
0.19
0.15
0.77
-0.04
-0.06
1.00
0.22
0.19
0.28
0.03
-0.18
0.27
-12.53
-19.18
-14.56
-14.00
-11.60
EAFED
VDMIX
4.52%
15.27%
15.32%
18.03%
9.43%
7.14%
4.37%
2.61%
EM
VEIEX
8.22%
25.89%
18.98%
35.36%
23.24%
-1.58%
18.74%
12.15%
Total
Intl
VGTSX
5.09%
16.93%
15.87%
20.82%
11.84%
6.16%
5.85%
4.44%
Pacific
VPACX
12.92%
21.72%
14.91%
19.52%
7.28%
-3.93%
6.14%
1.56%
Europe
VEURX
4.06%
13.31%
15.81%
16.59%
11.76%
15.76%
3.67%
3.04%
-14.58
Intl
Value COMM
VTRIX PCRIX
5.45% 26.44%
18.71% 11.87%
17.90% -0.30%
22.87% 15.94%
11.44%
9.15%
7.00%
7.30%
8.35% 16.64%
3.71%
3.39%
8.95% 16.68% 10.17% 15.62% 8.48% 11.94%

22.25% 31.42% 23.75% 26.07% 18.19% 25.47%
7.06% 12.42%
8.17% 0.26% 14.29% 7.35%
1.08% 9.82%
2.29% -0.69% 1.99% 4.45%
8.96% 16.28% 10.14%
8.95%
0.00
9.91% 11.15%
29.28
9.80
7.56
0.02
13.24
LTGB 5 Yr T ITB
TBILL S-TIPS
VUSTX VFITX VBMFX VUSXX VIPSX
4.21% 5.54% 5.87% 5.86% 3.34%
1.42% 4.81% 5.76% 7.53% 8.31%
16.56% 15.48% 14.96% 10.00% 7.45%
10.36% 9.04% 8.59% 7.22% 11.93%
12.25% 9.68% 9.27% 4.28% 8.22%
6.81% 6.21% 6.35% 5.11% 5.29%
7.37% 5.86% 5.43% 2.01% 8.48%
5.46% 6.29% 5.71% 2.32% 5.07%
19.72% 3.55% 5.33% 5.74%

5.75% 12.29% 11.61% 11.49%
7.34% 8.15% 7.49% 7.53%
10.81% 7.42% 6.72% 6.06%
6.27% 4.99%
8.90% 10.58%
4.90% 6.89%
2.74% 6.60%
10.66%
5.36%
8.55%
7.92%
7.74%
7.48%
VG Intl
Windsor ST Trsry GOLD
Small
VFSVX
VWELX
VWINX
VWNDX VFISX
GLD
0.4
0.5
0.3
0.25
0.36
0.26
2004
1997
1972
1972
1972
1992
Wellington
10.66
-11.83
-17.73
25.18
23.36
-4.38
5.32
13.54
22.58
2.90
24.55
23.57
10.70
28.53
18.40
2.28
16.11
21.60
-2.81
23.65
7.93
13.52
-0.49
32.92
16.19
23.23
12.06
4.41
10.40
4.19
-6.90
20.75
11.17
6.82
14.97
8.34
-22.30
22.20
10.94
3.85
Wellesley
9.48
-3.49
-6.43
17.46
23.28
4.27
3.61
6.20
11.88
8.67
23.30
18.60
16.64
27.41
18.34
-1.92
13.61
20.93
3.76
21.57
8.67
14.65
-4.44
28.91
9.42
20.19
11.84
-4.14
16.17
7.39
4.64
9.66
7.57
3.48
11.28
5.61
-9.84
16.02
10.65
9.63
9.80
-25.00
-16.80
54.50
46.40
1.00
8.80
22.60
22.60
16.80
21.70
30.10
19.47
28.03
20.27
1.23
28.70
15.02
-15.50
28.55
16.50
19.37
-0.15
30.15
26.36
21.97
0.81
11.57
15.89
5.72
-22.25
37.01
13.38
4.99
19.35
-3.30
-41.10
34.69
14.82
-4.00
3.63
5.82
8.82
7.62
8.62
3.43
5.23
10.11
13.80
18.59
19.19
8.32
12.51
12.91
11.61
5.73
5.63
8.42
8.62
10.41
6.47
6.41
-0.58
12.11
4.39
6.39
7.36
1.85
8.83
7.80
8.02
2.38
1.03
1.77
3.77
7.89
6.68
1.44
2.64
2.26
48.66
71.24
72.02
-27.62
-4.48
22.15
36.47
125.65
14.73
-32.87
14.49
-16.64
-19.52
5.26
20.82
21.72
-15.59
-3.23
-1.86
-10.43
-6.12
17.21
-2.56
0.58
-4.97
-21.72
-1.22
0.45
-5.82
0.44
24.96
19.12
4.48
17.76
21.95
30.57
4.96
23.99
29.27
9.57
63.43
-14.12
-28.98
49.11
10.91
73.21
64.71
-1.27
34.79
-0.40
-0.46
35.44
11.06
66.67
58.75
39.97
25.31
30.12
-18.35
5.30
-20.98
33.72
15.33
2.15
3.88
-14.56
25.98
90.29
-2.68
-22.52
-13.88
57.37
31.77
20.49
30.34
5.15
-46.62
47.12
24.97
-4.00
VWELX
VWINX
VWNDX
VFISX
GLD
VFSVX
10.76
12.49
10.03
155.89
10.36
9.28
9.98
86.10
13.00
19.31
11.19
372.87
7.20
4.45
7.11
19.78
12.10
29.44
8.90
866.46
19.21
31.48
15.01
991.04
0.92
0.71
0.85
0.08
-0.22
0.53
0.60
0.40
0.59
-0.08
-0.04
0.88
0.43
0.53
0.39
0.40
0.23
0.44
$45.69
$45.69
$45.69
$45.69
$45.69
$45.69
$44.89
$44.89
$44.89
$44.89
$44.89
$44.89
$69.63
$69.63
$69.63
$69.63
$69.63
$69.63
$15.60
$15.60
$15.60
$15.60
$15.60
$15.60
$30.30
$30.30
$30.30
$30.30
$30.30
$30.30
$268.94
$268.94
$268.94
$268.94
$268.94
$268.94
VG Intl
Wellington
VWELX
10.99
-11.83
-17.73
25.18
23.36
-4.38
5.32
13.54
22.58
2.9
24.55
23.57
10.7
28.53
18.4
2.28
16.11
21.6
-2.81
23.65
7.93
13.52
-0.49
32.92
16.19
23.23
12.06
4.41
Small
Wellesley
VWINX
VWNDX VFISX
GLD
VFSVX
9.75
10.2
3.9
49.25
64.25
-3.49
-25
6.1
71.92
-13.69
-6.43
-16.8
9.1
72.71
-28.63
17.46
54.5
7.9
-27.33
49.86
23.28
46.4
8.9
-4.10
11.46
4.27
1
3.7
22.64
74.08
3.61
8.8
5.5
37.01
65.53
6.2
22.6
10.4
126.55
-0.78
11.88
22.6
14.1
15.19
35.46
8.67
16.8
18.9
-32.60
0.10
23.3
21.7
19.5
14.94
0.04
18.6
30.1
8.6
-16.31
36.12
16.64
19.47
12.8
-19.19
11.62
27.41
28.03
13.2
5.68
67.50
18.34
20.27
11.9
21.31
59.54
-1.92
1.23
6
22.21
40.67
13.61
28.7
5.9
-15.26
25.94
20.93
15.02
8.7
-2.84
30.77
3.76
-15.5
8.9
-1.47
-17.94
21.57
28.55
10.7
-10.07
5.83
8.67
16.5
6.75
-5.75
-20.58
14.65
19.37
6.41
17.68
34.39
-4.44
-0.15
-0.58
-2.17
15.91
28.91
30.15
12.11
0.98
2.66
9.42
26.36
4.39
-4.59
4.40
20.19
21.97
6.39
-21.41
-14.13
11.84
0.81
7.36
-0.83
25.98
-4.14
11.57
1.85
0.85
90.29
0.00
0.00
0.00
10.4
4.19
-6.9
20.75
11.17
6.82
14.97
8.34
-22.3
22.2
10.94
3.85
VWELX
1.00
0.89
0.89
0.26
-0.31
0.39
16.17
7.39
4.64
9.66
7.57
3.48
11.28
5.61
-9.84
16.02
10.65
9.63
VWINX
15.89
5.72
-22.25
37.01
13.38
4.99
19.35
-3.3
-41.1
34.69
14.82
-4
VWNDX
1.00
0.75
0.45
-0.38
0.18
1.00
0.16
-0.32
0.45
8.83
7.8
8.02
2.38
1.03
1.77
3.77
7.89
6.68
1.44
2.64
2.26
VFISX
1.00
-0.13
-0.25
-5.44
0.84
25.46
19.60
4.90
17.76
21.95
30.57
4.96
23.99
29.27
9.57
GLD
-2.68
-22.52
-13.88
57.37
31.77
20.49
30.34
5.15
-46.62
47.12
24.97
-4
VFSVX
1.00
-0.02
1.00
3.85
Wellington
VWELX
0.12%
11.57%
17.64%
10.69%
14.91%
13.09%
6.82%
5.58%
9.63
-4.00
2.26
9.57
-4.00
VG Intl
Wellesley
Small
VWINX
VWNDX VFISX
GLD
VFSVX
3.81%
1.43%
6.46%
33.43%
10.42%
9.61%
19.31%
8.18%
32.75%
33.31%
18.75%
23.12%
14.23% -11.50%
19.98%
10.60%
8.78%
7.98%
3.35%
24.22%
13.29%
18.36%
6.87%
-0.69%
5.56%
10.37%
14.97%
5.74%
-7.01%
15.67%
6.52%
6.04%
4.16%
12.96%
10.76%
6.35%
1.01%
4.46%
21.78%
6.11%
4.46%
16.79%
12.55%
6.15%
6.40%
15.47%
10.56%
6.96%
9.64%
20.11%
13.03%
3.59%
6.63%
11.58%
6.28%
4.92%
35.54%
-2.86%
-3.51%
13.63%
21.16%
28.36%
8.58%
5.73%
10.03%
9.98%
11.19%
7.11%
8.90%
15.01%
0
0
0
0
0
0
Inflation
CPI-U
-
3.41
8.71
12.34
6.94
4.86
6.70
9.02
13.29
12.52
8.92
3.83
3.79
3.95
3.80
1.10
4.43
4.42
4.65
6.11
3.06
2.90
2.75
2.67
2.54
3.32
1.70
1.61
2.68
3.39
1.55
2.38
1.88
3.26
3.42
2.54
4.08
0.09
2.72
1.50
2.96
CPI-U
0.00
0.00
0.00
0.00
0.00
0.00
4.39
3.15
4.35
9.90
-0.08
-0.09
-0.32
$5.49
$5.49
$5.49
$5.49
$5.49
$5.49
Inflation
CPI-U
3.41
8.71
12.34
6.94
4.86
6.70
9.02
13.29
12.52
8.92
3.83
3.79
3.95
3.80
1.10
4.43
4.42
4.65
6.11
3.06
2.90
2.75
2.67
2.54
3.32
1.70
1.61
2.68
3.39
1.55
2.38
1.88
3.26
3.42
2.54
4.08
0.09
2.72
1.5
2.96
0
0
0
0
0
0
0
0
0
0
0 Inflation
0 CPI-U
7.80%
9.23%
4.84%
4.13%
2.79%
2.54%
2.49%
#VALUE!
8.11%
5.10%
2.93%
#VALUE!
#VALUE!
YEAR
2011
MKT-TSM LCV
500 Idx LCG
MCB
SCV
SCB
SCG
D10
VTSMX
VIVAX
VFINX VIGRX
VIMSX VISVX
NAESX VISGX BRSIX
ER
0.19
0.21
0.18
0.22
0.22
0.23
0.23
0.23
0.67
YOI
1993
1993
1977
1992
1999
1999
1992
1999
1999
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
31.95
15.88
1.51
17.78
28.66
-6.18
34.44
9.59
10.41
-0.17
35.79
20.96
30.99
23.26
23.81
-10.57
-10.97
-20.96
31.35
12.52
5.98
15.51
5.49
-37.04
28.70
17.09
0.96
VTSMX
Average
StDEV
CAGR
Variance
Correlation w/
US Mkt
Correlation w/
Intl Mkt
Sharpe Ratio
31.22
19.75
0.29
22.94
24.94
-8.29
24.34
13.56
18.10
-0.73
36.94
21.86
29.77
14.64
12.57
6.08
-11.88
-20.91
32.25
15.29
7.09
22.15
0.09
-35.97
19.58
14.28
1.00
VIVAX
31.23
18.06
4.71
16.22
31.36
-3.32
30.22
7.42
9.89
1.18
37.45
22.88
33.19
28.62
21.07
-9.06
-12.02
-22.15
28.50
10.74
4.77
15.64
5.39
-37.02
26.49
14.91
1.97
VFINX
32.61
15.15
5.07
11.06
35.60
-0.52
40.89
4.77
1.53
2.89
38.06
23.74
36.34
42.21
28.76
-22.21
-12.93
-23.68
25.92
7.20
5.09
9.01
12.56
-38.32
36.29
16.96
1.71
VIGRX
31.71
17.94
-0.02
19.54
26.02
-11.69
41.19
16.14
14.05
-2.31
34.10
18.74
28.72
9.86
15.07
18.10
-0.50
-14.61
34.14
20.35
13.93
13.60
6.02
-41.82
40.22
25.46
-2.11
VIMSX
30.70
7.15
-7.31
29.20
12.14
-21.98
41.37
28.80
23.52
-1.73
25.51
21.12
31.50
-6.71
3.11
21.88
13.70
-14.20
37.19
23.55
6.07
19.24
-7.07
-32.05
30.34
24.82
-4.16
VISVX
30.80
5.46
-9.01
24.61
15.93
-19.68
45.76
17.93
18.70
-0.51
28.74
18.12
24.59
-2.61
23.13
-2.67
3.10
-20.02
45.63
19.90
7.36
15.64
1.16
-36.07
36.12
27.72
-2.80
NAESX
30.70
3.36
-10.71
20.12
19.92
-17.59
50.85
7.55
13.14
-2.62
30.70
11.04
12.64
0.97
19.53
1.59
-0.78
-15.41
42.88
16.06
8.64
11.94
9.63
-40.00
41.85
30.69
-1.58
VISGX
24.86
-0.37
-15.47
20.00
4.80
-31.76
47.31
32.71
24.57
-3.55
29.23
16.02
20.69
-2.46
30.61
0.67
23.98
4.90
79.43
20.12
4.08
11.48
-5.40
-39.49
25.95
24.86
-7.86
BRSIX
11.73
18.10
10.13
327.55
11.52
17.01
10.09
289.18
11.79
18.00
10.20
324.06
12.44
21.00
10.33
441.00
13.77
18.38
12.09
337.73
12.43
19.06
10.72
363.13
11.74
19.83
9.89
393.40
10.93
19.93
9.07
397.15
12.59
23.87
10.05
570.01
1.00
0.95
0.99
0.96
0.90
0.72
0.88
0.87
0.67
0.67
0.69
0.67
0.59
0.61
0.45
0.58
0.57
0.42
0.42
0.43
0.42
0.39
0.52
0.43
0.38
0.34
0.35
$1 Portfolio =
$13.54
Best =
85P - 1$
85P1 - 1$
85P2 - 1$
85P3 - 1$
85P4 - 1$
85P5 - 1$
85Lazy - 1$
VEIEX
YEAR
2011
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
$13.54
$13.54
$13.54
$13.54
$13.54
$13.54
$13.54
$13.40
$13.40
$13.40
$13.40
$13.40
$13.40
$13.40
$13.78
$13.78
$13.78
$13.78
$13.78
$13.78
$13.78
$14.22
$14.22
$14.22
$14.22
$14.22
$14.22
$14.22
$21.78
$21.78
$21.78
$21.78
$21.78
$21.78
$21.78
$15.65
$15.65
$15.65
$15.65
$15.65
$15.65
$15.65
$12.77
$12.77
$12.77
$12.77
$12.77
$12.77
$12.77
$10.42
$10.42
$10.42
$10.42
$10.42
$10.42
$10.42
$13.27
$13.27
$13.27
$13.27
$13.27
$13.27
$13.27
MKT-TSM LCV
500 Idx LCG
MCB
SCV
SCB
SCG
D10
VTSMX
VIVAX
VFINX VIGRX
VIMSX VISVX
NAESX VISGX BRSIX
32.2
31.5
31.23
32.9
32
31
31.1
31
25.7
16.1
20
18.06
15.4
18.2
7.4
5.7
3.6
0.3
1.7
0.5
4.71
5.3
0.2
-7.1
-8.8
-10.5
-14.9
18
23.2
16.22
11.3
19.8
29.5
24.9
20.4
20.8
28.9
25.2
31.36
35.9
26.3
12.4
16.2
20.2
5.5
-6
-8.1
-3.32
-0.3
-11.5
-21.8
-19.5
-17.4
-31.3
34.7
24.6
30.22
41.2
41.5
41.7
46.1
51.2
48.3
9.8
13.8
7.42
5
16.4
29.1
18.2
7.8
33.6
10.62
18.35
9.89
1.53
14.3
23.8
18.7
13.4
25.4
-0.17
-0.73
1.18
2.89
-2.1
-1.5
-0.51
-2.4
-2.9
35.79
36.94
37.45
38.06
34.4
25.8
28.74
31
30.1
20.96
21.86
22.88
23.74
19
21.4
18.12
11.3
16.8
30.99
29.77
33.19
36.34
29
31.8
24.59
12.9
21.5
23.26
14.64
28.62
42.21
10.1
-6.5
-2.61
1.2
-1.81
23.81
12.57
21.07
28.76
15.32
3.35
23.13
19.8
31.49
-10.57
6.08
-9.06
-22.21
18.1
21.88
-2.67
1.59
0.67
-10.97
-11.88 -12.02
-12.93
-0.5
13.7
3.1
-0.78
23.98
-20.96
-20.91 -22.15
-23.68
-14.61
-14.2
-20.02
-15.41
4.9
31.35
32.25
28.5
25.92
34.14
37.19
45.63
42.88
79.43
12.52
15.29
10.74
7.2
20.35
23.55
19.9
16.06
20.12
5.98
7.09
4.77
5.09
13.93
6.07
7.36
8.64
4.08
15.51
22.15
15.64
9.01
13.6
19.24
15.64
11.94
11.48
5.49
0.09
5.39
12.56
6.02
-7.07
1.16
9.63
-5.4
-37.04
-35.97 -37.02
-38.32
-41.82
-32.05
-36.07
-40
-39.49
28.70
19.58
26.49
36.29
40.22
30.34
36.12
41.85
25.95
17.09
14.28
14.91
16.96
25.46
24.82
27.72
30.69
24.86
0.96
1
1.97
1.71
-2.11
-4.16
-2.8
-1.58
-7.86
Correlations between different assets

VTSMX
VIVAX
VFINX
VTSMX
1.00
VIVAX
0.95
1.00
VIGRX
VIMSX
VISVX
NAESX
VISGX
BRSIX
VFINX
VIGRX
VIMSX
VISVX
NAESX
VISGX
BRSIX
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
PCRIX
VUSTX
VFITX
VBMFX
VUSXX
VIPSX
VWELX
VWINX
VGENX
VGHCX
VGPMX
VWNDX
VWNFX
VWSTX
VWITX
VWLTX
VWEHX
VFISX
VMGIX
VMVIX
VEXMX
PIGLX
VFSTX
GLD
VFSVX
0.99
0.96
0.90
0.72
0.88
0.87
0.67
0.55
0.67
0.61
0.69
0.45
0.81
0.63
0.26
-0.04
-0.02
0.31
0.22
0.13
0.91
0.68
0.49
0.62
0.24
0.85
0.85
0.18
0.39
0.43
0.79
0.06
0.90
0.81
0.95
0.28
0.58
-0.17
0.59
0.94
0.83
0.92
0.82
0.87
0.83
0.68
0.68
0.69
0.57
0.69
0.44
0.83
0.66
0.29
0.06
0.05
0.36
0.25
0.13
0.95
0.76
0.58
0.69
0.23
0.92
0.92
0.19
0.47
0.53
0.81
0.10
0.77
0.89
0.89
0.23
0.57
-0.19
0.55
1.00
0.97
0.87
0.67
0.82
0.81
0.60
0.50
0.67
0.57
0.67
0.43
0.82
0.62
0.23
-0.01
0.01
0.33
0.28
0.10
0.90
0.69
0.47
0.65
0.21
0.82
0.85
0.21
0.40
0.43
0.75
0.10
0.87
0.78
0.91
0.26
0.59
-0.19
0.57
1.00
0.80
0.54
0.75
0.76
0.52
0.35
0.59
0.53
0.60
0.37
0.74
0.53
0.18
-0.07
-0.03
0.28
0.26
0.07
0.81
0.59
0.35
0.58
0.17
0.69
0.74
0.21
0.31
0.33
0.67
0.08
0.88
0.66
0.87
0.28
0.56
-0.17
0.53
1.00
0.89
0.93
0.94
0.76
0.76
0.61
0.62
0.64
0.40
0.72
0.60
0.44
-0.03
0.01
0.37
0.12
0.21
0.93
0.76
0.65
0.68
0.34
0.94
0.90
0.15
0.46
0.54
0.85
0.07
0.79
0.96
0.91
0.30
0.66
-0.12
0.53
1.00
0.92
0.86
0.85
0.87
0.45
0.49
0.48
0.24
0.55
0.45
0.30
-0.01
0.00
0.32
0.00
0.20
0.82
0.69
0.54
0.53
0.22
0.93
0.82
0.07
0.42
0.49
0.83
0.02
0.56
0.96
0.79
0.21
0.52
-0.23
0.33
1.00
0.97
0.89
0.76
0.58
0.66
0.61
0.41
0.66
0.56
0.34
-0.12
-0.11
0.23
-0.03
0.21
0.84
0.61
0.55
0.49
0.33
0.92
0.80
0.01
0.33
0.38
0.85
-0.08
0.82
0.91
0.96
0.28
0.50
-0.11
0.53
1.00
0.84
0.71
0.57
0.68
0.62
0.41
0.65
0.56
0.43
-0.08
-0.05
0.29
-0.03
0.23
0.84
0.64
0.58
0.55
0.39
0.88
0.78
0.04
0.36
0.42
0.84
-0.03
0.83
0.87
0.94
0.40
0.57
-0.01
0.54
1.00
0.72
0.42
0.52
0.45
0.32
0.46
0.41
0.31
-0.14
-0.11
0.14
-0.20
0.22
0.65
0.45
0.43
0.31
0.36
0.79
0.63
-0.10
0.23
0.28
0.76
-0.09
0.65
0.79
0.81
0.34
0.35
-0.06
0.42
YearEnd
0.96
1.97
1.71
-2.11
-4.16
-2.8
-1.58
-7.86
1985-1990
1991-1995
1996-2000
2000-2005
2006-2010
MKT-TSM LCV
VTSMX
VIVAX
14.10% 14.21%
17.14% 17.78%
16.68% 16.70%
1.97%
2.62%
2.94%
1.36%
500 Idx LCG

MCB
SCV
SCB
SCG
D10
VFINX VIGRX
VIMSX VISVX
NAESX VISGX BRSIX
15.66% 15.74% 12.86%
6.60%
6.47%
6.17%
-1.70%
16.41% 16.31% 19.63% 22.64% 21.18% 18.50%
24.87%
18.31% 19.17% 17.94% 13.30% 11.43%
8.93%
12.42%
0.42%
-1.17%
9.34% 11.89%
9.10%
8.62%
23.88%
2.21%
3.82%
4.27%
4.14%
5.39%
6.42%
0.07%
1985-1989
1990-1999
2000-2009
18.65%
17.47%
-0.27%
19.34% 19.89%
15.55% 18.08%
1.23% -1.03%
19.29%
20.66%
-2.75%
18.53%
15.38%
6.13%
13.47%
12.74%
7.69%
12.64%
13.99%
4.36%
11.69%
11.26%
4.84%
5.75%
13.96%
8.97%
1985-2011
10.13%
10.09% 10.20%
10.33%
12.09%
10.72%
9.89%
9.07%
10.05%
REIT
EAFED EM
Total Intl Pacific Europe Intl Value COMM LTGB 5 Yr T
ITB
VGSIX VDMIX VEIEX
VGTSX VPACX VEURX VTRIX
PCRIX VUSTX VFITX
VBMFX
0.21
0.27
0.42
0.29
0.27
0.27
0.46
0
0.26
0.26
0.2
1997
2001
1995
1997
1991
1991
1991
2003
1987
1992
1987
18.85
18.95
-3.80
13.26
8.57
-15.58
35.42
14.36
19.45
2.98
15.06
35.02
18.52
-16.32
-4.04
26.35
12.35
3.75
35.65
30.76
11.89
35.07
-16.46
-37.05
29.58
28.30
8.47
VGSIX
Maximum for the year

56.28
69.44
24.56
28.25
10.50
-23.41
12.20
-12.04
32.54
7.81
11.30
6.11
1.83
19.98
26.96
-14.23
-22.25
-15.70
38.61
20.25
13.34
26.18
10.99
-41.62
28.17
8.54
-12.53
VDMIX
60.23
62.02
37.12
39.81
64.31
-10.97
59.23
10.93
74.07
-7.69
0.14
15.83
-16.82
-18.12
61.57
-27.56
-2.88
-7.43
57.65
26.12
32.05
29.39
38.90
-52.81
75.98
18.86
-19.18
VEIEX
56.87
68.33
26.45
29.99
18.58
-21.54
19.26
-8.59
38.78
5.48
9.62
7.50
-1.06
15.60
29.92
-15.61
-20.15
-15.08
40.34
20.84
15.57
26.64
15.52
-44.10
36.73
11.12
-14.56
VGTSX
39.01
93.30
39.47
34.83
2.40
-34.47
10.35
-18.17
35.46
13.04
2.75
-7.82
-25.67
2.41
57.05
-25.74
-26.34
-9.32
38.42
18.83
22.59
11.99
4.78
-34.36
21.18
15.77
-14.00
VPACX
79.32
44.11
3.82
16.09
28.75
-3.66
12.10
-3.32
29.13
1.88
22.28
21.26
24.23
28.86
16.62
-8.18
-20.30
-17.95
38.70
20.86
9.26
33.42
13.82
-44.73
31.91
4.91
-11.60
VEURX
54.40
64.61
34.40
37.97
17.62
-21.99
10.29
-10.80
40.40
11.40
11.70
9.20
-4.58
19.46
21.81
-7.48
-14.02
-13.35
41.90
19.77
17.96
27.37
12.66
-41.74
33.77
7.31
-14.58
VTRIX
13.03
-6.19
17.91
18.50
27.72
25.13
3.77
6.59
6.42
5.89
24.29
18.35
-1.00
-25.30
19.66
35.83
-15.25
39.93
29.82
16.36
20.50
-3.04
23.80
-43.33
39.92
24.13
-7.56
PCRIX
30.66
24.18
-3.18
9.15
17.93
5.78
17.43
7.40
16.79
-7.03
30.11
-1.25
13.90
13.05
-8.66
19.72
4.31
16.67
2.68
7.12
6.61
1.74
9.24
22.52
-12.05
8.93
29.28
19.99
14.80
2.63
5.82
13.01
9.42
15.00
7.50
11.43
-4.33
20.44
1.92
8.96
10.61
-3.52
14.03
7.55
14.15
2.37
3.40
2.32
3.14
9.98
13.32
-1.69
7.35
9.80
VUSTX VFITX
17.76
12.87
0.94
7.35
13.64
8.65
15.25
7.14
9.68
-2.66
18.18
3.58
9.44
8.58
-0.76
11.39
8.43
8.26
3.97
4.24
2.40
4.27
6.92
5.05
5.93
6.42
7.56
VBMFX
12.20
18.57
10.52
345.00
11.56
24.60
8.81
605.19
22.25
35.45
16.70
1256.56
13.05
25.37
10.10
643.79
9.92
30.01
6.09
900.53
13.76
24.18
11.12
584.45
13.54
24.53
10.81
601.75
11.70
19.65
9.74
386.06
10.48
11.62
9.89
134.92
8.13
6.53
7.93
42.63
7.57
5.09
7.46
25.89
0.55
0.67
0.61
0.69
0.45
0.81
0.63
0.26
-0.04
-0.02
0.31
0.41
1.00
0.78
0.99
0.91
0.88
0.98
0.18
-0.05
-0.07
0.12
0.43
0.30
0.51
0.35
0.19
0.40
0.38
0.38
0.54
0.61
0.67
$14.89
$14.89
$14.89
$14.89
$14.89
$14.89
$14.89
$9.77
$9.77
$9.77
$9.77
$9.77
$9.77
$9.77
$64.66
$64.66
$64.66
$64.66
$64.66
$64.66
$64.66
$13.44
$13.44
$13.44
$13.44
$13.44
$13.44
$13.44
$4.93
$4.93
$4.93
$4.93
$4.93
$4.93
$4.93
$17.22
$17.22
$17.22
$17.22
$17.22
$17.22
$17.22
$15.96
$15.96
$15.96
$15.96
$15.96
$15.96
$15.96
$12.30
$12.30
$12.30
$12.30
$12.30
$12.30
$12.30
$12.75
$12.75
$12.75
$12.75
$12.75
$12.75
$12.75
$7.86
$7.86
$7.86
$7.86
$7.86
$7.86
$7.86
$6.97
$6.97
$6.97
$6.97
$6.97
$6.97
$6.97
REIT
EAFED EM
Total Intl Pacific Europe Intl Value COMM LTGB 5 Yr T
ITB
VGSIX VDMIX VEIEX
PCRIX VUSTX VFITX
VBMFX
19.1
56.7
60.9
57.33
39.39
79.8
55.11
13.03
31
20.3
18
19.2
69.9
62.7
68.82
93.82
44.5
65.37
-6.19
24.5
15.1
13.1
-3.6
24.9
37.7
26.82
39.85
4.1
35.02
17.91
-2.93
2.9
1.14
13.5
28.6
40.4
30.37
35.19
16.4
38.6
18.5
9.15
6.1
7.35
8.8
10.8
65
18.93
2.68
29.1
18.16
27.72
17.93
13.3
13.64
-15.4
-23.2
-10.6
-21.31
-34.29
-3.4
-21.63
25.13
5.78
9.7
8.65
35.7
12.5
59.9
19.61
10.65
12.4
10.8
3.77
17.43
15.3
15.25
14.6
-11.8
11.4
-8.32
-18.17
-3.32
-10.8 6.58779
7.4
7.78
7.14
19.7
32.9
74.8
39.19
35.46
29.13
40.4 6.42077
16.79
11.43
9.68
3.2
8.1
-7.3
5.79
13.04
1.88
11.4 5.89177
-7.03
-4.33
-2.66
15.3
11.6
0.56
9.94
2.75
22.28
11.7 24.2885
30.11
20.44
18.18
35.3
6.4
15.83
7.81
-7.82
21.26
9.2 18.3467
-1.25
1.92
3.58
18.77
2.1
-16.82
-0.77
-25.67
24.23
-4.58 -1.0029
13.9
8.96
9.44
-16.32
20.3
-18.12
15.60
2.41
28.86
19.46 -25.303
13.05
10.61
8.58
-4.04
27.3
61.57
29.92
57.05
16.62
21.81 19.6583
-8.66
-3.52
-0.76
26.35
-14
-27.56
-15.61
-25.74
-8.18
-7.48 35.8308
19.72
14.03
11.39
12.35 -22.04
-2.88
-20.15
-26.34
-20.3
-14.02 -15.249
4.31
7.55
8.43
3.75
-15.7
-7.43
-15.08
-9.32
-17.95
-13.35 39.9297
16.67
14.15
8.26
35.65
38.61
57.65
40.34
38.42
38.7
41.9
29.82
2.68
2.37
3.97
30.76
20.25
26.12
20.84
18.83
20.86
19.77
16.36
7.12
3.4
4.24
11.89
13.34
32.05
15.57
22.59
9.26
17.96
20.5
6.61
2.32
2.4
35.07
26.18
29.39
26.64
11.99
33.42
27.37
-3.04
1.74
3.14
4.27
-16.46
10.99
38.9
15.52
4.78
13.82
12.66
23.8
9.24
9.98
6.92
-37.05 -41.62
-52.81
-44.1
-34.36
-44.73
-41.74
-43.33
22.52
13.32
5.05
29.58
28.17
75.98
36.73
21.18
31.91
33.77
39.92 -12.05
-1.69
5.93
28.3
8.54
18.86
11.12
15.77
4.91
7.31
24.13
8.93
7.35
6.42
8.47 -12.53
-19.18
-14.56
-14
-11.6
-14.58
-7.56
29.28
9.8
7.56
VGSIX
VDMIX
VEIEX
VGTSX
VPACX
VEURX
VTRIX
PCRIX
VUSTX VFITX
VBMFX
1.00
0.41
0.44
0.44
0.26
0.46
0.42
0.38
-0.08
-0.10
0.17
-0.16
0.22
0.67
0.56
0.58
0.40
0.35
0.81
0.72
-0.10
0.34
0.43
0.73
-0.13
0.40
0.85
0.62
0.25
0.39
0.00
0.31
1.00
0.78
0.99
0.91
0.88
0.98
0.18
-0.05
-0.07
0.12
0.17
0.40
0.64
0.41
0.43
0.36
0.55
0.65
0.53
0.12
0.36
0.37
0.64
0.05
0.65
0.52
0.66
0.06
0.40
0.27
0.88
1.00
0.85
0.76
0.69
0.81
0.40
-0.23
-0.16
0.09
0.13
0.48
0.55
0.33
0.59
0.18
0.74
0.62
0.44
0.16
0.32
0.31
0.63
-0.01
0.73
0.51
0.70
0.20
0.48
0.31
0.78
1.00
0.91
0.88
0.98
0.24
-0.09
-0.09
0.13
0.17
0.43
0.65
0.42
0.48
0.35
0.61
0.67
0.54
0.14
0.37
0.38
0.67
0.05
0.69
0.55
0.69
0.10
0.44
0.29
0.89
1.00
0.63
0.90
0.16
-0.12
-0.18
-0.07
0.05
0.47
0.36
0.13
0.32
0.11
0.60
0.45
0.27
0.02
0.19
0.17
0.46
-0.06
0.57
0.29
0.51
-0.04
0.19
0.37
0.88
1.00
0.85
0.23
0.05
0.07
0.32
0.30
0.21
0.80
0.63
0.49
0.56
0.38
0.72
0.66
0.23
0.48
0.50
0.68
0.18
0.69
0.65
0.74
0.14
0.57
0.08
0.75
1.00
0.24
-0.10
-0.11
0.09
0.19
0.40
0.62
0.39
0.48
0.35
0.61
0.66
0.52
0.13
0.35
0.36
0.62
0.03
0.60
0.52
0.62
0.08
0.41
0.29
0.87
1.00
-0.26
-0.15
0.01
0.03
0.20
0.32
0.21
0.73
0.24
0.43
0.37
0.31
-0.06
0.12
0.22
0.26
-0.09
0.35
0.38
0.35
0.37
0.36
0.22
0.32
1.00
0.92
0.79
0.16
0.16
0.17
0.52
-0.21
0.33
-0.33
-0.10
0.07
0.44
0.64
0.60
0.12
0.68
-0.23
0.03
-0.14
0.15
0.24
-0.12
-0.28
1.00
0.90
0.33
0.16
0.22
0.59
-0.21
0.36
-0.25
-0.07
0.07
0.65
0.70
0.66
0.16
0.88
-0.20
0.05
-0.13
0.26
0.46
-0.11
-0.29
1.00
0.41
0.24
0.55
0.84
0.02
0.59
-0.12
0.28
0.40
0.74
0.87
0.85
0.45
0.86
0.09
0.39
0.20
0.37
0.76
-0.21
-0.11
8.47
-12.53
-19.18
-14.56
-14
-11.6
-14.58
-7.56
29.28
9.8
7.56
REIT
EAFED EM
Total Intl Pacific Europe Intl Value COMM
VGSIX VDMIX VEIEX
PCRIX
5.92% 23.69% 39.22% 26.19% 22.57% 25.26%
27.64% 15.45%
16.99% 9.43% 23.24% 11.84%
7.28% 11.76%
11.44%
9.15%
10.18% 7.14%
-1.58%
6.16% -3.93% 15.76%
7.00%
7.30%
18.26% 4.37% 18.74%
5.85%
6.14%
3.67%
8.35% 16.64%
3.38% 2.61% 12.15%
4.44%
1.56%
3.04%
3.71%
3.39%
10.83% 36.13%
9.05% 7.06%
10.40% 1.08%
52.24%
12.42%
9.82%
38.77%
8.17%
2.29%
38.92%
0.26%
-0.69%
32.02%
14.29%
1.99%
40.85%
7.35%
4.45%
10.52%
16.70%
10.10%
6.09%
11.12%
10.81%
8.81%
LTGB 5 Yr T
ITB
VUSTX VFITX
VBMFX
13.51%
10.80% 10.07%
12.25%
9.68%
9.27%
6.81%
6.21%
6.35%
7.37%
5.86%
5.43%
5.46%
6.29%
5.71%
13.60% 15.12%
7.34% 8.15%
10.81% 7.42%
9.74%
9.89%
11.07%
7.49%
6.72%
10.36%
7.53%
6.06%
7.93%
7.46%
Wellington
Wellesley
TBILL
TIPS
Energy Health P.Metals Windsor Windsor II
V ST TE
VUSXX VIPSX
VWELX
VWINX
VGENX VGHCX VGPMX
VWNDX VWNFX
VWSTX
0.24
0.2
0.3
0.25
0.25
0.25
0.35
0.36
0.34
0.16
1984
2001
1972
1972
1985
1985
1985
1972
1985
1985
7.37
6.00
6.12
7.18
8.87
7.94
5.73
3.53
2.86
3.81
5.49
5.09
5.12
5.00
4.55
5.80
3.99
1.51
0.82
1.00
2.77
4.55
4.65
1.97
0.53
0.01
0.02
VUSXX
8.68
21.96
8.18
18.66
5.89
5.99
15.67
7.29
15.47
2.99
0.60
3.89
7.78
2.59
7.68
4.59
7.40
16.61
8.00
8.27
2.59
0.43
11.59
-2.85
10.80
6.17
13.24
VIPSX
28.53
18.40
2.28
16.11
21.60
-2.81
23.65
7.93
13.52
-0.49
32.92
16.19
23.23
12.06
4.41
10.40
4.19
-6.90
20.75
11.17
6.82
14.97
8.34
-22.30
22.20
10.94
3.85
VWELX
27.41
18.34
-1.92
13.61
20.93
3.76
21.57
8.67
14.65
-4.44
28.91
9.42
20.19
11.84
-4.14
16.17
7.39
4.64
9.66
7.57
3.48
11.28
5.61
-9.84
16.02
10.65
9.63
VWINX
14.14
12.70
6.13
21.37
43.45
-1.37
0.28
6.10
26.52
-1.63
25.32
34.00
14.89
-20.53
20.98
36.43
-2.55
-0.62
33.80
36.65
44.60
19.66
37.00
-42.87
38.36
13.43
-1.74
45.40
21.42
-0.50
28.40
32.95
16.79
46.32
-1.57
11.81
9.54
45.17
21.36
28.57
40.80
7.05
60.53
-6.87
-11.36
26.58
9.51
15.41
10.87
4.42
-18.45
20.96
6.16
11.45
-5.36
49.88
38.73
-14.19
30.40
-19.86
4.37
-19.41
93.36
-5.42
-4.48
-0.75
-38.92
-3.91
28.82
-7.34
18.33
33.35
59.45
8.09
43.79
34.30
36.13
-56.02
76.46
37.45
-21.70
VGENX VGHCX VGPMX
28.03
20.27
1.23
28.70
15.02
-15.50
28.55
16.50
19.37
-0.15
30.15
26.36
21.97
0.81
11.57
15.89
5.72
-22.25
37.01
13.38
4.99
19.35
-3.30
-41.10
34.69
14.82
-4.00
VWNDX
10.74
21.41
-2.14
24.72
27.83
-9.98
28.70
11.99
13.60
-1.16
38.83
24.18
32.37
16.36
-5.81
16.86
-3.40
-16.86
30.08
18.31
7.01
18.25
2.23
-36.70
27.05
10.62
2.70
VWNFX
6.78
7.39
4.11
5.61
7.08
6.57
7.20
4.71
3.82
1.70
5.92
3.69
4.07
4.32
2.58
4.91
4.75
3.49
1.64
1.12
1.65
3.26
4.19
3.74
3.07
0.95
1.60
VWSTX
4.16
2.46
4.13
6.07
8.15
5.88
8.00
34.62
11.18
11.71
10.55
137.07
10.41
9.38
10.02
87.92
15.35
20.63
13.29
425.49
17.88
19.05
16.40
362.71
14.65
34.88
9.20
1216.29
11.41
18.11
9.74
327.82
11.40
17.05
9.98
290.62
4.07
1.94
4.05
3.74
0.22
0.13
0.91
0.68
0.49
0.62
0.24
0.85
0.85
0.18
0.17
0.40
0.64
0.41
0.43
0.36
0.55
0.65
0.53
0.12
0.00
0.68
0.60
0.67
0.54
0.72
0.30
0.40
0.42
-0.05
$2.98
$2.98
$2.98
$2.98
$2.98
$2.98
$2.98
$7.99
$7.99
$7.99
$7.99
$7.99
$7.99
$7.99
$15.00
$15.00
$15.00
$15.00
$15.00
$15.00
$15.00
$13.18
$13.18
$13.18
$13.18
$13.18
$13.18
$13.18
$29.05
$29.05
$29.05
$29.05
$29.05
$29.05
$29.05
$60.41
$60.41
$60.41
$60.41
$60.41
$60.41
$60.41
$10.76
$10.76
$10.76
$10.76
$10.76
$10.76
$10.76
$12.31
$12.31
$12.31
$12.31
$12.31
$12.31
$12.31
$13.05
$13.05
$13.05
$13.05
$13.05
$13.05
$13.05
$2.92
$2.92
$2.92
$2.92
$2.92
$2.92
$2.92
TBILL
TIPS
Wellington Wellesley Energy Health P.Metals Windsor Windsor II V ST TE
VUSXX VIPSX
VWELX
VWINX
VGENX VGHCX VGPMX
VWNDX VWNFX
VWSTX
7.37
8.9
28.53
27.41
14.43
45.76
-5.03
28.03
11.12
6.95
6
22.2
18.4
18.34
12.7
21.42
49.88
20.27
21.41
7.39
6.12
8.4
2.28
-1.92
6.13
-0.5
38.73
1.23
-2.14
4.11
7.18
18.9
16.11
13.61
21.37
28.4
-14.19
28.7
24.72
5.61
8.87
6.1
21.6
20.93
43.45
32.95
30.4
15.02
27.83
7.08
7.94
6.2
-2.81
3.76
-1.37
16.79
-19.86
-15.5
-9.98
6.57
5.73
15.9
23.65
21.57
0.28
46.32
4.37
28.55
28.7
7.2
3.53
7.5
7.93
8.67
6.1
-1.57
-19.41
16.5
11.99
4.71
2.86
15.7
13.52
14.65
26.52
11.81
93.36
19.37
13.6
3.82
3.81
3.2
-0.49
-4.44
-1.63
9.54
-5.42
-0.15
-1.16
1.7
5.49
0.8
32.92
28.91
25.32
45.17
-4.48
30.15
38.83
5.92
5.09
4.1
16.19
9.42
34
21.36
-0.75
26.36
24.18
3.69
5.12
8
23.23
20.19
14.89
28.57
-38.92
21.97
32.37
4.07
5
2.8
12.06
11.84 -20.53
40.8
-3.91
0.81
16.36
4.32
4.55
7.9
4.41
-4.14
20.98
7.05
28.82
11.57
-5.81
2.58
5.8
4.8
10.4
16.17
36.43
60.53
-7.34
15.89
16.86
4.91
3.99
7.61
4.19
7.39
-2.55
-6.87
18.33
5.72
-3.4
4.75
1.51 16.61
-6.9
4.64
-0.62
-11.36
33.35
-22.25
-16.86
3.49
0.82
8
20.75
9.66
33.8
26.58
59.45
37.01
30.08
1.64
1
8.27
11.17
7.57
36.65
9.51
8.09
13.38
18.31
1.12
2.77
2.59
6.82
3.48
44.6
15.41
43.79
4.99
7.01
1.65
4.55
0.43
14.97
11.28
19.66
10.87
34.3
19.35
18.25
3.26
4.65
11.59
8.34
5.61
37
4.42
36.13
-3.3
2.23
4.19
1.97
-2.85
-22.3
-9.84 -42.87
-18.45
-56.02
-41.1
-36.7
3.74
0.53
10.8
22.2
16.02
38.36
20.96
76.46
34.69
27.05
3.07
0.01
6.17
10.94
10.65
13.43
6.16
37.45
14.82
10.62
0.95
0.02 13.24
3.85
9.63
-1.74
11.45
-21.7
-4
2.7
1.6
VUSXX
VIPSX
VWELX
VWINX
VGENX VGHCX VGPMX
VWNDX
VWNFX
VWSTX
1.00
0.01
0.29
0.33
0.06
0.47
-0.24
0.14
0.20
0.82
0.34
0.29
0.00
0.62
0.10
0.06
0.04
-0.23
0.48
-0.49
0.10
1.00
0.19
0.26
0.13
0.02
0.35
0.23
0.16
0.26
0.52
0.48
0.49
0.20
0.17
0.20
0.19
0.27
0.36
0.14
0.24
1.00
0.89
0.58
0.74
0.25
0.91
0.93
0.33
0.62
0.68
0.84
0.28
0.70
0.91
0.84
0.32
0.75
-0.16
0.46
1.00
0.37
0.75
0.08
0.70
0.79
0.53
0.85
0.89
0.75
0.56
0.40
0.78
0.57
0.40
0.83
-0.20
0.17
1.00
0.35
0.53
0.63
0.61
-0.10
0.15
0.27
0.38
-0.17
0.49
0.62
0.54
0.12
0.32
0.16
0.46
1.00
-0.09
0.62
0.72
0.44
0.56
0.61
0.49
0.39
0.40
0.63
0.48
0.16
0.62
-0.41
0.27
1.00
0.34
0.21
-0.18
0.07
0.11
0.36
-0.19
0.38
0.25
0.36
0.32
0.23
0.70
0.60
1.00
0.90
0.15
0.46
0.52
0.85
0.03
0.70
0.95
0.86
0.20
0.60
-0.15
0.54
1.00
0.21
0.49
0.58
0.77
0.11
0.61
0.91
0.77
0.34
0.59
-0.23
0.34
1.00
0.69
0.61
0.21
0.88
0.03
0.12
0.03
0.05
0.70
-0.37
-0.05
0.02
13.24
3.85
9.63
-1.74
11.45
-21.7
-4
2.7
1.6
Wellington
Wellesley
TBILL
TIPS
VUSXX VIPSX
VWELX
VWINX
7.24% 11.38%
13.48%
13.24%
4.28%
8.22%
14.91%
13.29%
5.11%
5.29%
13.09%
10.37%
2.01%
8.48%
6.82%
6.52%
2.32%
5.07%
5.58%
6.35%
Energy
VGENX
15.26%
10.66%
15.09%
20.69%
8.01%
Health P.Metals Windsor Windsor II V ST TE

VGHCX VGPMX
VWNDX VWNFX
VWSTX
23.23%
9.93% 11.77%
11.18%
6.25%
20.69%
8.00% 18.36%
17.57%
4.65%
30.43%
-7.01% 14.97%
16.05%
3.91%
5.72%
31.35%
6.04%
5.75%
2.52%
3.93%
14.29%
1.01%
1.47%
3.04%
7.10%
4.90%
2.74%
12.50%
6.89%
6.60%
17.06%
12.55%
6.15%
15.23% 18.91% 24.56%

10.56% 9.25% 21.54%
6.96% 16.30%
9.24%
17.10%
-1.23%
17.79%
18.20%
13.03%
3.59%
15.97%
13.80%
4.16%
6.19%
4.45%
3.17%
4.13%
8.00%
10.55%
10.02% 13.29% 16.40%
9.20%
9.74%
9.98%
4.05%
Global
Bond
MidCap
MidCap Val V Ext Mkt
V Int TE V LT TE Hi-Yld C ST Treasury Growth
Fund
PIGLX
VWITX
VWLTX
VWEHX VFISX
VMGIX
VMVIX
VEXMX
0.17
0.16
0.17
0.26
0.26
0.26
0.25
0
1985
1985
1985
1992
2007
2007
1988
1987
17.13
16.21
1.64
10.00
10.00
7.20
12.16
8.85
11.55
-2.12
13.65
4.20
7.08
5.76
-0.50
9.24
5.05
7.91
4.46
3.23
2.24
4.43
3.43
-0.14
10.22
2.13
9.62
VWITX
20.58
19.38
-1.14
12.24
11.54
6.82
13.50
9.30
13.45
-5.75
18.72
4.41
9.29
6.02
-3.53
13.32
4.54
10.11
5.21
4.12
3.07
5.16
2.54
-4.87
14.08
1.50
10.69
VWLTX
21.78
16.86
2.65
13.55
1.89
-5.85
29.01
14.24
18.24
-1.71
19.15
9.54
11.91
5.62
2.55
-0.88
2.90
1.73
17.20
8.52
2.77
8.24
2.04
-21.29
20.13
12.40
7.13
VWEHX
12.91
11.61
5.73
5.63
8.42
8.62
10.41
6.47
6.41
-0.58
12.11
4.39
6.39
7.36
1.85
8.83
7.80
8.02
2.38
1.03
1.77
3.77
7.89
6.68
1.44
2.64
2.26
VFISX
31.66
17.30
2.53
12.61
31.16
-5.35
46.62
8.42
10.91
-2.45
33.65
18.62
20.29
16.96
70.09
-26.48
-20.64
-23.53
39.90
13.52
14.72
9.39
17.00
-47.07
42.54
28.93
-3.84
VMGIX
31.66
17.59
-2.45
24.28
22.38
-16.32
37.54
21.38
15.30
-2.35
34.55
21.15
36.72
1.26
1.93
22.15
8.51
-9.92
37.55
26.84
12.56
17.51
-4.62
-36.64
37.61
21.63
-0.44
VMVIX
31.27
12.30
-4.09
19.45
24.10
-14.05
41.85
12.47
14.49
-1.76
33.80
17.65
26.73
8.32
36.22
-15.55
-9.13
-18.06
43.43
18.71
10.29
14.27
4.33
-38.73
37.43
27.37
-3.73
VEXMX
ST Investment
Grade
VFSTX
0.21
1982
1.65
1.65
1.65
6.25
13.45
8.05
14.95
4.05
11.75
0.75
18.75
3.85
-0.90
12.50
-4.29
0.43
2.48
21.33
16.59
11.56
-6.36
5.85
9.26
-2.67
17.17
11.24
9.20
PIGLX
14.90
11.40
4.46
6.95
11.45
9.23
13.08
7.20
7.07
-0.08
12.74
4.79
6.95
6.57
3.30
8.17
8.14
5.22
4.20
2.11
2.20
4.99
5.86
-4.74
14.03
5.21
1.93
VFSTX
6.84
4.97
6.73
24.68
7.57
7.06
7.34
49.88
8.16
10.25
7.67
105.01
6.01
3.62
5.95
13.10
13.24
24.90
10.28
620.00
13.98
18.61
12.33
346.32
12.20
20.41
10.22
416.68
7.04
7.38
6.80
54.50
6.57
4.51
6.48
20.34
0.39
0.43
0.79
0.06
0.90
0.81
0.95
0.28
0.58
0.36
0.37
0.64
0.05
0.65
0.52
0.66
0.06
0.40
0.54
0.48
0.39
0.51
0.36
0.53
0.39
0.39
0.53
$5.80
$5.80
$5.80
$5.80
$5.80
$5.80
$5.80
$6.77
$6.77
$6.77
$6.77
$6.77
$6.77
$6.77
$7.35
$7.35
$7.35
$7.35
$7.35
$7.35
$7.35
$4.76
$4.76
$4.76
$4.76
$4.76
$4.76
$4.76
$14.05
$14.05
$14.05
$14.05
$14.05
$14.05
$14.05
$23.06
$23.06
$23.06
$23.06
$23.06
$23.06
$23.06
$13.83
$13.83
$13.83
$13.83
$13.83
$13.83
$13.83
$5.91
$5.91
$5.91
$5.91
$5.91
$5.91
$5.91
$5.44
$5.44
$5.44
$5.44
$5.44
$5.44
$5.44
V Int TE V LT TE Hi-Yld C
VWITX
VWLTX
VWEHX
17.33
20.77
21.99
16.21
19.38
16.86
1.64
-1.14
2.65
10
12.24
13.55
10
11.54
1.89
7.2
6.82
-5.85
12.16
13.5
29.01
8.85
9.3
14.24
11.55
13.45
18.24
-2.12
-5.75
-1.71
13.65
18.72
19.15
4.2
4.41
9.54
7.08
9.29
11.91
5.76
6.02
5.62
-0.5
-3.53
2.55
9.24
13.32
-0.88
5.05
4.54
2.9
7.91
10.11
1.73
4.46
5.21
17.2
3.23
4.12
8.52
2.24
3.07
2.77
4.43
5.16
8.24
3.43
2.54
2.04
-0.14
-4.87
-21.29
10.22
14.08
20.13
2.13
1.5
12.4
9.62
10.69
7.13
Global
ST
MidCap MidCap
Bond
Treasury Growth
Val
V Ext Mkt Fund
VFISX
VMGIX
VMVIX
VEXMX
PIGLX
13.2
32
32
31.60
1.65
11.9
17.6
17.9
12.58
1.65
6
2.8
-2.2
-3.85
1.65
5.9
12.9
24.6
19.75
6.25
8.7
31.5
22.7
24.1
13.45
8.9
-5.1
-16.1
-14.05
8.05
10.7
47
37.9
41.85
14.95
6.75
8.7
21.7
12.47
4.05
6.41
11.2
15.6
14.49
11.75
-0.58
-2.2
-2.1
-1.76
0.75
12.11
34
34.9
33.8
18.75
4.39
18.93
21.46
17.65
3.85
6.39
20.6
37.08
26.73
-0.9
7.36
17.26
1.52
8.32
12.5
1.85
70.53
2.2
36.22
-4.29
8.83
-26.29
22.47
-15.55
0.43
7.8
-20.43
8.79
-9.13
2.48
8.02
-23.33
-9.69
-18.06
21.33
2.38
40.26
37.91
43.43
16.59
1.03
13.82
27.17
18.71
11.56
1.77
15.02
12.85
10.29
-6.36
3.77
9.67
17.82
14.27
5.85
7.89
17.3
-4.37
4.33
9.26
6.68
-47.07
-36.64
-38.73
-2.67
1.44
42.54
37.61
37.43
17.17
2.64
28.93
21.63
27.37
11.24
2.26
-3.84
-0.44
-3.73
9.2
ST
Investment
Grade
VFSTX
14.90
11.40
4.46
6.95
11.45
9.23
13.08
7.20
7.07
-0.08
12.74
4.79
6.95
6.57
3.30
8.17
8.14
5.22
4.20
2.11
2.20
4.99
5.86
-4.74
14.03
5.21
1.93
VWITX
VFISX
VFSTX
VWLTX
VWEHX
VMGIX
VMVIX
VEXMX
PIGLX
1.00
0.98
0.64
0.70
0.18
0.50
0.30
0.35
0.81
-0.13
0.10
1.00
0.66
0.64
0.20
0.58
0.34
0.39
0.82
-0.11
0.11
1.00
0.19
0.67
0.85
0.81
0.41
0.67
0.00
0.43
1.00
-0.09
0.07
-0.07
0.13
0.63
-0.19
-0.15
1.00
0.62
0.94
0.21
0.45
0.00
0.72
1.00
0.83
0.28
0.61
-0.19
0.39
1.00
0.29
0.51
-0.06
0.64
1.00
0.38
0.25
0.00
1.00
-0.10
0.27
9.62
10.69
7.13
2.26
-3.84
-0.44
-3.73
9.2
1.93
V Int TE V LT TE Hi-Yld C
VWITX
VWLTX
VWEHX
10.24%
11.32%
8.05%
8.66%
9.51%
15.34%
5.10%
5.75%
5.65%
4.56%
5.38%
6.47%
3.96%
3.50%
3.26%
Global
ST
MidCap MidCap
Bond
Treasury Growth
Val
V Ext Mkt Fund
VFISX
VMGIX
VMVIX
VEXMX
PIGLX
8.78%
14.16%
11.51%
10.31%
5.36%
6.87%
18.11%
20.39%
19.14%
9.84%
5.74%
15.85%
15.87%
13.19%
2.16%
4.16%
2.03%
13.93%
6.93%
8.65%
4.46%
4.48%
3.52%
5.04%
7.97%
ST
Investment
Grade
VFSTX
9.68%
7.89%
5.94%
4.35%
4.90%
10.85%
6.67%
4.96%
12.24%
6.98%
5.59%
11.07%
9.82%
3.54%
8.82%
6.28%
4.92%
18.52%
19.97%
-2.39%
18.09%
13.72%
8.64%
15.95%
16.33%
1.72%
4.83%
6.71%
7.21%
9.77%
7.02%
4.92%
6.73%
7.34%
7.67%
5.95%
10.28%
12.33%
10.22%
6.80%
6.48%
VG Intl
Small
GOLD
VFSVX
GLD
0.4
0.5
2004
1997
5.26
20.82
21.72
-15.59
-3.23
-1.86
-10.43
-6.12
17.21
-2.56
0.58
-4.97
-21.72
-1.22
0.45
-5.82
0.44
24.96
19.12
4.48
17.76
21.95
30.56
4.96
23.99
29.27
9.57
GLD
66.67
58.75
39.97
25.31
30.12
-18.35
5.30
-20.98
33.72
15.33
2.15
3.88
-14.56
25.98
90.29
-2.68
-22.52
-13.88
57.37
31.77
20.49
30.34
5.15
-46.62
47.12
24.97
-20.28
VFSVX
6.65
14.23
5.73
202.52
16.85
31.88
12.48
1016.09
-0.17
0.59
0.27
0.88
0.18
0.40
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$4.50
$4.50
$4.50
$4.50
$4.50
$4.50
$4.50
$23.93
$23.93
$23.93
$23.93
$23.93
$23.93
$23.93
VG Intl
GOLD
Small
GLD
VFSVX
5.68
67.50
21.31
59.54
22.21
40.67
-15.26
25.94
-2.84
30.77
-1.47
-17.94
-10.07
5.83
-5.75
-20.58
17.68
34.39
-2.17
15.91
0.98
2.66
-4.59
4.40
-21.41
-14.13
-0.83
25.98
0.85
90.29
-5.44
-2.68
0.84
-22.52
25.46
-13.88
19.60
57.37
4.90
31.77
17.76
20.49
21.95
30.34
30.56
5.15
4.96
-46.62
23.99
47.12
29.27
24.97
9.57
-20.28
GLD
VFSVX
1.00
0.29
1.00
9.57
-20.28
GOLD
GLD
3.66%
-0.69%
-7.01%
12.96%
21.78%
VG Intl
Small
VFSVX
30.46%
5.56%
15.67%
10.76%
6.11%
4.81%
-3.51%
13.63%
43.28%
8.58%
5.73%
5.73%
12.48%
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Inflation
CPI-U
-
3.80
1.10
4.43
4.42
4.65
6.11
3.06
2.90
2.75
2.67
2.54
3.32
1.70
1.61
2.68
3.39
1.55
2.38
1.88
3.26
3.42
2.54
4.08
0.09
2.72
1.50
2.96
CPI-U
0.00
0.00
2.87
1.25
2.86
1.57
0.12
0.03
-1.03
$2.14
$2.14
$2.14
$2.14
$2.14
$2.14
$2.14
Inflation
CPI-U
3.80
1.10
4.43
4.42
4.65
6.11
3.06
2.90
2.75
2.67
2.54
3.32
1.70
1.61
2.68
3.39
1.55
2.38
1.88
3.26
3.42
2.54
4.08
0.09
2.72
1.5
2.96
0
0
0 Inflation
0 CPI-U
4.07%
2.79%
2.54%
2.49%
2.18%
3.67%
2.93%
2.52%
2.86%

Backtest Portfolio Returns Rev11a

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Backtest Portfolio Returns Rev11a

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This is a spreadsheet to backtest portfolio returns from 1972-2011 [1985-2011 if you want to includ

Things you can change: (Cells that can be changed have

1 - %allocation of funds in worksheet Portfolio

1. Enter Fund Name in cell AQ1 in Data_85_10

Past returns are not indicative of future returns.

5. Updated the source/returns for Gold

[1985-2011 if you want to include Sector/Tax-Exempt funds]

ides the CAGR/total/Sharpe Ratio etc. It also compares your portfolio to

on etc) for funds from 1972-2011

de many of the funds that were started in 1984)

100% then you would see an ERROR.

e risk/return for all the 25 lazy portfolios.

Windsor II funds from 1991-2000

on't change your Asset Allocation purely based on historical returns.

uture years/undefined funds/columns

The new formula uses (ActualReturn-Inflation)/(1+Inflation%)

mpare Portfolio section

riods instead of the fixed 1972-2008 or 1985-2008

ed for the entire period

being tested instead of the entire period

average for the entire 1972-2008 or 1985-2008 periods.

To calculate portfolio returns from 1972-2011, Enter fund allocations here

Total US Market - TSM

# of Years for backtest

Portfolio Growth - Nominal

Avg TBill Return (Nominal) =

Portfolio Growth (Nominal) 1972 - 2011

CHP Nominal (Rebalanced) = 529519.03

Portfolio Nominal (Unbalanced) = ERROR

Portfolio Nominal (Rebalanced) = ERROR

Portfolio Growth (Real) 1972 - 2011

Portfolio Real (Rebalanced) = 1028971.45

Portfolio Real (Unbalanced) = ERROR

Avg. Drawdown Rebalanced = 1.0%

Avg. Drawdown Unbalanced = 4.6%

Max. Drawdown Rebalanced = 23.2%

Rolling Returns (Nominal) 1972 - 2011

5-Year Rolling Returns

3-Year Rolling Returns

5-Year Rolling Returns

10-Year Rolling Returns

15-Year Rolling Returns

15-Year Rolling Returns

Rolling Returns (Real) 1972 - 2011

3-Year Rolling Returns [Real]

10-Year Rolling Returns

5-Year Rolling Returns

3-Year Rolling Returns

15-Year Rolling Returns [Real]

10-Year Rolling Returns

5-Year Rolling Returns

3-Year Rolling Returns

15-Year Rolling Returns

Total US Market - TSM

Avg TBill Return (Nominal) =

Portfolio Growth (Nominal) 1985 - 2011

Portfolio Nominal (Rebalanced) = 141055.71

Portfolio Nominal (Unbalanced) = 123711.93

Portfolio Growth (Real) 1985 - 2011

Portfolio Growth (Real) 1985 - 2011

Portfolio Real (Rebalanced) = 65817.12

CHP Real (Rebalanced) = 57447.12

-Year Rolling Returns

Avg. Drawdown Unbalanced = 5.9%