Where the allocation comes from
The reverse of 60/40: more bonds than stocks. Such a portfolio usually fluctuates less, but depends more on interest rates and inflation.
Composition
| ETF | Asset class | Weight |
|---|---|---|
| iShares MSCI World UCITS ETF (Dist)IE00B0M62Q58 | Stocks | 40 % |
| Xtrackers II Eurozone Government Bond UCITS ETF 1CLU0290355717 | Bonds | 60 % |
Key figures by period
Rolling up to 30 Oct 2026: the most recent years in each case, the last column from the first common price of all ETFs on 2 Jan 2008. Before tax according to the standard of the Community-Backtests, below that the return after German tax.
| Key figure | 1 year | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|---|
| CAGR | +4.42 % | +9.30 % | +2.85 % | +4.70 % | +5.35 % |
| Volatility | 6.18 % | 6.32 % | 7.19 % | 7.11 % | 7.48 % |
| Maximum drawdown | -4.24 % | -9.42 % | -17.06 % | -17.06 % | -17.06 % |
| Drawdown duration | 56 days | 166 days | 729 days | 729 days | 729 days |
| Sharpe ratio | 0.73 | 1.44 | 0.43 | 0.68 | 0.73 |
| Sortino ratio | 1.14 | 2.15 | 0.60 | 0.93 | 1.02 |
| Calmar ratio | 1.04 | 0.99 | 0.17 | 0.28 | 0.31 |
| Ulcer Index | 1.25 | 1.98 | 7.93 | 5.94 | 5.21 |
| CAGR after tax | +3.28 % | +7.54 % | +1.93 % | +3.76 % | +4.54 % |
Return by calendar year
Before tax, from the last price of the previous year to the last price of the year.
| Year | Return |
|---|---|
| 2025 | +3.52 % |
| 2024 | +11.12 % |
| 2023 | +12.00 % |
| 2022 | -16.58 % |
| 2021 | +10.88 % |
| 2020 | +4.74 % |
| 2019 | +16.29 % |
| 2018 | -1.56 % |
| 2017 | +2.93 % |
| 2016 | +6.16 % |
| 2015 | +5.10 % |
| 2014 | +15.84 % |
| 2013 | +9.64 % |
| 2012 | +11.48 % |
| 2011 | +0.57 % |
| 2010 | +8.13 % |
| 2009 | +12.58 % |
Growth of €10,000
Month end by month end, before tax, with distributions reinvested.
How it is calculated
Building blocks: ETFs already available in every Watchlist — the same prices as in the Community-Backtests, updated every night, in euros. You can recalculate every allocation in the backtest with the same securities.
Before tax: starting value €10,000, without costs and taxes, distributions reinvested, back to the target allocation on the first trading day of every year. Risk-free rate for Sharpe and Sortino: 0 %.
After tax: the same calculation with €100,000 and German flat-rate tax of 26.38 % without church tax, partial exemption per ETF, saver's allowance of €1,000, advance lump sum and tax on gains when rebalancing; at the end of the period everything is sold. Gains on gold are taxed like capital gains — with Xetra-Gold they would be tax-free after one year, so the after-tax figure tends to be too low there.
All portfolios end on the last trading day of the previous month and are recalculated every month.
Descriptive, not a recommendation: this page shows how well-known allocations would have developed in the past. Which one suits you depends on your goals and your situation.
Calculated on 2 Nov 2026