Where the allocation comes from
The classic allocation of 60% stocks and 40% bonds has been the benchmark for balanced portfolios for decades. Here with global equities and eurozone government bonds.
Composition
| ETF | Asset class | Weight |
|---|---|---|
| iShares MSCI World UCITS ETF (Dist)IE00B0M62Q58 | Stocks | 60 % |
| Xtrackers II Eurozone Government Bond UCITS ETF 1CLU0290355717 | Bonds | 40 % |
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 | +8.11 % | +12.80 % | +5.55 % | +7.28 % | +6.81 % |
| Volatility | 7.60 % | 8.33 % | 9.14 % | 9.42 % | 10.56 % |
| Maximum drawdown | -4.84 % | -13.47 % | -16.00 % | -21.54 % | -26.85 % |
| Drawdown duration | 37 days | 165 days | 577 days | 577 days | 577 days |
| Sharpe ratio | 1.07 | 1.49 | 0.64 | 0.79 | 0.68 |
| Sortino ratio | 1.67 | 2.18 | 0.89 | 1.08 | 0.94 |
| Calmar ratio | 1.68 | 0.95 | 0.35 | 0.34 | 0.25 |
| Ulcer Index | 1.33 | 2.68 | 6.91 | 5.63 | 6.50 |
| CAGR after tax | +6.40 % | +10.53 % | +4.34 % | +6.07 % | +5.89 % |
Return by calendar year
Before tax, from the last price of the previous year to the last price of the year.
| Year | Return |
|---|---|
| 2025 | +4.90 % |
| 2024 | +15.91 % |
| 2023 | +14.63 % |
| 2022 | -15.67 % |
| 2021 | +17.99 % |
| 2020 | +4.79 % |
| 2019 | +21.14 % |
| 2018 | -2.80 % |
| 2017 | +4.44 % |
| 2016 | +7.64 % |
| 2015 | +6.93 % |
| 2014 | +17.25 % |
| 2013 | +13.59 % |
| 2012 | +11.77 % |
| 2011 | -0.74 % |
| 2010 | +11.77 % |
| 2009 | +16.99 % |
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