Where the allocation comes from
Four fifths stocks, one fifth government bonds: an allocation for long investment horizons in which the bonds are meant to dampen volatility somewhat.
Composition
| ETF | Asset class | Weight |
|---|---|---|
| iShares MSCI World UCITS ETF (Dist)IE00B0M62Q58 | Stocks | 80 % |
| Xtrackers II Eurozone Government Bond UCITS ETF 1CLU0290355717 | Bonds | 20 % |
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 | +11.94 % | +16.33 % | +8.24 % | +9.82 % | +8.16 % |
| Volatility | 9.21 % | 10.64 % | 11.52 % | 12.11 % | 14.10 % |
| Maximum drawdown | -5.79 % | -17.49 % | -17.49 % | -27.64 % | -37.38 % |
| Drawdown duration | 63 days | 165 days | 520 days | 520 days | 755 days |
| Sharpe ratio | 1.28 | 1.48 | 0.75 | 0.83 | 0.63 |
| Sortino ratio | 1.99 | 2.13 | 1.04 | 1.15 | 0.87 |
| Calmar ratio | 2.06 | 0.93 | 0.47 | 0.36 | 0.22 |
| Ulcer Index | 1.56 | 3.43 | 6.31 | 5.76 | 8.55 |
| CAGR after tax | +9.62 % | +13.66 % | +6.84 % | +8.46 % | +7.19 % |
Return by calendar year
Before tax, from the last price of the previous year to the last price of the year.
| Year | Return |
|---|---|
| 2025 | +6.26 % |
| 2024 | +20.71 % |
| 2023 | +17.27 % |
| 2022 | -14.77 % |
| 2021 | +25.09 % |
| 2020 | +4.84 % |
| 2019 | +25.79 % |
| 2018 | -4.04 % |
| 2017 | +5.94 % |
| 2016 | +9.09 % |
| 2015 | +8.85 % |
| 2014 | +18.65 % |
| 2013 | +17.63 % |
| 2012 | +12.08 % |
| 2011 | -2.05 % |
| 2010 | +15.40 % |
| 2009 | +21.70 % |
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