Where the allocation comes from
The simplest way to a global equity portfolio: one ETF on the MSCI World with companies from 23 developed countries. Emerging markets are not included.
Composition
| ETF | Asset class | Weight |
|---|---|---|
| iShares MSCI World UCITS ETF (Dist)IE00B0M62Q58 | Stocks | 100 % |
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 | +15.50 % | +19.76 % | +10.85 % | +12.33 % | +9.37 % |
| Volatility | 10.78 % | 13.06 % | 14.08 % | 15.02 % | 17.97 % |
| Maximum drawdown | -6.68 % | -21.67 % | -21.67 % | -33.63 % | -47.23 % |
| Drawdown duration | 62 days | 159 days | 495 days | 495 days | 1,071 days |
| Sharpe ratio | 1.40 | 1.45 | 0.80 | 0.85 | 0.59 |
| Sortino ratio | 2.17 | 2.07 | 1.12 | 1.17 | 0.82 |
| Calmar ratio | 2.32 | 0.91 | 0.50 | 0.37 | 0.20 |
| Ulcer Index | 1.80 | 4.27 | 6.13 | 6.23 | 11.19 |
| CAGR after tax | +12.94 % | +16.80 % | +9.34 % | +10.89 % | +8.42 % |
Return by calendar year
Before tax, from the last price of the previous year to the last price of the year.
| Year | Return |
|---|---|
| 2025 | +7.60 % |
| 2024 | +25.51 % |
| 2023 | +19.91 % |
| 2022 | -13.87 % |
| 2021 | +32.20 % |
| 2020 | +4.89 % |
| 2019 | +30.88 % |
| 2018 | -5.27 % |
| 2017 | +7.45 % |
| 2016 | +10.59 % |
| 2015 | +10.58 % |
| 2014 | +20.06 % |
| 2013 | +21.76 % |
| 2012 | +12.39 % |
| 2011 | -3.37 % |
| 2010 | +19.04 % |
| 2009 | +26.84 % |
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