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Model Portfolios

Different approaches to allocation, with their rules and results side by side. A look at how each behaved through the same markets.

Backtest comparison Jan 2002 – Jul 2026295 monthly returns · S&P 500 Stocks benchmark

Tactical momentum01

GEM Momentum

Antonacci GEM: S&P 500 absolute momentum gate, then S&P 500 vs international relative momentum, else aggregate bonds.

Next-period signal · July 31, 2026

100% International ex-U.S. stocks

Annualized return: 10.98%
Worst drawdown: −21.80%

Monthly rebalanceExplore

Core allocation02

Three-Fund 60/20/20

Bogleheads-style allocation: 60% total U.S. stock market, 20% international stocks, and 20% aggregate bonds, rebalanced monthly.

Target allocation

60% Total U.S. stock market · 20% International ex-U.S. stocks · 20% Aggregate bonds

Annualized return: 8.47%
Worst drawdown: −43.78%

Monthly rebalanceExplore

Defensive allocation03

Permanent Portfolio

Harry Browne-style allocation: 25% stocks, 25% long-term Treasuries, 25% gold, and 25% Treasury bills, rebalanced annually.

Target allocation

25% S&P 500 stocks · 25% Long-term U.S. Treasuries · 25% Gold · 25% Treasury bills

Annualized return: 7.42%
Worst drawdown: −15.14%

Annually rebalanceExplore

Research data through July 2026. These are hypothetical backtests with zero modeled trading costs, not live investment results. Each page explains its allocation rules and data assumptions.