William Bernstein Portfolios: The Portfolio Giant
Learn to build William Bernstein portfolios with ETFs. How do they compare against other portfolios?
What is William Bernstein’s portfolio?
William Bernstein’s Portfolios can be built with 2-12 ETFs. They are exposed to between 0% and 100% equities. William Bernstein has built low-risk, medium-risk and high-risk portfolios.
For the past 10 years, the William Bernstein’s No Brainer Lazy Portfolio has returned 10.03 with a standard deviation of 12.48. The dividend yield is 1.85.
The 30-year return is 8.37%.
Year to date the William Bernstein’s No Brainer Lazy Portfolio Portfolio has returned -10.27%.
Article Contents
- How do you build Willam Bernstein’s portfolios with ETFs?
- What is the historical return of the William Bernstein portfolios?
- How does William Bernstein’s portfolios compare to the best portfolios?
- Who is William Bernstein?
- What is unique about the William Bernstein portfolios?
- Asset Allocation of the William Bernstein portfolios
- William Bernstein Cowards Portfolio
- William Bernstein Four Pillars High-Risk Portfolio
- William Bernstein Four Pillars Low-Risk Portfolio
- William Bernstein Four Pillars Medium Portfolio
- William Bernstein No Brainer Portfolio
- William Bernstein Sheltered Sam Portfolio
- William Bernstein Sheltered Sam 100% Stocks
- William Bernstein Sheltered Sam 90/10
- William Bernstein Sheltered Sam 80/20
- William Bernstein Sheltered Sam 70/30
- William Bernstein Sheltered Sam 60/40
- William Bernstein Sheltered Sam 50/50
- William Bernstein Sheltered Sam 40/60
- William Bernstein Sheltered Sam 30/70
- William Bernstein Sheltered Sam 20/80
- William Bernstein Sheltered Sam 10/90
- William Bernstein Sheltered Sam 100% Bonds
- William Bernstein Young Yvonne Portfolio
- William Bernstein Charlie Cringe Portfolio
- William Bernstein Wendy Wonk Portfolio
- William Bernstein Between Charlie and Wendy Portfolio
- William Bernstein The Small Investor Coward Portfolio (SICEI)
- William Bernstein The Academic Coward Portfolio (ACEI)
- William Bernstein The Rip Van Winkle Portfolio Taxable
- Resources for William Bernstein
- Suggestions for your next steps
- Related Questions
How do you build Willam Bernstein’s portfolios with ETFs?
Here is how you build William Bernstein portfolios with ETFs. This the ETFs you use for the No Brainer Lazy Portfolio.
- 25.00% US Large Cap (VV)
- 25.00% US Small Cap (VIOO)
- 25.00% International All-World ex-US (VEU)
- 25.00% Short Term Treasuries (VGSH)
This is just one of many portfolios made by William Bernstein. We cover 32 ETF portfolios by William Bernstein below.
What is the historical return of the William Bernstein portfolios?
| Name | Asset class count | Year to date | Return in 2020 | 10 year return | CAGR since 1989 (%) | Risk level | Expense ratio |
|---|---|---|---|---|---|---|---|
| William Bernstein No Brainer Portfolio | 4 | -10.27 | 10.98 | 10.03 | 8.37 | 2 | 0.07% |
| William Bernstein Cowards Portfolio | 9 | -7.35 | 6.67 | 8.23 | 8.23 | 2 | 0.07% |
| William Bernstein Four Pillars High Risk Portfolio | 11 | -7.93 | 6.7 | 8.44 | 8.39 | 2 | 0.11% |
| William Bernstein Four Pillars Medium Portfolio | 6 | -7.57 | 7.86 | 8.74 | 8.15 | 2 | 0.06% |
| William Bernstein Four Pillars Low Risk Portfolio | 4 | -8.1 | 9.76 | 7.74 | 7.5 | 1 | 0.05% |
| William Bernstein Sheltered Sam Portfolio | 12 | -5.92 | 5.9 | 8.14 | 8.39 | 2 | 0.09% |
| William Bernstein Taxable Ted 100% Stocks | 4 | -12.77 | 12.44 | 13.4 | 9.91 | 3 | 0.06% |
| William Bernstein Taxable Ted 90/10 | 5 | -12.23 | 11.78 | 12.39 | 9.58 | 3 | 0.06% |
| William Bernstein Taxable Ted 80/20 | 5 | -11.69 | 11.11 | 11.37 | 9.21 | 3 | 0.06% |
| William Bernstein Taxable Ted 70/30 | 5 | -11.15 | 10.45 | 10.34 | 8.82 | 2 | 0.06% |
| William Bernstein Taxable Ted 60/40 | 5 | -10.61 | 9.79 | 9.3 | 8.39 | 2 | 0.06% |
| William Bernstein Taxable Ted 50/50 | 5 | -10.07 | 9.12 | 8.25 | 7.94 | 2 | 0.06% |
| William Bernstein Taxable Ted 40/60 | 5 | -9.53 | 8.46 | 7.19 | 7.46 | 1 | 0.06% |
| William Bernstein Taxable Ted 30/70 | 5 | -8.99 | 7.8 | 6.11 | 6.96 | 1 | 0.06% |
| William Bernstein Taxable Ted 20/80 | 5 | -8.45 | 7.13 | 5.03 | 6.43 | 1 | 0.06% |
| William Bernstein Taxable Ted 10/90 | 5 | -7.91 | 6.47 | 3.93 | 5.87 | 1 | 0.06% |
| William Bernstein Taxable Ted 100% Bonds | 1 | -7.37 | 5.8 | 2.82 | 5.29 | 1 | 0.06% |
| William Bernstein Sheltered Sam 100% Stocks | 10 | -8.54 | 7.29 | 12.3 | 10.21 | 3 | 0.11% |
| William Bernstein Sheltered Sam 90/10 | 12 | -8.01 | 7.07 | 11.36 | 9.83 | 3 | 0.11% |
| William Bernstein Sheltered Sam 80/20 | 12 | -7.48 | 6.84 | 10.41 | 9.43 | 3 | 0.10% |
| William Bernstein Sheltered Sam 70/30 | 12 | -6.96 | 6.62 | 9.45 | 9.01 | 2 | 0.09% |
| William Bernstein Sheltered Sam 60/40 | 12 | -6.43 | 6.4 | 8.48 | 8.56 | 2 | 0.09% |
| William Bernstein Sheltered Sam 50/50 | 12 | -5.9 | 6.17 | 7.5 | 8.09 | 2 | 0.08% |
| William Bernstein Sheltered Sam 40/60 | 12 | -5.38 | 5.95 | 6.51 | 7.6 | 1 | 0.08% |
| William Bernstein Sheltered Sam 30/70 | 12 | -4.85 | 5.73 | 5.52 | 7.08 | 1 | 0.07% |
| William Bernstein Sheltered Sam 20/80 | 12 | -4.32 | 5.5 | 4.51 | 6.55 | 1 | 0.06% |
| William Bernstein Sheltered Sam 10/90 | 12 | -3.79 | 5.28 | 3.49 | 5.99 | 1 | 0.06% |
| William Bernstein Sheltered Sam 100% Bonds | 2 | -3.27 | 5.06 | 2.46 | 5.41 | 1 | 0.05% |
| William Bernstein Young Yvonne Portfolio | 11 | -8.96 | 7.46 | 8.65 | 8.77 | 2 | 0.08% |
| William Bernstein Charlie Cringe Portfolio | 4 | -8.13 | 9.62 | 7.83 | 7.49 | 1 | 0.05% |
| William Bernstein Wendy Wonk Portfolio | 11 | -7.93 | 6.7 | 8.44 | 8.39 | 2 | 0.11% |
| William Bernstein Between Charlie and Wendy Portfolio | 6 | -7.59 | 7.72 | 8.83 | 8.14 | 2 | 0.06% |
| The Rip Van Winkle Portfolio William Bernstein Taxable | 5 | -11.71 | 10.72 | 10.11 | 8.44 | 2 | 0.10% |
| William Bernstein The Small Investor Coward Portfolio (SICEI) | 8 | -12.31 | 11.31 | 11.16 | 8.95 | 3 | 0.12% |
| William Bernstein The Academic Coward Portfolio (ACEI) | 4 | -7.26 | 0.19 | 10.51 | 8.92 | 3 | 0.29% |
How does William Bernstein’s portfolios compare to the best portfolios?
Below you can see the returns of the best portfolios that we have benchmarked.
| Name | See Portfolio | Year to date | Return in 2020 | 10 year return | CAGR since 1989 (%) | Draw Down |
|---|---|---|---|---|---|---|
| Premium Portfolio |  | -12.97 | 18.29 | 16.52 | 11.28 | -37.63% |
| Premium Portfolio | | -12.98 | 18.11 | 11.03 | 11.21 | -44.87% |
| Premium Portfolio | | -13.6 | 19.7 | 14.99 | 10.85 | -32.77% |
| Premium Portfolio | | -8.98 | 3.19 | 11.85 | 10.99 | -36.46% |
| Premium Portfolio | | -9.17 | 3.66 | 11.87 | 10.88 | -36.35% |
| Premium Portfolio | | -14.04 | 21.03 | 16.29 | 11.25 | -37.00% |
| Premium Portfolio | | -9.45 | 8.7 | 14.47 | 11.14 | -35.26% |
| Premium Portfolio | | -11.1 | 7.48 | 11.45 | 10.93 | -37.91% |
| Premium Portfolio | | -9.97 | 5.36 | 13.2 | 11.81 | -35.43% |
| Premium Portfolio | | -8.76 | 3.42 | 13.15 | 10.99 | -40.85% |
Who is William Bernstein?
William Bernstein is a former doctor, an investment consultant, and an all-around good guy in the investing world. He has presented a host of portfolios throughout his career.
His book, The Four Pillars of Investing: Lessons for Building a Winning Portfolio, is required reading on investing. His investing philosophy is broad diversification, common sense, and a realistic expectation of future returns. Other books that come highly recommended are Rational Expectations: Asset Allocation for Investing Adults and The Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Risk.
William Bernstein is one of the first names you encounter when entering the investing world, especially the personal investing world. But his investing principles apply to institutional investing as well.
His book William Bernstein: The Four Pillars of Investing: Lessons for Building a Winning Portfolio, is one of the best books on investing you can read. It is on our concise list of the very best investing book ever written.
William Bernstein is also one of the very few good guys in investing. He has gone above and beyond in helping the everyday investor to get better returns through a robust investing framework.
What is unique about the William Bernstein portfolios?
The one thing that William Bernstein focuses on in his portfolios is diversification through many asset classes. He is a self-proclaimed asset class junkie.
Therefore his portfolios display extensive diversification.
In addition to this, William Bernstein is a 360-degree investor, so he takes into account a lot of factors. For example:
- Asset location (to minimize taxes)
- Specific asset class to reduce taxes like muni bonds
- Your age
- Your appetite for risk
- Your employer’s fund offerings if you are investing through a 401K.
All this makes Bernstein shine as a useful guide in all of your investment endeavors.
Finally, he is adamant about facing reality and being very aware of what you can expect in the returns of your portfolios.
William Bernstein’s most famous portfolios are the lazy portfolios. The two are the No-brainer portfolio and the Cowards’ portfolio. You can read more about those specific portfolios in our posts on Lazy Portfolios and 5 Reasons Why A Lazy Portfolio Is Right For You.
If you are interested in learning way more about William Bernstein and his investing philosophy, pick up one or two of his books. Apart from his book Four Pillars I very much recommend the following two:
Asset Allocation of the William Bernstein portfolios
Here is how you build all of William Bernstein’s portfolios.
William Bernstein Cowards Portfolio
- 10.00% US Large Cap Value (VTV)
- 15.00% US Large Cap (VV)
- 10.00% US Small Cap Value (VIOV)
- 5.00% US Small Cap (VIOO)
- 5.00% REITs (VNQ)
- 5.00% Emerging Markets (VWO)
- 5.00% Pacific Stocks (VPL)
- 5.00% European Stocks (VGK)
- 40.00% Short Term Treasuries (VGSH)
William Bernstein Four Pillars High-Risk Portfolio
- 10.00% US Large Cap Value (VTV)
- 10.00% US Large Cap (VV)
- 7.50% US Small Cap Value (VIOV)
- 5.00% US Small Cap (VIOO)
- 7.50% REITs (VNQ)
- 7.50% Emerging Markets (VWO)
- 7.50% Pacific Stocks (VPL)
- 10.00% European Stocks (VGK)
- 7.50% International Large Cap Value (EFV)
- 25.00% Short Term Treasuries (VGSH)
- 2.50% Precious Metals (GLTR)
Highlighted in the above pie chart
William Bernstein Four Pillars Low-Risk Portfolio
- 35.00% US Total Stock Market (VTI)
- 5.00% REITs (VNQ)
- 10.00% International All-World ex-US (VEU)
- 50.00% Short Term Treasuries (VGSH)
William Bernstein Four Pillars Medium Portfolio
- 25.00% US Total Stock Market (VTI)
- 10.00% US Large Cap Value (VTV)
- 10.00% US Small Cap Value (VIOV)
- 5.00% REITs (VNQ)
- 10.00% International All-World ex-US (VEU)
- 40.00% Short Term Treasuries (VGSH)
William Bernstein No Brainer Portfolio
- 25.00% US Large Cap (VV)
- 25.00% US Small Cap (VIOO)
- 25.00% International All-World ex-US (VEU)
- 25.00% Short Term Treasuries (VGSH)
The No-Brainer portfolio is part of the group of Lazy Portfolios.
William Bernstein Sheltered Sam Portfolio
- 15.00% US Large Cap Value (VTV)
- 12.00% US Large Cap (VV)
- 9.00% US Small Cap Value (VIOV)
- 3.00% US Small Cap (VIOO)
- 6.00% REITs (VNQ)
- 3.00% Emerging Markets (VWO)
- 3.00% Pacific Stocks (VPL)
- 3.00% European Stocks (VGK)
- 4.20% International Large Cap Value (EFV)
- 24.00% Short Term Treasuries (VGSH)
- 1.80% Precious Metals (GLTR)
- 16.00% TIPS (VTIP)
William Bernstein Sheltered Sam 100% Stocks
- 25.00% US Large Cap Value (VTV)
- 20.00% US Large Cap (VV)
- 15.00% US Small Cap Value (VIOV)
- 5.00% US Small Cap (VIOO)
- 10.00% REITs (VNQ)
- 5.00% Emerging Markets (VWO)
- 5.00% Pacific Stocks (VPL)
- 5.00% European Stocks (VGK)
- 7.00% International Large Cap Value (EFV)
- 3.00% Precious Metals (GLTR)
William Bernstein Sheltered Sam 90/10
- 22.50% US Large Cap Value (VTV)
- 18.00% US Large Cap (VV)
- 13.50% US Small Cap Value (VIOV)
- 4.50% US Small Cap (VIOO)
- 9.00% REITs (VNQ)
- 4.50% Emerging Markets (VWO)
- 4.50% Pacific Stocks (VPL)
- 4.50% European Stocks (VGK)
- 6.30% International Large Cap Value (EFV)
- 2.70% Precious Metals (GLTR)
- 6.00% Short-Term Investment-Grade (VCSH)
- 4.00% TIPS (VTIP)
William Bernstein Sheltered Sam 80/20
- 20.00% US Large Cap Value (VTV)
- 16.00% US Large Cap (VV)
- 12.00% US Small Cap Value (VIOV)
- 4.00% US Small Cap(VIOO)
- 8.00% REITs (Real Estate) (VNQ)
- 4.00% Emerging Markets (VWO)
- 4.00% Pacific Stocks (VPL)
- 4.00% European Stocks (VGK)
- 5.60% International Lg Cap Value (EFV)
- 2.40% Precious Metals (GLTR)
- 12.00% Short-Term Investment-Grade (VCSH)
- 8.00% TIPS (VTIP)
William Bernstein Sheltered Sam 70/30
- 17.50% US Large Cap Value (VTV)
- 14.00% US Large Cap (VV)
- 10.50% US Small Cap Value (VIOV)
- 3.50% US Small Cap (VIOO)
- 7.00% REITs (Real Estate) (VNQ)
- 3.50% Emerging Markets (VWO)
- 3.50% Pacific Stocks (VPL)
- 3.50% European Stocks (VGK)
- 4.90% International Large Cap Value (EFV)
- 2.10% Precious Metals (GLTR)
- 18.00% Short-Term Investment-Grade (VCSH)
- 12.00% TIPS (VTIP)
William Bernstein Sheltered Sam 60/40
- 15.00% US Large Cap Value (VTV)
- 12.00% US Large Cap (VV)
- 9.00% US Small Cap Value (VIOV)
- 3.00% US Small Cap (VIOO)
- 6.00% REITs (Real Estate) (VNQ)
- 3.00% Emerging Markets (VWO)
- 3.00% Pacific Stocks (VPL)
- 3.00% European Stocks (VGK)
- 4.20% International Large Cap Value (EFV)
- 1.80% Precious Metals (GLTR)
- 24.00% Short-Term Investment-Grade (VCSH)
- 16.00% TIPS (VTIP)
William Bernstein Sheltered Sam 50/50
- 12.50% US Large Cap Value (VTV)
- 10.00% US Large Cap (VV)
- 7.50% US Small Cap Value (VIOV)
- 2.50% US Small Cap (VIOO)
- 5.00% REITs (Real Estate) (VNQ)
- 2.50% Emerging Markets (VWO)
- 2.50% Pacific Stocks (VPL)
- 2.50% European Stocks (VGK)
- 3.50% International Large Cap Value (EFV)
- 1.50% Precious Metals (GLTR)
- 30.00% Short-Term Investment-Grade (VCSH)
- 20.00% TIPS (VTIP)
William Bernstein Sheltered Sam 40/60
- 10.00% US Large Cap Value (VTV)
- 8.00% US Large Cap (VV)
- 6.00% US Small Cap Value (VIOV)
- 2.00% US Small Cap (VIOO)
- 4.00% REITs (Real Estate) (VNQ)
- 2.00% Emerging Markets (VWO)
- 2.00% Pacific Stocks (VPL)
- 2.00% European Stocks (VGK)
- 2.80% International Large Cap Value (EFV)
- 1.20% Precious Metals (GLTR)
- 36.00% Short-Term Investment-Grade (VCSH)
- 24.00% TIPS (VTIP)
William Bernstein Sheltered Sam 30/70
- 7.50% US Large Cap Value (VTV)
- 6.00% US Large Cap (VV)
- 4.50% US Small Cap Value (VIOV)
- 1.50% US Small Cap (VIOO)
- 3.00% REITs (Real Estate) (VNQ)
- 1.50% Emerging Markets (VWO)
- 1.50% Pacific Stocks (VPL)
- 1.50% European Stocks (VGK)
- 2.10% International Large Cap Value (EFV)
- 0.90% Precious Metals (GLTR)
- 42.00% Short-Term Investment-Grade (VCSH)
- 28.00% TIPS (VTIP)
William Bernstein Sheltered Sam 20/80
- 5.00% US Large Cap Value (VTV)
- 4.00% US Large Cap (VV)
- 3.00% US Small Cap Value (VIOV)
- 1.00% US Small Cap (VIOO)
- 2.00% REITs (Real Estate) (VNQ)
- 1.00% Emerging Markets (VWO)
- 1.00% Pacific Stocks (VPL)
- 1.00% European Stocks (VGK)
- 1.40% International Large Cap Value (EFV)
- 0.60% Precious Metals (GLTR)
- 48.00% Short-Term Investment-Grade (VCSH)
- 32.00% TIPS (VTIP)
William Bernstein Sheltered Sam 10/90
- 2.50% US Large Cap Value (VTV)
- 2.00% US Large Cap (VV)
- 1.50% US Small Cap Value (VIOV)
- 0.50% US Small Cap (VIOO)
- 1.00% REITs (Real Estate) (VNQ)
- 0.50% Emerging Markets (VWO)
- 0.50% Pacific Stocks (VPL)
- 0.50% European Stocks (VGK)
- 0.70% International Large Cap Value (EFV)
- 0.30% Precious Metals (GLTR)
- 54.00% Short-Term Investment-Grade (VCSH)
- 36.00% TIPS (VTIP)
William Bernstein Sheltered Sam 100% Bonds
- 60.00% Short-Term Investment-Grade (VCSH)
- 40.00% TIPS (VTIP)
William Bernstein Young Yvonne Portfolio
- 15.00% US Large Cap Value (VTV)
- 12.00% US Large Cap (VV)
- 9.00% US Small Cap Value (VIOV)
- 3.00% US Small Cap (VIOO)
- 6.00% REITs (Real Estate) (VNQ)
- 3.00% Emerging Markets (VWO)
- 3.00% Pacific Stocks (VPL)
- 3.00% European Stocks (VGK)
- 4.20% International Large Cap Value (EFV)
- 40.00% Total US Bond Market (BND)
- 1.80% Precious Metals (GLTR)
William Bernstein Charlie Cringe Portfolio
- 35.00% US Total Stock Market (VTI)
- 5.00% REITs (Real Estate) (VNQ)
- 10.00% Int. Developed Blend (VEA)
- 50.00% Short Term Treasury (VGSH)
William Bernstein Wendy Wonk Portfolio
- 10.00% US Large Cap Value (VTV)
- 10.00% US Large Cap (VV)
- 7.50% US Small Cap Value (VIOV)
- 5.00% US Small Cap (VIOO)
- 7.50% REITs (Real Estate) (VNQ)
- 7.50% Emerging Markets (VWO)
- 7.50% Pacific Stocks (VPL)
- 10.00% European Stocks (VGK)
- 7.50% International Large Cap Value (EFV)
- 25.00% Short Term Treasury (VGSH)
- 2.50% Precious Metals (GLTR)
William Bernstein Between Charlie and Wendy Portfolio
- 25.00% US Total Stock Market (VTI)
- 10.00% US Large Cap Value (VTV)
- 10.00% US Small Cap Value (VIOV)
- 5.00% REITs (Real Estate) (VNQ)
- 10.00% Int. Developed Blend (VEA)
- 40.00% Short Term Treasury (VGSH)
William Bernstein The Small Investor Coward Portfolio (SICEI)
- 5.00% US Total Stock Market (VTI)
- 20.00% US Large cap Blend (VOO)
- 20.00% Small Cap Blend (VIOO)
- 8.00% Emerging Markets (VWO)
- 7.00% International Pacific Stocks (VPL)
- 15.00% International Europe (VGK)
- 12.50% International Value (EFV)
- 12.50% International Small Cap (VSS)
William Bernstein The Academic Coward Portfolio (ACEI)
- 25.00% Large Cap Value (VONV)
- 25.00% Small Cap Value (VIOV)
- 25.00% International Value (EFV)
- 25.00% International Small Cap Value (VSS)
William Bernstein The Rip Van Winkle Portfolio Taxable
- 30.00% US Large Cap Blend (VOO)
- 15.00% Small Cap Blend (VIOO)
- 15.00% International Developed Blend (VEA)
- 20.00% Intermediate Term Tax Exempt Munis (VTEB)
- 20.00% Long Term Tax Exempt Munis (PZA)
Resources for William Bernstein
His website The Efficient Frontier details Williams Bernstein’s many many books and a few other resources
His many books on Amazon. He has written on other topics other than investing. His book A Splendid Exchange is a fantastic inquiry on how trade enabled the modern world.
He has appeared on many financial and investing podcasts, use this search to find them all.
He is one of only three good guys in investing.
Suggestions for your next steps
Finding the correct portfolio is hard. Maintaining your portfolio is also daunting. If you are still in doubt about which portfolio to choose, we suggest you read our article How To Invest Money: 5 Simple Steps That Work For Anyone
If you have already committed to a portfolio – good for you! If you need help maintaining the portfolio you will find our rebalance worksheet useful.
Rebalancing your portfolio lowers your risk and may provide higher returns in the long run. It is completely FREE.
You can find the rebalance worksheet in our article Here Is The Most Easy To Use Portfolio Rebalance Tool.
Rebalancing lowers your portfolio risk and can increase your returns.
If you want access to our high-performing portfolios then you want to take a look at the premium portfolios. This is a paid product that gives you the 20 best-performing portfolios since 1989. The portfolios represent a great opportunity for you to get more money from your investment portfolios. We think it’s a “no-brainer”.
You stand to gain literally thousands more dollars EACH YEAR for the price of a few months of Netflix. (Haven’t you watched enough Netflix?).
Related Questions
What is the name of William Bernstein’s website?
William Bernstein’s website is the Efficient Frontier.
What is the best book by William Bernstein?
The best book is The Four Pillars of Investing: Lessons for Building a Winning Portfolio.
What is William Bernstein’s Coward Portfolio?
Here is the Coward Portfolio.
- 10.00% US Large Cap Value (VTV)
- 15.00% US Large Cap (VV)
- 10.00% US Small Cap Value (VIOV)
- 5.00% US Small Cap (VIOO)
- 5.00% REITs (VNQ)
- 5.00% Emerging Markets (VWO)
- 5.00% Pacific Stocks (VPL)
- 5.00% European Stocks (VGK)
- 40.00% Short Term Treasuries (VGSH)
