What is No-Brainer (Bernstein)?

Equal-weight 4-fund portfolio: 25% each to US large-cap, US small-cap, international, and bonds.

Who created the No-Brainer (Bernstein) strategy?

No-Brainer (Bernstein) was developed by William Bernstein. It is based on Bernstein, W. The Intelligent Asset Allocator (2000).

What is the historical return and maximum drawdown of No-Brainer (Bernstein)?

Backtested from 1987-12-31 to 2026-08-19, No-Brainer (Bernstein) returned 9.2% CAGR with a -45.6% maximum drawdown and a Sharpe ratio of 0.83. Past performance does not guarantee future results.

How often is No-Brainer (Bernstein) rebalanced?

No-Brainer (Bernstein) is rebalanced annual. BestFolio publishes the updated allocation signal each period.

Is No-Brainer (Bernstein) a fixed or tactical strategy?

No-Brainer (Bernstein) is a fixed-allocation (strategic) portfolio: it holds a set allocation and rebalances on schedule rather than rotating based on market signals.

No-Brainer (Bernstein)

Name: No-Brainer (Bernstein), Backtest Time Series
Creator: BestFolio
License: https://creativecommons.org/licenses/by-nc/4.0/

No-Brainer (Bernstein) is a fixed-allocation portfolio reviewed on a annual cadence. Its hypothetical backtest runs through 2026-08-19. BestFolio supplies the public rule or approach and backtest context; current signals, allocations, and paid interactive data remain restricted to Pro access. The recorded 2000-09-22 publication or construction boundary separates pre-publication simulation from later market observations under fixed rules; all returns remain hypothetical. Users review each scheduled signal and place any resulting trades in their own brokerage. BestFolio does not execute trades or provide personalized investment advice.

Cadence: Annual
Backtest data through: 2026-08-19
History boundary: The recorded 2000-09-22 publication or construction boundary separates pre-publication simulation from later market observations under fixed rules; all returns remain hypothetical.
Rule / approach: 1. Allocate 25% each to: VOO, VB, VEA, BND 2. Rebalance annually or when drift exceeds threshold
BestFolio supplies: the public rule or approach and backtest context; current signals, allocations, and paid interactive data remain restricted to Pro access
Customer action: Review each scheduled signal and place any required trades in your own brokerage; BestFolio does not execute orders.
Costs and exclusions: net of a modeled one-way transaction cost (10 bps, scaled up to 3x under stress); taxes, fund-expense drift, or market impact are not modeled
Freshness: The latest available backtest ends 2026-08-19. A run timestamp is not exposed here, so no stronger freshness claim is made.
Next expected action: First trading day of 2027 (annual); scheduled 2027-01-04 at 09:30 ET. Review the published signal before placing any trade.

No-Brainer (Bernstein) at a glance

No-Brainer (Bernstein) is a fixed-allocation portfolio by William Bernstein across US Large-Cap Equity, US Small-Cap Equity, International Developed Equity, US Bonds, rebalanced annual. Backtested 1987-12-31 to 2026-08-19 (38.5 years): 9.2% CAGR, 0.83 Sharpe, -45.6% max drawdown, 13.0% volatility.

Type: Fixed Allocation
Author: William Bernstein
Rebalancing: Annual
Risk: Moderate
Period: 1987-12-31 to 2026-08-19
CAGR: 9.2%
Sharpe: 0.83
Max Drawdown: -45.6%
Volatility: 13.0%

No-Brainer (Bernstein) — Fixed Allocation Portfolio

William Bernstein's No-Brainer portfolio: equal 25% each to US large-cap (VOO), US small-cap (VB), international developed (VEA), and US bonds (BND). The equal weighting reflects Bernstein's view that no one can predict which asset class will outperform, so equal allocation is most robust.

No-Brainer (Bernstein): frequently asked questions

What is No-Brainer (Bernstein)?: Equal-weight 4-fund portfolio: 25% each to US large-cap, US small-cap, international, and bonds.
Who created the No-Brainer (Bernstein) strategy?: No-Brainer (Bernstein) was developed by William Bernstein. It is based on Bernstein, W. The Intelligent Asset Allocator (2000).
What is the historical return and maximum drawdown of No-Brainer (Bernstein)?: Backtested from 1987-12-31 to 2026-08-19, No-Brainer (Bernstein) returned 9.2% CAGR with a -45.6% maximum drawdown and a Sharpe ratio of 0.83. Past performance does not guarantee future results.
How often is No-Brainer (Bernstein) rebalanced?: No-Brainer (Bernstein) is rebalanced annual. BestFolio publishes the updated allocation signal each period.
Is No-Brainer (Bernstein) a fixed or tactical strategy?: No-Brainer (Bernstein) is a fixed-allocation (strategic) portfolio: it holds a set allocation and rebalances on schedule rather than rotating based on market signals.

Backtest Performance (1987-12-31 to 2026-08-19)

Metric	No-Brainer (Bernstein)
CAGR	9.2%
Max Drawdown	-45.6%
Sharpe	0.83
Sortino	1.08
Volatility	13.0%
Calmar	0.20
Total Return	2867.7%
Backtest Period	38.5 years

Strategy Details

Type: Fixed / Strategic
Rebalancing: annual
Risk Level: moderate
Variants: 1
Author: William Bernstein
Source: Bernstein, W. The Intelligent Asset Allocator (2000)

Asset Classes

US Large-Cap Equity
US Small-Cap Equity
International Developed Equity
US Bonds

Track No-Brainer (Bernstein) in Your Portfolio

Sign up for BestFolio to get monthly rebalancing signals, blend strategies into custom portfolios, and receive alerts when allocations change.

Create free account View Pricing