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William Bernstein Sheltered Sam 100/0 Allocation
0.02%June 04 | MyPlanIQ portfolio symbol P_78953

  • Portfolio Overview
  • Asset Allocation and ETFs
  • Performance
  • Calculators
  • Rolling Returns
  • Drawdowns

Portfolio Overview


1. Background and Philosophy

The William Bernstein Sheltered Sam portfolio is designed by Dr. William Bernstein, a renowned neurologist-turned-financial theorist and author of influential books like The Four Pillars of Investing. Bernstein advocates for passive investing, emphasizing broad diversification, low costs, and tax efficiency. The "Sheltered Sam" series targets tax-advantaged accounts (e.g., IRAs, 401(k)s) and comes in varying equity/bond allocations. This 100/0 version is aggressively equity-focused, suitable for investors with high risk tolerance and long time horizons.

2. Asset Allocation Analysis

The portfolio is heavily tilted toward equities, with the following breakdown:

  • U.S. Large-Cap Value (25%): VTV (Vanguard Value ETF)
  • U.S. Large-Cap Blend (20%): VV (Vanguard Large-Cap ETF)
  • U.S. Small-Cap Value (15%): IJS (iShares S&P Small-Cap 600 Value)
  • U.S. REITs (10%): VNQ (Vanguard Real Estate ETF)
  • International Developed Value (7%): EFV (iShares MSCI EAFE Value)
  • Emerging Markets (5%): EEM (iShares MSCI Emerging Markets)
  • U.S. Small-Cap Blend (5%): IJR (iShares S&P Small-Cap 600)
  • International Developed (5%): VGK (Vanguard FTSE Europe ETF)
  • International Asia/Pacific (5%): VPL (Vanguard FTSE Pacific ETF)
  • Commodities (3%): GLTR (Aberdeen Standard Physical Precious Metals Basket)

Key Characteristics:

  • Diversification: Covers U.S. and international equities, value and blend styles, small/large caps, REITs, and commodities.
  • Risk Level: High (100% equities). Volatility is expected, but long-term growth potential is significant.
  • Pros: Broad global exposure, value tilt (historically outperforms), low-cost ETFs.
  • Cons: No bonds for downside protection; commodities (GLTR) may underperform.

3. Practical Application in Retirement Accounts

For 401(k) Accounts:

Most 401(k) plans lack specific ETFs but offer comparable index funds. Here's how to adapt:

  • Match ETFs to 401(k) Funds:
    • VTV → Look for a U.S. Large-Cap Value Index Fund.
    • VV → Use a S&P 500 or Large-Cap Blend Index Fund.
    • IJS → Substitute with a Small-Cap Value Index Fund or general Small-Cap Fund.
  • Unavailable Holdings: Allocate to broader categories:
    • No VNQ? Use a Real Estate Fund or add to U.S. stocks.
    • No EFV? Choose a International Developed Markets Fund.
    • No GLTR? Shift the 3% to U.S. or International Stocks.

For IRA Accounts:

Investors can replicate the portfolio exactly by purchasing the listed ETFs, as IRAs offer wider investment choices.

Note: This portfolio is not suitable for conservative investors or those nearing retirement due to its 100% equity allocation.

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Asset Allocation


Symbol Category/Sector Target Weight
VTV
Vanguard Value ETF 		US Equity 25%
VV
Vanguard Large-Cap ETF 		US Equity 20%
IJS
iShares S&P Small-Cap 600 Value ETF 		US Equity 15%
VNQ
Vanguard Real Estate ETF 		Real Estate 10%
EFV
iShares MSCI EAFE Value ETF 		International Equity 7%
EEM
iShares MSCI Emerging Markets ETF 		International Equity 5%
IJR
iShares Core S&P Small Cap ETF 		US Equity 5%
VGK
Vanguard FTSE Europe ETF 		International Equity 5%
VPL
Vanguard FTSE Pacific ETF 		International Equity 5%
GLTR
abrdn Physical Precious Metals Basket Shares ETF 		Commodities 3%


Historical Performance


William Bernstein Sheltered Sam 100/0 Allocation Historical Returns

Name YTD Return 1Yr AR 3Yr AR 5Yr AR 10Yr AR 15Yr AR 20Yr AR Inception
William Bernstein Sheltered Sam 100/0 Allocation 3.16% 10.97% 8.58% 11.84% 8.77% NA NA 10.23%
VFINX (VANGUARD 500 INDEX FUND INVESTOR SHARES) 2.03% 14.20% 14.72% 15.60% 12.92% 14.19% 10.37% 14.34%
VSMGX (VANGUARD LIFESTRATEGY MODERATE GROWTH FUND INVESTOR SHARES) 5.23% 10.75% 8.37% 7.42% 6.31% 7.36% 6.07% 7.12%
Data as of 06/04/2025, AR inception is 10/25/2010

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William Bernstein Sheltered Sam 100/0 Allocation Historical Return Chart


Calculators


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Retirement Spending Calculator for William Bernstein Sheltered Sam 100/0 Allocation

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Rolling Returns


From 10/25/2010 to 06/04/2025, the worst annualized return of 3-year rolling returns for William Bernstein Sheltered Sam 100/0 Allocation is -1.12%.
From 10/25/2010 to 06/04/2025, the worst annualized return of 5-year rolling returns for William Bernstein Sheltered Sam 100/0 Allocation is 2.07%.
From 10/25/2010 to 06/04/2025, the worst annualized return of 10-year rolling returns for William Bernstein Sheltered Sam 100/0 Allocation is 7.06%.

Maximum Drawdown

William Bernstein Sheltered Sam 100/0 Allocation Maximum Drawdown