Coward’s Portfolio

The Coward’s Portfolio — also known as the Smart Money Portfolio — is recommended by William Bernstein for investors looking to expand on simpler alternatives like his No-Brainer Portfolio and compete with institutional strategies but with drastically lower fees.

cowards-portfolio

Asset Allocation

  • 15% Large Cap Blend
  • 10% Large Cap Value
  • 5% Small Cap Blend
  • 10% Small Cap Value
  • 10% International¹
  • 5% Emerging Markets
  • 40% Short Term Bonds
  • 5% REITs

Notes

  1. Bernstein specifically recommends 5% Europe and 5% Pacific. Rather than divide the assets regionally, I used a broad developed international fund that includes both regions and helps the portfolio concept translate between countries. But be sure to read Bernstein’s explanation for why he invests the way he does.

Performance

Change the home country to translate the portfolio to local assets, currency, and inflation

Click on the asset acronyms for detailed information in each country