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

Stocks

Domestic

  • 15% Large Cap Blend ¹
  • 10% Large Cap Value ¹
  • 5% Small Cap Blend ¹
  • 10% Small Cap Value ¹

International

  • 5% Europe
  • 5% Pacific
  • 5% Emerging Markets

Bonds

  • 40% Short Term Bonds

Real Assets

  • 5% REITs ²

 

Notes

1) Countries other than the United States are modeled with local regional data instead of pure domestic data for these assets.  CAN uses USA funds, while GER & UK use EUR funds.

2) The data is based on USA REITs, but a broad global REIT fund is also a reasonably close alternative if no US fund is available.