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.
- 15% Domestic Large Cap Blend ¹
- 10% Domestic Large Cap Value ¹
- 5% Domestic Small Cap Blend ¹
- 10% Domestic Small Cap Value ¹
- 5% Europe Total Stock Market
- 5% Pacific Total Stock Market
- 5% Emerging Markets TSM
- 40% Short Term
- 5% REITs ²
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.