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Ultra-Defensive Global Portfolio

An ultra-defensive all-weather portfolio designed for maximum capital preservation with minimal equity exposure. The allocation emphasizes global government bonds (82%) as the core anchor, complemented by a small equity allocation (12%) to MSCI World for long-term growth potential, and physical gold (6%) as an inflation hedge and safe haven asset. This conservative strategy targets risk-averse investors seeking stability, wealth preservation, and protection against market volatility, with annual rebalancing to maintain target allocations. The EUR-hedged government bonds provide predictable returns while minimizing currency risk.

Optimize
Annual Rebalancing
EUR
Low Risk
15.7yr backtest

Performance Summary

Total Return+51.29%
Annualized Return+2.67%
Volatility+4.14%
Sharpe Ratio0.16
Max Drawdown+15.87%

Holdings

Asset Allocation

Asset Class

Bonds 82.0%Equity 12.0%Precious Metals 6.0%
Holdings Details
Designed for maximum capital preservation, this ultra-defensive global portfolio uses 82% bonds, 12% equity, 6% gold, and annual rebalancing.
AssetTypeAllocationTER
DBZB.XETRA
Xtrackers II Global Government Bond UCITS ETF 1C EUR HedgedLU0378818131
ETF
82.0%0.25%
EUNL.XETRA
iShares Core MSCI World UCITS ETF USD (Acc)IE00B4L5Y983
ETF
12.0%0.2%
XAD1.XETRA
Xtrackers Physical Gold EUR Hedged ETCDE000A1EK0G3
ETF
6.0%0.59%
Total100.0%0.26%

Performance

Portfolio Value Over Time
Starting with 10,000 investment → now worth €15,129.06
Histogram of Monthly Returns
The portfolio had a positive return during 116 of the 190 months (61%)
Monthly Returns Heatmap
Best month: +3.5% • Worst month: -3.7% • Best year: 2014 (+8.3%) • Worst year: 2022 (-14.1%)
YearJanFebMarAprMayJunJulAugSepOctNovDecTotal
2026+0.8%+1.7%-3.2%+1.9%--------+1.1%
2025+1.2%+0.7%-1.0%+0.9%-0.3%+0.5%+0.0%+0.5%+1.6%+1.4%+0.3%-0.2%+5.8%
2024-0.1%-0.4%+1.5%-1.7%+0.5%+1.3%+1.8%+0.9%+1.1%-0.9%+1.6%-1.4%+4.2%
2023+2.5%-1.8%+2.4%+0.3%-0.4%+0.0%-0.1%-0.5%-2.3%-0.5%+3.3%+3.1%+5.9%
2022-2.0%-0.8%-1.3%-2.9%-1.4%-2.2%+2.9%-3.1%-3.7%-0.2%+1.6%-2.0%-14.1%
2021-0.6%-1.9%+0.7%+0.3%+0.4%+0.7%+1.6%+0.1%-1.5%+0.7%+0.9%-0.2%+1.1%
2020+1.9%+0.1%-1.1%+1.9%+0.1%+0.4%+1.4%-0.5%+0.1%-0.5%+0.7%+0.6%+5.3%
2019+1.5%+0.3%+1.5%-0.0%+0.6%+2.0%+1.0%+2.4%-0.6%-0.4%-0.1%-0.1%+8.3%
2018-0.5%-0.4%+0.5%-0.3%+0.3%-0.1%-0.3%+0.2%-0.6%-0.6%+0.4%+0.2%-1.2%
2017-0.5%+1.4%-0.2%+0.4%+0.1%-0.7%+0.0%+0.8%-0.4%+0.4%+0.1%+0.1%+1.4%
2016+1.1%+1.6%+0.5%+0.1%+0.3%+2.6%+0.5%-0.6%-0.1%-1.4%-1.4%+0.4%+3.5%
2015+3.5%-0.3%+0.8%-1.1%-0.1%-1.6%+1.0%-1.1%+0.1%+1.4%+0.1%-0.8%+1.6%
2014+1.2%+1.1%-0.2%+0.4%+1.1%+0.7%+0.3%+1.5%-0.4%+0.4%+1.2%+0.6%+8.3%
2013-0.2%+0.7%+1.2%+0.4%-1.4%-1.8%+0.9%-0.3%+0.6%+1.0%-0.1%-0.6%+0.3%
2012+1.5%+0.5%+0.0%-0.1%+0.6%+0.2%+1.4%+0.2%+0.5%-0.4%+0.7%-0.3%+5.0%
2011-0.7%+0.5%-0.5%+1.2%+0.8%-0.5%+1.4%+1.6%+0.1%+0.3%+0.4%+0.6%+5.4%
2010-------0.1%+2.3%+0.1%+0.0%-0.2%+0.1%+2.2%
> +2%
0% to +2%
-2% to 0%
< -2%
Drawdown Analysis
Maximum drawdown: +15.87% • The longest drawdown period lasted for 4 years and 1 month and was between December 2021 and January 2026. It reached a trough of -15.9%.

Detailed Metrics

Returns
Total Return
+51.29%
Annualized Return
+2.67%
Avg Monthly Return
+0.23%
Risk
Volatility (Annual)
+4.14%
Max Drawdown
+15.87%
Positive Months
61%
Average Drawdown
-3.4%
Risk-Adjusted
Sharpe Ratio
0.16
Risk-free rate: 2.0%
Sortino Ratio
0.16
Downside risk adjusted
Return/Volatility
0.64
Calmar Ratio
0.17
Return/Max Drawdown
Ulcer Index
4.98
Drawdown depth & duration
Martin Ratio
0.00
Return/Ulcer Index
Backtest Configuration
Initial Investment
10,000
Final Value
15,129.06
Backtest Period
2010-07-26 to 2026-04-17
15.7 years
Rebalancing
annual
Base Currency
EUR