Back To Targeted Retirement Funds As A Benchmark

In prior editions, I have reported a 60/40 base case portfolio, but remember that they were all USD-centric.

So 60% SPY & 40% AGG = -6.73%

Now look, a non-trivial difference. Note: I am “picking on” Blackrock here because it is, indisputably, the world’s largest asset manager. The idea that they are running around without a clue? Fat (zero) chance. Zero.

Scroll down on this page, and you get this. 15% Europe.

European stocks (blue line, ETF FEZ) have not done well, compared to SPY (pink).

Largely explains the -8.55% to the -6.73%.