Permanent Portfolio

Measured historical research · complete provider coverage

This is the returned result for the listed Permanent Portfolio proxy allocation and assumptions, not a forecast or recommendation. All expected sessions in this selected window were returned for all 4 instruments; this does not make the window representative of other periods.

Source and provider

Yahoo Finance chart API (yahoo) · data retrieved 2026-10-26

Source instruments

Yahoo Finance VTI history · 753 observations · USD | Yahoo Finance TLT history · 753 observations · USD | Yahoo Finance BIL history · 753 observations · USD | Yahoo Finance GLD history · 753 observations · USD

As of

2024-12-31 · latest returned market observation

Requested window

2022-01-03 — 2024-12-31 · explicit date range

Observed common window

2022-01-03 — 2024-12-31

Coverage

753 common observations from 753 best-covered instrument observations (100.0%); window coverage 100.0% of 753 expected sessions.

Price basis

Yahoo Finance chart API adjusted close where available, with raw-close fallback where adjusted data was unavailable. The public record does not independently identify which basis was used for each ticker.

Currency limit

Yahoo Finance reports USD for all four holdings. Values remain USD-denominated; no currency conversion is applied.

Missing data

Yahoo Finance session calendars for these holdings cover NYSEArca and NasdaqGM in America/New_York; all four returned the same 753 expected sessions. No forward filling is applied, and no missing observations were detected. Returned missing observations: 0.

Calculated result

Total return 10.09% · annualized return 3.27% · maximum drawdown -16.62%. Initial value 100,000 → ending value 110,089.38, in the same unconverted source-market units.

Inputs and assumptions

VTI 25.0% / TLT 25.0% / BIL 25.0% / GLD 25.0%; yearly rebalance; SPY is a data-only reference, with no benchmark comparison shown; initial value 100,000. Annual fee overlay 0 bps; separate expense deduction 0%; inflation adjustment 0%; contributions and withdrawals 0 / 0; cash allocation and yield 0% / 0%; rebalance trading cost 0 bps. No additional cost rates are sourced or assumed; zero does not mean the funds have no expenses.

All expected sessions in this selected window were returned for both instruments. This does not make the window representative of other periods. No relative benchmark-performance claim is made here. Historical observations do not predict future results.

How to read this profile

Harry Browne described the framework in the 1980s as a way to keep the portfolio understandable across different economic conditions. The example holdings here are educational and do not reproduce anyone’s portfolio.

Equal parts make the allocation design and rebalance trade-offs easy to inspect; the attached result measures only this proxy in the observed 2022–2024 window.