What ETFs are used in this backtest?

VOO 90%, BIL 10%, rebalanced annually.

Isn't 90% stocks risky?

It's an aggressive allocation with large potential drawdowns; the 10% cash gives a small buffer. The backtest shows the historical swings for your period.

How has the Buffett 90/10 performed?

Run the backtest above to see its return, volatility, and maximum drawdown over your chosen period.

Free portfolio backtest · 20+ years of data

Buffett 90/10 portfolio backtest

Aggressiveby Warren Buffett

See how $10,000 in the Buffett 90/10 portfolio would have grown — real, dividend-adjusted history, rebalanced yearly. No signup.

Warren Buffett's advice for the average investor: 90% low-cost S&P 500, 10% short-term Treasuries.

Allocation (locked)

VOO · Vanguard S&P 500 ETF90%
BIL · SPDR Bloomberg 1-3 Month T-Bill ETF10%

Want more than a famous preset? Log in to try our tool — test your own portfolio strategies and study your diversification with our correlation matrices.

Choose a famous portfolio

Start date

End date

Defaults to the last 10 years. Clean, fee-free backtest with annual rebalancing.

Ready to backtest Buffett 90/10

Pick a date range above (or use the last 10 years) and hit Run backtest.

About the Buffett 90/10 strategy

In a widely quoted letter, Warren Buffett described the allocation he suggested for his own estate: 90% in a low-cost S&P 500 index fund and 10% in short-term government bonds. It's a simple, aggressive, equity-dominant portfolio backed by one of the best-known investors.

This backtest uses VOO (90%) and BIL (10%), rebalanced annually. The small cash slice provides a modest buffer and something to draw from without selling stocks in a downturn, while the portfolio captures nearly the full growth of US large-caps.

It suits long-horizon investors comfortable with large equity swings in exchange for maximum exposure to stock market growth.

Unlock the full workspace

Go beyond the Buffett 90/10 preset

This public tool runs the famous presets read-only. Log in to unlock the full Awalyt backtesting workspace:

Test your OWN portfolio
Change the assets and weights, run different rebalancing strategies, and compare scenarios — not just the famous presets.
Correlation & diversification analysis
See how your holdings actually move together and whether they truly diversify your risk, quarter by quarter.
AI insights, rebalancing detail & more
Get an AI read on your results, a full rebalance history, tax impact, and save every backtest to your account.

Create a free account

Frequently asked questions

An allocation Warren Buffett described for his estate: 90% in a low-cost S&P 500 index fund and 10% in short-term government bonds.

For educational and informational purposes only. Backtests use split- and dividend-adjusted historical prices with annual rebalancing and no fees, taxes, or slippage; real-world results differ. Past performance is not indicative of future results. Awalyt does not provide investment advice.