What is the Core Four portfolio really made of?

4 holdings. Together they swing like 1.3 separate bets. VNQ is 8% of the money and 10% of the risk.

Daily prices, 13 May 1996 to 6 Nov 2026. What happened, not a forecast.

Rick Ferri’s Core Four: US stocks, international stocks, real estate and bonds, at 48 / 24 / 8 / 20.

Measured on 2026-11-06

What it is made of

Company	Share of everything	Through
NVDA	3.1%	VTI 3.1%
AAPL	2.8%	VTI 2.8%
GOOGL	2.5%	VTI 2.5%
MSFT	1.8%	VTI 1.8%
AMZN	1.5%	VTI 1.5%
AVGO	1.2%	VTI 1.2%

This table names the companies behind 74% of the money. The rest is held too, in positions this measurement could not name.

Where the risk sits

Holding	Money	Risk	Ratio
VTI	48%	61%	1.27
VXUS	24%	28%	1.18
VNQ	8%	10%	1.30
BND	20%	0%	0.02

Since last week

Separate bets: 1.3 (a week earlier 1.3). Largest company: NVDA 3.1% (a week earlier NVDA 3.1%). Volatility over the whole window: 14.4% (a week earlier 14.4%).

The reading, in full

PORTFOLIO: Core Four
1996-05-13 to 2026-11-06 · 7,672 trading days · USD

4 holdings.
Together they swing like 1.3 separate bets.

VNQ: 8% of the money, 10% of the risk.
Volatility 14% · worst fall on record 49%.
Risk 13% → 11% over the last year, mostly because the holdings themselves got quieter.

Descriptive. No forecast, no advice. Every figure above is measured over the window named at the top.
folionomiq.com

What this does not say

Every figure is measured on past daily prices over the window below. It is not a forecast of returns or losses.
VTI before 2001-06-15 is measured on the daily moves of VTSMX, an older fund on the same index (CRSP US Total Market), from 1992-04-27. VXUS before 2011-01-28 is measured on the daily moves of VGTSX, an older fund on the same index (FTSE Global All Cap ex US), from 1996-04-29. VNQ before 2004-09-29 is measured on the daily moves of VGSIX, an older fund on the same index (MSCI US IMI Real Estate 25/50), from 1996-05-13. BND before 2007-04-10 is measured on the daily moves of VBMFX, an older fund on the same index (Bloomberg US Aggregate Float Adjusted), from 1990-01-02. Those years describe the older funds, not the younger ones' own records. Older crises may still lie outside the window.
These are model allocations as they are commonly described, not recommendations; the weights measured are the ones printed above.

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Measured 1996-05-13 to 2026-11-06 over 7,671 trading days, in USD, from Yahoo Finance prices. Descriptive: this page reports what these holdings have done and how their risk is built. It does not forecast returns or losses and it is not advice. How every figure is measured. Terms and privacy: /terms. If a figure looks wrong: [email protected].