The Only Guide You'll Ever Need for the Right Financial Plan: Managing Your Wealth, Risk, and Investments

by Larry E. Swedroe

At equity allocations below 80 percent, five-year Treasuries produced the most efficient portfolios, though long-term bonds produced the portfolios with the highest returns. At high equity allocations (80 percent or higher), the portfolio with long-term Treasuries produced the highest return and highest Sharpe ratio.