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The All Asset No Authority Portfolio is a medium-risk portfolio of 7 equally-weighted assets. Here we'll look at its components, performance, and the best ETFs to use in its construction.

// TIMESTAMPS:

00:00 - Intro
00:11 - What Is the AANA Portfolio?
01:13 - Performance
01:42 - Review
04:04 - How To Build with ETFs
04:23 - Conclusion

// SUMMARY:

The All Asset No Authority Portfolio – or AANA for short – comes from Doug Ramsey, the Chief Investment Officer at Leuthold & Co., a fund management firm that has been around for nearly half a century. Ramsey named the portfolio based on the idea that agnostically equally weighting the assets takes away the authority of the investor who would mess things up by overfitting or chasing recent performance.

The All Asset No Authority Portfolio takes 7 assets and weights them equally at about 14.3% each:

U.S. Large Cap Stocks
U.S. Small Cap Stocks
Ex-US Developed Markets
Gold
Commodities
U.S. REITs
Intermediate Treasury Bonds

At first glance, the All Asset No Authority Portfolio is reminiscent of other well-diversified portfolios built for all economic environments like the All Weather Portfolio, Permanent Portfolio, Ivy Portfolio, and David Swensen Yale Model Portfolio. Like those, it aims to provide lower volatility and lower risk by utilizing assets that may do well during inflationary periods relative to traditional stocks and bonds.

The All Asset No Authority Portfolio seems to want to maximize diversification, but doesn't seem to do a great job at accomplishing that. In my opinion, it has many of the assets one would find in a retiree's well-diversified portfolio, but in allocations that wouldn't be appropriate for most retirees.

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Disclaimer: This is not financial advice, investing advice, or tax advice. The information presented is for informational, educational, and entertainment purposes only. Investment products discussed are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. I always attempt to ensure the accuracy of information presented but that accuracy cannot be guaranteed. Do your own due diligence. All investing involves risk, including the risk of losing the money you invest. Past performance does not guarantee future results. Opinions are my own and do not represent those of other parties mentioned. Read my lengthier disclaimer here: https://www.optimizedportfolio.com/te...

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