# Risk parity (all-weather): Rules and Paper Record

> Risk parity (all-weather): the rule, what it holds at the Nov 3, 2026 close, its signal and its paper record. A hypothetical ETF strategy.

Data as of Nov 3, 2026. Rebuilt every trading night.

Data as of Nov 3, 2026. Rebuilt every trading night.

## Risk parity (all-weather)

Hold five asset classes in proportion to the inverse of their recent swings, so each adds similar risk.

At the Nov 3, 2026 close Risk parity (all-weather) is risk on and holds IEF 38%, SPY 21%, TLT 20% and 2 more. Hypothetical back-test since 2010: +5.2% a year against AOR’s +7.6%, deepest fall −17.9%.

Hypothetical. No money is invested.

| Fund | Name | Weight |
| --- | --- | --- |
| IEF | iShares 7-10 Year Treasury Bond ETF | 37.5% |
| SPY | SPDR S&P 500 ETF Trust | 21.0% |
| TLT | iShares 20+ Year Treasury Bond ETF | 20.1% |
| DBC | Invesco DB Commodity Index Tracking Fund | 12.6% |
| GLD | SPDR Gold Shares | 8.8% |

### The rule

- Hold five asset classes in proportion to the inverse of their recent swings, so each adds similar risk.

- A rule reads the close of the last trading day of the month and trades at the next close.

- The universe is 5 funds; the benchmark is iShares Core 60/40 Balanced Allocation ETF (AOR).

- It is checked at each month end.

Source: Qian, E. (2011). Risk Parity and Diversification. Journal of Investing 20(1), 119-127.

Computed by ETFIQ from Tiingo daily prices. Data sourced by Tiingo .

### Where to next

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ Strategy Lab, Risk parity (all-weather), data as of Nov 3, 2026. https://etfiq.com/models/strategies/risk-parity/
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/models/strategies/risk-parity/