The bands for this allocation
Two 7.5% sleeves make this the clearest illustration of why a flat 5 point band fails: those sleeves could nearly double before a flat band noticed.
| Sleeve | Target | Band | Binding rule | Rebalance outside |
|---|---|---|---|---|
| Total US stock market | 30% | 5 points | absolute | 25% to 35% |
| Long-term Treasuries | 40% | 5 points | absolute | 35% to 45% |
| Intermediate Treasuries | 15% | 3.75 points | relative | 11.25% to 18.75% |
| Gold | 7.5% | 1.88 points | relative | 5.63% to 9.38% |
| Broad commodities | 7.5% | 1.88 points | relative | 5.63% to 9.38% |
The tightest band belongs to Gold at 1.88 points, set by the relative threshold. 3 of 5 sleeves sit below the 20 percent crossover, so the 25 percent relative threshold governs them instead of the flat 5 point band.
What happens after a strong equity year
Holding the allocation untouched through a stylized year with equities up 30%, bonds down 10%, and real assets flat produces these weights. Nothing was bought or sold; the drift is purely market movement.
| Sleeve | Target | After the move | Status |
|---|---|---|---|
| Total US stock market | 30% | 37.68% | overweight by 7.68% |
| Long-term Treasuries | 40% | 34.78% | underweight by 5.22% |
| Intermediate Treasuries | 15% | 13.04% | in band |
| Gold | 7.5% | 7.25% | in band |
| Broad commodities | 7.5% | 7.25% | in band |
2 of 5 sleeves breach, so a 5/25 policy would trade. Returning every sleeve to target moves about 7.68% of the portfolio.
A breach is not a recommendation: it means an allocation left the range you chose. Transaction costs, spreads, capital gains, wash-sale rules, and new contributions all affect whether acting is worthwhile. These figures are illustrative and use reference weights, not your holdings.
Run your own weights
These are reference targets. Enter what you actually hold to see your own bands, which threshold governs each sleeve, and how much would have to trade.
Open the rebalancing band calculatorAll-Weather Portfolio band questions
What are the 5/25 rebalancing bands for an All-Weather Portfolio?
Each sleeve gets the tighter of a 5 percentage point band and a band worth 25 percent of its own target. Total US stock market at a 30% target trades outside 25% to 35%, Long-term Treasuries at a 40% target trades outside 35% to 45%, Intermediate Treasuries at a 15% target trades outside 11.25% to 18.75%, Gold at a 7.5% target trades outside 5.63% to 9.38%, Broad commodities at a 7.5% target trades outside 5.63% to 9.38%.
Which sleeve of an All-Weather Portfolio triggers first?
Gold has the tightest band at 1.88 points, governed by the relative threshold. 3 of 5 sleeves sit below the 20 percent crossover, so the relative threshold governs them rather than the flat 5 point band.
Would an All-Weather Portfolio need rebalancing after a stylized year with equities up 30%, bonds down 10%, and real assets flat?
Yes. After a stylized year with equities up 30%, bonds down 10%, and real assets flat, Total US stock market would be overweight by 7.68% and Long-term Treasuries would be underweight by 5.22%. Returning every sleeve to target moves about 7.68% of the portfolio.
Bands for other allocations
Drift is one dimension. Check portfolio concentration for what sits inside the sleeves, ETF overlap for funds holding the same companies, and the portfolio risk monitor for tracking all three across connected accounts.