Fintegrity's Investment Results
60/40 Equity/Fixed Income Composite Report
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Download PDFComposite Description
The 60/40 Composite includes all discretionary, fee-paying portfolios with a target allocation of 60% equities and 40% fixed income as specified in the client’s investment policy statement. The composite seeks balanced growth and income through investment in U.S.-based common stocks and high-quality bonds. U.S.-based common stocks are predominantly selected for quality characteristics including financial strength, competitive position, and sustainable business models. This traditional balanced allocation targets moderate long-term appreciation with enhanced stability and income generation. Portfolios primarily invest in individual securities rather than pooled investment vehicles. The strategy does not currently and has not used exchange-traded derivatives (e.g., index options or futures), leverage or short positions.
Composite Creation Date: February 1, 2019
Material Risks: This composite maintains moderate volatility through balanced equity and fixed-income exposure. The 40% fixed-income allocation provides meaningful downside protection but does not eliminate loss potential during severe market declines. During the financial crisis of 2007–2009, this benchmark declined by approximately 35.8% before recovering. Concentrated positions in individual stocks increase security-specific risk. Interest rate risk materially affects portfolio value, with the substantial bond allocation declining when rates rise. Credit risk exists if bond issuers experience financial difficulty. Inflation risk may erode purchasing power if returns fail to exceed inflation rates. Suitable for investors with moderate risk tolerance seeking balance between growth and stability.
Benchmark Description
Custom Benchmark Name: 60/40 RSP/AGG
The benchmark for the 60/40 Composite is a custom benchmark that consists of 60% allocation to the Invesco S&P 500 Equal Weight ETF (RSP) and 40% allocation to the iShares Core U.S. Aggregate Bond ETF (AGG).
Components:
1. 60% Invesco S&P 500 Equal Weight ETF (RSP) – provides large-cap U.S. equity exposure with equal weighting
2. 40% iShares Core U.S. Aggregate Bond ETF (AGG) – provides broad U.S. investment-grade bond exposure
Rebalancing Process: The benchmark is calculated using each ETF’s daily total-return series and is rebalanced to the 60%/40% target weights on a daily basis. Daily blended benchmark returns are chain-linked to produce longer-period benchmark returns.
Calculation Methodology: Benchmark returns reflect the weighted combination of RSP and AGG total returns, including reinvested dividends and interest, net of each ETF’s internal expense ratio but before any advisory fees. Benchmark returns are based on the ETF’s last traded price as of the official closing market prices at the 4:00 p.m. Eastern Time close and are net of the ETF’s blended annual expense ratio of 0.132%.
Performance Results
| Year | Gross Return | Net Return | Benchmark | 3Yr SD | Bench 3Yr SD | Portfolios at Year End | Dispersion | Composite Assets | Firm Assets |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | 13.6% | 12.7% | 10.0% | 7.5% | 10.1% | 2 | N/A | $14,308,283 | $65,282,980 |
| 2024 | 12.2% | 11.3% | 8.2% | 11.4% | 13.6% | 3 | N/A | $14,031,326 | $50,933,776 |
| 2023 | 13.6% | 12.7% | 10.7% | 11.7% | 13.0% | 3 | N/A | $13,090,688 | $42,939,622 |
| 2022 | −6.1% | −7.0% | −11.7% | 14.5% | 14.8% | 3 | N/A | $11,486,617 | $32,128,070 |
| 2021 | 22.0% | 21.0% | 16.2% | – | – | 3 | N/A | $12,561,558 | $25,074,037 |
| 2020 | 9.3% | 8.4% | 12.5% | – | – | 2 | N/A | $6,701,340 | $12,624,118 |
| 2019 (partial) | 17.6% | 16.8% | 13.6% | – | – | 2 | N/A | $3,908,656 | $7,227,311 |
Compliance Statement
Fintegrity® LLC claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Fintegrity LLC has been independently verified for the periods January 22, 2019 through December 31, 2025. The verification report is available upon request.
A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis. Verification does not provide assurance on the accuracy of any specific performance report.