The All-Weather Portfolio is a diversified investment strategy designed to perform well in various economic conditions. It was developed by Ray Dalio, the founder of Bridgewater Associates, who sought to create a portfolio that could weather any economic environment. The portfolio aims to balance risk and return by allocating investments across multiple asset classes, ensuring consistent returns over the long term while minimizing volatility.
The All-Weather Portfolio typically includes a mix of stocks, bonds, commodities, and gold. A common asset allocation is 30% stocks, 40% long-term Treasury bonds, 15% intermediate-term Treasury bonds, 7.5% commodities, and 7.5% gold. The strategy operates on the principle of risk parity, balancing risk across different asset classes rather than maximizing returns from a single asset. The SPDR Bridgewater All Weather ETF (ALLW) implements Dalio's All Weather strategy through diversified exposure across global government bonds, equities, and commodities. As of February 11, 2026, the fund asset allocation reflects notional exposure to asset classes from derivatives that may exceed 100% of the fund market value. On February 12, 2026, information listed the SPDR Bridgewater All Weather ETF (ALLW). SPDR's All Weather ETF (ALLW) has an expense ratio of 0.85%. As of February 9, 2026, SPDR Bridgewater All Weather ETF shares closed 0.69% higher at $29.26, reaching a new 52-week high.
