fullscreen

eFinder

eFinder

Home › Article

How to update your 60/40 with a 'total portfolio approach' to navigate volatility

Cnbc · · 554 words · By Michelle Fox
headphones Listen to the eFinder podcast briefing
Generate a natural audio summary of this story
Daily briefing

What to know about How to update your 60/40 with a 'total portfolio approach' to navigate volatility

Investors may want to rethink how they are structuring their 60/40 portfolios.

Claims checked 3
Techniques found 0
Topics 0

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center75%
Right25%

4 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Investors may want to rethink how they are structuring their 60/40 portfolios.

Why it matters

The role of a traditional allocation of 60% stocks and 40% bonds has been the subject of debate in recent years, particularly after its dismal performance in 2022 when stocks and bonds saw their prices decline in tandem.

Common ground

While some still call the 60/40 a good place to start, others advocate for adding in more portfolio diversifiers .

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

open_in_new Read the original article: https://www.cnbc.com/2026/05/18/update-your-60/40-with-a-total-portfolio-approac…

fact_checkClaims Checked

eFinder analyzed this article and checked 3 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

check_circle Corroborated 3
check_circle
Claim 1: “its dismal performance in 2022 when stocks and bonds saw their prices decline in tandem”
CORROBORATED
Multiple independent web sources confirm that in 2022, both stocks and bonds experienced simultaneous price declines, noting that they 'declined together' and 'tumble in April 2022'.
travel_explore
web search NEUTRAL — The Bottom Line: Stocks and bonds experienced the worst month so far this year while the relative performance of sustainable equity and bond indices improve.Longer dated corporate bonds posted almost …
https://sustainableinvest.com/both-stocks-and-bonds-tumble-i…
travel_explore
web search NEUTRAL — For much of the past 40 years, that held true. But in 2022, stocks and bonds declined together — sharply, and without the cushion that a balanced allocation was designed to provide.
https://wm.calamos.com/newsinsights/investment-insights/the-…
travel_explore
web search NEUTRAL — The rationale is that stocks and bond prices are usually negatively correlated (when one goes up, the other goes down), so this mix will balance a portfolio’s risks and returns.
https://www.project-syndicate.org/commentary/inflation-will-…
check_circle
Claim 2: “Jason Kephart, senior principal of multi-asset manager research for Morningstar”
CORROBORATED
Three separate sources, including Morningstar's own author bio and Jason Kephart's LinkedIn profile, confirm his role as Senior Principal on the multi-asset manager research/strategy team at Morningstar.
travel_explore
web search NEUTRAL — Jason Kephart Oct 13, 2025. A Hall of Fame Manager Guides This Balanced Fund. David Giroux and team lead the way in delivering stellar results.He is responsible for Morningstar’s multi-asset ratings m…
https://www.morningstar.com/people/jason-kephart
travel_explore
web search NEUTRAL — Senior Principal on the multi-asset manager research team at Morningstar. Covering… · Experience: Morningstar · Education: Florida State University · Location: Chicago · 500+ connections on LinkedIn.
https://www.linkedin.com/in/jason-kephart-cfa-89b6989
travel_explore
web search NEUTRAL — Jason Kephart. Senior Principal. More from Author. Jason Kephart, CFA, is a senior principal, multi-asset strategy ratings, for Morningstar.
https://dhms8q85tpugt.cloudfront.net/financial-advisors/is-n…
check_circle
Claim 3: “It's an approach that was adopted by the California Public Employees' Retirement System in November, when it became the first United States pension fund to do so.”
CORROBORATED
Two independent web sources explicitly state that CalPERS became the first U.S. pension fund to adopt the total portfolio approach (TPA) in November.
travel_explore
web search NEUTRAL — As other pensions shift from Strategic Asset Allocation (SAA) to TPA, trillions in investments will be re-evaluated. Here are the key considerations that asset managers need to consider with this shif…
https://www.linkedin.com/posts/getcolby_in-november-calpers-…
travel_explore
web search NEUTRAL — The California Public Employees’ Retirement System officially became the first U.S. pension fund to adopt a total portfolio approach (TPA), after its board voted in favor of the measure.
https://www.marketsgroup.org/news/calpers-becomes-first-u-s-…
travel_explore
web search NEUTRAL — Since 1932, CalPERS has built retirement security for these public servants. Roughly one-third of our members, about 825,000 people, are retired or a beneficiary. Today the average retiree receives al…
https://news.calpers.ca.gov/a-new-years-message-from-calpers…
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.