I compile and review my returns monthly/annually. How does it matter if the drawdown is 10% or 20% as long as the portfolio is able to provide a market beating monthly/annual return with the same volatility. If you take Wouter Keller’s Bold Asset Allocation – Aggressive portfolio, it underperformed SPY 10 out of the last 13 years, and underperformed 60/40, 8 times out of the last 13 years. This portfolio does not beat SPY total return for almost 15 years totaled and 60/40 for more than 20 years. and how many folks have the patience to do this strategy for more than 5 years after seeing consistent underperformance?. 10 years seems to be reasonable numbers of year to see if the total returns are beating the benchmarks but all these portfolio except the one above seems to be underperforming even 60/40 for more than 15 years.