According to John Tyler Williamson, the weakness of the Golden Butterfly portfolio is that it uses gold and solely relies on US stocks. To address this weakness, substitute gold with TIP and REIT and introduce international stocks.

Here is a modified version of this portfolio using eToro that addresses the above weaknesses.

  • 20% Total World Stock Market (VT)
  • 20% Total World Small Cap Value (VBR 10%; DLS 10%)
  • 20% Long-term Bonds (VGLT) → TLT
  • 20% Short-term Bonds (VGSH) → BSV
  • 10% TIPS (TIP)
  • 10% REITS (VNQ)


Williamson, J. (2021, May 29). Golden Butterfly Portfolio Review and M1 Finance ETF Pie. Optimized Portfolio.