投资组合再平衡计算器
将您的投资组合与目标配置对齐
投资组合货币
当前投资组合与目标配置
输入每个资产名称、当前价值和您期望的目标配置百分比。
目标合计:
再平衡摘要
投资组合总价值
A$100,000.00
所需操作
最大调整
Australian Stocks
-A$5,000.00
当前配置 vs 目标配置
再平衡详情
| 资产 | 当前价值 | 当前 % | 目标 % | 目标价值 | 操作 | 金额 |
|---|---|---|---|---|---|---|
Australian Stocks | A$45,000.00 | 45.0% | 40.0% | A$40,000.00 | SELL | A$5,000.00 |
US Stocks | A$25,000.00 | 25.0% | 30.0% | A$30,000.00 | BUY | A$5,000.00 |
International Bonds | A$20,000.00 | 20.0% | 20.0% | A$20,000.00 | HOLD | — |
Cash | A$10,000.00 | 10.0% | 10.0% | A$10,000.00 | HOLD | — |
步骤1： 选择您的投资组合货币并添加您持有的每个资产或资产类别。
步骤2： 输入每个持仓的当前市场价值和您期望的目标配置百分比。
步骤3： 确保您的目标百分比合计恰好为100%。
步骤4： 查看结果表，准确了解每个资产需要买入或卖出多少。
什么是投资组合再平衡？
投资组合再平衡是调整投资组合内资产权重的过程，使其重新与目标配置保持一致。
再平衡的目的不是最大化回报，而是维持您最初选择的风险水平。
为什么再平衡很重要
首先，它控制风险。没有再平衡，投资组合自然会向表现最好的资产类别倾斜。
其次，再平衡将纪律融入投资过程。通过系统性地减持赢家和增持落后者，您实际上在以结构化、无情绪的方式低买高卖。
第三，再平衡使您的投资组合与财务目标保持一致。
如何使用此再平衡计算器
首先输入投资组合中每个资产类别或持仓及其当前价值。然后为每个设置目标配置百分比。
计算器将您的当前配置与目标进行比较，准确显示每个资产类别需要买入或卖出多少以恢复您期望的平衡。
何时应该再平衡？
基于日历的再平衡意味着按固定时间表审查您的投资组合——每季度、每半年或每年。
基于阈值的再平衡意味着只有当一个或多个资产类别偏离目标达到设定量（通常为5个百分点）时才进行再平衡。
Vanguard和其他机构的研究表明，具体的再平衡频率不如坚持执行重要。关键是制定计划并无论市场条件如何都坚持执行。
不卖出的再平衡：现金流方法
最节税的再平衡方式之一是将新的贡献导向配置不足的资产类别，而不是卖出配置过多的资产。
需要避免的常见再平衡错误
最常见的错误是根本不做再平衡。许多投资者设定目标配置后就不再审查，让投资组合随市场波动漂移数年。
过度再平衡是另一个陷阱。过于频繁地再平衡会产生不必要的交易成本和潜在的税务后果。
基于情绪而非目标的再平衡也是有问题的。坚持您预定的目标，让流程发挥作用。
常见问题
大多数投资者使用3到10个资产类别。计算器支持最多10个资产类别。
此工具支持多币种投资组合。以原始货币输入每个持仓并选择再平衡计算的基础货币。
再平衡主要是风险管理工具，而非回报增强策略。但由于它迫使您系统性地低买高卖，可以在长期内适度改善风险调整后的回报。
理想情况下，您应该将所有账户（经纪、退休、储蓄）的整个投资组合视为一个综合配置。
没有通用答案——取决于您的年龄、目标、风险承受能力和时间范围。
Asset Allocation, Sharpe Ratio & Drawdown: Measuring Portfolio Quality
Asset allocation is the most important driver of long-term portfolio performance — more than individual security selection or market timing. Your target allocation in this asset allocation calculator should reflect your investment horizon, risk tolerance, and income needs. Broad evidence from academic research (including Brinson, Hood & Beebower's landmark 1986 study) attributes over 90% of portfolio return variation to asset allocation decisions. Getting the allocation right and maintaining it through rebalancing is the highest-leverage decision a long-term investor can make.
The Sharpe ratio measures risk-adjusted return: (Portfolio Return − Risk-Free Rate) / Standard Deviation. A Sharpe ratio above 1.0 is generally considered good; above 2.0 is excellent. The Sortino ratio improves on this by using only downside deviation in the denominator — it penalises downside volatility but not upside volatility, making it more relevant for investors who are only concerned with losses. When comparing two portfolios with similar returns, the one with the higher Sharpe or Sortino ratio achieved those returns with less risk.
A drawdown calculator measures the peak-to-trough decline in a portfolio's value. Maximum drawdown is the largest observed loss from a historical peak. Drawdown is a key risk metric because investors often abandon their strategy during large drawdowns — selling at the bottom and locking in losses. A well-rebalanced portfolio with appropriate asset allocation typically experiences smaller maximum drawdowns than a portfolio that has drifted toward equities after a bull market.
Expense ratio is the annual cost of owning a fund, expressed as a percentage of assets. A 1% expense ratio on a $500,000 portfolio costs $5,000 per year — money that compounds against you over time. For long-term investors, preferring low-cost index funds (expense ratios below 0.20%) over actively managed funds (often 0.75–1.5%) can add hundreds of thousands of dollars to your final portfolio value. When setting target allocations in this rebalancing tool, factor in the expense ratio of each fund: the cheapest option within each asset class is usually the correct choice for passive investors.
Understand the strategy behind rebalancing: Capital Allocation Guide →