Why we’re underweight stocks | 2026 Vanguard Economic and Market Outlook
Are you being adequately rewarded for equity risk? Vanguard models suggest not.
That’s why our time-varying portfolio currently has a tilt of 40% stocks and 60% bonds—more conservative than the traditional 60/40 balanced portfolio.
Roger Aliaga-Díaz, Vanguard global head of portfolio construction, explains how we’re balancing risk and return.
Explore our full 2026 economic and market outlook: https://vgi.vg/4q690TI
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0:00 – Intro
0:14 – Balancing risk
0:38 – Bonds remain attractive
1:27 – A role for non-U.S. stocks