The allocations for June differ, but only slightly, between the original approach and my modified version:
|S&P 500 (SPY)||33%||28%|
|MSCI EAFA (EFA)||12%||—|
|Emerging Markets (EEM)||—||20%|
|US Bonds (TLT)||55%||52%|
Both strategies have more than 50% in bonds, not surprising at all considering the recent rally in bonds. Both strategies also have about a third in US stocks, but while the original strategy favours EFA (MSCI EAFE – Europe, Australia, Asia and the Far East), my modified version prefers to stick with the emerging markets. Most likely these differences will prove insubstantial.