Portfolio Rebalancing Worksheet

Who this is for

Bring a portfolio back to the mix you chose. Each asset class or fund has a line for what it is worth today and the share you want it to be, and the sheet works out its weight now, how far it has drifted and the amount to buy or sell, with any new money you plan to add counted in.

Investors who have set their own target mix of shares, bonds, cash or funds and review it from time to time, whether in a pension, a tax-free account or an ordinary dealing account.

What this helps you track

• The value and current weight of each part of the portfolio
• Your own target weight for each part
• How far each part has drifted, and whether it is past your trigger
• The amount to buy or sell to get back to the target
• Fee and tax points to check before placing any trade

How to use it

1. Write the date, the total value of everything listed and any new money you plan to add; the target mix and the drift trigger are your own choices.
2. List each asset class or fund with its value today from your statements or platform and your target weight for it, and check the targets add up to 100.
3. Now, Drift, At target and Buy/sell are worked out in the browser and the workbook; on paper, divide each value by the total and compare it with the target.
4. A plus figure in Buy/sell is the amount to add to that part and a minus figure the amount to take out. New money put into the parts below target can mean less selling.
5. Work through the checks before you trade, and write the next review date at the top.

Formats

• Printable PDF (A4 and US Letter)
• Fillable PDF with form fields
• Fill in online, saved in your browser
• Excel / Google Sheets workbook

The printable is laid out inside a box that fits both A4 and US Letter, so the two files are identical and neither one is scaled. The fillable PDF has real form fields. The workbook uses plain formulas only — SUM, IF, COUNTIF and the like — so it opens in Excel, LibreOffice and Google Sheets without anything breaking, and every calculated cell is grey so you can see which figures it worked out.

How to print

Download the A4 or US Letter file to match the paper in your printer, open it in a PDF reader and print at 100% — not "fit to page", which shrinks the writing space. Both files leave a 14 mm margin, which clears the unprintable edge on home printers. To print the online version with your entries in it, use the Print this sheet button, which prints only the sheet and none of the page around it. More on printing.

Questions

How do I choose my target mix?

That is your decision, or one to make with an adviser, based on your goals, timescale and how much risk you can take. The sheet suggests no mix; it works from the target percentages you enter.

How often should I rebalance?

Some people review on a fixed date and some when a part drifts past a set amount; both are personal choices. The drift trigger field holds your own figure in percentage points, and the Trigger column marks each part beyond it with a 1.

What does the drift column show?

The weight now minus the target weight, in percentage points of the whole portfolio. A part above its target shows a plus figure and a part below it a minus figure.

Why do I enter the total value myself?

Each line needs the total to work out its weight, and a line cannot add up the others. Enter the sum of the value column; the summary adds the lines up as well, so a mismatch shows at once.

Does rebalancing cost anything?

It can. Dealing fees, fund switching charges and tax on any gain from selling all depend on the account and the rules where you are, which is why the checks sit on the same page as the figures.