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E6 Chartbooks · September 17, 2026

Foundations of a durable portfolio.

Five original exhibits on loss, costs, cash flow, inflation and bond yields.

The foundation collection pairs transparent portfolio arithmetic with dated economic evidence. Its September observations and original default assumptions are retained here.

Market data through September 17, 2026 · CPI through August 2026
Reissued October 1 from the September 17 research snapshot.

5Foundation exhibits

Original September research snapshot

4.94%10-year Treasury par yield

September 17, 2026; not a realized return

Aug 2026Latest CPI observation

As available at the September snapshot

01 / Mathematical illustration

How much gain repairs a loss?

The climb back gets steeper.

A 40% decline requires a 66.7% gain to return to the starting value. Recovery depends on the smaller remaining base.

Worth discussing

How much loss can your plan and behavior withstand before you would need to sell?

No market observation period

66.67%gain needed after a 40% loss

Mathematical example; no recovery time or probability is implied.

Read this chart correctly. Arithmetic, not a forecast or a strategy result. No recovery time is implied. Fees, taxes and cash flows are excluded. A 100% loss has no finite recovery percentage.
Source: Original E6 calculation.

02 / Hypothetical arithmetic

What does a recurring fee change?

Costs compound alongside returns.

On the same assumed gross return path, a recurring fee reduces both the balance and the capital available to compound. The ending-value difference includes forgone growth.

Worth discussing

Are you comparing the complete cost and the services actually received?

Assumptions: $100,000 · 6% gross each year · 20 years

0.25% annual fee1.00% annual fee
Costs compound alongside returns.0.25% annual fee. 0: $100,000; 2: $111,799; 4: $124,990; 6: $139,737; 8: $156,225; 10: $174,658; 12: $195,265; 14: $218,305; 16: $244,062; 18: $272,859; 20: $305,053$0$85K$171K$256K$342K02468101214161820
Read this chart correctly. The constant 6% return is assumed, not a forecast. Fees are illustrative, not E6 quotes. Excludes taxes, inflation, other costs and cash flows. Different fee conventions change results. Lower cost alone does not establish better value.
Source: Original E6 calculation.

03 / Hypothetical arithmetic

Can the same returns lead to different outcomes?

Withdrawals make return order matter.

Both selected return orders finish at $110,000 without withdrawals. With $5,000 withdrawn at each year's start, the loss-first order ends lower.

Worth discussing

Which spending could continue during an unfavorable early sequence?

$100,000 start · $5,000 beginning-of-year withdrawal

Loss first: −20%, +25%, +10%Loss last: +10%, +25%, −20%
Withdrawals make return order matter.Loss first: −20%, +25%, +10%. Start: $100,000; Year 1: $76,000; Year 2: $88,750; Year 3: $92,125$0$35K$70K$104K$139KStartYear 1Year 2Year 3
Read this chart correctly. Selected three-year sequences are not historical returns, forecasts or a statement of probability. No safe withdrawal rate is established. Fees, taxes, inflation and other cash flows are excluded.
Source: Original E6 calculation.

04 / Observed prices + arithmetic

What happened to a fixed cash balance?

The price level is the bill you actually pay.

A basket costing $100,000 in January 2020 cost about $129,852 in August 2026. An unchanged $100,000 bought about $77,011 of the original basket.

Worth discussing

Have near-term spending reserves been updated for today's dollar costs?

January 2020 to August 2026

Read this chart correctly. A fixed balance earning no interest is assumed. This is a price comparison, not a cash-investment return. The third bar is in January 2020 dollars; the first two are each period's nominal dollars. Household spending can differ from CPI. Endpoints only; no missing month is interpolated.
BLS · CPI-U, all items; August 2026 release

05 / Observed market data

What changed in the bond opportunity set?

A higher yield comes with a time commitment.

A higher quoted yield does not remove price risk. Match maturity and interest-rate sensitivity to when the money may be needed.

Worth discussing

Which dollars have a known spending date, and which can tolerate changes in market value?

September 17, 2026

Sep 17, 2026
A higher yield comes with a time commitment.Sep 17, 2026. 3 mo: 4.12%; 6 mo: 4.2%; 1 yr: 4.4%; 2 yr: 4.67%; 5 yr: 4.78%; 10 yr: 4.94%; 20 yr: 5.32%; 30 yr: 5.29%0%1.58%3.16%4.74%6.32%3 mo6 mo1 yr2 yr5 yr10 yr20 yr30 yr
Read this chart correctly. Indicative, interpolated par yields are not executable quotes, realized returns, or bond-fund total returns. Selling before maturity can produce losses. Reinvestment rates, fees and taxes affect results.
U.S. Treasury · Daily Treasury Par Yield Curve Rates

Putting the charts together

The portfolio still needs a job description.

No single statistic captures the investor experience. Costs, the order of returns, spending needs and purchasing power all affect what a portfolio must accomplish. These examples isolate one mechanism at a time; they are not evidence that any particular portfolio will succeed.

E6 Portfolios, LLC. Educational information, not an individualized recommendation or an offer to buy or sell a security. Investing involves risk, including loss of principal. Economic observations, illustrative arithmetic, and actual investment performance are different measures. No chart shows E6 or client returns. Data are dated snapshots; later releases can differ. Sources do not sponsor or endorse this publication.

E6-CB-2026-09 · Version 1.0 · U.S. dollars unless otherwise stated. The downloadable PDF preserves the edition's default examples. Printing this page preserves the displayed interactive assumptions.

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