Portfolio a alokace
Quarterly Portfolio Review: What to Check Every Three Months
Key takeaways
- A quarterly review is not about tracking performance — it is about checking the deviation from the plan.
- Rebalance only when the deviation exceeds 5 percentage points; otherwise leave the portfolio alone.
- Check dividends and coupons: are they correctly reinvested or declared for tax purposes?
- We do not make strategy changes based on the last quarter — that is noise, not signal.
- Note the date of the next earnings releases or rebalancing event — the system keeps you disciplined.
A quarterly portfolio review is not about searching for a better opportunity — it is about checking whether the portfolio still matches your plan and risk tolerance. Thirty minutes four times a year is enough.
Step 1: Check the allocation deviation
Open your portfolio overview and compare actual weights with targets. Example: target 70% equities, 20% bonds, 10% gold. If equities have risen to 78%, you are outside the band. Rule: rebalance only when the deviation exceeds 5 percentage points from the target weight.
Step 2: Check incoming dividends and coupons
- Are dividends automatically reinvested (accumulating share class)?
- Has a dividend arrived in the account — is it included in the tax return?
- Is everything correctly recorded in the purchase/sale log for the holding-period test?
Step 3: We do not make strategic changes
A quarterly review is not the time to change strategy based on recent market performance. If the equity market fell 10% in the quarter, that is not a signal to reduce the equity component — it is normal volatility. Tracking short-term results and mistaking them for a signal leads to buy-high / sell-low. For what risk actually means, see the article on risk.
Step 4: Check contributions against the goal
Did you contribute as much as planned in the last quarter? If not, why — was it an exceptional expense or a structural issue? Compare the actual portfolio value with the projection and adjust contribution levels if needed.
Review outcome
After 30 minutes you should know: allocation within band (yes/no), dividends handled (yes/no), contributions on plan (yes/no). If all three are yes — close the app and move on. The portfolio does not need you every day.
FAQ
How often should a portfolio be rebalanced?
The most common recommendation is once a year or when the deviation from the target exceeds 5–10 percentage points. A quarterly check reveals the deviation, but rebalancing every three months is usually too frequent and increases costs unnecessarily.
What is redirecting deposits in rebalancing?
Instead of selling the excess asset, you direct all new monthly deposits exclusively into the underweight component. The result is the same — the weights even out — but you pay no transaction fees and do not trigger the tax holding-period test.
Does it make sense to change strategy after a bad quarter?
Almost never. One bad quarter is statistical noise, not a signal about a flawed strategy. Strategy changes should come from changes in your life situation (shorter horizon, lower risk tolerance), not from short-term performance.