Vanguard is winning the competition among robo-advisors. The AUM of Personal Advisor Services, its robo platform, at the end of the first half was $83 billion, more than four times the AUM of its closest rival, Schwab Intelligent Portfolios, and almost five times the assets at inception in March 2015.
In addition, a sample 60/40 taxable portfolio in Personal Advisor Services outperformed 16 other competitors in the first half, according to the latest Robo Report from Ken Schapiro, the founder and president of Condor Capital Management, and Backend Benchmarking.
The Vanguard portfolio gained 7.86%, followed closely by portfolios from TD Ameritrade (up 7.78%) and SigFig (up 7.67%) for the first half. The sample portfolio assumes the investor is in the highest federal tax bracket.
(Related: Who Were the Best Robo-Advisors in Q1?)