Robo War Experiment (RWE) Update – December 2025

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2026/01/03/robo-war-experiment-rwe-update-december-2025/

This is a performance update to my Robo War Experiment (RWE) posted here:
https://pwlcm.wordpress.com/2025/12/03/robo-war-experiment-rwe-update-november-2025/

Disclaimer: This post is just for educational sharing purposes. Please do your own due diligence on any products mentioned in this post.

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Performance Update

Here is the December 2025 Performance Update:

All 5 robo advisor portfolios were less than 1% above or under water (Endowus/MoneyOwl/SqSave above, Syfe/StashAway under) in December 2025, and all 3 benchmark indices went red.

In terms of 2025 Returns, all except S&P 500 remained in double digit returns, with Endowus taking the top spot at 14.02% and S&P 500 at the bottom at 9.38%.

In terms of XIRR since inception, S&P Index took the lead at 11.32%, and Endowus kept the leadership position among the robo advisor portfolios at 8.62%.

Let's take a look at the 2021~2025 Monthly Return Statistics:

Among the robo advisors, SqSave took the 2 extreme ends of monthly returns (maximum at 11.25% and minimum at -9.15%), not surprising that it had the highest standard deviation at 3.75%. Its average monthly return was the second lowest.

On the other hand, S&P 500 was the most volatile among the benchmark indices, highest return at 8.23%, lowest return at -7.82%, and highest standard deviation at 3.84%. However, it achieved the highest average monthly return.

The last row of the table was the Ratio of Average Monthly Return over Standard Deviation, we can think of it as a measure of Risk-Adjusted Return. The highest the ratio, the better the risk-adjusted return. From this perspective, we can see that Endowus and S&P 500 has the highest Risk-Adjusted Return among the robo advisors and benchmark indices respectively.

Key Observations

• All 5 robo advisor portfolios and 3 benchmark indices had a somewhat flat returns in December 2025.
• In terms of 2025 returns, all the robo advisor portfolios and benchmark indices (except S&P 500) stayed in the double digit territory.
• Endowus retained the leader position among the robo advisors in terms of XIRR since inception, and it even beat S&P 500 in terms of Risk-Adjusted Return.

Referral Links

Endowus: https://endowus.com/invite?code=J6YV3
Syfe: https://www.syfe.com/invite/wealth/SRPTRJTFQ
StashAway: https://www.stashaway.sg/referrals/choonght43