Wealthfront Statistics 2026: TLH, Returns, and Robo-Advisor Data

Wealthfront’s automated tax-loss harvesting has saved clients an estimated $1.27 billion in taxes between October 2012 and December 31, 2025, with an estimated $161 million generated in calendar year 2025 alone, according to Wealthfront’s annual TLH performance disclosure. The firm’s risk score 9 Classic Automated Investing portfolio compounded at an average 9.62% annualized since inception, turning a $10,000 starting balance into $35,102.95 by 2026, per Wealthfront’s historical performance page. Backend Benchmarking’s Q4 2025 Robo Report named Wealthfront its “best overall robo” and “best robo for performance at a low cost”.

The data below covers performance returns by risk score, tax-loss harvesting yields, product-mix revenue splits drawn from the Wealthfront S-1 registration filed with the SEC, fee structure across each Wealthfront portfolio, and competitive AUM benchmarks against Betterment, Vanguard Digital Advisor, and Schwab Intelligent Portfolios. Past performance does not guarantee future results, and tax-loss harvesting benefits depend on an individual client’s tax situation.

Key Takeaways

• Wealthfront’s tax-loss harvesting saved clients an estimated $1.27 billion in taxes from October 2012 through December 31, 2025.
• The platform harvested an estimated $161 million in client tax savings during calendar year 2025.
• The risk score 9 Classic Automated Investing portfolio returned 9.62% annualized since inception, with a time-weighted total return of 251.03%.
• Cash management produced approximately 76% of revenue in the six months ended July 31 (fiscal 2025), up from approximately 71% in fiscal 2024.
• Wealthfront prohibits cryptocurrency exposure of more than 10% of a client’s portfolio total value across iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA).
• The flat advisory fee for Automated Index Investing is 0.25% annually, with a $500 minimum to open the account.
• Wealthfront went public on December 12, 2025, pricing its IPO at $14 per share and raising $484.68 million on Nasdaq under ticker WLTH.

Editor’s Choice

• US Direct Indexing requires at least $100,000 in a taxable Automated Index Investing account.
• The S&P 500 Direct portfolio launched in late 2024 saved clients over $16 million in taxes during its first year.
• Cash management AUM grew from $2.4 billion in April 2022 to over $46 billion by July 31, 2025.
• Wealthfront managed $88.2 billion in platform assets as of July 31, 2025, split 53% cash management and 47% investment advisory.
• Funded customers totaled more than 1.3 million at the time of the S-1 filing.
• Wealthfront generated $122.8 million in net income on $338.6 million in revenue for the 12 months ended July 31, 2025.
• The Automated Bond Portfolio yielded 4.24% 30-day SEC yield after fees on January 8, 2026.

Recent Developments

• March 2026: Wealthfront’s Automated Bond Portfolio reported a blended 4.31% 30-day SEC yield as of April 7, 2026, reflecting the front-end Treasury curve.
• February 2026: Wealthfront’s annual TLH disclosure showed the 2025 client vintage at risk score 8 captured a 7.86% harvesting yield of portfolio value.
• January 2026: Backend Benchmarking named Wealthfront “best overall robo” and “best robo for performance at a low cost” in its Q4 2025 Robo Report.
• December 2025: Wealthfront completed its Nasdaq IPO at $14 per share, raising $484.68 million at a $2.05 billion market cap.
• April 2025: Wealthfront’s software harvested $100 million of losses in three days during the “Liberation Day” market selloff.
• Late 2024: The standalone S&P 500 Direct product launched at a $5,000 minimum and a 0.09% fee, a tenth of the Automated Investing rate.

Wealthfront Tax-Loss Harvesting Cumulative Savings

• Cumulative client tax savings since October 2012 through December 31, 2025: $1.27 billion.
• Tax savings generated in 2025 alone: an estimated $161 million.
• Cumulative dollar losses harvested over the program’s first decade: $3.2 billion.
• Single-event harvest during the April 2025 volatility: $100 million in losses across three days.
• Harvesting yield reported for the 2025 risk score 8 client vintage: 7.86% of portfolio value.
• Crypto trusts are not eligible for tax-loss harvesting because no viable alternate fund exists.

Source: Wealthfront blog disclosures (2025 TLH results, 10-year TLH milestone)

By the numbers: Wealthfront has harvested $1.27 billion in client tax savings since launching the service in October 2012, with the 2025 calendar year alone contributing an estimated $161 million. The April 2025 selloff produced a $100 million loss harvest in three days, illustrating how volatility drives the tool’s value to taxable accounts.

Don't chase the news. Let us curate it.

You get one weekly briefing with only the stories that matter. If the market is quiet, we skip it.

Email address

Get the Weekly Briefing - it's free!

✅ Join readers from Visa, Vanguard, and the FDIC.

Tax-Loss Harvesting ROI Crossover

The fee-versus-benefit math for Wealthfront’s tax-loss harvesting is concrete enough to compute on the back of an envelope. For the 2025 vintage at risk score 8, Wealthfront reported a 7.86% harvesting yield, and Wealthfront’s own disclosure states that estimated tax benefits are computed by multiplying that yield by the client’s marginal tax rate, with the firm citing a 25% to 50% range as a reasonable bracket for most clients.

• At a 25% marginal rate, the 7.86% yield converts to roughly 1.97% tax alpha (7.86 x 0.25).
• At 30%, the alpha rises to about 2.36% (7.86 x 0.30).
• At 50%, the figure approaches 3.93% (7.86 x 0.50).
• Wealthfront’s flat advisory fee on the Automated Investing Account is 0.25% annually.
• The fee-coverage ratio at 30% works out to roughly 9.4x (2.36 / 0.25).

Source: Wealthfront 2025 TLH results disclosure, Wealthfront pricing page

Two caveats apply. The 7.86% yield is one cohort in one year; harvesting yields drop in low-volatility years. The fee crossover is also strictly tax alpha, not total return alpha, so a portfolio underperforming its benchmark by more than the harvested loss benefit can still leave a client worse off after fees and taxes.

Compared to Betterment, which charges the same 0.25% Digital advisory fee and reports that nearly 70% of its tax-loss harvesting users covered their advisory fees through estimated tax savings, Wealthfront’s disclosed crossover threshold sits well below the headline portfolio sizes most robo-advisor reviews use. The implication: TLH is a structurally important component of the value proposition for any client in a taxable account, not an optional add-on.

For a broader competitive context, the robo-advisors market statistics page tracks how this fee compression has played out across the category.

Wealthfront Direct Indexing Adoption

• US Direct Indexing minimum: At least $100,000 in taxable Automated Index Investing.
• Smart Beta automatic transition threshold: $500,000.
• Standalone S&P 500 Direct minimum: $5,000.
• Standalone Nasdaq-100 Direct minimum: $5,000.
• US Equity allocation in a typical $100,000 account: Roughly $30,000, the level needed to track broad US market performance via 100 large-cap stocks.
• S&P 500 Direct first-year tax savings (launched late 2024): Over $16 million across all clients.

Wealthfront Investment Performance by Risk Score

• Risk score 9 Classic Automated Investing annualized since inception: 9.62%.
• Time-weighted total return for the same risk score 9 portfolio: 251.03% cumulative.
• A $10,000 invested in 2012 in the risk score 9 portfolio grew to $35,102.95 by 2026.
• Wealthfront’s portfolio risk score range: 0.5 to 10, with risk score 9 sitting at the aggressive end.
• S&P 500 gain in Q4 2025: 2.65% per Backend Benchmarking’s Robo Report data tables.
• Backend Benchmarking accolades: “best overall robo” and “best robo for performance at a low cost” in the Q4 2025 Robo Report.

Source: Wealthfront historical performance disclosure, Backend Benchmarking Robo Report

Robo-Advisor Performance Paradox

The risk-score-9 headline return looks decisive in isolation, but the value of aggressive against moderate scores is more nuanced once tax-loss harvesting compounds in. Aggressive buckets capture more upside in trending markets, while moderate scores capture more harvesting yield in volatile ones because there are more rebalancing pairs to swap when dispersion widens.

• Risk score 9 annualized return since 2012: 9.62%.
• Reported 2025 harvesting yield at risk score 8: 7.86% of portfolio.
• At 30%, that yield converts to roughly 2.36% tax alpha (7.86 x 0.30).
• A risk-8 vintage in a high-volatility year: nominal return plus roughly 2.36% in tax savings before fees.
• The Backend Benchmarking Robo Report tracks over 45 metrics across the industry, including risk-adjusted returns net of fees.

Why it matters: A portfolio’s after-tax return matters more than its pre-tax headline. For the 2025 risk score 8 vintage, Wealthfront’s 7.86% harvesting yield, per the firm’s published cohort disclosure, can convert to a tax alpha that rivals or exceeds the spread between aggressive and moderate risk scores in lower-volatility years, blunting the case that risk score 10 always wins on after-fee terms.

Wealthfront Product Mix and Revenue Breakdown

• Cash management share of total revenue, fiscal 2024: approximately 71%.
• Cash management share, fiscal 2025: approximately 75%.
• Cash management share, six months ended July 31, 2025: approximately 76%.
• Total platform assets at S-1 filing: $88.2 billion as of July 31, 2025.
• Cash management vs investment advisory split at S-1 filing: 53% cash management / 47% investment advisory.
• Funded customers at S-1 filing: more than 1.3 million.

For comparable retail-broker product-mix data, the Robinhood vs Coinbase statistics page covers two adjacent fintech revenue stacks where transaction-based and net-interest income mix differently than at a robo-advisor.

Wealthfront Cash Account Growth

• Cash management AUM in April 2022: $2.4 billion.
• Cash management AUM by July 31, 2025: over $46 billion.
• Cash management share of revenue, fiscal 2025: approximately 75%.
• Net income for the 12 months ended July 31, 2025: $122.8 million.
• Revenue for the 12 months ended July 31, 2025: $338.6 million.
• Cash AUM growth: roughly 19x over three years (46 / 2.4).

Wealthfront Crypto Allocation Statistics

• Crypto allocation cap: clients cannot set crypto exposure to more than 10% of portfolio’s total value.
• Current crypto vehicles: iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA).
• Tax-loss harvesting eligibility for crypto trusts: not eligible, because no viable alternate fund exists.
• Cold-storage policy on the underlying coins: 100% held in cold storage, with insurance coverage in the case of theft.
• Coin-lending policy on underlying assets: BlackRock does not lend the underlying coins.
• Original crypto vehicles offered (2021): Grayscale Bitcoin Trust and Grayscale Ethereum Trust.

Source: Wealthfront cryptocurrency support documentation

For a deeper view of how crypto allocation rules are tightening across robo-advisors, the AI-powered robo trading statistics page covers the broader category.

Wealthfront Fee Structure by Product

• Automated Index Investing fee: 0.25% annually.
• Automated Bond Portfolio fee: 0.25% annually.
• Automated Bond Ladder fee: 0.15% annually.
• S&P 500 Direct Portfolio fee: 0.09% annually.
• Nasdaq-100 Direct Portfolio fee: 0.12% annually.
• Stock Investing Account fee: free.
• Average ETF expense ratio across portfolios: 0.08%.
• Minimum investment to open an Automated Investing Account: $500.

Wealthfront vs Betterment AUM and Fees

• Wealthfront platform assets, February 2026: $94.1 billion.
• Betterment AUM, November 2025: over $65 billion.
• Betterment customer count, year-end 2025: more than 1 million.
• Wealthfront Automated Investing fee: 0.25% annually.
• Betterment Digital plan fee: 0.25% annually.
• Betterment Premium plan fee: 0.65% total (0.25% Digital base plus 0.40% Premium add-on).
• Betterment claimed historical TLH after-tax additional return: 0.77% annually.

Source: Wealthfront Investor Relations, Betterment public communications and pricing page

For employee-count and operating-efficiency data on Wealthfront, the Wealthfront employee count breakdown covers headcount, revenue per employee, and the IPO offering math. The broader fintech IPO statistics page contextualizes Wealthfront’s recent listing within the year’s public-listing pipeline.

Wealthfront vs Vanguard Digital Advisor

• Vanguard Digital Advisor pure-robo AUM, June 30, 2024: more than $19 billion.
• Vanguard Personal Advisor (hybrid robo + human) AUM, June 30, 2024: $324 billion.
• Vanguard Personal Advisor minimum: $50,000.
• Wealthfront platform assets, February 2026: $94.1 billion.
• Wealthfront Automated Investing fee: 0.25%.

Source: Wealthfront IR, Vanguard corporate press (Digital Advisor and Personal Advisor disclosures)

Wealthfront vs Schwab Intelligent Portfolios

• Schwab Intelligent Portfolios minimum: $5,000 for the base service.
• Schwab Intelligent Portfolios advisory fee: zero management fee.
• Asset classes covered by Schwab Intelligent Portfolios: over 20 via 51 ETFs.
• Cash allocation policy: a larger cash allocation than other robo-advisors, per Schwab’s published methodology.
• Wealthfront platform assets, February 2026: $94.1 billion.
• Wealthfront Automated Investing fee: 0.25%.

Source: Wealthfront IR, Charles Schwab Intelligent Portfolios product disclosures

The base-fee picture has compressed to a tight band across this set, and the differentiation has shifted from cents-on-the-fee to product depth: direct indexing minimums, cash account integration, and tax-loss harvesting transparency are the lines competitors are now drawing.

Frequently Asked Questions (FAQs)

Conclusion

The data assembled here points to a consistent story: Wealthfront’s structural advantage now sits in tax-loss harvesting depth and direct-indexing breadth rather than in headline fees, where the category has compressed to a 0.25% baseline against rivals at 0.25% or zero. The $1.27 billion in cumulative client tax savings since inception, paired with a 9.62% annualized risk score, 9 return, and a 7.86% harvesting yield for the risk score 8 vintage, frames the value proposition in dollars rather than marketing claims.

For taxable accounts at the $100,000 US Direct Indexing minimum or more, the fee crossover math is decisive enough that the harvesting program functions as the primary economic engine of the relationship, not a side benefit. For smaller balances, the standalone $5,000-minimum S&P 500 Direct and Nasdaq-100 Direct portfolios at 0.09% and 0.12% bring stock-level harvesting within reach for the first time. Whether this product set widens Wealthfront’s lead over Betterment (over $65 billion AUM), Vanguard’s Digital Advisor service (more than $19 billion in AUM), and Schwab Intelligent Portfolios depends on how the rivals close the direct-indexing minimum gap over the next two reporting cycles, particularly after Betterment’s 2025 acquisitions of Ellevest’s automated business and Rowboat Advisors for direct indexing technology.