Mike, if your total portfolio is 825k including the cash, then you are down 9% for the past 12 months. The market is down 12.6% for the past 12 months. So, your losses are pretty much in line considering your AA. BUT, this may not include the 0.75% management fee. And you are losing additional returns to taxes. Some of your funds are pretty tax inefficient. The severity of losses depends on your tax bracket. And you need to be worried about taxes increasing in the next few years. Losses to taxes and fees compound just like returns and can be very substantial over time.

I guess i should feel fortunate that i'm not losing as much as i "could" be, but it also seems reasonable to expect an advised account to at least "break-even" with broad indexes even in a down market.

It's not reasonable to expect an advised account to break-even. Losses are dependent on equity exposure.