What S&P Rankings Ignore

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Although portfolio opportunity distributions (PODs) are an important statistical tool for evaluating managers' performance, they've suffered from a lack of a standardized benchmark. New enhanced PODs rectify the problem by evaluating managers around a popular S&P or Russell index.

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Using peer groups to rank your money managers is so last century. Instead, evaluate performance with simulated peer groups that show you where your manager really ranks on the skill-vs.-luck spectrum.

Benchmarking Your Benchmarks

Mid-cap growth returned 28.7% in 1999—or was it 67.3%? It all depends on which major index you look at. If a 3,860-basis-point differential is a little hard to take, maybe you should not only benchmark your investments, but benchmark your index against its peers.

The Problems With Equity Indexes

Equity indexes often hide as much as they reveal.