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M*: Sorting The Rebels From The Conformists: Tracking Error
FYI: Does your fund have a surprise in store? Tracking error might give you the answer. Tracking error is a favorite measure of the investment industry. It measures the volatility of a fund that is not explained by the fund's index. In other words, it measures how much a fund's returns have varied from the index's. Regards, Ted http://www.morningstar.com/articles/856692/sorting-the-rebels-from-the-conformists.html
