The Democrat vehicle, NANC, has delivered better returns than the S&P 500, while oil-heavy KRUZ outperformed the DJIA
US politicians are making better risk-adjusted returns than those chalked up by the public at large, according to analysis of two partisan exchange traded funds that demonstrates their wildly different portfolios. The findings might also reignite the debate over whether members of Congress should be able to make active stock trading decisions, given their potential access to confidential tradeable information.
returned 37.5 per cent in the year to the end of March, outstripping the 29.9 per cent of the S&P 500, with better Sharpe and Sortino ratios — two measures of risk-adjusted returns. KRUZ has done less well, making 25.4 per cent over the same period. However, it has beaten the 22.2 per cent return of the Dow Jones Industrial Average, which Cooper argued was a fairer comparison given KRUZ’s radically different sector weightings and value stock-laden portfolio.
’s 734 stocks — followed by industry peer ConocoPhillips, the 200th-largest holding in . “It’s truly astonishing how different they are,” said Cooper. “There are 1,200 names between the funds and the overlap between them is almost non-existent. It’s almost like a psychology test for a world view.” KRUZ has just a 3.8 per cent exposure to the Magnificent Seven tech stocks, compared with their 28.7 per cent weighting in the S&P 500 and 35.6 per cent share of
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