Gauges the risk of a fund by measuring the volatility of its past returns
in relation to the returns of a benchmark, such as the S&P 500 index.
A fund with a beta of 0.7 has experienced gains and losses that are 70%
of the benchmark's changes. A beta of 1.3 means the total return is likely
to move up or down 30% more than the index. A fund with a 1.0 beta is
expected to move in sync with the index.
Bottom-up investment strategy
An approach that seeks to identify investments that will produce strong
returns, before assessing the influence that economic factor will have
on those assets