Fondo Mutuo Jensen Alpha

CFMDIVO Etf  CLP 1,397  10.20  0.74%   
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Fondo Mutuo ETF has current Jensen Alpha of (0.09). Jensen alpha is a measure of the returns that are attributable to the managers' ability to select security and time the market. In other words, it is the returns remaining after deducting what would have been attributable to beta returns (which do not require skill) and the risk-freerate.

Jensen Alpha

 = 

ER[a] - RFR * (1-BETA)

-

BETA * ER[b])

 = 
(0.09)
ER[a] = Expected return on investing in Fondo Mutuo
ER[b] = Expected return on market index or selected benchmark
BETA = Beta coefficient between Fondo Mutuo and the market
RFR = Risk Free Rate of return. Typically T-Bill Rate

Fondo Mutuo Jensen Alpha Peers Comparison

Fondo Jensen Alpha Relative To Other Indicators

Fondo Mutuo ETF is rated below average in jensen alpha as compared to similar ETFs. It is second largest ETF in maximum drawdown as compared to similar ETFs .
Jensen alpha is the difference between the return of the portfolio, and what the portfolio should theoretically have earned. Any portfolio can be expected to earn the risk-free rate (RF), plus the market risk premium (which is given by [Beta x (Market Portfolio Return - Risk-Free Rate)]. Anything remaining over and above is alpha.
Compare Fondo Mutuo to Peers

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