Learn More About the Equal Sector Strategyof Select Sector SPDRs
Bibliographic record
Abstract
Sturm [2010] find that an equally weighted portfolio of sector ETFs outperformed the S&P 500 on both an absolute and risk-adjusted basis over the 2000–2007 period. State Street Global Advisors find similar results during the 2001–2010 period. The authors reconsider these fi ndings for the longer 1989–2011 period. They fi nd that an equally weighted portfolio of sector ETFs did not outperform the S&P 500 over this longer period. They also find that an equally weighted portfolio of sector ETFs tends to be less volatile than the S&P 500 and may outperform it on a risk-adjusted basis during periods of heightened market volatility. <b>TOPICS:</b>Exchange-traded funds and applications, performance measurement
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.001 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.001 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".