Macroscope: Why losing less means gaining more over the long term

Upside /downside capture ratios indicates by how much a portfolio or fund has outperformed its benchmark during periods of market strength and weakness respectively. An upside capture ratio of over 100 indicates that the fund generally outperformed the benchmark during positive market periods, while a downside capture ratio of less than 100 indicates that the fund lost less than its benchmark during negative market periods. Click here to read our latest market bulletin.