For the full year, EVAL gained just over 36% and topped the benchmark SPX by 21%. Looking back a little farther, EVALS has been on an absolute tear since September 2009, outperforming the benchmark S&P 500 index in 15 of the 17 months since then and running up a net performance gain against the SPX of over 32% during the period.
During the fourth quarter of 2010, EVALS saw extended holding periods and very little in the way of changes in holdings. On the other hand, the launch of a number of new volatility-based ETNs and ETFs toward the end of the quarter ensures that EVALS will place more emphasis on volatility strategies going forward. This will likely mean increased upside potential, as well as higher portfolio volatility.
The graphic below shows the monthly performance for EVALS and the SPX since the August 21, 2008 inception. Note that detailed monthly performance data for 2008 and 2009 can be found in previous posts.
Disclosure(s): none
