Glossary
Active Share
The active share measures the extent to which the holdings of an equity portfolio differ from the benchmark. The ratio can take values between 0 and 1, where 0 is a complete match between the portfolio and the benchmark and 1 where is no overlap between the portfolio and the benchmark. The higher the Active Share, the more active the fund manager.
Beta
The beta measures the volatility of a fund in relation to the benchmark. A beta of 0 means that there is no dependency. If the beta fluctuates between 0 and 1, the price change of the share is on average less than that of the benchmark. A beta greater than 1 indicates that the price change of the security is on average higher than that of the benchmark.