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Snapshot article analyzes performance measures in actively managed portfolios, suggesting improved evaluation methods.
Quickly apply original, key PMR-published papers with Snapshots—a short article companion that distills PMR research into compressed, digestible takeaways, so you can put the paper’s core ideas to work in your investment process—fast. This Snapshot article is based on research arguing that for mean–variance evaluation, the information ratio can misrank active portfolios; the marginal Sharpe ratio fits “hold alone” mandates, and potential performance fits “hold with a benchmark” mandates.
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Derived from original PMR research written by Robert F. Engle and Ahmet K. Karagozoglu using AI and an editor (2026) studied this question.
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