id	sid	tid	token	lemma	pos
cjfa-12567	1	1	copernican	copernican	PROPN
cjfa-12567	1	2	journal	journal	PROPN
cjfa-12567	1	3	of	of	ADP
cjfa-12567	1	4	finance	finance	PROPN
cjfa-12567	1	5	&	&	CCONJ
cjfa-12567	1	6	accounting	accounting	PROPN
cjfa-12567	1	7	e	e	PROPN
cjfa-12567	1	8	-	-	PROPN
cjfa-12567	1	9	issn	issn	PROPN
cjfa-12567	1	10	2300	2300	NUM
cjfa-12567	1	11	-	-	SYM
cjfa-12567	1	12	3065	3065	NUM
cjfa-12567	1	13	p	p	PROPN
cjfa-12567	1	14	-	-	PUNCT
cjfa-12567	1	15	issn	issn	PROPN
cjfa-12567	1	16	2300	2300	NUM
cjfa-12567	1	17	-	-	SYM
cjfa-12567	1	18	12402016	12402016	NUM
cjfa-12567	1	19	,	,	PUNCT
cjfa-12567	1	20	volume	volume	NOUN
cjfa-12567	1	21	5	5	NUM
cjfa-12567	1	22	,	,	PUNCT
cjfa-12567	1	23	issue	issue	NOUN
cjfa-12567	1	24	2	2	NUM
cjfa-12567	1	25	date	date	NOUN
cjfa-12567	1	26	of	of	ADP
cjfa-12567	1	27	submission	submission	NOUN
cjfa-12567	1	28	:	:	PUNCT
cjfa-12567	1	29	august	august	PROPN
cjfa-12567	1	30	31	31	NUM
cjfa-12567	1	31	,	,	PUNCT
cjfa-12567	1	32	2016	2016	NUM
cjfa-12567	1	33	;	;	PUNCT
cjfa-12567	1	34	date	date	NOUN
cjfa-12567	1	35	of	of	ADP
cjfa-12567	1	36	acceptance	acceptance	NOUN
cjfa-12567	1	37	:	:	PUNCT
cjfa-12567	1	38	january	january	PROPN
cjfa-12567	1	39	3	3	NUM
cjfa-12567	1	40	,	,	PUNCT
cjfa-12567	1	41	2017	2017	NUM
cjfa-12567	1	42	.	.	PUNCT
cjfa-12567	2	1	*	*	PUNCT
cjfa-12567	2	2	contact	contact	NOUN
cjfa-12567	2	3	information	information	NOUN
cjfa-12567	2	4	:	:	PUNCT
cjfa-12567	3	1	k.nowak@doktorant.umk.pl	k.nowak@doktorant.umk.pl	PROPN
cjfa-12567	3	2	,	,	PUNCT
cjfa-12567	3	3	nicolaus	nicolaus	PROPN
cjfa-12567	3	4	copernicus	copernicus	PROPN
cjfa-12567	3	5	university	university	PROPN
cjfa-12567	3	6	,	,	PUNCT
cjfa-12567	3	7	gagarina	gagarina	NOUN
cjfa-12567	3	8	13a	13a	NOUN
cjfa-12567	3	9	,	,	PUNCT
cjfa-12567	3	10	87	87	NUM
cjfa-12567	3	11	-	-	SYM
cjfa-12567	3	12	100	100	NUM
cjfa-12567	3	13	toruń	toruń	NOUN
cjfa-12567	3	14	,	,	PUNCT
cjfa-12567	3	15	poland	poland	PROPN
cjfa-12567	3	16	,	,	PUNCT
cjfa-12567	3	17	phone	phone	NOUN
cjfa-12567	3	18	:	:	PUNCT
cjfa-12567	3	19	+48	+48	NUM
cjfa-12567	3	20	607	607	NUM
cjfa-12567	3	21	552	552	NUM
cjfa-12567	3	22	226	226	NUM
cjfa-12567	3	23	.	.	PUNCT
cjfa-12567	4	1	nowak	nowak	PROPN
cjfa-12567	4	2	,	,	PUNCT
cjfa-12567	4	3	k.	k.	PROPN
cjfa-12567	4	4	(	(	PUNCT
cjfa-12567	4	5	2016	2016	NUM
cjfa-12567	4	6	)	)	PUNCT
cjfa-12567	4	7	.	.	PUNCT
cjfa-12567	5	1	implementation	implementation	NOUN
cjfa-12567	5	2	of	of	ADP
cjfa-12567	5	3	alternative	alternative	ADJ
cjfa-12567	5	4	index	index	NOUN
cjfa-12567	5	5	weighting	weighting	NOUN
cjfa-12567	5	6	to	to	ADP
cjfa-12567	5	7	warsaw	warsaw	PROPN
cjfa-12567	5	8	stock	stock	PROPN
cjfa-12567	5	9	exchange	exchange	PROPN
cjfa-12567	5	10	.	.	PUNCT
cjfa-12567	6	1	copernican	copernican	PROPN
cjfa-12567	6	2	journal	journal	PROPN
cjfa-12567	6	3	of	of	ADP
cjfa-12567	6	4	finance	finance	PROPN
cjfa-12567	6	5	&	&	CCONJ
cjfa-12567	6	6	accounting	accounting	PROPN
cjfa-12567	6	7	,	,	PUNCT
cjfa-12567	6	8	5(2	5(2	NUM
cjfa-12567	6	9	)	)	PUNCT
cjfa-12567	6	10	,	,	PUNCT
cjfa-12567	6	11	163–179	163–179	NUM
cjfa-12567	6	12	.	.	PUNCT
cjfa-12567	7	1	http://dx.doi.org/10.12775/	http://dx.doi.org/10.12775/	NOUN
cjfa-12567	7	2	cjfa.2016.021	cjfa.2016.021	PROPN
cjfa-12567	7	3	kamil	kamil	PROPN
cjfa-12567	7	4	nowak	nowak	PROPN
cjfa-12567	7	5	*	*	PROPN
cjfa-12567	7	6	nicolaus	nicolaus	PROPN
cjfa-12567	7	7	copernicus	copernicus	PROPN
cjfa-12567	7	8	university	university	PROPN
cjfa-12567	7	9	implementation	implementation	NOUN
cjfa-12567	7	10	of	of	ADP
cjfa-12567	7	11	alternative	alternative	ADJ
cjfa-12567	7	12	index	index	NOUN
cjfa-12567	7	13	weighting	weighting	NOUN
cjfa-12567	7	14	to	to	ADP
cjfa-12567	7	15	warsaw	warsaw	PROPN
cjfa-12567	7	16	stock	stock	PROPN
cjfa-12567	7	17	exchange	exchange	NOUN
cjfa-12567	7	18	keywords	keyword	NOUN
cjfa-12567	7	19	:	:	PUNCT
cjfa-12567	7	20	smart	smart	ADJ
cjfa-12567	7	21	beta	beta	NOUN
cjfa-12567	7	22	,	,	PUNCT
cjfa-12567	7	23	alternative	alternative	ADJ
cjfa-12567	7	24	indexing	indexing	NOUN
cjfa-12567	7	25	,	,	PUNCT
cjfa-12567	7	26	quantitative	quantitative	ADJ
cjfa-12567	7	27	weighting	weighting	NOUN
cjfa-12567	7	28	,	,	PUNCT
cjfa-12567	7	29	etf	etf	NOUN
cjfa-12567	7	30	.	.	PUNCT
cjfa-12567	8	1	j	j	PROPN
cjfa-12567	8	2	e	e	PROPN
cjfa-12567	8	3	l	l	PROPN
cjfa-12567	8	4	classification	classification	NOUN
cjfa-12567	8	5	:	:	PUNCT
cjfa-12567	9	1	g11	g11	NOUN
cjfa-12567	9	2	.	.	PUNCT
cjfa-12567	10	1	abstract	abstract	ADJ
cjfa-12567	10	2	:	:	PUNCT
cjfa-12567	10	3	exchange	exchange	NOUN
cjfa-12567	10	4	traded	trade	VERB
cjfa-12567	10	5	funds	fund	NOUN
cjfa-12567	10	6	are	be	AUX
cjfa-12567	10	7	the	the	DET
cjfa-12567	10	8	fastest	fast	ADJ
cjfa-12567	10	9	growing	grow	VERB
cjfa-12567	10	10	segment	segment	NOUN
cjfa-12567	10	11	of	of	ADP
cjfa-12567	10	12	investment	investment	NOUN
cjfa-12567	10	13	management	management	NOUN
cjfa-12567	10	14	business	business	NOUN
cjfa-12567	10	15	.	.	PUNCT
cjfa-12567	11	1	over	over	ADP
cjfa-12567	11	2	last	last	ADJ
cjfa-12567	11	3	eleven	eleven	NUM
cjfa-12567	11	4	years	year	NOUN
cjfa-12567	11	5	etf	etf	PROPN
cjfa-12567	11	6	’s	’s	PART
cjfa-12567	11	7	aum	aum	NOUN
cjfa-12567	11	8	grew	grow	VERB
cjfa-12567	11	9	over	over	ADP
cjfa-12567	11	10	2,000	2,000	NUM
cjfa-12567	11	11	%	%	NOUN
cjfa-12567	11	12	this	this	DET
cjfa-12567	11	13	paper	paper	NOUN
cjfa-12567	11	14	explores	explore	NOUN
cjfa-12567	11	15	growing	grow	VERB
cjfa-12567	11	16	popularity	popularity	NOUN
cjfa-12567	11	17	of	of	ADP
cjfa-12567	11	18	this	this	DET
cjfa-12567	11	19	investment	investment	NOUN
cjfa-12567	11	20	vehicle	vehicle	NOUN
cjfa-12567	11	21	and	and	CCONJ
cjfa-12567	11	22	getting	get	VERB
cjfa-12567	11	23	to	to	ADP
cjfa-12567	11	24	the	the	DET
cjfa-12567	11	25	genesis	genesis	NOUN
cjfa-12567	11	26	of	of	ADP
cjfa-12567	11	27	index	index	NOUN
cjfa-12567	11	28	tracking	tracking	NOUN
cjfa-12567	11	29	funds	fund	NOUN
cjfa-12567	11	30	and	and	CCONJ
cjfa-12567	11	31	to	to	ADP
cjfa-12567	11	32	the	the	DET
cjfa-12567	11	33	roots	root	NOUN
cjfa-12567	11	34	of	of	ADP
cjfa-12567	11	35	indexing	indexing	NOUN
cjfa-12567	11	36	,	,	PUNCT
cjfa-12567	11	37	bares	bare	NOUN
cjfa-12567	11	38	shortcomings	shortcoming	NOUN
cjfa-12567	11	39	of	of	ADP
cjfa-12567	11	40	most	most	ADJ
cjfa-12567	11	41	common	common	ADJ
cjfa-12567	11	42	weighting	weighting	NOUN
cjfa-12567	11	43	scheme	scheme	NOUN
cjfa-12567	11	44	–	–	PUNCT
cjfa-12567	11	45	capitalization	capitalization	NOUN
cjfa-12567	11	46	weighting	weighting	NOUN
cjfa-12567	11	47	.	.	PUNCT
cjfa-12567	12	1	those	those	DET
cjfa-12567	12	2	flaws	flaw	NOUN
cjfa-12567	12	3	caused	cause	VERB
cjfa-12567	12	4	the	the	DET
cjfa-12567	12	5	rise	rise	NOUN
cjfa-12567	12	6	of	of	ADP
cjfa-12567	12	7	quantitative	quantitative	ADJ
cjfa-12567	12	8	investing	investing	NOUN
cjfa-12567	12	9	.	.	PUNCT
cjfa-12567	13	1	the	the	DET
cjfa-12567	13	2	author	author	NOUN
cjfa-12567	13	3	reviews	review	VERB
cjfa-12567	13	4	the	the	DET
cjfa-12567	13	5	literature	literature	NOUN
cjfa-12567	13	6	in	in	ADP
cjfa-12567	13	7	search	search	NOUN
cjfa-12567	13	8	of	of	ADP
cjfa-12567	13	9	the	the	DET
cjfa-12567	13	10	most	most	ADV
cjfa-12567	13	11	relevant	relevant	ADJ
cjfa-12567	13	12	smart	smart	ADJ
cjfa-12567	13	13	beta	beta	NOUN
cjfa-12567	13	14	definition	definition	NOUN
cjfa-12567	13	15	and	and	CCONJ
cjfa-12567	13	16	the	the	DET
cjfa-12567	13	17	reasons	reason	NOUN
cjfa-12567	13	18	why	why	SCONJ
cjfa-12567	13	19	this	this	DET
cjfa-12567	13	20	new	new	ADJ
cjfa-12567	13	21	investment	investment	NOUN
cjfa-12567	13	22	concept	concept	NOUN
cjfa-12567	13	23	is	be	AUX
cjfa-12567	13	24	blooming	bloom	VERB
cjfa-12567	13	25	nowadays	nowadays	ADV
cjfa-12567	13	26	.	.	PUNCT
cjfa-12567	14	1	the	the	DET
cjfa-12567	14	2	substance	substance	NOUN
cjfa-12567	14	3	of	of	ADP
cjfa-12567	14	4	this	this	DET
cjfa-12567	14	5	paper	paper	NOUN
cjfa-12567	14	6	is	be	AUX
cjfa-12567	14	7	presentation	presentation	NOUN
cjfa-12567	14	8	of	of	ADP
cjfa-12567	14	9	most	most	ADV
cjfa-12567	14	10	popular	popular	ADJ
cjfa-12567	14	11	alternative	alternative	ADJ
cjfa-12567	14	12	weighting	weight	VERB
cjfa-12567	14	13	schemes	scheme	NOUN
cjfa-12567	14	14	and	and	CCONJ
cjfa-12567	14	15	exploration	exploration	NOUN
cjfa-12567	14	16	of	of	ADP
cjfa-12567	14	17	their	their	PRON
cjfa-12567	14	18	pros	pro	NOUN
cjfa-12567	14	19	and	and	CCONJ
cjfa-12567	14	20	cons	con	NOUN
cjfa-12567	14	21	by	by	ADP
cjfa-12567	14	22	implementing	implement	VERB
cjfa-12567	14	23	those	those	DET
cjfa-12567	14	24	solutions	solution	NOUN
cjfa-12567	14	25	to	to	PART
cjfa-12567	14	26	polish	polish	VERB
cjfa-12567	14	27	index	index	NOUN
cjfa-12567	14	28	wig20	wig20	PROPN
cjfa-12567	14	29	.	.	PUNCT
cjfa-12567	15	1	the	the	DET
cjfa-12567	15	2	impact	impact	NOUN
cjfa-12567	15	3	of	of	ADP
cjfa-12567	15	4	alternative	alternative	ADJ
cjfa-12567	15	5	weighting	weighting	NOUN
cjfa-12567	15	6	on	on	ADP
cjfa-12567	15	7	performance	performance	NOUN
cjfa-12567	15	8	of	of	ADP
cjfa-12567	15	9	the	the	DET
cjfa-12567	15	10	index	index	NOUN
cjfa-12567	15	11	and	and	CCONJ
cjfa-12567	15	12	its	its	PRON
cjfa-12567	15	13	features	feature	NOUN
cjfa-12567	15	14	has	have	AUX
cjfa-12567	15	15	been	be	AUX
cjfa-12567	15	16	synthesized	synthesize	VERB
cjfa-12567	15	17	and	and	CCONJ
cjfa-12567	15	18	evaluated	evaluate	VERB
cjfa-12567	15	19	.	.	PUNCT
cjfa-12567	16	1	in	in	ADP
cjfa-12567	16	2	the	the	DET
cjfa-12567	16	3	result	result	NOUN
cjfa-12567	16	4	of	of	ADP
cjfa-12567	16	5	this	this	DET
cjfa-12567	16	6	analyses	analysis	NOUN
cjfa-12567	16	7	and	and	CCONJ
cjfa-12567	16	8	comparison	comparison	NOUN
cjfa-12567	16	9	cap	cap	NOUN
cjfa-12567	16	10	-	-	PUNCT
cjfa-12567	16	11	weighted	weight	VERB
cjfa-12567	16	12	wig20	wig20	PROPN
cjfa-12567	16	13	turned	turn	VERB
cjfa-12567	16	14	out	out	ADP
cjfa-12567	16	15	to	to	PART
cjfa-12567	16	16	be	be	AUX
cjfa-12567	16	17	the	the	DET
cjfa-12567	16	18	less	less	ADV
cjfa-12567	16	19	effective	effective	ADJ
cjfa-12567	16	20	weighting	weighting	NOUN
cjfa-12567	16	21	scheme	scheme	NOUN
cjfa-12567	16	22	.	.	PUNCT
cjfa-12567	16	23	 	 	SPACE
cjfa-12567	17	1	introduction	introduction	NOUN
cjfa-12567	17	2	exchange	exchange	NOUN
cjfa-12567	17	3	traded	trade	VERB
cjfa-12567	17	4	funds	fund	NOUN
cjfa-12567	17	5	,	,	PUNCT
cjfa-12567	17	6	smart	smart	ADJ
cjfa-12567	17	7	beta	beta	ADJ
cjfa-12567	17	8	strategies	strategy	NOUN
cjfa-12567	17	9	,	,	PUNCT
cjfa-12567	17	10	alternative	alternative	ADJ
cjfa-12567	17	11	weighting	weight	VERB
cjfa-12567	17	12	schemes	scheme	NOUN
cjfa-12567	17	13	are	be	AUX
cjfa-12567	17	14	lately	lately	ADV
cjfa-12567	17	15	very	very	ADV
cjfa-12567	17	16	hot	hot	ADJ
cjfa-12567	17	17	topic	topic	NOUN
cjfa-12567	17	18	among	among	ADP
cjfa-12567	17	19	the	the	DET
cjfa-12567	17	20	economists	economist	NOUN
cjfa-12567	17	21	,	,	PUNCT
cjfa-12567	17	22	investors	investor	NOUN
cjfa-12567	17	23	and	and	CCONJ
cjfa-12567	17	24	asset	asset	NOUN
cjfa-12567	17	25	managers	manager	NOUN
cjfa-12567	17	26	.	.	PUNCT
cjfa-12567	18	1	growing	grow	VERB
cjfa-12567	18	2	popularity	popularity	NOUN
cjfa-12567	18	3	of	of	ADP
cjfa-12567	18	4	those	those	DET
cjfa-12567	18	5	new	new	ADJ
cjfa-12567	18	6	investment	investment	NOUN
cjfa-12567	18	7	vehicles	vehicle	NOUN
cjfa-12567	18	8	goes	go	VERB
cjfa-12567	18	9	along	along	ADV
cjfa-12567	18	10	with	with	ADP
cjfa-12567	18	11	growing	grow	VERB
cjfa-12567	18	12	kamil	kamil	PROPN
cjfa-12567	18	13	nowak164	nowak164	NOUN
cjfa-12567	18	14	number	number	NOUN
cjfa-12567	18	15	of	of	ADP
cjfa-12567	18	16	publications	publication	NOUN
cjfa-12567	18	17	praising	praise	VERB
cjfa-12567	18	18	or	or	CCONJ
cjfa-12567	18	19	pointing	point	VERB
cjfa-12567	18	20	the	the	DET
cjfa-12567	18	21	flaws	flaw	NOUN
cjfa-12567	18	22	of	of	ADP
cjfa-12567	18	23	new	new	ADJ
cjfa-12567	18	24	solutions	solution	NOUN
cjfa-12567	18	25	.	.	PUNCT
cjfa-12567	19	1	this	this	DET
cjfa-12567	19	2	paper	paper	NOUN
cjfa-12567	19	3	tries	try	VERB
cjfa-12567	19	4	to	to	PART
cjfa-12567	19	5	get	get	VERB
cjfa-12567	19	6	to	to	ADP
cjfa-12567	19	7	the	the	DET
cjfa-12567	19	8	roots	root	NOUN
cjfa-12567	19	9	of	of	ADP
cjfa-12567	19	10	this	this	DET
cjfa-12567	19	11	growing	grow	VERB
cjfa-12567	19	12	popularity	popularity	NOUN
cjfa-12567	19	13	and	and	CCONJ
cjfa-12567	19	14	find	find	VERB
cjfa-12567	19	15	the	the	DET
cjfa-12567	19	16	genesis	genesis	NOUN
cjfa-12567	19	17	of	of	ADP
cjfa-12567	19	18	alternative	alternative	ADJ
cjfa-12567	19	19	indexing	indexing	NOUN
cjfa-12567	19	20	.	.	PUNCT
cjfa-12567	20	1	the	the	DET
cjfa-12567	20	2	literature	literature	NOUN
cjfa-12567	20	3	presents	present	VERB
cjfa-12567	20	4	many	many	ADJ
cjfa-12567	20	5	weighting	weight	VERB
cjfa-12567	20	6	schemes	scheme	NOUN
cjfa-12567	20	7	but	but	CCONJ
cjfa-12567	20	8	which	which	PRON
cjfa-12567	20	9	of	of	ADP
cjfa-12567	20	10	them	they	PRON
cjfa-12567	20	11	are	be	AUX
cjfa-12567	20	12	worth	worth	ADJ
cjfa-12567	20	13	implementation	implementation	NOUN
cjfa-12567	20	14	?	?	PUNCT
cjfa-12567	21	1	reviewing	review	VERB
cjfa-12567	21	2	the	the	DET
cjfa-12567	21	3	publication	publication	NOUN
cjfa-12567	21	4	of	of	ADP
cjfa-12567	21	5	experts	expert	NOUN
cjfa-12567	21	6	like	like	ADP
cjfa-12567	21	7	arnott	arnott	PROPN
cjfa-12567	21	8	,	,	PUNCT
cjfa-12567	21	9	malkiel	malkiel	VERB
cjfa-12567	21	10	or	or	CCONJ
cjfa-12567	21	11	edhec	edhec	ADJ
cjfa-12567	21	12	-	-	PUNCT
cjfa-12567	21	13	risk	risk	NOUN
cjfa-12567	21	14	institute	institute	NOUN
cjfa-12567	21	15	,	,	PUNCT
cjfa-12567	21	16	four	four	NUM
cjfa-12567	21	17	major	major	ADJ
cjfa-12567	21	18	alternative	alternative	ADJ
cjfa-12567	21	19	schemes	scheme	NOUN
cjfa-12567	21	20	has	have	AUX
cjfa-12567	21	21	been	be	AUX
cjfa-12567	21	22	chosen	choose	VERB
cjfa-12567	21	23	to	to	PART
cjfa-12567	21	24	present	present	VERB
cjfa-12567	21	25	,	,	PUNCT
cjfa-12567	21	26	implement	implement	VERB
cjfa-12567	21	27	and	and	CCONJ
cjfa-12567	21	28	evaluate	evaluate	VERB
cjfa-12567	21	29	.	.	PUNCT
cjfa-12567	22	1	whether	whether	SCONJ
cjfa-12567	22	2	smart	smart	ADJ
cjfa-12567	22	3	beta	beta	NOUN
cjfa-12567	22	4	is	be	AUX
cjfa-12567	22	5	a	a	DET
cjfa-12567	22	6	revolutionary	revolutionary	ADJ
cjfa-12567	22	7	new	new	ADJ
cjfa-12567	22	8	concept	concept	NOUN
cjfa-12567	22	9	or	or	CCONJ
cjfa-12567	22	10	just	just	ADV
cjfa-12567	22	11	a	a	DET
cjfa-12567	22	12	new	new	ADJ
cjfa-12567	22	13	wine	wine	NOUN
cjfa-12567	22	14	in	in	ADP
cjfa-12567	22	15	old	old	ADJ
cjfa-12567	22	16	bottles	bottle	NOUN
cjfa-12567	22	17	,	,	PUNCT
cjfa-12567	22	18	we	we	PRON
cjfa-12567	22	19	can	can	AUX
cjfa-12567	22	20	observe	observe	VERB
cjfa-12567	22	21	those	those	DET
cjfa-12567	22	22	strategies	strategy	NOUN
cjfa-12567	22	23	booming	boom	VERB
cjfa-12567	22	24	right	right	ADV
cjfa-12567	22	25	now	now	ADV
cjfa-12567	22	26	.	.	PUNCT
cjfa-12567	23	1	almost	almost	ADV
cjfa-12567	23	2	every	every	PRON
cjfa-12567	23	3	major	major	ADJ
cjfa-12567	23	4	asset	asset	NOUN
cjfa-12567	23	5	management	management	NOUN
cjfa-12567	23	6	company	company	NOUN
cjfa-12567	23	7	launched	launch	VERB
cjfa-12567	23	8	their	their	PRON
cjfa-12567	23	9	own	own	ADJ
cjfa-12567	23	10	smart	smart	ADJ
cjfa-12567	23	11	beta	beta	NOUN
cjfa-12567	23	12	etfs	etfs	NOUN
cjfa-12567	23	13	.	.	PUNCT
cjfa-12567	24	1	is	be	AUX
cjfa-12567	24	2	it	it	PRON
cjfa-12567	24	3	just	just	ADV
cjfa-12567	24	4	the	the	DET
cjfa-12567	24	5	marketing	marketing	NOUN
cjfa-12567	24	6	gimmick	gimmick	NOUN
cjfa-12567	24	7	or	or	CCONJ
cjfa-12567	24	8	those	those	DET
cjfa-12567	24	9	alternatives	alternative	NOUN
cjfa-12567	24	10	have	have	VERB
cjfa-12567	24	11	more	more	ADJ
cjfa-12567	24	12	to	to	PART
cjfa-12567	24	13	offer	offer	VERB
cjfa-12567	24	14	to	to	ADP
cjfa-12567	24	15	the	the	DET
cjfa-12567	24	16	investors	investor	NOUN
cjfa-12567	24	17	than	than	ADP
cjfa-12567	24	18	just	just	ADV
cjfa-12567	24	19	a	a	DET
cjfa-12567	24	20	hype	hype	NOUN
cjfa-12567	24	21	?	?	PUNCT
cjfa-12567	25	1	the	the	DET
cjfa-12567	25	2	purpose	purpose	NOUN
cjfa-12567	25	3	of	of	ADP
cjfa-12567	25	4	this	this	DET
cjfa-12567	25	5	study	study	NOUN
cjfa-12567	25	6	is	be	AUX
cjfa-12567	25	7	an	an	DET
cjfa-12567	25	8	attempt	attempt	NOUN
cjfa-12567	25	9	to	to	PART
cjfa-12567	25	10	answer	answer	VERB
cjfa-12567	25	11	those	those	DET
cjfa-12567	25	12	questions	question	NOUN
cjfa-12567	25	13	by	by	ADP
cjfa-12567	25	14	implementing	implement	VERB
cjfa-12567	25	15	new	new	ADJ
cjfa-12567	25	16	weighting	weighting	NOUN
cjfa-12567	25	17	schemes	scheme	NOUN
cjfa-12567	25	18	to	to	ADP
cjfa-12567	25	19	polish	polish	VERB
cjfa-12567	25	20	index	index	NOUN
cjfa-12567	25	21	wig20	wig20	PROPN
cjfa-12567	25	22	and	and	CCONJ
cjfa-12567	25	23	comparison	comparison	NOUN
cjfa-12567	25	24	with	with	ADP
cjfa-12567	25	25	traditional	traditional	ADJ
cjfa-12567	25	26	cap	cap	NOUN
cjfa-12567	25	27	-	-	PUNCT
cjfa-12567	25	28	weighted	weight	VERB
cjfa-12567	25	29	approach	approach	NOUN
cjfa-12567	25	30	.	.	PUNCT
cjfa-12567	26	1	the	the	DET
cjfa-12567	26	2	research	research	NOUN
cjfa-12567	26	3	methodology	methodology	NOUN
cjfa-12567	26	4	and	and	CCONJ
cjfa-12567	26	5	the	the	DET
cjfa-12567	26	6	course	course	NOUN
cjfa-12567	26	7	of	of	ADP
cjfa-12567	26	8	the	the	DET
cjfa-12567	26	9	research	research	NOUN
cjfa-12567	26	10	process	process	NOUN
cjfa-12567	26	11	the	the	DET
cjfa-12567	26	12	paper	paper	NOUN
cjfa-12567	26	13	contains	contain	VERB
cjfa-12567	26	14	empirical	empirical	ADJ
cjfa-12567	26	15	analysis	analysis	NOUN
cjfa-12567	26	16	and	and	CCONJ
cjfa-12567	26	17	descriptive	descriptive	ADJ
cjfa-12567	26	18	research	research	NOUN
cjfa-12567	26	19	studies	study	NOUN
cjfa-12567	26	20	carried	carry	VERB
cjfa-12567	26	21	out	out	ADP
cjfa-12567	26	22	in	in	ADP
cjfa-12567	26	23	several	several	ADJ
cjfa-12567	26	24	steps	step	NOUN
cjfa-12567	26	25	.	.	PUNCT
cjfa-12567	27	1	first	first	ADJ
cjfa-12567	27	2	step	step	NOUN
cjfa-12567	27	3	looks	look	VERB
cjfa-12567	27	4	into	into	ADP
cjfa-12567	27	5	growing	grow	VERB
cjfa-12567	27	6	popularity	popularity	NOUN
cjfa-12567	27	7	of	of	ADP
cjfa-12567	27	8	etfs	etfs	PROPN
cjfa-12567	27	9	and	and	CCONJ
cjfa-12567	27	10	genesis	genesis	NOUN
cjfa-12567	27	11	of	of	ADP
cjfa-12567	27	12	indexing	indexing	NOUN
cjfa-12567	27	13	.	.	PUNCT
cjfa-12567	28	1	than	than	SCONJ
cjfa-12567	28	2	reviewing	review	VERB
cjfa-12567	28	3	the	the	DET
cjfa-12567	28	4	literature	literature	NOUN
cjfa-12567	28	5	defines	define	VERB
cjfa-12567	28	6	smart	smart	ADJ
cjfa-12567	28	7	beta	beta	NOUN
cjfa-12567	28	8	and	and	CCONJ
cjfa-12567	28	9	describes	describe	VERB
cjfa-12567	28	10	quantitative	quantitative	ADJ
cjfa-12567	28	11	investing	investing	NOUN
cjfa-12567	28	12	.	.	PUNCT
cjfa-12567	29	1	finally	finally	ADV
cjfa-12567	29	2	,	,	PUNCT
cjfa-12567	29	3	paper	paper	NOUN
cjfa-12567	29	4	focuses	focus	VERB
cjfa-12567	29	5	on	on	ADP
cjfa-12567	29	6	implementation	implementation	NOUN
cjfa-12567	29	7	of	of	ADP
cjfa-12567	29	8	alternative	alternative	ADJ
cjfa-12567	29	9	weighting	weight	VERB
cjfa-12567	29	10	schemes	scheme	NOUN
cjfa-12567	29	11	to	to	AUX
cjfa-12567	29	12	wig20	wig20	PROPN
cjfa-12567	29	13	index	index	NOUN
cjfa-12567	29	14	.	.	PUNCT
cjfa-12567	30	1	given	give	VERB
cjfa-12567	30	2	the	the	DET
cjfa-12567	30	3	results	result	NOUN
cjfa-12567	30	4	of	of	ADP
cjfa-12567	30	5	the	the	DET
cjfa-12567	30	6	prior	prior	ADJ
cjfa-12567	30	7	studies	study	NOUN
cjfa-12567	30	8	,	,	PUNCT
cjfa-12567	30	9	the	the	DET
cjfa-12567	30	10	following	follow	VERB
cjfa-12567	30	11	hypothesis	hypothesis	NOUN
cjfa-12567	30	12	was	be	AUX
cjfa-12567	30	13	formulated	formulate	VERB
cjfa-12567	30	14	:	:	PUNCT
cjfa-12567	30	15	hypothesis	hypothesis	NOUN
cjfa-12567	30	16	1	1	NUM
cjfa-12567	30	17	.	.	PUNCT
cjfa-12567	30	18	:	:	PUNCT
cjfa-12567	31	1	implementation	implementation	NOUN
cjfa-12567	31	2	of	of	ADP
cjfa-12567	31	3	alternative	alternative	ADJ
cjfa-12567	31	4	weighting	weight	VERB
cjfa-12567	31	5	schemes	scheme	NOUN
cjfa-12567	31	6	to	to	ADP
cjfa-12567	31	7	warsaw	warsaw	PROPN
cjfa-12567	31	8	stock	stock	PROPN
cjfa-12567	31	9	exchange	exchange	NOUN
cjfa-12567	31	10	may	may	AUX
cjfa-12567	31	11	improve	improve	VERB
cjfa-12567	31	12	index	index	NOUN
cjfa-12567	31	13	’s	’s	PART
cjfa-12567	31	14	performance	performance	NOUN
cjfa-12567	31	15	.	.	PUNCT
cjfa-12567	32	1	gpw	gpw	PROPN
cjfa-12567	32	2	database	database	NOUN
cjfa-12567	32	3	has	have	AUX
cjfa-12567	32	4	been	be	AUX
cjfa-12567	32	5	used	use	VERB
cjfa-12567	32	6	to	to	PART
cjfa-12567	32	7	find	find	VERB
cjfa-12567	32	8	the	the	DET
cjfa-12567	32	9	monthly	monthly	ADJ
cjfa-12567	32	10	mean	mean	NOUN
cjfa-12567	32	11	return	return	NOUN
cjfa-12567	32	12	rates	rate	NOUN
cjfa-12567	32	13	of	of	ADP
cjfa-12567	32	14	wig	wig	NOUN
cjfa-12567	32	15	20	20	NUM
cjfa-12567	32	16	components	component	NOUN
cjfa-12567	32	17	.	.	PUNCT
cjfa-12567	33	1	43	43	NUM
cjfa-12567	33	2	months	month	NOUN
cjfa-12567	33	3	period	period	NOUN
cjfa-12567	33	4	(	(	PUNCT
cjfa-12567	33	5	since	since	SCONJ
cjfa-12567	33	6	january	january	PROPN
cjfa-12567	33	7	of	of	ADP
cjfa-12567	33	8	2013	2013	NUM
cjfa-12567	33	9	)	)	PUNCT
cjfa-12567	33	10	has	have	AUX
cjfa-12567	33	11	been	be	AUX
cjfa-12567	33	12	analyzed	analyze	VERB
cjfa-12567	33	13	.	.	PUNCT
cjfa-12567	34	1	author	author	NOUN
cjfa-12567	34	2	calculated	calculate	VERB
cjfa-12567	34	3	covariance	covariance	NOUN
cjfa-12567	34	4	matrix	matrix	NOUN
cjfa-12567	34	5	,	,	PUNCT
cjfa-12567	34	6	sharpe	sharpe	NOUN
cjfa-12567	34	7	ratio	ratio	NOUN
cjfa-12567	34	8	,	,	PUNCT
cjfa-12567	34	9	correlation	correlation	NOUN
cjfa-12567	34	10	matrix	matrix	NOUN
cjfa-12567	34	11	and	and	CCONJ
cjfa-12567	34	12	standard	standard	ADJ
cjfa-12567	34	13	deviation	deviation	NOUN
cjfa-12567	34	14	of	of	ADP
cjfa-12567	34	15	the	the	DET
cjfa-12567	34	16	portfolios	portfolio	NOUN
cjfa-12567	34	17	using	use	VERB
cjfa-12567	34	18	microsoft	microsoft	PROPN
cjfa-12567	34	19	excel	excel	PROPN
cjfa-12567	34	20	sheet	sheet	NOUN
cjfa-12567	34	21	.	.	PUNCT
cjfa-12567	35	1	than	than	ADP
cjfa-12567	35	2	depending	depend	VERB
cjfa-12567	35	3	on	on	ADP
cjfa-12567	35	4	the	the	DET
cjfa-12567	35	5	weighting	weighting	NOUN
cjfa-12567	35	6	scheme	scheme	NOUN
cjfa-12567	35	7	the	the	DET
cjfa-12567	35	8	allocations	allocation	NOUN
cjfa-12567	35	9	has	have	AUX
cjfa-12567	35	10	been	be	AUX
cjfa-12567	35	11	optimized	optimize	VERB
cjfa-12567	35	12	using	use	VERB
cjfa-12567	35	13	solver	solver	VERB
cjfa-12567	35	14	function	function	NOUN
cjfa-12567	35	15	.	.	PUNCT
cjfa-12567	36	1	created	create	VERB
cjfa-12567	36	2	indices	index	NOUN
cjfa-12567	36	3	has	have	AUX
cjfa-12567	36	4	been	be	AUX
cjfa-12567	36	5	simply	simply	ADV
cjfa-12567	36	6	evaluated	evaluate	VERB
cjfa-12567	36	7	,	,	PUNCT
cjfa-12567	36	8	by	by	ADP
cjfa-12567	36	9	short	short	ADJ
cjfa-12567	36	10	term	term	NOUN
cjfa-12567	36	11	performance	performance	NOUN
cjfa-12567	36	12	comparison	comparison	NOUN
cjfa-12567	36	13	and	and	CCONJ
cjfa-12567	36	14	described	describe	VERB
cjfa-12567	36	15	,	,	PUNCT
cjfa-12567	36	16	by	by	ADP
cjfa-12567	36	17	emphasizing	emphasize	VERB
cjfa-12567	36	18	their	their	PRON
cjfa-12567	36	19	specific	specific	ADJ
cjfa-12567	36	20	features	feature	NOUN
cjfa-12567	36	21	.	.	PUNCT
cjfa-12567	37	1	the	the	DET
cjfa-12567	37	2	study	study	NOUN
cjfa-12567	37	3	ends	end	VERB
cjfa-12567	37	4	with	with	ADP
cjfa-12567	37	5	conclusions	conclusion	NOUN
cjfa-12567	37	6	achieved	achieve	VERB
cjfa-12567	37	7	by	by	ADP
cjfa-12567	37	8	literature	literature	NOUN
cjfa-12567	37	9	review	review	NOUN
cjfa-12567	37	10	and	and	CCONJ
cjfa-12567	37	11	analysis	analysis	NOUN
cjfa-12567	37	12	of	of	ADP
cjfa-12567	37	13	created	create	VERB
cjfa-12567	37	14	portfolios	portfolio	NOUN
cjfa-12567	37	15	.	.	PUNCT
cjfa-12567	38	1	implementation	implementation	NOUN
cjfa-12567	38	2	of	of	ADP
cjfa-12567	38	3	alternative	alternative	ADJ
cjfa-12567	38	4	index	index	NOUN
cjfa-12567	38	5	weighting	weighting	NOUN
cjfa-12567	38	6	…	…	PUNCT
cjfa-12567	38	7	165	165	NUM
cjfa-12567	38	8	growing	grow	VERB
cjfa-12567	38	9	popularity	popularity	NOUN
cjfa-12567	38	10	of	of	ADP
cjfa-12567	38	11	etf	etf	NOUN
cjfa-12567	38	12	’s	’s	PART
cjfa-12567	38	13	exchange	exchange	NOUN
cjfa-12567	38	14	traded	trade	VERB
cjfa-12567	38	15	funds	fund	NOUN
cjfa-12567	38	16	have	have	AUX
cjfa-12567	38	17	been	be	AUX
cjfa-12567	38	18	introduced	introduce	VERB
cjfa-12567	38	19	26	26	NUM
cjfa-12567	38	20	years	year	NOUN
cjfa-12567	38	21	ago	ago	ADV
cjfa-12567	38	22	.	.	PUNCT
cjfa-12567	39	1	in	in	ADP
cjfa-12567	39	2	that	that	DET
cjfa-12567	39	3	time	time	NOUN
cjfa-12567	39	4	etfs	etfs	PROPN
cjfa-12567	39	5	evolved	evolve	VERB
cjfa-12567	39	6	from	from	ADP
cjfa-12567	39	7	rather	rather	ADV
cjfa-12567	39	8	niche	niche	NOUN
cjfa-12567	39	9	investment	investment	NOUN
cjfa-12567	39	10	vehicles	vehicle	NOUN
cjfa-12567	39	11	to	to	ADP
cjfa-12567	39	12	the	the	DET
cjfa-12567	39	13	fastest	fast	ADJ
cjfa-12567	39	14	growing	grow	VERB
cjfa-12567	39	15	segment	segment	NOUN
cjfa-12567	39	16	of	of	ADP
cjfa-12567	39	17	investment	investment	NOUN
cjfa-12567	39	18	management	management	NOUN
cjfa-12567	39	19	business	business	NOUN
cjfa-12567	39	20	.	.	PUNCT
cjfa-12567	40	1	nowadays	nowadays	ADV
cjfa-12567	40	2	they	they	PRON
cjfa-12567	40	3	are	be	AUX
cjfa-12567	40	4	highly	highly	ADV
cjfa-12567	40	5	appreciated	appreciated	ADJ
cjfa-12567	40	6	by	by	ADP
cjfa-12567	40	7	financial	financial	ADJ
cjfa-12567	40	8	advisors	advisor	NOUN
cjfa-12567	40	9	,	,	PUNCT
cjfa-12567	40	10	investment	investment	NOUN
cjfa-12567	40	11	managers	manager	NOUN
cjfa-12567	40	12	and	and	CCONJ
cjfa-12567	40	13	asset	asset	NOUN
cjfa-12567	40	14	owners	owner	NOUN
cjfa-12567	40	15	.	.	PUNCT
cjfa-12567	41	1	etfs	etfs	PROPN
cjfa-12567	41	2	became	become	VERB
cjfa-12567	41	3	even	even	ADV
cjfa-12567	41	4	core	core	ADJ
cjfa-12567	41	5	holdings	holding	NOUN
cjfa-12567	41	6	for	for	ADP
cjfa-12567	41	7	some	some	DET
cjfa-12567	41	8	open	open	ADJ
cjfa-12567	41	9	ended	end	VERB
cjfa-12567	41	10	investment	investment	NOUN
cjfa-12567	41	11	funds	fund	NOUN
cjfa-12567	41	12	.	.	PUNCT
cjfa-12567	42	1	their	their	PRON
cjfa-12567	42	2	advantages	advantage	NOUN
cjfa-12567	42	3	and	and	CCONJ
cjfa-12567	42	4	simplicity	simplicity	NOUN
cjfa-12567	42	5	made	make	VERB
cjfa-12567	42	6	them	they	PRON
cjfa-12567	42	7	a	a	DET
cjfa-12567	42	8	powerful	powerful	ADJ
cjfa-12567	42	9	tool	tool	NOUN
cjfa-12567	42	10	for	for	ADP
cjfa-12567	42	11	almost	almost	ADV
cjfa-12567	42	12	every	every	PRON
cjfa-12567	42	13	portfolio	portfolio	NOUN
cjfa-12567	42	14	management	management	NOUN
cjfa-12567	42	15	strategy	strategy	NOUN
cjfa-12567	42	16	.	.	PUNCT
cjfa-12567	43	1	as	as	SCONJ
cjfa-12567	43	2	can	can	AUX
cjfa-12567	43	3	be	be	AUX
cjfa-12567	43	4	seen	see	VERB
cjfa-12567	43	5	on	on	ADP
cjfa-12567	43	6	figure	figure	NOUN
cjfa-12567	43	7	1	1	NUM
cjfa-12567	43	8	etf	etf	NOUN
cjfa-12567	43	9	’s	’s	PART
cjfa-12567	43	10	aum	aum	NOUN
cjfa-12567	43	11	grew	grow	VERB
cjfa-12567	43	12	rapidly	rapidly	ADV
cjfa-12567	43	13	over	over	ADP
cjfa-12567	43	14	the	the	DET
cjfa-12567	43	15	last	last	ADJ
cjfa-12567	43	16	eleven	eleven	NUM
cjfa-12567	43	17	years	year	NOUN
cjfa-12567	43	18	.	.	PUNCT
cjfa-12567	44	1	from	from	ADP
cjfa-12567	44	2	only	only	ADV
cjfa-12567	44	3	416	416	NUM
cjfa-12567	44	4	us$	us$	SYM
cjfa-12567	44	5	bn	bn	NOUN
cjfa-12567	44	6	to	to	ADP
cjfa-12567	44	7	nearly	nearly	ADV
cjfa-12567	44	8	3,000	3,000	NUM
cjfa-12567	44	9	us$	us$	SYM
cjfa-12567	44	10	bn	bn	NOUN
cjfa-12567	44	11	.	.	PUNCT
cjfa-12567	44	12	figure	figure	NOUN
cjfa-12567	44	13	1	1	NUM
cjfa-12567	44	14	.	.	PUNCT
cjfa-12567	44	15	global	global	ADJ
cjfa-12567	44	16	etf	etf	NOUN
cjfa-12567	44	17	growth	growth	NOUN
cjfa-12567	44	18	2005–2016	2005–2016	NUM
cjfa-12567	44	19	every	every	DET
cjfa-12567	44	20	portfolio	portfolio	NOUN
cjfa-12567	44	21	management	management	NOUN
cjfa-12567	44	22	strategy	strategy	NOUN
cjfa-12567	44	23	.	.	PUNCT
cjfa-12567	45	1	as	as	SCONJ
cjfa-12567	45	2	can	can	AUX
cjfa-12567	45	3	be	be	AUX
cjfa-12567	45	4	seen	see	VERB
cjfa-12567	45	5	on	on	ADP
cjfa-12567	45	6	figure	figure	NOUN
cjfa-12567	45	7	1	1	NUM
cjfa-12567	45	8	etf	etf	NOUN
cjfa-12567	45	9	’s	’s	PART
cjfa-12567	45	10	aum	aum	NOUN
cjfa-12567	45	11	grew	grow	VERB
cjfa-12567	45	12	rapidly	rapidly	ADV
cjfa-12567	45	13	over	over	ADP
cjfa-12567	45	14	the	the	DET
cjfa-12567	45	15	last	last	ADJ
cjfa-12567	45	16	eleven	eleven	NUM
cjfa-12567	45	17	years	year	NOUN
cjfa-12567	45	18	.	.	PUNCT
cjfa-12567	46	1	from	from	ADP
cjfa-12567	46	2	only	only	ADV
cjfa-12567	46	3	416	416	NUM
cjfa-12567	46	4	us$	us$	SYM
cjfa-12567	46	5	bn	bn	NOUN
cjfa-12567	46	6	to	to	ADP
cjfa-12567	46	7	nearly	nearly	ADV
cjfa-12567	46	8	3,000	3,000	NUM
cjfa-12567	46	9	us$	us$	SYM
cjfa-12567	46	10	bn	bn	NOUN
cjfa-12567	46	11	.	.	PUNCT
cjfa-12567	46	12	figure	figure	NOUN
cjfa-12567	46	13	1	1	NUM
cjfa-12567	46	14	.	.	PUNCT
cjfa-12567	46	15	global	global	ADJ
cjfa-12567	46	16	etf	etf	NOUN
cjfa-12567	46	17	growth	growth	NOUN
cjfa-12567	46	18	2005	2005	NUM
cjfa-12567	46	19	-	-	SYM
cjfa-12567	46	20	2016	2016	NUM
cjfa-12567	46	21	source	source	NOUN
cjfa-12567	46	22	:	:	PUNCT
cjfa-12567	46	23	http://www.etfgi.com/.	http://www.etfgi.com/.	PRON
cjfa-12567	46	24	figure	figure	NOUN
cjfa-12567	46	25	2	2	NUM
cjfa-12567	46	26	shows	show	VERB
cjfa-12567	46	27	how	how	SCONJ
cjfa-12567	46	28	etf	etf	NOUN
cjfa-12567	46	29	business	business	NOUN
cjfa-12567	46	30	expanded	expand	VERB
cjfa-12567	46	31	over	over	ADP
cjfa-12567	46	32	the	the	DET
cjfa-12567	46	33	past	past	ADJ
cjfa-12567	46	34	years	year	NOUN
cjfa-12567	46	35	.	.	PUNCT
cjfa-12567	47	1	aum	aum	PROPN
cjfa-12567	47	2	grew	grow	VERB
cjfa-12567	47	3	over	over	ADP
cjfa-12567	47	4	2,000	2,000	NUM
cjfa-12567	47	5	%	%	NOUN
cjfa-12567	47	6	mutual	mutual	ADJ
cjfa-12567	47	7	fund	fund	NOUN
cjfa-12567	47	8	growth	growth	NOUN
cjfa-12567	47	9	comparing	compare	VERB
cjfa-12567	47	10	to	to	ADP
cjfa-12567	47	11	etf	etf	NOUN
cjfa-12567	47	12	’s	’s	PART
cjfa-12567	47	13	is	be	AUX
cjfa-12567	47	14	dramatically	dramatically	ADV
cjfa-12567	47	15	lower	low	ADJ
cjfa-12567	47	16	.	.	PUNCT
cjfa-12567	48	1	120	120	NUM
cjfa-12567	48	2	%	%	NOUN
cjfa-12567	48	3	aum	aum	NOUN
cjfa-12567	48	4	increase	increase	NOUN
cjfa-12567	48	5	over	over	ADP
cjfa-12567	48	6	thirteen	thirteen	NUM
cjfa-12567	48	7	years	year	NOUN
cjfa-12567	48	8	can	can	AUX
cjfa-12567	48	9	be	be	AUX
cjfa-12567	48	10	explained	explain	VERB
cjfa-12567	48	11	only	only	ADV
cjfa-12567	48	12	by	by	ADP
cjfa-12567	48	13	much	much	ADV
cjfa-12567	48	14	older	old	ADJ
cjfa-12567	48	15	and	and	CCONJ
cjfa-12567	48	16	stable	stable	ADJ
cjfa-12567	48	17	industry	industry	NOUN
cjfa-12567	48	18	.	.	PUNCT
cjfa-12567	49	1	however	however	ADV
cjfa-12567	49	2	,	,	PUNCT
cjfa-12567	49	3	etfs	etfs	PROPN
cjfa-12567	49	4	are	be	AUX
cjfa-12567	49	5	becoming	become	VERB
cjfa-12567	49	6	serious	serious	ADJ
cjfa-12567	49	7	competitors	competitor	NOUN
cjfa-12567	49	8	in	in	ADP
cjfa-12567	49	9	such	such	DET
cjfa-12567	49	10	a	a	DET
cjfa-12567	49	11	saturated	saturated	ADJ
cjfa-12567	49	12	market	market	NOUN
cjfa-12567	49	13	.	.	PUNCT
cjfa-12567	50	1	figure	figure	NOUN
cjfa-12567	50	2	1	1	NUM
cjfa-12567	50	3	.	.	PUNCT
cjfa-12567	51	1	etf	etf	NOUN
cjfa-12567	51	2	vs	vs	ADP
cjfa-12567	51	3	mutual	mutual	ADJ
cjfa-12567	51	4	fund	fund	NOUN
cjfa-12567	51	5	growth	growth	NOUN
cjfa-12567	51	6	(	(	PUNCT
cjfa-12567	51	7	percentage	percentage	NOUN
cjfa-12567	51	8	in	in	ADP
cjfa-12567	51	9	assets	asset	NOUN
cjfa-12567	51	10	since	since	SCONJ
cjfa-12567	51	11	2001	2001	NUM
cjfa-12567	51	12	)	)	PUNCT
cjfa-12567	51	13	source	source	NOUN
cjfa-12567	51	14	:	:	PUNCT
cjfa-12567	51	15	http://etfdb.com	http://etfdb.com	X
cjfa-12567	51	16	.	.	PUNCT
cjfa-12567	52	1	where	where	SCONJ
cjfa-12567	52	2	does	do	AUX
cjfa-12567	52	3	that	that	DET
cjfa-12567	52	4	growing	grow	VERB
cjfa-12567	52	5	popularity	popularity	NOUN
cjfa-12567	52	6	come	come	VERB
cjfa-12567	52	7	from	from	ADP
cjfa-12567	52	8	?	?	PUNCT
cjfa-12567	53	1	etf	etf	NOUN
cjfa-12567	53	2	’s	’s	PART
cjfa-12567	53	3	features	feature	NOUN
cjfa-12567	53	4	,	,	PUNCT
cjfa-12567	53	5	significantly	significantly	ADV
cjfa-12567	53	6	different	different	ADJ
cjfa-12567	53	7	than	than	SCONJ
cjfa-12567	53	8	earlier	early	ADJ
cjfa-12567	53	9	investment	investment	NOUN
cjfa-12567	53	10	products	product	NOUN
cjfa-12567	53	11	provides	provide	VERB
cjfa-12567	53	12	broad	broad	ADJ
cjfa-12567	53	13	range	range	NOUN
cjfa-12567	53	14	of	of	ADP
cjfa-12567	53	15	advantages	advantage	NOUN
cjfa-12567	53	16	over	over	ADP
cjfa-12567	53	17	other	other	ADJ
cjfa-12567	53	18	investment	investment	NOUN
cjfa-12567	53	19	vehicles	vehicle	NOUN
cjfa-12567	53	20	:	:	PUNCT
cjfa-12567	53	21	0	0	NUM
cjfa-12567	53	22	500	500	NUM
cjfa-12567	53	23	1000	1000	NUM
cjfa-12567	53	24	1500	1500	NUM
cjfa-12567	53	25	2000	2000	NUM
cjfa-12567	53	26	2500	2500	NUM
cjfa-12567	53	27	3000	3000	NUM
cjfa-12567	53	28	2005	2005	NUM
cjfa-12567	53	29	2006	2006	NUM
cjfa-12567	53	30	2007	2007	NUM
cjfa-12567	53	31	2008	2008	NUM
cjfa-12567	53	32	2009	2009	NUM
cjfa-12567	53	33	2010	2010	NUM
cjfa-12567	53	34	2011	2011	NUM
cjfa-12567	53	35	2012	2012	NUM
cjfa-12567	53	36	2013	2013	NUM
cjfa-12567	53	37	2014	2014	NUM
cjfa-12567	53	38	2015	2015	NUM
cjfa-12567	53	39	2016	2016	NUM
cjfa-12567	53	40	416	416	NUM
cjfa-12567	53	41	580	580	NUM
cjfa-12567	53	42	807	807	NUM
cjfa-12567	53	43	716	716	NUM
cjfa-12567	53	44	1041	1041	NUM
cjfa-12567	53	45	1313	1313	NUM
cjfa-12567	53	46	1355	1355	NUM
cjfa-12567	53	47	1754	1754	NUM
cjfa-12567	53	48	2254	2254	NUM
cjfa-12567	53	49	2649	2649	NUM
cjfa-12567	53	50	2874	2874	NUM
cjfa-12567	53	51	2996assets	2996asset	NOUN
cjfa-12567	53	52	(	(	PUNCT
cjfa-12567	53	53	us$	us$	SYM
cjfa-12567	53	54	bn	bn	NOUN
cjfa-12567	53	55	)	)	PUNCT
cjfa-12567	53	56	0	0	NUM
cjfa-12567	53	57	%	%	NOUN
cjfa-12567	53	58	23	23	NUM
cjfa-12567	53	59	%	%	NOUN
cjfa-12567	53	60	82	82	NUM
cjfa-12567	53	61	%	%	NOUN
cjfa-12567	53	62	175	175	NUM
cjfa-12567	53	63	%	%	NOUN
cjfa-12567	53	64	263	263	NUM
cjfa-12567	53	65	%	%	NOUN
cjfa-12567	53	66	410	410	NUM
cjfa-12567	53	67	%	%	NOUN
cjfa-12567	53	68	633	633	NUM
cjfa-12567	53	69	%	%	NOUN
cjfa-12567	53	70	540	540	NUM
cjfa-12567	53	71	%	%	NOUN
cjfa-12567	53	72	836	836	NUM
cjfa-12567	53	73	%	%	NOUN
cjfa-12567	53	74	1095%1163	1095%1163	NUM
cjfa-12567	53	75	%	%	NOUN
cjfa-12567	53	76	1511	1511	NUM
cjfa-12567	53	77	%	%	NOUN
cjfa-12567	53	78	1918	1918	NUM
cjfa-12567	53	79	%	%	NOUN
cjfa-12567	53	80	2279	2279	NUM
cjfa-12567	53	81	%	%	NOUN
cjfa-12567	53	82	0	0	NUM
cjfa-12567	53	83	%	%	NOUN
cjfa-12567	53	84	-8	-8	ADJ
cjfa-12567	53	85	%	%	NOUN
cjfa-12567	53	86	6	6	NUM
cjfa-12567	53	87	%	%	NOUN
cjfa-12567	53	88	16	16	NUM
cjfa-12567	53	89	%	%	NOUN
cjfa-12567	53	90	27	27	NUM
cjfa-12567	53	91	%	%	NOUN
cjfa-12567	53	92	49	49	NUM
cjfa-12567	53	93	%	%	NOUN
cjfa-12567	53	94	72	72	NUM
cjfa-12567	53	95	%	%	NOUN
cjfa-12567	53	96	38	38	NUM
cjfa-12567	53	97	%	%	NOUN
cjfa-12567	53	98	59	59	NUM
cjfa-12567	53	99	%	%	NOUN
cjfa-12567	53	100	70	70	NUM
cjfa-12567	53	101	%	%	NOUN
cjfa-12567	53	102	67	67	NUM
cjfa-12567	53	103	%	%	NOUN
cjfa-12567	53	104	87	87	NUM
cjfa-12567	53	105	%	%	NOUN
cjfa-12567	53	106	115	115	NUM
cjfa-12567	53	107	%	%	NOUN
cjfa-12567	53	108	127	127	NUM
cjfa-12567	53	109	%	%	NOUN
cjfa-12567	53	110	-500	-500	NUM
cjfa-12567	53	111	%	%	NOUN
cjfa-12567	53	112	0	0	NUM
cjfa-12567	53	113	%	%	NOUN
cjfa-12567	53	114	500	500	NUM
cjfa-12567	53	115	%	%	NOUN
cjfa-12567	53	116	1000	1000	NUM
cjfa-12567	53	117	%	%	NOUN
cjfa-12567	53	118	1500	1500	NUM
cjfa-12567	53	119	%	%	NOUN
cjfa-12567	53	120	2000	2000	NUM
cjfa-12567	53	121	%	%	NOUN
cjfa-12567	53	122	2500	2500	NUM
cjfa-12567	53	123	%	%	NOUN
cjfa-12567	53	124	2001	2001	NUM
cjfa-12567	53	125	2002	2002	NUM
cjfa-12567	53	126	2003	2003	NUM
cjfa-12567	53	127	2004	2004	NUM
cjfa-12567	53	128	2005	2005	NUM
cjfa-12567	53	129	2006	2006	NUM
cjfa-12567	53	130	2007	2007	NUM
cjfa-12567	53	131	2008	2008	NUM
cjfa-12567	53	132	2009	2009	NUM
cjfa-12567	53	133	2010	2010	NUM
cjfa-12567	53	134	2011	2011	NUM
cjfa-12567	53	135	2012	2012	NUM
cjfa-12567	53	136	2013	2013	NUM
cjfa-12567	53	137	2014	2014	NUM
cjfa-12567	53	138	etfs	etfs	PROPN
cjfa-12567	53	139	mutual	mutual	ADJ
cjfa-12567	53	140	funds	fund	NOUN
cjfa-12567	53	141	s	s	PART
cjfa-12567	53	142	o	o	NOUN
cjfa-12567	53	143	u	u	NOUN
cjfa-12567	53	144	r	r	NOUN
cjfa-12567	53	145	c	c	NOUN
cjfa-12567	53	146	e	e	NOUN
cjfa-12567	53	147	:	:	PUNCT
cjfa-12567	53	148	http://www.etfgi.com/.	http://www.etfgi.com/.	PRON
cjfa-12567	53	149	figure	figure	NOUN
cjfa-12567	53	150	2	2	NUM
cjfa-12567	53	151	shows	show	VERB
cjfa-12567	53	152	how	how	SCONJ
cjfa-12567	53	153	etf	etf	NOUN
cjfa-12567	53	154	business	business	NOUN
cjfa-12567	53	155	expanded	expand	VERB
cjfa-12567	53	156	over	over	ADP
cjfa-12567	53	157	the	the	DET
cjfa-12567	53	158	past	past	ADJ
cjfa-12567	53	159	years	year	NOUN
cjfa-12567	53	160	.	.	PUNCT
cjfa-12567	54	1	aum	aum	PROPN
cjfa-12567	54	2	grew	grow	VERB
cjfa-12567	54	3	over	over	ADP
cjfa-12567	54	4	2,000	2,000	NUM
cjfa-12567	54	5	%	%	NOUN
cjfa-12567	54	6	mutual	mutual	ADJ
cjfa-12567	54	7	fund	fund	NOUN
cjfa-12567	54	8	growth	growth	NOUN
cjfa-12567	54	9	comparing	compare	VERB
cjfa-12567	54	10	to	to	ADP
cjfa-12567	54	11	etf	etf	NOUN
cjfa-12567	54	12	’s	’s	PART
cjfa-12567	54	13	is	be	AUX
cjfa-12567	54	14	dramatically	dramatically	ADV
cjfa-12567	54	15	lower	low	ADJ
cjfa-12567	54	16	.	.	PUNCT
cjfa-12567	55	1	120	120	NUM
cjfa-12567	55	2	%	%	NOUN
cjfa-12567	55	3	aum	aum	NOUN
cjfa-12567	55	4	increase	increase	NOUN
cjfa-12567	55	5	over	over	ADP
cjfa-12567	55	6	thirteen	thirteen	NUM
cjfa-12567	55	7	years	year	NOUN
cjfa-12567	55	8	can	can	AUX
cjfa-12567	55	9	be	be	AUX
cjfa-12567	55	10	explained	explain	VERB
cjfa-12567	55	11	only	only	ADV
cjfa-12567	55	12	by	by	ADP
cjfa-12567	55	13	much	much	ADV
cjfa-12567	55	14	older	old	ADJ
cjfa-12567	55	15	and	and	CCONJ
cjfa-12567	55	16	stable	stable	ADJ
cjfa-12567	55	17	industry	industry	NOUN
cjfa-12567	55	18	.	.	PUNCT
cjfa-12567	56	1	however	however	ADV
cjfa-12567	56	2	,	,	PUNCT
cjfa-12567	56	3	etfs	etfs	PROPN
cjfa-12567	56	4	are	be	AUX
cjfa-12567	56	5	becoming	become	VERB
cjfa-12567	56	6	serious	serious	ADJ
cjfa-12567	56	7	competitors	competitor	NOUN
cjfa-12567	56	8	in	in	ADP
cjfa-12567	56	9	such	such	DET
cjfa-12567	56	10	a	a	DET
cjfa-12567	56	11	saturated	saturated	ADJ
cjfa-12567	56	12	market	market	NOUN
cjfa-12567	56	13	.	.	PUNCT
cjfa-12567	57	1	kamil	kamil	PROPN
cjfa-12567	57	2	nowak166	nowak166	PROPN
cjfa-12567	57	3	figure	figure	NOUN
cjfa-12567	57	4	2	2	NUM
cjfa-12567	57	5	.	.	PUNCT
cjfa-12567	58	1	etf	etf	NOUN
cjfa-12567	58	2	vs	vs	ADP
cjfa-12567	58	3	mutual	mutual	ADJ
cjfa-12567	58	4	fund	fund	NOUN
cjfa-12567	58	5	growth	growth	NOUN
cjfa-12567	58	6	(	(	PUNCT
cjfa-12567	58	7	percentage	percentage	NOUN
cjfa-12567	58	8	in	in	ADP
cjfa-12567	58	9	assets	asset	NOUN
cjfa-12567	58	10	since	since	SCONJ
cjfa-12567	58	11	2001	2001	NUM
cjfa-12567	58	12	)	)	PUNCT
cjfa-12567	59	1	every	every	DET
cjfa-12567	59	2	portfolio	portfolio	NOUN
cjfa-12567	59	3	management	management	NOUN
cjfa-12567	59	4	strategy	strategy	NOUN
cjfa-12567	59	5	.	.	PUNCT
cjfa-12567	60	1	as	as	SCONJ
cjfa-12567	60	2	can	can	AUX
cjfa-12567	60	3	be	be	AUX
cjfa-12567	60	4	seen	see	VERB
cjfa-12567	60	5	on	on	ADP
cjfa-12567	60	6	figure	figure	NOUN
cjfa-12567	60	7	1	1	NUM
cjfa-12567	60	8	etf	etf	NOUN
cjfa-12567	60	9	’s	’s	PART
cjfa-12567	60	10	aum	aum	NOUN
cjfa-12567	60	11	grew	grow	VERB
cjfa-12567	60	12	rapidly	rapidly	ADV
cjfa-12567	60	13	over	over	ADP
cjfa-12567	60	14	the	the	DET
cjfa-12567	60	15	last	last	ADJ
cjfa-12567	60	16	eleven	eleven	NUM
cjfa-12567	60	17	years	year	NOUN
cjfa-12567	60	18	.	.	PUNCT
cjfa-12567	61	1	from	from	ADP
cjfa-12567	61	2	only	only	ADV
cjfa-12567	61	3	416	416	NUM
cjfa-12567	61	4	us$	us$	SYM
cjfa-12567	61	5	bn	bn	NOUN
cjfa-12567	61	6	to	to	ADP
cjfa-12567	61	7	nearly	nearly	ADV
cjfa-12567	61	8	3,000	3,000	NUM
cjfa-12567	61	9	us$	us$	SYM
cjfa-12567	61	10	bn	bn	NOUN
cjfa-12567	61	11	.	.	PUNCT
cjfa-12567	61	12	figure	figure	NOUN
cjfa-12567	61	13	1	1	NUM
cjfa-12567	61	14	.	.	PUNCT
cjfa-12567	61	15	global	global	ADJ
cjfa-12567	61	16	etf	etf	NOUN
cjfa-12567	61	17	growth	growth	NOUN
cjfa-12567	61	18	2005	2005	NUM
cjfa-12567	61	19	-	-	SYM
cjfa-12567	61	20	2016	2016	NUM
cjfa-12567	61	21	source	source	NOUN
cjfa-12567	61	22	:	:	PUNCT
cjfa-12567	61	23	http://www.etfgi.com/.	http://www.etfgi.com/.	PRON
cjfa-12567	61	24	figure	figure	NOUN
cjfa-12567	61	25	2	2	NUM
cjfa-12567	61	26	shows	show	VERB
cjfa-12567	61	27	how	how	SCONJ
cjfa-12567	61	28	etf	etf	NOUN
cjfa-12567	61	29	business	business	NOUN
cjfa-12567	61	30	expanded	expand	VERB
cjfa-12567	61	31	over	over	ADP
cjfa-12567	61	32	the	the	DET
cjfa-12567	61	33	past	past	ADJ
cjfa-12567	61	34	years	year	NOUN
cjfa-12567	61	35	.	.	PUNCT
cjfa-12567	62	1	aum	aum	PROPN
cjfa-12567	62	2	grew	grow	VERB
cjfa-12567	62	3	over	over	ADP
cjfa-12567	62	4	2,000	2,000	NUM
cjfa-12567	62	5	%	%	NOUN
cjfa-12567	62	6	mutual	mutual	ADJ
cjfa-12567	62	7	fund	fund	NOUN
cjfa-12567	62	8	growth	growth	NOUN
cjfa-12567	62	9	comparing	compare	VERB
cjfa-12567	62	10	to	to	ADP
cjfa-12567	62	11	etf	etf	NOUN
cjfa-12567	62	12	’s	’s	PART
cjfa-12567	62	13	is	be	AUX
cjfa-12567	62	14	dramatically	dramatically	ADV
cjfa-12567	62	15	lower	low	ADJ
cjfa-12567	62	16	.	.	PUNCT
cjfa-12567	63	1	120	120	NUM
cjfa-12567	63	2	%	%	NOUN
cjfa-12567	63	3	aum	aum	NOUN
cjfa-12567	63	4	increase	increase	NOUN
cjfa-12567	63	5	over	over	ADP
cjfa-12567	63	6	thirteen	thirteen	NUM
cjfa-12567	63	7	years	year	NOUN
cjfa-12567	63	8	can	can	AUX
cjfa-12567	63	9	be	be	AUX
cjfa-12567	63	10	explained	explain	VERB
cjfa-12567	63	11	only	only	ADV
cjfa-12567	63	12	by	by	ADP
cjfa-12567	63	13	much	much	ADV
cjfa-12567	63	14	older	old	ADJ
cjfa-12567	63	15	and	and	CCONJ
cjfa-12567	63	16	stable	stable	ADJ
cjfa-12567	63	17	industry	industry	NOUN
cjfa-12567	63	18	.	.	PUNCT
cjfa-12567	64	1	however	however	ADV
cjfa-12567	64	2	,	,	PUNCT
cjfa-12567	64	3	etfs	etfs	PROPN
cjfa-12567	64	4	are	be	AUX
cjfa-12567	64	5	becoming	become	VERB
cjfa-12567	64	6	serious	serious	ADJ
cjfa-12567	64	7	competitors	competitor	NOUN
cjfa-12567	64	8	in	in	ADP
cjfa-12567	64	9	such	such	DET
cjfa-12567	64	10	a	a	DET
cjfa-12567	64	11	saturated	saturated	ADJ
cjfa-12567	64	12	market	market	NOUN
cjfa-12567	64	13	.	.	PUNCT
cjfa-12567	65	1	figure	figure	NOUN
cjfa-12567	65	2	1	1	NUM
cjfa-12567	65	3	.	.	PUNCT
cjfa-12567	66	1	etf	etf	NOUN
cjfa-12567	66	2	vs	vs	ADP
cjfa-12567	66	3	mutual	mutual	ADJ
cjfa-12567	66	4	fund	fund	NOUN
cjfa-12567	66	5	growth	growth	NOUN
cjfa-12567	66	6	(	(	PUNCT
cjfa-12567	66	7	percentage	percentage	NOUN
cjfa-12567	66	8	in	in	ADP
cjfa-12567	66	9	assets	asset	NOUN
cjfa-12567	66	10	since	since	SCONJ
cjfa-12567	66	11	2001	2001	NUM
cjfa-12567	66	12	)	)	PUNCT
cjfa-12567	66	13	source	source	NOUN
cjfa-12567	66	14	:	:	PUNCT
cjfa-12567	66	15	http://etfdb.com	http://etfdb.com	X
cjfa-12567	66	16	.	.	PUNCT
cjfa-12567	67	1	where	where	SCONJ
cjfa-12567	67	2	does	do	AUX
cjfa-12567	67	3	that	that	DET
cjfa-12567	67	4	growing	grow	VERB
cjfa-12567	67	5	popularity	popularity	NOUN
cjfa-12567	67	6	come	come	VERB
cjfa-12567	67	7	from	from	ADP
cjfa-12567	67	8	?	?	PUNCT
cjfa-12567	68	1	etf	etf	NOUN
cjfa-12567	68	2	’s	’s	PART
cjfa-12567	68	3	features	feature	NOUN
cjfa-12567	68	4	,	,	PUNCT
cjfa-12567	68	5	significantly	significantly	ADV
cjfa-12567	68	6	different	different	ADJ
cjfa-12567	68	7	than	than	SCONJ
cjfa-12567	68	8	earlier	early	ADJ
cjfa-12567	68	9	investment	investment	NOUN
cjfa-12567	68	10	products	product	NOUN
cjfa-12567	68	11	provides	provide	VERB
cjfa-12567	68	12	broad	broad	ADJ
cjfa-12567	68	13	range	range	NOUN
cjfa-12567	68	14	of	of	ADP
cjfa-12567	68	15	advantages	advantage	NOUN
cjfa-12567	68	16	over	over	ADP
cjfa-12567	68	17	other	other	ADJ
cjfa-12567	68	18	investment	investment	NOUN
cjfa-12567	68	19	vehicles	vehicle	NOUN
cjfa-12567	68	20	:	:	PUNCT
cjfa-12567	68	21	0	0	NUM
cjfa-12567	68	22	500	500	NUM
cjfa-12567	68	23	1000	1000	NUM
cjfa-12567	68	24	1500	1500	NUM
cjfa-12567	68	25	2000	2000	NUM
cjfa-12567	68	26	2500	2500	NUM
cjfa-12567	68	27	3000	3000	NUM
cjfa-12567	68	28	2005	2005	NUM
cjfa-12567	68	29	2006	2006	NUM
cjfa-12567	68	30	2007	2007	NUM
cjfa-12567	68	31	2008	2008	NUM
cjfa-12567	68	32	2009	2009	NUM
cjfa-12567	68	33	2010	2010	NUM
cjfa-12567	68	34	2011	2011	NUM
cjfa-12567	68	35	2012	2012	NUM
cjfa-12567	68	36	2013	2013	NUM
cjfa-12567	68	37	2014	2014	NUM
cjfa-12567	68	38	2015	2015	NUM
cjfa-12567	68	39	2016	2016	NUM
cjfa-12567	68	40	416	416	NUM
cjfa-12567	68	41	580	580	NUM
cjfa-12567	68	42	807	807	NUM
cjfa-12567	68	43	716	716	NUM
cjfa-12567	68	44	1041	1041	NUM
cjfa-12567	68	45	1313	1313	NUM
cjfa-12567	68	46	1355	1355	NUM
cjfa-12567	68	47	1754	1754	NUM
cjfa-12567	68	48	2254	2254	NUM
cjfa-12567	68	49	2649	2649	NUM
cjfa-12567	68	50	2874	2874	NUM
cjfa-12567	68	51	2996assets	2996asset	NOUN
cjfa-12567	68	52	(	(	PUNCT
cjfa-12567	68	53	us$	us$	SYM
cjfa-12567	68	54	bn	bn	NOUN
cjfa-12567	68	55	)	)	PUNCT
cjfa-12567	68	56	0	0	NUM
cjfa-12567	68	57	%	%	NOUN
cjfa-12567	68	58	23	23	NUM
cjfa-12567	68	59	%	%	NOUN
cjfa-12567	68	60	82	82	NUM
cjfa-12567	68	61	%	%	NOUN
cjfa-12567	68	62	175	175	NUM
cjfa-12567	68	63	%	%	NOUN
cjfa-12567	68	64	263	263	NUM
cjfa-12567	68	65	%	%	NOUN
cjfa-12567	68	66	410	410	NUM
cjfa-12567	68	67	%	%	NOUN
cjfa-12567	68	68	633	633	NUM
cjfa-12567	68	69	%	%	NOUN
cjfa-12567	68	70	540	540	NUM
cjfa-12567	68	71	%	%	NOUN
cjfa-12567	68	72	836	836	NUM
cjfa-12567	68	73	%	%	NOUN
cjfa-12567	68	74	1095%1163	1095%1163	NUM
cjfa-12567	68	75	%	%	NOUN
cjfa-12567	68	76	1511	1511	NUM
cjfa-12567	68	77	%	%	NOUN
cjfa-12567	68	78	1918	1918	NUM
cjfa-12567	68	79	%	%	NOUN
cjfa-12567	68	80	2279	2279	NUM
cjfa-12567	68	81	%	%	NOUN
cjfa-12567	68	82	0	0	NUM
cjfa-12567	68	83	%	%	NOUN
cjfa-12567	68	84	-8	-8	ADJ
cjfa-12567	68	85	%	%	NOUN
cjfa-12567	68	86	6	6	NUM
cjfa-12567	68	87	%	%	NOUN
cjfa-12567	68	88	16	16	NUM
cjfa-12567	68	89	%	%	NOUN
cjfa-12567	68	90	27	27	NUM
cjfa-12567	68	91	%	%	NOUN
cjfa-12567	68	92	49	49	NUM
cjfa-12567	68	93	%	%	NOUN
cjfa-12567	68	94	72	72	NUM
cjfa-12567	68	95	%	%	NOUN
cjfa-12567	68	96	38	38	NUM
cjfa-12567	68	97	%	%	NOUN
cjfa-12567	68	98	59	59	NUM
cjfa-12567	68	99	%	%	NOUN
cjfa-12567	68	100	70	70	NUM
cjfa-12567	68	101	%	%	NOUN
cjfa-12567	68	102	67	67	NUM
cjfa-12567	68	103	%	%	NOUN
cjfa-12567	68	104	87	87	NUM
cjfa-12567	68	105	%	%	NOUN
cjfa-12567	68	106	115	115	NUM
cjfa-12567	68	107	%	%	NOUN
cjfa-12567	68	108	127	127	NUM
cjfa-12567	68	109	%	%	NOUN
cjfa-12567	68	110	-500	-500	NUM
cjfa-12567	68	111	%	%	NOUN
cjfa-12567	68	112	0	0	NUM
cjfa-12567	68	113	%	%	NOUN
cjfa-12567	68	114	500	500	NUM
cjfa-12567	68	115	%	%	NOUN
cjfa-12567	68	116	1000	1000	NUM
cjfa-12567	68	117	%	%	NOUN
cjfa-12567	68	118	1500	1500	NUM
cjfa-12567	68	119	%	%	NOUN
cjfa-12567	68	120	2000	2000	NUM
cjfa-12567	68	121	%	%	NOUN
cjfa-12567	68	122	2500	2500	NUM
cjfa-12567	68	123	%	%	NOUN
cjfa-12567	68	124	2001	2001	NUM
cjfa-12567	68	125	2002	2002	NUM
cjfa-12567	68	126	2003	2003	NUM
cjfa-12567	68	127	2004	2004	NUM
cjfa-12567	68	128	2005	2005	NUM
cjfa-12567	68	129	2006	2006	NUM
cjfa-12567	68	130	2007	2007	NUM
cjfa-12567	68	131	2008	2008	NUM
cjfa-12567	68	132	2009	2009	NUM
cjfa-12567	68	133	2010	2010	NUM
cjfa-12567	68	134	2011	2011	NUM
cjfa-12567	68	135	2012	2012	NUM
cjfa-12567	68	136	2013	2013	NUM
cjfa-12567	68	137	2014	2014	NUM
cjfa-12567	68	138	etfs	etfs	PROPN
cjfa-12567	68	139	mutual	mutual	ADJ
cjfa-12567	68	140	funds	fund	NOUN
cjfa-12567	68	141	s	s	PART
cjfa-12567	68	142	o	o	NOUN
cjfa-12567	68	143	u	u	NOUN
cjfa-12567	68	144	r	r	NOUN
cjfa-12567	68	145	c	c	NOUN
cjfa-12567	68	146	e	e	NOUN
cjfa-12567	68	147	:	:	PUNCT
cjfa-12567	68	148	http://etfdb.com	http://etfdb.com	X
cjfa-12567	68	149	.	.	PUNCT
cjfa-12567	68	150	where	where	SCONJ
cjfa-12567	68	151	does	do	AUX
cjfa-12567	68	152	that	that	DET
cjfa-12567	68	153	growing	grow	VERB
cjfa-12567	68	154	popularity	popularity	NOUN
cjfa-12567	68	155	come	come	VERB
cjfa-12567	68	156	from	from	ADP
cjfa-12567	68	157	?	?	PUNCT
cjfa-12567	69	1	etf	etf	NOUN
cjfa-12567	69	2	’s	’s	PART
cjfa-12567	69	3	features	feature	NOUN
cjfa-12567	69	4	,	,	PUNCT
cjfa-12567	69	5	significantly	significantly	ADV
cjfa-12567	69	6	different	different	ADJ
cjfa-12567	69	7	than	than	SCONJ
cjfa-12567	69	8	earlier	early	ADJ
cjfa-12567	69	9	investment	investment	NOUN
cjfa-12567	69	10	products	product	NOUN
cjfa-12567	69	11	provides	provide	VERB
cjfa-12567	69	12	broad	broad	ADJ
cjfa-12567	69	13	range	range	NOUN
cjfa-12567	69	14	of	of	ADP
cjfa-12567	69	15	advantages	advantage	NOUN
cjfa-12567	69	16	over	over	ADP
cjfa-12567	69	17	other	other	ADJ
cjfa-12567	69	18	investment	investment	NOUN
cjfa-12567	69	19	vehicles	vehicle	NOUN
cjfa-12567	69	20	:	:	PUNCT
cjfa-12567	69	21	■	■	PUNCT
cjfa-12567	69	22	accessibility	accessibility	NOUN
cjfa-12567	69	23	–	–	PUNCT
cjfa-12567	69	24	etfs	etfs	NOUN
cjfa-12567	69	25	finally	finally	ADV
cjfa-12567	69	26	brought	bring	VERB
cjfa-12567	69	27	democracy	democracy	NOUN
cjfa-12567	69	28	to	to	ADP
cjfa-12567	69	29	investment	investment	NOUN
cjfa-12567	69	30	management	management	NOUN
cjfa-12567	69	31	business	business	NOUN
cjfa-12567	69	32	.	.	PUNCT
cjfa-12567	70	1	markets	market	NOUN
cjfa-12567	70	2	and	and	CCONJ
cjfa-12567	70	3	asset	asset	NOUN
cjfa-12567	70	4	classes	class	NOUN
cjfa-12567	70	5	reserved	reserve	VERB
cjfa-12567	70	6	only	only	ADV
cjfa-12567	70	7	for	for	ADP
cjfa-12567	70	8	large	large	ADJ
cjfa-12567	70	9	institutional	institutional	ADJ
cjfa-12567	70	10	investors	investor	NOUN
cjfa-12567	70	11	became	become	VERB
cjfa-12567	70	12	easily	easily	ADV
cjfa-12567	70	13	accessible	accessible	ADJ
cjfa-12567	70	14	for	for	ADP
cjfa-12567	70	15	individual	individual	ADJ
cjfa-12567	70	16	investors	investor	NOUN
cjfa-12567	70	17	.	.	PUNCT
cjfa-12567	71	1	a	a	DET
cjfa-12567	71	2	sophisticated	sophisticated	ADJ
cjfa-12567	71	3	portfolio	portfolio	NOUN
cjfa-12567	71	4	can	can	AUX
cjfa-12567	71	5	be	be	AUX
cjfa-12567	71	6	composed	compose	VERB
cjfa-12567	71	7	with	with	ADP
cjfa-12567	71	8	just	just	ADV
cjfa-12567	71	9	an	an	DET
cjfa-12567	71	10	access	access	NOUN
cjfa-12567	71	11	to	to	ADP
cjfa-12567	71	12	a	a	DET
cjfa-12567	71	13	brokerage	brokerage	NOUN
cjfa-12567	71	14	account	account	NOUN
cjfa-12567	71	15	.	.	PUNCT
cjfa-12567	72	1	■	■	PUNCT
cjfa-12567	72	2	transparency	transparency	NOUN
cjfa-12567	72	3	–	–	PUNCT
cjfa-12567	72	4	the	the	DET
cjfa-12567	72	5	most	most	ADJ
cjfa-12567	72	6	of	of	ADP
cjfa-12567	72	7	etfs	etfs	PROPN
cjfa-12567	72	8	are	be	AUX
cjfa-12567	72	9	obliged	oblige	VERB
cjfa-12567	72	10	to	to	PART
cjfa-12567	72	11	display	display	VERB
cjfa-12567	72	12	their	their	PRON
cjfa-12567	72	13	portfolios	portfolio	NOUN
cjfa-12567	72	14	on	on	ADP
cjfa-12567	72	15	a	a	DET
cjfa-12567	72	16	daily	daily	ADJ
cjfa-12567	72	17	basis	basis	NOUN
cjfa-12567	72	18	.	.	PUNCT
cjfa-12567	73	1	etfs	etfs	PROPN
cjfa-12567	73	2	investors	investor	NOUN
cjfa-12567	73	3	unlike	unlike	ADP
cjfa-12567	73	4	mutual	mutual	ADJ
cjfa-12567	73	5	funds	fund	NOUN
cjfa-12567	73	6	clients	client	NOUN
cjfa-12567	73	7	do	do	AUX
cjfa-12567	73	8	not	not	PART
cjfa-12567	73	9	have	have	VERB
cjfa-12567	73	10	to	to	PART
cjfa-12567	73	11	wonder	wonder	VERB
cjfa-12567	73	12	where	where	SCONJ
cjfa-12567	73	13	their	their	PRON
cjfa-12567	73	14	funds	fund	NOUN
cjfa-12567	73	15	have	have	AUX
cjfa-12567	73	16	been	be	AUX
cjfa-12567	73	17	invested	invest	VERB
cjfa-12567	73	18	between	between	ADP
cjfa-12567	73	19	reporting	report	VERB
cjfa-12567	73	20	periods	period	NOUN
cjfa-12567	73	21	or	or	CCONJ
cjfa-12567	73	22	if	if	SCONJ
cjfa-12567	73	23	a	a	DET
cjfa-12567	73	24	portfolio	portfolio	NOUN
cjfa-12567	73	25	manager	manager	NOUN
cjfa-12567	73	26	has	have	AUX
cjfa-12567	73	27	taken	take	VERB
cjfa-12567	73	28	unnecessary	unnecessary	ADJ
cjfa-12567	73	29	risk	risk	NOUN
cjfa-12567	73	30	.	.	PUNCT
cjfa-12567	74	1	knowing	know	VERB
cjfa-12567	74	2	the	the	DET
cjfa-12567	74	3	underlying	underlie	VERB
cjfa-12567	74	4	assets	asset	NOUN
cjfa-12567	74	5	investors	investor	NOUN
cjfa-12567	74	6	may	may	AUX
cjfa-12567	74	7	avoid	avoid	VERB
cjfa-12567	74	8	doubling	double	VERB
cjfa-12567	74	9	the	the	DET
cjfa-12567	74	10	exposures	exposure	NOUN
cjfa-12567	74	11	by	by	ADP
cjfa-12567	74	12	holding	hold	VERB
cjfa-12567	74	13	those	those	DET
cjfa-12567	74	14	assets	asset	NOUN
cjfa-12567	74	15	elsewhere	elsewhere	ADV
cjfa-12567	74	16	.	.	PUNCT
cjfa-12567	75	1	■	■	PUNCT
cjfa-12567	75	2	liquidity	liquidity	NOUN
cjfa-12567	75	3	–	–	PUNCT
cjfa-12567	75	4	‘	'	PUNCT
cjfa-12567	75	5	exchange	exchange	NOUN
cjfa-12567	75	6	traded	trade	VERB
cjfa-12567	75	7	’	'	PUNCT
cjfa-12567	75	8	is	be	AUX
cjfa-12567	75	9	the	the	DET
cjfa-12567	75	10	key	key	NOUN
cjfa-12567	75	11	to	to	AUX
cjfa-12567	75	12	etfs	etfs	PROPN
cjfa-12567	75	13	extraordinary	extraordinary	ADJ
cjfa-12567	75	14	liquidity	liquidity	NOUN
cjfa-12567	75	15	.	.	PUNCT
cjfa-12567	76	1	they	they	PRON
cjfa-12567	76	2	can	can	AUX
cjfa-12567	76	3	be	be	AUX
cjfa-12567	76	4	traded	trade	VERB
cjfa-12567	76	5	multiple	multiple	ADJ
cjfa-12567	76	6	times	time	NOUN
cjfa-12567	76	7	,	,	PUNCT
cjfa-12567	76	8	daily	daily	ADV
cjfa-12567	76	9	exactly	exactly	ADV
cjfa-12567	76	10	as	as	ADP
cjfa-12567	76	11	stocks	stock	NOUN
cjfa-12567	76	12	with	with	ADP
cjfa-12567	76	13	transparency	transparency	NOUN
cjfa-12567	76	14	and	and	CCONJ
cjfa-12567	76	15	regulatory	regulatory	ADJ
cjfa-12567	76	16	protection	protection	NOUN
cjfa-12567	76	17	.	.	PUNCT
cjfa-12567	77	1	also	also	ADV
cjfa-12567	77	2	like	like	VERB
cjfa-12567	77	3	stocks	stock	NOUN
cjfa-12567	77	4	etfs	etfs	PROPN
cjfa-12567	77	5	can	can	AUX
cjfa-12567	77	6	be	be	AUX
cjfa-12567	77	7	held	hold	VERB
cjfa-12567	77	8	with	with	ADP
cjfa-12567	77	9	a	a	DET
cjfa-12567	77	10	margin	margin	NOUN
cjfa-12567	77	11	,	,	PUNCT
cjfa-12567	77	12	shorted	short	VERB
cjfa-12567	77	13	or	or	CCONJ
cjfa-12567	77	14	optioned	optione	VERB
cjfa-12567	77	15	.	.	PUNCT
cjfa-12567	78	1	the	the	DET
cjfa-12567	78	2	creation	creation	NOUN
cjfa-12567	78	3	/	/	SYM
cjfa-12567	78	4	redemption	redemption	NOUN
cjfa-12567	78	5	process	process	NOUN
cjfa-12567	78	6	allows	allow	VERB
cjfa-12567	78	7	investors	investor	NOUN
cjfa-12567	78	8	to	to	PART
cjfa-12567	78	9	arbitrage	arbitrage	VERB
cjfa-12567	78	10	between	between	ADP
cjfa-12567	78	11	fund	fund	NOUN
cjfa-12567	78	12	and	and	CCONJ
cjfa-12567	78	13	its	its	PRON
cjfa-12567	78	14	underlying	underlie	VERB
cjfa-12567	78	15	securities	security	NOUN
cjfa-12567	78	16	.	.	PUNCT
cjfa-12567	79	1	■	■	PUNCT
cjfa-12567	79	2	tax	tax	NOUN
cjfa-12567	79	3	efficiency	efficiency	NOUN
cjfa-12567	79	4	–	–	PUNCT
cjfa-12567	79	5	unlike	unlike	ADP
cjfa-12567	79	6	mutual	mutual	ADJ
cjfa-12567	79	7	funds	fund	NOUN
cjfa-12567	79	8	etfs	etfs	PROPN
cjfa-12567	79	9	do	do	AUX
cjfa-12567	79	10	not	not	PART
cjfa-12567	79	11	expose	expose	VERB
cjfa-12567	79	12	their	their	PRON
cjfa-12567	79	13	shareholders	shareholder	NOUN
cjfa-12567	79	14	to	to	ADP
cjfa-12567	79	15	capital	capital	NOUN
cjfa-12567	79	16	gains	gain	NOUN
cjfa-12567	79	17	distributions	distribution	NOUN
cjfa-12567	79	18	.	.	PUNCT
cjfa-12567	80	1	the	the	DET
cjfa-12567	80	2	redemption	redemption	NOUN
cjfa-12567	80	3	in	in	ADP
cjfa-12567	80	4	kind	kind	ADJ
cjfa-12567	80	5	ability	ability	NOUN
cjfa-12567	80	6	practically	practically	ADV
cjfa-12567	80	7	eliminates	eliminate	VERB
cjfa-12567	80	8	the	the	DET
cjfa-12567	80	9	need	need	NOUN
cjfa-12567	80	10	of	of	ADP
cjfa-12567	80	11	capital	capital	NOUN
cjfa-12567	80	12	gains	gain	NOUN
cjfa-12567	80	13	distributions	distribution	NOUN
cjfa-12567	80	14	.	.	PUNCT
cjfa-12567	81	1	■	■	PUNCT
cjfa-12567	81	2	costs	cost	NOUN
cjfa-12567	81	3	–	–	PUNCT
cjfa-12567	81	4	last	last	ADJ
cjfa-12567	81	5	but	but	CCONJ
cjfa-12567	81	6	not	not	PART
cjfa-12567	81	7	least	least	ADJ
cjfa-12567	81	8	,	,	PUNCT
cjfa-12567	81	9	probably	probably	ADV
cjfa-12567	81	10	the	the	DET
cjfa-12567	81	11	biggest	big	ADJ
cjfa-12567	81	12	,	,	PUNCT
cjfa-12567	81	13	advantage	advantage	NOUN
cjfa-12567	81	14	of	of	ADP
cjfa-12567	81	15	etfs	etfs	PROPN
cjfa-12567	81	16	is	be	AUX
cjfa-12567	81	17	their	their	PRON
cjfa-12567	81	18	expense	expense	NOUN
cjfa-12567	81	19	ratio	ratio	NOUN
cjfa-12567	81	20	.	.	PUNCT
cjfa-12567	82	1	average	average	ADJ
cjfa-12567	82	2	mutual	mutual	ADJ
cjfa-12567	82	3	fund	fund	NOUN
cjfa-12567	82	4	expense	expense	NOUN
cjfa-12567	82	5	ratio	ratio	NOUN
cjfa-12567	82	6	is	be	AUX
cjfa-12567	82	7	almost	almost	ADV
cjfa-12567	82	8	150	150	NUM
cjfa-12567	82	9	%	%	NOUN
cjfa-12567	82	10	higher	high	ADJ
cjfa-12567	82	11	than	than	ADP
cjfa-12567	82	12	average	average	ADJ
cjfa-12567	82	13	etf	etf	NOUN
cjfa-12567	82	14	’s	’s	PART
cjfa-12567	82	15	expense	expense	NOUN
cjfa-12567	82	16	ratio	ratio	NOUN
cjfa-12567	82	17	.	.	PUNCT
cjfa-12567	83	1	the	the	DET
cjfa-12567	83	2	savings	saving	NOUN
cjfa-12567	83	3	can	can	AUX
cjfa-12567	83	4	be	be	AUX
cjfa-12567	83	5	achieved	achieve	VERB
cjfa-12567	83	6	be	be	AUX
cjfa-12567	83	7	implementation	implementation	NOUN
cjfa-12567	83	8	of	of	ADP
cjfa-12567	83	9	alternative	alternative	ADJ
cjfa-12567	83	10	index	index	NOUN
cjfa-12567	83	11	weighting	weighting	NOUN
cjfa-12567	83	12	…	…	SYM
cjfa-12567	83	13	167	167	NUM
cjfa-12567	83	14	cause	cause	SCONJ
cjfa-12567	83	15	etfs	etfs	NOUN
cjfa-12567	83	16	are	be	AUX
cjfa-12567	83	17	traded	trade	VERB
cjfa-12567	83	18	on	on	ADP
cjfa-12567	83	19	the	the	DET
cjfa-12567	83	20	stock	stock	NOUN
cjfa-12567	83	21	exchange	exchange	NOUN
cjfa-12567	83	22	and	and	CCONJ
cjfa-12567	83	23	most	most	ADJ
cjfa-12567	83	24	of	of	ADP
cjfa-12567	83	25	the	the	DET
cjfa-12567	83	26	costs	cost	NOUN
cjfa-12567	83	27	like	like	ADP
cjfa-12567	83	28	recordkeeping	recordkeepe	VERB
cjfa-12567	83	29	or	or	CCONJ
cjfa-12567	83	30	sending	send	VERB
cjfa-12567	83	31	the	the	DET
cjfa-12567	83	32	prospectus	prospectus	NOUN
cjfa-12567	83	33	are	be	AUX
cjfa-12567	83	34	borne	bear	VERB
cjfa-12567	83	35	by	by	ADP
cjfa-12567	83	36	brokers	broker	NOUN
cjfa-12567	83	37	.	.	PUNCT
cjfa-12567	84	1	in	in	ADP
cjfa-12567	84	2	summary	summary	NOUN
cjfa-12567	84	3	etfs	etfs	PROPN
cjfa-12567	84	4	set	set	VERB
cjfa-12567	84	5	up	up	ADP
cjfa-12567	84	6	new	new	ADJ
cjfa-12567	84	7	investing	investing	NOUN
cjfa-12567	84	8	standards	standard	NOUN
cjfa-12567	84	9	.	.	PUNCT
cjfa-12567	85	1	with	with	ADP
cjfa-12567	85	2	lower	low	ADJ
cjfa-12567	85	3	costs	cost	NOUN
cjfa-12567	85	4	,	,	PUNCT
cjfa-12567	85	5	liquidity	liquidity	NOUN
cjfa-12567	85	6	,	,	PUNCT
cjfa-12567	85	7	accessibility	accessibility	NOUN
cjfa-12567	85	8	and	and	CCONJ
cjfa-12567	85	9	tax	tax	NOUN
cjfa-12567	85	10	efficiency	efficiency	NOUN
cjfa-12567	85	11	they	they	PRON
cjfa-12567	85	12	are	be	AUX
cjfa-12567	85	13	attracting	attract	VERB
cjfa-12567	85	14	investors	investor	NOUN
cjfa-12567	85	15	money	money	NOUN
cjfa-12567	85	16	definitely	definitely	ADV
cjfa-12567	85	17	faster	fast	ADV
cjfa-12567	85	18	than	than	ADP
cjfa-12567	85	19	regular	regular	ADJ
cjfa-12567	85	20	mutual	mutual	ADJ
cjfa-12567	85	21	funds	fund	NOUN
cjfa-12567	85	22	.	.	PUNCT
cjfa-12567	86	1	new	new	ADJ
cjfa-12567	86	2	markets	market	NOUN
cjfa-12567	86	3	and	and	CCONJ
cjfa-12567	86	4	asset	asset	NOUN
cjfa-12567	86	5	classes	class	NOUN
cjfa-12567	86	6	became	become	VERB
cjfa-12567	86	7	more	more	ADV
cjfa-12567	86	8	accessible	accessible	ADJ
cjfa-12567	86	9	for	for	ADP
cjfa-12567	86	10	smaller	small	ADJ
cjfa-12567	86	11	investors	investor	NOUN
cjfa-12567	86	12	.	.	PUNCT
cjfa-12567	87	1	in	in	ADP
cjfa-12567	87	2	the	the	DET
cjfa-12567	87	3	other	other	ADJ
cjfa-12567	87	4	hand	hand	NOUN
cjfa-12567	87	5	,	,	PUNCT
cjfa-12567	87	6	big	big	ADJ
cjfa-12567	87	7	institutional	institutional	ADJ
cjfa-12567	87	8	investors	investor	NOUN
cjfa-12567	87	9	received	receive	VERB
cjfa-12567	87	10	a	a	DET
cjfa-12567	87	11	powerful	powerful	ADJ
cjfa-12567	87	12	,	,	PUNCT
cjfa-12567	87	13	liquid	liquid	ADJ
cjfa-12567	87	14	tool	tool	NOUN
cjfa-12567	87	15	to	to	PART
cjfa-12567	87	16	be	be	AUX
cjfa-12567	87	17	used	use	VERB
cjfa-12567	87	18	in	in	ADP
cjfa-12567	87	19	their	their	PRON
cjfa-12567	87	20	short	short	ADJ
cjfa-12567	87	21	and	and	CCONJ
cjfa-12567	87	22	long	long	ADJ
cjfa-12567	87	23	term	term	NOUN
cjfa-12567	87	24	strategies	strategy	NOUN
cjfa-12567	87	25	.	.	PUNCT
cjfa-12567	88	1	what	what	PRON
cjfa-12567	88	2	is	be	AUX
cjfa-12567	88	3	more	more	ADJ
cjfa-12567	88	4	,	,	PUNCT
cjfa-12567	88	5	etfs	etfs	PROPN
cjfa-12567	88	6	brought	bring	VERB
cjfa-12567	88	7	a	a	DET
cjfa-12567	88	8	revolution	revolution	NOUN
cjfa-12567	88	9	to	to	ADP
cjfa-12567	88	10	classic	classic	ADJ
cjfa-12567	88	11	distribution	distribution	NOUN
cjfa-12567	88	12	system	system	NOUN
cjfa-12567	88	13	accelerating	accelerate	VERB
cjfa-12567	88	14	transition	transition	NOUN
cjfa-12567	88	15	to	to	ADP
cjfa-12567	88	16	fee	fee	NOUN
cjfa-12567	88	17	based	base	VERB
cjfa-12567	88	18	relation	relation	NOUN
cjfa-12567	88	19	between	between	ADP
cjfa-12567	88	20	investor	investor	NOUN
cjfa-12567	88	21	and	and	CCONJ
cjfa-12567	88	22	advisor	advisor	PROPN
cjfa-12567	88	23	(	(	PUNCT
cjfa-12567	88	24	hill	hill	PROPN
cjfa-12567	88	25	et	et	PROPN
cjfa-12567	88	26	al	al	PROPN
cjfa-12567	88	27	.	.	PROPN
cjfa-12567	88	28	,	,	PUNCT
cjfa-12567	88	29	2015	2015	NUM
cjfa-12567	88	30	)	)	PUNCT
cjfa-12567	88	31	.	.	PUNCT
cjfa-12567	89	1	genesis	genesis	NOUN
cjfa-12567	89	2	of	of	ADP
cjfa-12567	89	3	index	index	NOUN
cjfa-12567	89	4	tracking	tracking	NOUN
cjfa-12567	89	5	funds	fund	NOUN
cjfa-12567	89	6	index	index	NOUN
cjfa-12567	89	7	tracking	tracking	NOUN
cjfa-12567	89	8	etfs	etfs	NOUN
cjfa-12567	89	9	are	be	AUX
cjfa-12567	89	10	considered	consider	VERB
cjfa-12567	89	11	a	a	DET
cjfa-12567	89	12	passively	passively	ADV
cjfa-12567	89	13	managed	manage	VERB
cjfa-12567	89	14	investment	investment	NOUN
cjfa-12567	89	15	vehicles	vehicle	NOUN
cjfa-12567	89	16	.	.	PUNCT
cjfa-12567	90	1	hearing	hear	VERB
cjfa-12567	90	2	such	such	ADJ
cjfa-12567	90	3	statement	statement	NOUN
cjfa-12567	90	4	question	question	NOUN
cjfa-12567	90	5	arises	arise	VERB
cjfa-12567	90	6	:	:	PUNCT
cjfa-12567	90	7	what	what	PRON
cjfa-12567	90	8	does	do	AUX
cjfa-12567	90	9	passive	passive	ADJ
cjfa-12567	90	10	management	management	NOUN
cjfa-12567	90	11	mean	mean	VERB
cjfa-12567	90	12	?	?	PUNCT
cjfa-12567	91	1	index	index	NOUN
cjfa-12567	91	2	tracking	track	VERB
cjfa-12567	91	3	etfs	etfs	NOUN
cjfa-12567	91	4	are	be	AUX
cjfa-12567	91	5	mirroring	mirror	VERB
cjfa-12567	91	6	the	the	DET
cjfa-12567	91	7	chosen	choose	VERB
cjfa-12567	91	8	index	index	NOUN
cjfa-12567	91	9	by	by	ADP
cjfa-12567	91	10	holding	hold	VERB
cjfa-12567	91	11	assets	asset	NOUN
cjfa-12567	91	12	in	in	ADP
cjfa-12567	91	13	exact	exact	ADJ
cjfa-12567	91	14	proportion	proportion	NOUN
cjfa-12567	91	15	as	as	ADP
cjfa-12567	91	16	an	an	DET
cjfa-12567	91	17	underlying	underlying	ADJ
cjfa-12567	91	18	index	index	NOUN
cjfa-12567	91	19	does	do	VERB
cjfa-12567	91	20	.	.	PUNCT
cjfa-12567	92	1	going	go	VERB
cjfa-12567	92	2	further	far	ADV
cjfa-12567	92	3	:	:	PUNCT
cjfa-12567	92	4	why	why	SCONJ
cjfa-12567	92	5	does	do	AUX
cjfa-12567	92	6	the	the	DET
cjfa-12567	92	7	index	index	NOUN
cjfa-12567	92	8	hold	hold	VERB
cjfa-12567	92	9	more	more	ADV
cjfa-12567	92	10	certain	certain	ADJ
cjfa-12567	92	11	assets	asset	NOUN
cjfa-12567	92	12	than	than	ADP
cjfa-12567	92	13	the	the	DET
cjfa-12567	92	14	other	other	ADJ
cjfa-12567	92	15	?	?	PUNCT
cjfa-12567	93	1	to	to	PART
cjfa-12567	93	2	answer	answer	VERB
cjfa-12567	93	3	that	that	SCONJ
cjfa-12567	93	4	we	we	PRON
cjfa-12567	93	5	have	have	VERB
cjfa-12567	93	6	to	to	PART
cjfa-12567	93	7	go	go	VERB
cjfa-12567	93	8	back	back	ADV
cjfa-12567	93	9	to	to	ADP
cjfa-12567	93	10	the	the	DET
cjfa-12567	93	11	1950s	1950	NOUN
cjfa-12567	93	12	when	when	SCONJ
cjfa-12567	93	13	modern	modern	ADJ
cjfa-12567	93	14	portfolio	portfolio	NOUN
cjfa-12567	93	15	theory	theory	NOUN
cjfa-12567	93	16	was	be	AUX
cjfa-12567	93	17	introduced	introduce	VERB
cjfa-12567	93	18	by	by	ADP
cjfa-12567	93	19	h.	h.	PROPN
cjfa-12567	93	20	markowitz	markowitz	PROPN
cjfa-12567	93	21	and	and	CCONJ
cjfa-12567	93	22	to	to	ADP
cjfa-12567	93	23	1960s	1960	NOUN
cjfa-12567	93	24	when	when	SCONJ
cjfa-12567	93	25	w.	w.	PROPN
cjfa-12567	93	26	sharpe	sharpe	PROPN
cjfa-12567	93	27	enriched	enriched	PROPN
cjfa-12567	93	28	markowitz	markowitz	PROPN
cjfa-12567	93	29	’s	’s	PART
cjfa-12567	93	30	theory	theory	NOUN
cjfa-12567	93	31	by	by	ADP
cjfa-12567	93	32	implementing	implement	VERB
cjfa-12567	93	33	capm	capm	PROPN
cjfa-12567	93	34	model	model	NOUN
cjfa-12567	93	35	.	.	PUNCT
cjfa-12567	94	1	according	accord	VERB
cjfa-12567	94	2	to	to	ADP
cjfa-12567	94	3	markowitz	markowitz	PROPN
cjfa-12567	94	4	an	an	DET
cjfa-12567	94	5	investor	investor	NOUN
cjfa-12567	94	6	can	can	AUX
cjfa-12567	94	7	construct	construct	VERB
cjfa-12567	94	8	an	an	DET
cjfa-12567	94	9	effective	effective	ADJ
cjfa-12567	94	10	portfolio	portfolio	NOUN
cjfa-12567	94	11	that	that	PRON
cjfa-12567	94	12	can	can	AUX
cjfa-12567	94	13	maximize	maximize	VERB
cjfa-12567	94	14	the	the	DET
cjfa-12567	94	15	returns	return	NOUN
cjfa-12567	94	16	bearing	bear	VERB
cjfa-12567	94	17	given	give	VERB
cjfa-12567	94	18	level	level	NOUN
cjfa-12567	94	19	of	of	ADP
cjfa-12567	94	20	risk	risk	NOUN
cjfa-12567	94	21	and	and	CCONJ
cjfa-12567	94	22	otherwise	otherwise	ADV
cjfa-12567	94	23	certain	certain	ADJ
cjfa-12567	94	24	return	return	NOUN
cjfa-12567	94	25	can	can	AUX
cjfa-12567	94	26	be	be	AUX
cjfa-12567	94	27	achieved	achieve	VERB
cjfa-12567	94	28	by	by	ADP
cjfa-12567	94	29	bearing	bear	VERB
cjfa-12567	94	30	minimum	minimum	ADJ
cjfa-12567	94	31	risk	risk	NOUN
cjfa-12567	94	32	.	.	PUNCT
cjfa-12567	95	1	according	accord	VERB
cjfa-12567	95	2	to	to	ADP
cjfa-12567	95	3	mpt	mpt	NOUN
cjfa-12567	95	4	when	when	SCONJ
cjfa-12567	95	5	assets	asset	NOUN
cjfa-12567	95	6	in	in	ADP
cjfa-12567	95	7	the	the	DET
cjfa-12567	95	8	portfolio	portfolio	NOUN
cjfa-12567	95	9	are	be	AUX
cjfa-12567	95	10	positively	positively	ADV
cjfa-12567	95	11	correlated	correlate	VERB
cjfa-12567	95	12	with	with	ADP
cjfa-12567	95	13	each	each	DET
cjfa-12567	95	14	other	other	ADJ
cjfa-12567	95	15	,	,	PUNCT
cjfa-12567	95	16	the	the	DET
cjfa-12567	95	17	portfolio	portfolio	NOUN
cjfa-12567	95	18	’s	’s	PART
cjfa-12567	95	19	variance	variance	NOUN
cjfa-12567	95	20	increases	increase	NOUN
cjfa-12567	95	21	and	and	CCONJ
cjfa-12567	95	22	decreases	decrease	NOUN
cjfa-12567	95	23	when	when	SCONJ
cjfa-12567	95	24	assets	asset	NOUN
cjfa-12567	95	25	are	be	AUX
cjfa-12567	95	26	negatively	negatively	ADV
cjfa-12567	95	27	correlated	correlate	VERB
cjfa-12567	95	28	.	.	PUNCT
cjfa-12567	96	1	in	in	ADP
cjfa-12567	96	2	other	other	ADJ
cjfa-12567	96	3	words	word	NOUN
cjfa-12567	96	4	,	,	PUNCT
cjfa-12567	96	5	investor	investor	NOUN
cjfa-12567	96	6	can	can	AUX
cjfa-12567	96	7	reduce	reduce	VERB
cjfa-12567	96	8	risk	risk	NOUN
cjfa-12567	96	9	exposure	exposure	NOUN
cjfa-12567	96	10	by	by	ADP
cjfa-12567	96	11	portfolio	portfolio	NOUN
cjfa-12567	96	12	diversification	diversification	NOUN
cjfa-12567	96	13	,	,	PUNCT
cjfa-12567	96	14	considering	consider	VERB
cjfa-12567	96	15	also	also	ADV
cjfa-12567	96	16	correlation	correlation	NOUN
cjfa-12567	96	17	across	across	ADP
cjfa-12567	96	18	the	the	DET
cjfa-12567	96	19	assets	asset	NOUN
cjfa-12567	96	20	(	(	PUNCT
cjfa-12567	96	21	markowitz	markowitz	PROPN
cjfa-12567	96	22	,	,	PUNCT
cjfa-12567	96	23	1952	1952	NUM
cjfa-12567	96	24	)	)	PUNCT
cjfa-12567	96	25	.	.	PUNCT
cjfa-12567	97	1	mpt	mpt	PROPN
cjfa-12567	97	2	was	be	AUX
cjfa-12567	97	3	a	a	DET
cjfa-12567	97	4	sole	sole	ADJ
cjfa-12567	97	5	basis	basis	NOUN
cjfa-12567	97	6	to	to	ADP
cjfa-12567	97	7	w.	w.	PROPN
cjfa-12567	97	8	sharpe	sharpe	PROPN
cjfa-12567	97	9	capm	capm	PROPN
cjfa-12567	97	10	theory	theory	NOUN
cjfa-12567	97	11	which	which	PRON
cjfa-12567	97	12	distinguished	distinguish	VERB
cjfa-12567	97	13	systematic	systematic	ADJ
cjfa-12567	97	14	from	from	ADP
cjfa-12567	97	15	specific	specific	ADJ
cjfa-12567	97	16	risk	risk	NOUN
cjfa-12567	97	17	.	.	PUNCT
cjfa-12567	98	1	the	the	DET
cjfa-12567	98	2	systematic	systematic	ADJ
cjfa-12567	98	3	risk	risk	NOUN
cjfa-12567	98	4	is	be	AUX
cjfa-12567	98	5	a	a	DET
cjfa-12567	98	6	risk	risk	NOUN
cjfa-12567	98	7	of	of	ADP
cjfa-12567	98	8	the	the	DET
cjfa-12567	98	9	market	market	NOUN
cjfa-12567	98	10	and	and	CCONJ
cjfa-12567	98	11	is	be	AUX
cjfa-12567	98	12	borne	bear	VERB
cjfa-12567	98	13	by	by	ADP
cjfa-12567	98	14	all	all	DET
cjfa-12567	98	15	the	the	DET
cjfa-12567	98	16	market	market	NOUN
cjfa-12567	98	17	investors	investor	NOUN
cjfa-12567	98	18	.	.	PUNCT
cjfa-12567	99	1	while	while	SCONJ
cjfa-12567	99	2	the	the	DET
cjfa-12567	99	3	specific	specific	ADJ
cjfa-12567	99	4	risk	risk	NOUN
cjfa-12567	99	5	inhere	inhere	VERB
cjfa-12567	99	6	only	only	ADV
cjfa-12567	99	7	a	a	DET
cjfa-12567	99	8	specific	specific	ADJ
cjfa-12567	99	9	security	security	NOUN
cjfa-12567	99	10	or	or	CCONJ
cjfa-12567	99	11	a	a	DET
cjfa-12567	99	12	group	group	NOUN
cjfa-12567	99	13	of	of	ADP
cjfa-12567	99	14	securities	security	NOUN
cjfa-12567	99	15	.	.	PUNCT
cjfa-12567	100	1	according	accord	VERB
cjfa-12567	100	2	to	to	ADP
cjfa-12567	100	3	sharpe	sharpe	PROPN
cjfa-12567	100	4	,	,	PUNCT
cjfa-12567	100	5	while	while	SCONJ
cjfa-12567	100	6	systematic	systematic	ADJ
cjfa-12567	100	7	risk	risk	NOUN
cjfa-12567	100	8	is	be	AUX
cjfa-12567	100	9	unavoidable	unavoidable	ADJ
cjfa-12567	100	10	,	,	PUNCT
cjfa-12567	100	11	specific	specific	ADJ
cjfa-12567	100	12	risk	risk	NOUN
cjfa-12567	100	13	can	can	AUX
cjfa-12567	100	14	be	be	AUX
cjfa-12567	100	15	reduced	reduce	VERB
cjfa-12567	100	16	by	by	ADP
cjfa-12567	100	17	proper	proper	ADJ
cjfa-12567	100	18	diversification	diversification	NOUN
cjfa-12567	100	19	.	.	PUNCT
cjfa-12567	101	1	the	the	DET
cjfa-12567	101	2	only	only	ADJ
cjfa-12567	101	3	portfolio	portfolio	NOUN
cjfa-12567	101	4	free	free	ADJ
cjfa-12567	101	5	of	of	ADP
cjfa-12567	101	6	specific	specific	ADJ
cjfa-12567	101	7	risk	risk	NOUN
cjfa-12567	101	8	is	be	AUX
cjfa-12567	101	9	market	market	NOUN
cjfa-12567	101	10	portfolio	portfolio	NOUN
cjfa-12567	101	11	,	,	PUNCT
cjfa-12567	101	12	which	which	PRON
cjfa-12567	101	13	is	be	AUX
cjfa-12567	101	14	a	a	DET
cjfa-12567	101	15	portfolio	portfolio	NOUN
cjfa-12567	101	16	consisting	consist	VERB
cjfa-12567	101	17	of	of	ADP
cjfa-12567	101	18	a	a	DET
cjfa-12567	101	19	weighted	weight	VERB
cjfa-12567	101	20	sum	sum	NOUN
cjfa-12567	101	21	of	of	ADP
cjfa-12567	101	22	every	every	DET
cjfa-12567	101	23	asset	asset	NOUN
cjfa-12567	101	24	,	,	PUNCT
cjfa-12567	101	25	weighted	weight	VERB
cjfa-12567	101	26	in	in	ADP
cjfa-12567	101	27	proportion	proportion	NOUN
cjfa-12567	101	28	to	to	ADP
cjfa-12567	101	29	its	its	PRON
cjfa-12567	101	30	total	total	ADJ
cjfa-12567	101	31	presence	presence	NOUN
cjfa-12567	101	32	in	in	ADP
cjfa-12567	101	33	the	the	DET
cjfa-12567	101	34	market	market	NOUN
cjfa-12567	101	35	.	.	PUNCT
cjfa-12567	102	1	capm	capm	PROPN
cjfa-12567	102	2	theory	theory	NOUN
cjfa-12567	102	3	also	also	ADV
cjfa-12567	102	4	introduced	introduce	VERB
cjfa-12567	102	5	beta	beta	NOUN
cjfa-12567	102	6	–	–	PUNCT
cjfa-12567	102	7	a	a	DET
cjfa-12567	102	8	measure	measure	NOUN
cjfa-12567	102	9	that	that	PRON
cjfa-12567	102	10	indicates	indicate	VERB
cjfa-12567	102	11	asset	asset	NOUN
cjfa-12567	102	12	’s	’s	PART
cjfa-12567	102	13	volatility	volatility	NOUN
cjfa-12567	102	14	comparing	compare	VERB
cjfa-12567	102	15	to	to	ADP
cjfa-12567	102	16	the	the	DET
cjfa-12567	102	17	market	market	NOUN
cjfa-12567	102	18	(	(	PUNCT
cjfa-12567	102	19	sharpe	sharpe	NOUN
cjfa-12567	102	20	,	,	PUNCT
cjfa-12567	102	21	1966	1966	NUM
cjfa-12567	102	22	)	)	PUNCT
cjfa-12567	102	23	.	.	PUNCT
cjfa-12567	103	1	capm	capm	PROPN
cjfa-12567	103	2	model	model	NOUN
cjfa-12567	103	3	is	be	AUX
cjfa-12567	103	4	a	a	DET
cjfa-12567	103	5	single	single	ADJ
cjfa-12567	103	6	factor	factor	NOUN
cjfa-12567	103	7	model	model	NOUN
cjfa-12567	103	8	where	where	SCONJ
cjfa-12567	103	9	the	the	DET
cjfa-12567	103	10	only	only	ADJ
cjfa-12567	103	11	factor	factor	NOUN
cjfa-12567	103	12	influencing	influence	VERB
cjfa-12567	103	13	asset	asset	NOUN
cjfa-12567	103	14	return	return	NOUN
cjfa-12567	103	15	is	be	AUX
cjfa-12567	103	16	its	its	PRON
cjfa-12567	103	17	correlation	correlation	NOUN
cjfa-12567	103	18	with	with	ADP
cjfa-12567	103	19	market	market	NOUN
cjfa-12567	103	20	kamil	kamil	PROPN
cjfa-12567	103	21	nowak168	nowak168	PROPN
cjfa-12567	103	22	return	return	VERB
cjfa-12567	103	23	.	.	PUNCT
cjfa-12567	104	1	beta	beta	ADJ
cjfa-12567	104	2	factor	factor	NOUN
cjfa-12567	104	3	can	can	AUX
cjfa-12567	104	4	be	be	AUX
cjfa-12567	104	5	applied	apply	VERB
cjfa-12567	104	6	not	not	PART
cjfa-12567	104	7	only	only	ADV
cjfa-12567	104	8	to	to	ADP
cjfa-12567	104	9	the	the	DET
cjfa-12567	104	10	assets	asset	NOUN
cjfa-12567	104	11	but	but	CCONJ
cjfa-12567	104	12	also	also	ADV
cjfa-12567	104	13	to	to	ADP
cjfa-12567	104	14	the	the	DET
cjfa-12567	104	15	portfolio	portfolio	NOUN
cjfa-12567	104	16	.	.	PUNCT
cjfa-12567	105	1	if	if	SCONJ
cjfa-12567	105	2	beta=1	beta=1	PROPN
cjfa-12567	105	3	,	,	PUNCT
cjfa-12567	105	4	a	a	DET
cjfa-12567	105	5	risk	risk	NOUN
cjfa-12567	105	6	of	of	ADP
cjfa-12567	105	7	the	the	DET
cjfa-12567	105	8	portfolio	portfolio	NOUN
cjfa-12567	105	9	is	be	AUX
cjfa-12567	105	10	equal	equal	ADJ
cjfa-12567	105	11	a	a	DET
cjfa-12567	105	12	risk	risk	NOUN
cjfa-12567	105	13	of	of	ADP
cjfa-12567	105	14	market	market	NOUN
cjfa-12567	105	15	portfolio	portfolio	NOUN
cjfa-12567	105	16	.	.	PUNCT
cjfa-12567	106	1	higher	high	ADJ
cjfa-12567	106	2	beta	beta	ADJ
cjfa-12567	106	3	portfolios	portfolio	NOUN
cjfa-12567	106	4	potentially	potentially	ADV
cjfa-12567	106	5	bring	bring	VERB
cjfa-12567	106	6	higher	high	ADJ
cjfa-12567	106	7	returns	return	NOUN
cjfa-12567	106	8	than	than	ADP
cjfa-12567	106	9	the	the	DET
cjfa-12567	106	10	market	market	NOUN
cjfa-12567	106	11	,	,	PUNCT
cjfa-12567	106	12	but	but	CCONJ
cjfa-12567	106	13	risk	risk	NOUN
cjfa-12567	106	14	exposure	exposure	NOUN
cjfa-12567	106	15	is	be	AUX
cjfa-12567	106	16	also	also	ADV
cjfa-12567	106	17	higher	high	ADJ
cjfa-12567	106	18	than	than	ADP
cjfa-12567	106	19	the	the	DET
cjfa-12567	106	20	market	market	NOUN
cjfa-12567	106	21	risk	risk	NOUN
cjfa-12567	106	22	.	.	PUNCT
cjfa-12567	107	1	in	in	ADP
cjfa-12567	107	2	other	other	ADJ
cjfa-12567	107	3	words	word	NOUN
cjfa-12567	107	4	,	,	PUNCT
cjfa-12567	107	5	according	accord	VERB
cjfa-12567	107	6	to	to	ADP
cjfa-12567	107	7	the	the	DET
cjfa-12567	107	8	capm	capm	PROPN
cjfa-12567	107	9	theory	theory	NOUN
cjfa-12567	107	10	investing	invest	VERB
cjfa-12567	107	11	in	in	ADP
cjfa-12567	107	12	other	other	ADJ
cjfa-12567	107	13	than	than	ADP
cjfa-12567	107	14	market	market	NOUN
cjfa-12567	107	15	portfolio	portfolio	NOUN
cjfa-12567	107	16	would	would	AUX
cjfa-12567	107	17	expose	expose	VERB
cjfa-12567	107	18	investor	investor	NOUN
cjfa-12567	107	19	to	to	PART
cjfa-12567	107	20	unrewarded	unrewarded	VERB
cjfa-12567	107	21	risk	risk	NOUN
cjfa-12567	107	22	(	(	PUNCT
cjfa-12567	107	23	jajuga	jajuga	PROPN
cjfa-12567	107	24	,	,	PUNCT
cjfa-12567	107	25	2004	2004	NUM
cjfa-12567	107	26	)	)	PUNCT
cjfa-12567	107	27	.	.	PUNCT
cjfa-12567	108	1	in	in	ADP
cjfa-12567	108	2	early	early	ADJ
cjfa-12567	108	3	1970s	1970s	NUM
cjfa-12567	108	4	b.	b.	PROPN
cjfa-12567	108	5	malkiel	malkiel	PROPN
cjfa-12567	108	6	in	in	ADP
cjfa-12567	108	7	his	his	PRON
cjfa-12567	108	8	recognized	recognize	VERB
cjfa-12567	108	9	book	book	NOUN
cjfa-12567	108	10	‘	'	PUNCT
cjfa-12567	108	11	a	a	DET
cjfa-12567	108	12	 	 	SPACE
cjfa-12567	108	13	random	random	ADJ
cjfa-12567	108	14	walk	walk	VERB
cjfa-12567	108	15	down	down	ADP
cjfa-12567	108	16	wall	wall	PROPN
cjfa-12567	108	17	street	street	PROPN
cjfa-12567	108	18	’	'	PUNCT
cjfa-12567	108	19	(	(	PUNCT
cjfa-12567	108	20	malkiel	malkiel	ADJ
cjfa-12567	108	21	,	,	PUNCT
cjfa-12567	108	22	2011	2011	NUM
cjfa-12567	108	23	)	)	PUNCT
cjfa-12567	108	24	also	also	ADV
cjfa-12567	108	25	claimed	claim	VERB
cjfa-12567	108	26	that	that	SCONJ
cjfa-12567	108	27	,	,	PUNCT
cjfa-12567	108	28	buying	buy	VERB
cjfa-12567	108	29	the	the	DET
cjfa-12567	108	30	market	market	NOUN
cjfa-12567	108	31	is	be	AUX
cjfa-12567	108	32	better	well	ADJ
cjfa-12567	108	33	that	that	SCONJ
cjfa-12567	108	34	picking	pick	VERB
cjfa-12567	108	35	individual	individual	ADJ
cjfa-12567	108	36	stocks	stock	NOUN
cjfa-12567	108	37	.	.	PUNCT
cjfa-12567	109	1	circle	circle	NOUN
cjfa-12567	109	2	of	of	ADP
cjfa-12567	109	3	capm	capm	PROPN
cjfa-12567	109	4	theory	theory	NOUN
cjfa-12567	109	5	enthusiasts	enthusiast	NOUN
cjfa-12567	109	6	grew	grow	VERB
cjfa-12567	109	7	rapidly	rapidly	ADV
cjfa-12567	109	8	in	in	ADP
cjfa-12567	109	9	the	the	DET
cjfa-12567	109	10	1970s	1970	NOUN
cjfa-12567	109	11	and	and	CCONJ
cjfa-12567	109	12	the	the	DET
cjfa-12567	109	13	first	first	ADJ
cjfa-12567	109	14	cap	cap	NOUN
cjfa-12567	109	15	-	-	PUNCT
cjfa-12567	109	16	weighted	weight	VERB
cjfa-12567	109	17	index	index	NOUN
cjfa-12567	109	18	mutual	mutual	ADJ
cjfa-12567	109	19	fund	fund	NOUN
cjfa-12567	109	20	was	be	AUX
cjfa-12567	109	21	introduced	introduce	VERB
cjfa-12567	109	22	in	in	ADP
cjfa-12567	109	23	1975	1975	NUM
cjfa-12567	109	24	by	by	ADP
cjfa-12567	109	25	vanguard	vanguard	PROPN
cjfa-12567	109	26	group	group	PROPN
cjfa-12567	109	27	(	(	PUNCT
cjfa-12567	109	28	hill	hill	NOUN
cjfa-12567	109	29	et	et	PROPN
cjfa-12567	109	30	al	al	PROPN
cjfa-12567	109	31	.	.	PROPN
cjfa-12567	109	32	,	,	PUNCT
cjfa-12567	109	33	2015	2015	NUM
cjfa-12567	109	34	)	)	PUNCT
cjfa-12567	109	35	.	.	PUNCT
cjfa-12567	110	1	shortcomings	shortcoming	NOUN
cjfa-12567	110	2	of	of	ADP
cjfa-12567	110	3	cap	cap	NOUN
cjfa-12567	110	4	-	-	PUNCT
cjfa-12567	110	5	weighted	weight	VERB
cjfa-12567	110	6	indexing	indexing	NOUN
cjfa-12567	110	7	40	40	NUM
cjfa-12567	110	8	years	year	NOUN
cjfa-12567	110	9	after	after	ADP
cjfa-12567	110	10	introduction	introduction	NOUN
cjfa-12567	110	11	of	of	ADP
cjfa-12567	110	12	cap	cap	NOUN
cjfa-12567	110	13	-	-	PUNCT
cjfa-12567	110	14	weighted	weight	VERB
cjfa-12567	110	15	indexing	indexing	NOUN
cjfa-12567	110	16	,	,	PUNCT
cjfa-12567	110	17	it	it	PRON
cjfa-12567	110	18	is	be	AUX
cjfa-12567	110	19	no	no	ADV
cjfa-12567	110	20	longer	long	ADV
cjfa-12567	110	21	clear	clear	ADJ
cjfa-12567	110	22	that	that	SCONJ
cjfa-12567	110	23	this	this	PRON
cjfa-12567	110	24	is	be	AUX
cjfa-12567	110	25	the	the	DET
cjfa-12567	110	26	only	only	ADJ
cjfa-12567	110	27	one	one	NUM
cjfa-12567	110	28	legitimate	legitimate	ADJ
cjfa-12567	110	29	choice	choice	NOUN
cjfa-12567	110	30	of	of	ADP
cjfa-12567	110	31	portfolio	portfolio	NOUN
cjfa-12567	110	32	creation	creation	NOUN
cjfa-12567	110	33	.	.	PUNCT
cjfa-12567	111	1	cap	cap	NOUN
cjfa-12567	111	2	–	–	PUNCT
cjfa-12567	111	3	weighting	weighting	NOUN
cjfa-12567	111	4	would	would	AUX
cjfa-12567	111	5	be	be	AUX
cjfa-12567	111	6	great	great	ADJ
cjfa-12567	111	7	solution	solution	NOUN
cjfa-12567	111	8	for	for	ADP
cjfa-12567	111	9	efficient	efficient	ADJ
cjfa-12567	111	10	markets	market	NOUN
cjfa-12567	111	11	.	.	PUNCT
cjfa-12567	112	1	obviously	obviously	ADV
cjfa-12567	112	2	markets	market	NOUN
cjfa-12567	112	3	are	be	AUX
cjfa-12567	112	4	inefficient	inefficient	ADJ
cjfa-12567	112	5	,	,	PUNCT
cjfa-12567	112	6	so	so	ADV
cjfa-12567	112	7	holding	hold	VERB
cjfa-12567	112	8	a	a	DET
cjfa-12567	112	9	portfolio	portfolio	NOUN
cjfa-12567	112	10	of	of	ADP
cjfa-12567	112	11	stocks	stock	NOUN
cjfa-12567	112	12	weighted	weight	VERB
cjfa-12567	112	13	proportionally	proportionally	ADV
cjfa-12567	112	14	to	to	ADP
cjfa-12567	112	15	their	their	PRON
cjfa-12567	112	16	capitalization	capitalization	NOUN
cjfa-12567	112	17	will	will	AUX
cjfa-12567	112	18	end	end	VERB
cjfa-12567	112	19	with	with	ADP
cjfa-12567	112	20	overweighting	overweighte	VERB
cjfa-12567	112	21	the	the	DET
cjfa-12567	112	22	overpriced	overpriced	ADJ
cjfa-12567	112	23	stocks	stock	NOUN
cjfa-12567	112	24	and	and	CCONJ
cjfa-12567	112	25	underweighting	underweighte	VERB
cjfa-12567	112	26	the	the	DET
cjfa-12567	112	27	underpriced	underpriced	ADJ
cjfa-12567	112	28	stocks	stock	NOUN
cjfa-12567	112	29	(	(	PUNCT
cjfa-12567	112	30	arnott	arnott	PROPN
cjfa-12567	112	31	et	et	PROPN
cjfa-12567	112	32	al	al	PROPN
cjfa-12567	112	33	.	.	PROPN
cjfa-12567	112	34	,	,	PUNCT
cjfa-12567	112	35	2010	2010	NUM
cjfa-12567	112	36	)	)	PUNCT
cjfa-12567	112	37	.	.	PUNCT
cjfa-12567	113	1	literature	literature	NOUN
cjfa-12567	113	2	describes	describe	VERB
cjfa-12567	113	3	two	two	NUM
cjfa-12567	113	4	potential	potential	ADJ
cjfa-12567	113	5	draw	draw	NOUN
cjfa-12567	113	6	backs	back	NOUN
cjfa-12567	113	7	concerning	concern	VERB
cjfa-12567	113	8	cap	cap	NOUN
cjfa-12567	113	9	-	-	PUNCT
cjfa-12567	113	10	weighted	weight	VERB
cjfa-12567	113	11	indices	index	NOUN
cjfa-12567	113	12	:	:	PUNCT
cjfa-12567	113	13	tilt	tilt	NOUN
cjfa-12567	113	14	to	to	ADP
cjfa-12567	113	15	potential	potential	ADJ
cjfa-12567	113	16	unrewarded	unrewarded	ADJ
cjfa-12567	113	17	risk	risk	NOUN
cjfa-12567	113	18	factors	factor	NOUN
cjfa-12567	113	19	and	and	CCONJ
cjfa-12567	113	20	potential	potential	ADJ
cjfa-12567	113	21	lack	lack	NOUN
cjfa-12567	113	22	of	of	ADP
cjfa-12567	113	23	diversification	diversification	NOUN
cjfa-12567	113	24	.	.	PUNCT
cjfa-12567	114	1	market	market	NOUN
cjfa-12567	114	2	indices	index	NOUN
cjfa-12567	114	3	tend	tend	VERB
cjfa-12567	114	4	to	to	PART
cjfa-12567	114	5	tilt	tilt	VERB
cjfa-12567	114	6	their	their	PRON
cjfa-12567	114	7	exposure	exposure	NOUN
cjfa-12567	114	8	towards	towards	ADP
cjfa-12567	114	9	stocks	stock	NOUN
cjfa-12567	114	10	with	with	ADP
cjfa-12567	114	11	the	the	DET
cjfa-12567	114	12	largest	large	ADJ
cjfa-12567	114	13	capitalization	capitalization	NOUN
cjfa-12567	114	14	and	and	CCONJ
cjfa-12567	114	15	growth	growth	NOUN
cjfa-12567	114	16	stocks	stock	NOUN
cjfa-12567	114	17	(	(	PUNCT
cjfa-12567	114	18	autier	autier	NOUN
cjfa-12567	114	19	et	et	PROPN
cjfa-12567	114	20	al	al	PROPN
cjfa-12567	114	21	.	.	PROPN
cjfa-12567	114	22	,	,	PUNCT
cjfa-12567	114	23	2016	2016	NUM
cjfa-12567	114	24	)	)	PUNCT
cjfa-12567	114	25	.	.	PUNCT
cjfa-12567	115	1	regarding	regard	VERB
cjfa-12567	115	2	to	to	ADP
cjfa-12567	115	3	fama	fama	PROPN
cjfa-12567	115	4	and	and	CCONJ
cjfa-12567	115	5	french	french	ADJ
cjfa-12567	115	6	exact	exact	NOUN
cjfa-12567	115	7	opposite	opposite	ADJ
cjfa-12567	115	8	portfolio	portfolio	NOUN
cjfa-12567	115	9	is	be	AUX
cjfa-12567	115	10	more	more	ADV
cjfa-12567	115	11	eager	eager	ADJ
cjfa-12567	115	12	to	to	PART
cjfa-12567	115	13	outperforme	outperforme	VERB
cjfa-12567	115	14	the	the	DET
cjfa-12567	115	15	market	market	NOUN
cjfa-12567	115	16	.	.	PUNCT
cjfa-12567	116	1	portfolio	portfolio	NOUN
cjfa-12567	116	2	tilted	tilt	VERB
cjfa-12567	116	3	more	more	ADV
cjfa-12567	116	4	towards	towards	ADP
cjfa-12567	116	5	small	small	ADJ
cjfa-12567	116	6	capitalization	capitalization	NOUN
cjfa-12567	116	7	and	and	CCONJ
cjfa-12567	116	8	value	value	NOUN
cjfa-12567	116	9	stocks	stock	NOUN
cjfa-12567	116	10	(	(	PUNCT
cjfa-12567	116	11	fama	fama	PROPN
cjfa-12567	116	12	&	&	CCONJ
cjfa-12567	116	13	french	french	PROPN
cjfa-12567	116	14	,	,	PUNCT
cjfa-12567	116	15	1993	1993	NUM
cjfa-12567	116	16	)	)	PUNCT
cjfa-12567	116	17	.	.	PUNCT
cjfa-12567	117	1	to	to	PART
cjfa-12567	117	2	minimize	minimize	VERB
cjfa-12567	117	3	the	the	DET
cjfa-12567	117	4	risk	risk	NOUN
cjfa-12567	117	5	investors	investor	NOUN
cjfa-12567	117	6	are	be	AUX
cjfa-12567	117	7	looking	look	VERB
cjfa-12567	117	8	for	for	ADP
cjfa-12567	117	9	well	well	ADV
cjfa-12567	117	10	diversified	diversify	VERB
cjfa-12567	117	11	portfolios	portfolio	NOUN
cjfa-12567	117	12	.	.	PUNCT
cjfa-12567	118	1	what	what	PRON
cjfa-12567	118	2	is	be	AUX
cjfa-12567	118	3	interesting	interesting	ADJ
cjfa-12567	118	4	,	,	PUNCT
cjfa-12567	118	5	cap	cap	NOUN
cjfa-12567	118	6	-	-	PUNCT
cjfa-12567	118	7	weighted	weight	VERB
cjfa-12567	118	8	indices	index	NOUN
cjfa-12567	118	9	,	,	PUNCT
cjfa-12567	118	10	which	which	PRON
cjfa-12567	118	11	are	be	AUX
cjfa-12567	118	12	considered	consider	VERB
cjfa-12567	118	13	as	as	ADP
cjfa-12567	118	14	diversified	diversified	ADJ
cjfa-12567	118	15	,	,	PUNCT
cjfa-12567	118	16	are	be	AUX
cjfa-12567	118	17	indeed	indeed	ADV
cjfa-12567	118	18	concentrated	concentrate	VERB
cjfa-12567	118	19	on	on	ADP
cjfa-12567	118	20	the	the	DET
cjfa-12567	118	21	largest	large	ADJ
cjfa-12567	118	22	companies	company	NOUN
cjfa-12567	118	23	and	and	CCONJ
cjfa-12567	118	24	most	most	ADJ
cjfa-12567	118	25	of	of	ADP
cjfa-12567	118	26	their	their	PRON
cjfa-12567	118	27	holdings	holding	NOUN
cjfa-12567	118	28	are	be	AUX
cjfa-12567	118	29	stocks	stock	NOUN
cjfa-12567	118	30	with	with	ADP
cjfa-12567	118	31	a	a	DET
cjfa-12567	118	32	largest	large	ADJ
cjfa-12567	118	33	capitalization	capitalization	NOUN
cjfa-12567	118	34	.	.	PUNCT
cjfa-12567	119	1	above	above	ADP
cjfa-12567	119	2	mentioned	mention	VERB
cjfa-12567	119	3	shortcomings	shortcoming	NOUN
cjfa-12567	119	4	are	be	AUX
cjfa-12567	119	5	obviously	obviously	ADV
cjfa-12567	119	6	the	the	DET
cjfa-12567	119	7	reason	reason	NOUN
cjfa-12567	119	8	why	why	SCONJ
cjfa-12567	119	9	alternative	alternative	ADJ
cjfa-12567	119	10	weighing	weigh	VERB
cjfa-12567	119	11	schemes	scheme	NOUN
cjfa-12567	119	12	were	be	AUX
cjfa-12567	119	13	developed	develop	VERB
cjfa-12567	119	14	.	.	PUNCT
cjfa-12567	120	1	quantitative	quantitative	ADJ
cjfa-12567	120	2	investing	investing	NOUN
cjfa-12567	120	3	–	–	PUNCT
cjfa-12567	120	4	the	the	DET
cjfa-12567	120	5	rise	rise	NOUN
cjfa-12567	120	6	of	of	ADP
cjfa-12567	120	7	smart	smart	ADJ
cjfa-12567	120	8	beta	beta	NOUN
cjfa-12567	120	9	since	since	SCONJ
cjfa-12567	120	10	1923	1923	NUM
cjfa-12567	120	11	when	when	SCONJ
cjfa-12567	120	12	standard	standard	PROPN
cjfa-12567	120	13	&	&	CCONJ
cjfa-12567	120	14	poor	poor	PROPN
cjfa-12567	120	15	’s	’s	PART
cjfa-12567	120	16	introduced	introduce	VERB
cjfa-12567	120	17	firs	fir	NOUN
cjfa-12567	120	18	cap	cap	NOUN
cjfa-12567	120	19	-	-	PUNCT
cjfa-12567	120	20	weighted	weight	VERB
cjfa-12567	120	21	index	index	NOUN
cjfa-12567	120	22	,	,	PUNCT
cjfa-12567	120	23	those	those	DET
cjfa-12567	120	24	indices	index	NOUN
cjfa-12567	120	25	have	have	AUX
cjfa-12567	120	26	dominated	dominate	VERB
cjfa-12567	120	27	the	the	DET
cjfa-12567	120	28	equity	equity	NOUN
cjfa-12567	120	29	market	market	NOUN
cjfa-12567	120	30	.	.	PUNCT
cjfa-12567	121	1	indices	index	NOUN
cjfa-12567	121	2	became	become	VERB
cjfa-12567	121	3	an	an	DET
cjfa-12567	121	4	integral	integral	ADJ
cjfa-12567	121	5	part	part	NOUN
cjfa-12567	121	6	of	of	ADP
cjfa-12567	121	7	long	long	ADJ
cjfa-12567	121	8	term	term	NOUN
cjfa-12567	121	9	investing	investing	NOUN
cjfa-12567	121	10	strategies	strategy	NOUN
cjfa-12567	121	11	and	and	CCONJ
cjfa-12567	121	12	are	be	AUX
cjfa-12567	121	13	commonly	commonly	ADV
cjfa-12567	121	14	used	use	VERB
cjfa-12567	121	15	by	by	ADP
cjfa-12567	121	16	individual	individual	NOUN
cjfa-12567	121	17	as	as	ADV
cjfa-12567	121	18	well	well	ADV
cjfa-12567	121	19	as	as	ADP
cjfa-12567	121	20	institutional	institutional	ADJ
cjfa-12567	121	21	investors	investor	NOUN
cjfa-12567	121	22	.	.	PUNCT
cjfa-12567	122	1	choosing	choose	VERB
cjfa-12567	122	2	a	a	DET
cjfa-12567	122	3	right	right	ADJ
cjfa-12567	122	4	index	index	NOUN
cjfa-12567	122	5	became	become	VERB
cjfa-12567	122	6	a	a	DET
cjfa-12567	122	7	crucial	crucial	ADJ
cjfa-12567	122	8	part	part	NOUN
cjfa-12567	122	9	of	of	ADP
cjfa-12567	122	10	invest	invest	VERB
cjfa-12567	122	11	implementation	implementation	NOUN
cjfa-12567	122	12	of	of	ADP
cjfa-12567	122	13	alternative	alternative	ADJ
cjfa-12567	122	14	index	index	NOUN
cjfa-12567	122	15	weighting	weighting	NOUN
cjfa-12567	122	16	…	…	PUNCT
cjfa-12567	122	17	169	169	NUM
cjfa-12567	122	18	ment	ment	NOUN
cjfa-12567	122	19	process	process	NOUN
cjfa-12567	122	20	.	.	PUNCT
cjfa-12567	123	1	in	in	ADP
cjfa-12567	123	2	view	view	NOUN
cjfa-12567	123	3	of	of	ADP
cjfa-12567	123	4	shortcomings	shortcoming	NOUN
cjfa-12567	123	5	of	of	ADP
cjfa-12567	123	6	cap	cap	NOUN
cjfa-12567	123	7	-	-	PUNCT
cjfa-12567	123	8	weighted	weight	VERB
cjfa-12567	123	9	indices	index	NOUN
cjfa-12567	123	10	and	and	CCONJ
cjfa-12567	123	11	growing	grow	VERB
cjfa-12567	123	12	need	need	NOUN
cjfa-12567	123	13	for	for	SCONJ
cjfa-12567	123	14	investment	investment	NOUN
cjfa-12567	123	15	vehicles	vehicle	NOUN
cjfa-12567	123	16	to	to	PART
cjfa-12567	123	17	be	be	AUX
cjfa-12567	123	18	more	more	ADV
cjfa-12567	123	19	flexible	flexible	ADJ
cjfa-12567	123	20	and	and	CCONJ
cjfa-12567	123	21	reflects	reflect	VERB
cjfa-12567	123	22	current	current	ADJ
cjfa-12567	123	23	investor	investor	NOUN
cjfa-12567	123	24	point	point	NOUN
cjfa-12567	123	25	of	of	ADP
cjfa-12567	123	26	view	view	NOUN
cjfa-12567	123	27	,	,	PUNCT
cjfa-12567	123	28	alternative	alternative	ADJ
cjfa-12567	123	29	weighting	weight	VERB
cjfa-12567	123	30	schemes	scheme	NOUN
cjfa-12567	123	31	have	have	AUX
cjfa-12567	123	32	been	be	AUX
cjfa-12567	123	33	constructed	construct	VERB
cjfa-12567	123	34	.	.	PUNCT
cjfa-12567	124	1	nowadays	nowadays	ADV
cjfa-12567	124	2	,	,	PUNCT
cjfa-12567	124	3	investors	investor	NOUN
cjfa-12567	124	4	have	have	VERB
cjfa-12567	124	5	a	a	DET
cjfa-12567	124	6	wide	wide	ADJ
cjfa-12567	124	7	range	range	NOUN
cjfa-12567	124	8	of	of	ADP
cjfa-12567	124	9	many	many	ADJ
cjfa-12567	124	10	different	different	ADJ
cjfa-12567	124	11	schemes	scheme	NOUN
cjfa-12567	124	12	to	to	PART
cjfa-12567	124	13	choose	choose	VERB
cjfa-12567	124	14	from	from	ADP
cjfa-12567	124	15	.	.	PUNCT
cjfa-12567	125	1	each	each	PRON
cjfa-12567	125	2	of	of	ADP
cjfa-12567	125	3	them	they	PRON
cjfa-12567	125	4	has	have	VERB
cjfa-12567	125	5	different	different	ADJ
cjfa-12567	125	6	objectives	objective	NOUN
cjfa-12567	125	7	,	,	PUNCT
cjfa-12567	125	8	but	but	CCONJ
cjfa-12567	125	9	all	all	PRON
cjfa-12567	125	10	have	have	VERB
cjfa-12567	125	11	two	two	NUM
cjfa-12567	125	12	advantages	advantage	NOUN
cjfa-12567	125	13	in	in	ADP
cjfa-12567	125	14	common	common	ADJ
cjfa-12567	125	15	:	:	PUNCT
cjfa-12567	125	16	transparency	transparency	NOUN
cjfa-12567	125	17	and	and	CCONJ
cjfa-12567	125	18	attractive	attractive	ADJ
cjfa-12567	125	19	risk	risk	NOUN
cjfa-12567	125	20	/	/	SYM
cjfa-12567	125	21	reward	reward	NOUN
cjfa-12567	125	22	ratio	ratio	NOUN
cjfa-12567	125	23	(	(	PUNCT
cjfa-12567	125	24	amenc	amenc	PROPN
cjfa-12567	125	25	et	et	PROPN
cjfa-12567	125	26	al	al	PROPN
cjfa-12567	125	27	.	.	PROPN
cjfa-12567	125	28	,	,	PUNCT
cjfa-12567	125	29	2010	2010	NUM
cjfa-12567	125	30	)	)	PUNCT
cjfa-12567	125	31	.	.	PUNCT
cjfa-12567	126	1	constructing	construct	VERB
cjfa-12567	126	2	an	an	DET
cjfa-12567	126	3	index	index	NOUN
cjfa-12567	126	4	require	require	VERB
cjfa-12567	126	5	two	two	NUM
cjfa-12567	126	6	fundamental	fundamental	ADJ
cjfa-12567	126	7	questions	question	NOUN
cjfa-12567	126	8	to	to	PART
cjfa-12567	126	9	be	be	AUX
cjfa-12567	126	10	answered	answer	VERB
cjfa-12567	126	11	:	:	PUNCT
cjfa-12567	126	12	which	which	DET
cjfa-12567	126	13	stocks	stock	NOUN
cjfa-12567	126	14	should	should	AUX
cjfa-12567	126	15	be	be	AUX
cjfa-12567	126	16	included	include	VERB
cjfa-12567	126	17	?	?	PUNCT
cjfa-12567	127	1	and	and	CCONJ
cjfa-12567	127	2	which	which	PRON
cjfa-12567	127	3	weighting	weight	VERB
cjfa-12567	127	4	scheme	scheme	NOUN
cjfa-12567	127	5	should	should	AUX
cjfa-12567	127	6	be	be	AUX
cjfa-12567	127	7	used	use	VERB
cjfa-12567	127	8	?	?	PUNCT
cjfa-12567	128	1	when	when	SCONJ
cjfa-12567	128	2	number	number	NOUN
cjfa-12567	128	3	and	and	CCONJ
cjfa-12567	128	4	kind	kind	NOUN
cjfa-12567	128	5	of	of	ADP
cjfa-12567	128	6	stocks	stock	NOUN
cjfa-12567	128	7	is	be	AUX
cjfa-12567	128	8	defined	define	VERB
cjfa-12567	128	9	,	,	PUNCT
cjfa-12567	128	10	there	there	PRON
cjfa-12567	128	11	is	be	VERB
cjfa-12567	128	12	a	a	DET
cjfa-12567	128	13	time	time	NOUN
cjfa-12567	128	14	to	to	PART
cjfa-12567	128	15	decide	decide	VERB
cjfa-12567	128	16	which	which	DET
cjfa-12567	128	17	scheme	scheme	NOUN
cjfa-12567	128	18	will	will	AUX
cjfa-12567	128	19	be	be	AUX
cjfa-12567	128	20	suitable	suitable	ADJ
cjfa-12567	128	21	for	for	ADP
cjfa-12567	128	22	chosen	choose	VERB
cjfa-12567	128	23	stocks	stock	NOUN
cjfa-12567	128	24	.	.	PUNCT
cjfa-12567	129	1	unlike	unlike	ADP
cjfa-12567	129	2	capm	capm	PROPN
cjfa-12567	129	3	,	,	PUNCT
cjfa-12567	129	4	which	which	PRON
cjfa-12567	129	5	both	both	CCONJ
cjfa-12567	129	6	those	those	DET
cjfa-12567	129	7	question	question	NOUN
cjfa-12567	129	8	would	would	AUX
cjfa-12567	129	9	answer	answer	VERB
cjfa-12567	129	10	with	with	ADP
cjfa-12567	129	11	market	market	NOUN
cjfa-12567	129	12	capitalization	capitalization	NOUN
cjfa-12567	129	13	,	,	PUNCT
cjfa-12567	129	14	alternative	alternative	ADJ
cjfa-12567	129	15	methodologies	methodology	NOUN
cjfa-12567	129	16	consider	consider	VERB
cjfa-12567	129	17	:	:	PUNCT
cjfa-12567	129	18	■	■	PUNCT
cjfa-12567	129	19	different	different	ADJ
cjfa-12567	129	20	allocation	allocation	NOUN
cjfa-12567	129	21	techniques	technique	NOUN
cjfa-12567	129	22	,	,	PUNCT
cjfa-12567	129	23	■	■	PUNCT
cjfa-12567	129	24	additional	additional	ADJ
cjfa-12567	129	25	risk	risk	NOUN
cjfa-12567	129	26	premium	premium	NOUN
cjfa-12567	129	27	,	,	PUNCT
cjfa-12567	129	28	■	■	PUNCT
cjfa-12567	129	29	exposure	exposure	NOUN
cjfa-12567	129	30	to	to	ADP
cjfa-12567	129	31	undervaluated	undervaluate	VERB
cjfa-12567	129	32	assets	asset	NOUN
cjfa-12567	129	33	,	,	PUNCT
cjfa-12567	129	34	■	■	PUNCT
cjfa-12567	129	35	use	use	NOUN
cjfa-12567	129	36	of	of	ADP
cjfa-12567	129	37	other	other	ADJ
cjfa-12567	129	38	than	than	SCONJ
cjfa-12567	129	39	buy	buy	VERB
cjfa-12567	129	40	and	and	CCONJ
cjfa-12567	129	41	hold	hold	VERB
cjfa-12567	129	42	strategies	strategy	NOUN
cjfa-12567	129	43	(	(	PUNCT
cjfa-12567	129	44	amenc	amenc	NOUN
cjfa-12567	129	45	et	et	PROPN
cjfa-12567	129	46	al	al	PROPN
cjfa-12567	129	47	.	.	PROPN
cjfa-12567	129	48	,	,	PUNCT
cjfa-12567	129	49	2008	2008	NUM
cjfa-12567	129	50	)	)	PUNCT
cjfa-12567	129	51	.	.	PUNCT
cjfa-12567	130	1	the	the	DET
cjfa-12567	130	2	strategy	strategy	NOUN
cjfa-12567	130	3	that	that	PRON
cjfa-12567	130	4	differs	differ	VERB
cjfa-12567	130	5	from	from	ADP
cjfa-12567	130	6	the	the	DET
cjfa-12567	130	7	traditional	traditional	ADJ
cjfa-12567	130	8	market	market	NOUN
cjfa-12567	130	9	capitalization	capitalization	NOUN
cjfa-12567	130	10	index	index	NOUN
cjfa-12567	130	11	weighting	weighting	NOUN
cjfa-12567	130	12	is	be	AUX
cjfa-12567	130	13	smart	smart	ADJ
cjfa-12567	130	14	beta	beta	NOUN
cjfa-12567	130	15	.	.	PUNCT
cjfa-12567	131	1	what	what	PRON
cjfa-12567	131	2	exactly	exactly	ADV
cjfa-12567	131	3	is	be	AUX
cjfa-12567	131	4	smart	smart	ADJ
cjfa-12567	131	5	beta	beta	NOUN
cjfa-12567	131	6	?	?	PUNCT
cjfa-12567	132	1	recently	recently	ADV
cjfa-12567	132	2	the	the	DET
cjfa-12567	132	3	literature	literature	NOUN
cjfa-12567	132	4	defines	define	VERB
cjfa-12567	132	5	it	it	PRON
cjfa-12567	132	6	various	various	ADJ
cjfa-12567	132	7	.	.	PUNCT
cjfa-12567	133	1	definitely	definitely	ADV
cjfa-12567	133	2	,	,	PUNCT
cjfa-12567	133	3	two	two	NUM
cjfa-12567	133	4	of	of	ADP
cjfa-12567	133	5	them	they	PRON
cjfa-12567	133	6	are	be	AUX
cjfa-12567	133	7	worth	worth	ADJ
cjfa-12567	133	8	to	to	PART
cjfa-12567	133	9	quote	quote	VERB
cjfa-12567	133	10	.	.	PUNCT
cjfa-12567	134	1	first	first	ADJ
cjfa-12567	134	2	one	one	NUM
cjfa-12567	134	3	,	,	PUNCT
cjfa-12567	134	4	used	use	VERB
cjfa-12567	134	5	by	by	ADP
cjfa-12567	134	6	blackrock	blackrock	NOUN
cjfa-12567	134	7	:	:	PUNCT
cjfa-12567	134	8	“	"	PUNCT
cjfa-12567	134	9	smart	smart	ADJ
cjfa-12567	134	10	beta	beta	NOUN
cjfa-12567	134	11	seeks	seek	VERB
cjfa-12567	134	12	to	to	PART
cjfa-12567	134	13	improve	improve	VERB
cjfa-12567	134	14	returns	return	NOUN
cjfa-12567	134	15	,	,	PUNCT
cjfa-12567	134	16	reduce	reduce	VERB
cjfa-12567	134	17	risks	risk	NOUN
cjfa-12567	134	18	and	and	CCONJ
cjfa-12567	134	19	enhance	enhance	VERB
cjfa-12567	134	20	diversification	diversification	NOUN
cjfa-12567	134	21	for	for	ADP
cjfa-12567	134	22	investors	investor	NOUN
cjfa-12567	134	23	by	by	ADP
cjfa-12567	134	24	delivering	deliver	VERB
cjfa-12567	134	25	exposure	exposure	NOUN
cjfa-12567	134	26	to	to	ADP
cjfa-12567	134	27	systematic	systematic	ADJ
cjfa-12567	134	28	investment	investment	NOUN
cjfa-12567	134	29	factors	factor	NOUN
cjfa-12567	134	30	.	.	PUNCT
cjfa-12567	135	1	by	by	ADP
cjfa-12567	135	2	combining	combine	VERB
cjfa-12567	135	3	characteristics	characteristic	NOUN
cjfa-12567	135	4	of	of	ADP
cjfa-12567	135	5	both	both	CCONJ
cjfa-12567	135	6	passive	passive	ADJ
cjfa-12567	135	7	and	and	CCONJ
cjfa-12567	135	8	active	active	ADJ
cjfa-12567	135	9	investing	investing	NOUN
cjfa-12567	135	10	,	,	PUNCT
cjfa-12567	135	11	smart	smart	ADJ
cjfa-12567	135	12	beta	beta	NOUN
cjfa-12567	135	13	strategies	strategy	NOUN
cjfa-12567	135	14	allow	allow	VERB
cjfa-12567	135	15	investors	investor	NOUN
cjfa-12567	135	16	to	to	PART
cjfa-12567	135	17	retain	retain	VERB
cjfa-12567	135	18	many	many	ADJ
cjfa-12567	135	19	benefits	benefit	NOUN
cjfa-12567	135	20	of	of	ADP
cjfa-12567	135	21	passive	passive	ADJ
cjfa-12567	135	22	strategies	strategy	NOUN
cjfa-12567	135	23	while	while	SCONJ
cjfa-12567	135	24	seeking	seek	VERB
cjfa-12567	135	25	improved	improved	ADJ
cjfa-12567	135	26	returns	return	NOUN
cjfa-12567	135	27	or	or	CCONJ
cjfa-12567	135	28	reduced	reduce	VERB
cjfa-12567	135	29	risk	risk	NOUN
cjfa-12567	135	30	.	.	PUNCT
cjfa-12567	136	1	smart	smart	ADJ
cjfa-12567	136	2	beta	beta	NOUN
cjfa-12567	136	3	is	be	AUX
cjfa-12567	136	4	not	not	PART
cjfa-12567	136	5	simply	simply	ADV
cjfa-12567	136	6	a	a	DET
cjfa-12567	136	7	fund	fund	NOUN
cjfa-12567	136	8	or	or	CCONJ
cjfa-12567	136	9	strategy	strategy	NOUN
cjfa-12567	136	10	—	—	PUNCT
cjfa-12567	136	11	it	it	PRON
cjfa-12567	136	12	’s	’	VERB
cjfa-12567	136	13	a	a	DET
cjfa-12567	136	14	different	different	ADJ
cjfa-12567	136	15	way	way	NOUN
cjfa-12567	136	16	of	of	ADP
cjfa-12567	136	17	thinking	think	VERB
cjfa-12567	136	18	about	about	ADP
cjfa-12567	136	19	investing	invest	VERB
cjfa-12567	136	20	beyond	beyond	ADP
cjfa-12567	136	21	traditional	traditional	ADJ
cjfa-12567	136	22	active	active	ADJ
cjfa-12567	136	23	and	and	CCONJ
cjfa-12567	136	24	passive	passive	ADJ
cjfa-12567	136	25	management	management	NOUN
cjfa-12567	136	26	”	"	PUNCT
cjfa-12567	136	27	(	(	PUNCT
cjfa-12567	136	28	shores	shore	NOUN
cjfa-12567	136	29	,	,	PUNCT
cjfa-12567	136	30	2015	2015	NUM
cjfa-12567	136	31	)	)	PUNCT
cjfa-12567	136	32	.	.	PUNCT
cjfa-12567	137	1	second	second	ADJ
cjfa-12567	137	2	definition	definition	NOUN
cjfa-12567	137	3	,	,	PUNCT
cjfa-12567	137	4	more	more	ADV
cjfa-12567	137	5	reserved	reserved	ADJ
cjfa-12567	137	6	about	about	ADP
cjfa-12567	137	7	the	the	DET
cjfa-12567	137	8	new	new	ADJ
cjfa-12567	137	9	weighting	weighting	NOUN
cjfa-12567	137	10	methodology	methodology	NOUN
cjfa-12567	137	11	by	by	ADP
cjfa-12567	137	12	malkiel	malkiel	PROPN
cjfa-12567	137	13	:	:	PUNCT
cjfa-12567	137	14	“	"	PUNCT
cjfa-12567	137	15	what	what	PRON
cjfa-12567	137	16	most	most	ADJ
cjfa-12567	137	17	people	people	NOUN
cjfa-12567	137	18	who	who	PRON
cjfa-12567	137	19	use	use	VERB
cjfa-12567	137	20	the	the	DET
cjfa-12567	137	21	term	term	NOUN
cjfa-12567	137	22	have	have	AUX
cjfa-12567	137	23	in	in	ADP
cjfa-12567	137	24	mind	mind	NOUN
cjfa-12567	137	25	is	be	AUX
cjfa-12567	137	26	that	that	SCONJ
cjfa-12567	137	27	it	it	PRON
cjfa-12567	137	28	may	may	AUX
cjfa-12567	137	29	be	be	AUX
cjfa-12567	137	30	possible	possible	ADJ
cjfa-12567	137	31	to	to	PART
cjfa-12567	137	32	gain	gain	VERB
cjfa-12567	137	33	excess	excess	ADJ
cjfa-12567	137	34	(	(	PUNCT
cjfa-12567	137	35	greater	great	ADJ
cjfa-12567	137	36	than	than	ADP
cjfa-12567	137	37	market	market	NOUN
cjfa-12567	137	38	)	)	PUNCT
cjfa-12567	137	39	returns	return	NOUN
cjfa-12567	137	40	by	by	ADP
cjfa-12567	137	41	using	use	VERB
cjfa-12567	137	42	a	a	DET
cjfa-12567	137	43	variety	variety	NOUN
cjfa-12567	137	44	of	of	ADP
cjfa-12567	137	45	relatively	relatively	ADV
cjfa-12567	137	46	passive	passive	ADJ
cjfa-12567	137	47	investment	investment	NOUN
cjfa-12567	137	48	strategies	strategy	NOUN
cjfa-12567	137	49	that	that	PRON
cjfa-12567	137	50	involve	involve	VERB
cjfa-12567	137	51	no	no	DET
cjfa-12567	137	52	more	more	ADJ
cjfa-12567	137	53	risk	risk	NOUN
cjfa-12567	137	54	than	than	SCONJ
cjfa-12567	137	55	would	would	AUX
cjfa-12567	137	56	be	be	AUX
cjfa-12567	137	57	assumed	assume	VERB
cjfa-12567	137	58	by	by	ADP
cjfa-12567	137	59	investing	invest	VERB
cjfa-12567	137	60	in	in	ADP
cjfa-12567	137	61	a	a	DET
cjfa-12567	137	62	low	low	ADJ
cjfa-12567	137	63	-	-	PUNCT
cjfa-12567	137	64	cost	cost	NOUN
cjfa-12567	137	65	total	total	ADJ
cjfa-12567	137	66	stock	stock	NOUN
cjfa-12567	137	67	market	market	NOUN
cjfa-12567	137	68	index	index	NOUN
cjfa-12567	137	69	fund	fund	NOUN
cjfa-12567	137	70	”	"	PUNCT
cjfa-12567	137	71	(	(	PUNCT
cjfa-12567	137	72	malkiel	malkiel	ADJ
cjfa-12567	137	73	,	,	PUNCT
cjfa-12567	137	74	2015	2015	NUM
cjfa-12567	137	75	)	)	PUNCT
cjfa-12567	137	76	.	.	PUNCT
cjfa-12567	138	1	smart	smart	ADJ
cjfa-12567	138	2	beta	beta	NOUN
cjfa-12567	138	3	definitely	definitely	ADV
cjfa-12567	138	4	revolutionized	revolutionize	VERB
cjfa-12567	138	5	asset	asset	NOUN
cjfa-12567	138	6	management	management	NOUN
cjfa-12567	138	7	business	business	NOUN
cjfa-12567	138	8	.	.	PUNCT
cjfa-12567	139	1	over	over	ADP
cjfa-12567	139	2	last	last	ADJ
cjfa-12567	139	3	couple	couple	NOUN
cjfa-12567	139	4	years	year	NOUN
cjfa-12567	139	5	smart	smart	ADJ
cjfa-12567	139	6	beta	beta	NOUN
cjfa-12567	139	7	etfs	etfs	PROPN
cjfa-12567	139	8	experienced	experience	VERB
cjfa-12567	139	9	an	an	DET
cjfa-12567	139	10	epic	epic	ADJ
cjfa-12567	139	11	rise	rise	NOUN
cjfa-12567	139	12	in	in	ADP
cjfa-12567	139	13	aum	aum	PROPN
cjfa-12567	139	14	and	and	CCONJ
cjfa-12567	139	15	investor	investor	NOUN
cjfa-12567	139	16	’s	’s	PART
cjfa-12567	139	17	attention	attention	NOUN
cjfa-12567	139	18	.	.	PUNCT
cjfa-12567	140	1	nowadays	nowadays	ADV
cjfa-12567	140	2	smart	smart	ADJ
cjfa-12567	140	3	beta	beta	NOUN
cjfa-12567	140	4	is	be	AUX
cjfa-12567	140	5	booming	booming	ADJ
cjfa-12567	140	6	,	,	PUNCT
cjfa-12567	140	7	but	but	CCONJ
cjfa-12567	140	8	the	the	DET
cjfa-12567	140	9	whole	whole	ADJ
cjfa-12567	140	10	concept	concept	NOUN
cjfa-12567	140	11	is	be	AUX
cjfa-12567	140	12	n’t	not	PART
cjfa-12567	140	13	new	new	ADJ
cjfa-12567	140	14	.	.	PUNCT
cjfa-12567	141	1	fama	fama	PROPN
cjfa-12567	141	2	,	,	PUNCT
cjfa-12567	141	3	french	french	ADJ
cjfa-12567	141	4	and	and	CCONJ
cjfa-12567	141	5	also	also	ADV
cjfa-12567	141	6	carhart	carhart	NOUN
cjfa-12567	141	7	examined	examine	VERB
cjfa-12567	141	8	certain	certain	ADJ
cjfa-12567	141	9	factor	factor	NOUN
cjfa-12567	141	10	’s	’s	PART
cjfa-12567	141	11	impact	impact	NOUN
cjfa-12567	141	12	on	on	ADP
cjfa-12567	141	13	portfolio	portfolio	NOUN
cjfa-12567	141	14	return	return	NOUN
cjfa-12567	141	15	.	.	PUNCT
cjfa-12567	142	1	themes	theme	NOUN
cjfa-12567	142	2	like	like	ADP
cjfa-12567	142	3	value	value	NOUN
cjfa-12567	142	4	and	and	CCONJ
cjfa-12567	142	5	quality	quality	NOUN
cjfa-12567	142	6	have	have	AUX
cjfa-12567	142	7	been	be	AUX
cjfa-12567	142	8	used	use	VERB
cjfa-12567	142	9	by	by	ADP
cjfa-12567	142	10	active	active	ADJ
cjfa-12567	142	11	managers	manager	NOUN
cjfa-12567	142	12	for	for	ADP
cjfa-12567	142	13	many	many	ADJ
cjfa-12567	142	14	years	year	NOUN
cjfa-12567	142	15	.	.	PUNCT
cjfa-12567	143	1	if	if	SCONJ
cjfa-12567	143	2	smart	smart	ADJ
cjfa-12567	143	3	beta	beta	NOUN
cjfa-12567	143	4	is	be	AUX
cjfa-12567	143	5	not	not	PART
cjfa-12567	143	6	entirely	entirely	ADV
cjfa-12567	143	7	new	new	ADJ
cjfa-12567	143	8	concept	concept	NOUN
cjfa-12567	143	9	,	,	PUNCT
cjfa-12567	143	10	why	why	SCONJ
cjfa-12567	143	11	the	the	DET
cjfa-12567	143	12	sudden	sudden	ADJ
cjfa-12567	143	13	rise	rise	NOUN
cjfa-12567	143	14	?	?	PUNCT
cjfa-12567	144	1	for	for	ADP
cjfa-12567	144	2	the	the	DET
cjfa-12567	144	3	last	last	ADJ
cjfa-12567	144	4	decade	decade	NOUN
cjfa-12567	144	5	investors	investor	NOUN
cjfa-12567	144	6	appreciated	appreciate	VERB
cjfa-12567	144	7	transparency	transparency	NOUN
cjfa-12567	144	8	,	,	PUNCT
cjfa-12567	144	9	simplicity	simplicity	NOUN
cjfa-12567	144	10	and	and	CCONJ
cjfa-12567	144	11	low	low	ADJ
cjfa-12567	144	12	fees	fee	NOUN
cjfa-12567	144	13	of	of	ADP
cjfa-12567	144	14	passively	passively	ADV
cjfa-12567	144	15	managed	manage	VERB
cjfa-12567	144	16	stratkamil	stratkamil	NOUN
cjfa-12567	144	17	nowak170	nowak170	PROPN
cjfa-12567	144	18	egies	egie	NOUN
cjfa-12567	144	19	.	.	PUNCT
cjfa-12567	145	1	the	the	DET
cjfa-12567	145	2	progress	progress	NOUN
cjfa-12567	145	3	of	of	ADP
cjfa-12567	145	4	technology	technology	NOUN
cjfa-12567	145	5	made	make	VERB
cjfa-12567	145	6	fundamental	fundamental	ADJ
cjfa-12567	145	7	data	datum	NOUN
cjfa-12567	145	8	available	available	ADJ
cjfa-12567	145	9	and	and	CCONJ
cjfa-12567	145	10	accurate	accurate	ADJ
cjfa-12567	145	11	.	.	PUNCT
cjfa-12567	146	1	thanks	thank	NOUN
cjfa-12567	146	2	to	to	ADP
cjfa-12567	146	3	more	more	ADV
cjfa-12567	146	4	accessible	accessible	ADJ
cjfa-12567	146	5	information	information	NOUN
cjfa-12567	146	6	and	and	CCONJ
cjfa-12567	146	7	adoption	adoption	NOUN
cjfa-12567	146	8	of	of	ADP
cjfa-12567	146	9	innovations	innovation	NOUN
cjfa-12567	146	10	,	,	PUNCT
cjfa-12567	146	11	the	the	DET
cjfa-12567	146	12	historical	historical	ADJ
cjfa-12567	146	13	data	datum	NOUN
cjfa-12567	146	14	can	can	AUX
cjfa-12567	146	15	be	be	AUX
cjfa-12567	146	16	systematized	systematize	VERB
cjfa-12567	146	17	,	,	PUNCT
cjfa-12567	146	18	analyzed	analyze	VERB
cjfa-12567	146	19	and	and	CCONJ
cjfa-12567	146	20	many	many	ADJ
cjfa-12567	146	21	relations	relation	NOUN
cjfa-12567	146	22	may	may	AUX
cjfa-12567	146	23	be	be	AUX
cjfa-12567	146	24	redefined	redefine	VERB
cjfa-12567	146	25	.	.	PUNCT
cjfa-12567	147	1	what	what	PRON
cjfa-12567	147	2	is	be	AUX
cjfa-12567	147	3	more	more	ADJ
cjfa-12567	147	4	,	,	PUNCT
cjfa-12567	147	5	disregarding	disregard	VERB
cjfa-12567	147	6	all	all	DET
cjfa-12567	147	7	the	the	DET
cjfa-12567	147	8	advantages	advantage	NOUN
cjfa-12567	147	9	of	of	ADP
cjfa-12567	147	10	passive	passive	ADJ
cjfa-12567	147	11	strategies	strategy	NOUN
cjfa-12567	147	12	,	,	PUNCT
cjfa-12567	147	13	investors	investor	NOUN
cjfa-12567	147	14	always	always	ADV
cjfa-12567	147	15	have	have	AUX
cjfa-12567	147	16	been	be	AUX
cjfa-12567	147	17	looking	look	VERB
cjfa-12567	147	18	to	to	PART
cjfa-12567	147	19	outperforme	outperforme	VERB
cjfa-12567	147	20	the	the	DET
cjfa-12567	147	21	market	market	NOUN
cjfa-12567	147	22	.	.	PUNCT
cjfa-12567	148	1	recently	recently	ADV
cjfa-12567	148	2	with	with	ADP
cjfa-12567	148	3	a	a	DET
cjfa-12567	148	4	support	support	NOUN
cjfa-12567	148	5	of	of	ADP
cjfa-12567	148	6	technology	technology	NOUN
cjfa-12567	148	7	and	and	CCONJ
cjfa-12567	148	8	quantitative	quantitative	ADJ
cjfa-12567	148	9	methods	method	NOUN
cjfa-12567	148	10	it	it	PRON
cjfa-12567	148	11	might	might	AUX
cjfa-12567	148	12	become	become	VERB
cjfa-12567	148	13	possible	possible	ADJ
cjfa-12567	148	14	.	.	PUNCT
cjfa-12567	149	1	those	those	DET
cjfa-12567	149	2	trends	trend	NOUN
cjfa-12567	149	3	mostly	mostly	ADV
cjfa-12567	149	4	influenced	influence	VERB
cjfa-12567	149	5	such	such	DET
cjfa-12567	149	6	a	a	DET
cjfa-12567	149	7	rapid	rapid	ADJ
cjfa-12567	149	8	emerge	emerge	NOUN
cjfa-12567	149	9	of	of	ADP
cjfa-12567	149	10	smart	smart	ADJ
cjfa-12567	149	11	beta	beta	NOUN
cjfa-12567	149	12	strategies	strategy	NOUN
cjfa-12567	149	13	(	(	PUNCT
cjfa-12567	149	14	shores	shore	NOUN
cjfa-12567	149	15	,	,	PUNCT
cjfa-12567	149	16	2015	2015	NUM
cjfa-12567	149	17	)	)	PUNCT
cjfa-12567	149	18	.	.	PUNCT
cjfa-12567	150	1	implementation	implementation	NOUN
cjfa-12567	150	2	of	of	ADP
cjfa-12567	150	3	alternative	alternative	ADJ
cjfa-12567	150	4	weighting	weight	VERB
cjfa-12567	150	5	schemes	scheme	NOUN
cjfa-12567	150	6	to	to	ADP
cjfa-12567	150	7	polish	polish	PROPN
cjfa-12567	150	8	wig20	wig20	PROPN
cjfa-12567	150	9	index	index	NOUN
cjfa-12567	150	10	alternative	alternative	ADJ
cjfa-12567	150	11	index	index	NOUN
cjfa-12567	150	12	weighting	weighting	NOUN
cjfa-12567	150	13	is	be	AUX
cjfa-12567	150	14	a	a	DET
cjfa-12567	150	15	highly	highly	ADV
cjfa-12567	150	16	emotional	emotional	ADJ
cjfa-12567	150	17	topic	topic	NOUN
cjfa-12567	150	18	lately	lately	ADV
cjfa-12567	150	19	.	.	PUNCT
cjfa-12567	151	1	considering	consider	VERB
cjfa-12567	151	2	how	how	SCONJ
cjfa-12567	151	3	interesting	interesting	ADJ
cjfa-12567	151	4	and	and	CCONJ
cjfa-12567	151	5	controversial	controversial	ADJ
cjfa-12567	151	6	the	the	DET
cjfa-12567	151	7	subject	subject	NOUN
cjfa-12567	151	8	is	be	AUX
cjfa-12567	151	9	,	,	PUNCT
cjfa-12567	151	10	it	it	PRON
cjfa-12567	151	11	’s	’	VERB
cjfa-12567	151	12	definitely	definitely	ADV
cjfa-12567	151	13	worth	worth	ADJ
cjfa-12567	151	14	to	to	PART
cjfa-12567	151	15	present	present	VERB
cjfa-12567	151	16	alternative	alternative	ADJ
cjfa-12567	151	17	solutions	solution	NOUN
cjfa-12567	151	18	.	.	PUNCT
cjfa-12567	152	1	in	in	ADP
cjfa-12567	152	2	this	this	DET
cjfa-12567	152	3	section	section	NOUN
cjfa-12567	152	4	the	the	DET
cjfa-12567	152	5	author	author	NOUN
cjfa-12567	152	6	chose	choose	VERB
cjfa-12567	152	7	four	four	NUM
cjfa-12567	152	8	most	most	ADV
cjfa-12567	152	9	popular	popular	ADJ
cjfa-12567	152	10	alternative	alternative	ADJ
cjfa-12567	152	11	weighting	weight	VERB
cjfa-12567	152	12	schemes	scheme	NOUN
cjfa-12567	152	13	,	,	PUNCT
cjfa-12567	152	14	gave	give	VERB
cjfa-12567	152	15	detailed	detailed	ADJ
cjfa-12567	152	16	description	description	NOUN
cjfa-12567	152	17	,	,	PUNCT
cjfa-12567	152	18	emphasized	emphasize	VERB
cjfa-12567	152	19	their	their	PRON
cjfa-12567	152	20	advantages	advantage	NOUN
cjfa-12567	152	21	and	and	CCONJ
cjfa-12567	152	22	flaws	flaw	NOUN
cjfa-12567	152	23	.	.	PUNCT
cjfa-12567	153	1	the	the	DET
cjfa-12567	153	2	best	good	ADJ
cjfa-12567	153	3	way	way	NOUN
cjfa-12567	153	4	to	to	PART
cjfa-12567	153	5	demonstrate	demonstrate	VERB
cjfa-12567	153	6	the	the	DET
cjfa-12567	153	7	changes	change	NOUN
cjfa-12567	153	8	in	in	ADP
cjfa-12567	153	9	the	the	DET
cjfa-12567	153	10	weights	weight	NOUN
cjfa-12567	153	11	brought	bring	VERB
cjfa-12567	153	12	by	by	ADP
cjfa-12567	153	13	each	each	DET
cjfa-12567	153	14	scheme	scheme	NOUN
cjfa-12567	153	15	it	it	PRON
cjfa-12567	153	16	’s	’	VERB
cjfa-12567	153	17	to	to	PART
cjfa-12567	153	18	use	use	VERB
cjfa-12567	153	19	an	an	DET
cjfa-12567	153	20	as	as	ADP
cjfa-12567	153	21	example	example	NOUN
cjfa-12567	153	22	already	already	ADV
cjfa-12567	153	23	existing	exist	VERB
cjfa-12567	153	24	index	index	NOUN
cjfa-12567	153	25	.	.	PUNCT
cjfa-12567	154	1	to	to	PART
cjfa-12567	154	2	simplify	simplify	VERB
cjfa-12567	154	3	and	and	CCONJ
cjfa-12567	154	4	bring	bring	VERB
cjfa-12567	154	5	out	out	ADP
cjfa-12567	154	6	distinctive	distinctive	ADJ
cjfa-12567	154	7	features	feature	NOUN
cjfa-12567	154	8	of	of	ADP
cjfa-12567	154	9	each	each	DET
cjfa-12567	154	10	indexing	indexing	NOUN
cjfa-12567	154	11	methodology	methodology	NOUN
cjfa-12567	154	12	,	,	PUNCT
cjfa-12567	154	13	the	the	DET
cjfa-12567	154	14	author	author	NOUN
cjfa-12567	154	15	chose	choose	VERB
cjfa-12567	154	16	,	,	PUNCT
cjfa-12567	154	17	as	as	ADP
cjfa-12567	154	18	an	an	DET
cjfa-12567	154	19	example	example	NOUN
cjfa-12567	154	20	,	,	PUNCT
cjfa-12567	154	21	polish	polish	ADJ
cjfa-12567	154	22	equity	equity	NOUN
cjfa-12567	154	23	index	index	NOUN
cjfa-12567	154	24	wig20	wig20	PROPN
cjfa-12567	154	25	,	,	PUNCT
cjfa-12567	154	26	which	which	PRON
cjfa-12567	154	27	is	be	AUX
cjfa-12567	154	28	calculated	calculate	VERB
cjfa-12567	154	29	by	by	ADP
cjfa-12567	154	30	gpw	gpw	NOUN
cjfa-12567	154	31	since	since	SCONJ
cjfa-12567	154	32	1994	1994	NUM
cjfa-12567	154	33	.	.	PUNCT
cjfa-12567	155	1	it	it	PRON
cjfa-12567	155	2	’s	’s	AUX
cjfa-12567	155	3	based	base	VERB
cjfa-12567	155	4	on	on	ADP
cjfa-12567	155	5	the	the	DET
cjfa-12567	155	6	values	value	NOUN
cjfa-12567	155	7	of	of	ADP
cjfa-12567	155	8	20	20	NUM
cjfa-12567	155	9	most	most	ADV
cjfa-12567	155	10	liquid	liquid	ADJ
cjfa-12567	155	11	companies	company	NOUN
cjfa-12567	155	12	with	with	ADP
cjfa-12567	155	13	the	the	DET
cjfa-12567	155	14	biggest	big	ADJ
cjfa-12567	155	15	capitalization	capitalization	NOUN
cjfa-12567	155	16	.	.	PUNCT
cjfa-12567	156	1	equal	equal	ADJ
cjfa-12567	156	2	weighting	weight	VERB
cjfa-12567	156	3	the	the	DET
cjfa-12567	156	4	equal	equal	ADJ
cjfa-12567	156	5	weigh	weigh	NOUN
cjfa-12567	156	6	approach	approach	NOUN
cjfa-12567	156	7	is	be	AUX
cjfa-12567	156	8	one	one	NUM
cjfa-12567	156	9	of	of	ADP
cjfa-12567	156	10	the	the	DET
cjfa-12567	156	11	first	first	ADJ
cjfa-12567	156	12	alternative	alternative	ADJ
cjfa-12567	156	13	schemes	scheme	NOUN
cjfa-12567	156	14	.	.	PUNCT
cjfa-12567	157	1	it	it	PRON
cjfa-12567	157	2	is	be	AUX
cjfa-12567	157	3	simply	simply	ADV
cjfa-12567	157	4	based	base	VERB
cjfa-12567	157	5	on	on	ADP
cjfa-12567	157	6	equal	equal	ADJ
cjfa-12567	157	7	distribution	distribution	NOUN
cjfa-12567	157	8	of	of	ADP
cjfa-12567	157	9	weights	weight	NOUN
cjfa-12567	157	10	among	among	ADP
cjfa-12567	157	11	the	the	DET
cjfa-12567	157	12	assets	asset	NOUN
cjfa-12567	157	13	.	.	PUNCT
cjfa-12567	158	1	it	it	PRON
cjfa-12567	158	2	does	do	AUX
cjfa-12567	158	3	n’t	not	PART
cjfa-12567	158	4	use	use	VERB
cjfa-12567	158	5	any	any	DET
cjfa-12567	158	6	information	information	NOUN
cjfa-12567	158	7	disclosed	disclose	VERB
cjfa-12567	158	8	publicly	publicly	ADV
cjfa-12567	158	9	or	or	CCONJ
cjfa-12567	158	10	privately	privately	ADV
cjfa-12567	158	11	to	to	PART
cjfa-12567	158	12	prefer	prefer	VERB
cjfa-12567	158	13	one	one	NUM
cjfa-12567	158	14	company	company	NOUN
cjfa-12567	158	15	over	over	ADP
cjfa-12567	158	16	the	the	DET
cjfa-12567	158	17	others	other	NOUN
cjfa-12567	158	18	.	.	PUNCT
cjfa-12567	159	1	equal	equal	ADJ
cjfa-12567	159	2	weighting	weighting	NOUN
cjfa-12567	159	3	is	be	AUX
cjfa-12567	159	4	founded	found	VERB
cjfa-12567	159	5	over	over	ADP
cjfa-12567	159	6	assumption	assumption	NOUN
cjfa-12567	159	7	that	that	SCONJ
cjfa-12567	159	8	,	,	PUNCT
cjfa-12567	159	9	it	it	PRON
cjfa-12567	159	10	is	be	AUX
cjfa-12567	159	11	impossible	impossible	ADJ
cjfa-12567	159	12	to	to	PART
cjfa-12567	159	13	predict	predict	VERB
cjfa-12567	159	14	risk	risk	NOUN
cjfa-12567	159	15	and	and	CCONJ
cjfa-12567	159	16	return	return	NOUN
cjfa-12567	159	17	of	of	ADP
cjfa-12567	159	18	the	the	DET
cjfa-12567	159	19	assets	asset	NOUN
cjfa-12567	159	20	,	,	PUNCT
cjfa-12567	159	21	so	so	ADV
cjfa-12567	159	22	holding	hold	VERB
cjfa-12567	159	23	an	an	DET
cjfa-12567	159	24	equal	equal	ADJ
cjfa-12567	159	25	amount	amount	NOUN
cjfa-12567	159	26	of	of	ADP
cjfa-12567	159	27	each	each	DET
cjfa-12567	159	28	security	security	NOUN
cjfa-12567	159	29	in	in	ADP
cjfa-12567	159	30	the	the	DET
cjfa-12567	159	31	portfolio	portfolio	NOUN
cjfa-12567	159	32	brigs	brig	VERB
cjfa-12567	159	33	the	the	DET
cjfa-12567	159	34	lowest	low	ADJ
cjfa-12567	159	35	risk	risk	NOUN
cjfa-12567	159	36	.	.	PUNCT
cjfa-12567	160	1	this	this	DET
cjfa-12567	160	2	scheme	scheme	NOUN
cjfa-12567	160	3	definitely	definitely	ADV
cjfa-12567	160	4	is	be	AUX
cjfa-12567	160	5	avoiding	avoid	VERB
cjfa-12567	160	6	one	one	NUM
cjfa-12567	160	7	of	of	ADP
cjfa-12567	160	8	the	the	DET
cjfa-12567	160	9	biggest	big	ADJ
cjfa-12567	160	10	shortcomings	shortcoming	NOUN
cjfa-12567	160	11	of	of	ADP
cjfa-12567	160	12	cap	cap	NOUN
cjfa-12567	160	13	-	-	PUNCT
cjfa-12567	160	14	weighted	weight	VERB
cjfa-12567	160	15	indices	index	NOUN
cjfa-12567	160	16	–	–	PUNCT
cjfa-12567	160	17	overweighting	overweighte	VERB
cjfa-12567	160	18	overpriced	overprice	VERB
cjfa-12567	160	19	companies	company	NOUN
cjfa-12567	160	20	and	and	CCONJ
cjfa-12567	160	21	underweighting	underweighte	VERB
cjfa-12567	160	22	undervalued	undervalue	VERB
cjfa-12567	160	23	.	.	PUNCT
cjfa-12567	161	1	underweighting	underweighte	VERB
cjfa-12567	161	2	or	or	CCONJ
cjfa-12567	161	3	overweighting	overweighte	VERB
cjfa-12567	161	4	assets	asset	NOUN
cjfa-12567	161	5	is	be	AUX
cjfa-12567	161	6	no	no	PRON
cjfa-12567	161	7	longer	long	ADV
cjfa-12567	161	8	systematic	systematic	ADJ
cjfa-12567	161	9	,	,	PUNCT
cjfa-12567	161	10	it	it	PRON
cjfa-12567	161	11	became	become	VERB
cjfa-12567	161	12	random	random	ADJ
cjfa-12567	161	13	.	.	PUNCT
cjfa-12567	162	1	what	what	PRON
cjfa-12567	162	2	is	be	AUX
cjfa-12567	162	3	more	more	ADJ
cjfa-12567	162	4	,	,	PUNCT
cjfa-12567	162	5	equal	equal	ADJ
cjfa-12567	162	6	weights	weight	NOUN
cjfa-12567	162	7	gave	give	VERB
cjfa-12567	162	8	rise	rise	NOUN
cjfa-12567	162	9	to	to	ADP
cjfa-12567	162	10	immunity	immunity	NOUN
cjfa-12567	162	11	to	to	ADP
cjfa-12567	162	12	estimation	estimation	NOUN
cjfa-12567	162	13	error	error	NOUN
cjfa-12567	162	14	and	and	CCONJ
cjfa-12567	162	15	provide	provide	VERB
cjfa-12567	162	16	automatic	automatic	ADJ
cjfa-12567	162	17	diversification	diversification	NOUN
cjfa-12567	162	18	.	.	PUNCT
cjfa-12567	163	1	unlike	unlike	ADP
cjfa-12567	163	2	market	market	NOUN
cjfa-12567	163	3	capitalization	capitalization	NOUN
cjfa-12567	163	4	,	,	PUNCT
cjfa-12567	163	5	this	this	DET
cjfa-12567	163	6	approach	approach	NOUN
cjfa-12567	163	7	tilts	tilt	VERB
cjfa-12567	163	8	more	more	ADJ
cjfa-12567	163	9	towards	towards	ADP
cjfa-12567	163	10	small	small	ADJ
cjfa-12567	163	11	cap	cap	NOUN
cjfa-12567	163	12	,	,	PUNCT
cjfa-12567	163	13	because	because	SCONJ
cjfa-12567	163	14	it	it	PRON
cjfa-12567	163	15	holds	hold	VERB
cjfa-12567	163	16	small	small	ADJ
cjfa-12567	163	17	companies	company	NOUN
cjfa-12567	163	18	on	on	ADP
cjfa-12567	163	19	the	the	DET
cjfa-12567	163	20	same	same	ADJ
cjfa-12567	163	21	scale	scale	NOUN
cjfa-12567	163	22	as	as	ADP
cjfa-12567	163	23	the	the	DET
cjfa-12567	163	24	largest	large	ADJ
cjfa-12567	163	25	.	.	PUNCT
cjfa-12567	164	1	it	it	PRON
cjfa-12567	164	2	may	may	AUX
cjfa-12567	164	3	be	be	AUX
cjfa-12567	164	4	an	an	DET
cjfa-12567	164	5	advantage	advantage	NOUN
cjfa-12567	164	6	,	,	PUNCT
cjfa-12567	164	7	implementation	implementation	NOUN
cjfa-12567	164	8	of	of	ADP
cjfa-12567	164	9	alternative	alternative	ADJ
cjfa-12567	164	10	index	index	NOUN
cjfa-12567	164	11	weighting	weighting	NOUN
cjfa-12567	164	12	…	…	PUNCT
cjfa-12567	164	13	171	171	NUM
cjfa-12567	164	14	figure	figure	NOUN
cjfa-12567	164	15	3	3	NUM
cjfa-12567	164	16	.	.	PUNCT
cjfa-12567	165	1	wig20	wig20	PROPN
cjfa-12567	165	2	.	.	PUNCT
cjfa-12567	166	1	cap	cap	NOUN
cjfa-12567	166	2	vs.	vs.	ADP
cjfa-12567	166	3	equal	equal	ADJ
cjfa-12567	166	4	weighting	weighting	NOUN
cjfa-12567	166	5	figure	figure	NOUN
cjfa-12567	166	6	2	2	NUM
cjfa-12567	166	7	.	.	PUNCT
cjfa-12567	167	1	wig20	wig20	PROPN
cjfa-12567	167	2	.	.	PUNCT
cjfa-12567	168	1	cap	cap	NOUN
cjfa-12567	168	2	vs.	vs.	ADP
cjfa-12567	168	3	equal	equal	ADJ
cjfa-12567	168	4	weighting	weighting	NOUN
cjfa-12567	168	5	source	source	NOUN
cjfa-12567	168	6	:	:	PUNCT
cjfa-12567	168	7	author	author	NOUN
cjfa-12567	168	8	’s	’s	PART
cjfa-12567	168	9	elaboration	elaboration	NOUN
cjfa-12567	168	10	.	.	PUNCT
cjfa-12567	169	1	table	table	NOUN
cjfa-12567	169	2	1	1	NUM
cjfa-12567	169	3	compares	compare	VERB
cjfa-12567	169	4	annual	annual	ADJ
cjfa-12567	169	5	return	return	NOUN
cjfa-12567	169	6	from	from	ADP
cjfa-12567	169	7	cap	cap	NOUN
cjfa-12567	169	8	-	-	PUNCT
cjfa-12567	169	9	weighted	weight	VERB
cjfa-12567	169	10	and	and	CCONJ
cjfa-12567	169	11	equal	equal	ADJ
cjfa-12567	169	12	weighted	weight	VERB
cjfa-12567	169	13	wig20	wig20	PROPN
cjfa-12567	169	14	portfolio	portfolio	NOUN
cjfa-12567	169	15	.	.	PUNCT
cjfa-12567	170	1	the	the	DET
cjfa-12567	170	2	rebalancing	rebalancing	NOUN
cjfa-12567	170	3	of	of	ADP
cjfa-12567	170	4	the	the	DET
cjfa-12567	170	5	portfolio	portfolio	NOUN
cjfa-12567	170	6	has	have	AUX
cjfa-12567	170	7	been	be	AUX
cjfa-12567	170	8	eliminated	eliminate	VERB
cjfa-12567	170	9	to	to	PART
cjfa-12567	170	10	avoid	avoid	VERB
cjfa-12567	170	11	unnecessary	unnecessary	ADJ
cjfa-12567	170	12	calculations	calculation	NOUN
cjfa-12567	170	13	.	.	PUNCT
cjfa-12567	171	1	that	that	PRON
cjfa-12567	171	2	is	be	AUX
cjfa-12567	171	3	the	the	DET
cjfa-12567	171	4	reason	reason	NOUN
cjfa-12567	171	5	why	why	SCONJ
cjfa-12567	171	6	return	return	NOUN
cjfa-12567	171	7	rates	rate	NOUN
cjfa-12567	171	8	have	have	AUX
cjfa-12567	171	9	n’t	not	PART
cjfa-12567	171	10	been	be	AUX
cjfa-12567	171	11	compared	compare	VERB
cjfa-12567	171	12	in	in	ADP
cjfa-12567	171	13	the	the	DET
cjfa-12567	171	14	longer	long	ADJ
cjfa-12567	171	15	term	term	NOUN
cjfa-12567	171	16	than	than	ADP
cjfa-12567	171	17	a	a	DET
cjfa-12567	171	18	year	year	NOUN
cjfa-12567	171	19	.	.	PUNCT
cjfa-12567	172	1	in	in	ADP
cjfa-12567	172	2	a	a	DET
cjfa-12567	172	3	longer	long	ADJ
cjfa-12567	172	4	run	run	VERB
cjfa-12567	172	5	exclusion	exclusion	NOUN
cjfa-12567	172	6	of	of	ADP
cjfa-12567	172	7	the	the	DET
cjfa-12567	172	8	rebalancing	rebalancing	NOUN
cjfa-12567	172	9	process	process	NOUN
cjfa-12567	172	10	is	be	AUX
cjfa-12567	172	11	not	not	PART
cjfa-12567	172	12	an	an	DET
cjfa-12567	172	13	option	option	NOUN
cjfa-12567	172	14	,	,	PUNCT
cjfa-12567	172	15	because	because	SCONJ
cjfa-12567	172	16	without	without	ADP
cjfa-12567	172	17	frequent	frequent	ADJ
cjfa-12567	172	18	rebalancing	rebalancing	NOUN
cjfa-12567	172	19	of	of	ADP
cjfa-12567	172	20	the	the	DET
cjfa-12567	172	21	portfolio	portfolio	NOUN
cjfa-12567	172	22	weights	weight	NOUN
cjfa-12567	172	23	would	would	AUX
cjfa-12567	172	24	become	become	VERB
cjfa-12567	172	25	far	far	ADV
cjfa-12567	172	26	from	from	ADP
cjfa-12567	172	27	equal	equal	ADJ
cjfa-12567	172	28	.	.	PUNCT
cjfa-12567	173	1	concluding	conclude	VERB
cjfa-12567	173	2	this	this	DET
cjfa-12567	173	3	comparison	comparison	NOUN
cjfa-12567	173	4	,	,	PUNCT
cjfa-12567	173	5	equal	equal	ADJ
cjfa-12567	173	6	weighted	weight	VERB
cjfa-12567	173	7	portfolio	portfolio	NOUN
cjfa-12567	173	8	is	be	AUX
cjfa-12567	173	9	definitely	definitely	ADV
cjfa-12567	173	10	more	more	ADV
cjfa-12567	173	11	diversified	diversified	ADJ
cjfa-12567	173	12	than	than	ADP
cjfa-12567	173	13	cap	cap	NOUN
cjfa-12567	173	14	-	-	PUNCT
cjfa-12567	173	15	weighted	weight	VERB
cjfa-12567	173	16	.	.	PUNCT
cjfa-12567	174	1	the	the	DET
cjfa-12567	174	2	risk	risk	NOUN
cjfa-12567	174	3	is	be	AUX
cjfa-12567	174	4	distributed	distribute	VERB
cjfa-12567	174	5	equally	equally	ADV
cjfa-12567	174	6	among	among	ADP
cjfa-12567	174	7	the	the	DET
cjfa-12567	174	8	component	component	NOUN
cjfa-12567	174	9	stocks	stock	NOUN
cjfa-12567	174	10	.	.	PUNCT
cjfa-12567	175	1	comparing	compare	VERB
cjfa-12567	175	2	annual	annual	ADJ
cjfa-12567	175	3	return	return	NOUN
cjfa-12567	175	4	rates	rate	NOUN
cjfa-12567	175	5	,	,	PUNCT
cjfa-12567	175	6	it	it	PRON
cjfa-12567	175	7	’s	’	VERB
cjfa-12567	175	8	difficult	difficult	ADJ
cjfa-12567	175	9	not	not	PART
cjfa-12567	175	10	to	to	PART
cjfa-12567	175	11	perceive	perceive	VERB
cjfa-12567	175	12	that	that	SCONJ
cjfa-12567	175	13	diversification	diversification	NOUN
cjfa-12567	175	14	of	of	ADP
cjfa-12567	175	15	the	the	DET
cjfa-12567	175	16	portfolio	portfolio	NOUN
cjfa-12567	175	17	can	can	AUX
cjfa-12567	175	18	significantly	significantly	ADV
cjfa-12567	175	19	decrease	decrease	VERB
cjfa-12567	175	20	the	the	DET
cjfa-12567	175	21	risk	risk	NOUN
cjfa-12567	175	22	.	.	PUNCT
cjfa-12567	176	1	going	go	VERB
cjfa-12567	176	2	further	far	ADV
cjfa-12567	176	3	,	,	PUNCT
cjfa-12567	176	4	possible	possible	ADJ
cjfa-12567	176	5	losses	loss	NOUN
cjfa-12567	176	6	caused	cause	VERB
cjfa-12567	176	7	by	by	ADP
cjfa-12567	176	8	major	major	ADJ
cjfa-12567	176	9	assets	asset	NOUN
cjfa-12567	176	10	devaluation	devaluation	NOUN
cjfa-12567	176	11	can	can	AUX
cjfa-12567	176	12	be	be	AUX
cjfa-12567	176	13	reduced	reduce	VERB
cjfa-12567	176	14	.	.	PUNCT
cjfa-12567	177	1	in	in	ADP
cjfa-12567	177	2	this	this	DET
cjfa-12567	177	3	particular	particular	ADJ
cjfa-12567	177	4	case	case	NOUN
cjfa-12567	177	5	by	by	ADP
cjfa-12567	177	6	almost	almost	ADV
cjfa-12567	177	7	5	5	NUM
cjfa-12567	177	8	%	%	NOUN
cjfa-12567	177	9	.	.	PUNCT
cjfa-12567	178	1	table	table	NOUN
cjfa-12567	178	2	1	1	NUM
cjfa-12567	178	3	.	.	PUNCT
cjfa-12567	178	4	annual	annual	ADJ
cjfa-12567	178	5	return	return	NOUN
cjfa-12567	178	6	rate	rate	NOUN
cjfa-12567	178	7	:	:	PUNCT
cjfa-12567	178	8	cap	cap	NOUN
cjfa-12567	178	9	vs.	vs.	X
cjfa-12567	178	10	equal	equal	ADJ
cjfa-12567	178	11	weighted	weight	VERB
cjfa-12567	178	12	portfolio	portfolio	NOUN
cjfa-12567	178	13	annual	annual	ADJ
cjfa-12567	178	14	return	return	NOUN
cjfa-12567	178	15	annual	annual	ADJ
cjfa-12567	178	16	return	return	NOUN
cjfa-12567	178	17	difference	difference	NOUN
cjfa-12567	178	18	over	over	ADP
cjfa-12567	178	19	5	5	NUM
cjfa-12567	178	20	%	%	NOUN
cjfa-12567	178	21	5	5	NUM
cjfa-12567	178	22	%	%	NOUN
cjfa-12567	178	23	5	5	NUM
cjfa-12567	178	24	%	%	NOUN
cjfa-12567	178	25	5	5	NUM
cjfa-12567	178	26	%	%	NOUN
cjfa-12567	178	27	5	5	NUM
cjfa-12567	178	28	%	%	NOUN
cjfa-12567	178	29	5	5	NUM
cjfa-12567	178	30	%	%	NOUN
cjfa-12567	178	31	5	5	NUM
cjfa-12567	178	32	%	%	NOUN
cjfa-12567	178	33	5	5	NUM
cjfa-12567	178	34	%	%	NOUN
cjfa-12567	178	35	5	5	NUM
cjfa-12567	178	36	%	%	NOUN
cjfa-12567	178	37	5%5	5%5	NUM
cjfa-12567	178	38	%	%	NOUN
cjfa-12567	178	39	5	5	NUM
cjfa-12567	178	40	%	%	NOUN
cjfa-12567	178	41	5	5	NUM
cjfa-12567	178	42	%	%	NOUN
cjfa-12567	178	43	5	5	NUM
cjfa-12567	178	44	%	%	NOUN
cjfa-12567	178	45	5	5	NUM
cjfa-12567	178	46	%	%	NOUN
cjfa-12567	178	47	5	5	NUM
cjfa-12567	178	48	%	%	NOUN
cjfa-12567	178	49	5	5	NUM
cjfa-12567	178	50	%	%	NOUN
cjfa-12567	178	51	5	5	NUM
cjfa-12567	178	52	%	%	NOUN
cjfa-12567	178	53	5	5	NUM
cjfa-12567	178	54	%	%	NOUN
cjfa-12567	178	55	5	5	NUM
cjfa-12567	178	56	%	%	NOUN
cjfa-12567	178	57	cps	cps	PROPN
cjfa-12567	178	58	opl	opl	PROPN
cjfa-12567	178	59	mbk	mbk	PROPN
cjfa-12567	178	60	acp	acp	PROPN
cjfa-12567	178	61	ena	ena	PROPN
cjfa-12567	178	62	bzw	bzw	PROPN
cjfa-12567	178	63	pzu	pzu	PROPN
cjfa-12567	178	64	lts	lts	PROPN
cjfa-12567	178	65	alr	alr	PROPN
cjfa-12567	178	66	kgh	kgh	PROPN
cjfa-12567	179	1	pgn	pgn	PROPN
cjfa-12567	179	2	pge	pge	NOUN
cjfa-12567	179	3	peo	peo	PROPN
cjfa-12567	179	4	pkn	pkn	PROPN
cjfa-12567	179	5	pko	pko	PROPN
cjfa-12567	179	6	eur	eur	PROPN
cjfa-12567	179	7	eng	eng	PROPN
cjfa-12567	179	8	tpe	tpe	PROPN
cjfa-12567	179	9	ccc	ccc	PROPN
cjfa-12567	179	10	lpp	lpp	PROPN
cjfa-12567	179	11	3,12	3,12	NUM
cjfa-12567	179	12	%	%	NOUN
cjfa-12567	179	13	2,04	2,04	NUM
cjfa-12567	179	14	%	%	NOUN
cjfa-12567	179	15	2,77	2,77	NUM
cjfa-12567	179	16	%	%	NOUN
cjfa-12567	179	17	2,48	2,48	NUM
cjfa-12567	179	18	%	%	NOUN
cjfa-12567	179	19	1,46	1,46	NUM
cjfa-12567	179	20	%	%	NOUN
cjfa-12567	179	21	5,70	5,70	NUM
cjfa-12567	179	22	%	%	NOUN
cjfa-12567	180	1	9,93	9,93	NUM
cjfa-12567	180	2	%	%	NOUN
cjfa-12567	180	3	1,50	1,50	NUM
cjfa-12567	180	4	%	%	NOUN
cjfa-12567	180	5	1,67	1,67	NUM
cjfa-12567	180	6	%	%	NOUN
cjfa-12567	180	7	6,58	6,58	NUM
cjfa-12567	180	8	%	%	NOUN
cjfa-12567	180	9	5,80	5,80	NUM
cjfa-12567	180	10	%	%	NOUN
cjfa-12567	180	11	6,15	6,15	NUM
cjfa-12567	180	12	%	%	NOUN
cjfa-12567	180	13	12,02	12,02	NOUN
cjfa-12567	180	14	%	%	NOUN
cjfa-12567	180	15	12,19	12,19	NUM
cjfa-12567	180	16	%	%	NOUN
cjfa-12567	180	17	14,37	14,37	NUM
cjfa-12567	180	18	%	%	NOUN
cjfa-12567	180	19	2,50	2,50	NUM
cjfa-12567	180	20	%	%	NOUN
cjfa-12567	180	21	1,19	1,19	NUM
cjfa-12567	180	22	%	%	NOUN
cjfa-12567	180	23	1,99	1,99	NUM
cjfa-12567	180	24	%	%	NOUN
cjfa-12567	180	25	2,89	2,89	NUM
cjfa-12567	180	26	%	%	NOUN
cjfa-12567	180	27	3,68	3,68	NUM
cjfa-12567	180	28	%	%	NOUN
cjfa-12567	180	29	cps	cps	PROPN
cjfa-12567	180	30	opl	opl	PROPN
cjfa-12567	180	31	mbk	mbk	PROPN
cjfa-12567	180	32	acp	acp	PROPN
cjfa-12567	180	33	ena	ena	PROPN
cjfa-12567	180	34	bzw	bzw	PROPN
cjfa-12567	180	35	pzu	pzu	PROPN
cjfa-12567	180	36	lts	lts	PROPN
cjfa-12567	180	37	alr	alr	PROPN
cjfa-12567	180	38	kgh	kgh	PROPN
cjfa-12567	180	39	pgn	pgn	PROPN
cjfa-12567	180	40	pge	pge	NOUN
cjfa-12567	180	41	peo	peo	PROPN
cjfa-12567	180	42	pkn	pkn	PROPN
cjfa-12567	180	43	pko	pko	PROPN
cjfa-12567	181	1	eur	eur	PROPN
cjfa-12567	181	2	eng	eng	PROPN
cjfa-12567	181	3	tpe	tpe	PROPN
cjfa-12567	181	4	ccc	ccc	PROPN
cjfa-12567	181	5	lpp	lpp	PROPN
cjfa-12567	181	6	s	s	PART
cjfa-12567	181	7	o	o	NOUN
cjfa-12567	181	8	u	u	NOUN
cjfa-12567	181	9	r	r	NOUN
cjfa-12567	181	10	c	c	NOUN
cjfa-12567	181	11	e	e	NOUN
cjfa-12567	181	12	:	:	PUNCT
cjfa-12567	181	13	author	author	NOUN
cjfa-12567	181	14	’s	’s	PART
cjfa-12567	181	15	elaboration	elaboration	NOUN
cjfa-12567	181	16	.	.	PUNCT
cjfa-12567	182	1	but	but	CCONJ
cjfa-12567	182	2	on	on	ADP
cjfa-12567	182	3	the	the	DET
cjfa-12567	182	4	other	other	ADJ
cjfa-12567	182	5	hand	hand	NOUN
cjfa-12567	182	6	transaction	transaction	NOUN
cjfa-12567	182	7	costs	cost	NOUN
cjfa-12567	182	8	are	be	AUX
cjfa-12567	182	9	much	much	ADV
cjfa-12567	182	10	higher	high	ADJ
cjfa-12567	182	11	,	,	PUNCT
cjfa-12567	182	12	because	because	SCONJ
cjfa-12567	182	13	ew	ew	PRON
cjfa-12567	182	14	portfolio	portfolio	NOUN
cjfa-12567	182	15	needs	need	VERB
cjfa-12567	182	16	to	to	PART
cjfa-12567	182	17	be	be	AUX
cjfa-12567	182	18	rebalanced	rebalance	VERB
cjfa-12567	182	19	very	very	ADV
cjfa-12567	182	20	often	often	ADV
cjfa-12567	182	21	.	.	PUNCT
cjfa-12567	183	1	of	of	ADP
cjfa-12567	183	2	course	course	NOUN
cjfa-12567	183	3	lower	low	ADJ
cjfa-12567	183	4	liquidity	liquidity	NOUN
cjfa-12567	183	5	of	of	ADP
cjfa-12567	183	6	smallest	small	ADJ
cjfa-12567	183	7	companies	company	NOUN
cjfa-12567	183	8	should	should	AUX
cjfa-12567	183	9	be	be	AUX
cjfa-12567	183	10	taken	take	VERB
cjfa-12567	183	11	into	into	ADP
cjfa-12567	183	12	consideration	consideration	NOUN
cjfa-12567	183	13	,	,	PUNCT
cjfa-12567	183	14	which	which	PRON
cjfa-12567	183	15	may	may	AUX
cjfa-12567	183	16	make	make	VERB
cjfa-12567	183	17	frequent	frequent	ADJ
cjfa-12567	183	18	rebalancing	rebalancing	NOUN
cjfa-12567	183	19	quite	quite	ADV
cjfa-12567	183	20	challenging	challenging	ADJ
cjfa-12567	183	21	.	.	PUNCT
cjfa-12567	184	1	what	what	PRON
cjfa-12567	184	2	might	might	AUX
cjfa-12567	184	3	be	be	AUX
cjfa-12567	184	4	frustrating	frustrating	ADJ
cjfa-12567	184	5	for	for	ADP
cjfa-12567	184	6	some	some	DET
cjfa-12567	184	7	investors	investor	NOUN
cjfa-12567	184	8	is	be	AUX
cjfa-12567	184	9	a	a	DET
cjfa-12567	184	10	necessity	necessity	NOUN
cjfa-12567	184	11	to	to	PART
cjfa-12567	184	12	sell	sell	VERB
cjfa-12567	184	13	well	well	ADV
cjfa-12567	184	14	performing	perform	VERB
cjfa-12567	184	15	assets	asset	NOUN
cjfa-12567	184	16	and	and	CCONJ
cjfa-12567	184	17	buy	buy	VERB
cjfa-12567	184	18	underperforming	underperform	VERB
cjfa-12567	184	19	,	,	PUNCT
cjfa-12567	184	20	during	during	ADP
cjfa-12567	184	21	rebalancing	rebalancing	NOUN
cjfa-12567	184	22	process	process	NOUN
cjfa-12567	184	23	(	(	PUNCT
cjfa-12567	184	24	arnott	arnott	PROPN
cjfa-12567	184	25	et	et	PROPN
cjfa-12567	184	26	al	al	PROPN
cjfa-12567	184	27	.	.	PROPN
cjfa-12567	184	28	,	,	PUNCT
cjfa-12567	184	29	2010	2010	NUM
cjfa-12567	184	30	)	)	PUNCT
cjfa-12567	184	31	.	.	PUNCT
cjfa-12567	185	1	figure	figure	NOUN
cjfa-12567	185	2	3	3	NUM
cjfa-12567	185	3	shows	show	VERB
cjfa-12567	185	4	cap	cap	NOUN
cjfa-12567	185	5	-	-	PUNCT
cjfa-12567	185	6	weighted	weight	VERB
cjfa-12567	185	7	index	index	NOUN
cjfa-12567	185	8	wig20	wig20	PROPN
cjfa-12567	185	9	,	,	PUNCT
cjfa-12567	185	10	where	where	SCONJ
cjfa-12567	185	11	almost	almost	ADV
cjfa-12567	185	12	50	50	NUM
cjfa-12567	185	13	%	%	NOUN
cjfa-12567	185	14	of	of	ADP
cjfa-12567	185	15	index	index	NOUN
cjfa-12567	185	16	capitalization	capitalization	NOUN
cjfa-12567	185	17	is	be	AUX
cjfa-12567	185	18	concentrated	concentrate	VERB
cjfa-12567	185	19	in	in	ADP
cjfa-12567	185	20	four	four	NUM
cjfa-12567	185	21	major	major	ADJ
cjfa-12567	185	22	assets	asset	NOUN
cjfa-12567	185	23	:	:	PUNCT
cjfa-12567	185	24	pzu	pzu	PROPN
cjfa-12567	185	25	,	,	PUNCT
cjfa-12567	185	26	pko	pko	PROPN
cjfa-12567	185	27	,	,	PUNCT
cjfa-12567	185	28	peo	peo	PROPN
cjfa-12567	185	29	,	,	PUNCT
cjfa-12567	185	30	pkn	pkn	PROPN
cjfa-12567	185	31	.	.	PUNCT
cjfa-12567	186	1	what	what	PRON
cjfa-12567	186	2	is	be	AUX
cjfa-12567	186	3	more	more	ADJ
cjfa-12567	186	4	,	,	PUNCT
cjfa-12567	186	5	three	three	NUM
cjfa-12567	186	6	out	out	ADP
cjfa-12567	186	7	of	of	ADP
cjfa-12567	186	8	four	four	NUM
cjfa-12567	186	9	companies	company	NOUN
cjfa-12567	186	10	represents	represent	VERB
cjfa-12567	186	11	financial	financial	ADJ
cjfa-12567	186	12	sector	sector	NOUN
cjfa-12567	186	13	.	.	PUNCT
cjfa-12567	187	1	going	go	VERB
cjfa-12567	187	2	further	far	ADV
cjfa-12567	187	3	,	,	PUNCT
cjfa-12567	187	4	the	the	DET
cjfa-12567	187	5	return	return	NOUN
cjfa-12567	187	6	and	and	CCONJ
cjfa-12567	187	7	the	the	DET
cjfa-12567	187	8	risk	risk	NOUN
cjfa-12567	187	9	of	of	ADP
cjfa-12567	187	10	the	the	DET
cjfa-12567	187	11	portfolio	portfolio	NOUN
cjfa-12567	187	12	depends	depend	VERB
cjfa-12567	187	13	on	on	ADP
cjfa-12567	187	14	performance	performance	NOUN
cjfa-12567	187	15	of	of	ADP
cjfa-12567	187	16	those	those	DET
cjfa-12567	187	17	four	four	NUM
cjfa-12567	187	18	companies	company	NOUN
cjfa-12567	187	19	.	.	PUNCT
cjfa-12567	188	1	holding	hold	VERB
cjfa-12567	188	2	an	an	DET
cjfa-12567	188	3	index	index	NOUN
cjfa-12567	188	4	portfolio	portfolio	NOUN
cjfa-12567	188	5	like	like	ADP
cjfa-12567	188	6	wig20	wig20	PROPN
cjfa-12567	188	7	investor	investor	NOUN
cjfa-12567	188	8	’s	’s	PART
cjfa-12567	188	9	profit	profit	NOUN
cjfa-12567	188	10	or	or	CCONJ
cjfa-12567	188	11	loss	loss	NOUN
cjfa-12567	188	12	depends	depend	VERB
cjfa-12567	188	13	mostly	mostly	ADV
cjfa-12567	188	14	on	on	ADP
cjfa-12567	188	15	condition	condition	NOUN
cjfa-12567	188	16	and	and	CCONJ
cjfa-12567	188	17	trends	trend	NOUN
cjfa-12567	188	18	of	of	ADP
cjfa-12567	188	19	only	only	ADV
cjfa-12567	188	20	one	one	NUM
cjfa-12567	188	21	sector	sector	NOUN
cjfa-12567	188	22	.	.	PUNCT
cjfa-12567	189	1	kamil	kamil	PROPN
cjfa-12567	189	2	nowak172	nowak172	PROPN
cjfa-12567	189	3	in	in	ADP
cjfa-12567	189	4	the	the	DET
cjfa-12567	189	5	light	light	NOUN
cjfa-12567	189	6	of	of	ADP
cjfa-12567	189	7	above	above	ADJ
cjfa-12567	189	8	considerations	consideration	NOUN
cjfa-12567	189	9	,	,	PUNCT
cjfa-12567	189	10	the	the	DET
cjfa-12567	189	11	question	question	NOUN
cjfa-12567	189	12	arises	arise	VERB
cjfa-12567	189	13	:	:	PUNCT
cjfa-12567	189	14	is	be	AUX
cjfa-12567	189	15	the	the	DET
cjfa-12567	189	16	performance	performance	NOUN
cjfa-12567	189	17	of	of	ADP
cjfa-12567	189	18	those	those	DET
cjfa-12567	189	19	four	four	NUM
cjfa-12567	189	20	stocks	stock	NOUN
cjfa-12567	189	21	worth	worth	ADJ
cjfa-12567	189	22	taking	take	VERB
cjfa-12567	189	23	such	such	DET
cjfa-12567	189	24	a	a	DET
cjfa-12567	189	25	substantial	substantial	ADJ
cjfa-12567	189	26	risk	risk	NOUN
cjfa-12567	189	27	?	?	PUNCT
cjfa-12567	190	1	in	in	ADP
cjfa-12567	190	2	this	this	DET
cjfa-12567	190	3	particular	particular	ADJ
cjfa-12567	190	4	case	case	NOUN
cjfa-12567	190	5	,	,	PUNCT
cjfa-12567	190	6	considering	consider	VERB
cjfa-12567	190	7	quite	quite	DET
cjfa-12567	190	8	a	a	DET
cjfa-12567	190	9	short	short	ADJ
cjfa-12567	190	10	term	term	NOUN
cjfa-12567	190	11	,	,	PUNCT
cjfa-12567	190	12	twelve	twelve	NUM
cjfa-12567	190	13	months	month	NOUN
cjfa-12567	190	14	average	average	ADJ
cjfa-12567	190	15	return	return	NOUN
cjfa-12567	190	16	rate	rate	NOUN
cjfa-12567	190	17	of	of	ADP
cjfa-12567	190	18	wig20	wig20	PROPN
cjfa-12567	190	19	components	component	NOUN
cjfa-12567	190	20	,	,	PUNCT
cjfa-12567	190	21	the	the	DET
cjfa-12567	190	22	answer	answer	NOUN
cjfa-12567	190	23	is	be	AUX
cjfa-12567	190	24	no	no	INTJ
cjfa-12567	190	25	,	,	PUNCT
cjfa-12567	190	26	because	because	SCONJ
cjfa-12567	190	27	only	only	ADV
cjfa-12567	190	28	one	one	NUM
cjfa-12567	190	29	of	of	ADP
cjfa-12567	190	30	those	those	DET
cjfa-12567	190	31	four	four	NUM
cjfa-12567	190	32	companies	company	NOUN
cjfa-12567	190	33	–	–	PUNCT
cjfa-12567	190	34	pko	pko	PROPN
cjfa-12567	190	35	brought	bring	VERB
cjfa-12567	190	36	a	a	DET
cjfa-12567	190	37	slight	slight	ADJ
cjfa-12567	190	38	return	return	NOUN
cjfa-12567	190	39	.	.	PUNCT
cjfa-12567	191	1	on	on	ADP
cjfa-12567	191	2	the	the	DET
cjfa-12567	191	3	other	other	ADJ
cjfa-12567	191	4	hand	hand	NOUN
cjfa-12567	191	5	,	,	PUNCT
cjfa-12567	191	6	underweighted	underweighte	VERB
cjfa-12567	191	7	stocks	stock	NOUN
cjfa-12567	191	8	like	like	ADP
cjfa-12567	191	9	eur	eur	NOUN
cjfa-12567	191	10	or	or	CCONJ
cjfa-12567	191	11	cps	cps	PROPN
cjfa-12567	191	12	brought	bring	VERB
cjfa-12567	191	13	a	a	DET
cjfa-12567	191	14	significant	significant	ADJ
cjfa-12567	191	15	return	return	NOUN
cjfa-12567	191	16	.	.	PUNCT
cjfa-12567	192	1	as	as	SCONJ
cjfa-12567	192	2	can	can	AUX
cjfa-12567	192	3	be	be	AUX
cjfa-12567	192	4	seen	see	VERB
cjfa-12567	192	5	on	on	ADP
cjfa-12567	192	6	figure	figure	NOUN
cjfa-12567	192	7	below	below	ADV
cjfa-12567	192	8	,	,	PUNCT
cjfa-12567	192	9	equal	equal	ADJ
cjfa-12567	192	10	weighting	weight	VERB
cjfa-12567	192	11	index	index	NOUN
cjfa-12567	192	12	eliminates	eliminate	VERB
cjfa-12567	192	13	the	the	DET
cjfa-12567	192	14	problem	problem	NOUN
cjfa-12567	192	15	of	of	ADP
cjfa-12567	192	16	underweighting	underweighte	VERB
cjfa-12567	192	17	undervalued	undervalue	VERB
cjfa-12567	192	18	stocks	stock	NOUN
cjfa-12567	192	19	.	.	PUNCT
cjfa-12567	193	1	the	the	DET
cjfa-12567	193	2	weights	weight	NOUN
cjfa-12567	193	3	are	be	AUX
cjfa-12567	193	4	distributed	distribute	VERB
cjfa-12567	193	5	equally	equally	ADV
cjfa-12567	193	6	among	among	ADP
cjfa-12567	193	7	the	the	DET
cjfa-12567	193	8	assets	asset	NOUN
cjfa-12567	193	9	,	,	PUNCT
cjfa-12567	193	10	so	so	ADV
cjfa-12567	193	11	is	be	AUX
cjfa-12567	193	12	the	the	DET
cjfa-12567	193	13	risk	risk	NOUN
cjfa-12567	193	14	.	.	PUNCT
cjfa-12567	194	1	table	table	NOUN
cjfa-12567	194	2	1	1	NUM
cjfa-12567	194	3	compares	compare	VERB
cjfa-12567	194	4	annual	annual	ADJ
cjfa-12567	194	5	return	return	NOUN
cjfa-12567	194	6	from	from	ADP
cjfa-12567	194	7	cap	cap	NOUN
cjfa-12567	194	8	-	-	PUNCT
cjfa-12567	194	9	weighted	weight	VERB
cjfa-12567	194	10	and	and	CCONJ
cjfa-12567	194	11	equal	equal	ADJ
cjfa-12567	194	12	weighted	weight	VERB
cjfa-12567	194	13	wig20	wig20	PROPN
cjfa-12567	194	14	portfolio	portfolio	NOUN
cjfa-12567	194	15	.	.	PUNCT
cjfa-12567	195	1	the	the	DET
cjfa-12567	195	2	rebalancing	rebalancing	NOUN
cjfa-12567	195	3	of	of	ADP
cjfa-12567	195	4	the	the	DET
cjfa-12567	195	5	portfolio	portfolio	NOUN
cjfa-12567	195	6	has	have	AUX
cjfa-12567	195	7	been	be	AUX
cjfa-12567	195	8	eliminated	eliminate	VERB
cjfa-12567	195	9	to	to	PART
cjfa-12567	195	10	avoid	avoid	VERB
cjfa-12567	195	11	unnecessary	unnecessary	ADJ
cjfa-12567	195	12	calculations	calculation	NOUN
cjfa-12567	195	13	.	.	PUNCT
cjfa-12567	196	1	that	that	PRON
cjfa-12567	196	2	is	be	AUX
cjfa-12567	196	3	the	the	DET
cjfa-12567	196	4	reason	reason	NOUN
cjfa-12567	196	5	why	why	SCONJ
cjfa-12567	196	6	return	return	NOUN
cjfa-12567	196	7	rates	rate	NOUN
cjfa-12567	196	8	have	have	AUX
cjfa-12567	196	9	n’t	not	PART
cjfa-12567	196	10	been	be	AUX
cjfa-12567	196	11	compared	compare	VERB
cjfa-12567	196	12	in	in	ADP
cjfa-12567	196	13	the	the	DET
cjfa-12567	196	14	longer	long	ADJ
cjfa-12567	196	15	term	term	NOUN
cjfa-12567	196	16	than	than	ADP
cjfa-12567	196	17	a	a	DET
cjfa-12567	196	18	year	year	NOUN
cjfa-12567	196	19	.	.	PUNCT
cjfa-12567	197	1	in	in	ADP
cjfa-12567	197	2	a	a	DET
cjfa-12567	197	3	longer	long	ADJ
cjfa-12567	197	4	run	run	VERB
cjfa-12567	197	5	exclusion	exclusion	NOUN
cjfa-12567	197	6	of	of	ADP
cjfa-12567	197	7	the	the	DET
cjfa-12567	197	8	rebalancing	rebalancing	NOUN
cjfa-12567	197	9	process	process	NOUN
cjfa-12567	197	10	is	be	AUX
cjfa-12567	197	11	not	not	PART
cjfa-12567	197	12	an	an	DET
cjfa-12567	197	13	option	option	NOUN
cjfa-12567	197	14	,	,	PUNCT
cjfa-12567	197	15	because	because	SCONJ
cjfa-12567	197	16	without	without	ADP
cjfa-12567	197	17	frequent	frequent	ADJ
cjfa-12567	197	18	rebalancing	rebalancing	NOUN
cjfa-12567	197	19	of	of	ADP
cjfa-12567	197	20	the	the	DET
cjfa-12567	197	21	portfolio	portfolio	NOUN
cjfa-12567	197	22	weights	weight	NOUN
cjfa-12567	197	23	would	would	AUX
cjfa-12567	197	24	become	become	VERB
cjfa-12567	197	25	far	far	ADV
cjfa-12567	197	26	from	from	ADP
cjfa-12567	197	27	equal	equal	ADJ
cjfa-12567	197	28	.	.	PUNCT
cjfa-12567	198	1	concluding	conclude	VERB
cjfa-12567	198	2	this	this	DET
cjfa-12567	198	3	comparison	comparison	NOUN
cjfa-12567	198	4	,	,	PUNCT
cjfa-12567	198	5	equal	equal	ADJ
cjfa-12567	198	6	weighted	weight	VERB
cjfa-12567	198	7	portfolio	portfolio	NOUN
cjfa-12567	198	8	is	be	AUX
cjfa-12567	198	9	definitely	definitely	ADV
cjfa-12567	198	10	more	more	ADV
cjfa-12567	198	11	diversified	diversified	ADJ
cjfa-12567	198	12	than	than	ADP
cjfa-12567	198	13	cap	cap	NOUN
cjfa-12567	198	14	-	-	PUNCT
cjfa-12567	198	15	weighted	weight	VERB
cjfa-12567	198	16	.	.	PUNCT
cjfa-12567	199	1	the	the	DET
cjfa-12567	199	2	risk	risk	NOUN
cjfa-12567	199	3	is	be	AUX
cjfa-12567	199	4	distributed	distribute	VERB
cjfa-12567	199	5	equally	equally	ADV
cjfa-12567	199	6	among	among	ADP
cjfa-12567	199	7	the	the	DET
cjfa-12567	199	8	component	component	NOUN
cjfa-12567	199	9	stocks	stock	NOUN
cjfa-12567	199	10	.	.	PUNCT
cjfa-12567	200	1	comparing	compare	VERB
cjfa-12567	200	2	annual	annual	ADJ
cjfa-12567	200	3	return	return	NOUN
cjfa-12567	200	4	rates	rate	NOUN
cjfa-12567	200	5	,	,	PUNCT
cjfa-12567	200	6	it	it	PRON
cjfa-12567	200	7	’s	’	VERB
cjfa-12567	200	8	difficult	difficult	ADJ
cjfa-12567	200	9	not	not	PART
cjfa-12567	200	10	to	to	PART
cjfa-12567	200	11	perceive	perceive	VERB
cjfa-12567	200	12	that	that	SCONJ
cjfa-12567	200	13	diversification	diversification	NOUN
cjfa-12567	200	14	of	of	ADP
cjfa-12567	200	15	the	the	DET
cjfa-12567	200	16	portfolio	portfolio	NOUN
cjfa-12567	200	17	can	can	AUX
cjfa-12567	200	18	significantly	significantly	ADV
cjfa-12567	200	19	decrease	decrease	VERB
cjfa-12567	200	20	the	the	DET
cjfa-12567	200	21	risk	risk	NOUN
cjfa-12567	200	22	.	.	PUNCT
cjfa-12567	201	1	going	go	VERB
cjfa-12567	201	2	further	far	ADV
cjfa-12567	201	3	,	,	PUNCT
cjfa-12567	201	4	possible	possible	ADJ
cjfa-12567	201	5	losses	loss	NOUN
cjfa-12567	201	6	caused	cause	VERB
cjfa-12567	201	7	by	by	ADP
cjfa-12567	201	8	major	major	ADJ
cjfa-12567	201	9	assets	asset	NOUN
cjfa-12567	201	10	devaluation	devaluation	NOUN
cjfa-12567	201	11	can	can	AUX
cjfa-12567	201	12	be	be	AUX
cjfa-12567	201	13	reduced	reduce	VERB
cjfa-12567	201	14	.	.	PUNCT
cjfa-12567	202	1	in	in	ADP
cjfa-12567	202	2	this	this	DET
cjfa-12567	202	3	particular	particular	ADJ
cjfa-12567	202	4	case	case	NOUN
cjfa-12567	202	5	by	by	ADP
cjfa-12567	202	6	almost	almost	ADV
cjfa-12567	202	7	5	5	NUM
cjfa-12567	202	8	%	%	NOUN
cjfa-12567	202	9	.	.	PUNCT
cjfa-12567	203	1	table	table	NOUN
cjfa-12567	203	2	1	1	NUM
cjfa-12567	203	3	.	.	PUNCT
cjfa-12567	203	4	annual	annual	ADJ
cjfa-12567	203	5	return	return	NOUN
cjfa-12567	203	6	rate	rate	NOUN
cjfa-12567	203	7	:	:	PUNCT
cjfa-12567	203	8	cap	cap	NOUN
cjfa-12567	203	9	vs.	vs.	X
cjfa-12567	203	10	equal	equal	ADJ
cjfa-12567	203	11	weighted	weight	VERB
cjfa-12567	203	12	portfolio	portfolio	NOUN
cjfa-12567	203	13	annual	annual	ADJ
cjfa-12567	203	14	return	return	NOUN
cjfa-12567	203	15	annual	annual	ADJ
cjfa-12567	203	16	return	return	NOUN
cjfa-12567	203	17	difference	difference	NOUN
cjfa-12567	203	18	over	over	ADP
cjfa-12567	203	19	cap	cap	NOUN
cjfa-12567	203	20	-	-	PUNCT
cjfa-12567	203	21	weighting	weight	VERB
cjfa-12567	203	22	cap	cap	NOUN
cjfa-12567	203	23	-	-	PUNCT
cjfa-12567	203	24	weighted	weight	VERB
cjfa-12567	203	25	wig20	wig20	PROPN
cjfa-12567	203	26	-16,88	-16,88	INTJ
cjfa-12567	203	27	%	%	NOUN
cjfa-12567	203	28	–	–	PUNCT
cjfa-12567	203	29	equal	equal	ADJ
cjfa-12567	203	30	weighted	weight	VERB
cjfa-12567	203	31	wig20	wig20	PROPN
cjfa-12567	203	32	-12	-12	PROPN
cjfa-12567	203	33	,	,	PUNCT
cjfa-12567	203	34	21	21	NUM
cjfa-12567	203	35	%	%	NOUN
cjfa-12567	203	36	-4,67	-4,67	PUNCT
cjfa-12567	203	37	%	%	NOUN
cjfa-12567	203	38	s	s	PART
cjfa-12567	203	39	o	o	NOUN
cjfa-12567	203	40	u	u	NOUN
cjfa-12567	203	41	r	r	NOUN
cjfa-12567	203	42	c	c	NOUN
cjfa-12567	203	43	e	e	NOUN
cjfa-12567	203	44	:	:	PUNCT
cjfa-12567	203	45	author	author	NOUN
cjfa-12567	203	46	’s	’s	PART
cjfa-12567	203	47	elaboration	elaboration	NOUN
cjfa-12567	203	48	.	.	PUNCT
cjfa-12567	204	1	weighting	weight	VERB
cjfa-12567	204	2	for	for	ADP
cjfa-12567	204	3	maximum	maximum	PROPN
cjfa-12567	204	4	sharpe	sharpe	PROPN
cjfa-12567	204	5	ratio	ratio	NOUN
cjfa-12567	204	6	according	accord	VERB
cjfa-12567	204	7	to	to	ADP
cjfa-12567	204	8	modern	modern	ADJ
cjfa-12567	204	9	portfolio	portfolio	NOUN
cjfa-12567	204	10	theory	theory	NOUN
cjfa-12567	204	11	efficiently	efficiently	ADV
cjfa-12567	204	12	allocated	allocate	VERB
cjfa-12567	204	13	portfolio	portfolio	NOUN
cjfa-12567	204	14	,	,	PUNCT
cjfa-12567	204	15	called	call	VERB
cjfa-12567	204	16	also	also	ADV
cjfa-12567	204	17	the	the	DET
cjfa-12567	204	18	tangency	tangency	NOUN
cjfa-12567	204	19	portfolio	portfolio	NOUN
cjfa-12567	204	20	,	,	PUNCT
cjfa-12567	204	21	is	be	AUX
cjfa-12567	204	22	the	the	DET
cjfa-12567	204	23	one	one	NUM
cjfa-12567	204	24	with	with	ADP
cjfa-12567	204	25	the	the	DET
cjfa-12567	204	26	highest	high	ADJ
cjfa-12567	204	27	reward	reward	NOUN
cjfa-12567	204	28	/	/	SYM
cjfa-12567	204	29	risk	risk	NOUN
cjfa-12567	204	30	ratio	ratio	NOUN
cjfa-12567	204	31	.	.	PUNCT
cjfa-12567	205	1	in	in	ADP
cjfa-12567	205	2	other	other	ADJ
cjfa-12567	205	3	words	word	NOUN
cjfa-12567	205	4	,	,	PUNCT
cjfa-12567	205	5	investors	investor	NOUN
cjfa-12567	205	6	should	should	AUX
cjfa-12567	205	7	look	look	VERB
cjfa-12567	205	8	for	for	ADP
cjfa-12567	205	9	a	a	DET
cjfa-12567	205	10	portfolio	portfolio	NOUN
cjfa-12567	205	11	with	with	ADP
cjfa-12567	205	12	a	a	DET
cjfa-12567	205	13	highest	high	ADJ
cjfa-12567	205	14	sharpe	sharpe	NOUN
cjfa-12567	205	15	ratio	ratio	NOUN
cjfa-12567	205	16	,	,	PUNCT
cjfa-12567	205	17	which	which	PRON
cjfa-12567	205	18	is	be	AUX
cjfa-12567	205	19	defined	define	VERB
cjfa-12567	205	20	as	as	ADP
cjfa-12567	205	21	:	:	PUNCT
cjfa-12567	205	22	implementation	implementation	NOUN
cjfa-12567	205	23	of	of	ADP
cjfa-12567	205	24	alternative	alternative	ADJ
cjfa-12567	205	25	index	index	NOUN
cjfa-12567	205	26	weighting	weighting	NOUN
cjfa-12567	205	27	…	…	PUNCT
cjfa-12567	205	28	173	173	NUM
cjfa-12567	205	29	cap	cap	NOUN
cjfa-12567	205	30	-	-	PUNCT
cjfa-12567	205	31	weighting	weight	VERB
cjfa-12567	205	32	cap	cap	NOUN
cjfa-12567	205	33	-	-	PUNCT
cjfa-12567	205	34	weighted	weight	VERB
cjfa-12567	205	35	wig20	wig20	PROPN
cjfa-12567	205	36	-16,88	-16,88	INTJ
cjfa-12567	205	37	%	%	NOUN
cjfa-12567	205	38	equal	equal	ADJ
cjfa-12567	205	39	weighted	weight	VERB
cjfa-12567	205	40	wig20	wig20	PROPN
cjfa-12567	205	41	-12	-12	PROPN
cjfa-12567	205	42	,	,	PUNCT
cjfa-12567	205	43	21	21	NUM
cjfa-12567	205	44	%	%	NOUN
cjfa-12567	205	45	-4,67	-4,67	PUNCT
cjfa-12567	205	46	%	%	NOUN
cjfa-12567	205	47	source	source	NOUN
cjfa-12567	205	48	:	:	PUNCT
cjfa-12567	205	49	author	author	NOUN
cjfa-12567	205	50	’s	’s	PART
cjfa-12567	205	51	elaboration	elaboration	NOUN
cjfa-12567	205	52	.	.	PUNCT
cjfa-12567	206	1	weighting	weight	VERB
cjfa-12567	206	2	for	for	ADP
cjfa-12567	206	3	maximum	maximum	PROPN
cjfa-12567	206	4	sharpe	sharpe	PROPN
cjfa-12567	206	5	ratio	ratio	NOUN
cjfa-12567	206	6	according	accord	VERB
cjfa-12567	206	7	to	to	ADP
cjfa-12567	206	8	modern	modern	ADJ
cjfa-12567	206	9	portfolio	portfolio	NOUN
cjfa-12567	206	10	theory	theory	NOUN
cjfa-12567	206	11	efficiently	efficiently	ADV
cjfa-12567	206	12	allocated	allocate	VERB
cjfa-12567	206	13	portfolio	portfolio	NOUN
cjfa-12567	206	14	,	,	PUNCT
cjfa-12567	206	15	called	call	VERB
cjfa-12567	206	16	also	also	ADV
cjfa-12567	206	17	the	the	DET
cjfa-12567	206	18	tangency	tangency	NOUN
cjfa-12567	206	19	portfolio	portfolio	NOUN
cjfa-12567	206	20	,	,	PUNCT
cjfa-12567	206	21	is	be	AUX
cjfa-12567	206	22	the	the	DET
cjfa-12567	206	23	one	one	NUM
cjfa-12567	206	24	with	with	ADP
cjfa-12567	206	25	the	the	DET
cjfa-12567	206	26	highest	high	ADJ
cjfa-12567	206	27	reward	reward	NOUN
cjfa-12567	206	28	/	/	SYM
cjfa-12567	206	29	risk	risk	NOUN
cjfa-12567	206	30	ratio	ratio	NOUN
cjfa-12567	206	31	.	.	PUNCT
cjfa-12567	207	1	in	in	ADP
cjfa-12567	207	2	other	other	ADJ
cjfa-12567	207	3	words	word	NOUN
cjfa-12567	207	4	,	,	PUNCT
cjfa-12567	207	5	investors	investor	NOUN
cjfa-12567	207	6	should	should	AUX
cjfa-12567	207	7	look	look	VERB
cjfa-12567	207	8	for	for	ADP
cjfa-12567	207	9	a	a	DET
cjfa-12567	207	10	portfolio	portfolio	NOUN
cjfa-12567	207	11	with	with	ADP
cjfa-12567	207	12	a	a	DET
cjfa-12567	207	13	highest	high	ADJ
cjfa-12567	207	14	sharpe	sharpe	NOUN
cjfa-12567	207	15	ratio	ratio	NOUN
cjfa-12567	207	16	,	,	PUNCT
cjfa-12567	207	17	which	which	PRON
cjfa-12567	207	18	is	be	AUX
cjfa-12567	207	19	defined	define	VERB
cjfa-12567	207	20	as	as	ADP
cjfa-12567	207	21	:	:	PUNCT
cjfa-12567	207	22	�	�	PROPN
cjfa-12567	207	23	�	�	PROPN
cjfa-12567	207	24	�	�	PROPN
cjfa-12567	207	25	=	=	SYM
cjfa-12567	207	26	�	�	PROPN
cjfa-12567	207	27	�	�	PROPN
cjfa-12567	207	28	�	�	PROPN
cjfa-12567	207	29	�	�	PROPN
cjfa-12567	207	30	�	�	PROPN
cjfa-12567	207	31	�	�	PROPN
cjfa-12567	207	32	�	�	PROPN
cjfa-12567	207	33	�	�	PROPN
cjfa-12567	207	34	�	�	PROPN
cjfa-12567	207	35	�	�	PROPN
cjfa-12567	207	36	∑	∑	PROPN
cjfa-12567	207	37	�	�	PROPN
cjfa-12567	207	38	�	�	PROPN
cjfa-12567	207	39	�	�	PROPN
cjfa-12567	207	40	�	�	PROPN
cjfa-12567	207	41	�	�	PROPN
cjfa-12567	207	42	�	�	PROPN
cjfa-12567	207	43	�	�	PROPN
cjfa-12567	207	44	�	�	PROPN
cjfa-12567	207	45	�	�	PROPN
cjfa-12567	207	46	�	�	PROPN
cjfa-12567	207	47	,	,	PUNCT
cjfa-12567	207	48	where	where	SCONJ
cjfa-12567	207	49			NOUN
cjfa-12567	207	50	-vector	-vector	NOUN
cjfa-12567	207	51	of	of	ADP
cjfa-12567	207	52	expected	expect	VERB
cjfa-12567	207	53	return	return	NOUN
cjfa-12567	207	54	in	in	ADP
cjfa-12567	207	55	excess	excess	NOUN
cjfa-12567	207	56	of	of	ADP
cjfa-12567	207	57	risk	risk	NOUN
cjfa-12567	207	58	free	free	ADJ
cjfa-12567	207	59	rate	rate	NOUN
cjfa-12567	207	60	,	,	PUNCT
cjfa-12567	207	61	�	�	PROPN
cjfa-12567	207	62	�	�	PROPN
cjfa-12567	207	63	risk	risk	NOUN
cjfa-12567	207	64	free	free	ADJ
cjfa-12567	207	65	rate	rate	NOUN
cjfa-12567	207	66	,	,	PUNCT
cjfa-12567	207	67			X
cjfa-12567	207	68	the	the	DET
cjfa-12567	207	69	covariance	covariance	NOUN
cjfa-12567	207	70	matrix	matrix	NOUN
cjfa-12567	207	71	for	for	ADP
cjfa-12567	207	72	returns	return	NOUN
cjfa-12567	207	73	of	of	ADP
cjfa-12567	207	74	these	these	DET
cjfa-12567	207	75	elements	element	NOUN
cjfa-12567	207	76	.	.	PUNCT
cjfa-12567	208	1	amenc	amenc	PROPN
cjfa-12567	208	2	,	,	PUNCT
cjfa-12567	208	3	goltz	goltz	NOUN
cjfa-12567	208	4	and	and	CCONJ
cjfa-12567	208	5	martellini	martellini	NOUN
cjfa-12567	208	6	in	in	ADP
cjfa-12567	208	7	the	the	DET
cjfa-12567	208	8	result	result	NOUN
cjfa-12567	208	9	of	of	ADP
cjfa-12567	208	10	the	the	DET
cjfa-12567	208	11	estimation	estimation	NOUN
cjfa-12567	208	12	of	of	ADP
cjfa-12567	208	13	risk	risk	NOUN
cjfa-12567	208	14	and	and	CCONJ
cjfa-12567	208	15	expected	expect	VERB
cjfa-12567	208	16	return	return	NOUN
cjfa-12567	208	17	,	,	PUNCT
cjfa-12567	208	18	proposed	propose	VERB
cjfa-12567	208	19	the	the	DET
cjfa-12567	208	20	weights	weight	NOUN
cjfa-12567	208	21	optimization	optimization	NOUN
cjfa-12567	208	22	formula	formula	NOUN
cjfa-12567	208	23	:	:	PUNCT
cjfa-12567	208	24	w∗	w∗	NOUN
cjfa-12567	208	25	=	=	SYM
cjfa-12567	208	26	argmax	argmax	NOUN
cjfa-12567	208	27	�	�	PROPN
cjfa-12567	208	28	�	�	PROPN
cjfa-12567	208	29	�	�	PROPN
cjfa-12567	208	30	�	�	PROPN
cjfa-12567	208	31	�	�	PROPN
cjfa-12567	208	32	�	�	PROPN
cjfa-12567	208	33	�	�	PROPN
cjfa-12567	208	34	�	�	PROPN
cjfa-12567	208	35	�	�	PROPN
cjfa-12567	208	36	�	�	PROPN
cjfa-12567	208	37	�	�	PROPN
cjfa-12567	208	38	∑	∑	PROPN
cjfa-12567	208	39	�	�	PROPN
cjfa-12567	208	40	�	�	PROPN
cjfa-12567	208	41	�	�	PROPN
cjfa-12567	208	42	�	�	PROPN
cjfa-12567	208	43	�	�	PROPN
cjfa-12567	208	44	�	�	PROPN
cjfa-12567	208	45	�	�	PROPN
cjfa-12567	208	46	�	�	PROPN
cjfa-12567	208	47	�	�	PROPN
cjfa-12567	208	48	�	�	PROPN
cjfa-12567	208	49	,	,	PUNCT
cjfa-12567	208	50	where	where	SCONJ
cjfa-12567	208	51	w	w	NOUN
cjfa-12567	208	52	*	*	ADJ
cjfa-12567	208	53	efficient	efficient	ADJ
cjfa-12567	208	54	weights	weight	NOUN
cjfa-12567	208	55	.	.	PUNCT
cjfa-12567	209	1	the	the	DET
cjfa-12567	209	2	goal	goal	NOUN
cjfa-12567	209	3	of	of	ADP
cjfa-12567	209	4	this	this	DET
cjfa-12567	209	5	approach	approach	NOUN
cjfa-12567	209	6	is	be	AUX
cjfa-12567	209	7	to	to	PART
cjfa-12567	209	8	generate	generate	VERB
cjfa-12567	209	9	the	the	DET
cjfa-12567	209	10	highest	high	ADJ
cjfa-12567	209	11	return	return	NOUN
cjfa-12567	209	12	from	from	ADP
cjfa-12567	209	13	a	a	DET
cjfa-12567	209	14	unit	unit	NOUN
cjfa-12567	209	15	of	of	ADP
cjfa-12567	209	16	risk	risk	NOUN
cjfa-12567	209	17	and	and	CCONJ
cjfa-12567	209	18	increase	increase	VERB
cjfa-12567	209	19	return	return	NOUN
cjfa-12567	209	20	/	/	SYM
cjfa-12567	209	21	risk	risk	NOUN
cjfa-12567	209	22	efficiency	efficiency	NOUN
cjfa-12567	209	23	.	.	PUNCT
cjfa-12567	210	1	going	go	VERB
cjfa-12567	210	2	further	far	ADV
cjfa-12567	210	3	,	,	PUNCT
cjfa-12567	210	4	it	it	PRON
cjfa-12567	210	5	can	can	AUX
cjfa-12567	210	6	be	be	AUX
cjfa-12567	210	7	hypothesized	hypothesize	VERB
cjfa-12567	210	8	,	,	PUNCT
cjfa-12567	210	9	that	that	PRON
cjfa-12567	210	10	msr	msr	NOUN
cjfa-12567	210	11	portfolios	portfolio	NOUN
cjfa-12567	210	12	will	will	AUX
cjfa-12567	210	13	bring	bring	VERB
cjfa-12567	210	14	a	a	DET
cjfa-12567	210	15	constant	constant	ADJ
cjfa-12567	210	16	return	return	NOUN
cjfa-12567	210	17	with	with	ADP
cjfa-12567	210	18	a	a	DET
cjfa-12567	210	19	stable	stable	ADJ
cjfa-12567	210	20	level	level	NOUN
cjfa-12567	210	21	of	of	ADP
cjfa-12567	210	22	risk	risk	NOUN
cjfa-12567	210	23	.	.	PUNCT
cjfa-12567	211	1	of	of	ADP
cjfa-12567	211	2	course	course	NOUN
cjfa-12567	211	3	,	,	PUNCT
cjfa-12567	211	4	max	max	PROPN
cjfa-12567	211	5	sharpie	sharpie	PROPN
cjfa-12567	211	6	ratio	ratio	PROPN
cjfa-12567	211	7	index	index	NOUN
cjfa-12567	211	8	needs	need	VERB
cjfa-12567	211	9	to	to	PART
cjfa-12567	211	10	be	be	AUX
cjfa-12567	211	11	rebalanced	rebalance	VERB
cjfa-12567	211	12	in	in	ADP
cjfa-12567	211	13	frequent	frequent	ADJ
cjfa-12567	211	14	intervals	interval	NOUN
cjfa-12567	211	15	.	.	PUNCT
cjfa-12567	212	1	the	the	DET
cjfa-12567	212	2	question	question	NOUN
cjfa-12567	212	3	:	:	PUNCT
cjfa-12567	212	4	is	be	AUX
cjfa-12567	212	5	how	how	SCONJ
cjfa-12567	212	6	frequent	frequent	ADJ
cjfa-12567	212	7	?	?	PUNCT
cjfa-12567	213	1	there	there	PRON
cjfa-12567	213	2	are	be	VERB
cjfa-12567	213	3	approaches	approach	NOUN
cjfa-12567	213	4	,	,	PUNCT
cjfa-12567	213	5	which	which	PRON
cjfa-12567	213	6	recommend	recommend	VERB
cjfa-12567	213	7	quarterly	quarterly	ADJ
cjfa-12567	213	8	rebalancing	rebalancing	NOUN
cjfa-12567	213	9	.	.	PUNCT
cjfa-12567	214	1	however	however	ADV
cjfa-12567	214	2	,	,	PUNCT
cjfa-12567	214	3	managing	manage	VERB
cjfa-12567	214	4	transaction	transaction	NOUN
cjfa-12567	214	5	costs	cost	NOUN
cjfa-12567	214	6	,	,	PUNCT
cjfa-12567	214	7	it	it	PRON
cjfa-12567	214	8	is	be	AUX
cjfa-12567	214	9	reasonable	reasonable	ADJ
cjfa-12567	214	10	to	to	ADP
cjfa-12567	214	11	rebalance	rebalance	NOUN
cjfa-12567	214	12	whenever	whenever	SCONJ
cjfa-12567	214	13	it	it	PRON
cjfa-12567	214	14	’s	’s	AUX
cjfa-12567	214	15	needed	need	VERB
cjfa-12567	214	16	,	,	PUNCT
cjfa-12567	214	17	disregarding	disregard	VERB
cjfa-12567	214	18	time	time	NOUN
cjfa-12567	214	19	periods	period	NOUN
cjfa-12567	214	20	.	.	PUNCT
cjfa-12567	215	1	amenc	amenc	PROPN
cjfa-12567	215	2	recommends	recommend	VERB
cjfa-12567	215	3	to	to	PART
cjfa-12567	215	4	rebalance	rebalance	VERB
cjfa-12567	215	5	the	the	DET
cjfa-12567	215	6	weights	weight	NOUN
cjfa-12567	215	7	whenever	whenever	SCONJ
cjfa-12567	215	8	they	they	PRON
cjfa-12567	215	9	will	will	AUX
cjfa-12567	215	10	exceed	exceed	VERB
cjfa-12567	215	11	certain	certain	ADJ
cjfa-12567	215	12	,	,	PUNCT
cjfa-12567	215	13	previously	previously	ADV
cjfa-12567	215	14	set	set	VERB
cjfa-12567	215	15	proportions	proportion	NOUN
cjfa-12567	215	16	.	.	PUNCT
cjfa-12567	216	1	the	the	DET
cjfa-12567	216	2	researches	research	NOUN
cjfa-12567	216	3	proves	prove	VERB
cjfa-12567	216	4	that	that	SCONJ
cjfa-12567	216	5	efficient	efficient	ADJ
cjfa-12567	216	6	indexation	indexation	NOUN
cjfa-12567	216	7	brings	bring	VERB
cjfa-12567	216	8	significantly	significantly	ADV
cjfa-12567	216	9	lower	low	ADJ
cjfa-12567	216	10	tracking	tracking	NOUN
cjfa-12567	216	11	error	error	NOUN
cjfa-12567	216	12	than	than	ADP
cjfa-12567	216	13	cap	cap	NOUN
cjfa-12567	216	14	-	-	PUNCT
cjfa-12567	216	15	weighted	weight	VERB
cjfa-12567	216	16	indices	index	NOUN
cjfa-12567	216	17	(	(	PUNCT
cjfa-12567	216	18	amenc	amenc	PROPN
cjfa-12567	216	19	et	et	PROPN
cjfa-12567	216	20	al	al	PROPN
cjfa-12567	216	21	.	.	PROPN
cjfa-12567	216	22	,	,	PUNCT
cjfa-12567	216	23	2010	2010	NUM
cjfa-12567	216	24	)	)	PUNCT
cjfa-12567	216	25	.	.	PUNCT
cjfa-12567	217	1	on	on	ADP
cjfa-12567	217	2	the	the	DET
cjfa-12567	217	3	other	other	ADJ
cjfa-12567	217	4	hand	hand	NOUN
cjfa-12567	217	5	,	,	PUNCT
cjfa-12567	217	6	msr	msr	NOUN
cjfa-12567	217	7	portfolio	portfolio	NOUN
cjfa-12567	217	8	is	be	AUX
cjfa-12567	217	9	based	base	VERB
cjfa-12567	217	10	on	on	ADP
cjfa-12567	217	11	the	the	DET
cjfa-12567	217	12	assumption	assumption	NOUN
cjfa-12567	217	13	,	,	PUNCT
cjfa-12567	217	14	that	that	SCONJ
cjfa-12567	217	15	the	the	DET
cjfa-12567	217	16	return	return	NOUN
cjfa-12567	217	17	is	be	AUX
cjfa-12567	217	18	proportional	proportional	ADJ
cjfa-12567	217	19	to	to	AUX
cjfa-12567	217	20	risk	risk	VERB
cjfa-12567	217	21	,	,	PUNCT
cjfa-12567	217	22	what	what	PRON
cjfa-12567	217	23	may	may	AUX
cjfa-12567	217	24	cause	cause	VERB
cjfa-12567	217	25	exclusion	exclusion	NOUN
cjfa-12567	217	26	of	of	ADP
cjfa-12567	217	27	low	low	ADJ
cjfa-12567	217	28	–	–	PUNCT
cjfa-12567	217	29	risk	risk	NOUN
cjfa-12567	217	30	stocks	stock	NOUN
cjfa-12567	217	31	.	.	PUNCT
cjfa-12567	218	1	generally	generally	ADV
cjfa-12567	218	2	speaking	speak	VERB
cjfa-12567	218	3	,	,	PUNCT
cjfa-12567	218	4	efficient	efficient	ADJ
cjfa-12567	218	5	indexation	indexation	NOUN
cjfa-12567	218	6	brings	bring	VERB
cjfa-12567	218	7	lower	low	ADJ
cjfa-12567	218	8	volatility	volatility	NOUN
cjfa-12567	218	9	and	and	CCONJ
cjfa-12567	218	10	higher	high	ADJ
cjfa-12567	218	11	returns	return	NOUN
cjfa-12567	218	12	that	that	PRON
cjfa-12567	218	13	cap	cap	NOUN
cjfa-12567	218	14	-	-	PUNCT
cjfa-12567	218	15	weighted	weight	VERB
cjfa-12567	218	16	indices	index	NOUN
cjfa-12567	218	17	.	.	PUNCT
cjfa-12567	219	1	going	go	VERB
cjfa-12567	219	2	back	back	ADV
cjfa-12567	219	3	to	to	ADP
cjfa-12567	219	4	polish	polish	ADJ
cjfa-12567	219	5	market	market	NOUN
cjfa-12567	219	6	,	,	PUNCT
cjfa-12567	219	7	figure	figure	VERB
cjfa-12567	219	8	4	4	NUM
cjfa-12567	219	9	compares	compare	NOUN
cjfa-12567	219	10	capweighted	capweighte	VERB
cjfa-12567	219	11	wig20	wig20	PROPN
cjfa-12567	219	12	to	to	PART
cjfa-12567	219	13	msr	msr	VERB
cjfa-12567	219	14	weighted	weight	VERB
cjfa-12567	219	15	index	index	NOUN
cjfa-12567	219	16	based	base	VERB
cjfa-12567	219	17	on	on	ADP
cjfa-12567	219	18	wig20	wig20	PROPN
cjfa-12567	219	19	components	component	NOUN
cjfa-12567	219	20	.	.	PUNCT
cjfa-12567	220	1	it	it	PRON
cjfa-12567	220	2	was	be	AUX
cjfa-12567	220	3	created	create	VERB
cjfa-12567	220	4	by	by	ADP
cjfa-12567	220	5	maximizing	maximize	VERB
cjfa-12567	220	6	sharpie	sharpie	NOUN
cjfa-12567	220	7	ratio	ratio	NOUN
cjfa-12567	220	8	calculated	calculate	VERB
cjfa-12567	220	9	on	on	ADP
cjfa-12567	220	10	the	the	DET
cjfa-12567	220	11	ground	ground	NOUN
cjfa-12567	220	12	of	of	ADP
cjfa-12567	220	13	monthly	monthly	ADJ
cjfa-12567	220	14	return	return	NOUN
cjfa-12567	220	15	rates	rate	NOUN
cjfa-12567	220	16	of	of	ADP
cjfa-12567	220	17	wig20	wig20	PROPN
cjfa-12567	220	18	companies	company	NOUN
cjfa-12567	220	19	(	(	PUNCT
cjfa-12567	220	20	data	datum	NOUN
cjfa-12567	220	21	range	range	NOUN
cjfa-12567	220	22	:	:	PUNCT
cjfa-12567	220	23	01.2013	01.2013	NUM
cjfa-12567	220	24	-	-	PUNCT
cjfa-12567	220	25	07.2016	07.2016	NUM
cjfa-12567	220	26	)	)	PUNCT
cjfa-12567	220	27	.	.	PUNCT
cjfa-12567	221	1	as	as	SCONJ
cjfa-12567	221	2	the	the	DET
cjfa-12567	221	3	figure	figure	NOUN
cjfa-12567	221	4	shows	show	VERB
cjfa-12567	221	5	,	,	PUNCT
cjfa-12567	221	6	only	only	ADV
cjfa-12567	221	7	four	four	NUM
cjfa-12567	221	8	assets	asset	NOUN
cjfa-12567	221	9	has	have	AUX
cjfa-12567	221	10	been	be	AUX
cjfa-12567	221	11	chosen	choose	VERB
cjfa-12567	221	12	to	to	ADP
cjfa-12567	221	13	the	the	DET
cjfa-12567	221	14	index	index	NOUN
cjfa-12567	221	15	.	.	PUNCT
cjfa-12567	222	1	qualifying	qualify	VERB
cjfa-12567	222	2	any	any	DET
cjfa-12567	222	3	other	other	ADJ
cjfa-12567	222	4	wig20	wig20	PROPN
cjfa-12567	222	5	companies	company	NOUN
cjfa-12567	222	6	would	would	AUX
cjfa-12567	222	7	result	result	VERB
cjfa-12567	222	8	in	in	ADP
cjfa-12567	222	9	lower	low	ADJ
cjfa-12567	222	10	sharpie	sharpie	NOUN
cjfa-12567	222	11	ratio	ratio	NOUN
cjfa-12567	222	12	.	.	PUNCT
cjfa-12567	223	1	to	to	PART
cjfa-12567	223	2	increase	increase	VERB
cjfa-12567	223	3	diversification	diversification	NOUN
cjfa-12567	223	4	,	,	PUNCT
cjfa-12567	223	5	adding	add	VERB
cjfa-12567	223	6	some	some	DET
cjfa-12567	223	7	constrains	constrain	NOUN
cjfa-12567	223	8	,	,	PUNCT
cjfa-12567	223	9	like	like	ADP
cjfa-12567	223	10	minimum	minimum	ADJ
cjfa-12567	223	11	weights	weight	NOUN
cjfa-12567	223	12	,	,	PUNCT
cjfa-12567	223	13	can	can	AUX
cjfa-12567	223	14	be	be	AUX
cjfa-12567	223	15	considered	consider	VERB
cjfa-12567	223	16	,	,	PUNCT
cjfa-12567	223	17	but	but	CCONJ
cjfa-12567	223	18	it	it	PRON
cjfa-12567	223	19	will	will	AUX
cjfa-12567	223	20	not	not	PART
cjfa-12567	223	21	increase	increase	VERB
cjfa-12567	223	22	the	the	DET
cjfa-12567	223	23	efficacy	efficacy	NOUN
cjfa-12567	223	24	.	.	PUNCT
cjfa-12567	224	1	to	to	PART
cjfa-12567	224	2	construct	construct	VERB
cjfa-12567	224	3	effective	effective	ADJ
cjfa-12567	224	4	index	index	NOUN
cjfa-12567	224	5	an	an	DET
cjfa-12567	224	6	investor	investor	NOUN
cjfa-12567	224	7	,	,	PUNCT
cjfa-12567	224	8	where	where	SCONJ
cjfa-12567	224	9	:	:	PUNCT
cjfa-12567	224	10	µ	µ	X
cjfa-12567	224	11	–	–	PUNCT
cjfa-12567	224	12	vector	vector	NOUN
cjfa-12567	224	13	of	of	ADP
cjfa-12567	224	14	expected	expect	VERB
cjfa-12567	224	15	return	return	NOUN
cjfa-12567	224	16	in	in	ADP
cjfa-12567	224	17	excess	excess	NOUN
cjfa-12567	224	18	of	of	ADP
cjfa-12567	224	19	risk	risk	NOUN
cjfa-12567	224	20	free	free	ADJ
cjfa-12567	224	21	rate	rate	NOUN
cjfa-12567	224	22	,	,	PUNCT
cjfa-12567	224	23	r0	r0	NOUN
cjfa-12567	224	24	–	–	PUNCT
cjfa-12567	224	25	risk	risk	NOUN
cjfa-12567	224	26	free	free	ADJ
cjfa-12567	224	27	rate	rate	NOUN
cjfa-12567	224	28	,	,	PUNCT
cjfa-12567	224	29	∑	∑	PROPN
cjfa-12567	224	30	–	–	PUNCT
cjfa-12567	224	31	the	the	DET
cjfa-12567	224	32	covariance	covariance	NOUN
cjfa-12567	224	33	matrix	matrix	NOUN
cjfa-12567	224	34	for	for	ADP
cjfa-12567	224	35	returns	return	NOUN
cjfa-12567	224	36	of	of	ADP
cjfa-12567	224	37	these	these	DET
cjfa-12567	224	38	elements	element	NOUN
cjfa-12567	224	39	.	.	PUNCT
cjfa-12567	225	1	amenc	amenc	PROPN
cjfa-12567	225	2	,	,	PUNCT
cjfa-12567	225	3	goltz	goltz	NOUN
cjfa-12567	225	4	and	and	CCONJ
cjfa-12567	225	5	martellini	martellini	NOUN
cjfa-12567	225	6	in	in	ADP
cjfa-12567	225	7	the	the	DET
cjfa-12567	225	8	result	result	NOUN
cjfa-12567	225	9	of	of	ADP
cjfa-12567	225	10	the	the	DET
cjfa-12567	225	11	estimation	estimation	NOUN
cjfa-12567	225	12	of	of	ADP
cjfa-12567	225	13	risk	risk	NOUN
cjfa-12567	225	14	and	and	CCONJ
cjfa-12567	225	15	expected	expect	VERB
cjfa-12567	225	16	return	return	NOUN
cjfa-12567	225	17	,	,	PUNCT
cjfa-12567	225	18	proposed	propose	VERB
cjfa-12567	225	19	the	the	DET
cjfa-12567	225	20	weights	weight	NOUN
cjfa-12567	225	21	optimization	optimization	NOUN
cjfa-12567	225	22	formula	formula	NOUN
cjfa-12567	225	23	:	:	PUNCT
cjfa-12567	225	24	cap	cap	NOUN
cjfa-12567	225	25	-	-	PUNCT
cjfa-12567	225	26	weighting	weight	VERB
cjfa-12567	225	27	cap	cap	NOUN
cjfa-12567	225	28	-	-	PUNCT
cjfa-12567	225	29	weighted	weight	VERB
cjfa-12567	225	30	wig20	wig20	PROPN
cjfa-12567	226	1	-16,88	-16,88	INTJ
cjfa-12567	226	2	%	%	NOUN
cjfa-12567	226	3	equal	equal	ADJ
cjfa-12567	226	4	weighted	weight	VERB
cjfa-12567	226	5	wig20	wig20	PROPN
cjfa-12567	226	6	-12	-12	PROPN
cjfa-12567	226	7	,	,	PUNCT
cjfa-12567	226	8	21	21	NUM
cjfa-12567	226	9	%	%	NOUN
cjfa-12567	226	10	-4,67	-4,67	PUNCT
cjfa-12567	226	11	%	%	NOUN
cjfa-12567	226	12	source	source	NOUN
cjfa-12567	226	13	:	:	PUNCT
cjfa-12567	226	14	author	author	NOUN
cjfa-12567	226	15	’s	’s	PART
cjfa-12567	226	16	elaboration	elaboration	NOUN
cjfa-12567	226	17	.	.	PUNCT
cjfa-12567	227	1	weighting	weight	VERB
cjfa-12567	227	2	for	for	ADP
cjfa-12567	227	3	maximum	maximum	PROPN
cjfa-12567	227	4	sharpe	sharpe	PROPN
cjfa-12567	227	5	ratio	ratio	NOUN
cjfa-12567	227	6	according	accord	VERB
cjfa-12567	227	7	to	to	ADP
cjfa-12567	227	8	modern	modern	ADJ
cjfa-12567	227	9	portfolio	portfolio	NOUN
cjfa-12567	227	10	theory	theory	NOUN
cjfa-12567	227	11	efficiently	efficiently	ADV
cjfa-12567	227	12	allocated	allocate	VERB
cjfa-12567	227	13	portfolio	portfolio	NOUN
cjfa-12567	227	14	,	,	PUNCT
cjfa-12567	227	15	called	call	VERB
cjfa-12567	227	16	also	also	ADV
cjfa-12567	227	17	the	the	DET
cjfa-12567	227	18	tangency	tangency	NOUN
cjfa-12567	227	19	portfolio	portfolio	NOUN
cjfa-12567	227	20	,	,	PUNCT
cjfa-12567	227	21	is	be	AUX
cjfa-12567	227	22	the	the	DET
cjfa-12567	227	23	one	one	NUM
cjfa-12567	227	24	with	with	ADP
cjfa-12567	227	25	the	the	DET
cjfa-12567	227	26	highest	high	ADJ
cjfa-12567	227	27	reward	reward	NOUN
cjfa-12567	227	28	/	/	SYM
cjfa-12567	227	29	risk	risk	NOUN
cjfa-12567	227	30	ratio	ratio	NOUN
cjfa-12567	227	31	.	.	PUNCT
cjfa-12567	228	1	in	in	ADP
cjfa-12567	228	2	other	other	ADJ
cjfa-12567	228	3	words	word	NOUN
cjfa-12567	228	4	,	,	PUNCT
cjfa-12567	228	5	investors	investor	NOUN
cjfa-12567	228	6	should	should	AUX
cjfa-12567	228	7	look	look	VERB
cjfa-12567	228	8	for	for	ADP
cjfa-12567	228	9	a	a	DET
cjfa-12567	228	10	portfolio	portfolio	NOUN
cjfa-12567	228	11	with	with	ADP
cjfa-12567	228	12	a	a	DET
cjfa-12567	228	13	highest	high	ADJ
cjfa-12567	228	14	sharpe	sharpe	NOUN
cjfa-12567	228	15	ratio	ratio	NOUN
cjfa-12567	228	16	,	,	PUNCT
cjfa-12567	228	17	which	which	PRON
cjfa-12567	228	18	is	be	AUX
cjfa-12567	228	19	defined	define	VERB
cjfa-12567	228	20	as	as	ADP
cjfa-12567	228	21	:	:	PUNCT
cjfa-12567	228	22	�	�	PROPN
cjfa-12567	228	23	�	�	PROPN
cjfa-12567	228	24	�	�	PROPN
cjfa-12567	228	25	=	=	SYM
cjfa-12567	228	26	�	�	PROPN
cjfa-12567	228	27	�	�	PROPN
cjfa-12567	228	28	�	�	PROPN
cjfa-12567	228	29	�	�	PROPN
cjfa-12567	228	30	�	�	PROPN
cjfa-12567	228	31	�	�	PROPN
cjfa-12567	228	32	�	�	PROPN
cjfa-12567	228	33	�	�	PROPN
cjfa-12567	228	34	�	�	PROPN
cjfa-12567	228	35	�	�	PROPN
cjfa-12567	228	36	∑	∑	PROPN
cjfa-12567	228	37	�	�	PROPN
cjfa-12567	228	38	�	�	PROPN
cjfa-12567	228	39	�	�	PROPN
cjfa-12567	228	40	�	�	PROPN
cjfa-12567	228	41	�	�	PROPN
cjfa-12567	228	42	�	�	PROPN
cjfa-12567	228	43	�	�	PROPN
cjfa-12567	228	44	�	�	PROPN
cjfa-12567	228	45	�	�	PROPN
cjfa-12567	228	46	�	�	PROPN
cjfa-12567	228	47	,	,	PUNCT
cjfa-12567	228	48	where	where	SCONJ
cjfa-12567	228	49			NOUN
cjfa-12567	228	50	-vector	-vector	NOUN
cjfa-12567	228	51	of	of	ADP
cjfa-12567	228	52	expected	expect	VERB
cjfa-12567	228	53	return	return	NOUN
cjfa-12567	228	54	in	in	ADP
cjfa-12567	228	55	excess	excess	NOUN
cjfa-12567	228	56	of	of	ADP
cjfa-12567	228	57	risk	risk	NOUN
cjfa-12567	228	58	free	free	ADJ
cjfa-12567	228	59	rate	rate	NOUN
cjfa-12567	228	60	,	,	PUNCT
cjfa-12567	228	61	�	�	PROPN
cjfa-12567	228	62	�	�	PROPN
cjfa-12567	228	63	risk	risk	NOUN
cjfa-12567	228	64	free	free	ADJ
cjfa-12567	228	65	rate	rate	NOUN
cjfa-12567	228	66	,	,	PUNCT
cjfa-12567	228	67			X
cjfa-12567	228	68	the	the	DET
cjfa-12567	228	69	covariance	covariance	NOUN
cjfa-12567	228	70	matrix	matrix	NOUN
cjfa-12567	228	71	for	for	ADP
cjfa-12567	228	72	returns	return	NOUN
cjfa-12567	228	73	of	of	ADP
cjfa-12567	228	74	these	these	DET
cjfa-12567	228	75	elements	element	NOUN
cjfa-12567	228	76	.	.	PUNCT
cjfa-12567	229	1	amenc	amenc	PROPN
cjfa-12567	229	2	,	,	PUNCT
cjfa-12567	229	3	goltz	goltz	NOUN
cjfa-12567	229	4	and	and	CCONJ
cjfa-12567	229	5	martellini	martellini	NOUN
cjfa-12567	229	6	in	in	ADP
cjfa-12567	229	7	the	the	DET
cjfa-12567	229	8	result	result	NOUN
cjfa-12567	229	9	of	of	ADP
cjfa-12567	229	10	the	the	DET
cjfa-12567	229	11	estimation	estimation	NOUN
cjfa-12567	229	12	of	of	ADP
cjfa-12567	229	13	risk	risk	NOUN
cjfa-12567	229	14	and	and	CCONJ
cjfa-12567	229	15	expected	expect	VERB
cjfa-12567	229	16	return	return	NOUN
cjfa-12567	229	17	,	,	PUNCT
cjfa-12567	229	18	proposed	propose	VERB
cjfa-12567	229	19	the	the	DET
cjfa-12567	229	20	weights	weight	NOUN
cjfa-12567	229	21	optimization	optimization	NOUN
cjfa-12567	229	22	formula	formula	NOUN
cjfa-12567	229	23	:	:	PUNCT
cjfa-12567	229	24	w∗	w∗	NOUN
cjfa-12567	229	25	=	=	SYM
cjfa-12567	229	26	argmax	argmax	NOUN
cjfa-12567	229	27	�	�	PROPN
cjfa-12567	229	28	�	�	PROPN
cjfa-12567	229	29	�	�	PROPN
cjfa-12567	229	30	�	�	PROPN
cjfa-12567	229	31	�	�	PROPN
cjfa-12567	229	32	�	�	PROPN
cjfa-12567	229	33	�	�	PROPN
cjfa-12567	229	34	�	�	PROPN
cjfa-12567	229	35	�	�	PROPN
cjfa-12567	229	36	�	�	PROPN
cjfa-12567	229	37	�	�	PROPN
cjfa-12567	229	38	∑	∑	PROPN
cjfa-12567	229	39	�	�	PROPN
cjfa-12567	229	40	�	�	PROPN
cjfa-12567	229	41	�	�	PROPN
cjfa-12567	229	42	�	�	PROPN
cjfa-12567	229	43	�	�	PROPN
cjfa-12567	229	44	�	�	PROPN
cjfa-12567	229	45	�	�	PROPN
cjfa-12567	229	46	�	�	PROPN
cjfa-12567	229	47	�	�	PROPN
cjfa-12567	229	48	�	�	PROPN
cjfa-12567	229	49	,	,	PUNCT
cjfa-12567	229	50	where	where	SCONJ
cjfa-12567	229	51	w	w	NOUN
cjfa-12567	229	52	*	*	ADJ
cjfa-12567	229	53	efficient	efficient	ADJ
cjfa-12567	229	54	weights	weight	NOUN
cjfa-12567	229	55	.	.	PUNCT
cjfa-12567	230	1	the	the	DET
cjfa-12567	230	2	goal	goal	NOUN
cjfa-12567	230	3	of	of	ADP
cjfa-12567	230	4	this	this	DET
cjfa-12567	230	5	approach	approach	NOUN
cjfa-12567	230	6	is	be	AUX
cjfa-12567	230	7	to	to	PART
cjfa-12567	230	8	generate	generate	VERB
cjfa-12567	230	9	the	the	DET
cjfa-12567	230	10	highest	high	ADJ
cjfa-12567	230	11	return	return	NOUN
cjfa-12567	230	12	from	from	ADP
cjfa-12567	230	13	a	a	DET
cjfa-12567	230	14	unit	unit	NOUN
cjfa-12567	230	15	of	of	ADP
cjfa-12567	230	16	risk	risk	NOUN
cjfa-12567	230	17	and	and	CCONJ
cjfa-12567	230	18	increase	increase	VERB
cjfa-12567	230	19	return	return	NOUN
cjfa-12567	230	20	/	/	SYM
cjfa-12567	230	21	risk	risk	NOUN
cjfa-12567	230	22	efficiency	efficiency	NOUN
cjfa-12567	230	23	.	.	PUNCT
cjfa-12567	231	1	going	go	VERB
cjfa-12567	231	2	further	far	ADV
cjfa-12567	231	3	,	,	PUNCT
cjfa-12567	231	4	it	it	PRON
cjfa-12567	231	5	can	can	AUX
cjfa-12567	231	6	be	be	AUX
cjfa-12567	231	7	hypothesized	hypothesize	VERB
cjfa-12567	231	8	,	,	PUNCT
cjfa-12567	231	9	that	that	PRON
cjfa-12567	231	10	msr	msr	NOUN
cjfa-12567	231	11	portfolios	portfolio	NOUN
cjfa-12567	231	12	will	will	AUX
cjfa-12567	231	13	bring	bring	VERB
cjfa-12567	231	14	a	a	DET
cjfa-12567	231	15	constant	constant	ADJ
cjfa-12567	231	16	return	return	NOUN
cjfa-12567	231	17	with	with	ADP
cjfa-12567	231	18	a	a	DET
cjfa-12567	231	19	stable	stable	ADJ
cjfa-12567	231	20	level	level	NOUN
cjfa-12567	231	21	of	of	ADP
cjfa-12567	231	22	risk	risk	NOUN
cjfa-12567	231	23	.	.	PUNCT
cjfa-12567	232	1	of	of	ADP
cjfa-12567	232	2	course	course	NOUN
cjfa-12567	232	3	,	,	PUNCT
cjfa-12567	232	4	max	max	PROPN
cjfa-12567	232	5	sharpie	sharpie	PROPN
cjfa-12567	232	6	ratio	ratio	PROPN
cjfa-12567	232	7	index	index	NOUN
cjfa-12567	232	8	needs	need	VERB
cjfa-12567	232	9	to	to	PART
cjfa-12567	232	10	be	be	AUX
cjfa-12567	232	11	rebalanced	rebalance	VERB
cjfa-12567	232	12	in	in	ADP
cjfa-12567	232	13	frequent	frequent	ADJ
cjfa-12567	232	14	intervals	interval	NOUN
cjfa-12567	232	15	.	.	PUNCT
cjfa-12567	233	1	the	the	DET
cjfa-12567	233	2	question	question	NOUN
cjfa-12567	233	3	:	:	PUNCT
cjfa-12567	233	4	is	be	AUX
cjfa-12567	233	5	how	how	SCONJ
cjfa-12567	233	6	frequent	frequent	ADJ
cjfa-12567	233	7	?	?	PUNCT
cjfa-12567	234	1	there	there	PRON
cjfa-12567	234	2	are	be	VERB
cjfa-12567	234	3	approaches	approach	NOUN
cjfa-12567	234	4	,	,	PUNCT
cjfa-12567	234	5	which	which	PRON
cjfa-12567	234	6	recommend	recommend	VERB
cjfa-12567	234	7	quarterly	quarterly	ADJ
cjfa-12567	234	8	rebalancing	rebalancing	NOUN
cjfa-12567	234	9	.	.	PUNCT
cjfa-12567	235	1	however	however	ADV
cjfa-12567	235	2	,	,	PUNCT
cjfa-12567	235	3	managing	manage	VERB
cjfa-12567	235	4	transaction	transaction	NOUN
cjfa-12567	235	5	costs	cost	NOUN
cjfa-12567	235	6	,	,	PUNCT
cjfa-12567	235	7	it	it	PRON
cjfa-12567	235	8	is	be	AUX
cjfa-12567	235	9	reasonable	reasonable	ADJ
cjfa-12567	235	10	to	to	ADP
cjfa-12567	235	11	rebalance	rebalance	NOUN
cjfa-12567	235	12	whenever	whenever	SCONJ
cjfa-12567	235	13	it	it	PRON
cjfa-12567	235	14	’s	’s	AUX
cjfa-12567	235	15	needed	need	VERB
cjfa-12567	235	16	,	,	PUNCT
cjfa-12567	235	17	disregarding	disregard	VERB
cjfa-12567	235	18	time	time	NOUN
cjfa-12567	235	19	periods	period	NOUN
cjfa-12567	235	20	.	.	PUNCT
cjfa-12567	236	1	amenc	amenc	PROPN
cjfa-12567	236	2	recommends	recommend	VERB
cjfa-12567	236	3	to	to	PART
cjfa-12567	236	4	rebalance	rebalance	VERB
cjfa-12567	236	5	the	the	DET
cjfa-12567	236	6	weights	weight	NOUN
cjfa-12567	236	7	whenever	whenever	SCONJ
cjfa-12567	236	8	they	they	PRON
cjfa-12567	236	9	will	will	AUX
cjfa-12567	236	10	exceed	exceed	VERB
cjfa-12567	236	11	certain	certain	ADJ
cjfa-12567	236	12	,	,	PUNCT
cjfa-12567	236	13	previously	previously	ADV
cjfa-12567	236	14	set	set	VERB
cjfa-12567	236	15	proportions	proportion	NOUN
cjfa-12567	236	16	.	.	PUNCT
cjfa-12567	237	1	the	the	DET
cjfa-12567	237	2	researches	research	NOUN
cjfa-12567	237	3	proves	prove	VERB
cjfa-12567	237	4	that	that	SCONJ
cjfa-12567	237	5	efficient	efficient	ADJ
cjfa-12567	237	6	indexation	indexation	NOUN
cjfa-12567	237	7	brings	bring	VERB
cjfa-12567	237	8	significantly	significantly	ADV
cjfa-12567	237	9	lower	low	ADJ
cjfa-12567	237	10	tracking	tracking	NOUN
cjfa-12567	237	11	error	error	NOUN
cjfa-12567	237	12	than	than	ADP
cjfa-12567	237	13	cap	cap	NOUN
cjfa-12567	237	14	-	-	PUNCT
cjfa-12567	237	15	weighted	weight	VERB
cjfa-12567	237	16	indices	index	NOUN
cjfa-12567	237	17	(	(	PUNCT
cjfa-12567	237	18	amenc	amenc	PROPN
cjfa-12567	237	19	et	et	PROPN
cjfa-12567	237	20	al	al	PROPN
cjfa-12567	237	21	.	.	PROPN
cjfa-12567	237	22	,	,	PUNCT
cjfa-12567	237	23	2010	2010	NUM
cjfa-12567	237	24	)	)	PUNCT
cjfa-12567	237	25	.	.	PUNCT
cjfa-12567	238	1	on	on	ADP
cjfa-12567	238	2	the	the	DET
cjfa-12567	238	3	other	other	ADJ
cjfa-12567	238	4	hand	hand	NOUN
cjfa-12567	238	5	,	,	PUNCT
cjfa-12567	238	6	msr	msr	NOUN
cjfa-12567	238	7	portfolio	portfolio	NOUN
cjfa-12567	238	8	is	be	AUX
cjfa-12567	238	9	based	base	VERB
cjfa-12567	238	10	on	on	ADP
cjfa-12567	238	11	the	the	DET
cjfa-12567	238	12	assumption	assumption	NOUN
cjfa-12567	238	13	,	,	PUNCT
cjfa-12567	238	14	that	that	SCONJ
cjfa-12567	238	15	the	the	DET
cjfa-12567	238	16	return	return	NOUN
cjfa-12567	238	17	is	be	AUX
cjfa-12567	238	18	proportional	proportional	ADJ
cjfa-12567	238	19	to	to	AUX
cjfa-12567	238	20	risk	risk	VERB
cjfa-12567	238	21	,	,	PUNCT
cjfa-12567	238	22	what	what	PRON
cjfa-12567	238	23	may	may	AUX
cjfa-12567	238	24	cause	cause	VERB
cjfa-12567	238	25	exclusion	exclusion	NOUN
cjfa-12567	238	26	of	of	ADP
cjfa-12567	238	27	low	low	ADJ
cjfa-12567	238	28	–	–	PUNCT
cjfa-12567	238	29	risk	risk	NOUN
cjfa-12567	238	30	stocks	stock	NOUN
cjfa-12567	238	31	.	.	PUNCT
cjfa-12567	239	1	generally	generally	ADV
cjfa-12567	239	2	speaking	speak	VERB
cjfa-12567	239	3	,	,	PUNCT
cjfa-12567	239	4	efficient	efficient	ADJ
cjfa-12567	239	5	indexation	indexation	NOUN
cjfa-12567	239	6	brings	bring	VERB
cjfa-12567	239	7	lower	low	ADJ
cjfa-12567	239	8	volatility	volatility	NOUN
cjfa-12567	239	9	and	and	CCONJ
cjfa-12567	239	10	higher	high	ADJ
cjfa-12567	239	11	returns	return	NOUN
cjfa-12567	239	12	that	that	PRON
cjfa-12567	239	13	cap	cap	NOUN
cjfa-12567	239	14	-	-	PUNCT
cjfa-12567	239	15	weighted	weight	VERB
cjfa-12567	239	16	indices	index	NOUN
cjfa-12567	239	17	.	.	PUNCT
cjfa-12567	240	1	going	go	VERB
cjfa-12567	240	2	back	back	ADV
cjfa-12567	240	3	to	to	ADP
cjfa-12567	240	4	polish	polish	ADJ
cjfa-12567	240	5	market	market	NOUN
cjfa-12567	240	6	,	,	PUNCT
cjfa-12567	240	7	figure	figure	VERB
cjfa-12567	240	8	4	4	NUM
cjfa-12567	240	9	compares	compare	NOUN
cjfa-12567	240	10	capweighted	capweighte	VERB
cjfa-12567	240	11	wig20	wig20	PROPN
cjfa-12567	240	12	to	to	PART
cjfa-12567	240	13	msr	msr	VERB
cjfa-12567	240	14	weighted	weight	VERB
cjfa-12567	240	15	index	index	NOUN
cjfa-12567	240	16	based	base	VERB
cjfa-12567	240	17	on	on	ADP
cjfa-12567	240	18	wig20	wig20	PROPN
cjfa-12567	240	19	components	component	NOUN
cjfa-12567	240	20	.	.	PUNCT
cjfa-12567	241	1	it	it	PRON
cjfa-12567	241	2	was	be	AUX
cjfa-12567	241	3	created	create	VERB
cjfa-12567	241	4	by	by	ADP
cjfa-12567	241	5	maximizing	maximize	VERB
cjfa-12567	241	6	sharpie	sharpie	NOUN
cjfa-12567	241	7	ratio	ratio	NOUN
cjfa-12567	241	8	calculated	calculate	VERB
cjfa-12567	241	9	on	on	ADP
cjfa-12567	241	10	the	the	DET
cjfa-12567	241	11	ground	ground	NOUN
cjfa-12567	241	12	of	of	ADP
cjfa-12567	241	13	monthly	monthly	ADJ
cjfa-12567	241	14	return	return	NOUN
cjfa-12567	241	15	rates	rate	NOUN
cjfa-12567	241	16	of	of	ADP
cjfa-12567	241	17	wig20	wig20	PROPN
cjfa-12567	241	18	companies	company	NOUN
cjfa-12567	241	19	(	(	PUNCT
cjfa-12567	241	20	data	datum	NOUN
cjfa-12567	241	21	range	range	NOUN
cjfa-12567	241	22	:	:	PUNCT
cjfa-12567	241	23	01.2013	01.2013	NUM
cjfa-12567	241	24	-	-	PUNCT
cjfa-12567	241	25	07.2016	07.2016	NUM
cjfa-12567	241	26	)	)	PUNCT
cjfa-12567	241	27	.	.	PUNCT
cjfa-12567	242	1	as	as	SCONJ
cjfa-12567	242	2	the	the	DET
cjfa-12567	242	3	figure	figure	NOUN
cjfa-12567	242	4	shows	show	VERB
cjfa-12567	242	5	,	,	PUNCT
cjfa-12567	242	6	only	only	ADV
cjfa-12567	242	7	four	four	NUM
cjfa-12567	242	8	assets	asset	NOUN
cjfa-12567	242	9	has	have	AUX
cjfa-12567	242	10	been	be	AUX
cjfa-12567	242	11	chosen	choose	VERB
cjfa-12567	242	12	to	to	ADP
cjfa-12567	242	13	the	the	DET
cjfa-12567	242	14	index	index	NOUN
cjfa-12567	242	15	.	.	PUNCT
cjfa-12567	243	1	qualifying	qualify	VERB
cjfa-12567	243	2	any	any	DET
cjfa-12567	243	3	other	other	ADJ
cjfa-12567	243	4	wig20	wig20	PROPN
cjfa-12567	243	5	companies	company	NOUN
cjfa-12567	243	6	would	would	AUX
cjfa-12567	243	7	result	result	VERB
cjfa-12567	243	8	in	in	ADP
cjfa-12567	243	9	lower	low	ADJ
cjfa-12567	243	10	sharpie	sharpie	NOUN
cjfa-12567	243	11	ratio	ratio	NOUN
cjfa-12567	243	12	.	.	PUNCT
cjfa-12567	244	1	to	to	PART
cjfa-12567	244	2	increase	increase	VERB
cjfa-12567	244	3	diversification	diversification	NOUN
cjfa-12567	244	4	,	,	PUNCT
cjfa-12567	244	5	adding	add	VERB
cjfa-12567	244	6	some	some	DET
cjfa-12567	244	7	constrains	constrain	NOUN
cjfa-12567	244	8	,	,	PUNCT
cjfa-12567	244	9	like	like	ADP
cjfa-12567	244	10	minimum	minimum	ADJ
cjfa-12567	244	11	weights	weight	NOUN
cjfa-12567	244	12	,	,	PUNCT
cjfa-12567	244	13	can	can	AUX
cjfa-12567	244	14	be	be	AUX
cjfa-12567	244	15	considered	consider	VERB
cjfa-12567	244	16	,	,	PUNCT
cjfa-12567	244	17	but	but	CCONJ
cjfa-12567	244	18	it	it	PRON
cjfa-12567	244	19	will	will	AUX
cjfa-12567	244	20	not	not	PART
cjfa-12567	244	21	increase	increase	VERB
cjfa-12567	244	22	the	the	DET
cjfa-12567	244	23	efficacy	efficacy	NOUN
cjfa-12567	244	24	.	.	PUNCT
cjfa-12567	245	1	to	to	PART
cjfa-12567	245	2	construct	construct	VERB
cjfa-12567	245	3	effective	effective	ADJ
cjfa-12567	245	4	index	index	NOUN
cjfa-12567	245	5	an	an	DET
cjfa-12567	245	6	investor	investor	NOUN
cjfa-12567	245	7	,	,	PUNCT
cjfa-12567	245	8	where	where	SCONJ
cjfa-12567	245	9	w	w	NOUN
cjfa-12567	245	10	*	*	PUNCT
cjfa-12567	245	11	–	–	PUNCT
cjfa-12567	245	12	efficient	efficient	ADJ
cjfa-12567	245	13	weights	weight	NOUN
cjfa-12567	245	14	.	.	PUNCT
cjfa-12567	246	1	the	the	DET
cjfa-12567	246	2	goal	goal	NOUN
cjfa-12567	246	3	of	of	ADP
cjfa-12567	246	4	this	this	DET
cjfa-12567	246	5	approach	approach	NOUN
cjfa-12567	246	6	is	be	AUX
cjfa-12567	246	7	to	to	PART
cjfa-12567	246	8	generate	generate	VERB
cjfa-12567	246	9	the	the	DET
cjfa-12567	246	10	highest	high	ADJ
cjfa-12567	246	11	return	return	NOUN
cjfa-12567	246	12	from	from	ADP
cjfa-12567	246	13	a	a	DET
cjfa-12567	246	14	unit	unit	NOUN
cjfa-12567	246	15	of	of	ADP
cjfa-12567	246	16	risk	risk	NOUN
cjfa-12567	246	17	and	and	CCONJ
cjfa-12567	246	18	increase	increase	VERB
cjfa-12567	246	19	return	return	NOUN
cjfa-12567	246	20	/	/	SYM
cjfa-12567	246	21	risk	risk	NOUN
cjfa-12567	246	22	efficiency	efficiency	NOUN
cjfa-12567	246	23	.	.	PUNCT
cjfa-12567	247	1	going	go	VERB
cjfa-12567	247	2	further	far	ADV
cjfa-12567	247	3	,	,	PUNCT
cjfa-12567	247	4	it	it	PRON
cjfa-12567	247	5	can	can	AUX
cjfa-12567	247	6	be	be	AUX
cjfa-12567	247	7	hypothesized	hypothesize	VERB
cjfa-12567	247	8	,	,	PUNCT
cjfa-12567	247	9	that	that	PRON
cjfa-12567	247	10	msr	msr	NOUN
cjfa-12567	247	11	portfolios	portfolio	NOUN
cjfa-12567	247	12	will	will	AUX
cjfa-12567	247	13	bring	bring	VERB
cjfa-12567	247	14	a	a	DET
cjfa-12567	247	15	constant	constant	ADJ
cjfa-12567	247	16	return	return	NOUN
cjfa-12567	247	17	with	with	ADP
cjfa-12567	247	18	a	a	DET
cjfa-12567	247	19	stable	stable	ADJ
cjfa-12567	247	20	level	level	NOUN
cjfa-12567	247	21	of	of	ADP
cjfa-12567	247	22	risk	risk	NOUN
cjfa-12567	247	23	.	.	PUNCT
cjfa-12567	248	1	of	of	ADP
cjfa-12567	248	2	course	course	NOUN
cjfa-12567	248	3	,	,	PUNCT
cjfa-12567	248	4	max	max	PROPN
cjfa-12567	248	5	sharpie	sharpie	PROPN
cjfa-12567	248	6	ratio	ratio	PROPN
cjfa-12567	248	7	index	index	NOUN
cjfa-12567	248	8	needs	need	VERB
cjfa-12567	248	9	to	to	PART
cjfa-12567	248	10	be	be	AUX
cjfa-12567	248	11	rebalanced	rebalance	VERB
cjfa-12567	248	12	in	in	ADP
cjfa-12567	248	13	frequent	frequent	ADJ
cjfa-12567	248	14	intervals	interval	NOUN
cjfa-12567	248	15	.	.	PUNCT
cjfa-12567	249	1	the	the	DET
cjfa-12567	249	2	question	question	NOUN
cjfa-12567	249	3	:	:	PUNCT
cjfa-12567	249	4	is	be	AUX
cjfa-12567	249	5	how	how	SCONJ
cjfa-12567	249	6	frequent	frequent	ADJ
cjfa-12567	249	7	?	?	PUNCT
cjfa-12567	250	1	there	there	PRON
cjfa-12567	250	2	are	be	VERB
cjfa-12567	250	3	approaches	approach	NOUN
cjfa-12567	250	4	,	,	PUNCT
cjfa-12567	250	5	which	which	PRON
cjfa-12567	250	6	recommend	recommend	VERB
cjfa-12567	250	7	quarterly	quarterly	ADJ
cjfa-12567	250	8	rebalancing	rebalancing	NOUN
cjfa-12567	250	9	.	.	PUNCT
cjfa-12567	251	1	however	however	ADV
cjfa-12567	251	2	,	,	PUNCT
cjfa-12567	251	3	managing	manage	VERB
cjfa-12567	251	4	transaction	transaction	NOUN
cjfa-12567	251	5	costs	cost	NOUN
cjfa-12567	251	6	,	,	PUNCT
cjfa-12567	251	7	it	it	PRON
cjfa-12567	251	8	is	be	AUX
cjfa-12567	251	9	reasonable	reasonable	ADJ
cjfa-12567	251	10	to	to	ADP
cjfa-12567	251	11	rebalance	rebalance	NOUN
cjfa-12567	251	12	whenever	whenever	SCONJ
cjfa-12567	251	13	it	it	PRON
cjfa-12567	251	14	’s	’s	AUX
cjfa-12567	251	15	needed	need	VERB
cjfa-12567	251	16	,	,	PUNCT
cjfa-12567	251	17	disregarding	disregard	VERB
cjfa-12567	251	18	time	time	NOUN
cjfa-12567	251	19	periods	period	NOUN
cjfa-12567	251	20	.	.	PUNCT
cjfa-12567	252	1	amenc	amenc	PROPN
cjfa-12567	252	2	recommends	recommend	VERB
cjfa-12567	252	3	to	to	PART
cjfa-12567	252	4	rebalance	rebalance	VERB
cjfa-12567	252	5	the	the	DET
cjfa-12567	252	6	weights	weight	NOUN
cjfa-12567	252	7	whenever	whenever	SCONJ
cjfa-12567	252	8	they	they	PRON
cjfa-12567	252	9	will	will	AUX
cjfa-12567	252	10	exceed	exceed	VERB
cjfa-12567	252	11	certain	certain	ADJ
cjfa-12567	252	12	,	,	PUNCT
cjfa-12567	252	13	previously	previously	ADV
cjfa-12567	252	14	set	set	VERB
cjfa-12567	252	15	proportions	proportion	NOUN
cjfa-12567	252	16	.	.	PUNCT
cjfa-12567	253	1	the	the	DET
cjfa-12567	253	2	researches	research	NOUN
cjfa-12567	253	3	proves	prove	VERB
cjfa-12567	253	4	that	that	SCONJ
cjfa-12567	253	5	efficient	efficient	ADJ
cjfa-12567	253	6	indexation	indexation	NOUN
cjfa-12567	253	7	brings	bring	VERB
cjfa-12567	253	8	significantly	significantly	ADV
cjfa-12567	253	9	lower	low	ADJ
cjfa-12567	253	10	tracking	tracking	NOUN
cjfa-12567	253	11	error	error	NOUN
cjfa-12567	253	12	than	than	ADP
cjfa-12567	253	13	cap	cap	NOUN
cjfa-12567	253	14	-	-	PUNCT
cjfa-12567	253	15	weighted	weight	VERB
cjfa-12567	253	16	indices	index	NOUN
cjfa-12567	253	17	(	(	PUNCT
cjfa-12567	253	18	amenc	amenc	PROPN
cjfa-12567	253	19	et	et	PROPN
cjfa-12567	253	20	al	al	PROPN
cjfa-12567	253	21	.	.	PROPN
cjfa-12567	253	22	,	,	PUNCT
cjfa-12567	253	23	2010	2010	NUM
cjfa-12567	253	24	)	)	PUNCT
cjfa-12567	253	25	.	.	PUNCT
cjfa-12567	254	1	on	on	ADP
cjfa-12567	254	2	the	the	DET
cjfa-12567	254	3	other	other	ADJ
cjfa-12567	254	4	hand	hand	NOUN
cjfa-12567	254	5	,	,	PUNCT
cjfa-12567	254	6	msr	msr	NOUN
cjfa-12567	254	7	portfolio	portfolio	NOUN
cjfa-12567	254	8	is	be	AUX
cjfa-12567	254	9	based	base	VERB
cjfa-12567	254	10	on	on	ADP
cjfa-12567	254	11	the	the	DET
cjfa-12567	254	12	assumption	assumption	NOUN
cjfa-12567	254	13	,	,	PUNCT
cjfa-12567	254	14	that	that	SCONJ
cjfa-12567	254	15	the	the	DET
cjfa-12567	254	16	return	return	NOUN
cjfa-12567	254	17	is	be	AUX
cjfa-12567	254	18	proportional	proportional	ADJ
cjfa-12567	254	19	to	to	AUX
cjfa-12567	254	20	risk	risk	VERB
cjfa-12567	254	21	,	,	PUNCT
cjfa-12567	254	22	what	what	PRON
cjfa-12567	254	23	may	may	AUX
cjfa-12567	254	24	cause	cause	VERB
cjfa-12567	254	25	exclusion	exclusion	NOUN
cjfa-12567	254	26	of	of	ADP
cjfa-12567	254	27	low	low	ADJ
cjfa-12567	254	28	–	–	PUNCT
cjfa-12567	254	29	risk	risk	NOUN
cjfa-12567	254	30	stocks	stock	NOUN
cjfa-12567	254	31	.	.	PUNCT
cjfa-12567	255	1	generally	generally	ADV
cjfa-12567	255	2	speaking	speak	VERB
cjfa-12567	255	3	,	,	PUNCT
cjfa-12567	255	4	efficient	efficient	ADJ
cjfa-12567	255	5	indexation	indexation	NOUN
cjfa-12567	255	6	brings	bring	VERB
cjfa-12567	255	7	lower	low	ADJ
cjfa-12567	255	8	volatility	volatility	NOUN
cjfa-12567	255	9	and	and	CCONJ
cjfa-12567	255	10	higher	high	ADJ
cjfa-12567	255	11	returns	return	NOUN
cjfa-12567	255	12	that	that	PRON
cjfa-12567	255	13	cap	cap	NOUN
cjfa-12567	255	14	-	-	PUNCT
cjfa-12567	255	15	weighted	weight	VERB
cjfa-12567	255	16	indices	index	NOUN
cjfa-12567	255	17	.	.	PUNCT
cjfa-12567	256	1	going	go	VERB
cjfa-12567	256	2	back	back	ADV
cjfa-12567	256	3	to	to	ADP
cjfa-12567	256	4	polish	polish	ADJ
cjfa-12567	256	5	market	market	NOUN
cjfa-12567	256	6	,	,	PUNCT
cjfa-12567	256	7	figure	figure	VERB
cjfa-12567	256	8	4	4	NUM
cjfa-12567	256	9	compares	compare	VERB
cjfa-12567	256	10	cap	cap	NOUN
cjfa-12567	256	11	-	-	PUNCT
cjfa-12567	256	12	weighted	weight	VERB
cjfa-12567	256	13	wig20	wig20	PROPN
cjfa-12567	256	14	to	to	PART
cjfa-12567	256	15	msr	msr	VERB
cjfa-12567	256	16	weighted	weight	VERB
cjfa-12567	256	17	index	index	NOUN
cjfa-12567	256	18	based	base	VERB
cjfa-12567	256	19	on	on	ADP
cjfa-12567	256	20	wig20	wig20	PROPN
cjfa-12567	256	21	components	component	NOUN
cjfa-12567	256	22	.	.	PUNCT
cjfa-12567	257	1	it	it	PRON
cjfa-12567	257	2	was	be	AUX
cjfa-12567	257	3	created	create	VERB
cjfa-12567	257	4	by	by	ADP
cjfa-12567	257	5	maximizing	maximize	VERB
cjfa-12567	257	6	sharpie	sharpie	NOUN
cjfa-12567	257	7	ratio	ratio	NOUN
cjfa-12567	257	8	calculated	calculate	VERB
cjfa-12567	257	9	on	on	ADP
cjfa-12567	257	10	the	the	DET
cjfa-12567	257	11	ground	ground	NOUN
cjfa-12567	257	12	of	of	ADP
cjfa-12567	257	13	monthly	monthly	ADJ
cjfa-12567	257	14	return	return	NOUN
cjfa-12567	257	15	rates	rate	NOUN
cjfa-12567	257	16	of	of	ADP
cjfa-12567	257	17	wig20	wig20	PROPN
cjfa-12567	257	18	companies	company	NOUN
cjfa-12567	257	19	(	(	PUNCT
cjfa-12567	257	20	data	datum	NOUN
cjfa-12567	257	21	range	range	NOUN
cjfa-12567	257	22	:	:	PUNCT
cjfa-12567	257	23	01.2013–07.2016	01.2013–07.2016	PROPN
cjfa-12567	257	24	)	)	PUNCT
cjfa-12567	257	25	.	.	PUNCT
cjfa-12567	258	1	as	as	SCONJ
cjfa-12567	258	2	the	the	DET
cjfa-12567	258	3	figure	figure	NOUN
cjfa-12567	258	4	shows	show	VERB
cjfa-12567	258	5	,	,	PUNCT
cjfa-12567	258	6	only	only	ADV
cjfa-12567	258	7	four	four	NUM
cjfa-12567	258	8	assets	asset	NOUN
cjfa-12567	258	9	has	have	AUX
cjfa-12567	258	10	been	be	AUX
cjfa-12567	258	11	chosen	choose	VERB
cjfa-12567	258	12	to	to	ADP
cjfa-12567	258	13	the	the	DET
cjfa-12567	258	14	index	index	NOUN
cjfa-12567	258	15	.	.	PUNCT
cjfa-12567	259	1	qualifying	qualify	VERB
cjfa-12567	259	2	any	any	DET
cjfa-12567	259	3	other	other	ADJ
cjfa-12567	259	4	wig20	wig20	PROPN
cjfa-12567	259	5	companies	company	NOUN
cjfa-12567	259	6	would	would	AUX
cjfa-12567	259	7	result	result	VERB
cjfa-12567	259	8	in	in	ADP
cjfa-12567	259	9	lower	low	ADJ
cjfa-12567	259	10	sharpie	sharpie	NOUN
cjfa-12567	259	11	ratio	ratio	NOUN
cjfa-12567	259	12	.	.	PUNCT
cjfa-12567	260	1	to	to	PART
cjfa-12567	260	2	increase	increase	VERB
cjfa-12567	260	3	diversification	diversification	NOUN
cjfa-12567	260	4	,	,	PUNCT
cjfa-12567	260	5	adding	add	VERB
cjfa-12567	260	6	some	some	DET
cjfa-12567	260	7	constrains	constrain	NOUN
cjfa-12567	260	8	,	,	PUNCT
cjfa-12567	260	9	like	like	ADP
cjfa-12567	260	10	minimum	minimum	ADJ
cjfa-12567	260	11	weights	weight	NOUN
cjfa-12567	260	12	,	,	PUNCT
cjfa-12567	260	13	can	can	AUX
cjfa-12567	260	14	be	be	AUX
cjfa-12567	260	15	considered	consider	VERB
cjfa-12567	260	16	,	,	PUNCT
cjfa-12567	260	17	but	but	CCONJ
cjfa-12567	260	18	it	it	PRON
cjfa-12567	260	19	will	will	AUX
cjfa-12567	260	20	not	not	PART
cjfa-12567	260	21	increase	increase	VERB
cjfa-12567	260	22	the	the	DET
cjfa-12567	260	23	efficacy	efficacy	NOUN
cjfa-12567	260	24	.	.	PUNCT
cjfa-12567	261	1	to	to	PART
cjfa-12567	261	2	construct	construct	VERB
cjfa-12567	261	3	effective	effective	ADJ
cjfa-12567	261	4	index	index	NOUN
cjfa-12567	261	5	an	an	DET
cjfa-12567	261	6	investor	investor	NOUN
cjfa-12567	261	7	should	should	AUX
cjfa-12567	261	8	reach	reach	VERB
cjfa-12567	261	9	beyond	beyond	ADP
cjfa-12567	261	10	wig20	wig20	PROPN
cjfa-12567	261	11	and	and	CCONJ
cjfa-12567	261	12	add	add	VERB
cjfa-12567	261	13	companies	company	NOUN
cjfa-12567	261	14	from	from	ADP
cjfa-12567	261	15	outside	outside	ADP
cjfa-12567	261	16	of	of	ADP
cjfa-12567	261	17	the	the	DET
cjfa-12567	261	18	largest	large	ADJ
cjfa-12567	261	19	twenty	twenty	NUM
cjfa-12567	261	20	.	.	PUNCT
cjfa-12567	262	1	of	of	ADP
cjfa-12567	262	2	course	course	NOUN
cjfa-12567	262	3	,	,	PUNCT
cjfa-12567	262	4	index	index	NOUN
cjfa-12567	262	5	consisting	consist	VERB
cjfa-12567	262	6	of	of	ADP
cjfa-12567	262	7	only	only	ADV
cjfa-12567	262	8	four	four	NUM
cjfa-12567	262	9	stocks	stock	NOUN
cjfa-12567	262	10	is	be	AUX
cjfa-12567	262	11	not	not	PART
cjfa-12567	262	12	representative	representative	ADJ
cjfa-12567	262	13	and	and	CCONJ
cjfa-12567	262	14	diversified	diversify	VERB
cjfa-12567	262	15	enough	enough	ADV
cjfa-12567	262	16	.	.	PUNCT
cjfa-12567	263	1	however	however	ADV
cjfa-12567	263	2	,	,	PUNCT
cjfa-12567	263	3	it	it	PRON
cjfa-12567	263	4	may	may	AUX
cjfa-12567	263	5	be	be	AUX
cjfa-12567	263	6	a	a	DET
cjfa-12567	263	7	good	good	ADJ
cjfa-12567	263	8	example	example	NOUN
cjfa-12567	263	9	,	,	PUNCT
cjfa-12567	263	10	how	how	SCONJ
cjfa-12567	263	11	far	far	ADV
cjfa-12567	263	12	from	from	ADP
cjfa-12567	263	13	being	be	AUX
cjfa-12567	263	14	effective	effective	ADJ
cjfa-12567	263	15	cap	cap	NOUN
cjfa-12567	263	16	-	-	PUNCT
cjfa-12567	263	17	weighted	weight	VERB
cjfa-12567	263	18	wig20	wig20	PROPN
cjfa-12567	263	19	is	be	AUX
cjfa-12567	263	20	.	.	PUNCT
cjfa-12567	264	1	sharpie	sharpie	NOUN
cjfa-12567	264	2	ratio	ratio	NOUN
cjfa-12567	264	3	for	for	ADP
cjfa-12567	264	4	created	create	VERB
cjfa-12567	264	5	portfolio	portfolio	NOUN
cjfa-12567	264	6	equals	equal	VERB
cjfa-12567	264	7	0.35	0.35	NUM
cjfa-12567	264	8	comparing	compare	VERB
cjfa-12567	264	9	to	to	ADP
cjfa-12567	264	10	–	–	PUNCT
cjfa-12567	264	11	0.06	0.06	NUM
cjfa-12567	264	12	for	for	ADP
cjfa-12567	264	13	cap	cap	NOUN
cjfa-12567	264	14	-	-	PUNCT
cjfa-12567	264	15	weighted	weight	VERB
cjfa-12567	264	16	.	.	PUNCT
cjfa-12567	265	1	equating	equate	VERB
cjfa-12567	265	2	annual	annual	ADJ
cjfa-12567	265	3	return	return	NOUN
cjfa-12567	265	4	rates	rate	NOUN
cjfa-12567	265	5	in	in	ADP
cjfa-12567	265	6	table	table	NOUN
cjfa-12567	265	7	2	2	NUM
cjfa-12567	265	8	it	it	PRON
cjfa-12567	265	9	is	be	AUX
cjfa-12567	265	10	easy	easy	ADJ
cjfa-12567	265	11	to	to	PART
cjfa-12567	265	12	see	see	VERB
cjfa-12567	265	13	,	,	PUNCT
cjfa-12567	265	14	how	how	SCONJ
cjfa-12567	265	15	msr	msr	NOUN
cjfa-12567	265	16	weighting	weight	VERB
cjfa-12567	265	17	kamil	kamil	PROPN
cjfa-12567	265	18	nowak174	nowak174	PROPN
cjfa-12567	265	19	improved	improve	VERB
cjfa-12567	265	20	the	the	DET
cjfa-12567	265	21	return	return	NOUN
cjfa-12567	265	22	rate	rate	NOUN
cjfa-12567	265	23	.	.	PUNCT
cjfa-12567	266	1	considering	consider	VERB
cjfa-12567	266	2	above	above	ADP
cjfa-12567	266	3	mentioned	mention	VERB
cjfa-12567	266	4	arguments	argument	NOUN
cjfa-12567	266	5	and	and	CCONJ
cjfa-12567	266	6	calculations	calculation	NOUN
cjfa-12567	266	7	it	it	PRON
cjfa-12567	266	8	is	be	AUX
cjfa-12567	266	9	obvious	obvious	ADJ
cjfa-12567	266	10	that	that	SCONJ
cjfa-12567	266	11	in	in	ADP
cjfa-12567	266	12	wig20	wig20	PROPN
cjfa-12567	266	13	case	case	NOUN
cjfa-12567	266	14	reaching	reach	VERB
cjfa-12567	266	15	out	out	ADP
cjfa-12567	266	16	for	for	ADP
cjfa-12567	266	17	alternative	alternative	ADJ
cjfa-12567	266	18	weighting	weighting	NOUN
cjfa-12567	266	19	scheme	scheme	NOUN
cjfa-12567	266	20	was	be	AUX
cjfa-12567	266	21	definitely	definitely	ADV
cjfa-12567	266	22	beneficiary	beneficiary	ADJ
cjfa-12567	266	23	.	.	PUNCT
cjfa-12567	267	1	figure	figure	VERB
cjfa-12567	267	2	4	4	NUM
cjfa-12567	267	3	.	.	PUNCT
cjfa-12567	268	1	wig20	wig20	PROPN
cjfa-12567	268	2	.	.	PUNCT
cjfa-12567	269	1	cap	cap	PROPN
cjfa-12567	269	2	vs.	vs.	ADP
cjfa-12567	269	3	msr	msr	NOUN
cjfa-12567	269	4	weighting	weighting	NOUN
cjfa-12567	269	5	should	should	AUX
cjfa-12567	269	6	reach	reach	VERB
cjfa-12567	269	7	beyond	beyond	ADP
cjfa-12567	269	8	wig20	wig20	PROPN
cjfa-12567	269	9	and	and	CCONJ
cjfa-12567	269	10	add	add	VERB
cjfa-12567	269	11	companies	company	NOUN
cjfa-12567	269	12	from	from	ADP
cjfa-12567	269	13	outside	outside	ADP
cjfa-12567	269	14	of	of	ADP
cjfa-12567	269	15	the	the	DET
cjfa-12567	269	16	largest	large	ADJ
cjfa-12567	269	17	twenty	twenty	NUM
cjfa-12567	269	18	.	.	PUNCT
cjfa-12567	270	1	of	of	ADP
cjfa-12567	270	2	course	course	NOUN
cjfa-12567	270	3	,	,	PUNCT
cjfa-12567	270	4	index	index	NOUN
cjfa-12567	270	5	consisting	consist	VERB
cjfa-12567	270	6	of	of	ADP
cjfa-12567	270	7	only	only	ADV
cjfa-12567	270	8	four	four	NUM
cjfa-12567	270	9	stocks	stock	NOUN
cjfa-12567	270	10	is	be	AUX
cjfa-12567	270	11	not	not	PART
cjfa-12567	270	12	representative	representative	ADJ
cjfa-12567	270	13	and	and	CCONJ
cjfa-12567	270	14	diversified	diversify	VERB
cjfa-12567	270	15	enough	enough	ADV
cjfa-12567	270	16	.	.	PUNCT
cjfa-12567	271	1	however	however	ADV
cjfa-12567	271	2	,	,	PUNCT
cjfa-12567	271	3	it	it	PRON
cjfa-12567	271	4	may	may	AUX
cjfa-12567	271	5	be	be	AUX
cjfa-12567	271	6	a	a	DET
cjfa-12567	271	7	good	good	ADJ
cjfa-12567	271	8	example	example	NOUN
cjfa-12567	271	9	,	,	PUNCT
cjfa-12567	271	10	how	how	SCONJ
cjfa-12567	271	11	far	far	ADV
cjfa-12567	271	12	from	from	ADP
cjfa-12567	271	13	being	be	AUX
cjfa-12567	271	14	effective	effective	ADJ
cjfa-12567	271	15	cap	cap	NOUN
cjfa-12567	271	16	-	-	PUNCT
cjfa-12567	271	17	weighted	weight	VERB
cjfa-12567	271	18	wig20	wig20	PROPN
cjfa-12567	271	19	is	be	AUX
cjfa-12567	271	20	.	.	PUNCT
cjfa-12567	272	1	sharpie	sharpie	NOUN
cjfa-12567	272	2	ratio	ratio	NOUN
cjfa-12567	272	3	for	for	ADP
cjfa-12567	272	4	created	create	VERB
cjfa-12567	272	5	portfolio	portfolio	NOUN
cjfa-12567	272	6	equals	equal	VERB
cjfa-12567	272	7	0.35	0.35	NUM
cjfa-12567	272	8	comparing	compare	VERB
cjfa-12567	272	9	to	to	ADP
cjfa-12567	272	10	–	–	PUNCT
cjfa-12567	272	11	0.06	0.06	NUM
cjfa-12567	272	12	for	for	ADP
cjfa-12567	272	13	cap	cap	NOUN
cjfa-12567	272	14	-	-	PUNCT
cjfa-12567	272	15	weighted	weight	VERB
cjfa-12567	272	16	.	.	PUNCT
cjfa-12567	273	1	equating	equate	VERB
cjfa-12567	273	2	annual	annual	ADJ
cjfa-12567	273	3	return	return	NOUN
cjfa-12567	273	4	rates	rate	NOUN
cjfa-12567	273	5	in	in	ADP
cjfa-12567	273	6	table	table	NOUN
cjfa-12567	273	7	3	3	NUM
cjfa-12567	273	8	it	it	PRON
cjfa-12567	273	9	is	be	AUX
cjfa-12567	273	10	easy	easy	ADJ
cjfa-12567	273	11	to	to	PART
cjfa-12567	273	12	see	see	VERB
cjfa-12567	273	13	,	,	PUNCT
cjfa-12567	273	14	how	how	SCONJ
cjfa-12567	273	15	msr	msr	NOUN
cjfa-12567	273	16	weighting	weight	VERB
cjfa-12567	273	17	improved	improve	VERB
cjfa-12567	273	18	the	the	DET
cjfa-12567	273	19	return	return	NOUN
cjfa-12567	273	20	rate	rate	NOUN
cjfa-12567	273	21	.	.	PUNCT
cjfa-12567	274	1	considering	consider	VERB
cjfa-12567	274	2	above	above	ADP
cjfa-12567	274	3	mentioned	mention	VERB
cjfa-12567	274	4	arguments	argument	NOUN
cjfa-12567	274	5	and	and	CCONJ
cjfa-12567	274	6	calculations	calculation	NOUN
cjfa-12567	274	7	it	it	PRON
cjfa-12567	274	8	is	be	AUX
cjfa-12567	274	9	obvious	obvious	ADJ
cjfa-12567	274	10	that	that	SCONJ
cjfa-12567	274	11	in	in	ADP
cjfa-12567	274	12	wig20	wig20	PROPN
cjfa-12567	274	13	case	case	NOUN
cjfa-12567	274	14	reaching	reach	VERB
cjfa-12567	274	15	out	out	ADP
cjfa-12567	274	16	for	for	ADP
cjfa-12567	274	17	alternative	alternative	ADJ
cjfa-12567	274	18	weighting	weighting	NOUN
cjfa-12567	274	19	scheme	scheme	NOUN
cjfa-12567	274	20	was	be	AUX
cjfa-12567	274	21	definitely	definitely	ADV
cjfa-12567	274	22	beneficiary	beneficiary	ADJ
cjfa-12567	274	23	.	.	PUNCT
cjfa-12567	275	1	figure	figure	VERB
cjfa-12567	275	2	3	3	NUM
cjfa-12567	275	3	.	.	PUNCT
cjfa-12567	276	1	wig20	wig20	PROPN
cjfa-12567	276	2	.	.	PUNCT
cjfa-12567	277	1	cap	cap	PROPN
cjfa-12567	277	2	vs.	vs.	ADP
cjfa-12567	277	3	msr	msr	NOUN
cjfa-12567	277	4	weighting	weight	VERB
cjfa-12567	277	5	source	source	NOUN
cjfa-12567	277	6	:	:	PUNCT
cjfa-12567	277	7	author	author	NOUN
cjfa-12567	277	8	’s	’s	PART
cjfa-12567	277	9	elaboration	elaboration	NOUN
cjfa-12567	277	10	.	.	PUNCT
cjfa-12567	278	1	table	table	NOUN
cjfa-12567	278	2	2	2	NUM
cjfa-12567	278	3	.	.	PUNCT
cjfa-12567	278	4	annual	annual	ADJ
cjfa-12567	278	5	return	return	NOUN
cjfa-12567	278	6	rate	rate	NOUN
cjfa-12567	278	7	:	:	PUNCT
cjfa-12567	278	8	cap	cap	NOUN
cjfa-12567	278	9	vs.	vs.	X
cjfa-12567	278	10	msr	msr	PROPN
cjfa-12567	278	11	portfolio	portfolio	PROPN
cjfa-12567	278	12	annual	annual	ADJ
cjfa-12567	278	13	return	return	NOUN
cjfa-12567	278	14	annual	annual	ADJ
cjfa-12567	278	15	return	return	NOUN
cjfa-12567	278	16	difference	difference	NOUN
cjfa-12567	278	17	over	over	ADP
cjfa-12567	278	18	cap	cap	NOUN
cjfa-12567	278	19	-	-	PUNCT
cjfa-12567	278	20	weighting	weight	VERB
cjfa-12567	278	21	cap	cap	NOUN
cjfa-12567	278	22	-	-	PUNCT
cjfa-12567	278	23	weighted	weight	VERB
cjfa-12567	278	24	wig20	wig20	PROPN
cjfa-12567	278	25	-16,88	-16,88	INTJ
cjfa-12567	278	26	%	%	NOUN
cjfa-12567	278	27	msr	msr	NOUN
cjfa-12567	278	28	-	-	PUNCT
cjfa-12567	278	29	weighted	weight	VERB
cjfa-12567	278	30	wig20	wig20	PROPN
cjfa-12567	278	31	+3,15	+3,15	PROPN
cjfa-12567	278	32	%	%	NOUN
cjfa-12567	278	33	13.73	13.73	NUM
cjfa-12567	278	34	%	%	NOUN
cjfa-12567	278	35	3,12	3,12	NUM
cjfa-12567	278	36	%	%	NOUN
cjfa-12567	278	37	2,04	2,04	NUM
cjfa-12567	278	38	%	%	NOUN
cjfa-12567	278	39	2,77	2,77	NUM
cjfa-12567	278	40	%	%	NOUN
cjfa-12567	278	41	2,48	2,48	NUM
cjfa-12567	278	42	%	%	NOUN
cjfa-12567	278	43	1,46	1,46	NUM
cjfa-12567	278	44	%	%	NOUN
cjfa-12567	278	45	5,70	5,70	NUM
cjfa-12567	278	46	%	%	NOUN
cjfa-12567	279	1	9,93	9,93	NUM
cjfa-12567	279	2	%	%	NOUN
cjfa-12567	279	3	1,50	1,50	NUM
cjfa-12567	279	4	%	%	NOUN
cjfa-12567	279	5	1,67%6,58	1,67%6,58	NUM
cjfa-12567	279	6	%	%	NOUN
cjfa-12567	279	7	5,80	5,80	NUM
cjfa-12567	279	8	%	%	NOUN
cjfa-12567	279	9	6,15	6,15	NUM
cjfa-12567	279	10	%	%	NOUN
cjfa-12567	279	11	12,02	12,02	NOUN
cjfa-12567	279	12	%	%	NOUN
cjfa-12567	279	13	12,19	12,19	NUM
cjfa-12567	279	14	%	%	NOUN
cjfa-12567	279	15	14,37	14,37	NUM
cjfa-12567	279	16	%	%	NOUN
cjfa-12567	279	17	2,50	2,50	NUM
cjfa-12567	279	18	%	%	NOUN
cjfa-12567	279	19	1,19	1,19	NUM
cjfa-12567	279	20	%	%	NOUN
cjfa-12567	279	21	1,99	1,99	NUM
cjfa-12567	279	22	%	%	NOUN
cjfa-12567	279	23	2,89	2,89	NUM
cjfa-12567	279	24	%	%	NOUN
cjfa-12567	279	25	3,68	3,68	NUM
cjfa-12567	279	26	%	%	NOUN
cjfa-12567	279	27	cps	cps	PROPN
cjfa-12567	279	28	opl	opl	PROPN
cjfa-12567	279	29	mbk	mbk	PROPN
cjfa-12567	279	30	acp	acp	PROPN
cjfa-12567	279	31	ena	ena	PROPN
cjfa-12567	279	32	bzw	bzw	PROPN
cjfa-12567	279	33	pzu	pzu	PROPN
cjfa-12567	279	34	lts	lts	PROPN
cjfa-12567	279	35	alr	alr	PROPN
cjfa-12567	279	36	kgh	kgh	PROPN
cjfa-12567	279	37	pgn	pgn	PROPN
cjfa-12567	279	38	pge	pge	NOUN
cjfa-12567	279	39	peo	peo	PROPN
cjfa-12567	279	40	pkn	pkn	PROPN
cjfa-12567	279	41	pko	pko	PROPN
cjfa-12567	279	42	eur	eur	PROPN
cjfa-12567	279	43	eng	eng	PROPN
cjfa-12567	279	44	tpe	tpe	PROPN
cjfa-12567	279	45	ccc	ccc	PROPN
cjfa-12567	279	46	lpp	lpp	PROPN
cjfa-12567	279	47	41,36	41,36	VERB
cjfa-12567	279	48	%	%	NOUN
cjfa-12567	280	1	28,53	28,53	NUM
cjfa-12567	280	2	%	%	NOUN
cjfa-12567	280	3	14,40	14,40	NUM
cjfa-12567	280	4	%	%	NOUN
cjfa-12567	280	5	15,71	15,71	NUM
cjfa-12567	280	6	%	%	NOUN
cjfa-12567	280	7	ccc	ccc	PROPN
cjfa-12567	280	8	cps	cps	PROPN
cjfa-12567	280	9	eur	eur	PROPN
cjfa-12567	280	10	pkn	pkn	PROPN
cjfa-12567	280	11	s	s	PART
cjfa-12567	280	12	o	o	NOUN
cjfa-12567	280	13	u	u	NOUN
cjfa-12567	280	14	r	r	NOUN
cjfa-12567	280	15	c	c	NOUN
cjfa-12567	280	16	e	e	NOUN
cjfa-12567	280	17	:	:	PUNCT
cjfa-12567	280	18	author	author	NOUN
cjfa-12567	280	19	’s	’s	PART
cjfa-12567	280	20	elaboration	elaboration	NOUN
cjfa-12567	280	21	.	.	PUNCT
cjfa-12567	281	1	implementation	implementation	NOUN
cjfa-12567	281	2	of	of	ADP
cjfa-12567	281	3	alternative	alternative	ADJ
cjfa-12567	281	4	index	index	NOUN
cjfa-12567	281	5	weighting	weighting	NOUN
cjfa-12567	281	6	…	…	PUNCT
cjfa-12567	281	7	175	175	NUM
cjfa-12567	281	8	table	table	NOUN
cjfa-12567	281	9	2	2	NUM
cjfa-12567	281	10	.	.	PUNCT
cjfa-12567	281	11	annual	annual	ADJ
cjfa-12567	281	12	return	return	NOUN
cjfa-12567	281	13	rate	rate	NOUN
cjfa-12567	281	14	:	:	PUNCT
cjfa-12567	281	15	cap	cap	NOUN
cjfa-12567	281	16	vs.	vs.	X
cjfa-12567	281	17	msr	msr	PROPN
cjfa-12567	281	18	portfolio	portfolio	PROPN
cjfa-12567	281	19	annual	annual	ADJ
cjfa-12567	281	20	return	return	NOUN
cjfa-12567	281	21	annual	annual	ADJ
cjfa-12567	281	22	return	return	NOUN
cjfa-12567	281	23	difference	difference	NOUN
cjfa-12567	281	24	over	over	ADP
cjfa-12567	281	25	cap	cap	NOUN
cjfa-12567	281	26	-	-	PUNCT
cjfa-12567	281	27	weighting	weight	VERB
cjfa-12567	281	28	cap	cap	NOUN
cjfa-12567	281	29	-	-	PUNCT
cjfa-12567	281	30	weighted	weight	VERB
cjfa-12567	281	31	wig20	wig20	PROPN
cjfa-12567	281	32	-16,88	-16,88	NUM
cjfa-12567	281	33	%	%	NOUN
cjfa-12567	281	34	–	–	PUNCT
cjfa-12567	281	35	msr	msr	NOUN
cjfa-12567	281	36	-	-	PUNCT
cjfa-12567	281	37	weighted	weight	VERB
cjfa-12567	281	38	wig20	wig20	PROPN
cjfa-12567	281	39	+3,15	+3,15	PROPN
cjfa-12567	281	40	%	%	NOUN
cjfa-12567	281	41	13,73	13,73	NUM
cjfa-12567	281	42	%	%	NOUN
cjfa-12567	281	43	s	s	PART
cjfa-12567	281	44	o	o	NOUN
cjfa-12567	281	45	u	u	NOUN
cjfa-12567	281	46	r	r	NOUN
cjfa-12567	281	47	c	c	NOUN
cjfa-12567	281	48	e	e	NOUN
cjfa-12567	281	49	:	:	PUNCT
cjfa-12567	281	50	author	author	NOUN
cjfa-12567	281	51	’s	’s	PART
cjfa-12567	281	52	elaboration	elaboration	NOUN
cjfa-12567	281	53	.	.	PUNCT
cjfa-12567	282	1	global	global	ADJ
cjfa-12567	282	2	minimum	minimum	ADJ
cjfa-12567	282	3	variance	variance	NOUN
cjfa-12567	282	4	this	this	DET
cjfa-12567	282	5	approach	approach	NOUN
cjfa-12567	282	6	has	have	AUX
cjfa-12567	282	7	been	be	AUX
cjfa-12567	282	8	introduced	introduce	VERB
cjfa-12567	282	9	in	in	ADP
cjfa-12567	282	10	the	the	DET
cjfa-12567	282	11	early	early	ADJ
cjfa-12567	282	12	1990s	1990	NOUN
cjfa-12567	282	13	.	.	PUNCT
cjfa-12567	283	1	global	global	ADJ
cjfa-12567	283	2	minimum	minimum	ADJ
cjfa-12567	283	3	variance	variance	NOUN
cjfa-12567	283	4	is	be	AUX
cjfa-12567	283	5	designed	design	VERB
cjfa-12567	283	6	to	to	PART
cjfa-12567	283	7	reduce	reduce	VERB
cjfa-12567	283	8	portfolio	portfolio	NOUN
cjfa-12567	283	9	risk	risk	NOUN
cjfa-12567	283	10	and	and	CCONJ
cjfa-12567	283	11	focuses	focus	VERB
cjfa-12567	283	12	on	on	ADP
cjfa-12567	283	13	defining	define	VERB
cjfa-12567	283	14	weights	weight	NOUN
cjfa-12567	283	15	that	that	PRON
cjfa-12567	283	16	will	will	AUX
cjfa-12567	283	17	bring	bring	VERB
cjfa-12567	283	18	lowest	low	ADJ
cjfa-12567	283	19	possible	possible	ADJ
cjfa-12567	283	20	portfolio	portfolio	NOUN
cjfa-12567	283	21	volatility	volatility	NOUN
cjfa-12567	283	22	.	.	PUNCT
cjfa-12567	284	1	the	the	DET
cjfa-12567	284	2	goal	goal	NOUN
cjfa-12567	284	3	of	of	ADP
cjfa-12567	284	4	gmv	gmv	PROPN
cjfa-12567	284	5	is	be	AUX
cjfa-12567	284	6	to	to	PART
cjfa-12567	284	7	create	create	VERB
cjfa-12567	284	8	high	high	ADJ
cjfa-12567	284	9	return	return	NOUN
cjfa-12567	284	10	and	and	CCONJ
cjfa-12567	284	11	adjusting	adjust	VERB
cjfa-12567	284	12	risk	risk	NOUN
cjfa-12567	284	13	at	at	ADP
cjfa-12567	284	14	a	a	DET
cjfa-12567	284	15	same	same	ADJ
cjfa-12567	284	16	time	time	NOUN
cjfa-12567	284	17	(	(	PUNCT
cjfa-12567	284	18	arnott	arnott	PROPN
cjfa-12567	284	19	et	et	PROPN
cjfa-12567	284	20	al	al	PROPN
cjfa-12567	284	21	.	.	PROPN
cjfa-12567	284	22	,	,	PUNCT
cjfa-12567	284	23	2010	2010	NUM
cjfa-12567	284	24	)	)	PUNCT
cjfa-12567	284	25	.	.	PUNCT
cjfa-12567	285	1	researches	research	NOUN
cjfa-12567	285	2	of	of	ADP
cjfa-12567	285	3	ang	ang	PROPN
cjfa-12567	285	4	(	(	PUNCT
cjfa-12567	285	5	ang	ang	INTJ
cjfa-12567	285	6	et	et	PROPN
cjfa-12567	285	7	al	al	PROPN
cjfa-12567	285	8	.	.	PROPN
cjfa-12567	285	9	,	,	PUNCT
cjfa-12567	285	10	2006	2006	NUM
cjfa-12567	285	11	)	)	PUNCT
cjfa-12567	285	12	proves	prove	VERB
cjfa-12567	285	13	that	that	SCONJ
cjfa-12567	285	14	comparing	compare	VERB
cjfa-12567	285	15	to	to	ADP
cjfa-12567	285	16	the	the	DET
cjfa-12567	285	17	market	market	NOUN
cjfa-12567	285	18	low	low	ADJ
cjfa-12567	285	19	-	-	PUNCT
cjfa-12567	285	20	volatility	volatility	NOUN
cjfa-12567	285	21	assets	asset	NOUN
cjfa-12567	285	22	bring	bring	VERB
cjfa-12567	285	23	greater	great	ADJ
cjfa-12567	285	24	returns	return	NOUN
cjfa-12567	285	25	and	and	CCONJ
cjfa-12567	285	26	high	high	ADJ
cjfa-12567	285	27	-	-	PUNCT
cjfa-12567	285	28	volatility	volatility	NOUN
cjfa-12567	285	29	stocks	stock	NOUN
cjfa-12567	285	30	usually	usually	ADV
cjfa-12567	285	31	bring	bring	VERB
cjfa-12567	285	32	lower	low	ADJ
cjfa-12567	285	33	returns	return	NOUN
cjfa-12567	285	34	than	than	ADP
cjfa-12567	285	35	the	the	DET
cjfa-12567	285	36	market	market	NOUN
cjfa-12567	285	37	.	.	PUNCT
cjfa-12567	286	1	the	the	DET
cjfa-12567	286	2	same	same	ADJ
cjfa-12567	286	3	regularity	regularity	NOUN
cjfa-12567	286	4	on	on	ADP
cjfa-12567	286	5	european	european	ADJ
cjfa-12567	286	6	and	and	CCONJ
cjfa-12567	286	7	japanese	japanese	ADJ
cjfa-12567	286	8	markets	market	NOUN
cjfa-12567	286	9	has	have	AUX
cjfa-12567	286	10	been	be	AUX
cjfa-12567	286	11	identified	identify	VERB
cjfa-12567	286	12	by	by	ADP
cjfa-12567	286	13	blitz	blitz	NOUN
cjfa-12567	286	14	and	and	CCONJ
cjfa-12567	286	15	van	van	PROPN
cjfa-12567	286	16	vliet	vliet	PROPN
cjfa-12567	286	17	(	(	PUNCT
cjfa-12567	286	18	blitz	blitz	PROPN
cjfa-12567	286	19	&	&	CCONJ
cjfa-12567	286	20	van	van	PROPN
cjfa-12567	286	21	vilet	vilet	NOUN
cjfa-12567	286	22	,	,	PUNCT
cjfa-12567	286	23	2007	2007	NUM
cjfa-12567	286	24	)	)	PUNCT
cjfa-12567	286	25	.	.	PUNCT
cjfa-12567	287	1	construction	construction	NOUN
cjfa-12567	287	2	of	of	ADP
cjfa-12567	287	3	gmv	gmv	ADJ
cjfa-12567	287	4	index	index	NOUN
cjfa-12567	287	5	is	be	AUX
cjfa-12567	287	6	quite	quite	ADV
cjfa-12567	287	7	simple	simple	ADJ
cjfa-12567	287	8	.	.	PUNCT
cjfa-12567	288	1	to	to	PART
cjfa-12567	288	2	find	find	VERB
cjfa-12567	288	3	the	the	DET
cjfa-12567	288	4	right	right	ADJ
cjfa-12567	288	5	weights	weight	NOUN
cjfa-12567	288	6	,	,	PUNCT
cjfa-12567	288	7	only	only	ADV
cjfa-12567	288	8	the	the	DET
cjfa-12567	288	9	estimation	estimation	NOUN
cjfa-12567	288	10	of	of	ADP
cjfa-12567	288	11	volatilities	volatility	NOUN
cjfa-12567	288	12	and	and	CCONJ
cjfa-12567	288	13	correlation	correlation	NOUN
cjfa-12567	288	14	of	of	ADP
cjfa-12567	288	15	component	component	NOUN
cjfa-12567	288	16	assets	asset	NOUN
cjfa-12567	288	17	is	be	AUX
cjfa-12567	288	18	needed	need	VERB
cjfa-12567	288	19	:	:	PUNCT
cjfa-12567	288	20	source	source	NOUN
cjfa-12567	288	21	:	:	PUNCT
cjfa-12567	288	22	author	author	NOUN
cjfa-12567	288	23	’s	’s	PART
cjfa-12567	288	24	elaboration	elaboration	NOUN
cjfa-12567	288	25	.	.	PUNCT
cjfa-12567	289	1	global	global	ADJ
cjfa-12567	289	2	minimum	minimum	ADJ
cjfa-12567	289	3	variance	variance	NOUN
cjfa-12567	289	4	this	this	DET
cjfa-12567	289	5	approach	approach	NOUN
cjfa-12567	289	6	has	have	AUX
cjfa-12567	289	7	been	be	AUX
cjfa-12567	289	8	introduced	introduce	VERB
cjfa-12567	289	9	in	in	ADP
cjfa-12567	289	10	the	the	DET
cjfa-12567	289	11	early	early	ADJ
cjfa-12567	289	12	1990s	1990	NOUN
cjfa-12567	289	13	.	.	PUNCT
cjfa-12567	290	1	global	global	ADJ
cjfa-12567	290	2	minimum	minimum	ADJ
cjfa-12567	290	3	variance	variance	NOUN
cjfa-12567	290	4	is	be	AUX
cjfa-12567	290	5	designed	design	VERB
cjfa-12567	290	6	to	to	PART
cjfa-12567	290	7	reduce	reduce	VERB
cjfa-12567	290	8	portfolio	portfolio	NOUN
cjfa-12567	290	9	risk	risk	NOUN
cjfa-12567	290	10	and	and	CCONJ
cjfa-12567	290	11	focuses	focus	VERB
cjfa-12567	290	12	on	on	ADP
cjfa-12567	290	13	defining	define	VERB
cjfa-12567	290	14	weights	weight	NOUN
cjfa-12567	290	15	that	that	PRON
cjfa-12567	290	16	will	will	AUX
cjfa-12567	290	17	bring	bring	VERB
cjfa-12567	290	18	lowest	low	ADJ
cjfa-12567	290	19	possible	possible	ADJ
cjfa-12567	290	20	portfolio	portfolio	NOUN
cjfa-12567	290	21	volatility	volatility	NOUN
cjfa-12567	290	22	.	.	PUNCT
cjfa-12567	291	1	the	the	DET
cjfa-12567	291	2	goal	goal	NOUN
cjfa-12567	291	3	of	of	ADP
cjfa-12567	291	4	gmv	gmv	PROPN
cjfa-12567	291	5	is	be	AUX
cjfa-12567	291	6	to	to	PART
cjfa-12567	291	7	create	create	VERB
cjfa-12567	291	8	high	high	ADJ
cjfa-12567	291	9	return	return	NOUN
cjfa-12567	291	10	and	and	CCONJ
cjfa-12567	291	11	adjusting	adjust	VERB
cjfa-12567	291	12	risk	risk	NOUN
cjfa-12567	291	13	at	at	ADP
cjfa-12567	291	14	a	a	DET
cjfa-12567	291	15	same	same	ADJ
cjfa-12567	291	16	time	time	NOUN
cjfa-12567	291	17	(	(	PUNCT
cjfa-12567	291	18	arnott	arnott	PROPN
cjfa-12567	291	19	et	et	PROPN
cjfa-12567	291	20	al	al	PROPN
cjfa-12567	291	21	.	.	PROPN
cjfa-12567	291	22	,	,	PUNCT
cjfa-12567	291	23	2010	2010	NUM
cjfa-12567	291	24	)	)	PUNCT
cjfa-12567	291	25	.	.	PUNCT
cjfa-12567	292	1	researches	research	NOUN
cjfa-12567	292	2	of	of	ADP
cjfa-12567	292	3	ang	ang	PROPN
cjfa-12567	292	4	(	(	PUNCT
cjfa-12567	292	5	ang	ang	INTJ
cjfa-12567	292	6	et	et	PROPN
cjfa-12567	292	7	al	al	PROPN
cjfa-12567	292	8	.	.	PROPN
cjfa-12567	292	9	,	,	PUNCT
cjfa-12567	292	10	2006	2006	NUM
cjfa-12567	292	11	)	)	PUNCT
cjfa-12567	292	12	proves	prove	VERB
cjfa-12567	292	13	that	that	SCONJ
cjfa-12567	292	14	comparing	compare	VERB
cjfa-12567	292	15	to	to	ADP
cjfa-12567	292	16	the	the	DET
cjfa-12567	292	17	market	market	NOUN
cjfa-12567	292	18	low	low	ADJ
cjfa-12567	292	19	-	-	PUNCT
cjfa-12567	292	20	volatility	volatility	NOUN
cjfa-12567	292	21	assets	asset	NOUN
cjfa-12567	292	22	bring	bring	VERB
cjfa-12567	292	23	greater	great	ADJ
cjfa-12567	292	24	returns	return	NOUN
cjfa-12567	292	25	and	and	CCONJ
cjfa-12567	292	26	high	high	ADJ
cjfa-12567	292	27	-	-	PUNCT
cjfa-12567	292	28	volatility	volatility	NOUN
cjfa-12567	292	29	stocks	stock	NOUN
cjfa-12567	292	30	usually	usually	ADV
cjfa-12567	292	31	bring	bring	VERB
cjfa-12567	292	32	lower	low	ADJ
cjfa-12567	292	33	returns	return	NOUN
cjfa-12567	292	34	than	than	ADP
cjfa-12567	292	35	the	the	DET
cjfa-12567	292	36	market	market	NOUN
cjfa-12567	292	37	.	.	PUNCT
cjfa-12567	293	1	the	the	DET
cjfa-12567	293	2	same	same	ADJ
cjfa-12567	293	3	regularity	regularity	NOUN
cjfa-12567	293	4	on	on	ADP
cjfa-12567	293	5	european	european	ADJ
cjfa-12567	293	6	and	and	CCONJ
cjfa-12567	293	7	japanese	japanese	ADJ
cjfa-12567	293	8	markets	market	NOUN
cjfa-12567	293	9	has	have	AUX
cjfa-12567	293	10	been	be	AUX
cjfa-12567	293	11	identified	identify	VERB
cjfa-12567	293	12	by	by	ADP
cjfa-12567	293	13	blitz	blitz	NOUN
cjfa-12567	293	14	and	and	CCONJ
cjfa-12567	293	15	van	van	PROPN
cjfa-12567	293	16	vliet	vliet	PROPN
cjfa-12567	293	17	(	(	PUNCT
cjfa-12567	293	18	blitz	blitz	PROPN
cjfa-12567	293	19	&	&	CCONJ
cjfa-12567	293	20	van	van	PROPN
cjfa-12567	293	21	vilet	vilet	NOUN
cjfa-12567	293	22	,	,	PUNCT
cjfa-12567	293	23	2007	2007	NUM
cjfa-12567	293	24	)	)	PUNCT
cjfa-12567	293	25	.	.	PUNCT
cjfa-12567	294	1	construction	construction	NOUN
cjfa-12567	294	2	of	of	ADP
cjfa-12567	294	3	gmv	gmv	ADJ
cjfa-12567	294	4	index	index	NOUN
cjfa-12567	294	5	is	be	AUX
cjfa-12567	294	6	quite	quite	ADV
cjfa-12567	294	7	simple	simple	ADJ
cjfa-12567	294	8	.	.	PUNCT
cjfa-12567	295	1	to	to	PART
cjfa-12567	295	2	find	find	VERB
cjfa-12567	295	3	the	the	DET
cjfa-12567	295	4	right	right	ADJ
cjfa-12567	295	5	weights	weight	NOUN
cjfa-12567	295	6	,	,	PUNCT
cjfa-12567	295	7	only	only	ADV
cjfa-12567	295	8	the	the	DET
cjfa-12567	295	9	estimation	estimation	NOUN
cjfa-12567	295	10	of	of	ADP
cjfa-12567	295	11	volatilities	volatility	NOUN
cjfa-12567	295	12	and	and	CCONJ
cjfa-12567	295	13	correlation	correlation	NOUN
cjfa-12567	295	14	of	of	ADP
cjfa-12567	295	15	component	component	NOUN
cjfa-12567	295	16	assets	asset	NOUN
cjfa-12567	295	17	is	be	AUX
cjfa-12567	295	18	needed	need	VERB
cjfa-12567	295	19	:	:	PUNCT
cjfa-12567	295	20	w	w	PROPN
cjfa-12567	295	21	�	�	PROPN
cjfa-12567	295	22	�	�	PROPN
cjfa-12567	295	23	�	�	PROPN
cjfa-12567	295	24	=	=	SYM
cjfa-12567	295	25	�	�	PROPN
cjfa-12567	295	26	�	�	PROPN
cjfa-12567	295	27	�	�	PROPN
cjfa-12567	295	28	�	�	PROPN
cjfa-12567	295	29	�	�	PROPN
cjfa-12567	295	30	�	�	PROPN
cjfa-12567	295	31	�	�	PROPN
cjfa-12567	295	32	�	�	PROPN
cjfa-12567	295	33	�	�	PROPN
cjfa-12567	295	34	�	�	PROPN
cjfa-12567	295	35	,	,	PUNCT
cjfa-12567	295	36	where	where	SCONJ
cjfa-12567	295	37	:	:	PUNCT
cjfa-12567	295	38	1vector	1vector	NUM
cjfa-12567	295	39	of	of	ADP
cjfa-12567	295	40	ones	one	NOUN
cjfa-12567	295	41	,	,	PUNCT
cjfa-12567	295	42	∑	∑	ADP
cjfa-12567	295	43	covariance	covariance	NOUN
cjfa-12567	295	44	matrix	matrix	NOUN
cjfa-12567	295	45	.	.	PUNCT
cjfa-12567	296	1	studying	study	VERB
cjfa-12567	296	2	stock	stock	NOUN
cjfa-12567	296	3	selection	selection	NOUN
cjfa-12567	296	4	,	,	PUNCT
cjfa-12567	296	5	it	it	PRON
cjfa-12567	296	6	can	can	AUX
cjfa-12567	296	7	be	be	AUX
cjfa-12567	296	8	observed	observe	VERB
cjfa-12567	296	9	that	that	SCONJ
cjfa-12567	296	10	gmv	gmv	ADV
cjfa-12567	296	11	favors	favor	VERB
cjfa-12567	296	12	low	low	ADJ
cjfa-12567	296	13	beta	beta	ADJ
cjfa-12567	296	14	stocks	stock	NOUN
cjfa-12567	296	15	.	.	PUNCT
cjfa-12567	297	1	that	that	PRON
cjfa-12567	297	2	is	be	AUX
cjfa-12567	297	3	the	the	DET
cjfa-12567	297	4	reason	reason	NOUN
cjfa-12567	297	5	why	why	SCONJ
cjfa-12567	297	6	low	low	ADJ
cjfa-12567	297	7	volatility	volatility	NOUN
cjfa-12567	297	8	indexes	index	NOUN
cjfa-12567	297	9	has	have	VERB
cjfa-12567	297	10	the	the	DET
cjfa-12567	297	11	lowest	low	ADJ
cjfa-12567	297	12	beta	beta	NOUN
cjfa-12567	297	13	of	of	ADP
cjfa-12567	297	14	all	all	DET
cjfa-12567	297	15	alternative	alternative	ADJ
cjfa-12567	297	16	indices	index	NOUN
cjfa-12567	297	17	.	.	PUNCT
cjfa-12567	298	1	of	of	ADP
cjfa-12567	298	2	course	course	NOUN
cjfa-12567	298	3	low	low	ADJ
cjfa-12567	298	4	volatile	volatile	ADJ
cjfa-12567	298	5	assets	asset	NOUN
cjfa-12567	298	6	are	be	AUX
cjfa-12567	298	7	an	an	DET
cjfa-12567	298	8	advantage	advantage	NOUN
cjfa-12567	298	9	,	,	PUNCT
cjfa-12567	298	10	but	but	CCONJ
cjfa-12567	298	11	focus	focus	VERB
cjfa-12567	298	12	on	on	ADP
cjfa-12567	298	13	least	least	ADJ
cjfa-12567	298	14	volatile	volatile	ADJ
cjfa-12567	298	15	stocks	stock	NOUN
cjfa-12567	298	16	regardless	regardless	ADV
cjfa-12567	298	17	of	of	ADP
cjfa-12567	298	18	other	other	ADJ
cjfa-12567	298	19	factors	factor	NOUN
cjfa-12567	298	20	may	may	AUX
cjfa-12567	298	21	bring	bring	VERB
cjfa-12567	298	22	high	high	ADJ
cjfa-12567	298	23	concentration	concentration	NOUN
cjfa-12567	298	24	in	in	ADP
cjfa-12567	298	25	utility	utility	NOUN
cjfa-12567	298	26	sector	sector	NOUN
cjfa-12567	298	27	,	,	PUNCT
cjfa-12567	298	28	which	which	PRON
cjfa-12567	298	29	is	be	AUX
cjfa-12567	298	30	known	know	VERB
cjfa-12567	298	31	of	of	ADP
cjfa-12567	298	32	its	its	PRON
cjfa-12567	298	33	low	low	ADJ
cjfa-12567	298	34	volatility	volatility	NOUN
cjfa-12567	298	35	(	(	PUNCT
cjfa-12567	298	36	amenc	amenc	PROPN
cjfa-12567	298	37	et	et	PROPN
cjfa-12567	298	38	al	al	PROPN
cjfa-12567	298	39	.	.	PROPN
cjfa-12567	298	40	,	,	PUNCT
cjfa-12567	298	41	2013	2013	NUM
cjfa-12567	298	42	)	)	PUNCT
cjfa-12567	298	43	.	.	PUNCT
cjfa-12567	299	1	at	at	ADP
cjfa-12567	299	2	this	this	DET
cjfa-12567	299	3	moment	moment	NOUN
cjfa-12567	299	4	the	the	DET
cjfa-12567	299	5	question	question	NOUN
cjfa-12567	299	6	arises	arise	VERB
cjfa-12567	299	7	:	:	PUNCT
cjfa-12567	299	8	if	if	SCONJ
cjfa-12567	299	9	the	the	DET
cjfa-12567	299	10	investors	investor	NOUN
cjfa-12567	299	11	are	be	AUX
cjfa-12567	299	12	moving	move	VERB
cjfa-12567	299	13	away	away	ADV
cjfa-12567	299	14	from	from	ADP
cjfa-12567	299	15	cap	cap	NOUN
cjfa-12567	299	16	-	-	PUNCT
cjfa-12567	299	17	weighted	weight	VERB
cjfa-12567	299	18	indices	index	NOUN
cjfa-12567	299	19	,	,	PUNCT
cjfa-12567	299	20	because	because	SCONJ
cjfa-12567	299	21	of	of	ADP
cjfa-12567	299	22	their	their	PRON
cjfa-12567	299	23	high	high	ADJ
cjfa-12567	299	24	concentration	concentration	NOUN
cjfa-12567	299	25	in	in	ADP
cjfa-12567	299	26	the	the	DET
cjfa-12567	299	27	largest	large	ADJ
cjfa-12567	299	28	stocks	stock	NOUN
cjfa-12567	299	29	,	,	PUNCT
cjfa-12567	299	30	is	be	AUX
cjfa-12567	299	31	choosing	choose	VERB
cjfa-12567	299	32	heavily	heavily	ADV
cjfa-12567	299	33	concentrated	concentrated	ADJ
cjfa-12567	299	34	,	,	PUNCT
cjfa-12567	299	35	but	but	CCONJ
cjfa-12567	299	36	in	in	ADP
cjfa-12567	299	37	least	least	ADJ
cjfa-12567	299	38	volatile	volatile	ADJ
cjfa-12567	299	39	stocks	stock	NOUN
cjfa-12567	299	40	a	a	DET
cjfa-12567	299	41	good	good	ADJ
cjfa-12567	299	42	solution	solution	NOUN
cjfa-12567	299	43	?	?	PUNCT
cjfa-12567	300	1	to	to	PART
cjfa-12567	300	2	diversify	diversify	VERB
cjfa-12567	300	3	the	the	DET
cjfa-12567	300	4	gmv	gmv	ADJ
cjfa-12567	300	5	portfolios	portfolio	NOUN
cjfa-12567	300	6	,	,	PUNCT
cjfa-12567	300	7	improvements	improvement	NOUN
cjfa-12567	300	8	like	like	ADP
cjfa-12567	300	9	constraining	constrain	VERB
cjfa-12567	300	10	the	the	DET
cjfa-12567	300	11	weights	weight	NOUN
cjfa-12567	300	12	or	or	CCONJ
cjfa-12567	300	13	modifying	modify	VERB
cjfa-12567	300	14	model	model	NOUN
cjfa-12567	300	15	’s	’s	PART
cjfa-12567	300	16	assumption	assumption	NOUN
cjfa-12567	300	17	has	have	AUX
cjfa-12567	300	18	been	be	AUX
cjfa-12567	300	19	proposed	propose	VERB
cjfa-12567	300	20	.	.	PUNCT
cjfa-12567	301	1	the	the	DET
cjfa-12567	301	2	best	well	ADV
cjfa-12567	301	3	known	know	VERB
cjfa-12567	301	4	improved	improve	VERB
cjfa-12567	301	5	gmv	gmv	ADJ
cjfa-12567	301	6	approaches	approach	NOUN
cjfa-12567	301	7	are	be	AUX
cjfa-12567	301	8	maximum	maximum	ADJ
cjfa-12567	301	9	decorrelation	decorrelation	NOUN
cjfa-12567	301	10	,	,	PUNCT
cjfa-12567	301	11	which	which	PRON
cjfa-12567	301	12	assumes	assume	VERB
cjfa-12567	301	13	that	that	SCONJ
cjfa-12567	301	14	volatility	volatility	NOUN
cjfa-12567	301	15	is	be	AUX
cjfa-12567	301	16	the	the	DET
cjfa-12567	301	17	same	same	ADJ
cjfa-12567	301	18	across	across	ADP
cjfa-12567	301	19	the	the	DET
cjfa-12567	301	20	stocks	stock	NOUN
cjfa-12567	301	21	or	or	CCONJ
cjfa-12567	301	22	diversified	diversify	VERB
cjfa-12567	301	23	minimum	minimum	ADJ
cjfa-12567	301	24	variance	variance	NOUN
cjfa-12567	301	25	,	,	PUNCT
cjfa-12567	301	26	where	where	SCONJ
cjfa-12567	301	27	has	have	AUX
cjfa-12567	301	28	been	be	AUX
cjfa-12567	301	29	assumed	assume	VERB
cjfa-12567	301	30	that	that	SCONJ
cjfa-12567	301	31	there	there	PRON
cjfa-12567	301	32	is	be	VERB
cjfa-12567	301	33	no	no	DET
cjfa-12567	301	34	correlation	correlation	NOUN
cjfa-12567	301	35	between	between	ADP
cjfa-12567	301	36	stocks	stock	NOUN
cjfa-12567	301	37	.	.	PUNCT
cjfa-12567	302	1	figure	figure	NOUN
cjfa-12567	302	2	5	5	NUM
cjfa-12567	302	3	shows	show	VERB
cjfa-12567	302	4	implementation	implementation	NOUN
cjfa-12567	302	5	of	of	ADP
cjfa-12567	302	6	gmv	gmv	ADV
cjfa-12567	302	7	weighting	weight	VERB
cjfa-12567	302	8	to	to	PART
cjfa-12567	302	9	wig20	wig20	VERB
cjfa-12567	302	10	by	by	ADP
cjfa-12567	302	11	minimizing	minimize	VERB
cjfa-12567	302	12	index	index	NOUN
cjfa-12567	302	13	’s	’s	PART
cjfa-12567	302	14	variance	variance	NOUN
cjfa-12567	302	15	based	base	VERB
cjfa-12567	302	16	on	on	ADP
cjfa-12567	302	17	43	43	NUM
cjfa-12567	302	18	months	month	NOUN
cjfa-12567	302	19	data	datum	NOUN
cjfa-12567	302	20	.	.	PUNCT
cjfa-12567	303	1	portfolio	portfolio	NOUN
cjfa-12567	303	2	is	be	AUX
cjfa-12567	303	3	quite	quite	ADV
cjfa-12567	303	4	diversified	diversified	ADJ
cjfa-12567	303	5	.	.	PUNCT
cjfa-12567	304	1	contains	contain	VERB
cjfa-12567	304	2	10	10	NUM
cjfa-12567	304	3	companies	company	NOUN
cjfa-12567	304	4	.	.	PUNCT
cjfa-12567	305	1	other	other	ADJ
cjfa-12567	305	2	10	10	NUM
cjfa-12567	305	3	have	have	AUX
cjfa-12567	305	4	been	be	AUX
cjfa-12567	305	5	eliminated	eliminate	VERB
cjfa-12567	305	6	due	due	ADP
cjfa-12567	305	7	to	to	ADP
cjfa-12567	305	8	negative	negative	ADJ
cjfa-12567	305	9	mean	mean	NOUN
cjfa-12567	305	10	return	return	NOUN
cjfa-12567	305	11	rates	rate	NOUN
cjfa-12567	305	12	.	.	PUNCT
cjfa-12567	306	1	over	over	ADP
cjfa-12567	306	2	45	45	NUM
cjfa-12567	306	3	%	%	NOUN
cjfa-12567	306	4	of	of	ADP
cjfa-12567	306	5	portfolio	portfolio	NOUN
cjfa-12567	306	6	is	be	AUX
cjfa-12567	306	7	concentrated	concentrate	VERB
cjfa-12567	306	8	in	in	ADP
cjfa-12567	306	9	2	2	NUM
cjfa-12567	306	10	companies	company	NOUN
cjfa-12567	306	11	:	:	PUNCT
cjfa-12567	306	12	acp	acp	PROPN
cjfa-12567	306	13	(	(	PUNCT
cjfa-12567	306	14	it	it	PRON
cjfa-12567	306	15	)	)	PUNCT
cjfa-12567	306	16	and	and	CCONJ
cjfa-12567	306	17	cps	cps	PROPN
cjfa-12567	306	18	(	(	PUNCT
cjfa-12567	306	19	media	medium	NOUN
cjfa-12567	306	20	)	)	PUNCT
cjfa-12567	306	21	.	.	PUNCT
cjfa-12567	307	1	both	both	PRON
cjfa-12567	307	2	have	have	VERB
cjfa-12567	307	3	positive	positive	ADJ
cjfa-12567	307	4	mean	mean	NOUN
cjfa-12567	307	5	return	return	NOUN
cjfa-12567	307	6	rate	rate	NOUN
cjfa-12567	307	7	and	and	CCONJ
cjfa-12567	307	8	one	one	NUM
cjfa-12567	307	9	of	of	ADP
cjfa-12567	307	10	the	the	DET
cjfa-12567	307	11	lowest	low	ADJ
cjfa-12567	307	12	standard	standard	ADJ
cjfa-12567	307	13	deviation	deviation	NOUN
cjfa-12567	307	14	.	.	PUNCT
cjfa-12567	308	1	looking	look	VERB
cjfa-12567	308	2	on	on	ADP
cjfa-12567	308	3	table	table	NOUN
cjfa-12567	308	4	4	4	NUM
cjfa-12567	308	5	,	,	PUNCT
cjfa-12567	308	6	which	which	PRON
cjfa-12567	308	7	compares	compare	VERB
cjfa-12567	308	8	annual	annual	ADJ
cjfa-12567	308	9	return	return	NOUN
cjfa-12567	308	10	rates	rate	NOUN
cjfa-12567	308	11	between	between	ADP
cjfa-12567	308	12	cap	cap	NOUN
cjfa-12567	308	13	and	and	CCONJ
cjfa-12567	308	14	gmv	gmv	PROPN
cjfa-12567	308	15	weighted	weight	VERB
cjfa-12567	308	16	portfolio	portfolio	NOUN
cjfa-12567	308	17	,	,	PUNCT
cjfa-12567	308	18	it	it	PRON
cjfa-12567	308	19	can	can	AUX
cjfa-12567	308	20	be	be	AUX
cjfa-12567	308	21	easily	easily	ADV
cjfa-12567	308	22	noticed	notice	VERB
cjfa-12567	308	23	how	how	SCONJ
cjfa-12567	308	24	the	the	DET
cjfa-12567	308	25	return	return	NOUN
cjfa-12567	308	26	rate	rate	NOUN
cjfa-12567	308	27	improved	improve	VERB
cjfa-12567	308	28	when	when	SCONJ
cjfa-12567	308	29	the	the	DET
cjfa-12567	308	30	weighting	weighting	NOUN
cjfa-12567	308	31	scheme	scheme	NOUN
cjfa-12567	308	32	has	have	AUX
cjfa-12567	308	33	changed	change	VERB
cjfa-12567	308	34	.	.	PUNCT
cjfa-12567	309	1	,	,	PUNCT
cjfa-12567	309	2	where	where	SCONJ
cjfa-12567	309	3	:	:	PUNCT
cjfa-12567	309	4	1	1	NUM
cjfa-12567	309	5	–	–	PUNCT
cjfa-12567	309	6	vector	vector	NOUN
cjfa-12567	309	7	of	of	ADP
cjfa-12567	309	8	ones	one	NOUN
cjfa-12567	309	9	,	,	PUNCT
cjfa-12567	309	10	∑	∑	ADV
cjfa-12567	309	11	–	–	PUNCT
cjfa-12567	309	12	covariance	covariance	NOUN
cjfa-12567	309	13	matrix	matrix	NOUN
cjfa-12567	309	14	.	.	PUNCT
cjfa-12567	310	1	studying	study	VERB
cjfa-12567	310	2	stock	stock	NOUN
cjfa-12567	310	3	selection	selection	NOUN
cjfa-12567	310	4	,	,	PUNCT
cjfa-12567	310	5	it	it	PRON
cjfa-12567	310	6	can	can	AUX
cjfa-12567	310	7	be	be	AUX
cjfa-12567	310	8	observed	observe	VERB
cjfa-12567	310	9	that	that	SCONJ
cjfa-12567	310	10	gmv	gmv	ADV
cjfa-12567	310	11	favors	favor	VERB
cjfa-12567	310	12	low	low	ADJ
cjfa-12567	310	13	beta	beta	ADJ
cjfa-12567	310	14	stocks	stock	NOUN
cjfa-12567	310	15	.	.	PUNCT
cjfa-12567	311	1	that	that	PRON
cjfa-12567	311	2	is	be	AUX
cjfa-12567	311	3	the	the	DET
cjfa-12567	311	4	reason	reason	NOUN
cjfa-12567	311	5	why	why	SCONJ
cjfa-12567	311	6	low	low	ADJ
cjfa-12567	311	7	volatility	volatility	NOUN
cjfa-12567	311	8	indexes	index	NOUN
cjfa-12567	311	9	has	have	VERB
cjfa-12567	311	10	the	the	DET
cjfa-12567	311	11	lowest	low	ADJ
cjfa-12567	311	12	beta	beta	NOUN
cjfa-12567	311	13	of	of	ADP
cjfa-12567	311	14	all	all	DET
cjfa-12567	311	15	alternative	alternative	ADJ
cjfa-12567	311	16	indices	index	NOUN
cjfa-12567	311	17	.	.	PUNCT
cjfa-12567	312	1	of	of	ADP
cjfa-12567	312	2	course	course	NOUN
cjfa-12567	312	3	low	low	ADJ
cjfa-12567	312	4	volatile	volatile	ADJ
cjfa-12567	312	5	assets	asset	NOUN
cjfa-12567	312	6	are	be	AUX
cjfa-12567	312	7	an	an	DET
cjfa-12567	312	8	advantage	advantage	NOUN
cjfa-12567	312	9	,	,	PUNCT
cjfa-12567	312	10	but	but	CCONJ
cjfa-12567	312	11	focus	focus	VERB
cjfa-12567	312	12	on	on	ADP
cjfa-12567	312	13	least	least	ADJ
cjfa-12567	312	14	volatile	volatile	ADJ
cjfa-12567	312	15	stocks	stock	NOUN
cjfa-12567	312	16	regardless	regardless	ADV
cjfa-12567	312	17	of	of	ADP
cjfa-12567	312	18	other	other	ADJ
cjfa-12567	312	19	factors	factor	NOUN
cjfa-12567	312	20	may	may	AUX
cjfa-12567	312	21	bring	bring	VERB
cjfa-12567	312	22	high	high	ADJ
cjfa-12567	312	23	concentration	concentration	NOUN
cjfa-12567	312	24	in	in	ADP
cjfa-12567	312	25	utility	utility	NOUN
cjfa-12567	312	26	sector	sector	NOUN
cjfa-12567	312	27	,	,	PUNCT
cjfa-12567	312	28	which	which	PRON
cjfa-12567	312	29	is	be	AUX
cjfa-12567	312	30	known	know	VERB
cjfa-12567	312	31	of	of	ADP
cjfa-12567	312	32	its	its	PRON
cjfa-12567	312	33	low	low	ADJ
cjfa-12567	312	34	volatility	volatility	NOUN
cjfa-12567	312	35	(	(	PUNCT
cjfa-12567	312	36	amenc	amenc	PROPN
cjfa-12567	312	37	et	et	PROPN
cjfa-12567	312	38	al	al	PROPN
cjfa-12567	312	39	.	.	PROPN
cjfa-12567	312	40	,	,	PUNCT
cjfa-12567	312	41	2013	2013	NUM
cjfa-12567	312	42	)	)	PUNCT
cjfa-12567	312	43	.	.	PUNCT
cjfa-12567	313	1	at	at	ADP
cjfa-12567	313	2	this	this	DET
cjfa-12567	313	3	moment	moment	NOUN
cjfa-12567	313	4	the	the	DET
cjfa-12567	313	5	question	question	NOUN
cjfa-12567	313	6	arises	arise	VERB
cjfa-12567	313	7	:	:	PUNCT
cjfa-12567	313	8	if	if	SCONJ
cjfa-12567	313	9	the	the	DET
cjfa-12567	313	10	investors	investor	NOUN
cjfa-12567	313	11	are	be	AUX
cjfa-12567	313	12	moving	move	VERB
cjfa-12567	313	13	away	away	ADV
cjfa-12567	313	14	from	from	ADP
cjfa-12567	313	15	cap	cap	NOUN
cjfa-12567	313	16	-	-	PUNCT
cjfa-12567	313	17	weighted	weight	VERB
cjfa-12567	313	18	indices	index	NOUN
cjfa-12567	313	19	,	,	PUNCT
cjfa-12567	313	20	because	because	SCONJ
cjfa-12567	313	21	of	of	ADP
cjfa-12567	313	22	their	their	PRON
cjfa-12567	313	23	high	high	ADJ
cjfa-12567	313	24	concentration	concentration	NOUN
cjfa-12567	313	25	in	in	ADP
cjfa-12567	313	26	the	the	DET
cjfa-12567	313	27	largest	large	ADJ
cjfa-12567	313	28	stocks	stock	NOUN
cjfa-12567	313	29	,	,	PUNCT
cjfa-12567	313	30	is	be	AUX
cjfa-12567	313	31	choosing	choose	VERB
cjfa-12567	313	32	heavily	heavily	ADV
cjfa-12567	313	33	concentrated	concentrated	ADJ
cjfa-12567	313	34	,	,	PUNCT
cjfa-12567	313	35	but	but	CCONJ
cjfa-12567	313	36	in	in	ADP
cjfa-12567	313	37	least	least	ADJ
cjfa-12567	313	38	volatile	volatile	ADJ
cjfa-12567	313	39	stocks	stock	NOUN
cjfa-12567	313	40	a	a	DET
cjfa-12567	313	41	good	good	ADJ
cjfa-12567	313	42	solution	solution	NOUN
cjfa-12567	313	43	?	?	PUNCT
cjfa-12567	314	1	to	to	PART
cjfa-12567	314	2	diversify	diversify	VERB
cjfa-12567	314	3	the	the	DET
cjfa-12567	314	4	gmv	gmv	ADJ
cjfa-12567	314	5	portfolios	portfolio	NOUN
cjfa-12567	314	6	,	,	PUNCT
cjfa-12567	314	7	improvements	improvement	NOUN
cjfa-12567	314	8	like	like	ADP
cjfa-12567	314	9	constraining	constrain	VERB
cjfa-12567	314	10	the	the	DET
cjfa-12567	314	11	weights	weight	NOUN
cjfa-12567	314	12	or	or	CCONJ
cjfa-12567	314	13	modifying	modify	VERB
cjfa-12567	314	14	model	model	NOUN
cjfa-12567	314	15	’s	’s	PART
cjfa-12567	314	16	assumption	assumption	NOUN
cjfa-12567	314	17	has	have	AUX
cjfa-12567	314	18	been	be	AUX
cjfa-12567	314	19	proposed	propose	VERB
cjfa-12567	314	20	.	.	PUNCT
cjfa-12567	315	1	the	the	DET
cjfa-12567	315	2	best	well	ADV
cjfa-12567	315	3	known	know	VERB
cjfa-12567	315	4	improved	improve	VERB
cjfa-12567	315	5	gmv	gmv	ADJ
cjfa-12567	315	6	approaches	approach	NOUN
cjfa-12567	315	7	are	be	AUX
cjfa-12567	315	8	maximum	maximum	ADJ
cjfa-12567	315	9	decorrelation	decorrelation	NOUN
cjfa-12567	315	10	,	,	PUNCT
cjfa-12567	315	11	which	which	PRON
cjfa-12567	315	12	assumes	assume	VERB
cjfa-12567	315	13	that	that	SCONJ
cjfa-12567	315	14	volatility	volatility	NOUN
cjfa-12567	315	15	is	be	AUX
cjfa-12567	315	16	the	the	DET
cjfa-12567	315	17	same	same	ADJ
cjfa-12567	315	18	across	across	ADP
cjfa-12567	315	19	the	the	DET
cjfa-12567	315	20	stocks	stock	NOUN
cjfa-12567	315	21	or	or	CCONJ
cjfa-12567	315	22	diversified	diversify	VERB
cjfa-12567	315	23	minimum	minimum	ADJ
cjfa-12567	315	24	variance	variance	NOUN
cjfa-12567	315	25	,	,	PUNCT
cjfa-12567	315	26	where	where	SCONJ
cjfa-12567	315	27	has	have	AUX
cjfa-12567	315	28	been	be	AUX
cjfa-12567	315	29	assumed	assume	VERB
cjfa-12567	315	30	that	that	SCONJ
cjfa-12567	315	31	there	there	PRON
cjfa-12567	315	32	is	be	VERB
cjfa-12567	315	33	no	no	DET
cjfa-12567	315	34	correlation	correlation	NOUN
cjfa-12567	315	35	between	between	ADP
cjfa-12567	315	36	stocks	stock	NOUN
cjfa-12567	315	37	.	.	PUNCT
cjfa-12567	316	1	figure	figure	NOUN
cjfa-12567	316	2	5	5	NUM
cjfa-12567	316	3	shows	show	VERB
cjfa-12567	316	4	implementation	implementation	NOUN
cjfa-12567	316	5	of	of	ADP
cjfa-12567	316	6	gmv	gmv	ADV
cjfa-12567	316	7	weighting	weight	VERB
cjfa-12567	316	8	to	to	PART
cjfa-12567	316	9	wig20	wig20	VERB
cjfa-12567	316	10	by	by	ADP
cjfa-12567	316	11	minimizing	minimize	VERB
cjfa-12567	316	12	index	index	NOUN
cjfa-12567	316	13	’s	’s	PART
cjfa-12567	316	14	variance	variance	NOUN
cjfa-12567	316	15	based	base	VERB
cjfa-12567	316	16	on	on	ADP
cjfa-12567	316	17	kamil	kamil	PROPN
cjfa-12567	316	18	nowak176	nowak176	PROPN
cjfa-12567	316	19	43	43	NUM
cjfa-12567	316	20	months	month	NOUN
cjfa-12567	316	21	data	datum	NOUN
cjfa-12567	316	22	.	.	PUNCT
cjfa-12567	317	1	portfolio	portfolio	NOUN
cjfa-12567	317	2	is	be	AUX
cjfa-12567	317	3	quite	quite	ADV
cjfa-12567	317	4	diversified	diversified	ADJ
cjfa-12567	317	5	.	.	PUNCT
cjfa-12567	318	1	contains	contain	VERB
cjfa-12567	318	2	10	10	NUM
cjfa-12567	318	3	companies	company	NOUN
cjfa-12567	318	4	.	.	PUNCT
cjfa-12567	319	1	other	other	ADJ
cjfa-12567	319	2	10	10	NUM
cjfa-12567	319	3	have	have	AUX
cjfa-12567	319	4	been	be	AUX
cjfa-12567	319	5	eliminated	eliminate	VERB
cjfa-12567	319	6	due	due	ADP
cjfa-12567	319	7	to	to	ADP
cjfa-12567	319	8	negative	negative	ADJ
cjfa-12567	319	9	mean	mean	NOUN
cjfa-12567	319	10	return	return	NOUN
cjfa-12567	319	11	rates	rate	NOUN
cjfa-12567	319	12	.	.	PUNCT
cjfa-12567	320	1	over	over	ADP
cjfa-12567	320	2	45	45	NUM
cjfa-12567	320	3	%	%	NOUN
cjfa-12567	320	4	of	of	ADP
cjfa-12567	320	5	portfolio	portfolio	NOUN
cjfa-12567	320	6	is	be	AUX
cjfa-12567	320	7	concentrated	concentrate	VERB
cjfa-12567	320	8	in	in	ADP
cjfa-12567	320	9	2	2	NUM
cjfa-12567	320	10	companies	company	NOUN
cjfa-12567	320	11	:	:	PUNCT
cjfa-12567	320	12	acp	acp	PROPN
cjfa-12567	320	13	(	(	PUNCT
cjfa-12567	320	14	it	it	PRON
cjfa-12567	320	15	)	)	PUNCT
cjfa-12567	320	16	and	and	CCONJ
cjfa-12567	320	17	cps	cps	PROPN
cjfa-12567	320	18	(	(	PUNCT
cjfa-12567	320	19	media	medium	NOUN
cjfa-12567	320	20	)	)	PUNCT
cjfa-12567	320	21	.	.	PUNCT
cjfa-12567	321	1	both	both	PRON
cjfa-12567	321	2	have	have	VERB
cjfa-12567	321	3	positive	positive	ADJ
cjfa-12567	321	4	mean	mean	NOUN
cjfa-12567	321	5	return	return	NOUN
cjfa-12567	321	6	rate	rate	NOUN
cjfa-12567	321	7	and	and	CCONJ
cjfa-12567	321	8	one	one	NUM
cjfa-12567	321	9	of	of	ADP
cjfa-12567	321	10	the	the	DET
cjfa-12567	321	11	lowest	low	ADJ
cjfa-12567	321	12	standard	standard	ADJ
cjfa-12567	321	13	deviation	deviation	NOUN
cjfa-12567	321	14	.	.	PUNCT
cjfa-12567	322	1	looking	look	VERB
cjfa-12567	322	2	on	on	ADP
cjfa-12567	322	3	table	table	NOUN
cjfa-12567	322	4	3	3	NUM
cjfa-12567	322	5	,	,	PUNCT
cjfa-12567	322	6	which	which	PRON
cjfa-12567	322	7	compares	compare	VERB
cjfa-12567	322	8	annual	annual	ADJ
cjfa-12567	322	9	return	return	NOUN
cjfa-12567	322	10	rates	rate	NOUN
cjfa-12567	322	11	between	between	ADP
cjfa-12567	322	12	cap	cap	NOUN
cjfa-12567	322	13	and	and	CCONJ
cjfa-12567	322	14	gmv	gmv	PROPN
cjfa-12567	322	15	weighted	weight	VERB
cjfa-12567	322	16	portfolio	portfolio	NOUN
cjfa-12567	322	17	,	,	PUNCT
cjfa-12567	322	18	it	it	PRON
cjfa-12567	322	19	can	can	AUX
cjfa-12567	322	20	be	be	AUX
cjfa-12567	322	21	easily	easily	ADV
cjfa-12567	322	22	noticed	notice	VERB
cjfa-12567	322	23	how	how	SCONJ
cjfa-12567	322	24	the	the	DET
cjfa-12567	322	25	return	return	NOUN
cjfa-12567	322	26	rate	rate	NOUN
cjfa-12567	322	27	improved	improve	VERB
cjfa-12567	322	28	when	when	SCONJ
cjfa-12567	322	29	the	the	DET
cjfa-12567	322	30	weighting	weighting	NOUN
cjfa-12567	322	31	scheme	scheme	NOUN
cjfa-12567	322	32	has	have	AUX
cjfa-12567	322	33	changed	change	VERB
cjfa-12567	322	34	.	.	PUNCT
cjfa-12567	323	1	figure	figure	VERB
cjfa-12567	323	2	5	5	NUM
cjfa-12567	323	3	.	.	PUNCT
cjfa-12567	324	1	wig20	wig20	PROPN
cjfa-12567	324	2	.	.	PUNCT
cjfa-12567	325	1	cap	cap	PROPN
cjfa-12567	325	2	vs.	vs.	X
cjfa-12567	325	3	gmv	gmv	ADV
cjfa-12567	325	4	weighting	weight	VERB
cjfa-12567	325	5	table	table	NOUN
cjfa-12567	325	6	3	3	NUM
cjfa-12567	325	7	.	.	PUNCT
cjfa-12567	325	8	annual	annual	ADJ
cjfa-12567	325	9	return	return	NOUN
cjfa-12567	325	10	rate	rate	NOUN
cjfa-12567	325	11	:	:	PUNCT
cjfa-12567	325	12	cap	cap	NOUN
cjfa-12567	325	13	vs.	vs.	X
cjfa-12567	325	14	gmv	gmv	PROPN
cjfa-12567	325	15	portfolio	portfolio	PROPN
cjfa-12567	325	16	annual	annual	ADJ
cjfa-12567	325	17	return	return	NOUN
cjfa-12567	325	18	annual	annual	ADJ
cjfa-12567	325	19	return	return	NOUN
cjfa-12567	325	20	difference	difference	NOUN
cjfa-12567	325	21	over	over	ADP
cjfa-12567	325	22	cap	cap	NOUN
cjfa-12567	325	23	-	-	PUNCT
cjfa-12567	325	24	weighting	weight	VERB
cjfa-12567	325	25	cap	cap	NOUN
cjfa-12567	325	26	-	-	PUNCT
cjfa-12567	325	27	weighted	weight	VERB
cjfa-12567	325	28	wig20	wig20	PROPN
cjfa-12567	325	29	-16,88	-16,88	ADP
cjfa-12567	325	30	%	%	X
cjfa-12567	325	31	gmv	gmv	ADV
cjfa-12567	325	32	-	-	PUNCT
cjfa-12567	325	33	weighted	weight	VERB
cjfa-12567	325	34	wig20	wig20	PROPN
cjfa-12567	325	35	+5,28	+5,28	PROPN
cjfa-12567	325	36	%	%	NOUN
cjfa-12567	325	37	22.16	22.16	NUM
cjfa-12567	325	38	%	%	NOUN
cjfa-12567	325	39	source	source	NOUN
cjfa-12567	325	40	:	:	PUNCT
cjfa-12567	325	41	author	author	NOUN
cjfa-12567	325	42	’s	’s	PART
cjfa-12567	325	43	elaboration	elaboration	NOUN
cjfa-12567	325	44	figure	figure	NOUN
cjfa-12567	325	45	4	4	NUM
cjfa-12567	325	46	.	.	PUNCT
cjfa-12567	326	1	wig20	wig20	PROPN
cjfa-12567	326	2	.	.	PUNCT
cjfa-12567	327	1	cap	cap	PROPN
cjfa-12567	327	2	vs.	vs.	X
cjfa-12567	327	3	gmv	gmv	ADV
cjfa-12567	327	4	weighting	weight	VERB
cjfa-12567	327	5	source	source	NOUN
cjfa-12567	327	6	:	:	PUNCT
cjfa-12567	327	7	author	author	NOUN
cjfa-12567	327	8	’s	’s	PART
cjfa-12567	327	9	elaboration	elaboration	NOUN
cjfa-12567	327	10	.	.	PUNCT
cjfa-12567	328	1	the	the	DET
cjfa-12567	328	2	outcome	outcome	NOUN
cjfa-12567	328	3	of	of	ADP
cjfa-12567	328	4	the	the	DET
cjfa-12567	328	5	research	research	NOUN
cjfa-12567	328	6	process	process	NOUN
cjfa-12567	328	7	and	and	CCONJ
cjfa-12567	328	8	conclusions	conclusion	NOUN
cjfa-12567	328	9	the	the	DET
cjfa-12567	328	10	rapid	rapid	ADJ
cjfa-12567	328	11	growth	growth	NOUN
cjfa-12567	328	12	of	of	ADP
cjfa-12567	328	13	smart	smart	ADJ
cjfa-12567	328	14	beta	beta	ADJ
cjfa-12567	328	15	strategies	strategy	NOUN
cjfa-12567	328	16	along	along	ADP
cjfa-12567	328	17	with	with	ADP
cjfa-12567	328	18	democratization	democratization	NOUN
cjfa-12567	328	19	of	of	ADP
cjfa-12567	328	20	investing	investing	NOUN
cjfa-12567	328	21	brought	bring	VERB
cjfa-12567	328	22	by	by	ADP
cjfa-12567	328	23	etfs	etfs	PROPN
cjfa-12567	328	24	is	be	AUX
cjfa-12567	328	25	often	often	ADV
cjfa-12567	328	26	perceived	perceive	VERB
cjfa-12567	328	27	as	as	ADP
cjfa-12567	328	28	a	a	DET
cjfa-12567	328	29	threat	threat	NOUN
cjfa-12567	328	30	by	by	ADP
cjfa-12567	328	31	active	active	ADJ
cjfa-12567	328	32	asset	asset	NOUN
cjfa-12567	328	33	managers	manager	NOUN
cjfa-12567	328	34	.	.	PUNCT
cjfa-12567	329	1	cost	cost	VERB
cjfa-12567	329	2	effective	effective	ADJ
cjfa-12567	329	3	and	and	CCONJ
cjfa-12567	329	4	approachable	approachable	ADJ
cjfa-12567	329	5	funds	fund	NOUN
cjfa-12567	329	6	,	,	PUNCT
cjfa-12567	329	7	traded	trade	VERB
cjfa-12567	329	8	via	via	ADP
cjfa-12567	329	9	stock	stock	NOUN
cjfa-12567	329	10	exchange	exchange	NOUN
cjfa-12567	329	11	with	with	ADP
cjfa-12567	329	12	ability	ability	NOUN
cjfa-12567	329	13	to	to	PART
cjfa-12567	329	14	outperform	outperform	VERB
cjfa-12567	329	15	traditionally	traditionally	ADV
cjfa-12567	329	16	weighted	weight	VERB
cjfa-12567	329	17	indices	index	NOUN
cjfa-12567	329	18	and	and	CCONJ
cjfa-12567	329	19	sometimes	sometimes	ADV
cjfa-12567	329	20	even	even	ADV
cjfa-12567	329	21	actively	actively	ADV
cjfa-12567	329	22	managed	manage	VERB
cjfa-12567	329	23	funds	fund	NOUN
cjfa-12567	329	24	,	,	PUNCT
cjfa-12567	329	25	revolutionized	revolutionize	VERB
cjfa-12567	329	26	asset	asset	NOUN
cjfa-12567	329	27	management	management	NOUN
cjfa-12567	329	28	business	business	NOUN
cjfa-12567	329	29	.	.	PUNCT
cjfa-12567	330	1	transparency	transparency	NOUN
cjfa-12567	330	2	of	of	ADP
cjfa-12567	330	3	etfs	etfs	PROPN
cjfa-12567	330	4	with	with	ADP
cjfa-12567	330	5	new	new	ADJ
cjfa-12567	330	6	,	,	PUNCT
cjfa-12567	330	7	quantitative	quantitative	ADJ
cjfa-12567	330	8	approach	approach	NOUN
cjfa-12567	330	9	to	to	ADP
cjfa-12567	330	10	stocks	stock	NOUN
cjfa-12567	330	11	selec3,12	selec3,12	PROPN
cjfa-12567	330	12	%	%	NOUN
cjfa-12567	330	13	2,04	2,04	NUM
cjfa-12567	330	14	%	%	NOUN
cjfa-12567	330	15	2,77	2,77	NUM
cjfa-12567	330	16	%	%	NOUN
cjfa-12567	330	17	2,48	2,48	NUM
cjfa-12567	330	18	%	%	NOUN
cjfa-12567	330	19	1,46	1,46	NUM
cjfa-12567	330	20	%	%	NOUN
cjfa-12567	330	21	5,70	5,70	NUM
cjfa-12567	330	22	%	%	NOUN
cjfa-12567	330	23	9,93	9,93	NUM
cjfa-12567	330	24	%	%	NOUN
cjfa-12567	330	25	1,50	1,50	NUM
cjfa-12567	330	26	%	%	NOUN
cjfa-12567	330	27	1,67%6,58	1,67%6,58	NUM
cjfa-12567	330	28	%	%	NOUN
cjfa-12567	330	29	5,80	5,80	NUM
cjfa-12567	330	30	%	%	NOUN
cjfa-12567	330	31	6,15	6,15	NUM
cjfa-12567	330	32	%	%	NOUN
cjfa-12567	330	33	12,02	12,02	NOUN
cjfa-12567	330	34	%	%	NOUN
cjfa-12567	330	35	12,19	12,19	NUM
cjfa-12567	330	36	%	%	NOUN
cjfa-12567	330	37	14,37	14,37	NUM
cjfa-12567	330	38	%	%	NOUN
cjfa-12567	330	39	2,50	2,50	NUM
cjfa-12567	330	40	%	%	NOUN
cjfa-12567	330	41	1,19	1,19	NUM
cjfa-12567	330	42	%	%	NOUN
cjfa-12567	330	43	1,99	1,99	NUM
cjfa-12567	330	44	%	%	NOUN
cjfa-12567	330	45	2,89	2,89	NUM
cjfa-12567	330	46	%	%	NOUN
cjfa-12567	330	47	3,68	3,68	NUM
cjfa-12567	330	48	%	%	NOUN
cjfa-12567	330	49	cps	cps	PROPN
cjfa-12567	330	50	opl	opl	PROPN
cjfa-12567	330	51	mbk	mbk	PROPN
cjfa-12567	330	52	acp	acp	PROPN
cjfa-12567	330	53	ena	ena	PROPN
cjfa-12567	330	54	bzw	bzw	PROPN
cjfa-12567	330	55	pzu	pzu	PROPN
cjfa-12567	330	56	lts	lts	PROPN
cjfa-12567	330	57	alr	alr	PROPN
cjfa-12567	330	58	kgh	kgh	PROPN
cjfa-12567	330	59	pgn	pgn	PROPN
cjfa-12567	330	60	pge	pge	NOUN
cjfa-12567	331	1	peo	peo	PROPN
cjfa-12567	331	2	pkn	pkn	PROPN
cjfa-12567	331	3	pko	pko	PROPN
cjfa-12567	331	4	eur	eur	PROPN
cjfa-12567	331	5	eng	eng	PROPN
cjfa-12567	331	6	tpe	tpe	PROPN
cjfa-12567	331	7	ccc	ccc	PROPN
cjfa-12567	331	8	lpp	lpp	PROPN
cjfa-12567	331	9	2,50	2,50	NUM
cjfa-12567	331	10	%	%	NOUN
cjfa-12567	331	11	22,89	22,89	NOUN
cjfa-12567	331	12	%	%	NOUN
cjfa-12567	331	13	23,96	23,96	NUM
cjfa-12567	331	14	%	%	NOUN
cjfa-12567	331	15	9,01	9,01	NUM
cjfa-12567	331	16	%	%	NOUN
cjfa-12567	331	17	12,73	12,73	NUM
cjfa-12567	331	18	%	%	NOUN
cjfa-12567	331	19	0,14	0,14	NUM
cjfa-12567	331	20	%	%	NOUN
cjfa-12567	331	21	11,02	11,02	NUM
cjfa-12567	331	22	%	%	NOUN
cjfa-12567	331	23	8,84	8,84	NUM
cjfa-12567	331	24	%	%	NOUN
cjfa-12567	331	25	2,58	2,58	NUM
cjfa-12567	331	26	%	%	NOUN
cjfa-12567	331	27	6,32	6,32	NUM
cjfa-12567	331	28	%	%	NOUN
cjfa-12567	331	29	alr	alr	PROPN
cjfa-12567	331	30	acp	acp	PROPN
cjfa-12567	331	31	cps	cps	PROPN
cjfa-12567	331	32	eur	eur	PROPN
cjfa-12567	331	33	lts	lts	PROPN
cjfa-12567	331	34	lpp	lpp	PROPN
cjfa-12567	331	35	mbk	mbk	PROPN
cjfa-12567	331	36	peo	peo	PROPN
cjfa-12567	331	37	pkn	pkn	PROPN
cjfa-12567	331	38	pko	pko	PROPN
cjfa-12567	331	39	s	s	PROPN
cjfa-12567	331	40	o	o	NOUN
cjfa-12567	331	41	u	u	NOUN
cjfa-12567	331	42	r	r	NOUN
cjfa-12567	331	43	c	c	NOUN
cjfa-12567	331	44	e	e	NOUN
cjfa-12567	331	45	:	:	PUNCT
cjfa-12567	331	46	author	author	NOUN
cjfa-12567	331	47	’s	’s	PART
cjfa-12567	331	48	elaboration	elaboration	NOUN
cjfa-12567	331	49	.	.	PUNCT
cjfa-12567	332	1	implementation	implementation	NOUN
cjfa-12567	332	2	of	of	ADP
cjfa-12567	332	3	alternative	alternative	ADJ
cjfa-12567	332	4	index	index	NOUN
cjfa-12567	332	5	weighting	weighting	NOUN
cjfa-12567	332	6	…	…	PUNCT
cjfa-12567	332	7	177	177	NUM
cjfa-12567	332	8	table	table	NOUN
cjfa-12567	332	9	3	3	NUM
cjfa-12567	332	10	.	.	PUNCT
cjfa-12567	332	11	annual	annual	ADJ
cjfa-12567	332	12	return	return	NOUN
cjfa-12567	332	13	rate	rate	NOUN
cjfa-12567	332	14	:	:	PUNCT
cjfa-12567	332	15	cap	cap	NOUN
cjfa-12567	332	16	vs.	vs.	X
cjfa-12567	332	17	gmv	gmv	PROPN
cjfa-12567	332	18	portfolio	portfolio	PROPN
cjfa-12567	332	19	annual	annual	ADJ
cjfa-12567	332	20	return	return	NOUN
cjfa-12567	332	21	annual	annual	ADJ
cjfa-12567	332	22	return	return	NOUN
cjfa-12567	332	23	difference	difference	NOUN
cjfa-12567	332	24	over	over	ADP
cjfa-12567	332	25	cap	cap	NOUN
cjfa-12567	332	26	-	-	PUNCT
cjfa-12567	332	27	weighting	weight	VERB
cjfa-12567	332	28	cap	cap	NOUN
cjfa-12567	332	29	-	-	PUNCT
cjfa-12567	332	30	weighted	weight	VERB
cjfa-12567	332	31	wig20	wig20	PROPN
cjfa-12567	332	32	-16,88	-16,88	ADP
cjfa-12567	332	33	%	%	X
cjfa-12567	332	34	gmv	gmv	ADV
cjfa-12567	332	35	-	-	PUNCT
cjfa-12567	332	36	weighted	weight	VERB
cjfa-12567	332	37	wig20	wig20	PROPN
cjfa-12567	332	38	+5,28	+5,28	PROPN
cjfa-12567	332	39	%	%	NOUN
cjfa-12567	332	40	22,16	22,16	NUM
cjfa-12567	332	41	%	%	NOUN
cjfa-12567	332	42	s	s	PART
cjfa-12567	332	43	o	o	NOUN
cjfa-12567	332	44	u	u	NOUN
cjfa-12567	332	45	r	r	NOUN
cjfa-12567	332	46	c	c	NOUN
cjfa-12567	332	47	e	e	NOUN
cjfa-12567	332	48	:	:	PUNCT
cjfa-12567	332	49	author	author	NOUN
cjfa-12567	332	50	’s	’s	PART
cjfa-12567	332	51	elaboration	elaboration	NOUN
cjfa-12567	332	52	.	.	PUNCT
cjfa-12567	333	1	the	the	DET
cjfa-12567	333	2	outcome	outcome	NOUN
cjfa-12567	333	3	of	of	ADP
cjfa-12567	333	4	the	the	DET
cjfa-12567	333	5	research	research	NOUN
cjfa-12567	333	6	process	process	NOUN
cjfa-12567	333	7	and	and	CCONJ
cjfa-12567	333	8	conclusions	conclusion	NOUN
cjfa-12567	333	9	the	the	DET
cjfa-12567	333	10	rapid	rapid	ADJ
cjfa-12567	333	11	growth	growth	NOUN
cjfa-12567	333	12	of	of	ADP
cjfa-12567	333	13	smart	smart	ADJ
cjfa-12567	333	14	beta	beta	ADJ
cjfa-12567	333	15	strategies	strategy	NOUN
cjfa-12567	333	16	along	along	ADP
cjfa-12567	333	17	with	with	ADP
cjfa-12567	333	18	democratization	democratization	NOUN
cjfa-12567	333	19	of	of	ADP
cjfa-12567	333	20	investing	investing	NOUN
cjfa-12567	333	21	brought	bring	VERB
cjfa-12567	333	22	by	by	ADP
cjfa-12567	333	23	etfs	etfs	PROPN
cjfa-12567	333	24	is	be	AUX
cjfa-12567	333	25	often	often	ADV
cjfa-12567	333	26	perceived	perceive	VERB
cjfa-12567	333	27	as	as	ADP
cjfa-12567	333	28	a	a	DET
cjfa-12567	333	29	threat	threat	NOUN
cjfa-12567	333	30	by	by	ADP
cjfa-12567	333	31	active	active	ADJ
cjfa-12567	333	32	asset	asset	NOUN
cjfa-12567	333	33	managers	manager	NOUN
cjfa-12567	333	34	.	.	PUNCT
cjfa-12567	334	1	cost	cost	VERB
cjfa-12567	334	2	effective	effective	ADJ
cjfa-12567	334	3	and	and	CCONJ
cjfa-12567	334	4	approachable	approachable	ADJ
cjfa-12567	334	5	funds	fund	NOUN
cjfa-12567	334	6	,	,	PUNCT
cjfa-12567	334	7	traded	trade	VERB
cjfa-12567	334	8	via	via	ADP
cjfa-12567	334	9	stock	stock	NOUN
cjfa-12567	334	10	exchange	exchange	NOUN
cjfa-12567	334	11	with	with	ADP
cjfa-12567	334	12	ability	ability	NOUN
cjfa-12567	334	13	to	to	PART
cjfa-12567	334	14	outperform	outperform	VERB
cjfa-12567	334	15	traditionally	traditionally	ADV
cjfa-12567	334	16	weighted	weight	VERB
cjfa-12567	334	17	indices	index	NOUN
cjfa-12567	334	18	and	and	CCONJ
cjfa-12567	334	19	sometimes	sometimes	ADV
cjfa-12567	334	20	even	even	ADV
cjfa-12567	334	21	actively	actively	ADV
cjfa-12567	334	22	managed	manage	VERB
cjfa-12567	334	23	funds	fund	NOUN
cjfa-12567	334	24	,	,	PUNCT
cjfa-12567	334	25	revolutionized	revolutionize	VERB
cjfa-12567	334	26	asset	asset	NOUN
cjfa-12567	334	27	management	management	NOUN
cjfa-12567	334	28	business	business	NOUN
cjfa-12567	334	29	.	.	PUNCT
cjfa-12567	335	1	transparency	transparency	NOUN
cjfa-12567	335	2	of	of	ADP
cjfa-12567	335	3	etfs	etfs	PROPN
cjfa-12567	335	4	with	with	ADP
cjfa-12567	335	5	new	new	ADJ
cjfa-12567	335	6	,	,	PUNCT
cjfa-12567	335	7	quantitative	quantitative	ADJ
cjfa-12567	335	8	approach	approach	NOUN
cjfa-12567	335	9	to	to	ADP
cjfa-12567	335	10	stocks	stock	NOUN
cjfa-12567	335	11	selection	selection	NOUN
cjfa-12567	335	12	is	be	AUX
cjfa-12567	335	13	far	far	ADV
cjfa-12567	335	14	from	from	ADP
cjfa-12567	335	15	classical	classical	ADJ
cjfa-12567	335	16	asset	asset	NOUN
cjfa-12567	335	17	management	management	NOUN
cjfa-12567	335	18	.	.	PUNCT
cjfa-12567	336	1	stocks	stock	NOUN
cjfa-12567	336	2	are	be	AUX
cjfa-12567	336	3	not	not	PART
cjfa-12567	336	4	selected	select	VERB
cjfa-12567	336	5	by	by	ADP
cjfa-12567	336	6	interviewing	interview	VERB
cjfa-12567	336	7	the	the	DET
cjfa-12567	336	8	management	management	NOUN
cjfa-12567	336	9	or	or	CCONJ
cjfa-12567	336	10	studying	study	VERB
cjfa-12567	336	11	prospectus	prospectus	NOUN
cjfa-12567	336	12	.	.	PUNCT
cjfa-12567	337	1	historical	historical	ADJ
cjfa-12567	337	2	data	datum	NOUN
cjfa-12567	337	3	is	be	AUX
cjfa-12567	337	4	analyzed	analyze	VERB
cjfa-12567	337	5	to	to	PART
cjfa-12567	337	6	redefine	redefine	VERB
cjfa-12567	337	7	relations	relation	NOUN
cjfa-12567	337	8	between	between	ADP
cjfa-12567	337	9	component	component	NOUN
cjfa-12567	337	10	asset	asset	NOUN
cjfa-12567	337	11	and	and	CCONJ
cjfa-12567	337	12	simple	simple	ADJ
cjfa-12567	337	13	questions	question	NOUN
cjfa-12567	337	14	are	be	AUX
cjfa-12567	337	15	being	be	AUX
cjfa-12567	337	16	asked	ask	VERB
cjfa-12567	337	17	.	.	PUNCT
cjfa-12567	338	1	fundamental	fundamental	ADJ
cjfa-12567	338	2	approach	approach	NOUN
cjfa-12567	338	3	wants	want	VERB
cjfa-12567	338	4	to	to	PART
cjfa-12567	338	5	know	know	VERB
cjfa-12567	338	6	:	:	PUNCT
cjfa-12567	338	7	how	how	SCONJ
cjfa-12567	338	8	big	big	ADJ
cjfa-12567	338	9	is	be	AUX
cjfa-12567	338	10	the	the	DET
cjfa-12567	338	11	company	company	NOUN
cjfa-12567	338	12	?	?	PUNCT
cjfa-12567	339	1	and	and	CCONJ
cjfa-12567	339	2	how	how	SCONJ
cjfa-12567	339	3	is	be	AUX
cjfa-12567	339	4	it	it	PRON
cjfa-12567	339	5	doing	do	VERB
cjfa-12567	339	6	so	so	ADV
cjfa-12567	339	7	far	far	ADV
cjfa-12567	339	8	?	?	PUNCT
cjfa-12567	340	1	to	to	PART
cjfa-12567	340	2	answer	answer	VERB
cjfa-12567	340	3	that	that	PRON
cjfa-12567	340	4	analysis	analysis	NOUN
cjfa-12567	340	5	of	of	ADP
cjfa-12567	340	6	major	major	ADJ
cjfa-12567	340	7	accounting	accounting	NOUN
cjfa-12567	340	8	measures	measure	NOUN
cjfa-12567	340	9	needs	need	VERB
cjfa-12567	340	10	to	to	PART
cjfa-12567	340	11	be	be	AUX
cjfa-12567	340	12	done	do	VERB
cjfa-12567	340	13	.	.	PUNCT
cjfa-12567	341	1	why	why	SCONJ
cjfa-12567	341	2	any	any	DET
cjfa-12567	341	3	asset	asset	NOUN
cjfa-12567	341	4	should	should	AUX
cjfa-12567	341	5	be	be	AUX
cjfa-12567	341	6	favored	favor	VERB
cjfa-12567	341	7	among	among	ADP
cjfa-12567	341	8	the	the	DET
cjfa-12567	341	9	others	other	NOUN
cjfa-12567	341	10	?	?	PUNCT
cjfa-12567	342	1	that	that	PRON
cjfa-12567	342	2	is	be	AUX
cjfa-12567	342	3	the	the	DET
cjfa-12567	342	4	question	question	NOUN
cjfa-12567	342	5	asked	ask	VERB
cjfa-12567	342	6	by	by	ADP
cjfa-12567	342	7	equally	equally	ADV
cjfa-12567	342	8	weighted	weighted	ADJ
cjfa-12567	342	9	portfolio	portfolio	NOUN
cjfa-12567	342	10	,	,	PUNCT
cjfa-12567	342	11	which	which	PRON
cjfa-12567	342	12	distributes	distribute	VERB
cjfa-12567	342	13	weights	weight	NOUN
cjfa-12567	342	14	equally	equally	ADV
cjfa-12567	342	15	among	among	ADP
cjfa-12567	342	16	all	all	DET
cjfa-12567	342	17	the	the	DET
cjfa-12567	342	18	component	component	NOUN
cjfa-12567	342	19	stocks	stock	NOUN
cjfa-12567	342	20	.	.	PUNCT
cjfa-12567	343	1	minimum	minimum	ADJ
cjfa-12567	343	2	variance	variance	NOUN
cjfa-12567	343	3	portfolio	portfolio	NOUN
cjfa-12567	343	4	is	be	AUX
cjfa-12567	343	5	the	the	DET
cjfa-12567	343	6	answer	answer	NOUN
cjfa-12567	343	7	for	for	ADP
cjfa-12567	343	8	the	the	DET
cjfa-12567	343	9	question	question	NOUN
cjfa-12567	343	10	:	:	PUNCT
cjfa-12567	343	11	how	how	SCONJ
cjfa-12567	343	12	to	to	PART
cjfa-12567	343	13	minimize	minimize	VERB
cjfa-12567	343	14	the	the	DET
cjfa-12567	343	15	risk	risk	NOUN
cjfa-12567	343	16	and	and	CCONJ
cjfa-12567	343	17	generate	generate	VERB
cjfa-12567	343	18	highest	high	ADJ
cjfa-12567	343	19	possible	possible	ADJ
cjfa-12567	343	20	return	return	NOUN
cjfa-12567	343	21	?	?	PUNCT
cjfa-12567	344	1	how	how	SCONJ
cjfa-12567	344	2	to	to	PART
cjfa-12567	344	3	optimize	optimize	VERB
cjfa-12567	344	4	risk	risk	NOUN
cjfa-12567	344	5	/	/	SYM
cjfa-12567	344	6	reward	reward	NOUN
cjfa-12567	344	7	ratio	ratio	NOUN
cjfa-12567	344	8	?	?	PUNCT
cjfa-12567	345	1	that	that	PRON
cjfa-12567	345	2	defines	define	VERB
cjfa-12567	345	3	maximum	maximum	ADJ
cjfa-12567	345	4	sharpie	sharpie	NOUN
cjfa-12567	345	5	ratio	ratio	NOUN
cjfa-12567	345	6	scheme	scheme	NOUN
cjfa-12567	345	7	(	(	PUNCT
cjfa-12567	345	8	arnott	arnott	PROPN
cjfa-12567	345	9	et	et	PROPN
cjfa-12567	345	10	al	al	PROPN
cjfa-12567	345	11	.	.	PROPN
cjfa-12567	345	12	,	,	PUNCT
cjfa-12567	345	13	2010	2010	NUM
cjfa-12567	345	14	)	)	PUNCT
cjfa-12567	345	15	.	.	PUNCT
cjfa-12567	346	1	all	all	DET
cjfa-12567	346	2	the	the	DET
cjfa-12567	346	3	four	four	NUM
cjfa-12567	346	4	described	describe	VERB
cjfa-12567	346	5	schemes	scheme	NOUN
cjfa-12567	346	6	have	have	VERB
cjfa-12567	346	7	different	different	ADJ
cjfa-12567	346	8	risk	risk	NOUN
cjfa-12567	346	9	/	/	SYM
cjfa-12567	346	10	return	return	NOUN
cjfa-12567	346	11	ratio	ratio	NOUN
cjfa-12567	346	12	and	and	CCONJ
cjfa-12567	346	13	different	different	ADJ
cjfa-12567	346	14	features	feature	NOUN
cjfa-12567	346	15	,	,	PUNCT
cjfa-12567	346	16	like	like	SCONJ
cjfa-12567	346	17	minimum	minimum	NOUN
cjfa-12567	346	18	variance	variance	NOUN
cjfa-12567	346	19	favors	favor	VERB
cjfa-12567	346	20	low	low	ADJ
cjfa-12567	346	21	beta	beta	ADJ
cjfa-12567	346	22	stocks	stock	NOUN
cjfa-12567	346	23	or	or	CCONJ
cjfa-12567	346	24	fundamental	fundamental	ADJ
cjfa-12567	346	25	weighting	weighting	NOUN
cjfa-12567	346	26	focuses	focus	VERB
cjfa-12567	346	27	on	on	ADP
cjfa-12567	346	28	highest	high	ADJ
cjfa-12567	346	29	value	value	NOUN
cjfa-12567	346	30	exposure	exposure	NOUN
cjfa-12567	346	31	.	.	PUNCT
cjfa-12567	347	1	graphical	graphical	ADJ
cjfa-12567	347	2	analysis	analysis	NOUN
cjfa-12567	347	3	allowed	allow	VERB
cjfa-12567	347	4	to	to	PART
cjfa-12567	347	5	compare	compare	VERB
cjfa-12567	347	6	impact	impact	NOUN
cjfa-12567	347	7	of	of	ADP
cjfa-12567	347	8	different	different	ADJ
cjfa-12567	347	9	schemes	scheme	NOUN
cjfa-12567	347	10	on	on	ADP
cjfa-12567	347	11	wig20	wig20	PROPN
cjfa-12567	347	12	index	index	NOUN
cjfa-12567	347	13	.	.	PUNCT
cjfa-12567	348	1	the	the	DET
cjfa-12567	348	2	results	result	NOUN
cjfa-12567	348	3	of	of	ADP
cjfa-12567	348	4	conducted	conduct	VERB
cjfa-12567	348	5	research	research	NOUN
cjfa-12567	348	6	support	support	NOUN
cjfa-12567	348	7	the	the	DET
cjfa-12567	348	8	hypothesis	hypothesis	NOUN
cjfa-12567	348	9	.	.	PUNCT
cjfa-12567	349	1	all	all	DET
cjfa-12567	349	2	the	the	DET
cjfa-12567	349	3	four	four	NUM
cjfa-12567	349	4	described	describe	VERB
cjfa-12567	349	5	schemes	scheme	NOUN
cjfa-12567	349	6	outperformed	outperform	VERB
cjfa-12567	349	7	wig20	wig20	PROPN
cjfa-12567	349	8	index	index	NOUN
cjfa-12567	349	9	.	.	PUNCT
cjfa-12567	350	1	analysis	analysis	NOUN
cjfa-12567	350	2	of	of	ADP
cjfa-12567	350	3	empirical	empirical	ADJ
cjfa-12567	350	4	data	datum	NOUN
cjfa-12567	350	5	in	in	ADP
cjfa-12567	350	6	this	this	DET
cjfa-12567	350	7	paper	paper	NOUN
cjfa-12567	350	8	definitely	definitely	ADV
cjfa-12567	350	9	proved	prove	VERB
cjfa-12567	350	10	that	that	SCONJ
cjfa-12567	350	11	cap	cap	NOUN
cjfa-12567	350	12	-	-	PUNCT
cjfa-12567	350	13	weighted	weight	VERB
cjfa-12567	350	14	wig20	wig20	PROPN
cjfa-12567	350	15	is	be	AUX
cjfa-12567	350	16	far	far	ADV
cjfa-12567	350	17	from	from	ADP
cjfa-12567	350	18	being	be	AUX
cjfa-12567	350	19	effective	effective	ADJ
cjfa-12567	350	20	.	.	PUNCT
cjfa-12567	351	1	exposure	exposure	NOUN
cjfa-12567	351	2	to	to	ADP
cjfa-12567	351	3	different	different	ADJ
cjfa-12567	351	4	factors	factor	NOUN
cjfa-12567	351	5	showed	show	VERB
cjfa-12567	351	6	how	how	SCONJ
cjfa-12567	351	7	traditional	traditional	ADJ
cjfa-12567	351	8	indices	index	NOUN
cjfa-12567	351	9	can	can	AUX
cjfa-12567	351	10	be	be	AUX
cjfa-12567	351	11	simply	simply	ADV
cjfa-12567	351	12	improved	improve	VERB
cjfa-12567	351	13	and	and	CCONJ
cjfa-12567	351	14	how	how	SCONJ
cjfa-12567	351	15	to	to	PART
cjfa-12567	351	16	eliminate	eliminate	VERB
cjfa-12567	351	17	common	common	ADJ
cjfa-12567	351	18	problems	problem	NOUN
cjfa-12567	351	19	of	of	ADP
cjfa-12567	351	20	cap	cap	NOUN
cjfa-12567	351	21	-	-	PUNCT
cjfa-12567	351	22	weighted	weight	VERB
cjfa-12567	351	23	indices	index	NOUN
cjfa-12567	351	24	.	.	PUNCT
cjfa-12567	352	1	each	each	DET
cjfa-12567	352	2	one	one	NUM
cjfa-12567	352	3	of	of	ADP
cjfa-12567	352	4	four	four	NUM
cjfa-12567	352	5	presented	present	VERB
cjfa-12567	352	6	alternatives	alternative	NOUN
cjfa-12567	352	7	provided	provide	VERB
cjfa-12567	352	8	a	a	DET
cjfa-12567	352	9	different	different	ADJ
cjfa-12567	352	10	solution	solution	NOUN
cjfa-12567	352	11	.	.	PUNCT
cjfa-12567	353	1	however	however	ADV
cjfa-12567	353	2	,	,	PUNCT
cjfa-12567	353	3	present	present	ADJ
cjfa-12567	353	4	research	research	NOUN
cjfa-12567	353	5	proves	prove	VERB
cjfa-12567	353	6	that	that	SCONJ
cjfa-12567	353	7	implementation	implementation	NOUN
cjfa-12567	353	8	of	of	ADP
cjfa-12567	353	9	alternative	alternative	ADJ
cjfa-12567	353	10	weighting	weighting	NOUN
cjfa-12567	353	11	schemes	scheme	NOUN
cjfa-12567	353	12	improves	improve	VERB
cjfa-12567	353	13	the	the	DET
cjfa-12567	353	14	performance	performance	NOUN
cjfa-12567	353	15	of	of	ADP
cjfa-12567	353	16	kamil	kamil	PROPN
cjfa-12567	353	17	nowak178	nowak178	PROPN
cjfa-12567	353	18	an	an	DET
cjfa-12567	353	19	index	index	NOUN
cjfa-12567	353	20	.	.	PUNCT
cjfa-12567	354	1	drawing	draw	VERB
cjfa-12567	354	2	the	the	DET
cjfa-12567	354	3	conclusions	conclusion	NOUN
cjfa-12567	354	4	from	from	ADP
cjfa-12567	354	5	this	this	DET
cjfa-12567	354	6	analysis	analysis	NOUN
cjfa-12567	354	7	and	and	CCONJ
cjfa-12567	354	8	reaching	reach	VERB
cjfa-12567	354	9	outside	outside	ADV
cjfa-12567	354	10	of	of	ADP
cjfa-12567	354	11	wig20	wig20	PROPN
cjfa-12567	354	12	,	,	PUNCT
cjfa-12567	354	13	alternative	alternative	ADJ
cjfa-12567	354	14	weighting	weight	VERB
cjfa-12567	354	15	schemes	scheme	NOUN
cjfa-12567	354	16	can	can	AUX
cjfa-12567	354	17	be	be	AUX
cjfa-12567	354	18	a	a	DET
cjfa-12567	354	19	great	great	ADJ
cjfa-12567	354	20	stock	stock	NOUN
cjfa-12567	354	21	selection	selection	NOUN
cjfa-12567	354	22	tool	tool	NOUN
cjfa-12567	354	23	and	and	CCONJ
cjfa-12567	354	24	with	with	ADP
cjfa-12567	354	25	a	a	DET
cjfa-12567	354	26	sufficient	sufficient	ADJ
cjfa-12567	354	27	data	datum	NOUN
cjfa-12567	354	28	and	and	CCONJ
cjfa-12567	354	29	resources	resource	NOUN
cjfa-12567	354	30	interesting	interesting	ADJ
cjfa-12567	354	31	index	index	NOUN
cjfa-12567	354	32	can	can	AUX
cjfa-12567	354	33	be	be	AUX
cjfa-12567	354	34	created	create	VERB
cjfa-12567	354	35	.	.	PUNCT
cjfa-12567	355	1	different	different	ADJ
cjfa-12567	355	2	investors	investor	NOUN
cjfa-12567	355	3	may	may	AUX
cjfa-12567	355	4	choose	choose	VERB
cjfa-12567	355	5	the	the	DET
cjfa-12567	355	6	alternative	alternative	NOUN
cjfa-12567	355	7	with	with	ADP
cjfa-12567	355	8	features	feature	NOUN
cjfa-12567	355	9	they	they	PRON
cjfa-12567	355	10	value	value	VERB
cjfa-12567	355	11	the	the	DET
cjfa-12567	355	12	most	most	ADV
cjfa-12567	355	13	or	or	CCONJ
cjfa-12567	355	14	combine	combine	VERB
cjfa-12567	355	15	the	the	DET
cjfa-12567	355	16	schemes	scheme	NOUN
cjfa-12567	355	17	to	to	PART
cjfa-12567	355	18	access	access	VERB
cjfa-12567	355	19	exposure	exposure	NOUN
cjfa-12567	355	20	to	to	ADP
cjfa-12567	355	21	the	the	DET
cjfa-12567	355	22	desired	desire	VERB
cjfa-12567	355	23	factors	factor	NOUN
cjfa-12567	355	24	in	in	ADP
cjfa-12567	355	25	the	the	DET
cjfa-12567	355	26	right	right	ADJ
cjfa-12567	355	27	proportions	proportion	NOUN
cjfa-12567	355	28	.	.	PUNCT
cjfa-12567	356	1	smart	smart	ADJ
cjfa-12567	356	2	beta	beta	ADJ
cjfa-12567	356	3	strategies	strategy	NOUN
cjfa-12567	356	4	might	might	AUX
cjfa-12567	356	5	be	be	AUX
cjfa-12567	356	6	also	also	ADV
cjfa-12567	356	7	beneficial	beneficial	ADJ
cjfa-12567	356	8	to	to	ADP
cjfa-12567	356	9	active	active	ADJ
cjfa-12567	356	10	managers	manager	NOUN
cjfa-12567	356	11	,	,	PUNCT
cjfa-12567	356	12	who	who	PRON
cjfa-12567	356	13	can	can	AUX
cjfa-12567	356	14	use	use	VERB
cjfa-12567	356	15	different	different	ADJ
cjfa-12567	356	16	,	,	PUNCT
cjfa-12567	356	17	alternative	alternative	ADJ
cjfa-12567	356	18	approaches	approach	NOUN
cjfa-12567	356	19	as	as	ADP
cjfa-12567	356	20	building	build	VERB
cjfa-12567	356	21	blocks	block	NOUN
cjfa-12567	356	22	to	to	PART
cjfa-12567	356	23	actively	actively	ADV
cjfa-12567	356	24	allocate	allocate	VERB
cjfa-12567	356	25	risk	risk	NOUN
cjfa-12567	356	26	and	and	CCONJ
cjfa-12567	356	27	get	get	VERB
cjfa-12567	356	28	desired	desire	VERB
cjfa-12567	356	29	factor	factor	NOUN
cjfa-12567	356	30	tilts	tilt	VERB
cjfa-12567	356	31	.	.	PUNCT
cjfa-12567	357	1	alternatives	alternative	NOUN
cjfa-12567	357	2	are	be	AUX
cjfa-12567	357	3	still	still	ADV
cjfa-12567	357	4	a	a	DET
cjfa-12567	357	5	hot	hot	ADJ
cjfa-12567	357	6	topic	topic	NOUN
cjfa-12567	357	7	and	and	CCONJ
cjfa-12567	357	8	considering	consider	VERB
cjfa-12567	357	9	the	the	DET
cjfa-12567	357	10	eternal	eternal	ADJ
cjfa-12567	357	11	battle	battle	NOUN
cjfa-12567	357	12	between	between	ADP
cjfa-12567	357	13	passive	passive	ADJ
cjfa-12567	357	14	and	and	CCONJ
cjfa-12567	357	15	active	active	ADJ
cjfa-12567	357	16	investing	investing	NOUN
cjfa-12567	357	17	,	,	PUNCT
cjfa-12567	357	18	the	the	DET
cjfa-12567	357	19	truth	truth	NOUN
cjfa-12567	357	20	may	may	AUX
cjfa-12567	357	21	lie	lie	VERB
cjfa-12567	357	22	in	in	ADP
cjfa-12567	357	23	the	the	DET
cjfa-12567	357	24	middle	middle	NOUN
cjfa-12567	357	25	.	.	PUNCT
cjfa-12567	358	1	for	for	ADP
cjfa-12567	358	2	over	over	ADP
cjfa-12567	358	3	fifty	fifty	NUM
cjfa-12567	358	4	years	year	NOUN
cjfa-12567	358	5	we	we	PRON
cjfa-12567	358	6	all	all	PRON
cjfa-12567	358	7	have	have	AUX
cjfa-12567	358	8	been	be	AUX
cjfa-12567	358	9	looking	look	VERB
cjfa-12567	358	10	for	for	ADP
cjfa-12567	358	11	alphas	alpha	NOUN
cjfa-12567	358	12	.	.	PUNCT
cjfa-12567	359	1	now	now	ADV
cjfa-12567	359	2	may	may	AUX
cjfa-12567	359	3	be	be	AUX
cjfa-12567	359	4	the	the	DET
cjfa-12567	359	5	time	time	NOUN
cjfa-12567	359	6	to	to	PART
cjfa-12567	359	7	stop	stop	VERB
cjfa-12567	359	8	chasing	chase	VERB
cjfa-12567	359	9	alphas	alpha	NOUN
cjfa-12567	359	10	and	and	CCONJ
cjfa-12567	359	11	focus	focus	VERB
cjfa-12567	359	12	on	on	ADP
cjfa-12567	359	13	improving	improve	VERB
cjfa-12567	359	14	the	the	DET
cjfa-12567	359	15	betas	beta	NOUN
cjfa-12567	359	16	.	.	PUNCT
cjfa-12567	359	17	 	 	SPACE
cjfa-12567	360	1	references	reference	NOUN
cjfa-12567	360	2	amenc	amenc	PROPN
cjfa-12567	360	3	,	,	PUNCT
cjfa-12567	360	4	n.	n.	NOUN
cjfa-12567	360	5	,	,	PUNCT
cjfa-12567	360	6	goltz	goltz	NOUN
cjfa-12567	360	7	,	,	PUNCT
cjfa-12567	360	8	f.	f.	PROPN
cjfa-12567	360	9	,	,	PUNCT
cjfa-12567	360	10	le	le	X
cjfa-12567	360	11	sourd	sourd	PROPN
cjfa-12567	360	12	,	,	PUNCT
cjfa-12567	360	13	v.	v.	PROPN
cjfa-12567	360	14	(	(	PUNCT
cjfa-12567	360	15	2008	2008	NUM
cjfa-12567	360	16	)	)	PUNCT
cjfa-12567	360	17	.	.	PUNCT
cjfa-12567	361	1	fundamental	fundamental	ADJ
cjfa-12567	361	2	differences	difference	NOUN
cjfa-12567	361	3	?	?	PUNCT
cjfa-12567	361	4	comparing	compare	VERB
cjfa-12567	361	5	alternative	alternative	ADJ
cjfa-12567	361	6	index	index	NOUN
cjfa-12567	361	7	weighting	weighting	NOUN
cjfa-12567	361	8	mechanisms	mechanism	NOUN
cjfa-12567	361	9	.	.	PUNCT
cjfa-12567	362	1	edhec	edhec	VERB
cjfa-12567	362	2	-	-	PUNCT
cjfa-12567	362	3	risk	risk	NOUN
cjfa-12567	362	4	institute	institute	NOUN
cjfa-12567	362	5	publication	publication	NOUN
cjfa-12567	362	6	.	.	PUNCT
cjfa-12567	363	1	amenc	amenc	PROPN
cjfa-12567	363	2	,	,	PUNCT
cjfa-12567	363	3	n.	n.	NOUN
cjfa-12567	363	4	,	,	PUNCT
cjfa-12567	363	5	goltz	goltz	NOUN
cjfa-12567	363	6	,	,	PUNCT
cjfa-12567	363	7	f.	f.	PROPN
cjfa-12567	363	8	,	,	PUNCT
cjfa-12567	363	9	martellini	martellini	PROPN
cjfa-12567	363	10	,	,	PUNCT
cjfa-12567	363	11	l.	l.	PROPN
cjfa-12567	363	12	,	,	PUNCT
cjfa-12567	363	13	retkovsky	retkovsky	NOUN
cjfa-12567	363	14	,	,	PUNCT
cjfa-12567	363	15	p.	p.	NOUN
cjfa-12567	363	16	(	(	PUNCT
cjfa-12567	363	17	2010	2010	NUM
cjfa-12567	363	18	)	)	PUNCT
cjfa-12567	363	19	.	.	PUNCT
cjfa-12567	364	1	efficient	efficient	ADJ
cjfa-12567	364	2	indexation	indexation	NOUN
cjfa-12567	364	3	:	:	PUNCT
cjfa-12567	364	4	an	an	DET
cjfa-12567	364	5	alternative	alternative	NOUN
cjfa-12567	364	6	to	to	ADP
cjfa-12567	364	7	cap	cap	NOUN
cjfa-12567	364	8	-	-	PUNCT
cjfa-12567	364	9	weighted	weight	VERB
cjfa-12567	364	10	indices	index	NOUN
cjfa-12567	364	11	.	.	PUNCT
cjfa-12567	365	1	edhec	edhec	VERB
cjfa-12567	365	2	-	-	PUNCT
cjfa-12567	365	3	risk	risk	NOUN
cjfa-12567	365	4	institute	institute	NOUN
cjfa-12567	365	5	publication	publication	NOUN
cjfa-12567	365	6	.	.	PUNCT
cjfa-12567	366	1	amenc	amenc	PROPN
cjfa-12567	366	2	,	,	PUNCT
cjfa-12567	366	3	n.	n.	NOUN
cjfa-12567	366	4	,	,	PUNCT
cjfa-12567	366	5	goltz	goltz	NOUN
cjfa-12567	366	6	,	,	PUNCT
cjfa-12567	366	7	f.	f.	PROPN
cjfa-12567	366	8	,	,	PUNCT
cjfa-12567	366	9	martellini	martellini	PROPN
cjfa-12567	366	10	,	,	PUNCT
cjfa-12567	366	11	l.	l.	PROPN
cjfa-12567	366	12	(	(	PUNCT
cjfa-12567	366	13	2013	2013	NUM
cjfa-12567	366	14	)	)	PUNCT
cjfa-12567	366	15	.	.	PUNCT
cjfa-12567	367	1	smart	smart	ADJ
cjfa-12567	367	2	beta	beta	ADJ
cjfa-12567	367	3	2.0	2.0	NUM
cjfa-12567	367	4	.	.	PUNCT
cjfa-12567	368	1	edhec	edhec	VERB
cjfa-12567	368	2	-	-	PUNCT
cjfa-12567	368	3	risk	risk	NOUN
cjfa-12567	368	4	institute	institute	NOUN
cjfa-12567	368	5	publication	publication	NOUN
cjfa-12567	368	6	.	.	PUNCT
cjfa-12567	369	1	ang	ang	PROPN
cjfa-12567	369	2	,	,	PUNCT
cjfa-12567	369	3	a.	a.	PROPN
cjfa-12567	369	4	,	,	PUNCT
cjfa-12567	369	5	hodrick	hodrick	PROPN
cjfa-12567	369	6	,	,	PUNCT
cjfa-12567	369	7	r.	r.	PROPN
cjfa-12567	369	8	,	,	PUNCT
cjfa-12567	369	9	xing	xing	PROPN
cjfa-12567	369	10	,	,	PUNCT
cjfa-12567	369	11	y.	y.	PROPN
cjfa-12567	369	12	,	,	PUNCT
cjfa-12567	369	13	&	&	CCONJ
cjfa-12567	369	14	zhang	zhang	PROPN
cjfa-12567	369	15	,	,	PUNCT
cjfa-12567	369	16	x.	x.	NOUN
cjfa-12567	369	17	(	(	PUNCT
cjfa-12567	369	18	2006	2006	NUM
cjfa-12567	369	19	)	)	PUNCT
cjfa-12567	369	20	.	.	PUNCT
cjfa-12567	370	1	the	the	DET
cjfa-12567	370	2	cross	cross	NOUN
cjfa-12567	370	3	-	-	NOUN
cjfa-12567	370	4	section	section	NOUN
cjfa-12567	370	5	of	of	ADP
cjfa-12567	370	6	volatility	volatility	NOUN
cjfa-12567	370	7	and	and	CCONJ
cjfa-12567	370	8	expected	expect	VERB
cjfa-12567	370	9	returns	return	NOUN
cjfa-12567	370	10	.	.	PUNCT
cjfa-12567	371	1	the	the	DET
cjfa-12567	371	2	journal	journal	PROPN
cjfa-12567	371	3	of	of	ADP
cjfa-12567	371	4	finance	finance	NOUN
cjfa-12567	371	5	,	,	PUNCT
cjfa-12567	371	6	61	61	NUM
cjfa-12567	371	7	(	(	PUNCT
cjfa-12567	371	8	1	1	NUM
cjfa-12567	371	9	)	)	PUNCT
cjfa-12567	371	10	.	.	PUNCT
cjfa-12567	372	1	doi	doi	NOUN
cjfa-12567	372	2	:	:	PUNCT
cjfa-12567	372	3	http://dx.doi.org/10.1111/	http://dx.doi.org/10.1111/	PROPN
cjfa-12567	372	4	j.1540	j.1540	PROPN
cjfa-12567	372	5	-	-	PUNCT
cjfa-12567	372	6	6261.2006.00836.x	6261.2006.00836.x	PROPN
cjfa-12567	372	7	.	.	PUNCT
cjfa-12567	373	1	arnott	arnott	PROPN
cjfa-12567	373	2	,	,	PUNCT
cjfa-12567	373	3	r.	r.	PROPN
cjfa-12567	373	4	,	,	PUNCT
cjfa-12567	373	5	kalesnik	kalesnik	NOUN
cjfa-12567	373	6	,	,	PUNCT
cjfa-12567	373	7	v.	v.	ADV
cjfa-12567	373	8	,	,	PUNCT
cjfa-12567	373	9	moghtader	moghtader	NOUN
cjfa-12567	373	10	,	,	PUNCT
cjfa-12567	373	11	p.	p.	PROPN
cjfa-12567	373	12	,	,	PUNCT
cjfa-12567	373	13	&	&	CCONJ
cjfa-12567	373	14	scholl	scholl	PROPN
cjfa-12567	373	15	,	,	PUNCT
cjfa-12567	373	16	c.	c.	PROPN
cjfa-12567	373	17	(	(	PUNCT
cjfa-12567	373	18	2010	2010	NUM
cjfa-12567	373	19	)	)	PUNCT
cjfa-12567	373	20	.	.	PUNCT
cjfa-12567	374	1	beyond	beyond	ADP
cjfa-12567	374	2	cap	cap	NOUN
cjfa-12567	374	3	weighting	weighting	NOUN
cjfa-12567	374	4	.	.	PUNCT
cjfa-12567	375	1	the	the	DET
cjfa-12567	375	2	empirical	empirical	ADJ
cjfa-12567	375	3	evidence	evidence	NOUN
cjfa-12567	375	4	for	for	ADP
cjfa-12567	375	5	a	a	DET
cjfa-12567	375	6	diversified	diversified	ADJ
cjfa-12567	375	7	beta	beta	NOUN
cjfa-12567	375	8	.	.	PUNCT
cjfa-12567	375	9	journal	journal	NOUN
cjfa-12567	375	10	of	of	ADP
cjfa-12567	375	11	indexes	index	NOUN
cjfa-12567	375	12	,	,	PUNCT
cjfa-12567	375	13	february	february	PROPN
cjfa-12567	375	14	2010	2010	NUM
cjfa-12567	375	15	.	.	PUNCT
cjfa-12567	376	1	autier	autier	PROPN
cjfa-12567	376	2	,	,	PUNCT
cjfa-12567	376	3	b.	b.	PROPN
cjfa-12567	376	4	,	,	PUNCT
cjfa-12567	376	5	mcglone	mcglone	NOUN
cjfa-12567	376	6	,	,	PUNCT
cjfa-12567	376	7	m.	m.	NOUN
cjfa-12567	376	8	,	,	PUNCT
cjfa-12567	376	9	channig	channig	PROPN
cjfa-12567	376	10	,	,	PUNCT
cjfa-12567	376	11	a.	a.	NOUN
cjfa-12567	376	12	(	(	PUNCT
cjfa-12567	376	13	2016	2016	NUM
cjfa-12567	376	14	)	)	PUNCT
cjfa-12567	376	15	.	.	PUNCT
cjfa-12567	377	1	smart	smart	ADJ
cjfa-12567	377	2	beta	beta	ADJ
cjfa-12567	377	3	2.0	2.0	NUM
cjfa-12567	377	4	.	.	PUNCT
cjfa-12567	378	1	bringing	bring	VERB
cjfa-12567	378	2	clarity	clarity	NOUN
cjfa-12567	378	3	to	to	PART
cjfa-12567	378	4	equity	equity	NOUN
cjfa-12567	378	5	smart	smart	ADJ
cjfa-12567	378	6	beta	beta	NOUN
cjfa-12567	378	7	.	.	PUNCT
cjfa-12567	379	1	etf	etf	NOUN
cjfa-12567	379	2	securities	securities	PROPN
cjfa-12567	379	3	.	.	PUNCT
cjfa-12567	380	1	blitz	blitz	PROPN
cjfa-12567	380	2	,	,	PUNCT
cjfa-12567	380	3	d.	d.	PROPN
cjfa-12567	380	4	,	,	PUNCT
cjfa-12567	380	5	&	&	CCONJ
cjfa-12567	380	6	van	van	PROPN
cjfa-12567	380	7	vilet	vilet	NOUN
cjfa-12567	380	8	,	,	PUNCT
cjfa-12567	380	9	p.	p.	NOUN
cjfa-12567	380	10	(	(	PUNCT
cjfa-12567	380	11	2007	2007	NUM
cjfa-12567	380	12	)	)	PUNCT
cjfa-12567	380	13	.	.	PUNCT
cjfa-12567	381	1	the	the	DET
cjfa-12567	381	2	volatility	volatility	NOUN
cjfa-12567	381	3	effect	effect	NOUN
cjfa-12567	381	4	:	:	PUNCT
cjfa-12567	381	5	lower	low	ADJ
cjfa-12567	381	6	risk	risk	NOUN
cjfa-12567	381	7	without	without	ADP
cjfa-12567	381	8	lower	low	ADJ
cjfa-12567	381	9	return	return	NOUN
cjfa-12567	381	10	.	.	PUNCT
cjfa-12567	382	1	journal	journal	NOUN
cjfa-12567	382	2	of	of	ADP
cjfa-12567	382	3	portfolio	portfolio	NOUN
cjfa-12567	382	4	management	management	NOUN
cjfa-12567	382	5	,	,	PUNCT
cjfa-12567	382	6	102–113	102–113	NUM
cjfa-12567	382	7	.	.	PUNCT
cjfa-12567	383	1	doi	doi	NOUN
cjfa-12567	383	2	:	:	PUNCT
cjfa-12567	383	3	http://dx.doi.org/10.3905/	http://dx.doi.org/10.3905/	PROPN
cjfa-12567	383	4	jpm.2007.698039	jpm.2007.698039	PROPN
cjfa-12567	383	5	.	.	PUNCT
cjfa-12567	384	1	carhart	carhart	NOUN
cjfa-12567	384	2	,	,	PUNCT
cjfa-12567	384	3	m.	m.	NOUN
cjfa-12567	384	4	(	(	PUNCT
cjfa-12567	384	5	1997	1997	NUM
cjfa-12567	384	6	)	)	PUNCT
cjfa-12567	384	7	.	.	PUNCT
cjfa-12567	385	1	on	on	ADP
cjfa-12567	385	2	persistence	persistence	NOUN
cjfa-12567	385	3	in	in	ADP
cjfa-12567	385	4	mutual	mutual	ADJ
cjfa-12567	385	5	fund	fund	NOUN
cjfa-12567	385	6	performance	performance	NOUN
cjfa-12567	385	7	.	.	PUNCT
cjfa-12567	386	1	the	the	DET
cjfa-12567	386	2	journal	journal	PROPN
cjfa-12567	386	3	of	of	ADP
cjfa-12567	386	4	finance	finance	NOUN
cjfa-12567	386	5	,	,	PUNCT
cjfa-12567	386	6	52	52	NUM
cjfa-12567	386	7	,	,	PUNCT
cjfa-12567	386	8	57–82	57–82	NUM
cjfa-12567	386	9	.	.	PUNCT
cjfa-12567	386	10	doi	doi	NOUN
cjfa-12567	386	11	:	:	PUNCT
cjfa-12567	386	12	http://dx.doi.org/10.1111/j.1540-6261.1997.tb03808.x	http://dx.doi.org/10.1111/j.1540-6261.1997.tb03808.x	PROPN
cjfa-12567	386	13	.	.	PUNCT
cjfa-12567	387	1	fama	fama	PROPN
cjfa-12567	387	2	,	,	PUNCT
cjfa-12567	387	3	e.f	e.f	PROPN
cjfa-12567	387	4	.	.	PROPN
cjfa-12567	387	5	,	,	PUNCT
cjfa-12567	387	6	&	&	CCONJ
cjfa-12567	387	7	french	french	PROPN
cjfa-12567	387	8	,	,	PUNCT
cjfa-12567	387	9	k.r	k.r	PROPN
cjfa-12567	387	10	.	.	PROPN
cjfa-12567	387	11	(	(	PUNCT
cjfa-12567	387	12	1993	1993	NUM
cjfa-12567	387	13	)	)	PUNCT
cjfa-12567	387	14	.	.	PUNCT
cjfa-12567	388	1	common	common	ADJ
cjfa-12567	388	2	risk	risk	NOUN
cjfa-12567	388	3	factors	factor	NOUN
cjfa-12567	388	4	in	in	ADP
cjfa-12567	388	5	the	the	DET
cjfa-12567	388	6	returns	return	NOUN
cjfa-12567	388	7	on	on	ADP
cjfa-12567	388	8	stocks	stock	NOUN
cjfa-12567	388	9	and	and	CCONJ
cjfa-12567	388	10	bonds	bond	NOUN
cjfa-12567	388	11	.	.	PUNCT
cjfa-12567	389	1	journal	journal	NOUN
cjfa-12567	389	2	of	of	ADP
cjfa-12567	389	3	financial	financial	ADJ
cjfa-12567	389	4	economics	economic	NOUN
cjfa-12567	389	5	,	,	PUNCT
cjfa-12567	389	6	33	33	NUM
cjfa-12567	389	7	,	,	PUNCT
cjfa-12567	389	8	3	3	NUM
cjfa-12567	389	9	.	.	X
cjfa-12567	389	10	doi	doi	NOUN
cjfa-12567	389	11	:	:	PUNCT
cjfa-12567	389	12	http://dx.doi.org/10.1016/0304405x(93)90023-5	http://dx.doi.org/10.1016/0304405x(93)90023-5	PROPN
cjfa-12567	389	13	.	.	PUNCT
cjfa-12567	389	14	goltz	goltz	PROPN
cjfa-12567	389	15	,	,	PUNCT
cjfa-12567	389	16	f.	f.	PROPN
cjfa-12567	389	17	,	,	PUNCT
cjfa-12567	389	18	&	&	CCONJ
cjfa-12567	389	19	le	le	X
cjfa-12567	389	20	sourd	sourd	PROPN
cjfa-12567	389	21	,	,	PUNCT
cjfa-12567	389	22	v.	v.	PROPN
cjfa-12567	389	23	(	(	PUNCT
cjfa-12567	389	24	2010	2010	NUM
cjfa-12567	389	25	)	)	PUNCT
cjfa-12567	389	26	.	.	PUNCT
cjfa-12567	390	1	does	do	AUX
cjfa-12567	390	2	finance	finance	NOUN
cjfa-12567	390	3	theory	theory	NOUN
cjfa-12567	390	4	make	make	VERB
cjfa-12567	390	5	the	the	DET
cjfa-12567	390	6	case	case	NOUN
cjfa-12567	390	7	for	for	ADP
cjfa-12567	390	8	capitalisationweighted	capitalisationweighte	VERB
cjfa-12567	390	9	indexing	indexing	NOUN
cjfa-12567	390	10	?	?	PUNCT
cjfa-12567	391	1	edhec	edhec	VERB
cjfa-12567	391	2	-	-	PUNCT
cjfa-12567	391	3	risk	risk	NOUN
cjfa-12567	391	4	institute	institute	NOUN
cjfa-12567	391	5	publication	publication	NOUN
cjfa-12567	391	6	.	.	PUNCT
cjfa-12567	392	1	hill	hill	PROPN
cjfa-12567	392	2	,	,	PUNCT
cjfa-12567	392	3	j.	j.	PROPN
cjfa-12567	392	4	,	,	PUNCT
cjfa-12567	392	5	nadig	nadig	PROPN
cjfa-12567	392	6	,	,	PUNCT
cjfa-12567	392	7	d.	d.	PROPN
cjfa-12567	392	8	,	,	PUNCT
cjfa-12567	392	9	hougan	hougan	NOUN
cjfa-12567	392	10	,	,	PUNCT
cjfa-12567	392	11	m.	m.	NOUN
cjfa-12567	392	12	(	(	PUNCT
cjfa-12567	392	13	2015	2015	NUM
cjfa-12567	392	14	)	)	PUNCT
cjfa-12567	392	15	.	.	PUNCT
cjfa-12567	393	1	a	a	DET
cjfa-12567	393	2	comprehensive	comprehensive	ADJ
cjfa-12567	393	3	guide	guide	NOUN
cjfa-12567	393	4	to	to	ADP
cjfa-12567	393	5	exchange	exchange	NOUN
cjfa-12567	393	6	-	-	PUNCT
cjfa-12567	393	7	traded	trade	VERB
cjfa-12567	393	8	funds	fund	NOUN
cjfa-12567	393	9	(	(	PUNCT
cjfa-12567	393	10	etfs	etfs	PROPN
cjfa-12567	393	11	)	)	PUNCT
cjfa-12567	393	12	.	.	PUNCT
cjfa-12567	394	1	cfa	cfa	PROPN
cjfa-12567	394	2	institute	institute	PROPN
cjfa-12567	394	3	.	.	PUNCT
cjfa-12567	395	1	jajuga	jajuga	PROPN
cjfa-12567	395	2	,	,	PUNCT
cjfa-12567	395	3	k.	k.	PROPN
cjfa-12567	395	4	,	,	PUNCT
cjfa-12567	395	5	jajuga	jajuga	PROPN
cjfa-12567	395	6	,	,	PUNCT
cjfa-12567	395	7	t.	t.	PROPN
cjfa-12567	395	8	(	(	PUNCT
cjfa-12567	395	9	2004	2004	NUM
cjfa-12567	395	10	)	)	PUNCT
cjfa-12567	395	11	.	.	PUNCT
cjfa-12567	396	1	inwestycje	inwestycje	PROPN
cjfa-12567	396	2	:	:	PUNCT
cjfa-12567	396	3	instrumenty	instrumenty	PROPN
cjfa-12567	396	4	finansowe	finansowe	PROPN
cjfa-12567	396	5	,	,	PUNCT
cjfa-12567	396	6	ryzyko	ryzyko	NOUN
cjfa-12567	396	7	finansowe	finansowe	PROPN
cjfa-12567	396	8	,	,	PUNCT
cjfa-12567	396	9	inżynieria	inżynieria	PROPN
cjfa-12567	396	10	finansowa	finansowa	PROPN
cjfa-12567	396	11	.	.	PUNCT
cjfa-12567	397	1	warszawa	warszawa	PROPN
cjfa-12567	397	2	:	:	PUNCT
cjfa-12567	397	3	wydawnictw	wydawnictw	PROPN
cjfa-12567	397	4	naukowe	naukowe	PROPN
cjfa-12567	397	5	pwn	pwn	PROPN
cjfa-12567	397	6	.	.	PUNCT
cjfa-12567	398	1	implementation	implementation	NOUN
cjfa-12567	398	2	of	of	ADP
cjfa-12567	398	3	alternative	alternative	ADJ
cjfa-12567	398	4	index	index	NOUN
cjfa-12567	398	5	weighting	weighting	NOUN
cjfa-12567	398	6	…	…	PUNCT
cjfa-12567	398	7	179	179	NUM
cjfa-12567	398	8	malkiel	malkiel	ADJ
cjfa-12567	398	9	,	,	PUNCT
cjfa-12567	398	10	b.	b.	PROPN
cjfa-12567	398	11	(	(	PUNCT
cjfa-12567	398	12	2011	2011	NUM
cjfa-12567	398	13	)	)	PUNCT
cjfa-12567	398	14	.	.	PUNCT
cjfa-12567	399	1	a	a	DET
cjfa-12567	399	2	random	random	ADJ
cjfa-12567	399	3	walk	walk	NOUN
cjfa-12567	399	4	down	down	ADP
cjfa-12567	399	5	wall	wall	PROPN
cjfa-12567	399	6	street	street	PROPN
cjfa-12567	399	7	.	.	PUNCT
cjfa-12567	400	1	the	the	DET
cjfa-12567	400	2	best	good	ADJ
cjfa-12567	400	3	investment	investment	NOUN
cjfa-12567	400	4	tactic	tactic	NOUN
cjfa-12567	400	5	for	for	ADP
cjfa-12567	400	6	the	the	DET
cjfa-12567	400	7	new	new	ADJ
cjfa-12567	400	8	century	century	NOUN
cjfa-12567	400	9	,	,	PUNCT
cjfa-12567	400	10	norton	norton	PROPN
cjfa-12567	400	11	&	&	CCONJ
cjfa-12567	400	12	company	company	PROPN
cjfa-12567	400	13	.	.	PUNCT
cjfa-12567	401	1	markowitz	markowitz	PROPN
cjfa-12567	401	2	,	,	PUNCT
cjfa-12567	401	3	h.	h.	PROPN
cjfa-12567	401	4	(	(	PUNCT
cjfa-12567	401	5	1952	1952	NUM
cjfa-12567	401	6	)	)	PUNCT
cjfa-12567	401	7	.	.	PUNCT
cjfa-12567	402	1	portfolio	portfolio	NOUN
cjfa-12567	402	2	selection	selection	NOUN
cjfa-12567	402	3	.	.	PUNCT
cjfa-12567	403	1	the	the	DET
cjfa-12567	403	2	journal	journal	PROPN
cjfa-12567	403	3	of	of	ADP
cjfa-12567	403	4	finance	finance	NOUN
cjfa-12567	403	5	,	,	PUNCT
cjfa-12567	403	6	7	7	NUM
cjfa-12567	403	7	(	(	PUNCT
cjfa-12567	403	8	1	1	NUM
cjfa-12567	403	9	)	)	PUNCT
cjfa-12567	403	10	,	,	PUNCT
cjfa-12567	403	11	77–91	77–91	NUM
cjfa-12567	403	12	.	.	PUNCT
cjfa-12567	404	1	doi	doi	NOUN
cjfa-12567	404	2	:	:	PUNCT
cjfa-12567	404	3	http://dx.doi.org/10.1111/j.1540-6261.1952.tb01525.x	http://dx.doi.org/10.1111/j.1540-6261.1952.tb01525.x	PROPN
cjfa-12567	404	4	.	.	PUNCT
cjfa-12567	405	1	sharpe	sharpe	PROPN
cjfa-12567	405	2	,	,	PUNCT
cjfa-12567	405	3	w.	w.	PROPN
cjfa-12567	405	4	f.	f.	PROPN
cjfa-12567	405	5	(	(	PUNCT
cjfa-12567	405	6	1966	1966	NUM
cjfa-12567	405	7	)	)	PUNCT
cjfa-12567	405	8	.	.	PUNCT
cjfa-12567	406	1	mutual	mutual	ADJ
cjfa-12567	406	2	fund	fund	NOUN
cjfa-12567	406	3	performance	performance	NOUN
cjfa-12567	406	4	.	.	PUNCT
cjfa-12567	407	1	journal	journal	NOUN
cjfa-12567	407	2	of	of	ADP
cjfa-12567	407	3	business	business	NOUN
cjfa-12567	407	4	,	,	PUNCT
cjfa-12567	407	5	39	39	NUM
cjfa-12567	407	6	(	(	PUNCT
cjfa-12567	407	7	s1	s1	NOUN
cjfa-12567	407	8	)	)	PUNCT
cjfa-12567	407	9	,	,	PUNCT
cjfa-12567	407	10	119–138	119–138	NUM
cjfa-12567	407	11	.	.	PUNCT
cjfa-12567	408	1	doi	doi	NOUN
cjfa-12567	408	2	:	:	PUNCT
cjfa-12567	408	3	http://dx.doi.org/10.1086/294846	http://dx.doi.org/10.1086/294846	NOUN
cjfa-12567	408	4	.	.	PUNCT
cjfa-12567	409	1	shores	shore	NOUN
cjfa-12567	409	2	,	,	PUNCT
cjfa-12567	409	3	s.	s.	PROPN
cjfa-12567	409	4	(	(	PUNCT
cjfa-12567	409	5	2015	2015	NUM
cjfa-12567	409	6	)	)	PUNCT
cjfa-12567	409	7	.	.	PUNCT
cjfa-12567	410	1	smart	smart	ADJ
cjfa-12567	410	2	beta	beta	NOUN
cjfa-12567	410	3	:	:	PUNCT
cjfa-12567	410	4	defining	define	VERB
cjfa-12567	410	5	the	the	DET
cjfa-12567	410	6	opportunity	opportunity	NOUN
cjfa-12567	410	7	and	and	CCONJ
cjfa-12567	410	8	solutions	solution	NOUN
cjfa-12567	410	9	.	.	PUNCT
cjfa-12567	411	1	blackrock	blackrock	PROPN
cjfa-12567	411	2	.	.	PUNCT
cjfa-12567	412	1	www.etfgi.com	www.etfgi.com	PROPN
cjfa-12567	413	1	(	(	PUNCT
cjfa-12567	413	2	accessed	access	VERB
cjfa-12567	413	3	:	:	PUNCT
cjfa-12567	413	4	24.07.2016	24.07.2016	NUM
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cjfa-12567	413	6	.	.	PUNCT
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cjfa-12567	414	2	(	(	PUNCT
cjfa-12567	414	3	accessed	access	VERB
cjfa-12567	414	4	:	:	PUNCT
cjfa-12567	414	5	24.07.2016	24.07.2016	NUM
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cjfa-12567	414	7	.	.	PUNCT