id	sid	tid	token	lemma	pos
fsr-3373	1	1	portfolio	portfolio	NOUN
fsr-3373	1	2	insurance	insurance	NOUN
fsr-3373	1	3	using	use	VERB
fsr-3373	1	4	leveraged	leveraged	ADJ
fsr-3373	1	5	etfs	etfs	NOUN
fsr-3373	1	6	jeffrey	jeffrey	PROPN
fsr-3373	1	7	georgea	georgea	PROPN
fsr-3373	1	8	,	,	PUNCT
fsr-3373	1	9	william	william	PROPN
fsr-3373	1	10	j.	j.	PROPN
fsr-3373	1	11	trainor	trainor	PROPN
fsr-3373	1	12	,	,	PUNCT
fsr-3373	1	13	jr.a	jr.a	PROPN
fsr-3373	1	14	,	,	PUNCT
fsr-3373	1	15	*	*	PUNCT
fsr-3373	1	16	adepartment	adepartment	NOUN
fsr-3373	1	17	of	of	ADP
fsr-3373	1	18	economics	economic	NOUN
fsr-3373	1	19	and	and	CCONJ
fsr-3373	1	20	finance	finance	NOUN
fsr-3373	1	21	,	,	PUNCT
fsr-3373	1	22	east	east	PROPN
fsr-3373	1	23	tennessee	tennessee	PROPN
fsr-3373	1	24	state	state	PROPN
fsr-3373	1	25	university	university	PROPN
fsr-3373	1	26	,	,	PUNCT
fsr-3373	1	27	box	box	NOUN
fsr-3373	1	28	70686	70686	NUM
fsr-3373	1	29	,	,	PUNCT
fsr-3373	1	30	johnson	johnson	PROPN
fsr-3373	1	31	city	city	PROPN
fsr-3373	1	32	,	,	PUNCT
fsr-3373	1	33	tn	tn	PROPN
fsr-3373	1	34	37614	37614	NUM
fsr-3373	1	35	,	,	PUNCT
fsr-3373	1	36	usa	usa	PROPN
fsr-3373	1	37	abstract	abstract	PROPN
fsr-3373	1	38	this	this	DET
fsr-3373	1	39	study	study	NOUN
fsr-3373	1	40	examines	examine	VERB
fsr-3373	1	41	the	the	DET
fsr-3373	1	42	use	use	NOUN
fsr-3373	1	43	of	of	ADP
fsr-3373	1	44	leveraged	leveraged	ADJ
fsr-3373	1	45	exchange	exchange	NOUN
fsr-3373	1	46	traded	trade	VERB
fsr-3373	1	47	funds	fund	NOUN
fsr-3373	1	48	(	(	PUNCT
fsr-3373	1	49	letfs	letfs	PROPN
fsr-3373	1	50	)	)	PUNCT
fsr-3373	1	51	within	within	ADP
fsr-3373	1	52	a	a	DET
fsr-3373	1	53	constant	constant	ADJ
fsr-3373	1	54	proportional	proportional	ADJ
fsr-3373	1	55	portfolio	portfolio	NOUN
fsr-3373	1	56	insurance	insurance	NOUN
fsr-3373	1	57	(	(	PUNCT
fsr-3373	1	58	cppi	cppi	NOUN
fsr-3373	1	59	)	)	PUNCT
fsr-3373	1	60	strategy	strategy	NOUN
fsr-3373	1	61	.	.	PUNCT
fsr-3373	2	1	the	the	DET
fsr-3373	2	2	advantage	advantage	NOUN
fsr-3373	2	3	of	of	ADP
fsr-3373	2	4	using	use	VERB
fsr-3373	2	5	letfs	letfs	NOUN
fsr-3373	2	6	in	in	ADP
fsr-3373	2	7	such	such	DET
fsr-3373	2	8	a	a	DET
fsr-3373	2	9	strategy	strategy	NOUN
fsr-3373	2	10	is	be	AUX
fsr-3373	2	11	that	that	SCONJ
fsr-3373	2	12	it	it	PRON
fsr-3373	2	13	allows	allow	VERB
fsr-3373	2	14	a	a	DET
fsr-3373	2	15	greater	great	ADJ
fsr-3373	2	16	percentage	percentage	NOUN
fsr-3373	2	17	of	of	ADP
fsr-3373	2	18	the	the	DET
fsr-3373	2	19	portfolio	portfolio	NOUN
fsr-3373	2	20	to	to	PART
fsr-3373	2	21	be	be	AUX
fsr-3373	2	22	invested	invest	VERB
fsr-3373	2	23	in	in	ADP
fsr-3373	2	24	the	the	DET
fsr-3373	2	25	risk	risk	NOUN
fsr-3373	2	26	-	-	PUNCT
fsr-3373	2	27	free	free	ADJ
fsr-3373	2	28	rate	rate	NOUN
fsr-3373	2	29	relative	relative	ADJ
fsr-3373	2	30	to	to	ADP
fsr-3373	2	31	a	a	DET
fsr-3373	2	32	traditional	traditional	ADJ
fsr-3373	2	33	cppi	cppi	NOUN
fsr-3373	2	34	.	.	PUNCT
fsr-3373	3	1	where	where	SCONJ
fsr-3373	3	2	a	a	DET
fsr-3373	3	3	standard	standard	ADJ
fsr-3373	3	4	cppi	cppi	NOUN
fsr-3373	3	5	strategy	strategy	NOUN
fsr-3373	3	6	may	may	AUX
fsr-3373	3	7	require	require	VERB
fsr-3373	3	8	50	50	NUM
fsr-3373	3	9	%	%	NOUN
fsr-3373	3	10	of	of	ADP
fsr-3373	3	11	the	the	DET
fsr-3373	3	12	portfolio	portfolio	NOUN
fsr-3373	3	13	to	to	PART
fsr-3373	3	14	be	be	AUX
fsr-3373	3	15	invested	invest	VERB
fsr-3373	3	16	in	in	ADP
fsr-3373	3	17	equities	equity	NOUN
fsr-3373	3	18	,	,	PUNCT
fsr-3373	3	19	using	use	VERB
fsr-3373	3	20	a	a	DET
fsr-3373	3	21	2x	2x	NUM
fsr-3373	3	22	letf	letf	ADJ
fsr-3373	3	23	only	only	ADV
fsr-3373	3	24	requires	require	VERB
fsr-3373	3	25	25	25	NUM
fsr-3373	3	26	%	%	NOUN
fsr-3373	3	27	,	,	PUNCT
fsr-3373	3	28	and	and	CCONJ
fsr-3373	3	29	a	a	DET
fsr-3373	3	30	3x	3x	NUM
fsr-3373	3	31	letf	letf	NOUN
fsr-3373	3	32	only	only	ADV
fsr-3373	3	33	requires	require	VERB
fsr-3373	3	34	16.7	16.7	NUM
fsr-3373	3	35	%	%	NOUN
fsr-3373	3	36	to	to	PART
fsr-3373	3	37	attain	attain	VERB
fsr-3373	3	38	the	the	DET
fsr-3373	3	39	same	same	ADJ
fsr-3373	3	40	effective	effective	ADJ
fsr-3373	3	41	exposure	exposure	NOUN
fsr-3373	3	42	to	to	ADP
fsr-3373	3	43	equities	equity	NOUN
fsr-3373	3	44	.	.	PUNCT
fsr-3373	4	1	results	result	NOUN
fsr-3373	4	2	show	show	VERB
fsr-3373	4	3	when	when	SCONJ
fsr-3373	4	4	the	the	DET
fsr-3373	4	5	risk	risk	NOUN
fsr-3373	4	6	-	-	PUNCT
fsr-3373	4	7	free	free	ADJ
fsr-3373	4	8	asset	asset	NOUN
fsr-3373	4	9	is	be	AUX
fsr-3373	4	10	yielding	yield	VERB
fsr-3373	4	11	at	at	ADV
fsr-3373	4	12	least	least	ADV
fsr-3373	4	13	3	3	NUM
fsr-3373	4	14	%	%	NOUN
fsr-3373	4	15	or	or	CCONJ
fsr-3373	4	16	the	the	DET
fsr-3373	4	17	1	1	NUM
fsr-3373	4	18	year	year	NOUN
fsr-3373	4	19	minus	minus	CCONJ
fsr-3373	4	20	90	90	NUM
fsr-3373	4	21	-	-	PUNCT
fsr-3373	4	22	day	day	NOUN
fsr-3373	4	23	treasury	treasury	NOUN
fsr-3373	4	24	exceeds	exceed	VERB
fsr-3373	4	25	1	1	NUM
fsr-3373	4	26	%	%	NOUN
fsr-3373	4	27	,	,	PUNCT
fsr-3373	4	28	the	the	DET
fsr-3373	4	29	use	use	NOUN
fsr-3373	4	30	of	of	ADP
fsr-3373	4	31	letfs	letfs	PROPN
fsr-3373	4	32	within	within	ADP
fsr-3373	4	33	a	a	DET
fsr-3373	4	34	cppi	cppi	NOUN
fsr-3373	4	35	framework	framework	NOUN
fsr-3373	4	36	results	result	NOUN
fsr-3373	4	37	in	in	ADP
fsr-3373	4	38	annual	annual	ADJ
fsr-3373	4	39	returns	return	NOUN
fsr-3373	4	40	approximately	approximately	ADV
fsr-3373	4	41	1–2	1–2	NUM
fsr-3373	4	42	%	%	NOUN
fsr-3373	4	43	higher	high	ADJ
fsr-3373	4	44	with	with	ADP
fsr-3373	4	45	better	well	ADJ
fsr-3373	4	46	sharpe	sharpe	NOUN
fsr-3373	4	47	,	,	PUNCT
fsr-3373	4	48	sortino	sortino	NOUN
fsr-3373	4	49	,	,	PUNCT
fsr-3373	4	50	omega	omega	NOUN
fsr-3373	4	51	,	,	PUNCT
fsr-3373	4	52	and	and	CCONJ
fsr-3373	4	53	cumulative	cumulative	ADJ
fsr-3373	4	54	prospect	prospect	NOUN
fsr-3373	4	55	values	value	NOUN
fsr-3373	4	56	while	while	SCONJ
fsr-3373	4	57	reducing	reduce	VERB
fsr-3373	4	58	value	value	NOUN
fsr-3373	4	59	at	at	ADP
fsr-3373	4	60	risk	risk	NOUN
fsr-3373	4	61	(	(	PUNCT
fsr-3373	4	62	var	var	NOUN
fsr-3373	4	63	)	)	PUNCT
fsr-3373	4	64	and	and	CCONJ
fsr-3373	4	65	excess	excess	ADJ
fsr-3373	4	66	shortfall	shortfall	NOUN
fsr-3373	4	67	(	(	PUNCT
fsr-3373	4	68	es	es	NOUN
fsr-3373	4	69	)	)	PUNCT
fsr-3373	4	70	below	below	ADP
fsr-3373	4	71	var	var	NOUN
fsr-3373	4	72	.	.	PUNCT
fsr-3373	5	1	©	©	PROPN
fsr-3373	5	2	2017	2017	NUM
fsr-3373	5	3	academy	academy	NOUN
fsr-3373	5	4	of	of	ADP
fsr-3373	5	5	financial	financial	ADJ
fsr-3373	5	6	services	service	NOUN
fsr-3373	5	7	.	.	PUNCT
fsr-3373	6	1	all	all	DET
fsr-3373	6	2	rights	right	NOUN
fsr-3373	6	3	reserved	reserve	VERB
fsr-3373	6	4	.	.	PUNCT
fsr-3373	7	1	jel	jel	PROPN
fsr-3373	7	2	classification	classification	NOUN
fsr-3373	7	3	:	:	PUNCT
fsr-3373	7	4	g11	g11	NOUN
fsr-3373	7	5	;	;	PUNCT
fsr-3373	7	6	g17	g17	NOUN
fsr-3373	7	7	keywords	keyword	NOUN
fsr-3373	7	8	:	:	PUNCT
fsr-3373	7	9	portfolio	portfolio	NOUN
fsr-3373	7	10	insurance	insurance	NOUN
fsr-3373	7	11	;	;	PUNCT
fsr-3373	7	12	leveraged	leveraged	ADJ
fsr-3373	7	13	exchange	exchange	NOUN
fsr-3373	7	14	traded	trade	VERB
fsr-3373	7	15	funds	fund	NOUN
fsr-3373	7	16	1	1	NUM
fsr-3373	7	17	.	.	PUNCT
fsr-3373	8	1	introduction	introduction	NOUN
fsr-3373	8	2	with	with	ADP
fsr-3373	8	3	two	two	NUM
fsr-3373	8	4	major	major	ADJ
fsr-3373	8	5	market	market	NOUN
fsr-3373	8	6	crashes	crash	NOUN
fsr-3373	8	7	in	in	ADP
fsr-3373	8	8	the	the	DET
fsr-3373	8	9	last	last	ADJ
fsr-3373	8	10	17	17	NUM
fsr-3373	8	11	years	year	NOUN
fsr-3373	8	12	,	,	PUNCT
fsr-3373	8	13	portfolio	portfolio	NOUN
fsr-3373	8	14	insurance	insurance	NOUN
fsr-3373	8	15	,	,	PUNCT
fsr-3373	8	16	or	or	CCONJ
fsr-3373	8	17	the	the	DET
fsr-3373	8	18	protection	protection	NOUN
fsr-3373	8	19	of	of	ADP
fsr-3373	8	20	downside	downside	ADJ
fsr-3373	8	21	risk	risk	NOUN
fsr-3373	8	22	,	,	PUNCT
fsr-3373	8	23	has	have	AUX
fsr-3373	8	24	become	become	VERB
fsr-3373	8	25	increasingly	increasingly	ADV
fsr-3373	8	26	important	important	ADJ
fsr-3373	8	27	as	as	SCONJ
fsr-3373	8	28	“	"	PUNCT
fsr-3373	8	29	once	once	ADV
fsr-3373	8	30	in	in	ADP
fsr-3373	8	31	a	a	DET
fsr-3373	8	32	century	century	NOUN
fsr-3373	8	33	”	"	PUNCT
fsr-3373	8	34	events	event	NOUN
fsr-3373	8	35	are	be	AUX
fsr-3373	8	36	occurring	occur	VERB
fsr-3373	8	37	multiple	multiple	ADJ
fsr-3373	8	38	times	time	NOUN
fsr-3373	8	39	instead	instead	ADV
fsr-3373	8	40	.	.	PUNCT
fsr-3373	9	1	the	the	DET
fsr-3373	9	2	two	two	NUM
fsr-3373	9	3	main	main	ADJ
fsr-3373	9	4	types	type	NOUN
fsr-3373	9	5	of	of	ADP
fsr-3373	9	6	portfolio	portfolio	NOUN
fsr-3373	9	7	insurance	insurance	NOUN
fsr-3373	9	8	are	be	AUX
fsr-3373	9	9	option	option	NOUN
fsr-3373	9	10	based	base	VERB
fsr-3373	9	11	(	(	PUNCT
fsr-3373	9	12	leland	leland	PROPN
fsr-3373	9	13	and	and	CCONJ
fsr-3373	9	14	rubinstein	rubinstein	PROPN
fsr-3373	9	15	,	,	PUNCT
fsr-3373	9	16	1976	1976	NUM
fsr-3373	9	17	)	)	PUNCT
fsr-3373	9	18	and	and	CCONJ
fsr-3373	9	19	constant	constant	ADJ
fsr-3373	9	20	proportionate	proportionate	ADJ
fsr-3373	9	21	portfolio	portfolio	NOUN
fsr-3373	9	22	insurance	insurance	NOUN
fsr-3373	9	23	(	(	PUNCT
fsr-3373	9	24	cppi	cppi	NOUN
fsr-3373	9	25	)	)	PUNCT
fsr-3373	9	26	strategies	strategy	NOUN
fsr-3373	9	27	set	set	VERB
fsr-3373	9	28	forth	forth	ADV
fsr-3373	9	29	by	by	ADP
fsr-3373	9	30	black	black	ADJ
fsr-3373	9	31	and	and	CCONJ
fsr-3373	9	32	jones	jones	PROPN
fsr-3373	9	33	(	(	PUNCT
fsr-3373	9	34	1987	1987	NUM
fsr-3373	9	35	)	)	PUNCT
fsr-3373	9	36	.	.	PUNCT
fsr-3373	10	1	most	most	ADJ
fsr-3373	10	2	option	option	NOUN
fsr-3373	10	3	based	base	VERB
fsr-3373	10	4	ideas	idea	NOUN
fsr-3373	10	5	are	be	AUX
fsr-3373	10	6	premised	premise	VERB
fsr-3373	10	7	on	on	ADP
fsr-3373	10	8	purchasing	purchase	VERB
fsr-3373	10	9	or	or	CCONJ
fsr-3373	10	10	creating	create	VERB
fsr-3373	10	11	synthetic	synthetic	ADJ
fsr-3373	10	12	puts	put	NOUN
fsr-3373	10	13	on	on	ADP
fsr-3373	10	14	an	an	DET
fsr-3373	10	15	index	index	NOUN
fsr-3373	10	16	,	,	PUNCT
fsr-3373	10	17	effectively	effectively	ADV
fsr-3373	10	18	a	a	DET
fsr-3373	10	19	protective	protective	ADJ
fsr-3373	10	20	put	put	NOUN
fsr-3373	10	21	.	.	PUNCT
fsr-3373	11	1	the	the	DET
fsr-3373	11	2	cost	cost	NOUN
fsr-3373	11	3	of	of	ADP
fsr-3373	11	4	*	*	PUNCT
fsr-3373	11	5	corresponding	correspond	VERB
fsr-3373	11	6	author	author	NOUN
fsr-3373	11	7	.	.	PUNCT
fsr-3373	12	1	tel	tel	PROPN
fsr-3373	12	2	.	.	PUNCT
fsr-3373	12	3	:	:	PUNCT
fsr-3373	13	1	�	�	PROPN
fsr-3373	13	2	1	1	NUM
fsr-3373	13	3	-	-	SYM
fsr-3373	13	4	423	423	NUM
fsr-3373	13	5	-	-	PUNCT
fsr-3373	13	6	439	439	NUM
fsr-3373	13	7	-	-	PUNCT
fsr-3373	13	8	5668	5668	NUM
fsr-3373	13	9	;	;	PUNCT
fsr-3373	13	10	fax	fax	NOUN
fsr-3373	13	11	:	:	PUNCT
fsr-3373	13	12	�	�	PROPN
fsr-3373	13	13	1	1	NUM
fsr-3373	13	14	-	-	SYM
fsr-3373	13	15	423	423	NUM
fsr-3373	13	16	-	-	PUNCT
fsr-3373	13	17	439	439	NUM
fsr-3373	13	18	-	-	PUNCT
fsr-3373	13	19	8583	8583	NUM
fsr-3373	13	20	.	.	PUNCT
fsr-3373	14	1	e	e	X
fsr-3373	14	2	-	-	NOUN
fsr-3373	14	3	mail	mail	NOUN
fsr-3373	14	4	address	address	NOUN
fsr-3373	14	5	:	:	PUNCT
fsr-3373	14	6	trainor@etsu.edu	trainor@etsu.edu	PROPN
fsr-3373	14	7	(	(	PUNCT
fsr-3373	14	8	w.j	w.j	PROPN
fsr-3373	14	9	.	.	PROPN
fsr-3373	14	10	trainor	trainor	PROPN
fsr-3373	14	11	)	)	PUNCT
fsr-3373	14	12	financial	financial	ADJ
fsr-3373	14	13	services	service	NOUN
fsr-3373	14	14	review	review	VERB
fsr-3373	14	15	26	26	NUM
fsr-3373	14	16	(	(	PUNCT
fsr-3373	14	17	2017	2017	NUM
fsr-3373	14	18	)	)	PUNCT
fsr-3373	14	19	387–403	387–403	NUM
fsr-3373	14	20	1057	1057	NUM
fsr-3373	14	21	-	-	SYM
fsr-3373	14	22	0810/17/$	0810/17/$	NUM
fsr-3373	14	23	–	–	PUNCT
fsr-3373	14	24	see	see	VERB
fsr-3373	14	25	front	front	ADJ
fsr-3373	14	26	matter	matter	NOUN
fsr-3373	14	27	©	©	PROPN
fsr-3373	14	28	2017	2017	NUM
fsr-3373	14	29	academy	academy	NOUN
fsr-3373	14	30	of	of	ADP
fsr-3373	14	31	financial	financial	ADJ
fsr-3373	14	32	services	service	NOUN
fsr-3373	14	33	.	.	PUNCT
fsr-3373	15	1	all	all	DET
fsr-3373	15	2	rights	right	NOUN
fsr-3373	15	3	reserved	reserve	VERB
fsr-3373	15	4	.	.	PUNCT
fsr-3373	16	1	this	this	DET
fsr-3373	16	2	protection	protection	NOUN
fsr-3373	16	3	is	be	AUX
fsr-3373	16	4	usually	usually	ADV
fsr-3373	16	5	quite	quite	ADV
fsr-3373	16	6	high	high	ADJ
fsr-3373	16	7	and	and	CCONJ
fsr-3373	16	8	although	although	SCONJ
fsr-3373	16	9	it	it	PRON
fsr-3373	16	10	reduces	reduce	VERB
fsr-3373	16	11	downside	downside	ADJ
fsr-3373	16	12	exposure	exposure	NOUN
fsr-3373	16	13	,	,	PUNCT
fsr-3373	16	14	gains	gain	NOUN
fsr-3373	16	15	tend	tend	VERB
fsr-3373	16	16	to	to	PART
fsr-3373	16	17	be	be	AUX
fsr-3373	16	18	moderated	moderate	VERB
fsr-3373	16	19	significantly	significantly	ADV
fsr-3373	16	20	.	.	PUNCT
fsr-3373	17	1	cppi	cppi	NOUN
fsr-3373	17	2	strategies	strategy	NOUN
fsr-3373	17	3	are	be	AUX
fsr-3373	17	4	based	base	VERB
fsr-3373	17	5	on	on	ADP
fsr-3373	17	6	a	a	DET
fsr-3373	17	7	portfolio	portfolio	NOUN
fsr-3373	17	8	floor	floor	NOUN
fsr-3373	17	9	value	value	NOUN
fsr-3373	17	10	where	where	SCONJ
fsr-3373	17	11	a	a	DET
fsr-3373	17	12	percentage	percentage	NOUN
fsr-3373	17	13	of	of	ADP
fsr-3373	17	14	the	the	DET
fsr-3373	17	15	portfolio	portfolio	NOUN
fsr-3373	17	16	is	be	AUX
fsr-3373	17	17	invested	invest	VERB
fsr-3373	17	18	in	in	ADP
fsr-3373	17	19	the	the	DET
fsr-3373	17	20	risky	risky	ADJ
fsr-3373	17	21	asset	asset	NOUN
fsr-3373	17	22	and	and	CCONJ
fsr-3373	17	23	the	the	DET
fsr-3373	17	24	remainder	remainder	NOUN
fsr-3373	17	25	in	in	ADP
fsr-3373	17	26	a	a	DET
fsr-3373	17	27	risk	risk	NOUN
fsr-3373	17	28	-	-	PUNCT
fsr-3373	17	29	free	free	ADJ
fsr-3373	17	30	asset	asset	NOUN
fsr-3373	17	31	.	.	PUNCT
fsr-3373	18	1	if	if	SCONJ
fsr-3373	18	2	the	the	DET
fsr-3373	18	3	risky	risky	ADJ
fsr-3373	18	4	asset	asset	NOUN
fsr-3373	18	5	value	value	NOUN
fsr-3373	18	6	declines	decline	VERB
fsr-3373	18	7	,	,	PUNCT
fsr-3373	18	8	the	the	DET
fsr-3373	18	9	percentage	percentage	NOUN
fsr-3373	18	10	in	in	ADP
fsr-3373	18	11	the	the	DET
fsr-3373	18	12	risky	risky	ADJ
fsr-3373	18	13	asset	asset	NOUN
fsr-3373	18	14	is	be	AUX
fsr-3373	18	15	reduced	reduce	VERB
fsr-3373	18	16	.	.	PUNCT
fsr-3373	19	1	this	this	DET
fsr-3373	19	2	exposure	exposure	NOUN
fsr-3373	19	3	can	can	AUX
fsr-3373	19	4	decrease	decrease	VERB
fsr-3373	19	5	to	to	ADP
fsr-3373	19	6	zero	zero	NUM
fsr-3373	19	7	if	if	SCONJ
fsr-3373	19	8	a	a	DET
fsr-3373	19	9	decline	decline	NOUN
fsr-3373	19	10	in	in	ADP
fsr-3373	19	11	the	the	DET
fsr-3373	19	12	risky	risky	ADJ
fsr-3373	19	13	asset	asset	NOUN
fsr-3373	19	14	causes	cause	VERB
fsr-3373	19	15	the	the	DET
fsr-3373	19	16	portfolio	portfolio	NOUN
fsr-3373	19	17	value	value	NOUN
fsr-3373	19	18	to	to	PART
fsr-3373	19	19	reach	reach	VERB
fsr-3373	19	20	the	the	DET
fsr-3373	19	21	floor	floor	NOUN
fsr-3373	19	22	,	,	PUNCT
fsr-3373	19	23	where	where	SCONJ
fsr-3373	19	24	the	the	DET
fsr-3373	19	25	floor	floor	NOUN
fsr-3373	19	26	is	be	AUX
fsr-3373	19	27	defined	define	VERB
fsr-3373	19	28	as	as	ADP
fsr-3373	19	29	the	the	DET
fsr-3373	19	30	minimum	minimum	ADJ
fsr-3373	19	31	value	value	NOUN
fsr-3373	19	32	that	that	PRON
fsr-3373	19	33	the	the	DET
fsr-3373	19	34	portfolio	portfolio	NOUN
fsr-3373	19	35	can	can	AUX
fsr-3373	19	36	fall	fall	VERB
fsr-3373	19	37	to	to	ADP
fsr-3373	19	38	over	over	ADP
fsr-3373	19	39	an	an	DET
fsr-3373	19	40	investment	investment	NOUN
fsr-3373	19	41	period	period	NOUN
fsr-3373	19	42	.	.	PUNCT
fsr-3373	20	1	research	research	NOUN
fsr-3373	20	2	on	on	ADP
fsr-3373	20	3	portfolio	portfolio	NOUN
fsr-3373	20	4	insurance	insurance	NOUN
fsr-3373	20	5	strategies	strategy	NOUN
fsr-3373	20	6	is	be	AUX
fsr-3373	20	7	extensive	extensive	ADJ
fsr-3373	20	8	with	with	ADP
fsr-3373	20	9	most	most	ADJ
fsr-3373	20	10	research	research	NOUN
fsr-3373	20	11	coming	come	VERB
fsr-3373	20	12	down	down	ADP
fsr-3373	20	13	on	on	ADP
fsr-3373	20	14	the	the	DET
fsr-3373	20	15	side	side	NOUN
fsr-3373	20	16	of	of	ADP
fsr-3373	20	17	cppi	cppi	NOUN
fsr-3373	20	18	.	.	PUNCT
fsr-3373	21	1	cesari	cesari	PROPN
fsr-3373	21	2	and	and	CCONJ
fsr-3373	21	3	cremonini	cremonini	PROPN
fsr-3373	21	4	(	(	PUNCT
fsr-3373	21	5	2003	2003	NUM
fsr-3373	21	6	)	)	PUNCT
fsr-3373	21	7	test	test	VERB
fsr-3373	21	8	different	different	ADJ
fsr-3373	21	9	dynamic	dynamic	ADJ
fsr-3373	21	10	strategies	strategy	NOUN
fsr-3373	21	11	including	include	VERB
fsr-3373	21	12	cppi	cppi	NOUN
fsr-3373	21	13	and	and	CCONJ
fsr-3373	21	14	option	option	NOUN
fsr-3373	21	15	based	base	VERB
fsr-3373	21	16	portfolio	portfolio	NOUN
fsr-3373	21	17	insurance	insurance	NOUN
fsr-3373	21	18	among	among	ADP
fsr-3373	21	19	buy	buy	NOUN
fsr-3373	21	20	-	-	PUNCT
fsr-3373	21	21	and	and	CCONJ
fsr-3373	21	22	-	-	PUNCT
fsr-3373	21	23	hold	hold	VERB
fsr-3373	21	24	and	and	CCONJ
fsr-3373	21	25	constant	constant	ADJ
fsr-3373	21	26	mix	mix	NOUN
fsr-3373	21	27	strategies	strategy	NOUN
fsr-3373	21	28	.	.	PUNCT
fsr-3373	22	1	they	they	PRON
fsr-3373	22	2	find	find	VERB
fsr-3373	22	3	cppi	cppi	NOUN
fsr-3373	22	4	strategies	strategy	NOUN
fsr-3373	22	5	are	be	AUX
fsr-3373	22	6	dominant	dominant	ADJ
fsr-3373	22	7	in	in	ADP
fsr-3373	22	8	bear	bear	NOUN
fsr-3373	22	9	and	and	CCONJ
fsr-3373	22	10	no	no	DET
fsr-3373	22	11	-	-	PUNCT
fsr-3373	22	12	trend	trend	NOUN
fsr-3373	22	13	markets	market	NOUN
fsr-3373	22	14	and	and	CCONJ
fsr-3373	22	15	considered	consider	VERB
fsr-3373	22	16	more	more	ADV
fsr-3373	22	17	beneficial	beneficial	ADJ
fsr-3373	22	18	overall	overall	ADV
fsr-3373	22	19	.	.	PUNCT
fsr-3373	23	1	zieling	zieling	NOUN
fsr-3373	23	2	,	,	PUNCT
fsr-3373	23	3	mahayni	mahayni	PROPN
fsr-3373	23	4	,	,	PUNCT
fsr-3373	23	5	and	and	CCONJ
fsr-3373	23	6	balder	bald	ADJ
fsr-3373	23	7	(	(	PUNCT
fsr-3373	23	8	2014	2014	NUM
fsr-3373	23	9	)	)	PUNCT
fsr-3373	23	10	review	review	VERB
fsr-3373	23	11	an	an	DET
fsr-3373	23	12	extensive	extensive	ADJ
fsr-3373	23	13	research	research	NOUN
fsr-3373	23	14	list	list	NOUN
fsr-3373	23	15	and	and	CCONJ
fsr-3373	23	16	show	show	VERB
fsr-3373	23	17	that	that	SCONJ
fsr-3373	23	18	using	use	VERB
fsr-3373	23	19	a	a	DET
fsr-3373	23	20	time	time	NOUN
fsr-3373	23	21	varying	vary	VERB
fsr-3373	23	22	multiple	multiple	NOUN
fsr-3373	23	23	to	to	PART
fsr-3373	23	24	dictate	dictate	VERB
fsr-3373	23	25	the	the	DET
fsr-3373	23	26	amount	amount	NOUN
fsr-3373	23	27	of	of	ADP
fsr-3373	23	28	market	market	NOUN
fsr-3373	23	29	exposure	exposure	NOUN
fsr-3373	23	30	improves	improve	VERB
fsr-3373	23	31	cppi	cppi	NOUN
fsr-3373	23	32	results	result	NOUN
fsr-3373	23	33	.	.	PUNCT
fsr-3373	24	1	pezier	pezier	NOUN
fsr-3373	24	2	and	and	CCONJ
fsr-3373	24	3	scheller	scheller	NOUN
fsr-3373	24	4	(	(	PUNCT
fsr-3373	24	5	2014	2014	NUM
fsr-3373	24	6	)	)	PUNCT
fsr-3373	24	7	show	show	VERB
fsr-3373	24	8	cppi	cppi	NOUN
fsr-3373	24	9	strategies	strategy	NOUN
fsr-3373	24	10	are	be	AUX
fsr-3373	24	11	superior	superior	ADJ
fsr-3373	24	12	to	to	ADP
fsr-3373	24	13	option	option	NOUN
fsr-3373	24	14	based	base	VERB
fsr-3373	24	15	strategies	strategy	NOUN
fsr-3373	24	16	when	when	SCONJ
fsr-3373	24	17	implemented	implement	VERB
fsr-3373	24	18	in	in	ADP
fsr-3373	24	19	discrete	discrete	ADJ
fsr-3373	24	20	time	time	NOUN
fsr-3373	24	21	.	.	PUNCT
fsr-3373	25	1	annaert	annaert	NOUN
fsr-3373	25	2	,	,	PUNCT
fsr-3373	25	3	osselaer	osselaer	NOUN
fsr-3373	25	4	,	,	PUNCT
fsr-3373	25	5	and	and	CCONJ
fsr-3373	25	6	verstraete	verstraete	ADJ
fsr-3373	25	7	(	(	PUNCT
fsr-3373	25	8	2009	2009	NUM
fsr-3373	25	9	)	)	PUNCT
fsr-3373	25	10	compare	compare	VERB
fsr-3373	25	11	strategies	strategy	NOUN
fsr-3373	25	12	under	under	ADP
fsr-3373	25	13	a	a	DET
fsr-3373	25	14	stochastic	stochastic	ADJ
fsr-3373	25	15	dominance	dominance	NOUN
fsr-3373	25	16	approach	approach	NOUN
fsr-3373	25	17	and	and	CCONJ
fsr-3373	25	18	generally	generally	ADV
fsr-3373	25	19	find	find	VERB
fsr-3373	25	20	one	one	NUM
fsr-3373	25	21	strategy	strategy	NOUN
fsr-3373	25	22	does	do	AUX
fsr-3373	25	23	not	not	PART
fsr-3373	25	24	outperform	outperform	VERB
fsr-3373	25	25	another	another	PRON
fsr-3373	25	26	,	,	PUNCT
fsr-3373	25	27	including	include	VERB
fsr-3373	25	28	buy	buy	NOUN
fsr-3373	25	29	-	-	PUNCT
fsr-3373	25	30	and	and	CCONJ
fsr-3373	25	31	-	-	PUNCT
fsr-3373	25	32	hold	hold	NOUN
fsr-3373	25	33	when	when	SCONJ
fsr-3373	25	34	considering	consider	VERB
fsr-3373	25	35	first	first	ADJ
fsr-3373	25	36	,	,	PUNCT
fsr-3373	25	37	second	second	ADJ
fsr-3373	25	38	,	,	PUNCT
fsr-3373	25	39	and	and	CCONJ
fsr-3373	25	40	third	third	ADJ
fsr-3373	25	41	order	order	NOUN
fsr-3373	25	42	stochastic	stochastic	ADJ
fsr-3373	25	43	dominance	dominance	NOUN
fsr-3373	25	44	.	.	PUNCT
fsr-3373	26	1	however	however	ADV
fsr-3373	26	2	,	,	PUNCT
fsr-3373	26	3	maalej	maalej	NOUN
fsr-3373	26	4	and	and	CCONJ
fsr-3373	26	5	prigent	prigent	NOUN
fsr-3373	26	6	(	(	PUNCT
fsr-3373	26	7	2016	2016	NUM
fsr-3373	26	8	)	)	PUNCT
fsr-3373	26	9	finds	find	VERB
fsr-3373	26	10	cppi	cppi	NOUN
fsr-3373	26	11	outperforms	outperform	NOUN
fsr-3373	26	12	option	option	NOUN
fsr-3373	26	13	based	base	VERB
fsr-3373	26	14	portfolio	portfolio	NOUN
fsr-3373	26	15	insurance	insurance	NOUN
fsr-3373	26	16	based	base	VERB
fsr-3373	26	17	on	on	ADP
fsr-3373	26	18	third	third	ADJ
fsr-3373	26	19	order	order	NOUN
fsr-3373	26	20	stochastic	stochastic	ADJ
fsr-3373	26	21	dominance	dominance	NOUN
fsr-3373	26	22	.	.	PUNCT
fsr-3373	27	1	bertrand	bertrand	PROPN
fsr-3373	27	2	and	and	CCONJ
fsr-3373	27	3	prigent	prigent	PROPN
fsr-3373	27	4	(	(	PUNCT
fsr-3373	27	5	2011	2011	NUM
fsr-3373	27	6	)	)	PUNCT
fsr-3373	27	7	analyze	analyze	NOUN
fsr-3373	27	8	option	option	NOUN
fsr-3373	27	9	based	base	VERB
fsr-3373	27	10	portfolio	portfolio	NOUN
fsr-3373	27	11	insurance	insurance	NOUN
fsr-3373	27	12	and	and	CCONJ
fsr-3373	27	13	cppi	cppi	NOUN
fsr-3373	27	14	strategies	strategy	NOUN
fsr-3373	27	15	using	use	VERB
fsr-3373	27	16	downside	downside	ADJ
fsr-3373	27	17	risk	risk	NOUN
fsr-3373	27	18	measures	measure	NOUN
fsr-3373	27	19	and	and	CCONJ
fsr-3373	27	20	performance	performance	NOUN
fsr-3373	27	21	measures	measure	NOUN
fsr-3373	27	22	that	that	PRON
fsr-3373	27	23	consider	consider	VERB
fsr-3373	27	24	the	the	DET
fsr-3373	27	25	nonnormality	nonnormality	NOUN
fsr-3373	27	26	of	of	ADP
fsr-3373	27	27	returns	return	NOUN
fsr-3373	27	28	,	,	PUNCT
fsr-3373	27	29	otherwise	otherwise	ADV
fsr-3373	27	30	known	know	VERB
fsr-3373	27	31	as	as	ADP
fsr-3373	27	32	kappa	kappa	ADJ
fsr-3373	27	33	performance	performance	NOUN
fsr-3373	27	34	measures	measure	NOUN
fsr-3373	27	35	.	.	PUNCT
fsr-3373	28	1	they	they	PRON
fsr-3373	28	2	find	find	VERB
fsr-3373	28	3	the	the	DET
fsr-3373	28	4	cppi	cppi	NOUN
fsr-3373	28	5	method	method	NOUN
fsr-3373	28	6	outperforms	outperform	NOUN
fsr-3373	28	7	option	option	NOUN
fsr-3373	28	8	based	base	VERB
fsr-3373	28	9	portfolio	portfolio	NOUN
fsr-3373	28	10	insurance	insurance	NOUN
fsr-3373	28	11	using	use	VERB
fsr-3373	28	12	the	the	DET
fsr-3373	28	13	omega	omega	NOUN
fsr-3373	28	14	measure	measure	NOUN
fsr-3373	28	15	.	.	PUNCT
fsr-3373	29	1	kahneman	kahneman	NOUN
fsr-3373	29	2	and	and	CCONJ
fsr-3373	29	3	tversky	tversky	PROPN
fsr-3373	29	4	’s	’s	PART
fsr-3373	29	5	(	(	PUNCT
fsr-3373	29	6	1979	1979	NUM
fsr-3373	29	7	)	)	PUNCT
fsr-3373	29	8	prospect	prospect	NOUN
fsr-3373	29	9	theory	theory	NOUN
fsr-3373	29	10	,	,	PUNCT
fsr-3373	29	11	which	which	PRON
fsr-3373	29	12	assumes	assume	VERB
fsr-3373	29	13	investors	investor	NOUN
fsr-3373	29	14	weigh	weigh	VERB
fsr-3373	29	15	losses	loss	NOUN
fsr-3373	29	16	more	more	ADV
fsr-3373	29	17	than	than	ADP
fsr-3373	29	18	gains	gain	NOUN
fsr-3373	29	19	,	,	PUNCT
fsr-3373	29	20	is	be	AUX
fsr-3373	29	21	particularly	particularly	ADV
fsr-3373	29	22	relevant	relevant	ADJ
fsr-3373	29	23	in	in	ADP
fsr-3373	29	24	terms	term	NOUN
fsr-3373	29	25	of	of	ADP
fsr-3373	29	26	portfolio	portfolio	NOUN
fsr-3373	29	27	insurance	insurance	NOUN
fsr-3373	29	28	for	for	ADP
fsr-3373	29	29	mitigating	mitigate	VERB
fsr-3373	29	30	downside	downside	ADJ
fsr-3373	29	31	risk	risk	NOUN
fsr-3373	29	32	.	.	PUNCT
fsr-3373	30	1	tversky	tversky	PROPN
fsr-3373	30	2	and	and	CCONJ
fsr-3373	30	3	kahneman	kahneman	NOUN
fsr-3373	30	4	(	(	PUNCT
fsr-3373	30	5	1992	1992	NUM
fsr-3373	30	6	)	)	PUNCT
fsr-3373	30	7	expand	expand	VERB
fsr-3373	30	8	this	this	DET
fsr-3373	30	9	idea	idea	NOUN
fsr-3373	30	10	with	with	ADP
fsr-3373	30	11	the	the	DET
fsr-3373	30	12	introduction	introduction	NOUN
fsr-3373	30	13	of	of	ADP
fsr-3373	30	14	cumulative	cumulative	ADJ
fsr-3373	30	15	prospect	prospect	NOUN
fsr-3373	30	16	theory	theory	NOUN
fsr-3373	30	17	.	.	PUNCT
fsr-3373	31	1	dichtl	dichtl	PROPN
fsr-3373	31	2	and	and	CCONJ
fsr-3373	31	3	drobetz	drobetz	ADJ
fsr-3373	31	4	(	(	PUNCT
fsr-3373	31	5	2011	2011	NUM
fsr-3373	31	6	)	)	PUNCT
fsr-3373	31	7	use	use	VERB
fsr-3373	31	8	this	this	DET
fsr-3373	31	9	idea	idea	NOUN
fsr-3373	31	10	to	to	PART
fsr-3373	31	11	show	show	VERB
fsr-3373	31	12	portfolio	portfolio	NOUN
fsr-3373	31	13	insurance	insurance	NOUN
fsr-3373	31	14	strategies	strategy	NOUN
fsr-3373	31	15	are	be	AUX
fsr-3373	31	16	superior	superior	ADJ
fsr-3373	31	17	to	to	PART
fsr-3373	31	18	buy	buy	VERB
fsr-3373	31	19	-	-	PUNCT
fsr-3373	31	20	and	and	CCONJ
fsr-3373	31	21	-	-	PUNCT
fsr-3373	31	22	hold	hold	NOUN
fsr-3373	31	23	based	base	VERB
fsr-3373	31	24	on	on	ADP
fsr-3373	31	25	higher	high	ADJ
fsr-3373	31	26	cumulative	cumulative	ADJ
fsr-3373	31	27	prospect	prospect	NOUN
fsr-3373	31	28	values	value	NOUN
fsr-3373	31	29	(	(	PUNCT
fsr-3373	31	30	cpvs	cpvs	NOUN
fsr-3373	31	31	)	)	PUNCT
fsr-3373	31	32	.	.	PUNCT
fsr-3373	32	1	this	this	DET
fsr-3373	32	2	study	study	NOUN
fsr-3373	32	3	attempts	attempt	VERB
fsr-3373	32	4	to	to	PART
fsr-3373	32	5	combine	combine	VERB
fsr-3373	32	6	aspects	aspect	NOUN
fsr-3373	32	7	of	of	ADP
fsr-3373	32	8	both	both	CCONJ
fsr-3373	32	9	cppi	cppi	NOUN
fsr-3373	32	10	and	and	CCONJ
fsr-3373	32	11	option	option	NOUN
fsr-3373	32	12	based	base	VERB
fsr-3373	32	13	portfolio	portfolio	NOUN
fsr-3373	32	14	insurance	insurance	NOUN
fsr-3373	32	15	.	.	PUNCT
fsr-3373	33	1	specifically	specifically	ADV
fsr-3373	33	2	,	,	PUNCT
fsr-3373	33	3	by	by	ADP
fsr-3373	33	4	incorporating	incorporate	VERB
fsr-3373	33	5	leveraged	leveraged	ADJ
fsr-3373	33	6	exchange	exchange	NOUN
fsr-3373	33	7	traded	trade	VERB
fsr-3373	33	8	funds	fund	NOUN
fsr-3373	33	9	(	(	PUNCT
fsr-3373	33	10	letfs	letfs	PROPN
fsr-3373	33	11	)	)	PUNCT
fsr-3373	33	12	within	within	ADP
fsr-3373	33	13	a	a	DET
fsr-3373	33	14	cppi	cppi	NOUN
fsr-3373	33	15	strategy	strategy	NOUN
fsr-3373	33	16	,	,	PUNCT
fsr-3373	33	17	this	this	DET
fsr-3373	33	18	study	study	NOUN
fsr-3373	33	19	shows	show	VERB
fsr-3373	33	20	cppi	cppi	NOUN
fsr-3373	33	21	results	result	NOUN
fsr-3373	33	22	can	can	AUX
fsr-3373	33	23	be	be	AUX
fsr-3373	33	24	improved	improve	VERB
fsr-3373	33	25	.	.	PUNCT
fsr-3373	34	1	in	in	ADP
fsr-3373	34	2	a	a	DET
fsr-3373	34	3	typical	typical	ADJ
fsr-3373	34	4	cppi	cppi	NOUN
fsr-3373	34	5	strategy	strategy	NOUN
fsr-3373	34	6	where	where	SCONJ
fsr-3373	34	7	50	50	NUM
fsr-3373	34	8	%	%	NOUN
fsr-3373	34	9	of	of	ADP
fsr-3373	34	10	the	the	DET
fsr-3373	34	11	portfolio	portfolio	NOUN
fsr-3373	34	12	is	be	AUX
fsr-3373	34	13	invested	invest	VERB
fsr-3373	34	14	in	in	ADP
fsr-3373	34	15	equities	equity	NOUN
fsr-3373	34	16	,	,	PUNCT
fsr-3373	34	17	the	the	DET
fsr-3373	34	18	use	use	NOUN
fsr-3373	34	19	of	of	ADP
fsr-3373	34	20	a	a	DET
fsr-3373	34	21	2x	2x	NUM
fsr-3373	34	22	letf	letf	ADJ
fsr-3373	34	23	only	only	ADV
fsr-3373	34	24	requires	require	VERB
fsr-3373	34	25	25	25	NUM
fsr-3373	34	26	%	%	NOUN
fsr-3373	34	27	to	to	PART
fsr-3373	34	28	be	be	AUX
fsr-3373	34	29	invested	invest	VERB
fsr-3373	34	30	in	in	ADP
fsr-3373	34	31	equities	equity	NOUN
fsr-3373	34	32	while	while	SCONJ
fsr-3373	34	33	attaining	attain	VERB
fsr-3373	34	34	the	the	DET
fsr-3373	34	35	same	same	ADJ
fsr-3373	34	36	effective	effective	ADJ
fsr-3373	34	37	equity	equity	NOUN
fsr-3373	34	38	exposure	exposure	NOUN
fsr-3373	34	39	.	.	PUNCT
fsr-3373	35	1	thus	thus	ADV
fsr-3373	35	2	,	,	PUNCT
fsr-3373	35	3	rather	rather	ADV
fsr-3373	35	4	than	than	ADP
fsr-3373	35	5	having	have	VERB
fsr-3373	35	6	only	only	ADV
fsr-3373	35	7	50	50	NUM
fsr-3373	35	8	%	%	NOUN
fsr-3373	35	9	earning	earn	VERB
fsr-3373	35	10	the	the	DET
fsr-3373	35	11	risk	risk	NOUN
fsr-3373	35	12	-	-	PUNCT
fsr-3373	35	13	free	free	ADJ
fsr-3373	35	14	rate	rate	NOUN
fsr-3373	35	15	,	,	PUNCT
fsr-3373	35	16	75	75	NUM
fsr-3373	35	17	%	%	NOUN
fsr-3373	35	18	of	of	ADP
fsr-3373	35	19	the	the	DET
fsr-3373	35	20	portfolio	portfolio	NOUN
fsr-3373	35	21	is	be	AUX
fsr-3373	35	22	earning	earn	VERB
fsr-3373	35	23	the	the	DET
fsr-3373	35	24	risk	risk	NOUN
fsr-3373	35	25	-	-	PUNCT
fsr-3373	35	26	free	free	ADJ
fsr-3373	35	27	rate	rate	NOUN
fsr-3373	35	28	.	.	PUNCT
fsr-3373	36	1	using	use	VERB
fsr-3373	36	2	a	a	DET
fsr-3373	36	3	3x	3x	NUM
fsr-3373	36	4	letf	letf	NOUN
fsr-3373	36	5	only	only	ADV
fsr-3373	36	6	requires	require	VERB
fsr-3373	36	7	16.67	16.67	NUM
fsr-3373	36	8	%	%	NOUN
fsr-3373	36	9	in	in	ADP
fsr-3373	36	10	the	the	DET
fsr-3373	36	11	risky	risky	ADJ
fsr-3373	36	12	asset	asset	NOUN
fsr-3373	36	13	to	to	PART
fsr-3373	36	14	attain	attain	VERB
fsr-3373	36	15	the	the	DET
fsr-3373	36	16	same	same	ADJ
fsr-3373	36	17	50	50	NUM
fsr-3373	36	18	%	%	NOUN
fsr-3373	36	19	exposure	exposure	NOUN
fsr-3373	36	20	.	.	PUNCT
fsr-3373	37	1	the	the	DET
fsr-3373	37	2	drawbacks	drawback	NOUN
fsr-3373	37	3	of	of	ADP
fsr-3373	37	4	using	use	VERB
fsr-3373	37	5	letfs	letfs	PROPN
fsr-3373	37	6	are	be	AUX
fsr-3373	37	7	their	their	PRON
fsr-3373	37	8	higher	high	ADJ
fsr-3373	37	9	expense	expense	NOUN
fsr-3373	37	10	ratios	ratio	NOUN
fsr-3373	37	11	,	,	PUNCT
fsr-3373	37	12	inherent	inherent	ADJ
fsr-3373	37	13	financing	financing	NOUN
fsr-3373	37	14	costs	cost	NOUN
fsr-3373	37	15	through	through	ADP
fsr-3373	37	16	their	their	PRON
fsr-3373	37	17	use	use	NOUN
fsr-3373	37	18	of	of	ADP
fsr-3373	37	19	derivatives	derivative	NOUN
fsr-3373	37	20	,	,	PUNCT
fsr-3373	37	21	and	and	CCONJ
fsr-3373	37	22	return	return	NOUN
fsr-3373	37	23	decay	decay	NOUN
fsr-3373	37	24	over	over	ADP
fsr-3373	37	25	time	time	NOUN
fsr-3373	37	26	relative	relative	ADJ
fsr-3373	37	27	to	to	ADP
fsr-3373	37	28	what	what	PRON
fsr-3373	37	29	the	the	DET
fsr-3373	37	30	daily	daily	ADJ
fsr-3373	37	31	leverage	leverage	NOUN
fsr-3373	37	32	ratio	ratio	NOUN
fsr-3373	37	33	might	might	AUX
fsr-3373	37	34	imply	imply	VERB
fsr-3373	37	35	.	.	PUNCT
fsr-3373	38	1	for	for	ADP
fsr-3373	38	2	instance	instance	NOUN
fsr-3373	38	3	,	,	PUNCT
fsr-3373	38	4	a	a	DET
fsr-3373	38	5	2x	2x	NUM
fsr-3373	38	6	letf	letf	NOUN
fsr-3373	38	7	usually	usually	ADV
fsr-3373	38	8	falls	fall	VERB
fsr-3373	38	9	short	short	ADV
fsr-3373	38	10	of	of	ADP
fsr-3373	38	11	multiplying	multiply	VERB
fsr-3373	38	12	the	the	DET
fsr-3373	38	13	index	index	NOUN
fsr-3373	38	14	return	return	NOUN
fsr-3373	38	15	by	by	ADP
fsr-3373	38	16	two	two	NUM
fsr-3373	38	17	over	over	ADP
fsr-3373	38	18	longer	long	ADV
fsr-3373	38	19	holding	hold	VERB
fsr-3373	38	20	periods	period	NOUN
fsr-3373	38	21	.	.	PUNCT
fsr-3373	39	1	however	however	ADV
fsr-3373	39	2	,	,	PUNCT
fsr-3373	39	3	with	with	ADP
fsr-3373	39	4	more	more	ADJ
fsr-3373	39	5	of	of	ADP
fsr-3373	39	6	the	the	DET
fsr-3373	39	7	portfolio	portfolio	NOUN
fsr-3373	39	8	earning	earn	VERB
fsr-3373	39	9	the	the	DET
fsr-3373	39	10	risk	risk	NOUN
fsr-3373	39	11	-	-	PUNCT
fsr-3373	39	12	free	free	ADJ
fsr-3373	39	13	rate	rate	NOUN
fsr-3373	39	14	relative	relative	ADJ
fsr-3373	39	15	to	to	ADP
fsr-3373	39	16	a	a	DET
fsr-3373	39	17	standard	standard	ADJ
fsr-3373	39	18	cppi	cppi	NOUN
fsr-3373	39	19	using	use	VERB
fsr-3373	39	20	the	the	DET
fsr-3373	39	21	underlying	underlying	ADJ
fsr-3373	39	22	index	index	NOUN
fsr-3373	39	23	,	,	PUNCT
fsr-3373	39	24	the	the	DET
fsr-3373	39	25	gains	gain	NOUN
fsr-3373	39	26	on	on	ADP
fsr-3373	39	27	average	average	ADJ
fsr-3373	39	28	exceed	exceed	VERB
fsr-3373	39	29	the	the	DET
fsr-3373	39	30	costs	cost	NOUN
fsr-3373	39	31	.	.	PUNCT
fsr-3373	40	1	this	this	DET
fsr-3373	40	2	study	study	NOUN
fsr-3373	40	3	finds	find	VERB
fsr-3373	40	4	that	that	SCONJ
fsr-3373	40	5	if	if	SCONJ
fsr-3373	40	6	the	the	DET
fsr-3373	40	7	risk	risk	NOUN
fsr-3373	40	8	-	-	PUNCT
fsr-3373	40	9	free	free	ADJ
fsr-3373	40	10	rate	rate	NOUN
fsr-3373	40	11	is	be	AUX
fsr-3373	40	12	at	at	ADV
fsr-3373	40	13	least	least	ADJ
fsr-3373	40	14	3	3	NUM
fsr-3373	40	15	%	%	NOUN
fsr-3373	40	16	or	or	CCONJ
fsr-3373	40	17	the	the	DET
fsr-3373	40	18	one	one	NUM
fsr-3373	40	19	year	year	NOUN
fsr-3373	40	20	minus	minus	CCONJ
fsr-3373	40	21	the	the	DET
fsr-3373	40	22	90	90	NUM
fsr-3373	40	23	-	-	PUNCT
fsr-3373	40	24	day	day	NOUN
fsr-3373	40	25	treasury	treasury	NOUN
fsr-3373	40	26	exceeds	exceed	VERB
fsr-3373	40	27	1	1	NUM
fsr-3373	40	28	%	%	NOUN
fsr-3373	40	29	,	,	PUNCT
fsr-3373	40	30	the	the	DET
fsr-3373	40	31	simple	simple	ADJ
fsr-3373	40	32	substitution	substitution	NOUN
fsr-3373	40	33	of	of	ADP
fsr-3373	40	34	letfs	letfs	PROPN
fsr-3373	40	35	for	for	ADP
fsr-3373	40	36	the	the	DET
fsr-3373	40	37	underlying	underlying	ADJ
fsr-3373	40	38	index	index	NOUN
fsr-3373	40	39	within	within	ADP
fsr-3373	40	40	a	a	DET
fsr-3373	40	41	cppi	cppi	NOUN
fsr-3373	40	42	strategy	strategy	NOUN
fsr-3373	40	43	results	result	NOUN
fsr-3373	40	44	in	in	ADP
fsr-3373	40	45	higher	high	ADJ
fsr-3373	40	46	returns	return	NOUN
fsr-3373	40	47	with	with	ADP
fsr-3373	40	48	better	well	ADJ
fsr-3373	40	49	sharpe	sharpe	NOUN
fsr-3373	40	50	,	,	PUNCT
fsr-3373	40	51	sortino	sortino	NOUN
fsr-3373	40	52	,	,	PUNCT
fsr-3373	40	53	omega	omega	NOUN
fsr-3373	40	54	,	,	PUNCT
fsr-3373	40	55	and	and	CCONJ
fsr-3373	40	56	cpv	cpv	NOUN
fsr-3373	40	57	values	value	NOUN
fsr-3373	40	58	388	388	NUM
fsr-3373	40	59	j.	j.	PROPN
fsr-3373	40	60	george	george	PROPN
fsr-3373	40	61	,	,	PUNCT
fsr-3373	40	62	w.j	w.j	PROPN
fsr-3373	40	63	.	.	PROPN
fsr-3373	40	64	trainor	trainor	PROPN
fsr-3373	40	65	/	/	SYM
fsr-3373	40	66	financial	financial	ADJ
fsr-3373	40	67	services	service	NOUN
fsr-3373	40	68	review	review	VERB
fsr-3373	40	69	26	26	NUM
fsr-3373	40	70	(	(	PUNCT
fsr-3373	40	71	2017	2017	NUM
fsr-3373	40	72	)	)	PUNCT
fsr-3373	40	73	387–403	387–403	NUM
fsr-3373	40	74	while	while	SCONJ
fsr-3373	40	75	reducing	reduce	VERB
fsr-3373	40	76	value	value	NOUN
fsr-3373	40	77	at	at	ADP
fsr-3373	40	78	risk	risk	NOUN
fsr-3373	40	79	(	(	PUNCT
fsr-3373	40	80	var	var	NOUN
fsr-3373	40	81	)	)	PUNCT
fsr-3373	40	82	and	and	CCONJ
fsr-3373	40	83	excess	excess	ADJ
fsr-3373	40	84	shortfall	shortfall	NOUN
fsr-3373	40	85	(	(	PUNCT
fsr-3373	40	86	es	es	NOUN
fsr-3373	40	87	)	)	PUNCT
fsr-3373	40	88	below	below	ADP
fsr-3373	40	89	var	var	NOUN
fsr-3373	40	90	.	.	PUNCT
fsr-3373	41	1	treasury	treasury	NOUN
fsr-3373	41	2	rates	rate	NOUN
fsr-3373	41	3	less	less	ADJ
fsr-3373	41	4	than	than	ADP
fsr-3373	41	5	3	3	NUM
fsr-3373	41	6	%	%	NOUN
fsr-3373	41	7	or	or	CCONJ
fsr-3373	41	8	flat	flat	ADJ
fsr-3373	41	9	yield	yield	NOUN
fsr-3373	41	10	curves	curve	NOUN
fsr-3373	41	11	generally	generally	ADV
fsr-3373	41	12	eliminate	eliminate	VERB
fsr-3373	41	13	the	the	DET
fsr-3373	41	14	value	value	NOUN
fsr-3373	41	15	of	of	ADP
fsr-3373	41	16	using	use	VERB
fsr-3373	41	17	letfs	letfs	NOUN
fsr-3373	41	18	in	in	ADP
fsr-3373	41	19	a	a	DET
fsr-3373	41	20	cppi	cppi	NOUN
fsr-3373	41	21	framework	framework	NOUN
fsr-3373	41	22	.	.	PUNCT
fsr-3373	42	1	however	however	ADV
fsr-3373	42	2	,	,	PUNCT
fsr-3373	42	3	even	even	ADV
fsr-3373	42	4	under	under	ADP
fsr-3373	42	5	low	low	ADJ
fsr-3373	42	6	interest	interest	NOUN
fsr-3373	42	7	rate	rate	NOUN
fsr-3373	42	8	conditions	condition	NOUN
fsr-3373	42	9	,	,	PUNCT
fsr-3373	42	10	using	use	VERB
fsr-3373	42	11	letfs	letfs	PROPN
fsr-3373	42	12	within	within	ADP
fsr-3373	42	13	a	a	DET
fsr-3373	42	14	cppi	cppi	NOUN
fsr-3373	42	15	framework	framework	NOUN
fsr-3373	42	16	does	do	AUX
fsr-3373	42	17	not	not	PART
fsr-3373	42	18	result	result	VERB
fsr-3373	42	19	in	in	ADP
fsr-3373	42	20	extreme	extreme	ADJ
fsr-3373	42	21	underperformance	underperformance	NOUN
fsr-3373	42	22	(	(	PUNCT
fsr-3373	42	23	less	less	ADJ
fsr-3373	42	24	than	than	ADP
fsr-3373	42	25	0.4	0.4	NUM
fsr-3373	42	26	%	%	NOUN
fsr-3373	42	27	annually	annually	ADV
fsr-3373	42	28	)	)	PUNCT
fsr-3373	42	29	relative	relative	ADJ
fsr-3373	42	30	to	to	ADP
fsr-3373	42	31	a	a	DET
fsr-3373	42	32	standard	standard	ADJ
fsr-3373	42	33	cppi	cppi	NOUN
fsr-3373	42	34	.	.	PUNCT
fsr-3373	43	1	the	the	DET
fsr-3373	43	2	drawback	drawback	NOUN
fsr-3373	43	3	is	be	AUX
fsr-3373	43	4	with	with	ADP
fsr-3373	43	5	low	low	ADJ
fsr-3373	43	6	t	t	PROPN
fsr-3373	43	7	-	-	PUNCT
fsr-3373	43	8	bill	bill	NOUN
fsr-3373	43	9	rates	rate	NOUN
fsr-3373	43	10	,	,	PUNCT
fsr-3373	43	11	the	the	DET
fsr-3373	43	12	advantage	advantage	NOUN
fsr-3373	43	13	of	of	ADP
fsr-3373	43	14	having	have	VERB
fsr-3373	43	15	a	a	DET
fsr-3373	43	16	letf	letf	ADJ
fsr-3373	43	17	effectively	effectively	ADV
fsr-3373	43	18	“	"	PUNCT
fsr-3373	43	19	borrow	borrow	VERB
fsr-3373	43	20	”	"	PUNCT
fsr-3373	43	21	short	short	ADV
fsr-3373	43	22	so	so	SCONJ
fsr-3373	43	23	the	the	DET
fsr-3373	43	24	investor	investor	NOUN
fsr-3373	43	25	can	can	AUX
fsr-3373	43	26	earn	earn	VERB
fsr-3373	43	27	a	a	DET
fsr-3373	43	28	higher	high	ADJ
fsr-3373	43	29	return	return	NOUN
fsr-3373	43	30	with	with	ADP
fsr-3373	43	31	excess	excess	ADJ
fsr-3373	43	32	funds	fund	NOUN
fsr-3373	43	33	over	over	ADP
fsr-3373	43	34	the	the	DET
fsr-3373	43	35	year	year	NOUN
fsr-3373	43	36	is	be	AUX
fsr-3373	43	37	eliminated	eliminate	VERB
fsr-3373	43	38	.	.	PUNCT
fsr-3373	44	1	this	this	DET
fsr-3373	44	2	drawback	drawback	NOUN
fsr-3373	44	3	can	can	AUX
fsr-3373	44	4	be	be	AUX
fsr-3373	44	5	overcome	overcome	VERB
fsr-3373	44	6	to	to	ADP
fsr-3373	44	7	the	the	DET
fsr-3373	44	8	extent	extent	NOUN
fsr-3373	44	9	an	an	DET
fsr-3373	44	10	investor	investor	NOUN
fsr-3373	44	11	is	be	AUX
fsr-3373	44	12	willing	willing	ADJ
fsr-3373	44	13	to	to	PART
fsr-3373	44	14	take	take	VERB
fsr-3373	44	15	on	on	ADP
fsr-3373	44	16	more	more	ADJ
fsr-3373	44	17	risk	risk	NOUN
fsr-3373	44	18	by	by	ADP
fsr-3373	44	19	investing	invest	VERB
fsr-3373	44	20	excess	excess	ADJ
fsr-3373	44	21	funds	fund	NOUN
fsr-3373	44	22	in	in	ADP
fsr-3373	44	23	higher	high	ADJ
fsr-3373	44	24	performing	performing	NOUN
fsr-3373	44	25	but	but	CCONJ
fsr-3373	44	26	riskier	risky	ADJ
fsr-3373	44	27	assets	asset	NOUN
fsr-3373	44	28	such	such	ADJ
fsr-3373	44	29	as	as	ADP
fsr-3373	44	30	a	a	DET
fsr-3373	44	31	diversified	diversified	ADJ
fsr-3373	44	32	bond	bond	NOUN
fsr-3373	44	33	fund	fund	NOUN
fsr-3373	44	34	.	.	PUNCT
fsr-3373	45	1	2	2	X
fsr-3373	45	2	.	.	X
fsr-3373	45	3	review	review	NOUN
fsr-3373	45	4	of	of	ADP
fsr-3373	45	5	letfs	letfs	PROPN
fsr-3373	45	6	although	although	SCONJ
fsr-3373	45	7	leveraged	leverage	VERB
fsr-3373	45	8	mutual	mutual	ADJ
fsr-3373	45	9	funds	fund	NOUN
fsr-3373	45	10	have	have	AUX
fsr-3373	45	11	been	be	AUX
fsr-3373	45	12	around	around	ADV
fsr-3373	45	13	since	since	SCONJ
fsr-3373	45	14	at	at	ADP
fsr-3373	45	15	least	least	ADJ
fsr-3373	45	16	1993	1993	NUM
fsr-3373	45	17	,	,	PUNCT
fsr-3373	45	18	they	they	PRON
fsr-3373	45	19	did	do	AUX
fsr-3373	45	20	not	not	PART
fsr-3373	45	21	gain	gain	VERB
fsr-3373	45	22	traction	traction	NOUN
fsr-3373	45	23	until	until	SCONJ
fsr-3373	45	24	proshares	proshare	NOUN
fsr-3373	45	25	introduced	introduce	VERB
fsr-3373	45	26	the	the	DET
fsr-3373	45	27	first	first	ADJ
fsr-3373	45	28	2x	2x	NUM
fsr-3373	45	29	letf	letf	ADV
fsr-3373	45	30	in	in	ADP
fsr-3373	45	31	2006	2006	NUM
fsr-3373	45	32	.	.	PUNCT
fsr-3373	46	1	since	since	SCONJ
fsr-3373	46	2	that	that	DET
fsr-3373	46	3	time	time	NOUN
fsr-3373	46	4	,	,	PUNCT
fsr-3373	46	5	they	they	PRON
fsr-3373	46	6	have	have	AUX
fsr-3373	46	7	expanded	expand	VERB
fsr-3373	46	8	dramatically	dramatically	ADV
fsr-3373	46	9	and	and	CCONJ
fsr-3373	46	10	as	as	ADP
fsr-3373	46	11	of	of	ADP
fsr-3373	46	12	2017	2017	NUM
fsr-3373	46	13	,	,	PUNCT
fsr-3373	46	14	there	there	PRON
fsr-3373	46	15	are	be	VERB
fsr-3373	46	16	more	more	ADJ
fsr-3373	46	17	than	than	ADP
fsr-3373	46	18	170	170	NUM
fsr-3373	46	19	letfs	letfs	NOUN
fsr-3373	46	20	with	with	ADP
fsr-3373	46	21	$	$	SYM
fsr-3373	46	22	40	40	NUM
fsr-3373	46	23	�	�	NOUN
fsr-3373	46	24	billion	billion	NUM
fsr-3373	46	25	in	in	ADP
fsr-3373	46	26	assets	asset	NOUN
fsr-3373	46	27	on	on	ADP
fsr-3373	46	28	a	a	DET
fsr-3373	46	29	variety	variety	NOUN
fsr-3373	46	30	of	of	ADP
fsr-3373	46	31	assets	asset	NOUN
fsr-3373	46	32	and	and	CCONJ
fsr-3373	46	33	indexes	index	NOUN
fsr-3373	46	34	including	include	VERB
fsr-3373	46	35	,	,	PUNCT
fsr-3373	46	36	gold	gold	NOUN
fsr-3373	46	37	,	,	PUNCT
fsr-3373	46	38	oil	oil	NOUN
fsr-3373	46	39	,	,	PUNCT
fsr-3373	46	40	foreign	foreign	ADJ
fsr-3373	46	41	currencies	currency	NOUN
fsr-3373	46	42	,	,	PUNCT
fsr-3373	46	43	treasurybond	treasurybond	NOUN
fsr-3373	46	44	futures	future	NOUN
fsr-3373	46	45	,	,	PUNCT
fsr-3373	46	46	and	and	CCONJ
fsr-3373	46	47	a	a	DET
fsr-3373	46	48	myriad	myriad	NOUN
fsr-3373	46	49	of	of	ADP
fsr-3373	46	50	equity	equity	NOUN
fsr-3373	46	51	indexes	index	NOUN
fsr-3373	46	52	.	.	PUNCT
fsr-3373	47	1	in	in	ADP
fsr-3373	47	2	general	general	ADJ
fsr-3373	47	3	,	,	PUNCT
fsr-3373	47	4	most	most	ADJ
fsr-3373	47	5	letfs	letfs	PROPN
fsr-3373	47	6	magnify	magnify	VERB
fsr-3373	47	7	the	the	DET
fsr-3373	47	8	daily	daily	ADJ
fsr-3373	47	9	return	return	NOUN
fsr-3373	47	10	of	of	ADP
fsr-3373	47	11	an	an	DET
fsr-3373	47	12	underlying	underlying	ADJ
fsr-3373	47	13	index	index	NOUN
fsr-3373	47	14	up	up	ADP
fsr-3373	47	15	to	to	ADP
fsr-3373	47	16	�	�	NOUN
fsr-3373	47	17	3.0x	3.0x	NUM
fsr-3373	47	18	,	,	PUNCT
fsr-3373	47	19	although	although	SCONJ
fsr-3373	47	20	there	there	PRON
fsr-3373	47	21	are	be	VERB
fsr-3373	47	22	few	few	ADJ
fsr-3373	47	23	funds	fund	NOUN
fsr-3373	47	24	that	that	PRON
fsr-3373	47	25	magnify	magnify	VERB
fsr-3373	47	26	the	the	DET
fsr-3373	47	27	monthly	monthly	ADJ
fsr-3373	47	28	return	return	NOUN
fsr-3373	47	29	.	.	PUNCT
fsr-3373	48	1	recently	recently	ADV
fsr-3373	48	2	,	,	PUNCT
fsr-3373	48	3	several	several	ADJ
fsr-3373	48	4	funds	fund	NOUN
fsr-3373	48	5	have	have	AUX
fsr-3373	48	6	been	be	AUX
fsr-3373	48	7	proposed	propose	VERB
fsr-3373	48	8	to	to	PART
fsr-3373	48	9	deliver	deliver	VERB
fsr-3373	48	10	�	�	PROPN
fsr-3373	48	11	4.0x	4.0x	PROPN
fsr-3373	48	12	,	,	PUNCT
fsr-3373	48	13	(	(	PUNCT
fsr-3373	48	14	hunnicutt	hunnicutt	NOUN
fsr-3373	48	15	and	and	CCONJ
fsr-3373	48	16	mccrank	mccrank	NOUN
fsr-3373	48	17	,	,	PUNCT
fsr-3373	48	18	2017	2017	NUM
fsr-3373	48	19	)	)	PUNCT
fsr-3373	48	20	.	.	PUNCT
fsr-3373	49	1	strictly	strictly	ADV
fsr-3373	49	2	speaking	speak	VERB
fsr-3373	49	3	,	,	PUNCT
fsr-3373	49	4	the	the	DET
fsr-3373	49	5	proposed	propose	VERB
fsr-3373	49	6	4x	4x	NUM
fsr-3373	49	7	funds	fund	NOUN
fsr-3373	49	8	will	will	AUX
fsr-3373	49	9	magnify	magnify	VERB
fsr-3373	49	10	index	index	NOUN
fsr-3373	49	11	futures	future	NOUN
fsr-3373	49	12	,	,	PUNCT
fsr-3373	49	13	but	but	CCONJ
fsr-3373	49	14	the	the	DET
fsr-3373	49	15	effect	effect	NOUN
fsr-3373	49	16	will	will	AUX
fsr-3373	49	17	generally	generally	ADV
fsr-3373	49	18	be	be	AUX
fsr-3373	49	19	the	the	DET
fsr-3373	49	20	same	same	ADJ
fsr-3373	49	21	because	because	SCONJ
fsr-3373	49	22	the	the	DET
fsr-3373	49	23	cost	cost	NOUN
fsr-3373	49	24	of	of	ADP
fsr-3373	49	25	carry	carry	NOUN
fsr-3373	49	26	is	be	AUX
fsr-3373	49	27	mitigated	mitigate	VERB
fsr-3373	49	28	because	because	SCONJ
fsr-3373	49	29	of	of	ADP
fsr-3373	49	30	the	the	DET
fsr-3373	49	31	underlying	underlying	ADJ
fsr-3373	49	32	dividends	dividend	NOUN
fsr-3373	49	33	paid	pay	VERB
fsr-3373	49	34	.	.	PUNCT
fsr-3373	50	1	letfs	letfs	PROPN
fsr-3373	50	2	attain	attain	VERB
fsr-3373	50	3	their	their	PRON
fsr-3373	50	4	leverage	leverage	NOUN
fsr-3373	50	5	by	by	ADP
fsr-3373	50	6	using	use	VERB
fsr-3373	50	7	derivative	derivative	ADJ
fsr-3373	50	8	assets	asset	NOUN
fsr-3373	50	9	such	such	ADJ
fsr-3373	50	10	as	as	ADP
fsr-3373	50	11	futures	future	NOUN
fsr-3373	50	12	and	and	CCONJ
fsr-3373	50	13	swaps	swap	NOUN
fsr-3373	50	14	.	.	PUNCT
fsr-3373	51	1	it	it	PRON
fsr-3373	51	2	should	should	AUX
fsr-3373	51	3	be	be	AUX
fsr-3373	51	4	noted	note	VERB
fsr-3373	51	5	that	that	SCONJ
fsr-3373	51	6	although	although	SCONJ
fsr-3373	51	7	the	the	DET
fsr-3373	51	8	swaps	swap	NOUN
fsr-3373	51	9	are	be	AUX
fsr-3373	51	10	based	base	VERB
fsr-3373	51	11	on	on	ADP
fsr-3373	51	12	the	the	DET
fsr-3373	51	13	underlying	underlying	ADJ
fsr-3373	51	14	daily	daily	ADJ
fsr-3373	51	15	index	index	NOUN
fsr-3373	51	16	returns	return	NOUN
fsr-3373	51	17	and	and	CCONJ
fsr-3373	51	18	libor	libor	PROPN
fsr-3373	51	19	,	,	PUNCT
fsr-3373	51	20	there	there	PRON
fsr-3373	51	21	is	be	VERB
fsr-3373	51	22	counterparty	counterparty	NOUN
fsr-3373	51	23	risk	risk	NOUN
fsr-3373	51	24	.	.	PUNCT
fsr-3373	52	1	thus	thus	ADV
fsr-3373	52	2	,	,	PUNCT
fsr-3373	52	3	a	a	DET
fsr-3373	52	4	large	large	ADJ
fsr-3373	52	5	gain	gain	NOUN
fsr-3373	52	6	to	to	ADP
fsr-3373	52	7	the	the	DET
fsr-3373	52	8	letf	letf	NOUN
fsr-3373	52	9	could	could	AUX
fsr-3373	52	10	theoretically	theoretically	ADV
fsr-3373	52	11	not	not	PART
fsr-3373	52	12	be	be	AUX
fsr-3373	52	13	paid	pay	VERB
fsr-3373	52	14	by	by	ADP
fsr-3373	52	15	the	the	DET
fsr-3373	52	16	counterparty	counterparty	NOUN
fsr-3373	52	17	.	.	PUNCT
fsr-3373	53	1	although	although	SCONJ
fsr-3373	53	2	an	an	DET
fsr-3373	53	3	unlikely	unlikely	ADJ
fsr-3373	53	4	scenario	scenario	NOUN
fsr-3373	53	5	,	,	PUNCT
fsr-3373	53	6	not	not	PART
fsr-3373	53	7	an	an	DET
fsr-3373	53	8	impossible	impossible	ADJ
fsr-3373	53	9	one	one	NUM
fsr-3373	53	10	.	.	PUNCT
fsr-3373	54	1	the	the	DET
fsr-3373	54	2	primary	primary	ADJ
fsr-3373	54	3	drawback	drawback	NOUN
fsr-3373	54	4	to	to	ADP
fsr-3373	54	5	letfs	letfs	PROPN
fsr-3373	54	6	is	be	AUX
fsr-3373	54	7	realized	realize	VERB
fsr-3373	54	8	leverage	leverage	NOUN
fsr-3373	54	9	over	over	ADP
fsr-3373	54	10	time	time	NOUN
fsr-3373	54	11	is	be	AUX
fsr-3373	54	12	usually	usually	ADV
fsr-3373	54	13	less	less	ADJ
fsr-3373	54	14	than	than	ADP
fsr-3373	54	15	what	what	PRON
fsr-3373	54	16	the	the	DET
fsr-3373	54	17	daily	daily	ADJ
fsr-3373	54	18	multiple	multiple	NOUN
fsr-3373	54	19	might	might	AUX
fsr-3373	54	20	imply	imply	VERB
fsr-3373	54	21	(	(	PUNCT
fsr-3373	54	22	trainor	trainor	NOUN
fsr-3373	54	23	and	and	CCONJ
fsr-3373	54	24	baryla	baryla	NOUN
fsr-3373	54	25	,	,	PUNCT
fsr-3373	54	26	2008	2008	NUM
fsr-3373	54	27	)	)	PUNCT
fsr-3373	54	28	.	.	PUNCT
fsr-3373	55	1	thus	thus	ADV
fsr-3373	55	2	,	,	PUNCT
fsr-3373	55	3	while	while	SCONJ
fsr-3373	55	4	the	the	DET
fsr-3373	55	5	realized	realize	VERB
fsr-3373	55	6	return	return	NOUN
fsr-3373	55	7	over	over	ADP
fsr-3373	55	8	time	time	NOUN
fsr-3373	55	9	often	often	ADV
fsr-3373	55	10	falls	fall	VERB
fsr-3373	55	11	short	short	ADV
fsr-3373	55	12	of	of	ADP
fsr-3373	55	13	the	the	DET
fsr-3373	55	14	daily	daily	ADJ
fsr-3373	55	15	leverage	leverage	NOUN
fsr-3373	55	16	ratio	ratio	NOUN
fsr-3373	55	17	,	,	PUNCT
fsr-3373	55	18	the	the	DET
fsr-3373	55	19	risk	risk	NOUN
fsr-3373	55	20	does	do	VERB
fsr-3373	55	21	not	not	PART
fsr-3373	55	22	.	.	PUNCT
fsr-3373	56	1	to	to	PART
fsr-3373	56	2	enumerate	enumerate	VERB
fsr-3373	56	3	,	,	PUNCT
fsr-3373	56	4	assume	assume	VERB
fsr-3373	56	5	an	an	DET
fsr-3373	56	6	underlying	underlying	ADJ
fsr-3373	56	7	index	index	NOUN
fsr-3373	56	8	falls	fall	VERB
fsr-3373	56	9	5	5	NUM
fsr-3373	56	10	%	%	NOUN
fsr-3373	56	11	on	on	ADP
fsr-3373	56	12	day	day	NOUN
fsr-3373	56	13	1	1	NUM
fsr-3373	56	14	,	,	PUNCT
fsr-3373	56	15	and	and	CCONJ
fsr-3373	56	16	increases	increase	VERB
fsr-3373	56	17	10	10	NUM
fsr-3373	56	18	%	%	NOUN
fsr-3373	56	19	on	on	ADP
fsr-3373	56	20	day	day	NOUN
fsr-3373	56	21	2	2	NUM
fsr-3373	56	22	for	for	ADP
fsr-3373	56	23	a	a	DET
fsr-3373	56	24	2	2	NUM
fsr-3373	56	25	-	-	PUNCT
fsr-3373	56	26	day	day	NOUN
fsr-3373	56	27	return	return	NOUN
fsr-3373	56	28	of	of	ADP
fsr-3373	56	29	4.5	4.5	NUM
fsr-3373	56	30	%	%	NOUN
fsr-3373	56	31	.	.	PUNCT
fsr-3373	57	1	a	a	DET
fsr-3373	57	2	3.0x	3.0x	NUM
fsr-3373	57	3	letf	letf	NOUN
fsr-3373	57	4	would	would	AUX
fsr-3373	57	5	lose	lose	VERB
fsr-3373	57	6	15	15	NUM
fsr-3373	57	7	%	%	NOUN
fsr-3373	57	8	,	,	PUNCT
fsr-3373	57	9	then	then	ADV
fsr-3373	57	10	gain	gain	VERB
fsr-3373	57	11	30	30	NUM
fsr-3373	57	12	%	%	NOUN
fsr-3373	57	13	for	for	ADP
fsr-3373	57	14	a	a	DET
fsr-3373	57	15	2	2	NUM
fsr-3373	57	16	-	-	PUNCT
fsr-3373	57	17	day	day	NOUN
fsr-3373	57	18	return	return	NOUN
fsr-3373	57	19	of	of	ADP
fsr-3373	57	20	10.5	10.5	NUM
fsr-3373	57	21	%	%	NOUN
fsr-3373	57	22	resulting	result	VERB
fsr-3373	57	23	in	in	ADP
fsr-3373	57	24	an	an	DET
fsr-3373	57	25	effective	effective	ADJ
fsr-3373	57	26	leverage	leverage	NOUN
fsr-3373	57	27	ratio	ratio	NOUN
fsr-3373	57	28	of	of	ADP
fsr-3373	57	29	2.3	2.3	NUM
fsr-3373	57	30	(	(	PUNCT
fsr-3373	57	31	10.5%/4.5	10.5%/4.5	NUM
fsr-3373	57	32	%	%	NOUN
fsr-3373	57	33	)	)	PUNCT
fsr-3373	57	34	instead	instead	ADV
fsr-3373	57	35	of	of	ADP
fsr-3373	57	36	3.0	3.0	NUM
fsr-3373	57	37	.	.	PUNCT
fsr-3373	58	1	this	this	PRON
fsr-3373	58	2	is	be	AUX
fsr-3373	58	3	often	often	ADV
fsr-3373	58	4	referred	refer	VERB
fsr-3373	58	5	to	to	ADP
fsr-3373	58	6	as	as	ADP
fsr-3373	58	7	leverage	leverage	NOUN
fsr-3373	58	8	decay	decay	NOUN
fsr-3373	58	9	and	and	CCONJ
fsr-3373	58	10	is	be	AUX
fsr-3373	58	11	a	a	DET
fsr-3373	58	12	function	function	NOUN
fsr-3373	58	13	of	of	ADP
fsr-3373	58	14	time	time	NOUN
fsr-3373	58	15	,	,	PUNCT
fsr-3373	58	16	leverage	leverage	NOUN
fsr-3373	58	17	,	,	PUNCT
fsr-3373	58	18	return	return	NOUN
fsr-3373	58	19	trend	trend	NOUN
fsr-3373	58	20	,	,	PUNCT
fsr-3373	58	21	and	and	CCONJ
fsr-3373	58	22	volatility	volatility	NOUN
fsr-3373	58	23	,	,	PUNCT
fsr-3373	58	24	with	with	ADP
fsr-3373	58	25	volatility	volatility	NOUN
fsr-3373	58	26	usually	usually	ADV
fsr-3373	58	27	being	be	AUX
fsr-3373	58	28	the	the	DET
fsr-3373	58	29	significant	significant	ADJ
fsr-3373	58	30	determinant	determinant	ADJ
fsr-3373	58	31	.	.	PUNCT
fsr-3373	59	1	realized	realize	VERB
fsr-3373	59	2	leverage	leverage	NOUN
fsr-3373	59	3	can	can	AUX
fsr-3373	59	4	mathematically	mathematically	ADV
fsr-3373	59	5	be	be	AUX
fsr-3373	59	6	expressed	express	VERB
fsr-3373	59	7	by	by	ADP
fsr-3373	59	8	eq	eq	PROPN
fsr-3373	59	9	.	.	PUNCT
fsr-3373	60	1	(	(	PUNCT
fsr-3373	60	2	1	1	NUM
fsr-3373	60	3	):	):	PUNCT
fsr-3373	60	4	lrt	lrt	PROPN
fsr-3373	60	5	xrt	xrt	PROPN
fsr-3373	60	6	�	�	PROPN
fsr-3373	60	7	�	�	PROPN
fsr-3373	60	8	�	�	PROPN
fsr-3373	60	9	t	t	PROPN
fsr-3373	60	10	�	�	PROPN
fsr-3373	60	11	�	�	PROPN
fsr-3373	60	12	2	2	NUM
fsr-3373	60	13	�	�	PROPN
fsr-3373	60	14	�	�	PROPN
fsr-3373	60	15	�	�	PROPN
fsr-3373	60	16	2	2	NUM
fsr-3373	60	17	�	�	PROPN
fsr-3373	60	18	�	�	PROPN
fsr-3373	60	19	�	�	PROPN
fsr-3373	60	20	r	r	NOUN
fsr-3373	60	21	2	2	NUM
fsr-3373	60	22	�	�	PROPN
fsr-3373	60	23	t	t	PROPN
fsr-3373	60	24	�	�	PROPN
fsr-3373	60	25	1	1	NUM
fsr-3373	60	26	�	�	PROPN
fsr-3373	60	27	�	�	PROPN
fsr-3373	60	28	�	�	PROPN
fsr-3373	60	29	r	r	PROPN
fsr-3373	60	30	2	2	NUM
fsr-3373	60	31	�	�	PROPN
fsr-3373	60	32	xrt	xrt	PROPN
fsr-3373	60	33	(	(	PUNCT
fsr-3373	60	34	1	1	NUM
fsr-3373	60	35	)	)	PUNCT
fsr-3373	60	36	where	where	SCONJ
fsr-3373	60	37	lrt	lrt	PROPN
fsr-3373	60	38	is	be	AUX
fsr-3373	60	39	the	the	DET
fsr-3373	60	40	return	return	NOUN
fsr-3373	60	41	to	to	ADP
fsr-3373	60	42	the	the	DET
fsr-3373	60	43	leveraged	leverage	VERB
fsr-3373	60	44	fund	fund	NOUN
fsr-3373	60	45	,	,	PUNCT
fsr-3373	60	46	xrt	xrt	PROPN
fsr-3373	60	47	is	be	AUX
fsr-3373	60	48	the	the	DET
fsr-3373	60	49	underlying	underlying	ADJ
fsr-3373	60	50	index	index	NOUN
fsr-3373	60	51	return	return	NOUN
fsr-3373	60	52	,	,	PUNCT
fsr-3373	60	53	�	�	PROPN
fsr-3373	60	54	is	be	AUX
fsr-3373	60	55	the	the	DET
fsr-3373	60	56	daily	daily	ADJ
fsr-3373	60	57	leverage	leverage	NOUN
fsr-3373	60	58	ratio	ratio	NOUN
fsr-3373	60	59	,	,	PUNCT
fsr-3373	60	60	t	t	PROPN
fsr-3373	60	61	is	be	AUX
fsr-3373	60	62	time	time	NOUN
fsr-3373	60	63	in	in	ADP
fsr-3373	60	64	days	day	NOUN
fsr-3373	60	65	,	,	PUNCT
fsr-3373	60	66	�	�	PROPN
fsr-3373	60	67	r	r	NOUN
fsr-3373	60	68	is	be	AUX
fsr-3373	60	69	the	the	DET
fsr-3373	60	70	mean	mean	ADJ
fsr-3373	60	71	daily	daily	ADJ
fsr-3373	60	72	return	return	NOUN
fsr-3373	60	73	,	,	PUNCT
fsr-3373	60	74	and	and	CCONJ
fsr-3373	60	75	�	�	NOUN
fsr-3373	60	76	r	r	NOUN
fsr-3373	60	77	2	2	NUM
fsr-3373	60	78	is	be	AUX
fsr-3373	60	79	the	the	DET
fsr-3373	60	80	standard	standard	ADJ
fsr-3373	60	81	daily	daily	ADJ
fsr-3373	60	82	389j	389j	PROPN
fsr-3373	60	83	.	.	PUNCT
fsr-3373	61	1	george	george	PROPN
fsr-3373	61	2	,	,	PUNCT
fsr-3373	61	3	w.j	w.j	PROPN
fsr-3373	61	4	.	.	PROPN
fsr-3373	61	5	trainor	trainor	PROPN
fsr-3373	61	6	/	/	SYM
fsr-3373	61	7	financial	financial	ADJ
fsr-3373	61	8	services	service	NOUN
fsr-3373	61	9	review	review	VERB
fsr-3373	61	10	26	26	NUM
fsr-3373	61	11	(	(	PUNCT
fsr-3373	61	12	2017	2017	NUM
fsr-3373	61	13	)	)	PUNCT
fsr-3373	61	14	387–403	387–403	NUM
fsr-3373	61	15	population	population	NOUN
fsr-3373	61	16	variance	variance	NOUN
fsr-3373	61	17	(	(	PUNCT
fsr-3373	61	18	avellaneda	avellaneda	PROPN
fsr-3373	61	19	and	and	CCONJ
fsr-3373	61	20	zhang	zhang	PROPN
fsr-3373	61	21	,	,	PUNCT
fsr-3373	61	22	2010	2010	NUM
fsr-3373	61	23	;	;	PUNCT
fsr-3373	61	24	cheng	cheng	PROPN
fsr-3373	61	25	and	and	CCONJ
fsr-3373	61	26	madhaven	madhaven	ADJ
fsr-3373	61	27	,	,	PUNCT
fsr-3373	61	28	2009	2009	NUM
fsr-3373	61	29	;	;	PUNCT
fsr-3373	61	30	trainor	trainor	NOUN
fsr-3373	61	31	and	and	CCONJ
fsr-3373	61	32	caroll	caroll	PROPN
fsr-3373	61	33	,	,	PUNCT
fsr-3373	61	34	2013	2013	NUM
fsr-3373	61	35	)	)	PUNCT
fsr-3373	61	36	.	.	PUNCT
fsr-3373	62	1	when	when	SCONJ
fsr-3373	62	2	�	�	PROPN
fsr-3373	62	3	�	�	PROPN
fsr-3373	62	4	r	r	NOUN
fsr-3373	62	5	2	2	NUM
fsr-3373	62	6	�	�	PROPN
fsr-3373	62	7	t	t	PROPN
fsr-3373	62	8	�	�	PROPN
fsr-3373	62	9	1	1	NUM
fsr-3373	62	10	�	�	PROPN
fsr-3373	62	11	�	�	PROPN
fsr-3373	62	12	�	�	PROPN
fsr-3373	62	13	r	r	NOUN
fsr-3373	62	14	2	2	NUM
fsr-3373	62	15	�	�	NOUN
fsr-3373	62	16	is	be	AUX
fsr-3373	62	17	negative	negative	ADJ
fsr-3373	62	18	,	,	PUNCT
fsr-3373	62	19	the	the	DET
fsr-3373	62	20	realized	realize	VERB
fsr-3373	62	21	leverage	leverage	NOUN
fsr-3373	62	22	over	over	ADP
fsr-3373	62	23	time	time	NOUN
fsr-3373	62	24	will	will	AUX
fsr-3373	62	25	be	be	AUX
fsr-3373	62	26	less	less	ADJ
fsr-3373	62	27	than	than	ADP
fsr-3373	62	28	the	the	DET
fsr-3373	62	29	daily	daily	ADJ
fsr-3373	62	30	leverage	leverage	NOUN
fsr-3373	62	31	ratio	ratio	NOUN
fsr-3373	62	32	�	�	PROPN
fsr-3373	62	33	.	.	PUNCT
fsr-3373	63	1	this	this	DET
fsr-3373	63	2	effect	effect	NOUN
fsr-3373	63	3	is	be	AUX
fsr-3373	63	4	greater	great	ADJ
fsr-3373	63	5	with	with	ADP
fsr-3373	63	6	higher	high	ADJ
fsr-3373	63	7	leverage	leverage	NOUN
fsr-3373	63	8	since	since	SCONJ
fsr-3373	63	9	a	a	DET
fsr-3373	63	10	daily	daily	ADJ
fsr-3373	63	11	leverage	leverage	NOUN
fsr-3373	63	12	ratio	ratio	NOUN
fsr-3373	63	13	of	of	ADP
fsr-3373	63	14	2x	2x	NUM
fsr-3373	63	15	multiplies	multiplie	NOUN
fsr-3373	63	16	this	this	DET
fsr-3373	63	17	term	term	NOUN
fsr-3373	63	18	by	by	ADP
fsr-3373	63	19	one	one	NUM
fsr-3373	63	20	,	,	PUNCT
fsr-3373	63	21	[	[	X
fsr-3373	63	22	(	(	PUNCT
fsr-3373	63	23	22	22	NUM
fsr-3373	63	24	–	–	PUNCT
fsr-3373	63	25	2)/2	2)/2	NUM
fsr-3373	63	26	]	]	PUNCT
fsr-3373	63	27	,	,	PUNCT
fsr-3373	63	28	but	but	CCONJ
fsr-3373	63	29	a	a	DET
fsr-3373	63	30	daily	daily	ADJ
fsr-3373	63	31	leverage	leverage	NOUN
fsr-3373	63	32	ratio	ratio	NOUN
fsr-3373	63	33	of	of	ADP
fsr-3373	63	34	3x	3x	NUM
fsr-3373	63	35	multiplies	multiplie	NOUN
fsr-3373	63	36	this	this	DET
fsr-3373	63	37	term	term	NOUN
fsr-3373	63	38	by	by	ADP
fsr-3373	63	39	three	three	NUM
fsr-3373	63	40	.	.	PUNCT
fsr-3373	64	1	lu	lu	PROPN
fsr-3373	64	2	,	,	PUNCT
fsr-3373	64	3	wang	wang	PROPN
fsr-3373	64	4	,	,	PUNCT
fsr-3373	64	5	and	and	CCONJ
fsr-3373	64	6	zhang	zhang	PROPN
fsr-3373	64	7	(	(	PUNCT
fsr-3373	64	8	2012	2012	NUM
fsr-3373	64	9	)	)	PUNCT
fsr-3373	64	10	generalized	generalize	VERB
fsr-3373	64	11	this	this	DET
fsr-3373	64	12	leverage	leverage	NOUN
fsr-3373	64	13	decay	decay	NOUN
fsr-3373	64	14	and	and	CCONJ
fsr-3373	64	15	suggest	suggest	VERB
fsr-3373	64	16	over	over	ADP
fsr-3373	64	17	holding	hold	VERB
fsr-3373	64	18	periods	period	NOUN
fsr-3373	64	19	no	no	ADV
fsr-3373	64	20	greater	great	ADJ
fsr-3373	64	21	than	than	ADP
fsr-3373	64	22	one	one	NUM
fsr-3373	64	23	month	month	NOUN
fsr-3373	64	24	,	,	PUNCT
fsr-3373	64	25	an	an	DET
fsr-3373	64	26	investor	investor	NOUN
fsr-3373	64	27	can	can	AUX
fsr-3373	64	28	assume	assume	VERB
fsr-3373	64	29	that	that	SCONJ
fsr-3373	64	30	a	a	DET
fsr-3373	64	31	2x/-2x	2x/-2x	NUM
fsr-3373	64	32	letf	letf	NOUN
fsr-3373	64	33	will	will	AUX
fsr-3373	64	34	maintain	maintain	VERB
fsr-3373	64	35	its	its	PRON
fsr-3373	64	36	leverage	leverage	NOUN
fsr-3373	64	37	ratio	ratio	NOUN
fsr-3373	64	38	and	and	CCONJ
fsr-3373	64	39	provide	provide	VERB
fsr-3373	64	40	the	the	DET
fsr-3373	64	41	expected	expect	VERB
fsr-3373	64	42	return	return	NOUN
fsr-3373	64	43	applied	apply	VERB
fsr-3373	64	44	to	to	ADP
fsr-3373	64	45	the	the	DET
fsr-3373	64	46	underlying	underlying	ADJ
fsr-3373	64	47	index	index	NOUN
fsr-3373	64	48	.	.	PUNCT
fsr-3373	65	1	most	most	ADJ
fsr-3373	65	2	research	research	NOUN
fsr-3373	65	3	generally	generally	ADV
fsr-3373	65	4	concludes	conclude	VERB
fsr-3373	65	5	letfs	letfs	PROPN
fsr-3373	65	6	should	should	AUX
fsr-3373	65	7	be	be	AUX
fsr-3373	65	8	used	use	VERB
fsr-3373	65	9	for	for	ADP
fsr-3373	65	10	short	short	ADJ
fsr-3373	65	11	-	-	PUNCT
fsr-3373	65	12	term	term	NOUN
fsr-3373	65	13	trading	trading	NOUN
fsr-3373	65	14	strategies	strategy	NOUN
fsr-3373	65	15	only	only	ADV
fsr-3373	65	16	,	,	PUNCT
fsr-3373	65	17	and	and	CCONJ
fsr-3373	65	18	the	the	DET
fsr-3373	65	19	providers	provider	NOUN
fsr-3373	65	20	market	market	VERB
fsr-3373	65	21	them	they	PRON
fsr-3373	65	22	as	as	ADP
fsr-3373	65	23	such	such	ADJ
fsr-3373	65	24	.	.	PUNCT
fsr-3373	66	1	however	however	ADV
fsr-3373	66	2	,	,	PUNCT
fsr-3373	66	3	if	if	SCONJ
fsr-3373	66	4	the	the	DET
fsr-3373	66	5	trend	trend	NOUN
fsr-3373	66	6	�	�	PROPN
fsr-3373	66	7	is	be	AUX
fsr-3373	66	8	high	high	ADJ
fsr-3373	66	9	enough	enough	ADV
fsr-3373	66	10	,	,	PUNCT
fsr-3373	66	11	trainor	trainor	NOUN
fsr-3373	66	12	(	(	PUNCT
fsr-3373	66	13	2011	2011	NUM
fsr-3373	66	14	)	)	PUNCT
fsr-3373	66	15	shows	show	VERB
fsr-3373	66	16	an	an	DET
fsr-3373	66	17	investor	investor	NOUN
fsr-3373	66	18	can	can	AUX
fsr-3373	66	19	end	end	VERB
fsr-3373	66	20	up	up	ADP
fsr-3373	66	21	with	with	ADP
fsr-3373	66	22	a	a	DET
fsr-3373	66	23	great	great	ADJ
fsr-3373	66	24	deal	deal	NOUN
fsr-3373	66	25	more	more	ADJ
fsr-3373	66	26	than	than	SCONJ
fsr-3373	66	27	the	the	DET
fsr-3373	66	28	daily	daily	ADJ
fsr-3373	66	29	leverage	leverage	NOUN
fsr-3373	66	30	ratio	ratio	NOUN
fsr-3373	66	31	might	might	AUX
fsr-3373	66	32	indicate	indicate	VERB
fsr-3373	66	33	.	.	PUNCT
fsr-3373	67	1	a	a	DET
fsr-3373	67	2	perfect	perfect	ADJ
fsr-3373	67	3	example	example	NOUN
fsr-3373	67	4	of	of	ADP
fsr-3373	67	5	this	this	PRON
fsr-3373	67	6	is	be	AUX
fsr-3373	67	7	proshare	proshare	NOUN
fsr-3373	67	8	’s	’s	PART
fsr-3373	67	9	3.0x	3.0x	NUM
fsr-3373	67	10	ultrapro	ultrapro	ADJ
fsr-3373	67	11	(	(	PUNCT
fsr-3373	67	12	upro	upro	PROPN
fsr-3373	67	13	)	)	PUNCT
fsr-3373	67	14	fund	fund	NOUN
fsr-3373	67	15	that	that	PRON
fsr-3373	67	16	magnifies	magnify	VERB
fsr-3373	67	17	the	the	DET
fsr-3373	67	18	daily	daily	ADJ
fsr-3373	67	19	return	return	NOUN
fsr-3373	67	20	of	of	ADP
fsr-3373	67	21	the	the	DET
fsr-3373	67	22	s&p	s&p	PROPN
fsr-3373	67	23	500	500	NUM
fsr-3373	67	24	.	.	PUNCT
fsr-3373	68	1	since	since	SCONJ
fsr-3373	68	2	the	the	DET
fsr-3373	68	3	fund	fund	NOUN
fsr-3373	68	4	was	be	AUX
fsr-3373	68	5	introduced	introduce	VERB
fsr-3373	68	6	in	in	ADP
fsr-3373	68	7	june	june	PROPN
fsr-3373	68	8	of	of	ADP
fsr-3373	68	9	2009	2009	NUM
fsr-3373	68	10	,	,	PUNCT
fsr-3373	68	11	the	the	DET
fsr-3373	68	12	s&p	s&p	PROPN
fsr-3373	68	13	500	500	NUM
fsr-3373	68	14	increased	increase	VERB
fsr-3373	68	15	183	183	NUM
fsr-3373	68	16	%	%	NOUN
fsr-3373	68	17	through	through	ADP
fsr-3373	68	18	december	december	PROPN
fsr-3373	68	19	2016	2016	NUM
fsr-3373	68	20	,	,	PUNCT
fsr-3373	68	21	while	while	SCONJ
fsr-3373	68	22	the	the	DET
fsr-3373	68	23	3.0x	3.0x	NUM
fsr-3373	68	24	fund	fund	NOUN
fsr-3373	68	25	increased	increase	VERB
fsr-3373	68	26	1,045	1,045	NUM
fsr-3373	68	27	%	%	NOUN
fsr-3373	68	28	for	for	ADP
fsr-3373	68	29	an	an	DET
fsr-3373	68	30	effective	effective	ADJ
fsr-3373	68	31	ratio	ratio	NOUN
fsr-3373	68	32	of	of	ADP
fsr-3373	68	33	5.7x	5.7x	NUM
fsr-3373	68	34	.	.	PUNCT
fsr-3373	69	1	this	this	PRON
fsr-3373	69	2	occurred	occur	VERB
fsr-3373	69	3	over	over	ADP
fsr-3373	69	4	a	a	DET
fsr-3373	69	5	period	period	NOUN
fsr-3373	69	6	with	with	ADP
fsr-3373	69	7	high	high	ADJ
fsr-3373	69	8	return	return	NOUN
fsr-3373	69	9	trend	trend	NOUN
fsr-3373	69	10	and	and	CCONJ
fsr-3373	69	11	lower	low	ADJ
fsr-3373	69	12	than	than	ADP
fsr-3373	69	13	average	average	ADJ
fsr-3373	69	14	volatility	volatility	NOUN
fsr-3373	69	15	.	.	PUNCT
fsr-3373	70	1	within	within	ADP
fsr-3373	70	2	a	a	DET
fsr-3373	70	3	portfolio	portfolio	NOUN
fsr-3373	70	4	setting	setting	NOUN
fsr-3373	70	5	,	,	PUNCT
fsr-3373	70	6	dilellio	dilellio	NOUN
fsr-3373	70	7	,	,	PUNCT
fsr-3373	70	8	hesse	hesse	PROPN
fsr-3373	70	9	,	,	PUNCT
fsr-3373	70	10	and	and	CCONJ
fsr-3373	70	11	stanley	stanley	PROPN
fsr-3373	70	12	(	(	PUNCT
fsr-3373	70	13	2014	2014	NUM
fsr-3373	70	14	)	)	PUNCT
fsr-3373	70	15	suggest	suggest	VERB
fsr-3373	70	16	there	there	PRON
fsr-3373	70	17	may	may	AUX
fsr-3373	70	18	be	be	AUX
fsr-3373	70	19	a	a	DET
fsr-3373	70	20	place	place	NOUN
fsr-3373	70	21	for	for	ADP
fsr-3373	70	22	long	long	ADJ
fsr-3373	70	23	-	-	PUNCT
fsr-3373	70	24	term	term	NOUN
fsr-3373	70	25	holdings	holding	NOUN
fsr-3373	70	26	of	of	ADP
fsr-3373	70	27	letfs	letfs	PROPN
fsr-3373	70	28	as	as	SCONJ
fsr-3373	70	29	their	their	PRON
fsr-3373	70	30	results	result	NOUN
fsr-3373	70	31	show	show	VERB
fsr-3373	70	32	letfs	letfs	PROPN
fsr-3373	70	33	may	may	AUX
fsr-3373	70	34	reduce	reduce	VERB
fsr-3373	70	35	a	a	DET
fsr-3373	70	36	portfolio	portfolio	NOUN
fsr-3373	70	37	’s	’s	PART
fsr-3373	70	38	standard	standard	ADJ
fsr-3373	70	39	deviation	deviation	NOUN
fsr-3373	70	40	.	.	PUNCT
fsr-3373	71	1	from	from	ADP
fsr-3373	71	2	an	an	DET
fsr-3373	71	3	option	option	NOUN
fsr-3373	71	4	based	base	VERB
fsr-3373	71	5	portfolio	portfolio	NOUN
fsr-3373	71	6	insurance	insurance	NOUN
fsr-3373	71	7	strategy	strategy	NOUN
fsr-3373	71	8	,	,	PUNCT
fsr-3373	71	9	trainor	trainor	NOUN
fsr-3373	71	10	and	and	CCONJ
fsr-3373	71	11	gregory	gregory	PROPN
fsr-3373	71	12	(	(	PUNCT
fsr-3373	71	13	2016	2016	NUM
fsr-3373	71	14	)	)	PUNCT
fsr-3373	71	15	show	show	VERB
fsr-3373	71	16	the	the	DET
fsr-3373	71	17	results	result	NOUN
fsr-3373	71	18	of	of	ADP
fsr-3373	71	19	using	use	VERB
fsr-3373	71	20	covered	covered	ADJ
fsr-3373	71	21	calls	call	NOUN
fsr-3373	71	22	and	and	CCONJ
fsr-3373	71	23	protective	protective	ADJ
fsr-3373	71	24	puts	put	NOUN
fsr-3373	71	25	with	with	ADP
fsr-3373	71	26	letfs	letfs	PROPN
fsr-3373	71	27	.	.	PUNCT
fsr-3373	72	1	both	both	DET
fsr-3373	72	2	strategies	strategy	NOUN
fsr-3373	72	3	reduce	reduce	VERB
fsr-3373	72	4	risk	risk	NOUN
fsr-3373	72	5	,	,	PUNCT
fsr-3373	72	6	but	but	CCONJ
fsr-3373	72	7	significant	significant	ADJ
fsr-3373	72	8	returns	return	NOUN
fsr-3373	72	9	are	be	AUX
fsr-3373	72	10	often	often	ADV
fsr-3373	72	11	sacrificed	sacrifice	VERB
fsr-3373	72	12	.	.	PUNCT
fsr-3373	73	1	scott	scott	PROPN
fsr-3373	73	2	and	and	CCONJ
fsr-3373	73	3	watsun	watsun	PROPN
fsr-3373	73	4	(	(	PUNCT
fsr-3373	73	5	2013	2013	NUM
fsr-3373	73	6	)	)	PUNCT
fsr-3373	73	7	suggest	suggest	VERB
fsr-3373	73	8	a	a	DET
fsr-3373	73	9	floor	floor	NOUN
fsr-3373	73	10	-	-	PUNCT
fsr-3373	73	11	leverage	leverage	NOUN
fsr-3373	73	12	rule	rule	NOUN
fsr-3373	73	13	where	where	SCONJ
fsr-3373	73	14	an	an	DET
fsr-3373	73	15	investor	investor	NOUN
fsr-3373	73	16	places	place	VERB
fsr-3373	73	17	85	85	NUM
fsr-3373	73	18	%	%	NOUN
fsr-3373	73	19	of	of	ADP
fsr-3373	73	20	wealth	wealth	NOUN
fsr-3373	73	21	in	in	ADP
fsr-3373	73	22	a	a	DET
fsr-3373	73	23	risk	risk	NOUN
fsr-3373	73	24	-	-	PUNCT
fsr-3373	73	25	free	free	ADJ
fsr-3373	73	26	asset	asset	NOUN
fsr-3373	73	27	and	and	CCONJ
fsr-3373	73	28	15	15	NUM
fsr-3373	73	29	%	%	NOUN
fsr-3373	73	30	in	in	ADP
fsr-3373	73	31	a	a	DET
fsr-3373	73	32	3x	3x	NUM
fsr-3373	73	33	letf	letf	NOUN
fsr-3373	73	34	.	.	PUNCT
fsr-3373	74	1	with	with	ADP
fsr-3373	74	2	annual	annual	ADJ
fsr-3373	74	3	rebalancing	rebalancing	NOUN
fsr-3373	74	4	,	,	PUNCT
fsr-3373	74	5	they	they	PRON
fsr-3373	74	6	find	find	VERB
fsr-3373	74	7	this	this	DET
fsr-3373	74	8	strategy	strategy	NOUN
fsr-3373	74	9	can	can	AUX
fsr-3373	74	10	be	be	AUX
fsr-3373	74	11	used	use	VERB
fsr-3373	74	12	to	to	PART
fsr-3373	74	13	manage	manage	VERB
fsr-3373	74	14	risk	risk	NOUN
fsr-3373	74	15	and	and	CCONJ
fsr-3373	74	16	appears	appear	VERB
fsr-3373	74	17	to	to	PART
fsr-3373	74	18	be	be	AUX
fsr-3373	74	19	optimal	optimal	ADJ
fsr-3373	74	20	for	for	ADP
fsr-3373	74	21	sustainable	sustainable	ADJ
fsr-3373	74	22	investment	investment	NOUN
fsr-3373	74	23	in	in	ADP
fsr-3373	74	24	retirement	retirement	NOUN
fsr-3373	74	25	.	.	PUNCT
fsr-3373	75	1	this	this	DET
fsr-3373	75	2	study	study	NOUN
fsr-3373	75	3	considers	consider	VERB
fsr-3373	75	4	the	the	DET
fsr-3373	75	5	use	use	NOUN
fsr-3373	75	6	of	of	ADP
fsr-3373	75	7	letfs	letfs	PROPN
fsr-3373	75	8	in	in	ADP
fsr-3373	75	9	a	a	DET
fsr-3373	75	10	cppi	cppi	NOUN
fsr-3373	75	11	context	context	NOUN
fsr-3373	75	12	.	.	PUNCT
fsr-3373	76	1	the	the	DET
fsr-3373	76	2	logic	logic	NOUN
fsr-3373	76	3	for	for	ADP
fsr-3373	76	4	using	use	VERB
fsr-3373	76	5	letfs	letfs	NOUN
fsr-3373	76	6	within	within	ADP
fsr-3373	76	7	a	a	DET
fsr-3373	76	8	cppi	cppi	NOUN
fsr-3373	76	9	setting	set	VERB
fsr-3373	76	10	is	be	AUX
fsr-3373	76	11	straight	straight	ADV
fsr-3373	76	12	forward	forward	ADV
fsr-3373	76	13	.	.	PUNCT
fsr-3373	77	1	in	in	ADP
fsr-3373	77	2	a	a	DET
fsr-3373	77	3	standard	standard	ADJ
fsr-3373	77	4	cppi	cppi	NOUN
fsr-3373	77	5	portfolio	portfolio	NOUN
fsr-3373	77	6	,	,	PUNCT
fsr-3373	77	7	the	the	DET
fsr-3373	77	8	investor	investor	NOUN
fsr-3373	77	9	may	may	AUX
fsr-3373	77	10	start	start	VERB
fsr-3373	77	11	out	out	ADP
fsr-3373	77	12	with	with	ADP
fsr-3373	77	13	50	50	NUM
fsr-3373	77	14	%	%	NOUN
fsr-3373	77	15	in	in	ADP
fsr-3373	77	16	the	the	DET
fsr-3373	77	17	risk	risk	NOUN
fsr-3373	77	18	-	-	PUNCT
fsr-3373	77	19	free	free	ADJ
fsr-3373	77	20	rate	rate	NOUN
fsr-3373	77	21	and	and	CCONJ
fsr-3373	77	22	50	50	NUM
fsr-3373	77	23	%	%	NOUN
fsr-3373	77	24	in	in	ADP
fsr-3373	77	25	the	the	DET
fsr-3373	77	26	risky	risky	ADJ
fsr-3373	77	27	asset	asset	NOUN
fsr-3373	77	28	.	.	PUNCT
fsr-3373	78	1	with	with	ADP
fsr-3373	78	2	a	a	DET
fsr-3373	78	3	2x	2x	NUM
fsr-3373	78	4	letf	letf	NOUN
fsr-3373	78	5	,	,	PUNCT
fsr-3373	78	6	the	the	DET
fsr-3373	78	7	investor	investor	NOUN
fsr-3373	78	8	only	only	ADV
fsr-3373	78	9	needs	need	VERB
fsr-3373	78	10	to	to	PART
fsr-3373	78	11	invest	invest	VERB
fsr-3373	78	12	25	25	NUM
fsr-3373	78	13	%	%	NOUN
fsr-3373	78	14	in	in	ADP
fsr-3373	78	15	the	the	DET
fsr-3373	78	16	letf	letf	ADJ
fsr-3373	78	17	leaving	leave	VERB
fsr-3373	78	18	75	75	NUM
fsr-3373	78	19	%	%	NOUN
fsr-3373	78	20	to	to	PART
fsr-3373	78	21	earn	earn	VERB
fsr-3373	78	22	the	the	DET
fsr-3373	78	23	risk	risk	NOUN
fsr-3373	78	24	-	-	PUNCT
fsr-3373	78	25	free	free	ADJ
fsr-3373	78	26	rate	rate	NOUN
fsr-3373	78	27	.	.	PUNCT
fsr-3373	79	1	if	if	SCONJ
fsr-3373	79	2	a	a	DET
fsr-3373	79	3	4.0x	4.0x	NUM
fsr-3373	79	4	letf	letf	NOUN
fsr-3373	79	5	becomes	become	VERB
fsr-3373	79	6	available	available	ADJ
fsr-3373	79	7	,	,	PUNCT
fsr-3373	79	8	only	only	ADV
fsr-3373	79	9	12.5	12.5	NUM
fsr-3373	79	10	%	%	NOUN
fsr-3373	79	11	is	be	AUX
fsr-3373	79	12	needed	need	VERB
fsr-3373	79	13	.	.	PUNCT
fsr-3373	80	1	if	if	SCONJ
fsr-3373	80	2	the	the	DET
fsr-3373	80	3	benefits	benefit	NOUN
fsr-3373	80	4	of	of	ADP
fsr-3373	80	5	the	the	DET
fsr-3373	80	6	additional	additional	ADJ
fsr-3373	80	7	return	return	NOUN
fsr-3373	80	8	from	from	ADP
fsr-3373	80	9	having	have	VERB
fsr-3373	80	10	a	a	DET
fsr-3373	80	11	greater	great	ADJ
fsr-3373	80	12	percentage	percentage	NOUN
fsr-3373	80	13	of	of	ADP
fsr-3373	80	14	the	the	DET
fsr-3373	80	15	portfolio	portfolio	NOUN
fsr-3373	80	16	in	in	ADP
fsr-3373	80	17	the	the	DET
fsr-3373	80	18	risk	risk	NOUN
fsr-3373	80	19	-	-	PUNCT
fsr-3373	80	20	free	free	ADJ
fsr-3373	80	21	asset	asset	NOUN
fsr-3373	80	22	exceeds	exceed	VERB
fsr-3373	80	23	letf	letf	ADJ
fsr-3373	80	24	’s	’s	PART
fsr-3373	80	25	decay	decay	NOUN
fsr-3373	80	26	and	and	CCONJ
fsr-3373	80	27	higher	high	ADJ
fsr-3373	80	28	expenses	expense	NOUN
fsr-3373	80	29	,	,	PUNCT
fsr-3373	80	30	then	then	ADV
fsr-3373	80	31	a	a	DET
fsr-3373	80	32	cppi	cppi	NOUN
fsr-3373	80	33	using	use	VERB
fsr-3373	80	34	letfs	letfs	PROPN
fsr-3373	80	35	will	will	AUX
fsr-3373	80	36	outperform	outperform	VERB
fsr-3373	80	37	a	a	DET
fsr-3373	80	38	standard	standard	ADJ
fsr-3373	80	39	cppi	cppi	NOUN
fsr-3373	80	40	strategy	strategy	NOUN
fsr-3373	80	41	using	use	VERB
fsr-3373	80	42	the	the	DET
fsr-3373	80	43	underlying	underlying	ADJ
fsr-3373	80	44	index	index	NOUN
fsr-3373	80	45	.	.	PUNCT
fsr-3373	81	1	this	this	DET
fsr-3373	81	2	study	study	NOUN
fsr-3373	81	3	determines	determine	VERB
fsr-3373	81	4	this	this	PRON
fsr-3373	81	5	is	be	AUX
fsr-3373	81	6	indeed	indeed	ADV
fsr-3373	81	7	the	the	DET
fsr-3373	81	8	case	case	NOUN
fsr-3373	81	9	when	when	SCONJ
fsr-3373	81	10	the	the	DET
fsr-3373	81	11	risk	risk	NOUN
fsr-3373	81	12	-	-	PUNCT
fsr-3373	81	13	free	free	ADJ
fsr-3373	81	14	asset	asset	NOUN
fsr-3373	81	15	yields	yield	NOUN
fsr-3373	81	16	at	at	ADV
fsr-3373	81	17	least	least	ADV
fsr-3373	81	18	3	3	NUM
fsr-3373	81	19	%	%	NOUN
fsr-3373	81	20	or	or	CCONJ
fsr-3373	81	21	the	the	DET
fsr-3373	81	22	one	one	NUM
fsr-3373	81	23	year	year	NOUN
fsr-3373	81	24	minus	minus	CCONJ
fsr-3373	81	25	90	90	NUM
fsr-3373	81	26	-	-	PUNCT
fsr-3373	81	27	day	day	NOUN
fsr-3373	81	28	treasury	treasury	NOUN
fsr-3373	81	29	exceeds	exceed	VERB
fsr-3373	81	30	1	1	NUM
fsr-3373	81	31	%	%	NOUN
fsr-3373	81	32	.	.	PUNCT
fsr-3373	82	1	3	3	X
fsr-3373	82	2	.	.	X
fsr-3373	82	3	methodology	methodology	NOUN
fsr-3373	82	4	this	this	DET
fsr-3373	82	5	study	study	NOUN
fsr-3373	82	6	explores	explore	VERB
fsr-3373	82	7	the	the	DET
fsr-3373	82	8	benefits	benefit	NOUN
fsr-3373	82	9	of	of	ADP
fsr-3373	82	10	letfs	letfs	PROPN
fsr-3373	82	11	within	within	ADP
fsr-3373	82	12	a	a	DET
fsr-3373	82	13	cppi	cppi	NOUN
fsr-3373	82	14	format	format	NOUN
fsr-3373	82	15	.	.	PUNCT
fsr-3373	83	1	the	the	DET
fsr-3373	83	2	s&p	s&p	PROPN
fsr-3373	83	3	500	500	NUM
fsr-3373	83	4	is	be	AUX
fsr-3373	83	5	used	use	VERB
fsr-3373	83	6	as	as	ADP
fsr-3373	83	7	the	the	DET
fsr-3373	83	8	underlying	underlying	ADJ
fsr-3373	83	9	index	index	NOUN
fsr-3373	83	10	and	and	CCONJ
fsr-3373	83	11	the	the	DET
fsr-3373	83	12	1	1	NUM
fsr-3373	83	13	-	-	PUNCT
fsr-3373	83	14	year	year	NOUN
fsr-3373	83	15	treasury	treasury	NOUN
fsr-3373	83	16	is	be	AUX
fsr-3373	83	17	set	set	VERB
fsr-3373	83	18	as	as	ADP
fsr-3373	83	19	the	the	DET
fsr-3373	83	20	risk	risk	NOUN
fsr-3373	83	21	-	-	PUNCT
fsr-3373	83	22	free	free	ADJ
fsr-3373	83	23	asset	asset	NOUN
fsr-3373	83	24	.	.	PUNCT
fsr-3373	84	1	four	four	NUM
fsr-3373	84	2	different	different	ADJ
fsr-3373	84	3	cppis	cppi	VERB
fsr-3373	84	4	labeled	label	VERB
fsr-3373	84	5	cppi	cppi	PROPN
fsr-3373	84	6	s&p	s&p	PROPN
fsr-3373	84	7	,	,	PUNCT
fsr-3373	84	8	cppi	cppi	NOUN
fsr-3373	84	9	2x	2x	NUM
fsr-3373	84	10	,	,	PUNCT
fsr-3373	84	11	cppi	cppi	NOUN
fsr-3373	84	12	3x	3x	NUM
fsr-3373	84	13	,	,	PUNCT
fsr-3373	84	14	and	and	CCONJ
fsr-3373	84	15	cppi	cppi	PROPN
fsr-3373	84	16	4x	4x	NOUN
fsr-3373	84	17	are	be	AUX
fsr-3373	84	18	compared	compare	VERB
fsr-3373	84	19	using	use	VERB
fsr-3373	84	20	a	a	DET
fsr-3373	84	21	90	90	NUM
fsr-3373	84	22	%	%	NOUN
fsr-3373	84	23	floor	floor	NOUN
fsr-3373	84	24	.	.	PUNCT
fsr-3373	85	1	although	although	SCONJ
fsr-3373	85	2	there	there	PRON
fsr-3373	85	3	currently	currently	ADV
fsr-3373	85	4	are	be	AUX
fsr-3373	85	5	no	no	DET
fsr-3373	85	6	4x	4x	NUM
fsr-3373	85	7	funds	fund	NOUN
fsr-3373	85	8	,	,	PUNCT
fsr-3373	85	9	both	both	DET
fsr-3373	85	10	forceshares	forceshare	NOUN
fsr-3373	85	11	and	and	CCONJ
fsr-3373	85	12	proshares	proshare	NOUN
fsr-3373	85	13	have	have	AUX
fsr-3373	85	14	proposed	propose	VERB
fsr-3373	85	15	them	they	PRON
fsr-3373	85	16	.	.	PUNCT
fsr-3373	86	1	the	the	DET
fsr-3373	86	2	90	90	NUM
fsr-3373	86	3	%	%	NOUN
fsr-3373	86	4	floor	floor	NOUN
fsr-3373	86	5	is	be	AUX
fsr-3373	86	6	used	use	VERB
fsr-3373	86	7	to	to	PART
fsr-3373	86	8	account	account	VERB
fsr-3373	86	9	for	for	ADP
fsr-3373	86	10	a	a	DET
fsr-3373	86	11	typical	typical	ADJ
fsr-3373	86	12	50/50	50/50	NUM
fsr-3373	86	13	stock	stock	NOUN
fsr-3373	86	14	/	/	SYM
fsr-3373	86	15	bond	bond	NOUN
fsr-3373	86	16	portfolio	portfolio	NOUN
fsr-3373	86	17	where	where	SCONJ
fsr-3373	86	18	an	an	DET
fsr-3373	86	19	investor	investor	NOUN
fsr-3373	86	20	wants	want	VERB
fsr-3373	86	21	to	to	PART
fsr-3373	86	22	limit	limit	VERB
fsr-3373	86	23	a	a	DET
fsr-3373	86	24	stock	stock	NOUN
fsr-3373	86	25	loss	loss	NOUN
fsr-3373	86	26	to	to	ADP
fsr-3373	86	27	approximately	approximately	ADV
fsr-3373	86	28	20	20	NUM
fsr-3373	86	29	%	%	NOUN
fsr-3373	86	30	over	over	ADP
fsr-3373	86	31	any	any	DET
fsr-3373	86	32	given	give	VERB
fsr-3373	86	33	year	year	NOUN
fsr-3373	86	34	.	.	PUNCT
fsr-3373	87	1	assuming	assume	VERB
fsr-3373	87	2	no	no	DET
fsr-3373	87	3	change	change	NOUN
fsr-3373	87	4	in	in	ADP
fsr-3373	87	5	the	the	DET
fsr-3373	87	6	value	value	NOUN
fsr-3373	87	7	of	of	ADP
fsr-3373	87	8	a	a	DET
fsr-3373	87	9	bond	bond	NOUN
fsr-3373	87	10	fund	fund	NOUN
fsr-3373	87	11	,	,	PUNCT
fsr-3373	87	12	a	a	DET
fsr-3373	87	13	20	20	NUM
fsr-3373	87	14	%	%	NOUN
fsr-3373	87	15	loss	loss	NOUN
fsr-3373	87	16	in	in	ADP
fsr-3373	87	17	equities	equity	NOUN
fsr-3373	87	18	would	would	AUX
fsr-3373	87	19	hit	hit	VERB
fsr-3373	87	20	a	a	DET
fsr-3373	87	21	90	90	NUM
fsr-3373	87	22	%	%	NOUN
fsr-3373	87	23	floor	floor	NOUN
fsr-3373	87	24	value	value	NOUN
fsr-3373	87	25	.	.	PUNCT
fsr-3373	88	1	390	390	NUM
fsr-3373	88	2	j.	j.	PROPN
fsr-3373	88	3	george	george	PROPN
fsr-3373	88	4	,	,	PUNCT
fsr-3373	88	5	w.j	w.j	PROPN
fsr-3373	88	6	.	.	PROPN
fsr-3373	88	7	trainor	trainor	PROPN
fsr-3373	88	8	/	/	SYM
fsr-3373	88	9	financial	financial	ADJ
fsr-3373	88	10	services	service	NOUN
fsr-3373	88	11	review	review	VERB
fsr-3373	88	12	26	26	NUM
fsr-3373	88	13	(	(	PUNCT
fsr-3373	88	14	2017	2017	NUM
fsr-3373	88	15	)	)	PUNCT
fsr-3373	88	16	387–403	387–403	NUM
fsr-3373	88	17	the	the	DET
fsr-3373	88	18	proportion	proportion	NOUN
fsr-3373	88	19	in	in	ADP
fsr-3373	88	20	the	the	DET
fsr-3373	88	21	risky	risky	ADJ
fsr-3373	88	22	asset	asset	NOUN
fsr-3373	88	23	for	for	ADP
fsr-3373	88	24	the	the	DET
fsr-3373	88	25	cppi	cppi	NOUN
fsr-3373	88	26	s&p	s&p	PROPN
fsr-3373	88	27	at	at	ADP
fsr-3373	88	28	time	time	NOUN
fsr-3373	88	29	t	t	PROPN
fsr-3373	88	30	is	be	AUX
fsr-3373	88	31	calculated	calculate	VERB
fsr-3373	88	32	as	as	ADP
fsr-3373	88	33	the	the	DET
fsr-3373	88	34	max{min[(m(vp	max{min[(m(vp	PROPN
fsr-3373	88	35	–	–	PUNCT
fsr-3373	88	36	f),vp],0}/vp	f),vp],0}/vp	VERB
fsr-3373	88	37	where	where	SCONJ
fsr-3373	88	38	m	m	NOUN
fsr-3373	88	39	is	be	AUX
fsr-3373	88	40	the	the	DET
fsr-3373	88	41	multiplier	multipli	ADJ
fsr-3373	88	42	,	,	PUNCT
fsr-3373	88	43	vp	vp	PROPN
fsr-3373	88	44	is	be	AUX
fsr-3373	88	45	the	the	DET
fsr-3373	88	46	value	value	NOUN
fsr-3373	88	47	of	of	ADP
fsr-3373	88	48	the	the	DET
fsr-3373	88	49	portfolio	portfolio	NOUN
fsr-3373	88	50	,	,	PUNCT
fsr-3373	88	51	and	and	CCONJ
fsr-3373	88	52	f	f	PROPN
fsr-3373	88	53	is	be	AUX
fsr-3373	88	54	the	the	DET
fsr-3373	88	55	floor	floor	NOUN
fsr-3373	88	56	.	.	PUNCT
fsr-3373	89	1	the	the	DET
fsr-3373	89	2	index	index	NOUN
fsr-3373	89	3	multiplier	multiplier	ADV
fsr-3373	89	4	is	be	AUX
fsr-3373	89	5	set	set	VERB
fsr-3373	89	6	at	at	ADP
fsr-3373	89	7	5	5	NUM
fsr-3373	89	8	which	which	PRON
fsr-3373	89	9	implies	imply	VERB
fsr-3373	89	10	an	an	DET
fsr-3373	89	11	initial	initial	ADJ
fsr-3373	89	12	50	50	NUM
fsr-3373	89	13	%	%	NOUN
fsr-3373	89	14	investment	investment	NOUN
fsr-3373	89	15	in	in	ADP
fsr-3373	89	16	the	the	DET
fsr-3373	89	17	risky	risky	ADJ
fsr-3373	89	18	asset	asset	NOUN
fsr-3373	89	19	.	.	PUNCT
fsr-3373	90	1	following	follow	VERB
fsr-3373	90	2	cesari	cesari	NOUN
fsr-3373	90	3	and	and	CCONJ
fsr-3373	90	4	cremonini	cremonini	PROPN
fsr-3373	90	5	(	(	PUNCT
fsr-3373	90	6	2003	2003	NUM
fsr-3373	90	7	)	)	PUNCT
fsr-3373	90	8	,	,	PUNCT
fsr-3373	90	9	the	the	DET
fsr-3373	90	10	portfolio	portfolio	NOUN
fsr-3373	90	11	is	be	AUX
fsr-3373	90	12	rebalanced	rebalance	VERB
fsr-3373	90	13	only	only	ADV
fsr-3373	90	14	when	when	SCONJ
fsr-3373	90	15	the	the	DET
fsr-3373	90	16	underlying	underlying	ADJ
fsr-3373	90	17	risky	risky	ADJ
fsr-3373	90	18	-	-	PUNCT
fsr-3373	90	19	asset	asset	NOUN
fsr-3373	90	20	(	(	PUNCT
fsr-3373	90	21	the	the	DET
fsr-3373	90	22	s&p	s&p	PROPN
fsr-3373	90	23	500	500	NUM
fsr-3373	90	24	in	in	ADP
fsr-3373	90	25	this	this	DET
fsr-3373	90	26	study	study	NOUN
fsr-3373	90	27	)	)	PUNCT
fsr-3373	90	28	increases	increase	NOUN
fsr-3373	90	29	or	or	CCONJ
fsr-3373	90	30	decreases	decrease	NOUN
fsr-3373	90	31	by	by	ADP
fsr-3373	90	32	2.5	2.5	NUM
fsr-3373	90	33	%	%	NOUN
fsr-3373	90	34	since	since	SCONJ
fsr-3373	90	35	the	the	DET
fsr-3373	90	36	last	last	ADJ
fsr-3373	90	37	rebalance	rebalance	NOUN
fsr-3373	90	38	.	.	PUNCT
fsr-3373	91	1	rebalancing	rebalancing	NOUN
fsr-3373	91	2	once	once	ADV
fsr-3373	91	3	a	a	DET
fsr-3373	91	4	week	week	NOUN
fsr-3373	91	5	or	or	CCONJ
fsr-3373	91	6	once	once	ADV
fsr-3373	91	7	a	a	DET
fsr-3373	91	8	month	month	NOUN
fsr-3373	91	9	is	be	AUX
fsr-3373	91	10	also	also	ADV
fsr-3373	91	11	tested	test	VERB
fsr-3373	91	12	.	.	PUNCT
fsr-3373	92	1	for	for	ADP
fsr-3373	92	2	the	the	DET
fsr-3373	92	3	latter	latter	ADJ
fsr-3373	92	4	,	,	PUNCT
fsr-3373	92	5	even	even	ADV
fsr-3373	92	6	if	if	SCONJ
fsr-3373	92	7	the	the	DET
fsr-3373	92	8	market	market	NOUN
fsr-3373	92	9	sheds	shed	VERB
fsr-3373	92	10	20	20	NUM
fsr-3373	92	11	%	%	NOUN
fsr-3373	92	12	over	over	ADP
fsr-3373	92	13	the	the	DET
fsr-3373	92	14	month	month	NOUN
fsr-3373	92	15	,	,	PUNCT
fsr-3373	92	16	the	the	DET
fsr-3373	92	17	floor	floor	NOUN
fsr-3373	92	18	would	would	AUX
fsr-3373	92	19	not	not	PART
fsr-3373	92	20	be	be	AUX
fsr-3373	92	21	breached	breach	VERB
fsr-3373	92	22	.	.	PUNCT
fsr-3373	93	1	this	this	PRON
fsr-3373	93	2	seems	seem	VERB
fsr-3373	93	3	reasonable	reasonable	ADJ
fsr-3373	93	4	even	even	ADV
fsr-3373	93	5	for	for	ADP
fsr-3373	93	6	very	very	ADJ
fsr-3373	93	7	risk	risk	NOUN
fsr-3373	93	8	averse	averse	ADJ
fsr-3373	93	9	individuals	individual	NOUN
fsr-3373	93	10	since	since	SCONJ
fsr-3373	93	11	a	a	DET
fsr-3373	93	12	20	20	NUM
fsr-3373	93	13	%	%	NOUN
fsr-3373	93	14	loss	loss	NOUN
fsr-3373	93	15	in	in	ADP
fsr-3373	93	16	a	a	DET
fsr-3373	93	17	single	single	ADJ
fsr-3373	93	18	month	month	NOUN
fsr-3373	93	19	has	have	AUX
fsr-3373	93	20	only	only	ADV
fsr-3373	93	21	occurred	occur	VERB
fsr-3373	93	22	once	once	ADV
fsr-3373	93	23	post	post	NOUN
fsr-3373	93	24	-	-	NOUN
fsr-3373	93	25	wwii	wwii	NOUN
fsr-3373	93	26	in	in	ADP
fsr-3373	93	27	october	october	PROPN
fsr-3373	93	28	1987	1987	NUM
fsr-3373	93	29	(	(	PUNCT
fsr-3373	93	30	�	�	PROPN
fsr-3373	93	31	21	21	NUM
fsr-3373	93	32	%	%	NOUN
fsr-3373	93	33	)	)	PUNCT
fsr-3373	93	34	.	.	PUNCT
fsr-3373	94	1	the	the	DET
fsr-3373	94	2	drawback	drawback	NOUN
fsr-3373	94	3	of	of	ADP
fsr-3373	94	4	monthly	monthly	ADJ
fsr-3373	94	5	rebalancing	rebalancing	NOUN
fsr-3373	94	6	for	for	ADP
fsr-3373	94	7	letfs	letfs	PROPN
fsr-3373	94	8	is	be	AUX
fsr-3373	94	9	the	the	DET
fsr-3373	94	10	leverage	leverage	NOUN
fsr-3373	94	11	decay	decay	NOUN
fsr-3373	94	12	that	that	PRON
fsr-3373	94	13	can	can	AUX
fsr-3373	94	14	be	be	AUX
fsr-3373	94	15	experienced	experience	VERB
fsr-3373	94	16	over	over	ADP
fsr-3373	94	17	a	a	DET
fsr-3373	94	18	month	month	NOUN
fsr-3373	94	19	.	.	PUNCT
fsr-3373	95	1	with	with	ADP
fsr-3373	95	2	weekly	weekly	ADJ
fsr-3373	95	3	or	or	CCONJ
fsr-3373	95	4	2.5	2.5	NUM
fsr-3373	95	5	%	%	NOUN
fsr-3373	95	6	price	price	NOUN
fsr-3373	95	7	limits	limit	NOUN
fsr-3373	95	8	,	,	PUNCT
fsr-3373	95	9	this	this	PRON
fsr-3373	95	10	is	be	AUX
fsr-3373	95	11	less	less	ADV
fsr-3373	95	12	likely	likely	ADJ
fsr-3373	95	13	to	to	PART
fsr-3373	95	14	be	be	AUX
fsr-3373	95	15	an	an	DET
fsr-3373	95	16	issue	issue	NOUN
fsr-3373	95	17	.	.	PUNCT
fsr-3373	96	1	the	the	DET
fsr-3373	96	2	benefit	benefit	NOUN
fsr-3373	96	3	of	of	ADP
fsr-3373	96	4	using	use	VERB
fsr-3373	96	5	letfs	letfs	PROPN
fsr-3373	96	6	is	be	AUX
fsr-3373	96	7	50	50	NUM
fsr-3373	96	8	%	%	NOUN
fsr-3373	96	9	exposure	exposure	NOUN
fsr-3373	96	10	can	can	AUX
fsr-3373	96	11	be	be	AUX
fsr-3373	96	12	attained	attain	VERB
fsr-3373	96	13	with	with	ADP
fsr-3373	96	14	a	a	DET
fsr-3373	96	15	smaller	small	ADJ
fsr-3373	96	16	equity	equity	NOUN
fsr-3373	96	17	position	position	NOUN
fsr-3373	96	18	.	.	PUNCT
fsr-3373	97	1	in	in	ADP
fsr-3373	97	2	the	the	DET
fsr-3373	97	3	case	case	NOUN
fsr-3373	97	4	of	of	ADP
fsr-3373	97	5	a	a	DET
fsr-3373	97	6	2x	2x	NUM
fsr-3373	97	7	,	,	PUNCT
fsr-3373	97	8	the	the	DET
fsr-3373	97	9	multiplier	multipli	ADJ
fsr-3373	97	10	only	only	ADV
fsr-3373	97	11	needs	need	VERB
fsr-3373	97	12	to	to	PART
fsr-3373	97	13	be	be	AUX
fsr-3373	97	14	2.5	2.5	NUM
fsr-3373	97	15	to	to	PART
fsr-3373	97	16	attain	attain	VERB
fsr-3373	97	17	the	the	DET
fsr-3373	97	18	same	same	ADJ
fsr-3373	97	19	50	50	NUM
fsr-3373	97	20	%	%	NOUN
fsr-3373	97	21	exposure	exposure	NOUN
fsr-3373	97	22	.	.	PUNCT
fsr-3373	98	1	for	for	ADP
fsr-3373	98	2	a	a	DET
fsr-3373	98	3	3x	3x	NUM
fsr-3373	98	4	,	,	PUNCT
fsr-3373	98	5	the	the	DET
fsr-3373	98	6	multiplier	multipli	ADJ
fsr-3373	98	7	only	only	ADV
fsr-3373	98	8	needs	need	VERB
fsr-3373	98	9	to	to	PART
fsr-3373	98	10	be	be	AUX
fsr-3373	98	11	1.67	1.67	NUM
fsr-3373	98	12	,	,	PUNCT
fsr-3373	98	13	and	and	CCONJ
fsr-3373	98	14	for	for	ADP
fsr-3373	98	15	the	the	DET
fsr-3373	98	16	4x	4x	NUM
fsr-3373	98	17	,	,	PUNCT
fsr-3373	98	18	1.25	1.25	NUM
fsr-3373	98	19	.	.	PUNCT
fsr-3373	99	1	because	because	SCONJ
fsr-3373	99	2	it	it	PRON
fsr-3373	99	3	is	be	AUX
fsr-3373	99	4	assumed	assume	VERB
fsr-3373	99	5	the	the	DET
fsr-3373	99	6	investment	investment	NOUN
fsr-3373	99	7	in	in	ADP
fsr-3373	99	8	the	the	DET
fsr-3373	99	9	risky	risky	ADJ
fsr-3373	99	10	asset	asset	NOUN
fsr-3373	99	11	is	be	AUX
fsr-3373	99	12	capped	cap	VERB
fsr-3373	99	13	at	at	ADP
fsr-3373	99	14	100	100	NUM
fsr-3373	99	15	%	%	NOUN
fsr-3373	99	16	,	,	PUNCT
fsr-3373	99	17	the	the	DET
fsr-3373	99	18	letfs	letfs	PROPN
fsr-3373	99	19	maximum	maximum	ADJ
fsr-3373	99	20	exposure	exposure	NOUN
fsr-3373	99	21	must	must	AUX
fsr-3373	99	22	be	be	AUX
fsr-3373	99	23	additionally	additionally	ADV
fsr-3373	99	24	constrained	constrain	VERB
fsr-3373	99	25	.	.	PUNCT
fsr-3373	100	1	the	the	DET
fsr-3373	100	2	proportion	proportion	NOUN
fsr-3373	100	3	in	in	ADP
fsr-3373	100	4	the	the	DET
fsr-3373	100	5	risky	risky	ADJ
fsr-3373	100	6	asset	asset	NOUN
fsr-3373	100	7	for	for	ADP
fsr-3373	100	8	cppi	cppi	NOUN
fsr-3373	100	9	2x	2x	NUM
fsr-3373	100	10	at	at	ADP
fsr-3373	100	11	time	time	NOUN
fsr-3373	100	12	t	t	PROPN
fsr-3373	100	13	is	be	AUX
fsr-3373	100	14	calculated	calculate	VERB
fsr-3373	100	15	as	as	ADP
fsr-3373	100	16	the	the	DET
fsr-3373	100	17	min{max(min[(m(vp	min{max(min[(m(vp	PROPN
fsr-3373	100	18	–	–	PUNCT
fsr-3373	100	19	f),vp],0)/vp,0.5	f),vp],0)/vp,0.5	VERB
fsr-3373	100	20	}	}	PUNCT
fsr-3373	100	21	while	while	SCONJ
fsr-3373	100	22	the	the	DET
fsr-3373	100	23	proportion	proportion	NOUN
fsr-3373	100	24	in	in	ADP
fsr-3373	100	25	the	the	DET
fsr-3373	100	26	risky	risky	ADJ
fsr-3373	100	27	asset	asset	NOUN
fsr-3373	100	28	for	for	ADP
fsr-3373	100	29	cppi	cppi	NOUN
fsr-3373	100	30	3x	3x	PROPN
fsr-3373	100	31	at	at	ADP
fsr-3373	100	32	time	time	NOUN
fsr-3373	100	33	t	t	PROPN
fsr-3373	100	34	is	be	AUX
fsr-3373	100	35	min{max(min[(m(vp	min{max(min[(m(vp	PROPN
fsr-3373	100	36	–	–	PUNCT
fsr-3373	100	37	f),vp],0)/vp,0.33	f),vp],0)/vp,0.33	NOUN
fsr-3373	100	38	}	}	PUNCT
fsr-3373	100	39	.	.	PUNCT
fsr-3373	101	1	for	for	ADP
fsr-3373	101	2	a	a	DET
fsr-3373	101	3	4x	4x	NUM
fsr-3373	101	4	,	,	PUNCT
fsr-3373	101	5	the	the	DET
fsr-3373	101	6	maximum	maximum	ADJ
fsr-3373	101	7	exposure	exposure	NOUN
fsr-3373	101	8	is	be	AUX
fsr-3373	101	9	25	25	NUM
fsr-3373	101	10	%	%	NOUN
fsr-3373	101	11	.	.	PUNCT
fsr-3373	102	1	the	the	DET
fsr-3373	102	2	four	four	NUM
fsr-3373	102	3	initial	initial	ADJ
fsr-3373	102	4	positions	position	NOUN
fsr-3373	102	5	using	use	VERB
fsr-3373	102	6	a	a	DET
fsr-3373	102	7	portfolio	portfolio	NOUN
fsr-3373	102	8	value	value	NOUN
fsr-3373	102	9	(	(	PUNCT
fsr-3373	102	10	vp	vp	NOUN
fsr-3373	102	11	)	)	PUNCT
fsr-3373	102	12	of	of	ADP
fsr-3373	102	13	$	$	SYM
fsr-3373	102	14	100,000	100,000	NUM
fsr-3373	102	15	for	for	ADP
fsr-3373	102	16	exposition	exposition	NOUN
fsr-3373	102	17	are	be	AUX
fsr-3373	102	18	shown	show	VERB
fsr-3373	102	19	in	in	ADP
fsr-3373	102	20	table	table	NOUN
fsr-3373	102	21	1	1	NUM
fsr-3373	102	22	below	below	ADV
fsr-3373	102	23	.	.	PUNCT
fsr-3373	103	1	while	while	SCONJ
fsr-3373	103	2	table	table	NOUN
fsr-3373	103	3	1	1	NUM
fsr-3373	103	4	shows	show	VERB
fsr-3373	103	5	the	the	DET
fsr-3373	103	6	initial	initial	ADJ
fsr-3373	103	7	positions	position	NOUN
fsr-3373	103	8	,	,	PUNCT
fsr-3373	103	9	table	table	NOUN
fsr-3373	103	10	2	2	NUM
fsr-3373	103	11	demonstrates	demonstrate	VERB
fsr-3373	103	12	how	how	SCONJ
fsr-3373	103	13	the	the	DET
fsr-3373	103	14	cppis	cppis	ADJ
fsr-3373	103	15	are	be	AUX
fsr-3373	103	16	adjusted	adjust	VERB
fsr-3373	103	17	after	after	ADP
fsr-3373	103	18	each	each	DET
fsr-3373	103	19	rebalance	rebalance	NOUN
fsr-3373	103	20	using	use	VERB
fsr-3373	103	21	the	the	DET
fsr-3373	103	22	s&p	s&p	PROPN
fsr-3373	103	23	500	500	NUM
fsr-3373	103	24	spy	spy	NOUN
fsr-3373	103	25	etf	etf	NOUN
fsr-3373	103	26	and	and	CCONJ
fsr-3373	103	27	proshare	proshare	VERB
fsr-3373	103	28	’s	’s	PART
fsr-3373	103	29	3x	3x	PROPN
fsr-3373	103	30	s&p	s&p	PROPN
fsr-3373	103	31	500	500	NUM
fsr-3373	103	32	table	table	NOUN
fsr-3373	103	33	1	1	NUM
fsr-3373	103	34	initial	initial	ADJ
fsr-3373	103	35	positions	position	NOUN
fsr-3373	103	36	for	for	ADP
fsr-3373	103	37	cppi	cppi	NOUN
fsr-3373	103	38	strategies	strategy	NOUN
fsr-3373	103	39	cppi	cppi	NOUN
fsr-3373	103	40	floor	floor	NOUN
fsr-3373	103	41	(	(	PUNCT
fsr-3373	103	42	f	f	X
fsr-3373	103	43	)	)	PUNCT
fsr-3373	103	44	cushion	cushion	NOUN
fsr-3373	103	45	multiplier	multipli	ADJ
fsr-3373	103	46	(	(	PUNCT
fsr-3373	103	47	m	m	NOUN
fsr-3373	103	48	)	)	PUNCT
fsr-3373	103	49	%	%	NOUN
fsr-3373	103	50	in	in	ADP
fsr-3373	103	51	risky	risky	ADJ
fsr-3373	103	52	asset	asset	NOUN
fsr-3373	103	53	%	%	NOUN
fsr-3373	103	54	in	in	ADP
fsr-3373	103	55	risk	risk	NOUN
fsr-3373	103	56	-	-	PUNCT
fsr-3373	103	57	free	free	ADJ
fsr-3373	103	58	cppi	cppi	NOUN
fsr-3373	103	59	s&p	s&p	PROPN
fsr-3373	103	60	$	$	SYM
fsr-3373	103	61	90,000	90,000	NUM
fsr-3373	103	62	$	$	SYM
fsr-3373	103	63	10,000	10,000	NUM
fsr-3373	103	64	5	5	NUM
fsr-3373	103	65	$	$	SYM
fsr-3373	103	66	50,000	50,000	NUM
fsr-3373	103	67	$	$	SYM
fsr-3373	103	68	50,000	50,000	NUM
fsr-3373	103	69	cppi	cppi	NOUN
fsr-3373	103	70	2x	2x	NUM
fsr-3373	103	71	$	$	SYM
fsr-3373	103	72	90,000	90,000	NUM
fsr-3373	103	73	$	$	SYM
fsr-3373	103	74	10,000	10,000	NUM
fsr-3373	103	75	2.5	2.5	NUM
fsr-3373	103	76	$	$	SYM
fsr-3373	103	77	25,000	25,000	NUM
fsr-3373	103	78	$	$	SYM
fsr-3373	103	79	75,000	75,000	NUM
fsr-3373	103	80	cppi	cppi	NOUN
fsr-3373	103	81	3x	3x	NUM
fsr-3373	103	82	$	$	SYM
fsr-3373	103	83	90,000	90,000	NUM
fsr-3373	103	84	$	$	SYM
fsr-3373	103	85	10,000	10,000	NUM
fsr-3373	103	86	1.67	1.67	NUM
fsr-3373	103	87	$	$	SYM
fsr-3373	103	88	16,667	16,667	NUM
fsr-3373	103	89	$	$	SYM
fsr-3373	103	90	83,333	83,333	NUM
fsr-3373	103	91	cppi	cppi	NOUN
fsr-3373	103	92	4x	4x	NUM
fsr-3373	103	93	$	$	SYM
fsr-3373	103	94	90,000	90,000	NUM
fsr-3373	103	95	$	$	SYM
fsr-3373	103	96	10,000	10,000	NUM
fsr-3373	103	97	1.25	1.25	NUM
fsr-3373	103	98	$	$	SYM
fsr-3373	103	99	12,500	12,500	NUM
fsr-3373	103	100	$	$	SYM
fsr-3373	103	101	87,500	87,500	NUM
fsr-3373	103	102	constant	constant	ADJ
fsr-3373	103	103	proportional	proportional	ADJ
fsr-3373	103	104	portfolio	portfolio	NOUN
fsr-3373	103	105	insurance	insurance	NOUN
fsr-3373	103	106	(	(	PUNCT
fsr-3373	103	107	cppi	cppi	NOUN
fsr-3373	103	108	)	)	PUNCT
fsr-3373	103	109	positions	position	NOUN
fsr-3373	103	110	are	be	AUX
fsr-3373	103	111	initially	initially	ADV
fsr-3373	103	112	set	set	VERB
fsr-3373	103	113	based	base	VERB
fsr-3373	103	114	on	on	ADP
fsr-3373	103	115	a	a	DET
fsr-3373	103	116	90	90	NUM
fsr-3373	103	117	%	%	NOUN
fsr-3373	103	118	floor	floor	NOUN
fsr-3373	103	119	and	and	CCONJ
fsr-3373	103	120	are	be	AUX
fsr-3373	103	121	rebalanced	rebalance	VERB
fsr-3373	103	122	with	with	ADP
fsr-3373	103	123	every	every	DET
fsr-3373	103	124	2.5	2.5	NUM
fsr-3373	103	125	%	%	NOUN
fsr-3373	103	126	move	move	NOUN
fsr-3373	103	127	in	in	ADP
fsr-3373	103	128	the	the	DET
fsr-3373	103	129	s&p	s&p	PROPN
fsr-3373	103	130	500	500	NUM
fsr-3373	103	131	.	.	PUNCT
fsr-3373	104	1	floor	floor	NOUN
fsr-3373	104	2	values	value	NOUN
fsr-3373	104	3	are	be	AUX
fsr-3373	104	4	reset	reset	VERB
fsr-3373	104	5	each	each	DET
fsr-3373	104	6	year	year	NOUN
fsr-3373	104	7	based	base	VERB
fsr-3373	104	8	on	on	ADP
fsr-3373	104	9	the	the	DET
fsr-3373	104	10	portfolio	portfolio	NOUN
fsr-3373	104	11	value	value	NOUN
fsr-3373	104	12	at	at	ADP
fsr-3373	104	13	the	the	DET
fsr-3373	104	14	end	end	NOUN
fsr-3373	104	15	of	of	ADP
fsr-3373	104	16	the	the	DET
fsr-3373	104	17	previous	previous	ADJ
fsr-3373	104	18	year	year	NOUN
fsr-3373	104	19	.	.	PUNCT
fsr-3373	105	1	table	table	NOUN
fsr-3373	105	2	2	2	NUM
fsr-3373	105	3	percentage	percentage	NOUN
fsr-3373	105	4	changes	change	NOUN
fsr-3373	105	5	in	in	ADP
fsr-3373	105	6	the	the	DET
fsr-3373	105	7	cppi	cppi	NOUN
fsr-3373	105	8	strategies	strategy	NOUN
fsr-3373	105	9	2016	2016	NUM
fsr-3373	105	10	spy	spy	NOUN
fsr-3373	105	11	ret	ret	NOUN
fsr-3373	105	12	%	%	NOUN
fsr-3373	105	13	in	in	ADP
fsr-3373	105	14	s&p	s&p	PROPN
fsr-3373	105	15	cppi	cppi	NOUN
fsr-3373	105	16	s&p	s&p	PROPN
fsr-3373	105	17	vp	vp	PROPN
fsr-3373	105	18	3x	3x	PROPN
fsr-3373	105	19	upro	upro	PROPN
fsr-3373	105	20	ret	ret	PROPN
fsr-3373	105	21	%	%	NOUN
fsr-3373	105	22	in	in	ADP
fsr-3373	105	23	3x	3x	NUM
fsr-3373	105	24	cppi	cppi	NOUN
fsr-3373	105	25	3x	3x	NUM
fsr-3373	105	26	vp	vp	PROPN
fsr-3373	105	27	1/4	1/4	NUM
fsr-3373	105	28	-	-	PUNCT
fsr-3373	105	29	1/7	1/7	NUM
fsr-3373	105	30	�	�	NOUN
fsr-3373	105	31	4.82	4.82	NUM
fsr-3373	105	32	%	%	NOUN
fsr-3373	105	33	50.00	50.00	NUM
fsr-3373	105	34	%	%	NOUN
fsr-3373	105	35	$	$	SYM
fsr-3373	105	36	0.98	0.98	NUM
fsr-3373	105	37	�	�	NOUN
fsr-3373	105	38	14.12	14.12	NUM
fsr-3373	105	39	%	%	NOUN
fsr-3373	105	40	16.67	16.67	NUM
fsr-3373	105	41	%	%	NOUN
fsr-3373	105	42	$	$	SYM
fsr-3373	105	43	0.98	0.98	NUM
fsr-3373	105	44	1/7	1/7	NUM
fsr-3373	105	45	-	-	SYM
fsr-3373	105	46	1/13	1/13	NUM
fsr-3373	105	47	�	�	NOUN
fsr-3373	105	48	2.69	2.69	NUM
fsr-3373	105	49	%	%	NOUN
fsr-3373	105	50	39.00	39.00	NUM
fsr-3373	105	51	%	%	NOUN
fsr-3373	105	52	$	$	SYM
fsr-3373	105	53	0.97	0.97	NUM
fsr-3373	105	54	�	�	NOUN
fsr-3373	105	55	8.16	8.16	NUM
fsr-3373	105	56	%	%	NOUN
fsr-3373	105	57	13.12	13.12	NUM
fsr-3373	105	58	%	%	NOUN
fsr-3373	105	59	$	$	SYM
fsr-3373	105	60	0.97	0.97	NUM
fsr-3373	105	61	1/13	1/13	NUM
fsr-3373	105	62	-	-	SYM
fsr-3373	105	63	1/29	1/29	NUM
fsr-3373	105	64	2.59	2.59	NUM
fsr-3373	105	65	%	%	NOUN
fsr-3373	105	66	34.26	34.26	NUM
fsr-3373	105	67	%	%	NOUN
fsr-3373	105	68	$	$	SYM
fsr-3373	105	69	0.98	0.98	NUM
fsr-3373	105	70	7.29	7.29	NUM
fsr-3373	105	71	%	%	NOUN
fsr-3373	105	72	11.52	11.52	NUM
fsr-3373	105	73	%	%	NOUN
fsr-3373	105	74	$	$	SYM
fsr-3373	105	75	0.98	0.98	NUM
fsr-3373	105	76	1/29	1/29	NUM
fsr-3373	105	77	-	-	PUNCT
fsr-3373	105	78	2/5	2/5	NUM
fsr-3373	105	79	�	�	NOUN
fsr-3373	105	80	2.98	2.98	NUM
fsr-3373	105	81	%	%	NOUN
fsr-3373	105	82	38.75	38.75	NUM
fsr-3373	105	83	%	%	NOUN
fsr-3373	105	84	$	$	SYM
fsr-3373	105	85	0.96	0.96	NUM
fsr-3373	105	86	�	�	NOUN
fsr-3373	105	87	9.15	9.15	NUM
fsr-3373	105	88	%	%	NOUN
fsr-3373	105	89	12.99	12.99	NUM
fsr-3373	105	90	%	%	NOUN
fsr-3373	105	91	$	$	SYM
fsr-3373	105	92	0.96	0.96	NUM
fsr-3373	105	93	2/5	2/5	NUM
fsr-3373	105	94	-	-	PUNCT
fsr-3373	105	95	2/11	2/11	NUM
fsr-3373	105	96	�	�	NOUN
fsr-3373	105	97	2.71	2.71	NUM
fsr-3373	105	98	%	%	NOUN
fsr-3373	105	99	33.91	33.91	NUM
fsr-3373	105	100	%	%	NOUN
fsr-3373	105	101	$	$	SYM
fsr-3373	105	102	0.96	0.96	NUM
fsr-3373	105	103	�	�	NOUN
fsr-3373	105	104	7.71	7.71	NUM
fsr-3373	105	105	%	%	NOUN
fsr-3373	105	106	11.16	11.16	NUM
fsr-3373	105	107	%	%	NOUN
fsr-3373	105	108	$	$	SYM
fsr-3373	105	109	0.96	0.96	NUM
fsr-3373	105	110	results	result	NOUN
fsr-3373	105	111	show	show	VERB
fsr-3373	105	112	the	the	DET
fsr-3373	105	113	returns	return	NOUN
fsr-3373	105	114	of	of	ADP
fsr-3373	105	115	the	the	DET
fsr-3373	105	116	underlying	underlie	VERB
fsr-3373	105	117	risky	risky	ADJ
fsr-3373	105	118	asset	asset	NOUN
fsr-3373	105	119	designated	designate	VERB
fsr-3373	105	120	as	as	ADP
fsr-3373	105	121	the	the	DET
fsr-3373	105	122	spy	spy	NOUN
fsr-3373	105	123	etf	etf	NOUN
fsr-3373	105	124	,	,	PUNCT
fsr-3373	105	125	the	the	DET
fsr-3373	105	126	allocation	allocation	NOUN
fsr-3373	105	127	to	to	ADP
fsr-3373	105	128	the	the	DET
fsr-3373	105	129	risky	risky	ADJ
fsr-3373	105	130	asset	asset	NOUN
fsr-3373	105	131	(	(	PUNCT
fsr-3373	105	132	%	%	NOUN
fsr-3373	105	133	in	in	ADP
fsr-3373	105	134	s&p	s&p	PROPN
fsr-3373	105	135	,	,	PUNCT
fsr-3373	105	136	%	%	NOUN
fsr-3373	105	137	in	in	ADP
fsr-3373	105	138	3x	3x	NUM
fsr-3373	105	139	)	)	PUNCT
fsr-3373	105	140	,	,	PUNCT
fsr-3373	105	141	and	and	CCONJ
fsr-3373	105	142	the	the	DET
fsr-3373	105	143	portfolio	portfolio	NOUN
fsr-3373	105	144	value	value	NOUN
fsr-3373	105	145	with	with	ADP
fsr-3373	105	146	a	a	DET
fsr-3373	105	147	start	start	NOUN
fsr-3373	105	148	value	value	NOUN
fsr-3373	105	149	of	of	ADP
fsr-3373	105	150	$	$	SYM
fsr-3373	105	151	1	1	NUM
fsr-3373	105	152	for	for	ADP
fsr-3373	105	153	two	two	NUM
fsr-3373	105	154	of	of	ADP
fsr-3373	105	155	the	the	DET
fsr-3373	105	156	constant	constant	ADJ
fsr-3373	105	157	proportional	proportional	ADJ
fsr-3373	105	158	portfolio	portfolio	NOUN
fsr-3373	105	159	insurance	insurance	NOUN
fsr-3373	105	160	cppi	cppi	NOUN
fsr-3373	105	161	strategies	strategy	NOUN
fsr-3373	105	162	(	(	PUNCT
fsr-3373	105	163	cppi	cppi	PROPN
fsr-3373	105	164	s&p	s&p	PROPN
fsr-3373	105	165	vp	vp	PROPN
fsr-3373	105	166	,	,	PUNCT
fsr-3373	105	167	cppi	cppi	NOUN
fsr-3373	105	168	3x	3x	NUM
fsr-3373	105	169	vp	vp	NOUN
fsr-3373	105	170	)	)	PUNCT
fsr-3373	105	171	from	from	ADP
fsr-3373	105	172	1/4/16	1/4/16	NUM
fsr-3373	105	173	to	to	ADP
fsr-3373	105	174	2/11/16	2/11/16	PROPN
fsr-3373	105	175	.	.	PUNCT
fsr-3373	106	1	upro	upro	PROPN
fsr-3373	106	2	is	be	AUX
fsr-3373	106	3	proshare	proshare	VERB
fsr-3373	106	4	’s	’s	PART
fsr-3373	106	5	3x	3x	NUM
fsr-3373	106	6	s&p	s&p	PROPN
fsr-3373	106	7	letf	letf	NOUN
fsr-3373	106	8	.	.	PUNCT
fsr-3373	107	1	391j	391j	PROPN
fsr-3373	107	2	.	.	PUNCT
fsr-3373	108	1	george	george	PROPN
fsr-3373	108	2	,	,	PUNCT
fsr-3373	108	3	w.j	w.j	PROPN
fsr-3373	108	4	.	.	PROPN
fsr-3373	108	5	trainor	trainor	PROPN
fsr-3373	108	6	/	/	SYM
fsr-3373	108	7	financial	financial	ADJ
fsr-3373	108	8	services	service	NOUN
fsr-3373	108	9	review	review	VERB
fsr-3373	108	10	26	26	NUM
fsr-3373	108	11	(	(	PUNCT
fsr-3373	108	12	2017	2017	NUM
fsr-3373	108	13	)	)	PUNCT
fsr-3373	109	1	387–403	387–403	NUM
fsr-3373	109	2	(	(	PUNCT
fsr-3373	109	3	ticker	ticker	PROPN
fsr-3373	109	4	upro	upro	PROPN
fsr-3373	109	5	)	)	PUNCT
fsr-3373	109	6	as	as	ADP
fsr-3373	109	7	an	an	DET
fsr-3373	109	8	example	example	NOUN
fsr-3373	109	9	.	.	PUNCT
fsr-3373	110	1	with	with	ADP
fsr-3373	110	2	each	each	DET
fsr-3373	110	3	2.5	2.5	NUM
fsr-3373	110	4	%	%	NOUN
fsr-3373	110	5	change	change	NOUN
fsr-3373	110	6	in	in	ADP
fsr-3373	110	7	the	the	DET
fsr-3373	110	8	underlying	underlying	ADJ
fsr-3373	110	9	index	index	NOUN
fsr-3373	110	10	,	,	PUNCT
fsr-3373	110	11	the	the	DET
fsr-3373	110	12	exposure	exposure	NOUN
fsr-3373	110	13	is	be	AUX
fsr-3373	110	14	adjusted	adjust	VERB
fsr-3373	110	15	.	.	PUNCT
fsr-3373	111	1	the	the	DET
fsr-3373	111	2	floor	floor	NOUN
fsr-3373	111	3	is	be	AUX
fsr-3373	111	4	rebalanced	rebalance	VERB
fsr-3373	111	5	annually	annually	ADV
fsr-3373	111	6	to	to	ADP
fsr-3373	111	7	90	90	NUM
fsr-3373	111	8	%	%	NOUN
fsr-3373	111	9	of	of	ADP
fsr-3373	111	10	the	the	DET
fsr-3373	111	11	value	value	NOUN
fsr-3373	111	12	of	of	ADP
fsr-3373	111	13	the	the	DET
fsr-3373	111	14	portfolio	portfolio	NOUN
fsr-3373	111	15	at	at	ADP
fsr-3373	111	16	the	the	DET
fsr-3373	111	17	end	end	NOUN
fsr-3373	111	18	of	of	ADP
fsr-3373	111	19	the	the	DET
fsr-3373	111	20	year	year	NOUN
fsr-3373	111	21	.	.	PUNCT
fsr-3373	112	1	this	this	PRON
fsr-3373	112	2	implies	imply	VERB
fsr-3373	112	3	an	an	DET
fsr-3373	112	4	investor	investor	NOUN
fsr-3373	112	5	could	could	AUX
fsr-3373	112	6	be	be	AUX
fsr-3373	112	7	100	100	NUM
fsr-3373	112	8	%	%	NOUN
fsr-3373	112	9	in	in	ADP
fsr-3373	112	10	equities	equity	NOUN
fsr-3373	112	11	if	if	SCONJ
fsr-3373	112	12	the	the	DET
fsr-3373	112	13	returns	return	NOUN
fsr-3373	112	14	are	be	AUX
fsr-3373	112	15	positive	positive	ADJ
fsr-3373	112	16	enough	enough	ADV
fsr-3373	112	17	.	.	PUNCT
fsr-3373	113	1	because	because	SCONJ
fsr-3373	113	2	the	the	DET
fsr-3373	113	3	floor	floor	NOUN
fsr-3373	113	4	is	be	AUX
fsr-3373	113	5	only	only	ADV
fsr-3373	113	6	reset	reset	VERB
fsr-3373	113	7	annually	annually	ADV
fsr-3373	113	8	,	,	PUNCT
fsr-3373	113	9	more	more	ADJ
fsr-3373	113	10	than	than	SCONJ
fsr-3373	113	11	a	a	DET
fsr-3373	113	12	10	10	NUM
fsr-3373	113	13	%	%	NOUN
fsr-3373	113	14	loss	loss	NOUN
fsr-3373	113	15	could	could	AUX
fsr-3373	113	16	occur	occur	VERB
fsr-3373	113	17	within	within	ADP
fsr-3373	113	18	the	the	DET
fsr-3373	113	19	year	year	NOUN
fsr-3373	113	20	,	,	PUNCT
fsr-3373	113	21	but	but	CCONJ
fsr-3373	113	22	not	not	PART
fsr-3373	113	23	for	for	ADP
fsr-3373	113	24	the	the	DET
fsr-3373	113	25	entire	entire	ADJ
fsr-3373	113	26	year	year	NOUN
fsr-3373	113	27	assuming	assume	VERB
fsr-3373	113	28	there	there	PRON
fsr-3373	113	29	are	be	VERB
fsr-3373	113	30	no	no	DET
fsr-3373	113	31	historic	historic	ADJ
fsr-3373	113	32	losses	loss	NOUN
fsr-3373	113	33	in	in	ADP
fsr-3373	113	34	any	any	DET
fsr-3373	113	35	given	give	VERB
fsr-3373	113	36	day	day	NOUN
fsr-3373	113	37	.	.	PUNCT
fsr-3373	114	1	the	the	DET
fsr-3373	114	2	floor	floor	NOUN
fsr-3373	114	3	could	could	AUX
fsr-3373	114	4	be	be	AUX
fsr-3373	114	5	breached	breach	VERB
fsr-3373	114	6	if	if	SCONJ
fsr-3373	114	7	equities	equity	NOUN
fsr-3373	114	8	declined	decline	VERB
fsr-3373	114	9	by	by	ADP
fsr-3373	114	10	at	at	ADV
fsr-3373	114	11	least	least	ADV
fsr-3373	114	12	20	20	NUM
fsr-3373	114	13	%	%	NOUN
fsr-3373	114	14	in	in	ADP
fsr-3373	114	15	any	any	DET
fsr-3373	114	16	given	give	VERB
fsr-3373	114	17	day	day	NOUN
fsr-3373	114	18	before	before	SCONJ
fsr-3373	114	19	the	the	DET
fsr-3373	114	20	portfolio	portfolio	NOUN
fsr-3373	114	21	could	could	AUX
fsr-3373	114	22	be	be	AUX
fsr-3373	114	23	rebalanced	rebalance	VERB
fsr-3373	114	24	.	.	PUNCT
fsr-3373	115	1	even	even	ADV
fsr-3373	115	2	this	this	DET
fsr-3373	115	3	loss	loss	NOUN
fsr-3373	115	4	is	be	AUX
fsr-3373	115	5	likely	likely	ADJ
fsr-3373	115	6	not	not	PART
fsr-3373	115	7	enough	enough	ADJ
fsr-3373	115	8	to	to	PART
fsr-3373	115	9	breach	breach	VERB
fsr-3373	115	10	the	the	DET
fsr-3373	115	11	floor	floor	NOUN
fsr-3373	115	12	as	as	SCONJ
fsr-3373	115	13	the	the	DET
fsr-3373	115	14	value	value	NOUN
fsr-3373	115	15	of	of	ADP
fsr-3373	115	16	the	the	DET
fsr-3373	115	17	bond	bond	NOUN
fsr-3373	115	18	portion	portion	NOUN
fsr-3373	115	19	of	of	ADP
fsr-3373	115	20	the	the	DET
fsr-3373	115	21	portfolio	portfolio	NOUN
fsr-3373	115	22	would	would	AUX
fsr-3373	115	23	increase	increase	VERB
fsr-3373	115	24	dramatically	dramatically	ADV
fsr-3373	115	25	in	in	ADP
fsr-3373	115	26	such	such	DET
fsr-3373	115	27	a	a	DET
fsr-3373	115	28	scenario	scenario	NOUN
fsr-3373	115	29	.	.	PUNCT
fsr-3373	116	1	in	in	ADP
fsr-3373	116	2	addition	addition	NOUN
fsr-3373	116	3	,	,	PUNCT
fsr-3373	116	4	even	even	ADV
fsr-3373	116	5	if	if	SCONJ
fsr-3373	116	6	a	a	DET
fsr-3373	116	7	100	100	NUM
fsr-3373	116	8	%	%	NOUN
fsr-3373	116	9	equity	equity	NOUN
fsr-3373	116	10	position	position	NOUN
fsr-3373	116	11	was	be	AUX
fsr-3373	116	12	held	hold	VERB
fsr-3373	116	13	because	because	SCONJ
fsr-3373	116	14	of	of	ADP
fsr-3373	116	15	the	the	DET
fsr-3373	116	16	increase	increase	NOUN
fsr-3373	116	17	in	in	ADP
fsr-3373	116	18	the	the	DET
fsr-3373	116	19	portfolio	portfolio	NOUN
fsr-3373	116	20	value	value	NOUN
fsr-3373	116	21	over	over	ADP
fsr-3373	116	22	the	the	DET
fsr-3373	116	23	year	year	NOUN
fsr-3373	116	24	,	,	PUNCT
fsr-3373	116	25	a	a	DET
fsr-3373	116	26	20	20	NUM
fsr-3373	116	27	%	%	NOUN
fsr-3373	116	28	daily	daily	ADJ
fsr-3373	116	29	decline	decline	NOUN
fsr-3373	116	30	in	in	ADP
fsr-3373	116	31	equities	equity	NOUN
fsr-3373	116	32	would	would	AUX
fsr-3373	116	33	still	still	ADV
fsr-3373	116	34	be	be	AUX
fsr-3373	116	35	required	require	VERB
fsr-3373	116	36	to	to	PART
fsr-3373	116	37	breach	breach	VERB
fsr-3373	116	38	the	the	DET
fsr-3373	116	39	90	90	NUM
fsr-3373	116	40	%	%	NOUN
fsr-3373	116	41	floor	floor	NOUN
fsr-3373	116	42	.	.	PUNCT
fsr-3373	117	1	as	as	ADP
fsr-3373	117	2	an	an	DET
fsr-3373	117	3	example	example	NOUN
fsr-3373	117	4	of	of	ADP
fsr-3373	117	5	how	how	SCONJ
fsr-3373	117	6	the	the	DET
fsr-3373	117	7	rebalancing	rebalancing	NOUN
fsr-3373	117	8	is	be	AUX
fsr-3373	117	9	implemented	implement	VERB
fsr-3373	117	10	,	,	PUNCT
fsr-3373	117	11	table	table	NOUN
fsr-3373	117	12	2	2	NUM
fsr-3373	117	13	shows	show	VERB
fsr-3373	117	14	the	the	DET
fsr-3373	117	15	spy	spy	NOUN
fsr-3373	117	16	falls	fall	VERB
fsr-3373	117	17	�	�	PROPN
fsr-3373	117	18	4.8	4.8	NUM
fsr-3373	117	19	%	%	NOUN
fsr-3373	117	20	in	in	ADP
fsr-3373	117	21	the	the	DET
fsr-3373	117	22	first	first	ADJ
fsr-3373	117	23	3	3	NUM
fsr-3373	117	24	days	day	NOUN
fsr-3373	117	25	of	of	ADP
fsr-3373	117	26	2016	2016	NUM
fsr-3373	117	27	.	.	PUNCT
fsr-3373	118	1	this	this	DET
fsr-3373	118	2	breaches	breach	VERB
fsr-3373	118	3	the	the	DET
fsr-3373	118	4	2.5	2.5	NUM
fsr-3373	118	5	%	%	NOUN
fsr-3373	118	6	limit	limit	NOUN
fsr-3373	118	7	and	and	CCONJ
fsr-3373	118	8	the	the	DET
fsr-3373	118	9	portfolios	portfolio	NOUN
fsr-3373	118	10	are	be	AUX
fsr-3373	118	11	rebalanced	rebalance	VERB
fsr-3373	118	12	.	.	PUNCT
fsr-3373	119	1	this	this	DET
fsr-3373	119	2	results	result	VERB
fsr-3373	119	3	in	in	ADP
fsr-3373	119	4	a	a	DET
fsr-3373	119	5	reduction	reduction	NOUN
fsr-3373	119	6	in	in	ADP
fsr-3373	119	7	the	the	DET
fsr-3373	119	8	risky	risky	ADJ
fsr-3373	119	9	asset	asset	NOUN
fsr-3373	119	10	from	from	ADP
fsr-3373	119	11	50	50	NUM
fsr-3373	119	12	%	%	NOUN
fsr-3373	119	13	of	of	ADP
fsr-3373	119	14	the	the	DET
fsr-3373	119	15	portfolio	portfolio	NOUN
fsr-3373	119	16	to	to	ADP
fsr-3373	119	17	39	39	NUM
fsr-3373	119	18	%	%	NOUN
fsr-3373	119	19	for	for	ADP
fsr-3373	119	20	the	the	DET
fsr-3373	119	21	cppi	cppi	NOUN
fsr-3373	119	22	s&p	s&p	PROPN
fsr-3373	119	23	.	.	PUNCT
fsr-3373	120	1	a	a	DET
fsr-3373	120	2	similar	similar	ADJ
fsr-3373	120	3	type	type	NOUN
fsr-3373	120	4	of	of	ADP
fsr-3373	120	5	reduction	reduction	NOUN
fsr-3373	120	6	is	be	AUX
fsr-3373	120	7	made	make	VERB
fsr-3373	120	8	in	in	ADP
fsr-3373	120	9	the	the	DET
fsr-3373	120	10	cppi	cppi	NOUN
fsr-3373	120	11	3x	3x	PROPN
fsr-3373	120	12	portfolio	portfolio	NOUN
fsr-3373	120	13	as	as	ADP
fsr-3373	120	14	upro	upro	PROPN
fsr-3373	120	15	’s	’s	PART
fsr-3373	120	16	3x	3x	NUM
fsr-3373	120	17	return	return	NOUN
fsr-3373	120	18	is	be	AUX
fsr-3373	120	19	�	�	PROPN
fsr-3373	120	20	14.12	14.12	NUM
fsr-3373	120	21	%	%	NOUN
fsr-3373	120	22	.	.	PUNCT
fsr-3373	121	1	alternatively	alternatively	ADV
fsr-3373	121	2	,	,	PUNCT
fsr-3373	121	3	from	from	ADP
fsr-3373	121	4	1/13/16	1/13/16	NUM
fsr-3373	121	5	to	to	ADP
fsr-3373	121	6	1/29/16	1/29/16	NUM
fsr-3373	121	7	,	,	PUNCT
fsr-3373	121	8	the	the	DET
fsr-3373	121	9	market	market	NOUN
fsr-3373	121	10	increases	increase	VERB
fsr-3373	121	11	2.6	2.6	NUM
fsr-3373	121	12	%	%	NOUN
fsr-3373	121	13	leading	lead	VERB
fsr-3373	121	14	to	to	ADP
fsr-3373	121	15	a	a	DET
fsr-3373	121	16	percentage	percentage	NOUN
fsr-3373	121	17	increase	increase	NOUN
fsr-3373	121	18	in	in	ADP
fsr-3373	121	19	the	the	DET
fsr-3373	121	20	risky	risky	ADJ
fsr-3373	121	21	asset	asset	NOUN
fsr-3373	121	22	.	.	PUNCT
fsr-3373	122	1	rebalancing	rebalancing	NOUN
fsr-3373	122	2	occurs	occur	VERB
fsr-3373	122	3	every	every	DET
fsr-3373	122	4	time	time	NOUN
fsr-3373	122	5	the	the	DET
fsr-3373	122	6	index	index	NOUN
fsr-3373	122	7	changes	change	NOUN
fsr-3373	122	8	by	by	ADP
fsr-3373	122	9	2.5	2.5	NUM
fsr-3373	122	10	%	%	NOUN
fsr-3373	122	11	or	or	CCONJ
fsr-3373	122	12	more	more	ADJ
fsr-3373	122	13	since	since	SCONJ
fsr-3373	122	14	the	the	DET
fsr-3373	122	15	previous	previous	ADJ
fsr-3373	122	16	rebalancing	rebalancing	NOUN
fsr-3373	122	17	.	.	PUNCT
fsr-3373	123	1	on	on	ADP
fsr-3373	123	2	average	average	ADJ
fsr-3373	123	3	,	,	PUNCT
fsr-3373	123	4	23	23	NUM
fsr-3373	123	5	trades	trade	NOUN
fsr-3373	123	6	a	a	DET
fsr-3373	123	7	year	year	NOUN
fsr-3373	123	8	are	be	AUX
fsr-3373	123	9	required	require	VERB
fsr-3373	123	10	using	use	VERB
fsr-3373	123	11	a	a	DET
fsr-3373	123	12	2.5	2.5	NUM
fsr-3373	123	13	%	%	NOUN
fsr-3373	123	14	barrier	barrier	NOUN
fsr-3373	123	15	.	.	PUNCT
fsr-3373	124	1	in	in	ADP
fsr-3373	124	2	january	january	PROPN
fsr-3373	124	3	of	of	ADP
fsr-3373	124	4	the	the	DET
fsr-3373	124	5	following	following	ADJ
fsr-3373	124	6	year	year	NOUN
fsr-3373	124	7	,	,	PUNCT
fsr-3373	124	8	the	the	DET
fsr-3373	124	9	percentages	percentage	NOUN
fsr-3373	124	10	are	be	AUX
fsr-3373	124	11	reset	reset	ADJ
fsr-3373	124	12	to	to	ADP
fsr-3373	124	13	their	their	PRON
fsr-3373	124	14	original	original	ADJ
fsr-3373	124	15	values	value	NOUN
fsr-3373	124	16	with	with	ADP
fsr-3373	124	17	a	a	DET
fsr-3373	124	18	90	90	NUM
fsr-3373	124	19	%	%	NOUN
fsr-3373	124	20	floor	floor	NOUN
fsr-3373	124	21	based	base	VERB
fsr-3373	124	22	on	on	ADP
fsr-3373	124	23	the	the	DET
fsr-3373	124	24	value	value	NOUN
fsr-3373	124	25	of	of	ADP
fsr-3373	124	26	the	the	DET
fsr-3373	124	27	portfolio	portfolio	NOUN
fsr-3373	124	28	at	at	ADP
fsr-3373	124	29	the	the	DET
fsr-3373	124	30	end	end	NOUN
fsr-3373	124	31	of	of	ADP
fsr-3373	124	32	december	december	PROPN
fsr-3373	124	33	.	.	PUNCT
fsr-3373	125	1	it	it	PRON
fsr-3373	125	2	should	should	AUX
fsr-3373	125	3	be	be	AUX
fsr-3373	125	4	noted	note	VERB
fsr-3373	125	5	the	the	DET
fsr-3373	125	6	results	result	NOUN
fsr-3373	125	7	in	in	ADP
fsr-3373	125	8	this	this	DET
fsr-3373	125	9	study	study	NOUN
fsr-3373	125	10	do	do	AUX
fsr-3373	125	11	not	not	PART
fsr-3373	125	12	explicitly	explicitly	ADV
fsr-3373	125	13	account	account	VERB
fsr-3373	125	14	for	for	ADP
fsr-3373	125	15	brokerage	brokerage	NOUN
fsr-3373	125	16	costs	cost	NOUN
fsr-3373	125	17	or	or	CCONJ
fsr-3373	125	18	for	for	ADP
fsr-3373	125	19	bid	bid	NOUN
fsr-3373	125	20	-	-	PUNCT
fsr-3373	125	21	ask	ask	NOUN
fsr-3373	125	22	spreads	spread	NOUN
fsr-3373	125	23	,	,	PUNCT
fsr-3373	125	24	although	although	SCONJ
fsr-3373	125	25	the	the	DET
fsr-3373	125	26	latter	latter	ADJ
fsr-3373	125	27	are	be	AUX
fsr-3373	125	28	usually	usually	ADV
fsr-3373	125	29	a	a	DET
fsr-3373	125	30	few	few	ADJ
fsr-3373	125	31	cents	cent	NOUN
fsr-3373	125	32	a	a	DET
fsr-3373	125	33	share	share	NOUN
fsr-3373	125	34	at	at	ADP
fsr-3373	125	35	most	most	ADJ
fsr-3373	125	36	.	.	PUNCT
fsr-3373	126	1	because	because	SCONJ
fsr-3373	126	2	all	all	DET
fsr-3373	126	3	the	the	DET
fsr-3373	126	4	cppi	cppi	NOUN
fsr-3373	126	5	strategies	strategy	NOUN
fsr-3373	126	6	require	require	VERB
fsr-3373	126	7	equal	equal	ADJ
fsr-3373	126	8	number	number	NOUN
fsr-3373	126	9	of	of	ADP
fsr-3373	126	10	transactions	transaction	NOUN
fsr-3373	126	11	,	,	PUNCT
fsr-3373	126	12	the	the	DET
fsr-3373	126	13	relative	relative	ADJ
fsr-3373	126	14	results	result	NOUN
fsr-3373	126	15	between	between	ADP
fsr-3373	126	16	the	the	DET
fsr-3373	126	17	cppi	cppi	NOUN
fsr-3373	126	18	strategies	strategy	NOUN
fsr-3373	126	19	are	be	AUX
fsr-3373	126	20	not	not	PART
fsr-3373	126	21	biased	biased	ADJ
fsr-3373	126	22	,	,	PUNCT
fsr-3373	126	23	but	but	CCONJ
fsr-3373	126	24	depending	depend	VERB
fsr-3373	126	25	on	on	ADP
fsr-3373	126	26	the	the	DET
fsr-3373	126	27	size	size	NOUN
fsr-3373	126	28	of	of	ADP
fsr-3373	126	29	the	the	DET
fsr-3373	126	30	portfolio	portfolio	NOUN
fsr-3373	126	31	,	,	PUNCT
fsr-3373	126	32	may	may	AUX
fsr-3373	126	33	overstate	overstate	VERB
fsr-3373	126	34	results	result	NOUN
fsr-3373	126	35	relative	relative	ADJ
fsr-3373	126	36	to	to	PART
fsr-3373	126	37	buy	buy	AUX
fsr-3373	126	38	-	-	PUNCT
fsr-3373	126	39	andhold	andhold	VERB
fsr-3373	126	40	.	.	PUNCT
fsr-3373	127	1	for	for	ADP
fsr-3373	127	2	a	a	DET
fsr-3373	127	3	$	$	SYM
fsr-3373	127	4	100,000	100,000	NUM
fsr-3373	127	5	portfolio	portfolio	NOUN
fsr-3373	127	6	,	,	PUNCT
fsr-3373	127	7	brokerage	brokerage	NOUN
fsr-3373	127	8	costs	cost	NOUN
fsr-3373	127	9	would	would	AUX
fsr-3373	127	10	be	be	AUX
fsr-3373	127	11	approximately	approximately	ADV
fsr-3373	127	12	0.2	0.2	NUM
fsr-3373	127	13	%	%	NOUN
fsr-3373	127	14	annually	annually	ADV
fsr-3373	127	15	.	.	PUNCT
fsr-3373	128	1	because	because	SCONJ
fsr-3373	128	2	the	the	DET
fsr-3373	128	3	two	two	NUM
fsr-3373	128	4	major	major	ADJ
fsr-3373	128	5	letfs	letfs	NOUN
fsr-3373	128	6	on	on	ADP
fsr-3373	128	7	the	the	DET
fsr-3373	128	8	s&p	s&p	PROPN
fsr-3373	128	9	500	500	NUM
fsr-3373	128	10	were	be	AUX
fsr-3373	128	11	not	not	PART
fsr-3373	128	12	introduced	introduce	VERB
fsr-3373	128	13	until	until	ADP
fsr-3373	128	14	2006	2006	NUM
fsr-3373	128	15	and	and	CCONJ
fsr-3373	128	16	2009	2009	NUM
fsr-3373	128	17	,	,	PUNCT
fsr-3373	128	18	respectively	respectively	ADV
fsr-3373	128	19	,	,	PUNCT
fsr-3373	128	20	theoretical	theoretical	ADJ
fsr-3373	128	21	letf	letf	ADJ
fsr-3373	128	22	returns	return	NOUN
fsr-3373	128	23	are	be	AUX
fsr-3373	128	24	calculated	calculate	VERB
fsr-3373	128	25	to	to	PART
fsr-3373	128	26	attain	attain	VERB
fsr-3373	128	27	a	a	DET
fsr-3373	128	28	clearer	clear	ADJ
fsr-3373	128	29	picture	picture	NOUN
fsr-3373	128	30	of	of	ADP
fsr-3373	128	31	the	the	DET
fsr-3373	128	32	risk	risk	NOUN
fsr-3373	128	33	/	/	SYM
fsr-3373	128	34	return	return	NOUN
fsr-3373	128	35	characteristics	characteristic	NOUN
fsr-3373	128	36	from	from	ADP
fsr-3373	128	37	the	the	DET
fsr-3373	128	38	cppi	cppi	NOUN
fsr-3373	128	39	strategies	strategy	NOUN
fsr-3373	128	40	.	.	PUNCT
fsr-3373	129	1	the	the	DET
fsr-3373	129	2	center	center	NOUN
fsr-3373	129	3	for	for	ADP
fsr-3373	129	4	research	research	NOUN
fsr-3373	129	5	in	in	ADP
fsr-3373	129	6	security	security	NOUN
fsr-3373	129	7	price	price	NOUN
fsr-3373	129	8	’s	’s	PART
fsr-3373	129	9	(	(	PUNCT
fsr-3373	129	10	crsp	crsp	ADJ
fsr-3373	129	11	)	)	PUNCT
fsr-3373	129	12	s&p	s&p	PROPN
fsr-3373	129	13	500	500	NUM
fsr-3373	129	14	value	value	NOUN
fsr-3373	129	15	weighted	weight	VERB
fsr-3373	129	16	portfolio	portfolio	NOUN
fsr-3373	129	17	is	be	AUX
fsr-3373	129	18	used	use	VERB
fsr-3373	129	19	as	as	ADP
fsr-3373	129	20	the	the	DET
fsr-3373	129	21	risky	risky	ADJ
fsr-3373	129	22	asset	asset	NOUN
fsr-3373	129	23	and	and	CCONJ
fsr-3373	129	24	2x	2x	NUM
fsr-3373	129	25	,	,	PUNCT
fsr-3373	129	26	3x	3x	NUM
fsr-3373	129	27	,	,	PUNCT
fsr-3373	129	28	and	and	CCONJ
fsr-3373	129	29	4x	4x	NUM
fsr-3373	129	30	returns	return	NOUN
fsr-3373	129	31	are	be	AUX
fsr-3373	129	32	calculated	calculate	VERB
fsr-3373	129	33	assuming	assume	VERB
fsr-3373	129	34	a	a	DET
fsr-3373	129	35	1.2	1.2	NUM
fsr-3373	129	36	%	%	NOUN
fsr-3373	129	37	annual	annual	ADJ
fsr-3373	129	38	expense	expense	NOUN
fsr-3373	129	39	ratio	ratio	NOUN
fsr-3373	129	40	which	which	PRON
fsr-3373	129	41	is	be	AUX
fsr-3373	129	42	approximately	approximately	ADV
fsr-3373	129	43	0.2	0.2	NUM
fsr-3373	129	44	percentage	percentage	NOUN
fsr-3373	129	45	points	point	NOUN
fsr-3373	129	46	higher	high	ADJ
fsr-3373	129	47	than	than	ADP
fsr-3373	129	48	the	the	DET
fsr-3373	129	49	expense	expense	NOUN
fsr-3373	129	50	ratio	ratio	NOUN
fsr-3373	129	51	for	for	ADP
fsr-3373	129	52	s&p	s&p	PROPN
fsr-3373	129	53	500	500	NUM
fsr-3373	129	54	letfs	letfs	NOUN
fsr-3373	129	55	.	.	PUNCT
fsr-3373	130	1	the	the	DET
fsr-3373	130	2	reason	reason	NOUN
fsr-3373	130	3	for	for	ADP
fsr-3373	130	4	the	the	DET
fsr-3373	130	5	higher	high	ADJ
fsr-3373	130	6	expense	expense	NOUN
fsr-3373	130	7	ratio	ratio	NOUN
fsr-3373	130	8	is	be	AUX
fsr-3373	130	9	explained	explain	VERB
fsr-3373	130	10	below	below	ADV
fsr-3373	130	11	.	.	PUNCT
fsr-3373	131	1	following	follow	VERB
fsr-3373	131	2	scott	scott	PROPN
fsr-3373	131	3	and	and	CCONJ
fsr-3373	131	4	watsun	watsun	PROPN
fsr-3373	131	5	(	(	PUNCT
fsr-3373	131	6	2013	2013	NUM
fsr-3373	131	7	)	)	PUNCT
fsr-3373	131	8	,	,	PUNCT
fsr-3373	131	9	the	the	DET
fsr-3373	131	10	daily	daily	ADJ
fsr-3373	131	11	returns	return	NOUN
fsr-3373	131	12	for	for	ADP
fsr-3373	131	13	the	the	DET
fsr-3373	131	14	2x	2x	NUM
fsr-3373	131	15	,	,	PUNCT
fsr-3373	131	16	3x	3x	NUM
fsr-3373	131	17	,	,	PUNCT
fsr-3373	131	18	and	and	CCONJ
fsr-3373	131	19	4x	4x	NUM
fsr-3373	131	20	letfs	letfs	PROPN
fsr-3373	131	21	are	be	AUX
fsr-3373	131	22	calculated	calculate	VERB
fsr-3373	131	23	as	as	ADP
fsr-3373	131	24	:	:	PUNCT
fsr-3373	131	25	rl	rl	PART
fsr-3373	131	26	�	�	PROPN
fsr-3373	131	27	l	l	PROPN
fsr-3373	131	28	�	�	PROPN
fsr-3373	131	29	rs&p	rs&p	PROPN
fsr-3373	131	30	�	�	PROPN
fsr-3373	131	31	rexp	rexp	PROPN
fsr-3373	131	32	�	�	PROPN
fsr-3373	131	33	(	(	PUNCT
fsr-3373	131	34	l-1	l-1	PROPN
fsr-3373	131	35	)	)	PUNCT
fsr-3373	131	36	�	�	PROPN
fsr-3373	131	37	rf	rf	CCONJ
fsr-3373	131	38	(	(	PUNCT
fsr-3373	131	39	2	2	NUM
fsr-3373	131	40	)	)	PUNCT
fsr-3373	131	41	where	where	SCONJ
fsr-3373	131	42	rl	rl	PROPN
fsr-3373	131	43	is	be	AUX
fsr-3373	131	44	the	the	DET
fsr-3373	131	45	daily	daily	ADJ
fsr-3373	131	46	return	return	NOUN
fsr-3373	131	47	to	to	ADP
fsr-3373	131	48	the	the	DET
fsr-3373	131	49	letf	letf	NOUN
fsr-3373	131	50	with	with	ADP
fsr-3373	131	51	a	a	DET
fsr-3373	131	52	daily	daily	ADJ
fsr-3373	131	53	leverage	leverage	NOUN
fsr-3373	131	54	ratio	ratio	NOUN
fsr-3373	131	55	of	of	ADP
fsr-3373	131	56	l	l	NOUN
fsr-3373	131	57	,	,	PUNCT
fsr-3373	131	58	rs&p	rs&p	PROPN
fsr-3373	131	59	is	be	AUX
fsr-3373	131	60	the	the	DET
fsr-3373	131	61	daily	daily	ADJ
fsr-3373	131	62	return	return	NOUN
fsr-3373	131	63	of	of	ADP
fsr-3373	131	64	the	the	DET
fsr-3373	131	65	s&p	s&p	PROPN
fsr-3373	131	66	,	,	PUNCT
fsr-3373	131	67	rexp	rexp	NOUN
fsr-3373	131	68	is	be	AUX
fsr-3373	131	69	the	the	DET
fsr-3373	131	70	daily	daily	ADJ
fsr-3373	131	71	expense	expense	NOUN
fsr-3373	131	72	ratio	ratio	NOUN
fsr-3373	131	73	,	,	PUNCT
fsr-3373	131	74	and	and	CCONJ
fsr-3373	131	75	rf	rf	PRON
fsr-3373	131	76	is	be	AUX
fsr-3373	131	77	the	the	DET
fsr-3373	131	78	borrowing	borrowing	NOUN
fsr-3373	131	79	rate	rate	NOUN
fsr-3373	131	80	using	use	VERB
fsr-3373	131	81	the	the	DET
fsr-3373	131	82	90	90	NUM
fsr-3373	131	83	-	-	PUNCT
fsr-3373	131	84	day	day	NOUN
fsr-3373	131	85	t	t	PROPN
fsr-3373	131	86	-	-	PUNCT
fsr-3373	131	87	bill	bill	NOUN
fsr-3373	131	88	rate	rate	NOUN
fsr-3373	131	89	as	as	ADP
fsr-3373	131	90	a	a	DET
fsr-3373	131	91	proxy	proxy	NOUN
fsr-3373	131	92	.	.	PUNCT
fsr-3373	132	1	strictly	strictly	ADV
fsr-3373	132	2	speaking	speak	VERB
fsr-3373	132	3	,	,	PUNCT
fsr-3373	132	4	the	the	DET
fsr-3373	132	5	one	one	NUM
fsr-3373	132	6	-	-	PUNCT
fsr-3373	132	7	week	week	NOUN
fsr-3373	132	8	/	/	SYM
fsr-3373	132	9	month	month	NOUN
fsr-3373	132	10	libor	libor	PROPN
fsr-3373	132	11	rate	rate	NOUN
fsr-3373	132	12	should	should	AUX
fsr-3373	132	13	be	be	AUX
fsr-3373	132	14	used	use	VERB
fsr-3373	132	15	,	,	PUNCT
fsr-3373	132	16	but	but	CCONJ
fsr-3373	132	17	libor	libor	PROPN
fsr-3373	132	18	data	data	PROPN
fsr-3373	132	19	begins	begin	VERB
fsr-3373	132	20	in	in	ADP
fsr-3373	132	21	1986	1986	NUM
fsr-3373	132	22	and	and	CCONJ
fsr-3373	132	23	to	to	PART
fsr-3373	132	24	remain	remain	VERB
fsr-3373	132	25	consistent	consistent	ADJ
fsr-3373	132	26	with	with	ADP
fsr-3373	132	27	sampled	sample	VERB
fsr-3373	132	28	returns	return	NOUN
fsr-3373	132	29	before	before	ADP
fsr-3373	132	30	this	this	DET
fsr-3373	132	31	date	date	NOUN
fsr-3373	132	32	,	,	PUNCT
fsr-3373	132	33	the	the	DET
fsr-3373	132	34	90	90	NUM
fsr-3373	132	35	-	-	PUNCT
fsr-3373	132	36	day	day	NOUN
fsr-3373	132	37	t	t	PROPN
fsr-3373	132	38	-	-	PUNCT
fsr-3373	132	39	bill	bill	NOUN
fsr-3373	132	40	rate	rate	NOUN
fsr-3373	132	41	is	be	AUX
fsr-3373	132	42	used	use	VERB
fsr-3373	132	43	.	.	PUNCT
fsr-3373	133	1	the	the	DET
fsr-3373	133	2	90	90	NUM
fsr-3373	133	3	-	-	PUNCT
fsr-3373	133	4	day	day	NOUN
fsr-3373	133	5	t	t	PROPN
fsr-3373	133	6	-	-	PUNCT
fsr-3373	133	7	bill	bill	NOUN
fsr-3373	133	8	has	have	VERB
fsr-3373	133	9	a	a	DET
fsr-3373	133	10	98	98	NUM
fsr-3373	133	11	%	%	NOUN
fsr-3373	133	12	correlation	correlation	NOUN
fsr-3373	133	13	with	with	ADP
fsr-3373	133	14	libor	libor	PROPN
fsr-3373	133	15	and	and	CCONJ
fsr-3373	133	16	averages	average	NOUN
fsr-3373	133	17	0.2	0.2	NUM
fsr-3373	133	18	%	%	NOUN
fsr-3373	133	19	less	less	ADJ
fsr-3373	133	20	than	than	ADP
fsr-3373	133	21	libor	libor	PROPN
fsr-3373	133	22	.	.	PROPN
fsr-3373	134	1	392	392	NUM
fsr-3373	134	2	j.	j.	PROPN
fsr-3373	134	3	george	george	PROPN
fsr-3373	134	4	,	,	PUNCT
fsr-3373	134	5	w.j	w.j	PROPN
fsr-3373	134	6	.	.	PROPN
fsr-3373	134	7	trainor	trainor	PROPN
fsr-3373	134	8	/	/	SYM
fsr-3373	134	9	financial	financial	ADJ
fsr-3373	134	10	services	service	NOUN
fsr-3373	134	11	review	review	VERB
fsr-3373	134	12	26	26	NUM
fsr-3373	134	13	(	(	PUNCT
fsr-3373	134	14	2017	2017	NUM
fsr-3373	134	15	)	)	PUNCT
fsr-3373	134	16	387–403	387–403	NUM
fsr-3373	134	17	the	the	DET
fsr-3373	134	18	logic	logic	NOUN
fsr-3373	134	19	behind	behind	ADP
fsr-3373	134	20	eq	eq	PROPN
fsr-3373	134	21	.	.	PUNCT
fsr-3373	135	1	(	(	PUNCT
fsr-3373	135	2	2	2	X
fsr-3373	135	3	)	)	PUNCT
fsr-3373	135	4	is	be	AUX
fsr-3373	135	5	a	a	DET
fsr-3373	135	6	2x	2x	NUM
fsr-3373	135	7	has	have	AUX
fsr-3373	135	8	increased	increase	VERB
fsr-3373	135	9	exposure	exposure	NOUN
fsr-3373	135	10	by	by	ADP
fsr-3373	135	11	borrowing	borrow	VERB
fsr-3373	135	12	$	$	SYM
fsr-3373	135	13	1	1	NUM
fsr-3373	135	14	for	for	ADP
fsr-3373	135	15	every	every	DET
fsr-3373	135	16	$	$	SYM
fsr-3373	135	17	1	1	NUM
fsr-3373	135	18	invested	invest	VERB
fsr-3373	135	19	.	.	PUNCT
fsr-3373	136	1	a	a	DET
fsr-3373	136	2	3x	3x	PROPN
fsr-3373	136	3	borrows	borrow	VERB
fsr-3373	136	4	$	$	SYM
fsr-3373	136	5	2	2	NUM
fsr-3373	136	6	for	for	ADP
fsr-3373	136	7	every	every	DET
fsr-3373	136	8	$	$	SYM
fsr-3373	136	9	1	1	NUM
fsr-3373	136	10	invested	invest	VERB
fsr-3373	136	11	.	.	PUNCT
fsr-3373	137	1	since	since	SCONJ
fsr-3373	137	2	letfs	letfs	PROPN
fsr-3373	137	3	primarily	primarily	ADV
fsr-3373	137	4	attain	attain	VERB
fsr-3373	137	5	their	their	PRON
fsr-3373	137	6	exposure	exposure	NOUN
fsr-3373	137	7	using	use	VERB
fsr-3373	137	8	swaps	swap	NOUN
fsr-3373	137	9	,	,	PUNCT
fsr-3373	137	10	there	there	PRON
fsr-3373	137	11	are	be	VERB
fsr-3373	137	12	imbedded	imbed	VERB
fsr-3373	137	13	financing	financing	NOUN
fsr-3373	137	14	costs	cost	NOUN
fsr-3373	137	15	increasing	increase	VERB
fsr-3373	137	16	with	with	ADP
fsr-3373	137	17	leverage	leverage	NOUN
fsr-3373	137	18	(	(	PUNCT
fsr-3373	137	19	charupat	charupat	NOUN
fsr-3373	137	20	and	and	CCONJ
fsr-3373	137	21	miu	miu	PROPN
fsr-3373	137	22	,	,	PUNCT
fsr-3373	137	23	2014	2014	NUM
fsr-3373	137	24	)	)	PUNCT
fsr-3373	137	25	.	.	PUNCT
fsr-3373	138	1	in	in	ADP
fsr-3373	138	2	addition	addition	NOUN
fsr-3373	138	3	,	,	PUNCT
fsr-3373	138	4	there	there	PRON
fsr-3373	138	5	are	be	VERB
fsr-3373	138	6	additional	additional	ADJ
fsr-3373	138	7	transactions	transaction	NOUN
fsr-3373	138	8	costs	cost	NOUN
fsr-3373	138	9	not	not	PART
fsr-3373	138	10	reflected	reflect	VERB
fsr-3373	138	11	in	in	ADP
fsr-3373	138	12	letfs	letfs	PROPN
fsr-3373	138	13	expense	expense	NOUN
fsr-3373	138	14	ratio	ratio	NOUN
fsr-3373	138	15	that	that	PRON
fsr-3373	138	16	are	be	AUX
fsr-3373	138	17	generally	generally	ADV
fsr-3373	138	18	higher	high	ADJ
fsr-3373	138	19	for	for	ADP
fsr-3373	138	20	these	these	DET
fsr-3373	138	21	funds	fund	NOUN
fsr-3373	138	22	because	because	SCONJ
fsr-3373	138	23	of	of	ADP
fsr-3373	138	24	the	the	DET
fsr-3373	138	25	use	use	NOUN
fsr-3373	138	26	of	of	ADP
fsr-3373	138	27	derivative	derivative	ADJ
fsr-3373	138	28	contracts	contract	NOUN
fsr-3373	138	29	.	.	PUNCT
fsr-3373	139	1	to	to	PART
fsr-3373	139	2	test	test	VERB
fsr-3373	139	3	this	this	DET
fsr-3373	139	4	pricing	pricing	NOUN
fsr-3373	139	5	equation	equation	NOUN
fsr-3373	139	6	,	,	PUNCT
fsr-3373	139	7	theoretical	theoretical	ADJ
fsr-3373	139	8	daily	daily	ADV
fsr-3373	139	9	,	,	PUNCT
fsr-3373	139	10	monthly	monthly	ADV
fsr-3373	139	11	,	,	PUNCT
fsr-3373	139	12	and	and	CCONJ
fsr-3373	139	13	annual	annual	ADJ
fsr-3373	139	14	returns	return	NOUN
fsr-3373	139	15	for	for	ADP
fsr-3373	139	16	a	a	DET
fsr-3373	139	17	2x	2x	NUM
fsr-3373	139	18	and	and	CCONJ
fsr-3373	139	19	3x	3x	NUM
fsr-3373	139	20	are	be	AUX
fsr-3373	139	21	compared	compare	VERB
fsr-3373	139	22	with	with	ADP
fsr-3373	139	23	the	the	DET
fsr-3373	139	24	actual	actual	ADJ
fsr-3373	139	25	daily	daily	NOUN
fsr-3373	139	26	,	,	PUNCT
fsr-3373	139	27	monthly	monthly	ADV
fsr-3373	139	28	,	,	PUNCT
fsr-3373	139	29	and	and	CCONJ
fsr-3373	139	30	annual	annual	ADJ
fsr-3373	139	31	returns	return	NOUN
fsr-3373	139	32	of	of	ADP
fsr-3373	139	33	proshare	proshare	NOUN
fsr-3373	139	34	’s	’s	PART
fsr-3373	139	35	2x	2x	NUM
fsr-3373	139	36	sso	sso	NOUN
fsr-3373	139	37	and	and	CCONJ
fsr-3373	139	38	3x	3x	PROPN
fsr-3373	139	39	upro	upro	PROPN
fsr-3373	139	40	on	on	ADP
fsr-3373	139	41	the	the	DET
fsr-3373	139	42	s&p	s&p	PROPN
fsr-3373	139	43	500	500	NUM
fsr-3373	139	44	,	,	PUNCT
fsr-3373	139	45	and	and	CCONJ
fsr-3373	139	46	their	their	PRON
fsr-3373	139	47	2x	2x	NUM
fsr-3373	139	48	sqd	sqd	NOUN
fsr-3373	139	49	and	and	CCONJ
fsr-3373	139	50	3x	3x	PROPN
fsr-3373	139	51	tqqq	tqqq	NOUN
fsr-3373	139	52	on	on	ADP
fsr-3373	139	53	the	the	DET
fsr-3373	139	54	nasdaq	nasdaq	PROPN
fsr-3373	139	55	100	100	NUM
fsr-3373	139	56	.	.	PUNCT
fsr-3373	140	1	to	to	PART
fsr-3373	140	2	create	create	VERB
fsr-3373	140	3	near	near	ADP
fsr-3373	140	4	equivalence	equivalence	NOUN
fsr-3373	140	5	for	for	ADP
fsr-3373	140	6	daily	daily	ADV
fsr-3373	140	7	,	,	PUNCT
fsr-3373	140	8	monthly	monthly	ADV
fsr-3373	140	9	,	,	PUNCT
fsr-3373	140	10	and	and	CCONJ
fsr-3373	140	11	annual	annual	ADJ
fsr-3373	140	12	returns	return	NOUN
fsr-3373	140	13	between	between	ADP
fsr-3373	140	14	the	the	DET
fsr-3373	140	15	letfs	letfs	PROPN
fsr-3373	140	16	and	and	CCONJ
fsr-3373	140	17	the	the	DET
fsr-3373	140	18	simulated	simulated	ADJ
fsr-3373	140	19	returns	return	NOUN
fsr-3373	140	20	,	,	PUNCT
fsr-3373	140	21	the	the	DET
fsr-3373	140	22	annual	annual	ADJ
fsr-3373	140	23	expense	expense	NOUN
fsr-3373	140	24	ratio	ratio	NOUN
fsr-3373	140	25	is	be	AUX
fsr-3373	140	26	increased	increase	VERB
fsr-3373	140	27	from	from	ADP
fsr-3373	140	28	1.0	1.0	NUM
fsr-3373	140	29	to	to	PART
fsr-3373	140	30	1.2	1.2	NUM
fsr-3373	140	31	%	%	NOUN
fsr-3373	140	32	which	which	PRON
fsr-3373	140	33	coincides	coincide	VERB
fsr-3373	140	34	with	with	ADP
fsr-3373	140	35	the	the	DET
fsr-3373	140	36	exact	exact	ADJ
fsr-3373	140	37	amount	amount	NOUN
fsr-3373	140	38	of	of	ADP
fsr-3373	140	39	the	the	DET
fsr-3373	140	40	average	average	ADJ
fsr-3373	140	41	difference	difference	NOUN
fsr-3373	140	42	between	between	ADP
fsr-3373	140	43	the	the	DET
fsr-3373	140	44	90	90	NUM
fsr-3373	140	45	-	-	PUNCT
fsr-3373	140	46	day	day	NOUN
fsr-3373	140	47	t	t	PROPN
fsr-3373	140	48	-	-	PUNCT
fsr-3373	140	49	bill	bill	PROPN
fsr-3373	140	50	and	and	CCONJ
fsr-3373	140	51	libor	libor	PROPN
fsr-3373	140	52	.	.	PUNCT
fsr-3373	141	1	this	this	PRON
fsr-3373	141	2	results	result	VERB
fsr-3373	141	3	in	in	ADP
fsr-3373	141	4	average	average	ADJ
fsr-3373	141	5	daily	daily	ADJ
fsr-3373	141	6	and	and	CCONJ
fsr-3373	141	7	monthly	monthly	ADJ
fsr-3373	141	8	differences	difference	NOUN
fsr-3373	141	9	at	at	ADP
fsr-3373	141	10	or	or	CCONJ
fsr-3373	141	11	close	close	ADJ
fsr-3373	141	12	to	to	ADP
fsr-3373	141	13	zero	zero	NUM
fsr-3373	141	14	and	and	CCONJ
fsr-3373	141	15	average	average	ADJ
fsr-3373	141	16	annual	annual	ADJ
fsr-3373	141	17	differences	difference	NOUN
fsr-3373	141	18	less	less	ADJ
fsr-3373	141	19	than	than	ADP
fsr-3373	141	20	0.1	0.1	NUM
fsr-3373	141	21	%	%	NOUN
fsr-3373	141	22	.	.	PUNCT
fsr-3373	142	1	as	as	ADP
fsr-3373	142	2	an	an	DET
fsr-3373	142	3	example	example	NOUN
fsr-3373	142	4	of	of	ADP
fsr-3373	142	5	the	the	DET
fsr-3373	142	6	differences	difference	NOUN
fsr-3373	142	7	,	,	PUNCT
fsr-3373	142	8	for	for	ADP
fsr-3373	142	9	2016	2016	NUM
fsr-3373	142	10	,	,	PUNCT
fsr-3373	142	11	the	the	DET
fsr-3373	142	12	2x	2x	NUM
fsr-3373	142	13	sso	sso	NOUN
fsr-3373	142	14	return	return	NOUN
fsr-3373	142	15	is	be	AUX
fsr-3373	142	16	21.5	21.5	NUM
fsr-3373	142	17	%	%	NOUN
fsr-3373	142	18	while	while	SCONJ
fsr-3373	142	19	the	the	DET
fsr-3373	142	20	theoretical	theoretical	ADJ
fsr-3373	142	21	return	return	NOUN
fsr-3373	142	22	was	be	AUX
fsr-3373	142	23	21.6	21.6	NUM
fsr-3373	142	24	%	%	NOUN
fsr-3373	142	25	.	.	PUNCT
fsr-3373	143	1	for	for	ADP
fsr-3373	143	2	the	the	DET
fsr-3373	143	3	nasdaq	nasdaq	PROPN
fsr-3373	143	4	2x	2x	NUM
fsr-3373	143	5	,	,	PUNCT
fsr-3373	143	6	both	both	CCONJ
fsr-3373	143	7	the	the	DET
fsr-3373	143	8	2x	2x	NUM
fsr-3373	143	9	sqd	sqd	NOUN
fsr-3373	143	10	and	and	CCONJ
fsr-3373	143	11	simulated	simulate	VERB
fsr-3373	143	12	2x	2x	NUM
fsr-3373	143	13	had	have	VERB
fsr-3373	143	14	returns	return	NOUN
fsr-3373	143	15	of	of	ADP
fsr-3373	143	16	exactly	exactly	ADV
fsr-3373	143	17	10.2	10.2	NUM
fsr-3373	143	18	%	%	NOUN
fsr-3373	143	19	.	.	PUNCT
fsr-3373	144	1	based	base	VERB
fsr-3373	144	2	on	on	ADP
fsr-3373	144	3	the	the	DET
fsr-3373	144	4	reliability	reliability	NOUN
fsr-3373	144	5	of	of	ADP
fsr-3373	144	6	the	the	DET
fsr-3373	144	7	results	result	NOUN
fsr-3373	144	8	above	above	ADV
fsr-3373	144	9	,	,	PUNCT
fsr-3373	144	10	letf	letf	ADJ
fsr-3373	144	11	returns	return	NOUN
fsr-3373	144	12	are	be	AUX
fsr-3373	144	13	calculated	calculate	VERB
fsr-3373	144	14	from	from	ADP
fsr-3373	144	15	jan	jan	PROPN
fsr-3373	144	16	.	.	PROPN
fsr-3373	144	17	1947	1947	NUM
fsr-3373	144	18	to	to	ADP
fsr-3373	144	19	dec	dec	PROPN
fsr-3373	144	20	.	.	PROPN
fsr-3373	144	21	2016	2016	NUM
fsr-3373	144	22	using	use	VERB
fsr-3373	144	23	daily	daily	ADJ
fsr-3373	144	24	data	datum	NOUN
fsr-3373	144	25	based	base	VERB
fsr-3373	144	26	on	on	ADP
fsr-3373	144	27	eq	eq	PROPN
fsr-3373	144	28	.	.	PUNCT
fsr-3373	145	1	(	(	PUNCT
fsr-3373	145	2	2	2	NUM
fsr-3373	145	3	)	)	PUNCT
fsr-3373	145	4	.	.	PUNCT
fsr-3373	146	1	in	in	ADP
fsr-3373	146	2	addition	addition	NOUN
fsr-3373	146	3	to	to	ADP
fsr-3373	146	4	these	these	DET
fsr-3373	146	5	results	result	NOUN
fsr-3373	146	6	,	,	PUNCT
fsr-3373	146	7	empirical	empirical	ADJ
fsr-3373	146	8	data	datum	NOUN
fsr-3373	146	9	using	use	VERB
fsr-3373	146	10	proshare	proshare	NOUN
fsr-3373	146	11	’s	’s	PART
fsr-3373	146	12	2x	2x	NUM
fsr-3373	146	13	sso	sso	NOUN
fsr-3373	146	14	is	be	AUX
fsr-3373	146	15	presented	present	VERB
fsr-3373	146	16	for	for	ADP
fsr-3373	146	17	2007–2016	2007–2016	NUM
fsr-3373	146	18	.	.	PUNCT
fsr-3373	147	1	finally	finally	ADV
fsr-3373	147	2	,	,	PUNCT
fsr-3373	147	3	to	to	PART
fsr-3373	147	4	determine	determine	VERB
fsr-3373	147	5	the	the	DET
fsr-3373	147	6	robustness	robustness	NOUN
fsr-3373	147	7	of	of	ADP
fsr-3373	147	8	the	the	DET
fsr-3373	147	9	results	result	NOUN
fsr-3373	147	10	,	,	PUNCT
fsr-3373	147	11	block	block	NOUN
fsr-3373	147	12	bootstrapping	bootstrappe	VERB
fsr-3373	147	13	is	be	AUX
fsr-3373	147	14	used	use	VERB
fsr-3373	147	15	to	to	PART
fsr-3373	147	16	resample	resample	VERB
fsr-3373	147	17	252	252	NUM
fsr-3373	147	18	daily	daily	ADJ
fsr-3373	147	19	return	return	NOUN
fsr-3373	147	20	windows	window	NOUN
fsr-3373	147	21	to	to	PART
fsr-3373	147	22	create	create	VERB
fsr-3373	147	23	10,000	10,000	NUM
fsr-3373	147	24	unique	unique	ADJ
fsr-3373	147	25	annual	annual	ADJ
fsr-3373	147	26	returns	return	NOUN
fsr-3373	147	27	.	.	PUNCT
fsr-3373	148	1	the	the	DET
fsr-3373	148	2	252	252	NUM
fsr-3373	148	3	-	-	PUNCT
fsr-3373	148	4	day	day	NOUN
fsr-3373	148	5	blocks	block	NOUN
fsr-3373	148	6	are	be	AUX
fsr-3373	148	7	used	use	VERB
fsr-3373	148	8	to	to	PART
fsr-3373	148	9	keep	keep	VERB
fsr-3373	148	10	the	the	DET
fsr-3373	148	11	continuity	continuity	NOUN
fsr-3373	148	12	of	of	ADP
fsr-3373	148	13	the	the	DET
fsr-3373	148	14	interest	interest	NOUN
fsr-3373	148	15	rate	rate	NOUN
fsr-3373	148	16	environments	environment	NOUN
fsr-3373	148	17	associated	associate	VERB
fsr-3373	148	18	with	with	ADP
fsr-3373	148	19	the	the	DET
fsr-3373	148	20	stock	stock	NOUN
fsr-3373	148	21	returns	return	NOUN
fsr-3373	148	22	during	during	ADP
fsr-3373	148	23	that	that	DET
fsr-3373	148	24	252	252	NUM
fsr-3373	148	25	-	-	PUNCT
fsr-3373	148	26	day	day	NOUN
fsr-3373	148	27	period	period	NOUN
fsr-3373	148	28	,	,	PUNCT
fsr-3373	148	29	although	although	SCONJ
fsr-3373	148	30	5	5	NUM
fsr-3373	148	31	,	,	PUNCT
fsr-3373	148	32	22	22	NUM
fsr-3373	148	33	,	,	PUNCT
fsr-3373	148	34	and	and	CCONJ
fsr-3373	148	35	63	63	NUM
fsr-3373	148	36	-	-	PUNCT
fsr-3373	148	37	day	day	NOUN
fsr-3373	148	38	blocks	block	NOUN
fsr-3373	148	39	are	be	AUX
fsr-3373	148	40	also	also	ADV
fsr-3373	148	41	examined	examine	VERB
fsr-3373	148	42	with	with	ADP
fsr-3373	148	43	no	no	DET
fsr-3373	148	44	substantial	substantial	ADJ
fsr-3373	148	45	change	change	NOUN
fsr-3373	148	46	in	in	ADP
fsr-3373	148	47	the	the	DET
fsr-3373	148	48	average	average	ADJ
fsr-3373	148	49	results	result	NOUN
fsr-3373	148	50	.	.	PUNCT
fsr-3373	149	1	because	because	SCONJ
fsr-3373	149	2	the	the	DET
fsr-3373	149	3	floor	floor	NOUN
fsr-3373	149	4	is	be	AUX
fsr-3373	149	5	reset	reset	ADJ
fsr-3373	149	6	each	each	DET
fsr-3373	149	7	year	year	NOUN
fsr-3373	149	8	,	,	PUNCT
fsr-3373	149	9	this	this	PRON
fsr-3373	149	10	covers	cover	VERB
fsr-3373	149	11	thousands	thousand	NOUN
fsr-3373	149	12	of	of	ADP
fsr-3373	149	13	historically	historically	ADV
fsr-3373	149	14	relevant	relevant	ADJ
fsr-3373	149	15	252	252	NUM
fsr-3373	149	16	-	-	PUNCT
fsr-3373	149	17	day	day	NOUN
fsr-3373	149	18	periods	period	NOUN
fsr-3373	149	19	.	.	PUNCT
fsr-3373	150	1	the	the	DET
fsr-3373	150	2	drawback	drawback	NOUN
fsr-3373	150	3	of	of	ADP
fsr-3373	150	4	using	use	VERB
fsr-3373	150	5	shorter	short	ADJ
fsr-3373	150	6	blocks	block	NOUN
fsr-3373	150	7	is	be	AUX
fsr-3373	150	8	that	that	SCONJ
fsr-3373	150	9	the	the	DET
fsr-3373	150	10	interest	interest	NOUN
fsr-3373	150	11	rates	rate	NOUN
fsr-3373	150	12	experienced	experience	VERB
fsr-3373	150	13	both	both	PRON
fsr-3373	150	14	in	in	ADP
fsr-3373	150	15	terms	term	NOUN
fsr-3373	150	16	of	of	ADP
fsr-3373	150	17	financing	financing	NOUN
fsr-3373	150	18	and	and	CCONJ
fsr-3373	150	19	the	the	DET
fsr-3373	150	20	risk	risk	NOUN
fsr-3373	150	21	-	-	PUNCT
fsr-3373	150	22	free	free	ADJ
fsr-3373	150	23	asset	asset	NOUN
fsr-3373	150	24	used	use	VERB
fsr-3373	150	25	for	for	ADP
fsr-3373	150	26	investing	invest	VERB
fsr-3373	150	27	excess	excess	ADJ
fsr-3373	150	28	funds	fund	NOUN
fsr-3373	150	29	tends	tend	VERB
fsr-3373	150	30	to	to	PART
fsr-3373	150	31	average	average	VERB
fsr-3373	150	32	out	out	ADP
fsr-3373	150	33	,	,	PUNCT
fsr-3373	150	34	and	and	CCONJ
fsr-3373	150	35	does	do	AUX
fsr-3373	150	36	not	not	PART
fsr-3373	150	37	show	show	VERB
fsr-3373	150	38	what	what	PRON
fsr-3373	150	39	may	may	AUX
fsr-3373	150	40	occur	occur	VERB
fsr-3373	150	41	in	in	ADP
fsr-3373	150	42	sustained	sustained	ADJ
fsr-3373	150	43	extreme	extreme	ADJ
fsr-3373	150	44	interest	interest	NOUN
fsr-3373	150	45	rate	rate	NOUN
fsr-3373	150	46	environments	environment	NOUN
fsr-3373	150	47	.	.	PUNCT
fsr-3373	151	1	thus	thus	ADV
fsr-3373	151	2	,	,	PUNCT
fsr-3373	151	3	sampling	sample	VERB
fsr-3373	151	4	shorter	short	ADJ
fsr-3373	151	5	blocks	block	NOUN
fsr-3373	151	6	would	would	AUX
fsr-3373	151	7	bias	bias	VERB
fsr-3373	151	8	the	the	DET
fsr-3373	151	9	results	result	NOUN
fsr-3373	151	10	.	.	PUNCT
fsr-3373	152	1	results	result	NOUN
fsr-3373	152	2	are	be	AUX
fsr-3373	152	3	analyzed	analyze	VERB
fsr-3373	152	4	using	use	VERB
fsr-3373	152	5	a	a	DET
fsr-3373	152	6	variety	variety	NOUN
fsr-3373	152	7	of	of	ADP
fsr-3373	152	8	measures	measure	NOUN
fsr-3373	152	9	.	.	PUNCT
fsr-3373	153	1	these	these	PRON
fsr-3373	153	2	include	include	VERB
fsr-3373	153	3	the	the	DET
fsr-3373	153	4	average	average	ADJ
fsr-3373	153	5	return	return	NOUN
fsr-3373	153	6	,	,	PUNCT
fsr-3373	153	7	minimum	minimum	ADJ
fsr-3373	153	8	return	return	NOUN
fsr-3373	153	9	,	,	PUNCT
fsr-3373	153	10	maximum	maximum	ADJ
fsr-3373	153	11	return	return	NOUN
fsr-3373	153	12	,	,	PUNCT
fsr-3373	153	13	standard	standard	ADJ
fsr-3373	153	14	deviation	deviation	NOUN
fsr-3373	153	15	,	,	PUNCT
fsr-3373	153	16	sharpe	sharpe	NOUN
fsr-3373	153	17	ratio	ratio	NOUN
fsr-3373	153	18	,	,	PUNCT
fsr-3373	153	19	sortino	sortino	ADJ
fsr-3373	153	20	ratio	ratio	NOUN
fsr-3373	153	21	,	,	PUNCT
fsr-3373	153	22	var	var	NOUN
fsr-3373	153	23	,	,	PUNCT
fsr-3373	153	24	es	es	NOUN
fsr-3373	153	25	,	,	PUNCT
fsr-3373	153	26	omega	omega	NOUN
fsr-3373	153	27	ratio	ratio	NOUN
fsr-3373	153	28	,	,	PUNCT
fsr-3373	153	29	and	and	CCONJ
fsr-3373	153	30	cumulative	cumulative	ADJ
fsr-3373	153	31	prospect	prospect	NOUN
fsr-3373	153	32	values	value	NOUN
fsr-3373	153	33	.	.	PUNCT
fsr-3373	154	1	the	the	DET
fsr-3373	154	2	risk	risk	NOUN
fsr-3373	154	3	metrics	metric	NOUN
fsr-3373	154	4	are	be	AUX
fsr-3373	154	5	explained	explain	VERB
fsr-3373	154	6	in	in	ADP
fsr-3373	154	7	appendix	appendix	NOUN
fsr-3373	154	8	1	1	NUM
fsr-3373	154	9	.	.	NOUN
fsr-3373	154	10	4	4	NUM
fsr-3373	154	11	.	.	NOUN
fsr-3373	154	12	results	result	VERB
fsr-3373	154	13	4.1	4.1	NUM
fsr-3373	154	14	.	.	PUNCT
fsr-3373	155	1	historical	historical	ADJ
fsr-3373	155	2	results	result	NOUN
fsr-3373	155	3	table	table	NOUN
fsr-3373	155	4	3	3	NUM
fsr-3373	155	5	shows	show	VERB
fsr-3373	155	6	the	the	DET
fsr-3373	155	7	annual	annual	ADJ
fsr-3373	155	8	performance	performance	NOUN
fsr-3373	155	9	and	and	CCONJ
fsr-3373	155	10	risk	risk	NOUN
fsr-3373	155	11	measures	measure	NOUN
fsr-3373	155	12	from	from	ADP
fsr-3373	155	13	1947	1947	NUM
fsr-3373	155	14	to	to	ADP
fsr-3373	155	15	2016	2016	NUM
fsr-3373	155	16	for	for	ADP
fsr-3373	155	17	the	the	DET
fsr-3373	155	18	cppi	cppi	NOUN
fsr-3373	155	19	s&p	s&p	PROPN
fsr-3373	155	20	,	,	PUNCT
fsr-3373	155	21	cppi	cppi	NOUN
fsr-3373	155	22	2x	2x	NUM
fsr-3373	155	23	,	,	PUNCT
fsr-3373	155	24	cppi	cppi	NOUN
fsr-3373	155	25	3x	3x	PROPN
fsr-3373	155	26	and	and	CCONJ
fsr-3373	155	27	cppi	cppi	PROPN
fsr-3373	155	28	4x	4x	NUM
fsr-3373	155	29	.	.	PUNCT
fsr-3373	156	1	the	the	DET
fsr-3373	156	2	multipliers	multiplier	NOUN
fsr-3373	156	3	of	of	ADP
fsr-3373	156	4	5	5	NUM
fsr-3373	156	5	,	,	PUNCT
fsr-3373	156	6	2.5	2.5	NUM
fsr-3373	156	7	,	,	PUNCT
fsr-3373	156	8	1.67	1.67	NUM
fsr-3373	156	9	,	,	PUNCT
fsr-3373	156	10	and	and	CCONJ
fsr-3373	156	11	1.25	1.25	NUM
fsr-3373	156	12	,	,	PUNCT
fsr-3373	156	13	respectively	respectively	ADV
fsr-3373	156	14	,	,	PUNCT
fsr-3373	156	15	determine	determine	VERB
fsr-3373	156	16	the	the	DET
fsr-3373	156	17	exposure	exposure	NOUN
fsr-3373	156	18	to	to	ADP
fsr-3373	156	19	the	the	DET
fsr-3373	156	20	risky	risky	ADJ
fsr-3373	156	21	asset	asset	NOUN
fsr-3373	156	22	that	that	PRON
fsr-3373	156	23	is	be	AUX
fsr-3373	156	24	rebalanced	rebalance	VERB
fsr-3373	156	25	with	with	ADP
fsr-3373	156	26	a	a	DET
fsr-3373	156	27	2.5	2.5	NUM
fsr-3373	156	28	%	%	NOUN
fsr-3373	156	29	or	or	CCONJ
fsr-3373	156	30	greater	great	ADJ
fsr-3373	156	31	move	move	NOUN
fsr-3373	156	32	in	in	ADP
fsr-3373	156	33	the	the	DET
fsr-3373	156	34	s&p	s&p	PROPN
fsr-3373	156	35	500	500	NUM
fsr-3373	156	36	relative	relative	ADJ
fsr-3373	156	37	to	to	ADP
fsr-3373	156	38	the	the	DET
fsr-3373	156	39	last	last	ADJ
fsr-3373	156	40	rebalance	rebalance	NOUN
fsr-3373	156	41	.	.	PUNCT
fsr-3373	157	1	the	the	DET
fsr-3373	157	2	remaining	remain	VERB
fsr-3373	157	3	allocation	allocation	NOUN
fsr-3373	157	4	is	be	AUX
fsr-3373	157	5	invested	invest	VERB
fsr-3373	157	6	in	in	ADP
fsr-3373	157	7	one	one	NUM
fsr-3373	157	8	-	-	PUNCT
fsr-3373	157	9	year	year	NOUN
fsr-3373	157	10	t	t	PROPN
fsr-3373	157	11	-	-	PUNCT
fsr-3373	157	12	bills	bill	NOUN
fsr-3373	157	13	.	.	PUNCT
fsr-3373	158	1	the	the	DET
fsr-3373	158	2	floor	floor	NOUN
fsr-3373	158	3	is	be	AUX
fsr-3373	158	4	set	set	VERB
fsr-3373	158	5	to	to	ADP
fsr-3373	158	6	90	90	NUM
fsr-3373	158	7	%	%	NOUN
fsr-3373	158	8	of	of	ADP
fsr-3373	158	9	the	the	DET
fsr-3373	158	10	portfolio	portfolio	NOUN
fsr-3373	158	11	value	value	NOUN
fsr-3373	158	12	and	and	CCONJ
fsr-3373	158	13	is	be	AUX
fsr-3373	158	14	reset	reset	VERB
fsr-3373	158	15	annually	annually	ADV
fsr-3373	158	16	.	.	PUNCT
fsr-3373	159	1	return	return	NOUN
fsr-3373	159	2	data	datum	NOUN
fsr-3373	159	3	are	be	AUX
fsr-3373	159	4	provided	provide	VERB
fsr-3373	159	5	for	for	ADP
fsr-3373	159	6	the	the	DET
fsr-3373	159	7	respective	respective	ADJ
fsr-3373	159	8	risky	risky	ADJ
fsr-3373	159	9	assets	asset	NOUN
fsr-3373	159	10	with	with	ADP
fsr-3373	159	11	a	a	DET
fsr-3373	159	12	1.2	1.2	NUM
fsr-3373	159	13	%	%	NOUN
fsr-3373	159	14	annual	annual	ADJ
fsr-3373	159	15	expense	expense	NOUN
fsr-3373	159	16	ratio	ratio	NOUN
fsr-3373	159	17	and	and	CCONJ
fsr-3373	159	18	daily	daily	ADJ
fsr-3373	159	19	financing	financing	NOUN
fsr-3373	159	20	costs	cost	NOUN
fsr-3373	159	21	assumed	assume	VERB
fsr-3373	159	22	for	for	ADP
fsr-3373	159	23	the	the	DET
fsr-3373	159	24	letfs	letfs	PROPN
fsr-3373	159	25	based	base	VERB
fsr-3373	159	26	on	on	ADP
fsr-3373	159	27	eq	eq	PROPN
fsr-3373	159	28	.	.	PUNCT
fsr-3373	160	1	(	(	PUNCT
fsr-3373	160	2	2	2	NUM
fsr-3373	160	3	)	)	PUNCT
fsr-3373	160	4	.	.	PUNCT
fsr-3373	161	1	393j	393j	NOUN
fsr-3373	161	2	.	.	PUNCT
fsr-3373	162	1	george	george	PROPN
fsr-3373	162	2	,	,	PUNCT
fsr-3373	162	3	w.j	w.j	PROPN
fsr-3373	162	4	.	.	PROPN
fsr-3373	162	5	trainor	trainor	PROPN
fsr-3373	162	6	/	/	SYM
fsr-3373	162	7	financial	financial	ADJ
fsr-3373	162	8	services	service	NOUN
fsr-3373	162	9	review	review	VERB
fsr-3373	162	10	26	26	NUM
fsr-3373	162	11	(	(	PUNCT
fsr-3373	162	12	2017	2017	NUM
fsr-3373	162	13	)	)	PUNCT
fsr-3373	163	1	387–403	387–403	NUM
fsr-3373	163	2	the	the	DET
fsr-3373	163	3	first	first	ADJ
fsr-3373	163	4	item	item	NOUN
fsr-3373	163	5	to	to	PART
fsr-3373	163	6	note	note	VERB
fsr-3373	163	7	is	be	AUX
fsr-3373	163	8	that	that	SCONJ
fsr-3373	163	9	all	all	DET
fsr-3373	163	10	the	the	DET
fsr-3373	163	11	letfs	letfs	NOUN
fsr-3373	163	12	suffer	suffer	VERB
fsr-3373	163	13	decay	decay	NOUN
fsr-3373	163	14	and	and	CCONJ
fsr-3373	163	15	their	their	PRON
fsr-3373	163	16	returns	return	NOUN
fsr-3373	163	17	are	be	AUX
fsr-3373	163	18	positively	positively	ADV
fsr-3373	163	19	skewed	skewed	ADJ
fsr-3373	163	20	.	.	PUNCT
fsr-3373	164	1	for	for	ADP
fsr-3373	164	2	example	example	NOUN
fsr-3373	164	3	,	,	PUNCT
fsr-3373	164	4	the	the	DET
fsr-3373	164	5	s&p	s&p	PROPN
fsr-3373	164	6	3x	3x	PROPN
fsr-3373	164	7	average	average	ADJ
fsr-3373	164	8	annual	annual	ADJ
fsr-3373	164	9	return	return	NOUN
fsr-3373	164	10	of	of	ADP
fsr-3373	164	11	33.97	33.97	NUM
fsr-3373	164	12	%	%	NOUN
fsr-3373	164	13	is	be	AUX
fsr-3373	164	14	only	only	ADV
fsr-3373	164	15	2.71	2.71	NUM
fsr-3373	164	16	times	time	NOUN
fsr-3373	164	17	the	the	DET
fsr-3373	164	18	average	average	ADJ
fsr-3373	164	19	annual	annual	ADJ
fsr-3373	164	20	return	return	NOUN
fsr-3373	164	21	of	of	ADP
fsr-3373	164	22	the	the	DET
fsr-3373	164	23	s&p	s&p	PROPN
fsr-3373	164	24	.	.	PUNCT
fsr-3373	165	1	the	the	DET
fsr-3373	165	2	riskiness	riskiness	NOUN
fsr-3373	165	3	of	of	ADP
fsr-3373	165	4	the	the	DET
fsr-3373	165	5	letfs	letfs	NOUN
fsr-3373	165	6	is	be	AUX
fsr-3373	165	7	also	also	ADV
fsr-3373	165	8	apparent	apparent	ADJ
fsr-3373	165	9	with	with	ADP
fsr-3373	165	10	extreme	extreme	ADJ
fsr-3373	165	11	minimums	minimum	NOUN
fsr-3373	165	12	,	,	PUNCT
fsr-3373	165	13	vars	var	NOUN
fsr-3373	165	14	,	,	PUNCT
fsr-3373	165	15	and	and	CCONJ
fsr-3373	165	16	es	es	ADP
fsr-3373	165	17	values	value	NOUN
fsr-3373	165	18	.	.	PUNCT
fsr-3373	166	1	based	base	VERB
fsr-3373	166	2	on	on	ADP
fsr-3373	166	3	sharpe	sharpe	PROPN
fsr-3373	166	4	ratios	ratio	NOUN
fsr-3373	166	5	,	,	PUNCT
fsr-3373	166	6	there	there	PRON
fsr-3373	166	7	is	be	VERB
fsr-3373	166	8	not	not	PART
fsr-3373	166	9	a	a	DET
fsr-3373	166	10	huge	huge	ADJ
fsr-3373	166	11	difference	difference	NOUN
fsr-3373	166	12	between	between	ADP
fsr-3373	166	13	them	they	PRON
fsr-3373	166	14	although	although	SCONJ
fsr-3373	166	15	letf	letf	NOUN
fsr-3373	166	16	’s	’s	PART
fsr-3373	166	17	minimums	minimum	NOUN
fsr-3373	166	18	are	be	AUX
fsr-3373	166	19	daunting	daunt	VERB
fsr-3373	166	20	ranging	range	VERB
fsr-3373	166	21	from	from	ADP
fsr-3373	166	22	�	�	PROPN
fsr-3373	166	23	67	67	NUM
fsr-3373	166	24	%	%	NOUN
fsr-3373	166	25	to	to	PART
fsr-3373	166	26	�	�	PROPN
fsr-3373	166	27	95	95	NUM
fsr-3373	166	28	%	%	NOUN
fsr-3373	166	29	.	.	PUNCT
fsr-3373	167	1	however	however	ADV
fsr-3373	167	2	,	,	PUNCT
fsr-3373	167	3	there	there	PRON
fsr-3373	167	4	does	do	AUX
fsr-3373	167	5	appear	appear	VERB
fsr-3373	167	6	to	to	PART
fsr-3373	167	7	be	be	AUX
fsr-3373	167	8	benefits	benefit	NOUN
fsr-3373	167	9	for	for	ADP
fsr-3373	167	10	letfs	letfs	PROPN
fsr-3373	167	11	within	within	ADP
fsr-3373	167	12	a	a	DET
fsr-3373	167	13	cppi	cppi	NOUN
fsr-3373	167	14	strategy	strategy	NOUN
fsr-3373	167	15	as	as	ADP
fsr-3373	167	16	all	all	DET
fsr-3373	167	17	the	the	DET
fsr-3373	167	18	letf	letf	ADJ
fsr-3373	167	19	cppis	cppis	ADJ
fsr-3373	167	20	display	display	NOUN
fsr-3373	167	21	better	well	ADJ
fsr-3373	167	22	average	average	ADJ
fsr-3373	167	23	annual	annual	ADJ
fsr-3373	167	24	returns	return	NOUN
fsr-3373	167	25	over	over	ADP
fsr-3373	167	26	the	the	DET
fsr-3373	167	27	standard	standard	ADJ
fsr-3373	167	28	s&p	s&p	PROPN
fsr-3373	167	29	cppi	cppi	NOUN
fsr-3373	167	30	ranging	range	VERB
fsr-3373	167	31	from	from	ADP
fsr-3373	167	32	0.47	0.47	NUM
fsr-3373	167	33	%	%	NOUN
fsr-3373	167	34	for	for	ADP
fsr-3373	167	35	the	the	DET
fsr-3373	167	36	cppi	cppi	NOUN
fsr-3373	167	37	2x	2x	NUM
fsr-3373	167	38	to	to	PART
fsr-3373	167	39	1.35	1.35	NUM
fsr-3373	167	40	%	%	NOUN
fsr-3373	167	41	for	for	ADP
fsr-3373	167	42	the	the	DET
fsr-3373	167	43	cppi	cppi	NOUN
fsr-3373	167	44	4x	4x	NUM
fsr-3373	167	45	.	.	PUNCT
fsr-3373	168	1	there	there	PRON
fsr-3373	168	2	is	be	VERB
fsr-3373	168	3	some	some	DET
fsr-3373	168	4	increase	increase	NOUN
fsr-3373	168	5	in	in	ADP
fsr-3373	168	6	the	the	DET
fsr-3373	168	7	standard	standard	ADJ
fsr-3373	168	8	deviation	deviation	NOUN
fsr-3373	168	9	for	for	ADP
fsr-3373	168	10	these	these	DET
fsr-3373	168	11	higher	high	ADJ
fsr-3373	168	12	returns	return	NOUN
fsr-3373	168	13	,	,	PUNCT
fsr-3373	168	14	but	but	CCONJ
fsr-3373	168	15	the	the	DET
fsr-3373	168	16	minimums	minimum	NOUN
fsr-3373	168	17	,	,	PUNCT
fsr-3373	168	18	vars	var	NOUN
fsr-3373	168	19	,	,	PUNCT
fsr-3373	168	20	and	and	CCONJ
fsr-3373	168	21	es	es	NOUN
fsr-3373	168	22	are	be	AUX
fsr-3373	168	23	lower	low	ADJ
fsr-3373	168	24	as	as	SCONJ
fsr-3373	168	25	reflected	reflect	VERB
fsr-3373	168	26	in	in	ADP
fsr-3373	168	27	their	their	PRON
fsr-3373	168	28	higher	high	ADJ
fsr-3373	168	29	sortino	sortino	NOUN
fsr-3373	168	30	,	,	PUNCT
fsr-3373	168	31	omega	omega	NOUN
fsr-3373	168	32	,	,	PUNCT
fsr-3373	168	33	and	and	CCONJ
fsr-3373	168	34	cpv	cpv	PROPN
fsr-3373	168	35	values	value	NOUN
fsr-3373	168	36	.	.	PUNCT
fsr-3373	169	1	from	from	ADP
fsr-3373	169	2	a	a	DET
fsr-3373	169	3	risk	risk	NOUN
fsr-3373	169	4	-	-	PUNCT
fsr-3373	169	5	return	return	NOUN
fsr-3373	169	6	perspective	perspective	NOUN
fsr-3373	169	7	,	,	PUNCT
fsr-3373	169	8	all	all	DET
fsr-3373	169	9	four	four	NUM
fsr-3373	169	10	cppi	cppi	NOUN
fsr-3373	169	11	strategies	strategy	NOUN
fsr-3373	169	12	dominate	dominate	VERB
fsr-3373	169	13	the	the	DET
fsr-3373	169	14	s&p	s&p	PROPN
fsr-3373	169	15	500	500	NUM
fsr-3373	169	16	based	base	VERB
fsr-3373	169	17	on	on	ADP
fsr-3373	169	18	risk	risk	NOUN
fsr-3373	169	19	metrics	metric	NOUN
fsr-3373	169	20	,	,	PUNCT
fsr-3373	169	21	but	but	CCONJ
fsr-3373	169	22	they	they	PRON
fsr-3373	169	23	do	do	AUX
fsr-3373	169	24	give	give	VERB
fsr-3373	169	25	up	up	ADP
fsr-3373	169	26	2.46	2.46	NUM
fsr-3373	169	27	%	%	NOUN
fsr-3373	169	28	to	to	ADP
fsr-3373	169	29	1.37	1.37	NUM
fsr-3373	169	30	%	%	NOUN
fsr-3373	169	31	annually	annually	ADV
fsr-3373	169	32	moving	move	VERB
fsr-3373	169	33	from	from	ADP
fsr-3373	169	34	the	the	DET
fsr-3373	169	35	cppi	cppi	NOUN
fsr-3373	169	36	s&p	s&p	PROPN
fsr-3373	169	37	to	to	ADP
fsr-3373	169	38	the	the	DET
fsr-3373	169	39	cppi	cppi	NOUN
fsr-3373	169	40	4x	4x	NUM
fsr-3373	169	41	.	.	PUNCT
fsr-3373	170	1	because	because	SCONJ
fsr-3373	170	2	the	the	DET
fsr-3373	170	3	letfs	letfs	NOUN
fsr-3373	170	4	are	be	AUX
fsr-3373	170	5	rebalanced	rebalance	VERB
fsr-3373	170	6	after	after	ADP
fsr-3373	170	7	every	every	DET
fsr-3373	170	8	2.5	2.5	NUM
fsr-3373	170	9	%	%	NOUN
fsr-3373	170	10	move	move	NOUN
fsr-3373	170	11	,	,	PUNCT
fsr-3373	170	12	the	the	DET
fsr-3373	170	13	�	�	NOUN
fsr-3373	170	14	95	95	NUM
fsr-3373	170	15	%	%	NOUN
fsr-3373	170	16	possibility	possibility	NOUN
fsr-3373	170	17	of	of	ADP
fsr-3373	170	18	buying	buy	VERB
fsr-3373	170	19	and	and	CCONJ
fsr-3373	170	20	holding	hold	VERB
fsr-3373	170	21	a	a	DET
fsr-3373	170	22	4x	4x	NUM
fsr-3373	170	23	is	be	AUX
fsr-3373	170	24	eliminated	eliminate	VERB
fsr-3373	170	25	along	along	ADP
fsr-3373	170	26	with	with	ADP
fsr-3373	170	27	the	the	DET
fsr-3373	170	28	fact	fact	NOUN
fsr-3373	170	29	the	the	DET
fsr-3373	170	30	4x	4x	NOUN
fsr-3373	170	31	can	can	AUX
fsr-3373	170	32	only	only	ADV
fsr-3373	170	33	be	be	AUX
fsr-3373	170	34	a	a	DET
fsr-3373	170	35	maximum	maximum	NOUN
fsr-3373	170	36	of	of	ADP
fsr-3373	170	37	25	25	NUM
fsr-3373	170	38	%	%	NOUN
fsr-3373	170	39	in	in	ADP
fsr-3373	170	40	the	the	DET
fsr-3373	170	41	portfolio	portfolio	NOUN
fsr-3373	170	42	.	.	PUNCT
fsr-3373	171	1	downside	downside	ADJ
fsr-3373	171	2	protection	protection	NOUN
fsr-3373	171	3	for	for	ADP
fsr-3373	171	4	the	the	DET
fsr-3373	171	5	leveraged	leverage	VERB
fsr-3373	171	6	cppis	cppis	NOUN
fsr-3373	171	7	is	be	AUX
fsr-3373	171	8	confirmed	confirm	VERB
fsr-3373	171	9	as	as	SCONJ
fsr-3373	171	10	the	the	DET
fsr-3373	171	11	90	90	NUM
fsr-3373	171	12	%	%	NOUN
fsr-3373	171	13	floor	floor	NOUN
fsr-3373	171	14	is	be	AUX
fsr-3373	171	15	never	never	ADV
fsr-3373	171	16	breached	breach	VERB
fsr-3373	171	17	for	for	ADP
fsr-3373	171	18	any	any	PRON
fsr-3373	171	19	of	of	ADP
fsr-3373	171	20	the	the	DET
fsr-3373	171	21	cppi	cppi	NOUN
fsr-3373	171	22	strategies	strategy	NOUN
fsr-3373	171	23	.	.	PUNCT
fsr-3373	172	1	for	for	ADP
fsr-3373	172	2	prospect	prospect	NOUN
fsr-3373	172	3	theory	theory	NOUN
fsr-3373	172	4	type	type	NOUN
fsr-3373	172	5	investors	investor	NOUN
fsr-3373	172	6	,	,	PUNCT
fsr-3373	172	7	the	the	DET
fsr-3373	172	8	cpvs	cpvs	NOUN
fsr-3373	172	9	of	of	ADP
fsr-3373	172	10	the	the	DET
fsr-3373	172	11	cppis	cppis	ADJ
fsr-3373	172	12	do	do	AUX
fsr-3373	172	13	exceed	exceed	VERB
fsr-3373	172	14	the	the	DET
fsr-3373	172	15	s&p	s&p	PROPN
fsr-3373	172	16	500	500	NUM
fsr-3373	172	17	with	with	ADP
fsr-3373	172	18	increasing	increase	VERB
fsr-3373	172	19	levels	level	NOUN
fsr-3373	172	20	of	of	ADP
fsr-3373	172	21	cpv	cpv	PROPN
fsr-3373	172	22	from	from	ADP
fsr-3373	172	23	cppi	cppi	PROPN
fsr-3373	172	24	s&p	s&p	PROPN
fsr-3373	172	25	to	to	ADP
fsr-3373	172	26	the	the	DET
fsr-3373	172	27	cppi	cppi	NOUN
fsr-3373	172	28	4x	4x	NUM
fsr-3373	172	29	.	.	PUNCT
fsr-3373	173	1	graphically	graphically	ADV
fsr-3373	173	2	,	,	PUNCT
fsr-3373	173	3	fig	fig	NOUN
fsr-3373	173	4	.	.	PUNCT
fsr-3373	174	1	1	1	NUM
fsr-3373	174	2	demonstrates	demonstrate	VERB
fsr-3373	174	3	the	the	DET
fsr-3373	174	4	value	value	NOUN
fsr-3373	174	5	of	of	ADP
fsr-3373	174	6	cppi	cppi	NOUN
fsr-3373	174	7	strategies	strategy	NOUN
fsr-3373	174	8	relative	relative	ADJ
fsr-3373	174	9	to	to	ADP
fsr-3373	174	10	a	a	DET
fsr-3373	174	11	100	100	NUM
fsr-3373	174	12	%	%	NOUN
fsr-3373	174	13	investment	investment	NOUN
fsr-3373	174	14	in	in	ADP
fsr-3373	174	15	the	the	DET
fsr-3373	174	16	s&p	s&p	PROPN
fsr-3373	174	17	,	,	PUNCT
fsr-3373	174	18	and	and	CCONJ
fsr-3373	174	19	the	the	DET
fsr-3373	174	20	value	value	NOUN
fsr-3373	174	21	of	of	ADP
fsr-3373	174	22	using	use	VERB
fsr-3373	174	23	letfs	letfs	NOUN
fsr-3373	174	24	in	in	ADP
fsr-3373	174	25	a	a	DET
fsr-3373	174	26	cppi	cppi	NOUN
fsr-3373	174	27	strategy	strategy	NOUN
fsr-3373	174	28	as	as	SCONJ
fsr-3373	174	29	opposed	oppose	VERB
fsr-3373	174	30	to	to	ADP
fsr-3373	174	31	a	a	DET
fsr-3373	174	32	standard	standard	ADJ
fsr-3373	174	33	cppi	cppi	NOUN
fsr-3373	174	34	portfolio	portfolio	NOUN
fsr-3373	174	35	.	.	PUNCT
fsr-3373	175	1	all	all	PRON
fsr-3373	175	2	of	of	ADP
fsr-3373	175	3	the	the	DET
fsr-3373	175	4	cppi	cppi	NOUN
fsr-3373	175	5	strategies	strategy	NOUN
fsr-3373	175	6	avoided	avoid	VERB
fsr-3373	175	7	the	the	DET
fsr-3373	175	8	major	major	ADJ
fsr-3373	175	9	drawdowns	drawdown	NOUN
fsr-3373	175	10	of	of	ADP
fsr-3373	175	11	wealth	wealth	NOUN
fsr-3373	175	12	in	in	ADP
fsr-3373	175	13	the	the	DET
fsr-3373	175	14	early	early	ADJ
fsr-3373	175	15	1970s	1970	NOUN
fsr-3373	175	16	,	,	PUNCT
fsr-3373	175	17	as	as	ADV
fsr-3373	175	18	well	well	ADV
fsr-3373	175	19	as	as	ADP
fsr-3373	175	20	in	in	ADP
fsr-3373	175	21	2001	2001	NUM
fsr-3373	175	22	and	and	CCONJ
fsr-3373	175	23	2008	2008	NUM
fsr-3373	175	24	.	.	PUNCT
fsr-3373	176	1	there	there	PRON
fsr-3373	176	2	is	be	VERB
fsr-3373	176	3	a	a	DET
fsr-3373	176	4	cost	cost	NOUN
fsr-3373	176	5	for	for	ADP
fsr-3373	176	6	cppi	cppi	NOUN
fsr-3373	176	7	strategies	strategy	NOUN
fsr-3373	176	8	as	as	SCONJ
fsr-3373	176	9	their	their	PRON
fsr-3373	176	10	cumulative	cumulative	ADJ
fsr-3373	176	11	values	value	NOUN
fsr-3373	176	12	all	all	PRON
fsr-3373	176	13	fall	fall	VERB
fsr-3373	176	14	short	short	ADV
fsr-3373	176	15	of	of	ADP
fsr-3373	176	16	the	the	DET
fsr-3373	176	17	s&p	s&p	PROPN
fsr-3373	176	18	500	500	NUM
fsr-3373	176	19	.	.	PUNCT
fsr-3373	177	1	it	it	PRON
fsr-3373	177	2	is	be	AUX
fsr-3373	177	3	also	also	ADV
fsr-3373	177	4	the	the	DET
fsr-3373	177	5	case	case	NOUN
fsr-3373	177	6	all	all	DET
fsr-3373	177	7	the	the	DET
fsr-3373	177	8	letf	letf	ADJ
fsr-3373	177	9	cppis	cppis	ADJ
fsr-3373	177	10	outperform	outperform	VERB
fsr-3373	177	11	the	the	DET
fsr-3373	177	12	standard	standard	ADJ
fsr-3373	177	13	s&p	s&p	PROPN
fsr-3373	177	14	cppi	cppi	NOUN
fsr-3373	177	15	.	.	PUNCT
fsr-3373	178	1	results	result	NOUN
fsr-3373	178	2	thus	thus	ADV
fsr-3373	178	3	far	far	ADV
fsr-3373	178	4	suggest	suggest	VERB
fsr-3373	178	5	letf	letf	ADJ
fsr-3373	178	6	cppi	cppi	NOUN
fsr-3373	178	7	strategies	strategy	NOUN
fsr-3373	178	8	appear	appear	VERB
fsr-3373	178	9	to	to	PART
fsr-3373	178	10	outperform	outperform	VERB
fsr-3373	178	11	a	a	DET
fsr-3373	178	12	standard	standard	ADJ
fsr-3373	178	13	s&p	s&p	PROPN
fsr-3373	178	14	cppi	cppi	NOUN
fsr-3373	178	15	strategy	strategy	NOUN
fsr-3373	178	16	.	.	PUNCT
fsr-3373	179	1	however	however	ADV
fsr-3373	179	2	,	,	PUNCT
fsr-3373	179	3	part	part	NOUN
fsr-3373	179	4	of	of	ADP
fsr-3373	179	5	the	the	DET
fsr-3373	179	6	outperformance	outperformance	NOUN
fsr-3373	179	7	of	of	ADP
fsr-3373	179	8	letf	letf	ADJ
fsr-3373	179	9	cppi	cppi	NOUN
fsr-3373	179	10	strategies	strategy	NOUN
fsr-3373	179	11	has	have	AUX
fsr-3373	179	12	been	be	AUX
fsr-3373	179	13	the	the	DET
fsr-3373	179	14	greater	great	ADJ
fsr-3373	179	15	percentage	percentage	NOUN
fsr-3373	179	16	of	of	ADP
fsr-3373	179	17	wealth	wealth	NOUN
fsr-3373	179	18	that	that	PRON
fsr-3373	179	19	earns	earn	VERB
fsr-3373	179	20	the	the	DET
fsr-3373	179	21	risk	risk	NOUN
fsr-3373	179	22	-	-	PUNCT
fsr-3373	179	23	free	free	ADJ
fsr-3373	179	24	rate	rate	NOUN
fsr-3373	179	25	.	.	PUNCT
fsr-3373	180	1	in	in	ADP
fsr-3373	180	2	effect	effect	NOUN
fsr-3373	180	3	,	,	PUNCT
fsr-3373	180	4	the	the	DET
fsr-3373	180	5	letfs	letfs	PROPN
fsr-3373	180	6	are	be	AUX
fsr-3373	180	7	borrowing	borrow	VERB
fsr-3373	180	8	to	to	PART
fsr-3373	180	9	attain	attain	VERB
fsr-3373	180	10	table	table	NOUN
fsr-3373	180	11	3	3	NUM
fsr-3373	180	12	annual	annual	ADJ
fsr-3373	180	13	returns	return	NOUN
fsr-3373	180	14	from	from	ADP
fsr-3373	180	15	1947	1947	NUM
fsr-3373	180	16	to	to	ADP
fsr-3373	180	17	2016	2016	NUM
fsr-3373	180	18	for	for	ADP
fsr-3373	180	19	the	the	DET
fsr-3373	180	20	underlying	underlie	VERB
fsr-3373	180	21	indexes	index	NOUN
fsr-3373	180	22	and	and	CCONJ
fsr-3373	180	23	cppi	cppi	NOUN
fsr-3373	180	24	portfolios	portfolio	NOUN
fsr-3373	180	25	s&p	s&p	PROPN
fsr-3373	180	26	s&p	s&p	PROPN
fsr-3373	180	27	2x	2x	NUM
fsr-3373	180	28	s&p	s&p	PROPN
fsr-3373	180	29	3x	3x	PROPN
fsr-3373	181	1	s&p	s&p	PROPN
fsr-3373	181	2	4x	4x	NUM
fsr-3373	181	3	cppi	cppi	PROPN
fsr-3373	181	4	s&p	s&p	PROPN
fsr-3373	181	5	cppi	cppi	NOUN
fsr-3373	181	6	2x	2x	NUM
fsr-3373	181	7	cppi	cppi	NOUN
fsr-3373	181	8	3x	3x	NUM
fsr-3373	181	9	cppi	cppi	PROPN
fsr-3373	181	10	4x	4x	NOUN
fsr-3373	181	11	average	average	ADJ
fsr-3373	181	12	12.53	12.53	NUM
fsr-3373	181	13	%	%	NOUN
fsr-3373	181	14	21.91	21.91	NUM
fsr-3373	181	15	%	%	NOUN
fsr-3373	181	16	33.97%b	33.97%b	NUM
fsr-3373	181	17	47.55%b	47.55%b	PROPN
fsr-3373	181	18	10.13	10.13	NUM
fsr-3373	181	19	%	%	NOUN
fsr-3373	181	20	10.60	10.60	NUM
fsr-3373	181	21	%	%	NOUN
fsr-3373	181	22	11.15	11.15	NUM
fsr-3373	181	23	%	%	NOUN
fsr-3373	181	24	11.48	11.48	NUM
fsr-3373	181	25	%	%	NOUN
fsr-3373	181	26	standard	standard	ADJ
fsr-3373	181	27	deviation	deviation	NOUN
fsr-3373	181	28	17.02	17.02	NUM
fsr-3373	181	29	%	%	NOUN
fsr-3373	181	30	36.11	36.11	NUM
fsr-3373	181	31	%	%	NOUN
fsr-3373	181	32	58.89	58.89	NUM
fsr-3373	181	33	%	%	NOUN
fsr-3373	181	34	87.00	87.00	NUM
fsr-3373	181	35	%	%	NOUN
fsr-3373	181	36	11.79	11.79	NUM
fsr-3373	181	37	%	%	NOUN
fsr-3373	181	38	12.23	12.23	NUM
fsr-3373	181	39	%	%	NOUN
fsr-3373	181	40	12.58	12.58	NUM
fsr-3373	181	41	%	%	NOUN
fsr-3373	181	42	12.78	12.78	NUM
fsr-3373	181	43	%	%	NOUN
fsr-3373	181	44	median	median	NOUN
fsr-3373	181	45	13.81	13.81	NUM
fsr-3373	181	46	%	%	NOUN
fsr-3373	181	47	24.51	24.51	NUM
fsr-3373	181	48	%	%	NOUN
fsr-3373	181	49	33.07	33.07	NUM
fsr-3373	181	50	%	%	NOUN
fsr-3373	181	51	42.43	42.43	NUM
fsr-3373	181	52	%	%	NOUN
fsr-3373	181	53	8.18	8.18	NUM
fsr-3373	181	54	%	%	NOUN
fsr-3373	181	55	8.38	8.38	NUM
fsr-3373	181	56	%	%	NOUN
fsr-3373	181	57	8.87	8.87	NUM
fsr-3373	181	58	%	%	NOUN
fsr-3373	181	59	9.24	9.24	NUM
fsr-3373	181	60	%	%	NOUN
fsr-3373	181	61	minimum	minimum	PROPN
fsr-3373	181	62	�	�	PROPN
fsr-3373	181	63	36.65	36.65	NUM
fsr-3373	181	64	%	%	NOUN
fsr-3373	181	65	�	�	PROPN
fsr-3373	181	66	66.82	66.82	NUM
fsr-3373	181	67	%	%	NOUN
fsr-3373	181	68	�	�	NOUN
fsr-3373	181	69	85.24	85.24	NUM
fsr-3373	181	70	%	%	NOUN
fsr-3373	181	71	�	�	NOUN
fsr-3373	181	72	94.55	94.55	NUM
fsr-3373	181	73	%	%	NOUN
fsr-3373	181	74	�	�	PROPN
fsr-3373	181	75	8.65	8.65	NUM
fsr-3373	181	76	%	%	NOUN
fsr-3373	181	77	�	�	NOUN
fsr-3373	181	78	8.64	8.64	NUM
fsr-3373	181	79	%	%	NOUN
fsr-3373	181	80	�	�	NOUN
fsr-3373	181	81	8.63	8.63	NUM
fsr-3373	181	82	%	%	NOUN
fsr-3373	181	83	�	�	PROPN
fsr-3373	181	84	8.64	8.64	NUM
fsr-3373	181	85	%	%	NOUN
fsr-3373	181	86	maximum	maximum	ADJ
fsr-3373	181	87	52.85	52.85	NUM
fsr-3373	181	88	%	%	NOUN
fsr-3373	181	89	127.45	127.45	NUM
fsr-3373	181	90	%	%	NOUN
fsr-3373	181	91	239.66	239.66	NUM
fsr-3373	181	92	%	%	NOUN
fsr-3373	181	93	402.99	402.99	NUM
fsr-3373	181	94	%	%	NOUN
fsr-3373	181	95	46.32	46.32	NUM
fsr-3373	181	96	%	%	NOUN
fsr-3373	181	97	46.65	46.65	NUM
fsr-3373	181	98	%	%	NOUN
fsr-3373	181	99	47.54	47.54	NUM
fsr-3373	181	100	%	%	NOUN
fsr-3373	181	101	48.15	48.15	NUM
fsr-3373	181	102	%	%	NOUN
fsr-3373	181	103	sharpe	sharpe	PROPN
fsr-3373	181	104	ratio	ratio	NOUN
fsr-3373	181	105	0.49	0.49	NUM
fsr-3373	181	106	0.49	0.49	NUM
fsr-3373	181	107	0.51	0.51	NUM
fsr-3373	181	108	0.50	0.50	NUM
fsr-3373	181	109	0.51	0.51	NUM
fsr-3373	181	110	0.53	0.53	NUM
fsr-3373	181	111	0.56	0.56	NUM
fsr-3373	181	112	0.57	0.57	NUM
fsr-3373	181	113	sortino	sortino	NOUN
fsr-3373	181	114	0.80	0.80	NUM
fsr-3373	181	115	0.78	0.78	NUM
fsr-3373	181	116	0.87	0.87	NUM
fsr-3373	181	117	1.02	1.02	NUM
fsr-3373	181	118	2.21	2.21	NUM
fsr-3373	181	119	2.39	2.39	NUM
fsr-3373	181	120	2.62	2.62	NUM
fsr-3373	181	121	2.78	2.78	NUM
fsr-3373	181	122	var	var	NOUN
fsr-3373	181	123	5	5	NUM
fsr-3373	181	124	%	%	NOUN
fsr-3373	181	125	�	�	NOUN
fsr-3373	181	126	15.47	15.47	NUM
fsr-3373	181	127	%	%	NOUN
fsr-3373	181	128	�	�	NOUN
fsr-3373	181	129	34.35	34.35	NUM
fsr-3373	181	130	%	%	NOUN
fsr-3373	181	131	�	�	NOUN
fsr-3373	181	132	49.77	49.77	NUM
fsr-3373	181	133	%	%	NOUN
fsr-3373	181	134	�	�	NOUN
fsr-3373	181	135	62.56	62.56	NUM
fsr-3373	181	136	%	%	NOUN
fsr-3373	181	137	�	�	NOUN
fsr-3373	181	138	6.58%b	6.58%b	NUM
fsr-3373	181	139	�	�	NUM
fsr-3373	181	140	6.64%b	6.64%b	NUM
fsr-3373	181	141	�	�	PROPN
fsr-3373	181	142	6.34%b	6.34%b	NOUN
fsr-3373	181	143	�	�	NUM
fsr-3373	181	144	6.31%b	6.31%b	NUM
fsr-3373	181	145	es	es	SYM
fsr-3373	181	146	�	�	NOUN
fsr-3373	181	147	5.62	5.62	NUM
fsr-3373	181	148	%	%	NOUN
fsr-3373	181	149	�	�	NOUN
fsr-3373	181	150	12.87	12.87	NUM
fsr-3373	181	151	%	%	NOUN
fsr-3373	181	152	�	�	NOUN
fsr-3373	181	153	19.01	19.01	NUM
fsr-3373	181	154	%	%	NOUN
fsr-3373	181	155	�	�	NOUN
fsr-3373	181	156	24.55	24.55	NUM
fsr-3373	181	157	%	%	NOUN
fsr-3373	181	158	�	�	PROPN
fsr-3373	181	159	0.23%b	0.23%b	NUM
fsr-3373	181	160	�	�	PROPN
fsr-3373	181	161	0.40%b	0.40%b	NOUN
fsr-3373	181	162	0.33%b	0.33%b	PROPN
fsr-3373	181	163	0.38%b	0.38%b	VERB
fsr-3373	181	164	omega	omega	NOUN
fsr-3373	181	165	5.96	5.96	NUM
fsr-3373	181	166	4.67	4.67	NUM
fsr-3373	181	167	4.66	4.66	NUM
fsr-3373	181	168	4.79	4.79	NUM
fsr-3373	181	169	13.52	13.52	NUM
fsr-3373	181	170	14.56	14.56	NUM
fsr-3373	181	171	16.06	16.06	NUM
fsr-3373	181	172	17.11	17.11	NUM
fsr-3373	181	173	cpv	cpv	NOUN
fsr-3373	181	174	7.47	7.47	NUM
fsr-3373	181	175	5.76	5.76	NUM
fsr-3373	181	176	5.34	5.34	NUM
fsr-3373	181	177	5.33	5.33	NUM
fsr-3373	181	178	14.20	14.20	NUM
fsr-3373	181	179	14.56	14.56	NUM
fsr-3373	181	180	15.01	15.01	NUM
fsr-3373	181	181	15.24	15.24	NUM
fsr-3373	181	182	results	result	NOUN
fsr-3373	181	183	show	show	VERB
fsr-3373	181	184	average	average	ADJ
fsr-3373	181	185	annual	annual	ADJ
fsr-3373	181	186	returns	return	NOUN
fsr-3373	181	187	from	from	ADP
fsr-3373	181	188	january	january	PROPN
fsr-3373	181	189	1947	1947	NUM
fsr-3373	181	190	to	to	ADP
fsr-3373	181	191	december	december	PROPN
fsr-3373	181	192	2016	2016	NUM
fsr-3373	181	193	for	for	ADP
fsr-3373	181	194	the	the	DET
fsr-3373	181	195	s&p	s&p	PROPN
fsr-3373	181	196	500	500	NUM
fsr-3373	181	197	along	along	ADP
fsr-3373	181	198	with	with	ADP
fsr-3373	181	199	three	three	NUM
fsr-3373	181	200	leveraged	leveraged	ADJ
fsr-3373	181	201	exchange	exchange	NOUN
fsr-3373	181	202	traded	trade	VERB
fsr-3373	181	203	funds	fund	NOUN
fsr-3373	181	204	(	(	PUNCT
fsr-3373	181	205	letfs	letfs	PROPN
fsr-3373	181	206	)	)	PUNCT
fsr-3373	181	207	and	and	CCONJ
fsr-3373	181	208	four	four	NUM
fsr-3373	181	209	constant	constant	ADJ
fsr-3373	181	210	proportional	proportional	ADJ
fsr-3373	181	211	portfolio	portfolio	NOUN
fsr-3373	181	212	insurance	insurance	NOUN
fsr-3373	181	213	(	(	PUNCT
fsr-3373	181	214	cppi	cppi	NOUN
fsr-3373	181	215	)	)	PUNCT
fsr-3373	181	216	strategies	strategy	NOUN
fsr-3373	181	217	.	.	PUNCT
fsr-3373	182	1	2x	2x	NUM
fsr-3373	182	2	,	,	PUNCT
fsr-3373	182	3	3x	3x	NUM
fsr-3373	182	4	,	,	PUNCT
fsr-3373	182	5	and	and	CCONJ
fsr-3373	182	6	4x	4x	NUM
fsr-3373	182	7	cppi	cppi	NOUN
fsr-3373	182	8	strategies	strategy	NOUN
fsr-3373	182	9	replace	replace	VERB
fsr-3373	182	10	the	the	DET
fsr-3373	182	11	standard	standard	ADJ
fsr-3373	182	12	s&p	s&p	PROPN
fsr-3373	182	13	500	500	NUM
fsr-3373	182	14	with	with	ADP
fsr-3373	182	15	2x	2x	NUM
fsr-3373	182	16	,	,	PUNCT
fsr-3373	182	17	3x	3x	NUM
fsr-3373	182	18	,	,	PUNCT
fsr-3373	182	19	and	and	CCONJ
fsr-3373	182	20	4x	4x	NUM
fsr-3373	182	21	letfs	letfs	PROPN
fsr-3373	182	22	.	.	PUNCT
fsr-3373	183	1	asignificantly	asignificantly	ADV
fsr-3373	183	2	better	well	ADV
fsr-3373	183	3	than	than	ADP
fsr-3373	183	4	the	the	DET
fsr-3373	183	5	cppi	cppi	NOUN
fsr-3373	183	6	s&p	s&p	PROPN
fsr-3373	183	7	at	at	ADP
fsr-3373	183	8	the	the	DET
fsr-3373	183	9	5	5	NUM
fsr-3373	183	10	%	%	NOUN
fsr-3373	183	11	level	level	NOUN
fsr-3373	183	12	.	.	PUNCT
fsr-3373	184	1	bsignificantly	bsignificantly	ADV
fsr-3373	184	2	better	well	ADJ
fsr-3373	184	3	than	than	ADP
fsr-3373	184	4	the	the	DET
fsr-3373	184	5	s&p	s&p	PROPN
fsr-3373	184	6	500	500	NUM
fsr-3373	184	7	.	.	PUNCT
fsr-3373	185	1	394	394	NUM
fsr-3373	185	2	j.	j.	PROPN
fsr-3373	185	3	george	george	PROPN
fsr-3373	185	4	,	,	PUNCT
fsr-3373	185	5	w.j	w.j	PROPN
fsr-3373	185	6	.	.	PROPN
fsr-3373	185	7	trainor	trainor	PROPN
fsr-3373	185	8	/	/	SYM
fsr-3373	185	9	financial	financial	ADJ
fsr-3373	185	10	services	service	NOUN
fsr-3373	185	11	review	review	VERB
fsr-3373	185	12	26	26	NUM
fsr-3373	185	13	(	(	PUNCT
fsr-3373	185	14	2017	2017	NUM
fsr-3373	185	15	)	)	PUNCT
fsr-3373	185	16	387–403	387–403	NUM
fsr-3373	185	17	increased	increase	VERB
fsr-3373	185	18	exposure	exposure	NOUN
fsr-3373	185	19	to	to	ADP
fsr-3373	185	20	the	the	DET
fsr-3373	185	21	index	index	NOUN
fsr-3373	185	22	.	.	PUNCT
fsr-3373	186	1	an	an	DET
fsr-3373	186	2	investor	investor	NOUN
fsr-3373	186	3	using	use	VERB
fsr-3373	186	4	a	a	DET
fsr-3373	186	5	letf	letf	ADJ
fsr-3373	186	6	cppi	cppi	NOUN
fsr-3373	186	7	strategy	strategy	NOUN
fsr-3373	186	8	needs	need	VERB
fsr-3373	186	9	to	to	PART
fsr-3373	186	10	attain	attain	VERB
fsr-3373	186	11	additional	additional	ADJ
fsr-3373	186	12	return	return	NOUN
fsr-3373	186	13	with	with	ADP
fsr-3373	186	14	the	the	DET
fsr-3373	186	15	excess	excess	ADJ
fsr-3373	186	16	funds	fund	NOUN
fsr-3373	186	17	to	to	PART
fsr-3373	186	18	overcome	overcome	VERB
fsr-3373	186	19	the	the	DET
fsr-3373	186	20	financing	financing	NOUN
fsr-3373	186	21	costs	cost	NOUN
fsr-3373	186	22	from	from	ADP
fsr-3373	186	23	the	the	DET
fsr-3373	186	24	leverage	leverage	NOUN
fsr-3373	186	25	and	and	CCONJ
fsr-3373	186	26	the	the	DET
fsr-3373	186	27	associated	associate	VERB
fsr-3373	186	28	higher	high	ADJ
fsr-3373	186	29	expense	expense	NOUN
fsr-3373	186	30	ratio	ratio	NOUN
fsr-3373	186	31	.	.	PUNCT
fsr-3373	187	1	to	to	PART
fsr-3373	187	2	ascertain	ascertain	VERB
fsr-3373	187	3	how	how	SCONJ
fsr-3373	187	4	well	well	ADV
fsr-3373	187	5	this	this	DET
fsr-3373	187	6	works	work	VERB
fsr-3373	187	7	in	in	ADP
fsr-3373	187	8	different	different	ADJ
fsr-3373	187	9	interest	interest	NOUN
fsr-3373	187	10	rate	rate	NOUN
fsr-3373	187	11	environments	environment	NOUN
fsr-3373	187	12	,	,	PUNCT
fsr-3373	187	13	table	table	NOUN
fsr-3373	187	14	4	4	NUM
fsr-3373	187	15	shows	show	VERB
fsr-3373	187	16	historical	historical	ADJ
fsr-3373	187	17	subperiods	subperiod	NOUN
fsr-3373	187	18	from	from	ADP
fsr-3373	187	19	1947	1947	NUM
fsr-3373	187	20	to	to	ADP
fsr-3373	187	21	1959	1959	NUM
fsr-3373	187	22	,	,	PUNCT
fsr-3373	187	23	1960–1978	1960–1978	NUM
fsr-3373	187	24	,	,	PUNCT
fsr-3373	187	25	1979	1979	NUM
fsr-3373	187	26	–	–	PUNCT
fsr-3373	187	27	1991	1991	NUM
fsr-3373	187	28	,	,	PUNCT
fsr-3373	187	29	1992–2008	1992–2008	NUM
fsr-3373	187	30	,	,	PUNCT
fsr-3373	187	31	and	and	CCONJ
fsr-3373	187	32	2009–2016	2009–2016	NUM
fsr-3373	187	33	.	.	PUNCT
fsr-3373	188	1	these	these	DET
fsr-3373	188	2	periods	period	NOUN
fsr-3373	188	3	correspond	correspond	VERB
fsr-3373	188	4	to	to	ADP
fsr-3373	188	5	average	average	ADJ
fsr-3373	188	6	rates	rate	NOUN
fsr-3373	188	7	of	of	ADP
fsr-3373	188	8	2.0	2.0	NUM
fsr-3373	188	9	%	%	NOUN
fsr-3373	188	10	,	,	PUNCT
fsr-3373	188	11	5.59	5.59	NUM
fsr-3373	188	12	%	%	NOUN
fsr-3373	188	13	,	,	PUNCT
fsr-3373	188	14	10.87	10.87	NUM
fsr-3373	188	15	%	%	NOUN
fsr-3373	188	16	,	,	PUNCT
fsr-3373	188	17	4.71	4.71	NUM
fsr-3373	188	18	%	%	NOUN
fsr-3373	188	19	,	,	PUNCT
fsr-3373	188	20	and	and	CCONJ
fsr-3373	188	21	0.39	0.39	NUM
fsr-3373	188	22	%	%	NOUN
fsr-3373	188	23	respectively	respectively	ADV
fsr-3373	188	24	.	.	PUNCT
fsr-3373	189	1	as	as	SCONJ
fsr-3373	189	2	might	might	AUX
fsr-3373	189	3	be	be	AUX
fsr-3373	189	4	expected	expect	VERB
fsr-3373	189	5	,	,	PUNCT
fsr-3373	189	6	when	when	SCONJ
fsr-3373	189	7	rates	rate	NOUN
fsr-3373	189	8	are	be	AUX
fsr-3373	189	9	low	low	ADJ
fsr-3373	189	10	with	with	ADP
fsr-3373	189	11	a	a	DET
fsr-3373	189	12	relatively	relatively	ADV
fsr-3373	189	13	flat	flat	ADJ
fsr-3373	189	14	yield	yield	NOUN
fsr-3373	189	15	curve	curve	NOUN
fsr-3373	189	16	as	as	SCONJ
fsr-3373	189	17	seen	see	VERB
fsr-3373	189	18	in	in	ADP
fsr-3373	189	19	1947–1959	1947–1959	NUM
fsr-3373	189	20	and	and	CCONJ
fsr-3373	189	21	especially	especially	ADV
fsr-3373	189	22	during	during	ADP
fsr-3373	189	23	2009–2016	2009–2016	NUM
fsr-3373	189	24	,	,	PUNCT
fsr-3373	189	25	there	there	PRON
fsr-3373	189	26	is	be	VERB
fsr-3373	189	27	little	little	ADJ
fsr-3373	189	28	advantage	advantage	NOUN
fsr-3373	189	29	to	to	ADP
fsr-3373	189	30	using	use	VERB
fsr-3373	189	31	a	a	DET
fsr-3373	189	32	letf	letf	ADJ
fsr-3373	189	33	cppi	cppi	NOUN
fsr-3373	189	34	with	with	ADP
fsr-3373	189	35	average	average	ADJ
fsr-3373	189	36	returns	return	NOUN
fsr-3373	189	37	less	less	ADV
fsr-3373	189	38	or	or	CCONJ
fsr-3373	189	39	not	not	PART
fsr-3373	189	40	much	much	ADV
fsr-3373	189	41	greater	great	ADJ
fsr-3373	189	42	than	than	ADP
fsr-3373	189	43	a	a	DET
fsr-3373	189	44	traditional	traditional	ADJ
fsr-3373	189	45	cppi	cppi	NOUN
fsr-3373	189	46	.	.	PUNCT
fsr-3373	190	1	during	during	ADP
fsr-3373	190	2	more	more	ADJ
fsr-3373	190	3	“	"	PUNCT
fsr-3373	190	4	normal	normal	ADJ
fsr-3373	190	5	”	"	PUNCT
fsr-3373	190	6	interest	interest	NOUN
fsr-3373	190	7	rate	rate	NOUN
fsr-3373	190	8	periods	period	NOUN
fsr-3373	190	9	such	such	ADJ
fsr-3373	190	10	as	as	ADP
fsr-3373	190	11	1960–1978	1960–1978	NUM
fsr-3373	190	12	and	and	CCONJ
fsr-3373	190	13	1992–2008	1992–2008	NUM
fsr-3373	190	14	,	,	PUNCT
fsr-3373	190	15	letf	letf	ADV
fsr-3373	190	16	cppis	cppi	VERB
fsr-3373	190	17	outperform	outperform	NOUN
fsr-3373	190	18	a	a	DET
fsr-3373	190	19	traditional	traditional	ADJ
fsr-3373	190	20	cppi	cppi	NOUN
fsr-3373	190	21	by	by	ADP
fsr-3373	190	22	0.3	0.3	NUM
fsr-3373	190	23	%	%	NOUN
fsr-3373	190	24	to	to	ADP
fsr-3373	190	25	as	as	ADV
fsr-3373	190	26	much	much	ADJ
fsr-3373	190	27	as	as	ADP
fsr-3373	190	28	1.5	1.5	NUM
fsr-3373	190	29	%	%	NOUN
fsr-3373	190	30	.	.	PUNCT
fsr-3373	191	1	an	an	DET
fsr-3373	191	2	interesting	interesting	ADJ
fsr-3373	191	3	find	find	NOUN
fsr-3373	191	4	was	be	AUX
fsr-3373	191	5	that	that	SCONJ
fsr-3373	191	6	the	the	DET
fsr-3373	191	7	cppi	cppi	NOUN
fsr-3373	191	8	portfolios	portfolio	NOUN
fsr-3373	191	9	have	have	VERB
fsr-3373	191	10	higher	high	ADJ
fsr-3373	191	11	average	average	ADJ
fsr-3373	191	12	returns	return	NOUN
fsr-3373	191	13	than	than	ADP
fsr-3373	191	14	the	the	DET
fsr-3373	191	15	s&p	s&p	PROPN
fsr-3373	191	16	500	500	NUM
fsr-3373	191	17	during	during	ADP
fsr-3373	191	18	the	the	DET
fsr-3373	191	19	1960–1978	1960–1978	NUM
fsr-3373	191	20	period	period	NOUN
fsr-3373	191	21	as	as	SCONJ
fsr-3373	191	22	they	they	PRON
fsr-3373	191	23	avoided	avoid	VERB
fsr-3373	191	24	0	0	NUM
fsr-3373	192	1	1	1	NUM
fsr-3373	192	2	2	2	NUM
fsr-3373	192	3	3	3	NUM
fsr-3373	192	4	4	4	NUM
fsr-3373	192	5	5	5	NUM
fsr-3373	192	6	6	6	NUM
fsr-3373	192	7	7	7	NUM
fsr-3373	192	8	8	8	NUM
fsr-3373	192	9	19	19	NUM
fsr-3373	192	10	46	46	NUM
fsr-3373	192	11	19	19	NUM
fsr-3373	192	12	49	49	NUM
fsr-3373	192	13	19	19	NUM
fsr-3373	192	14	52	52	NUM
fsr-3373	192	15	19	19	NUM
fsr-3373	192	16	55	55	NUM
fsr-3373	192	17	19	19	NUM
fsr-3373	192	18	58	58	NUM
fsr-3373	192	19	19	19	NUM
fsr-3373	192	20	61	61	NUM
fsr-3373	192	21	19	19	NUM
fsr-3373	192	22	64	64	NUM
fsr-3373	192	23	19	19	NUM
fsr-3373	192	24	67	67	NUM
fsr-3373	192	25	19	19	NUM
fsr-3373	192	26	70	70	NUM
fsr-3373	192	27	19	19	NUM
fsr-3373	192	28	73	73	NUM
fsr-3373	192	29	19	19	NUM
fsr-3373	192	30	76	76	NUM
fsr-3373	192	31	19	19	NUM
fsr-3373	192	32	79	79	NUM
fsr-3373	192	33	19	19	NUM
fsr-3373	192	34	82	82	NUM
fsr-3373	192	35	19	19	NUM
fsr-3373	192	36	85	85	NUM
fsr-3373	192	37	19	19	NUM
fsr-3373	192	38	88	88	NUM
fsr-3373	192	39	19	19	NUM
fsr-3373	192	40	91	91	NUM
fsr-3373	192	41	19	19	NUM
fsr-3373	192	42	94	94	NUM
fsr-3373	192	43	19	19	NUM
fsr-3373	192	44	97	97	NUM
fsr-3373	192	45	20	20	NUM
fsr-3373	192	46	00	00	NUM
fsr-3373	192	47	20	20	NUM
fsr-3373	192	48	03	03	NUM
fsr-3373	192	49	20	20	NUM
fsr-3373	192	50	06	06	NUM
fsr-3373	192	51	20	20	NUM
fsr-3373	192	52	09	09	NUM
fsr-3373	192	53	20	20	NUM
fsr-3373	192	54	12	12	NUM
fsr-3373	192	55	20	20	NUM
fsr-3373	192	56	15	15	NUM
fsr-3373	192	57	cumula	cumula	PROPN
fsr-3373	192	58	�	�	PROPN
fsr-3373	192	59	ve	ve	NOUN
fsr-3373	192	60	ln	ln	ADJ
fsr-3373	192	61	growth	growth	NOUN
fsr-3373	192	62	of	of	ADP
fsr-3373	192	63	$	$	SYM
fsr-3373	192	64	1	1	NUM
fsr-3373	192	65	from	from	ADP
fsr-3373	192	66	1947	1947	NUM
fsr-3373	192	67	to	to	ADP
fsr-3373	192	68	2016	2016	NUM
fsr-3373	192	69	s&p	s&p	PROPN
fsr-3373	192	70	s&p	s&p	PROPN
fsr-3373	192	71	cppi	cppi	NOUN
fsr-3373	192	72	cppi	cppi	PROPN
fsr-3373	192	73	2x	2x	NUM
fsr-3373	192	74	cppi	cppi	PROPN
fsr-3373	192	75	3x	3x	NUM
fsr-3373	192	76	cppi	cppi	PROPN
fsr-3373	192	77	4x	4x	NUM
fsr-3373	192	78	fig	fig	NOUN
fsr-3373	192	79	.	.	PUNCT
fsr-3373	193	1	1	1	X
fsr-3373	193	2	.	.	X
fsr-3373	193	3	cumulative	cumulative	ADJ
fsr-3373	193	4	ln	ln	ADJ
fsr-3373	193	5	growth	growth	NOUN
fsr-3373	193	6	of	of	ADP
fsr-3373	193	7	$	$	SYM
fsr-3373	193	8	1	1	NUM
fsr-3373	193	9	for	for	ADP
fsr-3373	193	10	the	the	DET
fsr-3373	193	11	four	four	NUM
fsr-3373	193	12	cppi	cppi	NOUN
fsr-3373	193	13	strategies	strategy	NOUN
fsr-3373	193	14	and	and	CCONJ
fsr-3373	193	15	the	the	DET
fsr-3373	193	16	s&p	s&p	PROPN
fsr-3373	193	17	500	500	NUM
fsr-3373	193	18	from	from	ADP
fsr-3373	193	19	1947	1947	NUM
fsr-3373	193	20	to	to	ADP
fsr-3373	193	21	2016	2016	NUM
fsr-3373	193	22	.	.	PUNCT
fsr-3373	194	1	table	table	NOUN
fsr-3373	194	2	4	4	NUM
fsr-3373	194	3	average	average	ADJ
fsr-3373	194	4	annual	annual	ADJ
fsr-3373	194	5	returns	return	NOUN
fsr-3373	194	6	for	for	ADP
fsr-3373	194	7	different	different	ADJ
fsr-3373	194	8	interest	interest	NOUN
fsr-3373	194	9	rate	rate	NOUN
fsr-3373	194	10	environments	environment	NOUN
fsr-3373	194	11	during	during	ADP
fsr-3373	194	12	1947–2016	1947–2016	NUM
fsr-3373	194	13	time	time	NOUN
fsr-3373	194	14	period	period	NOUN
fsr-3373	194	15	1	1	NUM
fsr-3373	194	16	-	-	PUNCT
fsr-3373	194	17	year	year	NOUN
fsr-3373	194	18	t	t	PROPN
fsr-3373	194	19	-	-	PUNCT
fsr-3373	194	20	bill	bill	NOUN
fsr-3373	194	21	s&p	s&p	PROPN
fsr-3373	194	22	cppi	cppi	PROPN
fsr-3373	194	23	s&p	s&p	PROPN
fsr-3373	194	24	cppi	cppi	NOUN
fsr-3373	194	25	2x	2x	NUM
fsr-3373	194	26	cppi	cppi	NOUN
fsr-3373	194	27	3x	3x	NUM
fsr-3373	194	28	cppi	cppi	PROPN
fsr-3373	194	29	4x	4x	NOUN
fsr-3373	194	30	1947–2016	1947–2016	NUM
fsr-3373	194	31	5.10	5.10	NUM
fsr-3373	194	32	%	%	NOUN
fsr-3373	194	33	12.53	12.53	NUM
fsr-3373	194	34	%	%	NOUN
fsr-3373	194	35	10.13	10.13	NUM
fsr-3373	194	36	%	%	NOUN
fsr-3373	194	37	10.60	10.60	NUM
fsr-3373	194	38	%	%	NOUN
fsr-3373	194	39	11.15	11.15	NUM
fsr-3373	194	40	%	%	NOUN
fsr-3373	194	41	11.48	11.48	NUM
fsr-3373	194	42	%	%	NOUN
fsr-3373	194	43	1947–1959	1947–1959	NUM
fsr-3373	194	44	2.00	2.00	NUM
fsr-3373	194	45	%	%	NOUN
fsr-3373	194	46	18.30	18.30	NUM
fsr-3373	194	47	%	%	NOUN
fsr-3373	194	48	13.57	13.57	NUM
fsr-3373	194	49	%	%	NOUN
fsr-3373	194	50	13.38	13.38	NUM
fsr-3373	194	51	%	%	NOUN
fsr-3373	194	52	13.78	13.78	NUM
fsr-3373	194	53	%	%	NOUN
fsr-3373	194	54	14.06	14.06	NUM
fsr-3373	194	55	%	%	NOUN
fsr-3373	194	56	1960–1978	1960–1978	NUM
fsr-3373	194	57	5.59	5.59	NUM
fsr-3373	194	58	%	%	NOUN
fsr-3373	194	59	7.51	7.51	NUM
fsr-3373	194	60	%	%	NOUN
fsr-3373	194	61	7.94	7.94	NUM
fsr-3373	194	62	%	%	NOUN
fsr-3373	194	63	8.50	8.50	NUM
fsr-3373	194	64	%	%	NOUN
fsr-3373	194	65	9.11	9.11	NUM
fsr-3373	194	66	%	%	NOUN
fsr-3373	194	67	9.51	9.51	NUM
fsr-3373	194	68	%	%	NOUN
fsr-3373	194	69	1979–1991	1979–1991	NUM
fsr-3373	194	70	10.87	10.87	NUM
fsr-3373	194	71	%	%	NOUN
fsr-3373	194	72	17.56	17.56	NUM
fsr-3373	194	73	%	%	NOUN
fsr-3373	194	74	14.96	14.96	NUM
fsr-3373	194	75	%	%	NOUN
fsr-3373	194	76	16.72	16.72	NUM
fsr-3373	194	77	%	%	NOUN
fsr-3373	194	78	17.80	17.80	NUM
fsr-3373	194	79	%	%	NOUN
fsr-3373	194	80	18.40	18.40	NUM
fsr-3373	194	81	%	%	NOUN
fsr-3373	194	82	1992–2008	1992–2008	NUM
fsr-3373	194	83	4.71	4.71	NUM
fsr-3373	194	84	%	%	NOUN
fsr-3373	194	85	8.81	8.81	NUM
fsr-3373	194	86	%	%	NOUN
fsr-3373	194	87	7.93	7.93	NUM
fsr-3373	194	88	%	%	NOUN
fsr-3373	194	89	8.20	8.20	NUM
fsr-3373	194	90	%	%	NOUN
fsr-3373	194	91	8.60	8.60	NUM
fsr-3373	194	92	%	%	NOUN
fsr-3373	194	93	8.82	8.82	NUM
fsr-3373	194	94	%	%	NOUN
fsr-3373	194	95	2009–2016	2009–2016	NUM
fsr-3373	194	96	0.39	0.39	NUM
fsr-3373	194	97	%	%	NOUN
fsr-3373	194	98	14.81	14.81	NUM
fsr-3373	194	99	%	%	NOUN
fsr-3373	194	100	6.59	6.59	NUM
fsr-3373	194	101	%	%	NOUN
fsr-3373	194	102	6.20	6.20	NUM
fsr-3373	194	103	%	%	NOUN
fsr-3373	194	104	6.36	6.36	NUM
fsr-3373	194	105	%	%	NOUN
fsr-3373	194	106	6.41	6.41	NUM
fsr-3373	194	107	%	%	NOUN
fsr-3373	194	108	results	result	NOUN
fsr-3373	194	109	show	show	VERB
fsr-3373	194	110	average	average	ADJ
fsr-3373	194	111	annual	annual	ADJ
fsr-3373	194	112	returns	return	NOUN
fsr-3373	194	113	from	from	ADP
fsr-3373	194	114	january	january	PROPN
fsr-3373	194	115	1947	1947	NUM
fsr-3373	194	116	to	to	ADP
fsr-3373	194	117	december	december	PROPN
fsr-3373	194	118	2016	2016	NUM
fsr-3373	194	119	for	for	ADP
fsr-3373	194	120	the	the	DET
fsr-3373	194	121	s&p	s&p	PROPN
fsr-3373	194	122	500	500	NUM
fsr-3373	194	123	along	along	ADP
fsr-3373	194	124	with	with	ADP
fsr-3373	194	125	four	four	NUM
fsr-3373	194	126	constant	constant	ADJ
fsr-3373	194	127	proportional	proportional	ADJ
fsr-3373	194	128	portfolio	portfolio	NOUN
fsr-3373	194	129	insurance	insurance	NOUN
fsr-3373	194	130	(	(	PUNCT
fsr-3373	194	131	cppi	cppi	NOUN
fsr-3373	194	132	)	)	PUNCT
fsr-3373	194	133	strategies	strategy	NOUN
fsr-3373	194	134	for	for	ADP
fsr-3373	194	135	various	various	ADJ
fsr-3373	194	136	sub	sub	ADJ
fsr-3373	194	137	-	-	ADJ
fsr-3373	194	138	periods	period	NOUN
fsr-3373	194	139	corresponding	correspond	VERB
fsr-3373	194	140	to	to	ADP
fsr-3373	194	141	changing	change	VERB
fsr-3373	194	142	interest	interest	NOUN
fsr-3373	194	143	rate	rate	NOUN
fsr-3373	194	144	environments	environment	NOUN
fsr-3373	194	145	.	.	PUNCT
fsr-3373	195	1	395j	395j	NOUN
fsr-3373	195	2	.	.	PUNCT
fsr-3373	196	1	george	george	PROPN
fsr-3373	196	2	,	,	PUNCT
fsr-3373	196	3	w.j	w.j	PROPN
fsr-3373	196	4	.	.	PROPN
fsr-3373	196	5	trainor	trainor	PROPN
fsr-3373	196	6	/	/	SYM
fsr-3373	196	7	financial	financial	ADJ
fsr-3373	196	8	services	service	NOUN
fsr-3373	196	9	review	review	VERB
fsr-3373	196	10	26	26	NUM
fsr-3373	196	11	(	(	PUNCT
fsr-3373	196	12	2017	2017	NUM
fsr-3373	196	13	)	)	PUNCT
fsr-3373	196	14	387–403	387–403	NUM
fsr-3373	196	15	large	large	ADJ
fsr-3373	196	16	losses	loss	NOUN
fsr-3373	196	17	and	and	CCONJ
fsr-3373	196	18	gave	give	VERB
fsr-3373	196	19	up	up	ADP
fsr-3373	196	20	little	little	ADJ
fsr-3373	196	21	relative	relative	ADJ
fsr-3373	196	22	performance	performance	NOUN
fsr-3373	196	23	by	by	ADP
fsr-3373	196	24	investing	invest	VERB
fsr-3373	196	25	in	in	ADP
fsr-3373	196	26	one	one	NUM
fsr-3373	196	27	-	-	PUNCT
fsr-3373	196	28	year	year	NOUN
fsr-3373	196	29	t	t	PROPN
fsr-3373	196	30	-	-	PUNCT
fsr-3373	196	31	bills	bill	NOUN
fsr-3373	196	32	.	.	PUNCT
fsr-3373	197	1	letf	letf	ADJ
fsr-3373	197	2	cppi	cppi	NOUN
fsr-3373	197	3	’s	’s	PART
fsr-3373	197	4	performed	perform	VERB
fsr-3373	197	5	best	well	ADV
fsr-3373	197	6	during	during	ADP
fsr-3373	197	7	the	the	DET
fsr-3373	197	8	1979–91	1979–91	NUM
fsr-3373	197	9	period	period	NOUN
fsr-3373	197	10	when	when	SCONJ
fsr-3373	197	11	the	the	DET
fsr-3373	197	12	one	one	NUM
fsr-3373	197	13	-	-	PUNCT
fsr-3373	197	14	year	year	NOUN
fsr-3373	197	15	t	t	PROPN
fsr-3373	197	16	-	-	PUNCT
fsr-3373	197	17	bill	bill	NOUN
fsr-3373	197	18	return	return	NOUN
fsr-3373	197	19	averaged	average	VERB
fsr-3373	197	20	10.87	10.87	NUM
fsr-3373	197	21	%	%	NOUN
fsr-3373	197	22	.	.	PUNCT
fsr-3373	198	1	although	although	SCONJ
fsr-3373	198	2	this	this	PRON
fsr-3373	198	3	was	be	AUX
fsr-3373	198	4	much	much	ADV
fsr-3373	198	5	less	less	ADJ
fsr-3373	198	6	than	than	ADP
fsr-3373	198	7	the	the	DET
fsr-3373	198	8	s&p	s&p	PROPN
fsr-3373	198	9	’s	’s	PART
fsr-3373	198	10	17.56	17.56	NUM
fsr-3373	198	11	%	%	NOUN
fsr-3373	198	12	average	average	NOUN
fsr-3373	198	13	,	,	PUNCT
fsr-3373	198	14	the	the	DET
fsr-3373	198	15	3x	3x	NUM
fsr-3373	198	16	and	and	CCONJ
fsr-3373	198	17	4x	4x	NUM
fsr-3373	198	18	cppi	cppi	NOUN
fsr-3373	198	19	still	still	ADV
fsr-3373	198	20	outperformed	outperform	VERB
fsr-3373	198	21	the	the	DET
fsr-3373	198	22	s&p	s&p	PROPN
fsr-3373	198	23	itself	itself	PRON
fsr-3373	198	24	.	.	PUNCT
fsr-3373	199	1	relative	relative	ADJ
fsr-3373	199	2	to	to	ADP
fsr-3373	199	3	the	the	DET
fsr-3373	199	4	standard	standard	ADJ
fsr-3373	199	5	s&p	s&p	PROPN
fsr-3373	199	6	cppi	cppi	NOUN
fsr-3373	199	7	,	,	PUNCT
fsr-3373	199	8	all	all	DET
fsr-3373	199	9	the	the	DET
fsr-3373	199	10	letf	letf	ADJ
fsr-3373	199	11	cppis	cppi	VERB
fsr-3373	199	12	outperformed	outperform	VERB
fsr-3373	199	13	by	by	ADP
fsr-3373	199	14	1.76	1.76	NUM
fsr-3373	199	15	%	%	NOUN
fsr-3373	199	16	to	to	ADP
fsr-3373	199	17	3.44	3.44	NUM
fsr-3373	199	18	%	%	NOUN
fsr-3373	199	19	.	.	PUNCT
fsr-3373	200	1	thus	thus	ADV
fsr-3373	200	2	,	,	PUNCT
fsr-3373	200	3	during	during	ADP
fsr-3373	200	4	low	low	ADJ
fsr-3373	200	5	interest	interest	NOUN
fsr-3373	200	6	rate	rate	NOUN
fsr-3373	200	7	or	or	CCONJ
fsr-3373	200	8	flat	flat	ADJ
fsr-3373	200	9	yield	yield	NOUN
fsr-3373	200	10	curve	curve	NOUN
fsr-3373	200	11	environments	environment	NOUN
fsr-3373	200	12	,	,	PUNCT
fsr-3373	200	13	there	there	PRON
fsr-3373	200	14	appears	appear	VERB
fsr-3373	200	15	to	to	PART
fsr-3373	200	16	be	be	AUX
fsr-3373	200	17	little	little	ADJ
fsr-3373	200	18	advantage	advantage	NOUN
fsr-3373	200	19	of	of	ADP
fsr-3373	200	20	creating	create	VERB
fsr-3373	200	21	letf	letf	ADJ
fsr-3373	200	22	cppi	cppi	NOUN
fsr-3373	200	23	portfolios	portfolio	NOUN
fsr-3373	200	24	.	.	PUNCT
fsr-3373	201	1	in	in	ADP
fsr-3373	201	2	average	average	ADJ
fsr-3373	201	3	or	or	CCONJ
fsr-3373	201	4	high	high	ADJ
fsr-3373	201	5	interest	interest	NOUN
fsr-3373	201	6	rate	rate	NOUN
fsr-3373	201	7	environments	environment	NOUN
fsr-3373	201	8	,	,	PUNCT
fsr-3373	201	9	they	they	PRON
fsr-3373	201	10	outperform	outperform	VERB
fsr-3373	201	11	a	a	DET
fsr-3373	201	12	standard	standard	ADJ
fsr-3373	201	13	cppi	cppi	NOUN
fsr-3373	201	14	.	.	PUNCT
fsr-3373	202	1	with	with	ADP
fsr-3373	202	2	letf	letf	ADJ
fsr-3373	202	3	etfs	etfs	NOUN
fsr-3373	202	4	not	not	PART
fsr-3373	202	5	being	be	AUX
fsr-3373	202	6	introduced	introduce	VERB
fsr-3373	202	7	until	until	ADP
fsr-3373	202	8	mid-2006	mid-2006	NOUN
fsr-3373	202	9	,	,	PUNCT
fsr-3373	202	10	the	the	DET
fsr-3373	202	11	results	result	NOUN
fsr-3373	202	12	using	use	VERB
fsr-3373	202	13	actual	actual	ADJ
fsr-3373	202	14	letfs	letfs	NOUN
fsr-3373	202	15	are	be	AUX
fsr-3373	202	16	unlikely	unlikely	ADJ
fsr-3373	202	17	to	to	PART
fsr-3373	202	18	be	be	AUX
fsr-3373	202	19	favorable	favorable	ADJ
fsr-3373	202	20	relative	relative	ADJ
fsr-3373	202	21	to	to	ADP
fsr-3373	202	22	a	a	DET
fsr-3373	202	23	traditional	traditional	ADJ
fsr-3373	202	24	cppi	cppi	NOUN
fsr-3373	202	25	since	since	SCONJ
fsr-3373	202	26	the	the	DET
fsr-3373	202	27	federal	federal	PROPN
fsr-3373	202	28	reserve	reserve	PROPN
fsr-3373	202	29	has	have	AUX
fsr-3373	202	30	followed	follow	VERB
fsr-3373	202	31	a	a	DET
fsr-3373	202	32	near	near	ADJ
fsr-3373	202	33	zero	zero	NUM
fsr-3373	202	34	interest	interest	NOUN
fsr-3373	202	35	rate	rate	NOUN
fsr-3373	202	36	policy	policy	NOUN
fsr-3373	202	37	since	since	SCONJ
fsr-3373	202	38	the	the	DET
fsr-3373	202	39	2008	2008	NUM
fsr-3373	202	40	financial	financial	ADJ
fsr-3373	202	41	crisis	crisis	NOUN
fsr-3373	202	42	.	.	PUNCT
fsr-3373	203	1	however	however	ADV
fsr-3373	203	2	,	,	PUNCT
fsr-3373	203	3	it	it	PRON
fsr-3373	203	4	is	be	AUX
fsr-3373	203	5	informative	informative	ADJ
fsr-3373	203	6	to	to	PART
fsr-3373	203	7	examine	examine	VERB
fsr-3373	203	8	how	how	SCONJ
fsr-3373	203	9	a	a	DET
fsr-3373	203	10	letf	letf	ADJ
fsr-3373	203	11	cppi	cppi	NOUN
fsr-3373	203	12	performs	perform	VERB
fsr-3373	203	13	in	in	ADP
fsr-3373	203	14	practice	practice	NOUN
fsr-3373	203	15	.	.	PUNCT
fsr-3373	204	1	table	table	NOUN
fsr-3373	204	2	5	5	NUM
fsr-3373	204	3	shows	show	VERB
fsr-3373	204	4	the	the	DET
fsr-3373	204	5	returns	return	NOUN
fsr-3373	204	6	from	from	ADP
fsr-3373	204	7	2007	2007	NUM
fsr-3373	204	8	through	through	ADP
fsr-3373	204	9	2016	2016	NUM
fsr-3373	204	10	using	use	VERB
fsr-3373	204	11	the	the	DET
fsr-3373	204	12	spy	spy	NOUN
fsr-3373	204	13	for	for	ADP
fsr-3373	204	14	the	the	DET
fsr-3373	204	15	s&p	s&p	PROPN
fsr-3373	204	16	500	500	NUM
fsr-3373	204	17	and	and	CCONJ
fsr-3373	204	18	proshares	proshare	VERB
fsr-3373	204	19	2x	2x	NUM
fsr-3373	204	20	sso	sso	NOUN
fsr-3373	204	21	.	.	PUNCT
fsr-3373	205	1	although	although	SCONJ
fsr-3373	205	2	not	not	PART
fsr-3373	205	3	shown	show	VERB
fsr-3373	205	4	,	,	PUNCT
fsr-3373	205	5	proshares	proshare	NOUN
fsr-3373	205	6	3x	3x	PROPN
fsr-3373	205	7	upro	upro	PROPN
fsr-3373	205	8	has	have	VERB
fsr-3373	205	9	similar	similar	ADJ
fsr-3373	205	10	results	result	NOUN
fsr-3373	205	11	.	.	PUNCT
fsr-3373	206	1	both	both	DET
fsr-3373	206	2	cppi	cppi	NOUN
fsr-3373	206	3	strategies	strategy	NOUN
fsr-3373	206	4	perform	perform	VERB
fsr-3373	206	5	as	as	ADV
fsr-3373	206	6	advertised	advertise	VERB
fsr-3373	206	7	as	as	SCONJ
fsr-3373	206	8	downside	downside	ADJ
fsr-3373	206	9	risk	risk	NOUN
fsr-3373	206	10	is	be	AUX
fsr-3373	206	11	mitigated	mitigate	VERB
fsr-3373	206	12	and	and	CCONJ
fsr-3373	206	13	the	the	DET
fsr-3373	206	14	�	�	NOUN
fsr-3373	206	15	10	10	NUM
fsr-3373	206	16	%	%	NOUN
fsr-3373	206	17	floor	floor	NOUN
fsr-3373	206	18	is	be	AUX
fsr-3373	206	19	not	not	PART
fsr-3373	206	20	breached	breach	VERB
fsr-3373	206	21	even	even	ADV
fsr-3373	206	22	in	in	ADP
fsr-3373	206	23	2008	2008	NUM
fsr-3373	206	24	when	when	SCONJ
fsr-3373	206	25	the	the	DET
fsr-3373	206	26	s&p	s&p	PROPN
fsr-3373	206	27	fell	fall	VERB
fsr-3373	206	28	37	37	NUM
fsr-3373	206	29	%	%	NOUN
fsr-3373	206	30	.	.	PUNCT
fsr-3373	207	1	both	both	DET
fsr-3373	207	2	cppi	cppi	NOUN
fsr-3373	207	3	strategies	strategy	NOUN
fsr-3373	207	4	track	track	VERB
fsr-3373	207	5	each	each	DET
fsr-3373	207	6	other	other	ADJ
fsr-3373	207	7	,	,	PUNCT
fsr-3373	207	8	but	but	CCONJ
fsr-3373	207	9	the	the	DET
fsr-3373	207	10	s&p	s&p	PROPN
fsr-3373	207	11	cppi	cppi	NOUN
fsr-3373	207	12	strategy	strategy	NOUN
fsr-3373	207	13	outperforms	outperform	VERB
fsr-3373	207	14	the	the	DET
fsr-3373	207	15	cppi	cppi	NOUN
fsr-3373	207	16	2x	2x	NUM
fsr-3373	208	1	every	every	DET
fsr-3373	208	2	year	year	NOUN
fsr-3373	208	3	with	with	ADP
fsr-3373	208	4	the	the	DET
fsr-3373	208	5	exception	exception	NOUN
fsr-3373	208	6	of	of	ADP
fsr-3373	208	7	near	near	ADJ
fsr-3373	208	8	equal	equal	ADJ
fsr-3373	208	9	results	result	NOUN
fsr-3373	208	10	in	in	ADP
fsr-3373	208	11	2008	2008	NUM
fsr-3373	208	12	.	.	PUNCT
fsr-3373	209	1	these	these	DET
fsr-3373	209	2	results	result	NOUN
fsr-3373	209	3	are	be	AUX
fsr-3373	209	4	mainly	mainly	ADV
fsr-3373	209	5	because	because	SCONJ
fsr-3373	209	6	of	of	ADP
fsr-3373	209	7	the	the	DET
fsr-3373	209	8	fact	fact	NOUN
fsr-3373	209	9	the	the	DET
fsr-3373	209	10	2x	2x	NOUN
fsr-3373	209	11	still	still	ADV
fsr-3373	209	12	must	must	AUX
fsr-3373	209	13	deal	deal	VERB
fsr-3373	209	14	with	with	ADP
fsr-3373	209	15	decay	decay	NOUN
fsr-3373	209	16	along	along	ADV
fsr-3373	209	17	with	with	ADP
fsr-3373	209	18	higher	high	ADJ
fsr-3373	209	19	expenses	expense	NOUN
fsr-3373	209	20	and	and	CCONJ
fsr-3373	209	21	can	can	AUX
fsr-3373	209	22	not	not	PART
fsr-3373	209	23	make	make	VERB
fsr-3373	209	24	up	up	ADP
fsr-3373	209	25	the	the	DET
fsr-3373	209	26	difference	difference	NOUN
fsr-3373	209	27	with	with	ADP
fsr-3373	209	28	additional	additional	ADJ
fsr-3373	209	29	earnings	earning	NOUN
fsr-3373	209	30	on	on	ADP
fsr-3373	209	31	the	the	DET
fsr-3373	209	32	risk	risk	NOUN
fsr-3373	209	33	-	-	PUNCT
fsr-3373	209	34	free	free	ADJ
fsr-3373	209	35	rate	rate	NOUN
fsr-3373	209	36	.	.	PUNCT
fsr-3373	210	1	these	these	DET
fsr-3373	210	2	results	result	NOUN
fsr-3373	210	3	reinforce	reinforce	VERB
fsr-3373	210	4	the	the	DET
fsr-3373	210	5	conclusions	conclusion	NOUN
fsr-3373	210	6	from	from	ADP
fsr-3373	210	7	table	table	NOUN
fsr-3373	210	8	4	4	NUM
fsr-3373	210	9	when	when	SCONJ
fsr-3373	210	10	rates	rate	NOUN
fsr-3373	210	11	are	be	AUX
fsr-3373	210	12	low	low	ADJ
fsr-3373	210	13	.	.	PUNCT
fsr-3373	211	1	in	in	ADP
fsr-3373	211	2	addition	addition	NOUN
fsr-3373	211	3	,	,	PUNCT
fsr-3373	211	4	when	when	SCONJ
fsr-3373	211	5	the	the	DET
fsr-3373	211	6	risk	risk	NOUN
fsr-3373	211	7	-	-	PUNCT
fsr-3373	211	8	free	free	ADJ
fsr-3373	211	9	rate	rate	NOUN
fsr-3373	211	10	was	be	AUX
fsr-3373	211	11	still	still	ADV
fsr-3373	211	12	relatively	relatively	ADV
fsr-3373	211	13	high	high	ADJ
fsr-3373	211	14	in	in	ADP
fsr-3373	211	15	2007	2007	NUM
fsr-3373	211	16	and	and	CCONJ
fsr-3373	211	17	2008	2008	NUM
fsr-3373	211	18	,	,	PUNCT
fsr-3373	211	19	the	the	DET
fsr-3373	211	20	sso	sso	NOUN
fsr-3373	211	21	2x	2x	NUM
fsr-3373	211	22	still	still	ADV
fsr-3373	211	23	underperforms	underperform	VERB
fsr-3373	211	24	because	because	SCONJ
fsr-3373	211	25	of	of	ADP
fsr-3373	211	26	the	the	DET
fsr-3373	211	27	high	high	ADJ
fsr-3373	211	28	volatility	volatility	NOUN
fsr-3373	211	29	during	during	ADP
fsr-3373	211	30	that	that	DET
fsr-3373	211	31	period	period	NOUN
fsr-3373	211	32	causing	cause	VERB
fsr-3373	211	33	serious	serious	ADJ
fsr-3373	211	34	return	return	NOUN
fsr-3373	211	35	decay	decay	NOUN
fsr-3373	211	36	.	.	PUNCT
fsr-3373	212	1	in	in	ADP
fsr-3373	212	2	fact	fact	NOUN
fsr-3373	212	3	,	,	PUNCT
fsr-3373	212	4	for	for	ADP
fsr-3373	212	5	2007	2007	NUM
fsr-3373	212	6	,	,	PUNCT
fsr-3373	212	7	the	the	DET
fsr-3373	212	8	2x	2x	NUM
fsr-3373	212	9	sso	sso	NOUN
fsr-3373	212	10	only	only	ADV
fsr-3373	212	11	returns	return	NOUN
fsr-3373	212	12	1.04	1.04	NUM
fsr-3373	212	13	%	%	NOUN
fsr-3373	212	14	compared	compare	VERB
fsr-3373	212	15	with	with	ADP
fsr-3373	212	16	spy	spy	NOUN
fsr-3373	212	17	’s	’s	PART
fsr-3373	212	18	5.14	5.14	NUM
fsr-3373	212	19	%	%	NOUN
fsr-3373	212	20	,	,	PUNCT
fsr-3373	212	21	although	although	SCONJ
fsr-3373	212	22	half	half	NOUN
fsr-3373	212	23	of	of	ADP
fsr-3373	212	24	the	the	DET
fsr-3373	212	25	4	4	NUM
fsr-3373	212	26	%	%	NOUN
fsr-3373	212	27	underperformance	underperformance	NOUN
fsr-3373	212	28	is	be	AUX
fsr-3373	212	29	because	because	SCONJ
fsr-3373	212	30	of	of	ADP
fsr-3373	212	31	the	the	DET
fsr-3373	212	32	large	large	ADJ
fsr-3373	212	33	tracking	tracking	NOUN
fsr-3373	212	34	error	error	NOUN
fsr-3373	212	35	this	this	DET
fsr-3373	212	36	fund	fund	NOUN
fsr-3373	212	37	had	have	VERB
fsr-3373	212	38	when	when	SCONJ
fsr-3373	212	39	first	first	ADV
fsr-3373	212	40	introduced	introduce	VERB
fsr-3373	212	41	.	.	PUNCT
fsr-3373	213	1	this	this	DET
fsr-3373	213	2	tracking	tracking	NOUN
fsr-3373	213	3	error	error	NOUN
fsr-3373	213	4	has	have	AUX
fsr-3373	213	5	not	not	PART
fsr-3373	213	6	been	be	AUX
fsr-3373	213	7	observed	observe	VERB
fsr-3373	213	8	since	since	ADV
fsr-3373	213	9	.	.	PUNCT
fsr-3373	214	1	furthermore	furthermore	ADV
fsr-3373	214	2	,	,	PUNCT
fsr-3373	214	3	2008	2008	NUM
fsr-3373	214	4	had	have	VERB
fsr-3373	214	5	the	the	DET
fsr-3373	214	6	next	next	ADJ
fsr-3373	214	7	largest	large	ADJ
fsr-3373	214	8	tracking	tracking	NOUN
fsr-3373	214	9	error	error	NOUN
fsr-3373	214	10	when	when	SCONJ
fsr-3373	214	11	sso	sso	PROPN
fsr-3373	214	12	returned	return	VERB
fsr-3373	214	13	�	�	PROPN
fsr-3373	214	14	67.94	67.94	NUM
fsr-3373	214	15	%	%	NOUN
fsr-3373	214	16	relative	relative	ADJ
fsr-3373	214	17	to	to	ADP
fsr-3373	214	18	the	the	DET
fsr-3373	214	19	predicted	predict	VERB
fsr-3373	214	20	�	�	PROPN
fsr-3373	214	21	67.06	67.06	NUM
fsr-3373	214	22	%	%	NOUN
fsr-3373	214	23	from	from	ADP
fsr-3373	214	24	eq	eq	NOUN
fsr-3373	214	25	.	.	PUNCT
fsr-3373	215	1	(	(	PUNCT
fsr-3373	215	2	2	2	NUM
fsr-3373	215	3	)	)	PUNCT
fsr-3373	215	4	.	.	PUNCT
fsr-3373	216	1	this	this	DET
fsr-3373	216	2	tracking	tracking	NOUN
fsr-3373	216	3	error	error	NOUN
fsr-3373	216	4	has	have	AUX
fsr-3373	216	5	continually	continually	ADV
fsr-3373	216	6	fallen	fall	VERB
fsr-3373	216	7	since	since	SCONJ
fsr-3373	216	8	then	then	ADV
fsr-3373	216	9	and	and	CCONJ
fsr-3373	216	10	over	over	ADP
fsr-3373	216	11	the	the	DET
fsr-3373	216	12	last	last	ADJ
fsr-3373	216	13	3	3	NUM
fsr-3373	216	14	years	year	NOUN
fsr-3373	216	15	has	have	AUX
fsr-3373	216	16	been	be	AUX
fsr-3373	216	17	less	less	ADJ
fsr-3373	216	18	than	than	ADP
fsr-3373	216	19	0.1	0.1	NUM
fsr-3373	216	20	%	%	NOUN
fsr-3373	216	21	on	on	ADP
fsr-3373	216	22	an	an	DET
fsr-3373	216	23	annual	annual	ADJ
fsr-3373	216	24	basis	basis	NOUN
fsr-3373	216	25	.	.	PUNCT
fsr-3373	217	1	table	table	NOUN
fsr-3373	217	2	5	5	NUM
fsr-3373	217	3	cppi	cppi	NOUN
fsr-3373	217	4	annual	annual	ADJ
fsr-3373	217	5	returns	return	NOUN
fsr-3373	217	6	based	base	VERB
fsr-3373	217	7	on	on	ADP
fsr-3373	217	8	spy	spy	NOUN
fsr-3373	217	9	and	and	CCONJ
fsr-3373	217	10	proshares	proshare	VERB
fsr-3373	217	11	2x	2x	NUM
fsr-3373	217	12	sso	sso	NOUN
fsr-3373	217	13	letf	letf	NOUN
fsr-3373	217	14	from	from	ADP
fsr-3373	217	15	2007–2016	2007–2016	NUM
fsr-3373	217	16	year	year	NOUN
fsr-3373	217	17	1	1	NUM
fsr-3373	217	18	-	-	PUNCT
fsr-3373	217	19	year	year	NOUN
fsr-3373	217	20	t	t	PROPN
fsr-3373	217	21	-	-	PUNCT
fsr-3373	217	22	bill	bill	NOUN
fsr-3373	217	23	spy	spy	NOUN
fsr-3373	217	24	sso	sso	NOUN
fsr-3373	217	25	2x	2x	NUM
fsr-3373	217	26	cppi	cppi	PROPN
fsr-3373	217	27	s&p	s&p	PROPN
fsr-3373	217	28	cppi	cppi	NOUN
fsr-3373	217	29	2x	2x	NUM
fsr-3373	217	30	cppi	cppi	PROPN
fsr-3373	217	31	s&p	s&p	PROPN
fsr-3373	217	32	w	w	PROPN
fsr-3373	217	33	/	/	SYM
fsr-3373	217	34	agg	agg	PROPN
fsr-3373	217	35	cppi	cppi	NOUN
fsr-3373	217	36	2x	2x	NUM
fsr-3373	217	37	w	w	PROPN
fsr-3373	217	38	/	/	SYM
fsr-3373	217	39	agg	agg	PROPN
fsr-3373	217	40	2007	2007	NUM
fsr-3373	217	41	5.94	5.94	NUM
fsr-3373	217	42	%	%	NOUN
fsr-3373	217	43	5.14	5.14	NUM
fsr-3373	217	44	%	%	NOUN
fsr-3373	217	45	1.04	1.04	NUM
fsr-3373	217	46	%	%	NOUN
fsr-3373	217	47	2.45	2.45	NUM
fsr-3373	217	48	%	%	NOUN
fsr-3373	217	49	2.26	2.26	NUM
fsr-3373	217	50	%	%	NOUN
fsr-3373	217	51	2.92	2.92	NUM
fsr-3373	217	52	%	%	NOUN
fsr-3373	217	53	3.23	3.23	NUM
fsr-3373	217	54	%	%	NOUN
fsr-3373	217	55	2008	2008	NUM
fsr-3373	217	56	4.60	4.60	NUM
fsr-3373	217	57	%	%	NOUN
fsr-3373	217	58	�	�	NOUN
fsr-3373	217	59	36.81	36.81	NUM
fsr-3373	217	60	%	%	NOUN
fsr-3373	217	61	�	�	NOUN
fsr-3373	217	62	67.94	67.94	NUM
fsr-3373	217	63	%	%	NOUN
fsr-3373	217	64	�	�	PROPN
fsr-3373	217	65	8.62	8.62	NUM
fsr-3373	217	66	%	%	NOUN
fsr-3373	217	67	�	�	PROPN
fsr-3373	217	68	8.60	8.60	NUM
fsr-3373	217	69	%	%	NOUN
fsr-3373	217	70	�	�	NOUN
fsr-3373	217	71	2.94	2.94	NUM
fsr-3373	217	72	%	%	NOUN
fsr-3373	217	73	�	�	PROPN
fsr-3373	217	74	2.51	2.51	NUM
fsr-3373	217	75	%	%	NOUN
fsr-3373	217	76	2009	2009	NUM
fsr-3373	217	77	0.56	0.56	NUM
fsr-3373	217	78	%	%	NOUN
fsr-3373	217	79	26.37	26.37	NUM
fsr-3373	217	80	%	%	NOUN
fsr-3373	217	81	47.26	47.26	NUM
fsr-3373	217	82	%	%	NOUN
fsr-3373	217	83	8.25	8.25	NUM
fsr-3373	217	84	%	%	NOUN
fsr-3373	217	85	8.13	8.13	NUM
fsr-3373	217	86	%	%	NOUN
fsr-3373	217	87	9.70	9.70	NUM
fsr-3373	217	88	%	%	NOUN
fsr-3373	217	89	10.58	10.58	NUM
fsr-3373	217	90	%	%	NOUN
fsr-3373	217	91	2010	2010	NUM
fsr-3373	217	92	0.55	0.55	NUM
fsr-3373	217	93	%	%	NOUN
fsr-3373	217	94	15.06	15.06	NUM
fsr-3373	217	95	%	%	NOUN
fsr-3373	217	96	26.84	26.84	NUM
fsr-3373	217	97	%	%	NOUN
fsr-3373	217	98	5.81	5.81	NUM
fsr-3373	217	99	%	%	NOUN
fsr-3373	217	100	5.66	5.66	NUM
fsr-3373	217	101	%	%	NOUN
fsr-3373	217	102	11.37	11.37	NUM
fsr-3373	217	103	%	%	NOUN
fsr-3373	217	104	13.70	13.70	NUM
fsr-3373	217	105	%	%	NOUN
fsr-3373	217	106	2011	2011	NUM
fsr-3373	217	107	0.37	0.37	NUM
fsr-3373	217	108	%	%	NOUN
fsr-3373	217	109	1.89	1.89	NUM
fsr-3373	217	110	%	%	NOUN
fsr-3373	217	111	�	�	NOUN
fsr-3373	217	112	2.92	2.92	NUM
fsr-3373	217	113	%	%	NOUN
fsr-3373	217	114	�	�	NOUN
fsr-3373	217	115	3.40	3.40	NUM
fsr-3373	217	116	%	%	NOUN
fsr-3373	217	117	�	�	PROPN
fsr-3373	217	118	3.58	3.58	NUM
fsr-3373	217	119	%	%	NOUN
fsr-3373	217	120	�	�	NOUN
fsr-3373	217	121	1.06	1.06	NUM
fsr-3373	217	122	%	%	NOUN
fsr-3373	217	123	0.40	0.40	NUM
fsr-3373	217	124	%	%	NOUN
fsr-3373	217	125	2012	2012	NUM
fsr-3373	217	126	0.16	0.16	NUM
fsr-3373	217	127	%	%	NOUN
fsr-3373	217	128	15.99	15.99	NUM
fsr-3373	217	129	%	%	NOUN
fsr-3373	217	130	31.04	31.04	NUM
fsr-3373	217	131	%	%	NOUN
fsr-3373	217	132	8.04	8.04	NUM
fsr-3373	217	133	%	%	NOUN
fsr-3373	217	134	7.64	7.64	NUM
fsr-3373	217	135	%	%	NOUN
fsr-3373	217	136	9.33	9.33	NUM
fsr-3373	217	137	%	%	NOUN
fsr-3373	217	138	10.68	10.68	NUM
fsr-3373	217	139	%	%	NOUN
fsr-3373	217	140	2013	2013	NUM
fsr-3373	217	141	0.34	0.34	NUM
fsr-3373	217	142	%	%	NOUN
fsr-3373	217	143	32.31	32.31	NUM
fsr-3373	217	144	%	%	NOUN
fsr-3373	217	145	70.47	70.47	NUM
fsr-3373	217	146	%	%	NOUN
fsr-3373	217	147	23.66	23.66	NUM
fsr-3373	217	148	%	%	NOUN
fsr-3373	217	149	22.92	22.92	NUM
fsr-3373	217	150	%	%	NOUN
fsr-3373	217	151	23.10	23.10	NUM
fsr-3373	217	152	%	%	NOUN
fsr-3373	217	153	20.34	20.34	NUM
fsr-3373	217	154	%	%	NOUN
fsr-3373	217	155	2014	2014	NUM
fsr-3373	217	156	0.24	0.24	NUM
fsr-3373	217	157	%	%	NOUN
fsr-3373	217	158	13.46	13.46	NUM
fsr-3373	217	159	%	%	NOUN
fsr-3373	217	160	25.53	25.53	NUM
fsr-3373	217	161	%	%	NOUN
fsr-3373	217	162	6.25	6.25	NUM
fsr-3373	217	163	%	%	NOUN
fsr-3373	217	164	5.81	5.81	NUM
fsr-3373	217	165	%	%	NOUN
fsr-3373	217	166	9.77	9.77	NUM
fsr-3373	217	167	%	%	NOUN
fsr-3373	217	168	12.08	12.08	NUM
fsr-3373	217	169	%	%	NOUN
fsr-3373	217	170	2015	2015	NUM
fsr-3373	217	171	0.16	0.16	NUM
fsr-3373	217	172	%	%	NOUN
fsr-3373	217	173	1.25	1.25	NUM
fsr-3373	217	174	%	%	NOUN
fsr-3373	217	175	�	�	NOUN
fsr-3373	217	176	1.19	1.19	NUM
fsr-3373	217	177	%	%	NOUN
fsr-3373	217	178	�	�	PROPN
fsr-3373	217	179	1.49	1.49	NUM
fsr-3373	217	180	%	%	NOUN
fsr-3373	217	181	�	�	NOUN
fsr-3373	217	182	1.79	1.79	NUM
fsr-3373	217	183	%	%	NOUN
fsr-3373	217	184	�	�	NOUN
fsr-3373	217	185	1.16	1.16	NUM
fsr-3373	217	186	%	%	NOUN
fsr-3373	217	187	�	�	PROPN
fsr-3373	217	188	1.36	1.36	NUM
fsr-3373	217	189	%	%	NOUN
fsr-3373	217	190	2016	2016	NUM
fsr-3373	217	191	0.76	0.76	NUM
fsr-3373	217	192	%	%	NOUN
fsr-3373	217	193	12.00	12.00	NUM
fsr-3373	217	194	%	%	NOUN
fsr-3373	217	195	21.55	21.55	NUM
fsr-3373	217	196	%	%	NOUN
fsr-3373	217	197	6.22	6.22	NUM
fsr-3373	217	198	%	%	NOUN
fsr-3373	217	199	6.03	6.03	NUM
fsr-3373	217	200	%	%	NOUN
fsr-3373	217	201	9.41	9.41	NUM
fsr-3373	217	202	%	%	NOUN
fsr-3373	217	203	9.89	9.89	NUM
fsr-3373	217	204	%	%	NOUN
fsr-3373	217	205	geo	geo	PROPN
fsr-3373	217	206	.	.	PROPN
fsr-3373	217	207	ann	ann	PROPN
fsr-3373	217	208	.	.	PUNCT
fsr-3373	218	1	ret	ret	PROPN
fsr-3373	218	2	.	.	PROPN
fsr-3373	219	1	1.35	1.35	NUM
fsr-3373	219	2	%	%	NOUN
fsr-3373	219	3	6.87	6.87	NUM
fsr-3373	219	4	%	%	NOUN
fsr-3373	219	5	7.06	7.06	NUM
fsr-3373	219	6	%	%	NOUN
fsr-3373	219	7	4.40	4.40	NUM
fsr-3373	219	8	%	%	NOUN
fsr-3373	219	9	4.15	4.15	NUM
fsr-3373	219	10	%	%	NOUN
fsr-3373	219	11	6.79	6.79	NUM
fsr-3373	219	12	%	%	NOUN
fsr-3373	219	13	7.47	7.47	NUM
fsr-3373	219	14	%	%	NOUN
fsr-3373	219	15	results	result	NOUN
fsr-3373	219	16	show	show	VERB
fsr-3373	219	17	annual	annual	ADJ
fsr-3373	219	18	returns	return	NOUN
fsr-3373	219	19	from	from	ADP
fsr-3373	219	20	2007	2007	NUM
fsr-3373	219	21	to	to	ADP
fsr-3373	219	22	2016	2016	NUM
fsr-3373	219	23	for	for	ADP
fsr-3373	219	24	the	the	DET
fsr-3373	219	25	s&p	s&p	PROPN
fsr-3373	219	26	500	500	NUM
fsr-3373	219	27	spy	spy	NOUN
fsr-3373	219	28	,	,	PUNCT
fsr-3373	219	29	the	the	DET
fsr-3373	219	30	s&p	s&p	PROPN
fsr-3373	219	31	500	500	NUM
fsr-3373	219	32	2x	2x	NOUN
fsr-3373	219	33	(	(	PUNCT
fsr-3373	219	34	sso	sso	NOUN
fsr-3373	219	35	)	)	PUNCT
fsr-3373	219	36	,	,	PUNCT
fsr-3373	219	37	along	along	ADP
fsr-3373	219	38	with	with	ADP
fsr-3373	219	39	constant	constant	ADJ
fsr-3373	219	40	proportional	proportional	ADJ
fsr-3373	219	41	portfolio	portfolio	NOUN
fsr-3373	219	42	insurance	insurance	NOUN
fsr-3373	219	43	(	(	PUNCT
fsr-3373	219	44	cppi	cppi	NOUN
fsr-3373	219	45	)	)	PUNCT
fsr-3373	219	46	strategies	strategy	NOUN
fsr-3373	219	47	using	use	VERB
fsr-3373	219	48	the	the	DET
fsr-3373	219	49	s&p	s&p	PROPN
fsr-3373	219	50	and	and	CCONJ
fsr-3373	219	51	s&p	s&p	PROPN
fsr-3373	219	52	2x	2x	NUM
fsr-3373	219	53	.	.	PUNCT
fsr-3373	220	1	the	the	DET
fsr-3373	220	2	last	last	ADJ
fsr-3373	220	3	two	two	NUM
fsr-3373	220	4	columns	column	NOUN
fsr-3373	220	5	replace	replace	VERB
fsr-3373	220	6	the	the	DET
fsr-3373	220	7	one	one	NUM
fsr-3373	220	8	-	-	PUNCT
fsr-3373	220	9	year	year	NOUN
fsr-3373	220	10	t	t	NOUN
fsr-3373	220	11	-	-	PUNCT
fsr-3373	220	12	bill	bill	NOUN
fsr-3373	220	13	with	with	ADP
fsr-3373	220	14	ishares	ishares	PROPN
fsr-3373	220	15	agg	agg	PROPN
fsr-3373	220	16	aggregate	aggregate	ADJ
fsr-3373	220	17	bond	bond	NOUN
fsr-3373	220	18	portfolio	portfolio	NOUN
fsr-3373	220	19	within	within	ADP
fsr-3373	220	20	the	the	DET
fsr-3373	220	21	cppi	cppi	NOUN
fsr-3373	220	22	portfolios	portfolio	NOUN
fsr-3373	220	23	.	.	PUNCT
fsr-3373	221	1	396	396	NUM
fsr-3373	221	2	j.	j.	PROPN
fsr-3373	221	3	george	george	PROPN
fsr-3373	221	4	,	,	PUNCT
fsr-3373	221	5	w.j	w.j	PROPN
fsr-3373	221	6	.	.	PROPN
fsr-3373	221	7	trainor	trainor	PROPN
fsr-3373	221	8	/	/	SYM
fsr-3373	221	9	financial	financial	ADJ
fsr-3373	221	10	services	service	NOUN
fsr-3373	221	11	review	review	VERB
fsr-3373	221	12	26	26	NUM
fsr-3373	221	13	(	(	PUNCT
fsr-3373	221	14	2017	2017	NUM
fsr-3373	221	15	)	)	PUNCT
fsr-3373	221	16	387–403	387–403	NUM
fsr-3373	221	17	it	it	PRON
fsr-3373	221	18	is	be	AUX
fsr-3373	221	19	also	also	ADV
fsr-3373	221	20	interesting	interesting	ADJ
fsr-3373	221	21	to	to	PART
fsr-3373	221	22	note	note	VERB
fsr-3373	221	23	that	that	SCONJ
fsr-3373	221	24	both	both	DET
fsr-3373	221	25	cppi	cppi	NOUN
fsr-3373	221	26	strategies	strategy	NOUN
fsr-3373	221	27	lost	lose	VERB
fsr-3373	221	28	money	money	NOUN
fsr-3373	221	29	in	in	ADP
fsr-3373	221	30	2011	2011	NUM
fsr-3373	221	31	and	and	CCONJ
fsr-3373	221	32	2015	2015	NUM
fsr-3373	221	33	even	even	ADV
fsr-3373	221	34	though	though	SCONJ
fsr-3373	221	35	the	the	DET
fsr-3373	221	36	spy	spy	NOUN
fsr-3373	221	37	was	be	AUX
fsr-3373	221	38	slightly	slightly	ADV
fsr-3373	221	39	positive	positive	ADJ
fsr-3373	221	40	,	,	PUNCT
fsr-3373	221	41	1.89	1.89	NUM
fsr-3373	221	42	%	%	NOUN
fsr-3373	221	43	and	and	CCONJ
fsr-3373	221	44	1.15	1.15	NUM
fsr-3373	221	45	%	%	NOUN
fsr-3373	221	46	,	,	PUNCT
fsr-3373	221	47	respectively	respectively	ADV
fsr-3373	221	48	.	.	PUNCT
fsr-3373	222	1	this	this	PRON
fsr-3373	222	2	occurs	occur	VERB
fsr-3373	222	3	because	because	SCONJ
fsr-3373	222	4	cppi	cppi	NOUN
fsr-3373	222	5	strategies	strategy	NOUN
fsr-3373	222	6	are	be	AUX
fsr-3373	222	7	reactionary	reactionary	ADJ
fsr-3373	222	8	.	.	PUNCT
fsr-3373	223	1	when	when	SCONJ
fsr-3373	223	2	the	the	DET
fsr-3373	223	3	market	market	NOUN
fsr-3373	223	4	falls	fall	VERB
fsr-3373	223	5	,	,	PUNCT
fsr-3373	223	6	the	the	DET
fsr-3373	223	7	percentage	percentage	NOUN
fsr-3373	223	8	of	of	ADP
fsr-3373	223	9	the	the	DET
fsr-3373	223	10	portfolio	portfolio	NOUN
fsr-3373	223	11	in	in	ADP
fsr-3373	223	12	equities	equity	NOUN
fsr-3373	223	13	is	be	AUX
fsr-3373	223	14	reduced	reduce	VERB
fsr-3373	223	15	.	.	PUNCT
fsr-3373	224	1	when	when	SCONJ
fsr-3373	224	2	it	it	PRON
fsr-3373	224	3	bounces	bounce	VERB
fsr-3373	224	4	back	back	ADV
fsr-3373	224	5	,	,	PUNCT
fsr-3373	224	6	there	there	PRON
fsr-3373	224	7	is	be	VERB
fsr-3373	224	8	less	less	ADJ
fsr-3373	224	9	wealth	wealth	NOUN
fsr-3373	224	10	in	in	ADP
fsr-3373	224	11	the	the	DET
fsr-3373	224	12	portfolio	portfolio	NOUN
fsr-3373	224	13	to	to	PART
fsr-3373	224	14	regain	regain	VERB
fsr-3373	224	15	the	the	DET
fsr-3373	224	16	losses	loss	NOUN
fsr-3373	224	17	.	.	PUNCT
fsr-3373	225	1	similarly	similarly	ADV
fsr-3373	225	2	,	,	PUNCT
fsr-3373	225	3	if	if	SCONJ
fsr-3373	225	4	the	the	DET
fsr-3373	225	5	market	market	NOUN
fsr-3373	225	6	increases	increase	VERB
fsr-3373	225	7	(	(	PUNCT
fsr-3373	225	8	more	more	ADJ
fsr-3373	225	9	is	be	AUX
fsr-3373	225	10	allocated	allocate	VERB
fsr-3373	225	11	to	to	ADP
fsr-3373	225	12	equities	equity	NOUN
fsr-3373	225	13	)	)	PUNCT
fsr-3373	225	14	then	then	ADV
fsr-3373	225	15	decreases	decrease	VERB
fsr-3373	225	16	.	.	PUNCT
fsr-3373	226	1	thus	thus	ADV
fsr-3373	226	2	,	,	PUNCT
fsr-3373	226	3	cppi	cppi	NOUN
fsr-3373	226	4	strategies	strategy	NOUN
fsr-3373	226	5	tend	tend	VERB
fsr-3373	226	6	to	to	PART
fsr-3373	226	7	do	do	VERB
fsr-3373	226	8	poorly	poorly	ADV
fsr-3373	226	9	in	in	ADP
fsr-3373	226	10	volatile	volatile	ADJ
fsr-3373	226	11	flat	flat	ADJ
fsr-3373	226	12	markets	market	NOUN
fsr-3373	226	13	.	.	PUNCT
fsr-3373	227	1	the	the	DET
fsr-3373	227	2	same	same	ADJ
fsr-3373	227	3	holds	hold	VERB
fsr-3373	227	4	true	true	ADJ
fsr-3373	227	5	for	for	ADP
fsr-3373	227	6	letfs	letfs	PROPN
fsr-3373	227	7	because	because	SCONJ
fsr-3373	227	8	of	of	ADP
fsr-3373	227	9	their	their	PRON
fsr-3373	227	10	daily	daily	ADJ
fsr-3373	227	11	rebalancing	rebalancing	NOUN
fsr-3373	227	12	.	.	PUNCT
fsr-3373	228	1	in	in	ADP
fsr-3373	228	2	fact	fact	NOUN
fsr-3373	228	3	,	,	PUNCT
fsr-3373	228	4	the	the	DET
fsr-3373	228	5	sso	sso	NOUN
fsr-3373	228	6	2x	2x	PRON
fsr-3373	228	7	lost	lose	VERB
fsr-3373	228	8	money	money	NOUN
fsr-3373	228	9	both	both	CCONJ
fsr-3373	228	10	in	in	ADP
fsr-3373	228	11	2011	2011	NUM
fsr-3373	228	12	and	and	CCONJ
fsr-3373	228	13	2015	2015	NUM
fsr-3373	228	14	despite	despite	SCONJ
fsr-3373	228	15	the	the	DET
fsr-3373	228	16	market	market	NOUN
fsr-3373	228	17	increasing	increase	VERB
fsr-3373	228	18	.	.	PUNCT
fsr-3373	229	1	this	this	PRON
fsr-3373	229	2	is	be	AUX
fsr-3373	229	3	a	a	DET
fsr-3373	229	4	perfect	perfect	ADJ
fsr-3373	229	5	demonstration	demonstration	NOUN
fsr-3373	229	6	of	of	ADP
fsr-3373	229	7	letf	letf	NOUN
fsr-3373	229	8	’s	’s	PART
fsr-3373	229	9	return	return	NOUN
fsr-3373	229	10	decay	decay	NOUN
fsr-3373	229	11	.	.	PUNCT
fsr-3373	230	1	for	for	ADP
fsr-3373	230	2	the	the	DET
fsr-3373	230	3	less	less	ADJ
fsr-3373	230	4	risk	risk	NOUN
fsr-3373	230	5	averse	averse	ADJ
fsr-3373	230	6	,	,	PUNCT
fsr-3373	230	7	table	table	NOUN
fsr-3373	230	8	5	5	NUM
fsr-3373	230	9	shows	show	VERB
fsr-3373	230	10	one	one	NUM
fsr-3373	230	11	alternative	alternative	NOUN
fsr-3373	230	12	to	to	ADP
fsr-3373	230	13	overcoming	overcome	VERB
fsr-3373	230	14	extremely	extremely	ADV
fsr-3373	230	15	low	low	ADJ
fsr-3373	230	16	interest	interest	NOUN
fsr-3373	230	17	rates	rate	NOUN
fsr-3373	230	18	.	.	PUNCT
fsr-3373	231	1	the	the	DET
fsr-3373	231	2	last	last	ADJ
fsr-3373	231	3	two	two	NUM
fsr-3373	231	4	columns	column	NOUN
fsr-3373	231	5	show	show	VERB
fsr-3373	231	6	cppi	cppi	NOUN
fsr-3373	231	7	returns	return	NOUN
fsr-3373	231	8	by	by	ADP
fsr-3373	231	9	combining	combine	VERB
fsr-3373	231	10	a	a	DET
fsr-3373	231	11	composite	composite	ADJ
fsr-3373	231	12	bond	bond	NOUN
fsr-3373	231	13	etf	etf	NOUN
fsr-3373	231	14	within	within	ADP
fsr-3373	231	15	a	a	DET
fsr-3373	231	16	cppi	cppi	NOUN
fsr-3373	231	17	strategy	strategy	NOUN
fsr-3373	231	18	.	.	PUNCT
fsr-3373	232	1	instead	instead	ADV
fsr-3373	232	2	of	of	ADP
fsr-3373	232	3	using	use	VERB
fsr-3373	232	4	the	the	DET
fsr-3373	232	5	one	one	NUM
fsr-3373	232	6	-	-	PUNCT
fsr-3373	232	7	year	year	NOUN
fsr-3373	232	8	treasury	treasury	NOUN
fsr-3373	232	9	from	from	ADP
fsr-3373	232	10	2007	2007	NUM
fsr-3373	232	11	to	to	ADP
fsr-3373	232	12	2016	2016	NUM
fsr-3373	232	13	,	,	PUNCT
fsr-3373	232	14	ishares	ishares	PROPN
fsr-3373	232	15	agg	agg	PROPN
fsr-3373	232	16	bond	bond	NOUN
fsr-3373	232	17	etf	etf	NOUN
fsr-3373	232	18	is	be	AUX
fsr-3373	232	19	used	use	VERB
fsr-3373	232	20	as	as	ADP
fsr-3373	232	21	a	a	DET
fsr-3373	232	22	proxy	proxy	NOUN
fsr-3373	232	23	for	for	ADP
fsr-3373	232	24	a	a	DET
fsr-3373	232	25	relatively	relatively	ADV
fsr-3373	232	26	safe	safe	ADJ
fsr-3373	232	27	asset	asset	NOUN
fsr-3373	232	28	with	with	ADP
fsr-3373	232	29	higher	high	ADJ
fsr-3373	232	30	expected	expect	VERB
fsr-3373	232	31	returns	return	NOUN
fsr-3373	232	32	.	.	PUNCT
fsr-3373	233	1	both	both	DET
fsr-3373	233	2	cppi	cppi	NOUN
fsr-3373	233	3	strategies	strategy	NOUN
fsr-3373	233	4	show	show	VERB
fsr-3373	233	5	improvement	improvement	NOUN
fsr-3373	233	6	and	and	CCONJ
fsr-3373	233	7	the	the	DET
fsr-3373	233	8	letf	letf	ADJ
fsr-3373	233	9	cppi	cppi	NOUN
fsr-3373	233	10	outperforms	outperform	VERB
fsr-3373	233	11	the	the	DET
fsr-3373	233	12	standard	standard	ADJ
fsr-3373	233	13	cppi	cppi	NOUN
fsr-3373	233	14	except	except	SCONJ
fsr-3373	233	15	for	for	ADP
fsr-3373	233	16	2013	2013	NUM
fsr-3373	233	17	and	and	CCONJ
fsr-3373	233	18	is	be	AUX
fsr-3373	233	19	only	only	ADV
fsr-3373	233	20	slightly	slightly	ADV
fsr-3373	233	21	worse	bad	ADJ
fsr-3373	233	22	in	in	ADP
fsr-3373	233	23	2015	2015	NUM
fsr-3373	233	24	.	.	PUNCT
fsr-3373	234	1	in	in	ADP
fsr-3373	234	2	2013	2013	NUM
fsr-3373	234	3	,	,	PUNCT
fsr-3373	234	4	both	both	DET
fsr-3373	234	5	cppi	cppi	NOUN
fsr-3373	234	6	strategies	strategy	NOUN
fsr-3373	234	7	using	use	VERB
fsr-3373	234	8	the	the	DET
fsr-3373	234	9	ishares	ishares	NOUN
fsr-3373	234	10	bond	bond	PROPN
fsr-3373	234	11	etf	etf	NOUN
fsr-3373	234	12	underperform	underperform	NOUN
fsr-3373	234	13	cppi	cppi	NOUN
fsr-3373	234	14	strategies	strategy	NOUN
fsr-3373	234	15	using	use	VERB
fsr-3373	234	16	the	the	DET
fsr-3373	234	17	one	one	NUM
fsr-3373	234	18	-	-	PUNCT
fsr-3373	234	19	year	year	NOUN
fsr-3373	234	20	treasury	treasury	NOUN
fsr-3373	234	21	.	.	PUNCT
fsr-3373	235	1	this	this	PRON
fsr-3373	235	2	is	be	AUX
fsr-3373	235	3	because	because	SCONJ
fsr-3373	235	4	of	of	ADP
fsr-3373	235	5	the	the	DET
fsr-3373	235	6	�	�	PROPN
fsr-3373	235	7	1.98	1.98	NUM
fsr-3373	235	8	%	%	NOUN
fsr-3373	235	9	return	return	NOUN
fsr-3373	235	10	the	the	DET
fsr-3373	235	11	ishares	ishares	PROPN
fsr-3373	235	12	bond	bond	PROPN
fsr-3373	235	13	etf	etf	PROPN
fsr-3373	235	14	experienced	experience	VERB
fsr-3373	235	15	that	that	DET
fsr-3373	235	16	year	year	NOUN
fsr-3373	235	17	.	.	PUNCT
fsr-3373	236	1	it	it	PRON
fsr-3373	236	2	was	be	AUX
fsr-3373	236	3	the	the	DET
fsr-3373	236	4	only	only	ADJ
fsr-3373	236	5	negative	negative	ADJ
fsr-3373	236	6	year	year	NOUN
fsr-3373	236	7	for	for	ADP
fsr-3373	236	8	the	the	DET
fsr-3373	236	9	aggregate	aggregate	ADJ
fsr-3373	236	10	bond	bond	NOUN
fsr-3373	236	11	fund	fund	NOUN
fsr-3373	236	12	,	,	PUNCT
fsr-3373	236	13	but	but	CCONJ
fsr-3373	236	14	highlights	highlight	VERB
fsr-3373	236	15	the	the	DET
fsr-3373	236	16	fact	fact	NOUN
fsr-3373	236	17	that	that	SCONJ
fsr-3373	236	18	increasing	increase	VERB
fsr-3373	236	19	expected	expect	VERB
fsr-3373	236	20	return	return	NOUN
fsr-3373	236	21	,	,	PUNCT
fsr-3373	236	22	even	even	ADV
fsr-3373	236	23	with	with	ADP
fsr-3373	236	24	a	a	DET
fsr-3373	236	25	relatively	relatively	ADV
fsr-3373	236	26	safe	safe	ADJ
fsr-3373	236	27	bond	bond	NOUN
fsr-3373	236	28	fund	fund	NOUN
fsr-3373	236	29	,	,	PUNCT
fsr-3373	236	30	does	do	AUX
fsr-3373	236	31	have	have	AUX
fsr-3373	236	32	risks	risk	NOUN
fsr-3373	236	33	.	.	PUNCT
fsr-3373	237	1	4.2	4.2	NUM
fsr-3373	237	2	.	.	PUNCT
fsr-3373	237	3	bootstrapped	bootstrappe	VERB
fsr-3373	237	4	results	result	NOUN
fsr-3373	237	5	to	to	PART
fsr-3373	237	6	check	check	VERB
fsr-3373	237	7	on	on	ADP
fsr-3373	237	8	the	the	DET
fsr-3373	237	9	robustness	robustness	NOUN
fsr-3373	237	10	of	of	ADP
fsr-3373	237	11	the	the	DET
fsr-3373	237	12	data	datum	NOUN
fsr-3373	237	13	,	,	PUNCT
fsr-3373	237	14	the	the	DET
fsr-3373	237	15	historical	historical	ADJ
fsr-3373	237	16	data	datum	NOUN
fsr-3373	237	17	are	be	AUX
fsr-3373	237	18	blocked	block	VERB
fsr-3373	237	19	bootstrapped	bootstrappe	VERB
fsr-3373	237	20	by	by	ADP
fsr-3373	237	21	sampling	sample	VERB
fsr-3373	237	22	252	252	NUM
fsr-3373	237	23	-	-	PUNCT
fsr-3373	237	24	day	day	NOUN
fsr-3373	237	25	trading	trading	NOUN
fsr-3373	237	26	periods	period	NOUN
fsr-3373	237	27	to	to	PART
fsr-3373	237	28	create	create	VERB
fsr-3373	237	29	10,000	10,000	NUM
fsr-3373	237	30	annual	annual	ADJ
fsr-3373	237	31	returns	return	NOUN
fsr-3373	237	32	to	to	PART
fsr-3373	237	33	remove	remove	VERB
fsr-3373	237	34	any	any	DET
fsr-3373	237	35	bias	bias	NOUN
fsr-3373	237	36	from	from	ADP
fsr-3373	237	37	the	the	DET
fsr-3373	237	38	january	january	PROPN
fsr-3373	237	39	to	to	ADP
fsr-3373	237	40	january	january	PROPN
fsr-3373	237	41	annual	annual	ADJ
fsr-3373	237	42	returns	return	NOUN
fsr-3373	237	43	that	that	PRON
fsr-3373	237	44	may	may	AUX
fsr-3373	237	45	have	have	AUX
fsr-3373	237	46	favored	favor	VERB
fsr-3373	237	47	one	one	NUM
fsr-3373	237	48	method	method	NOUN
fsr-3373	237	49	or	or	CCONJ
fsr-3373	237	50	another	another	PRON
fsr-3373	237	51	.	.	PUNCT
fsr-3373	238	1	in	in	ADP
fsr-3373	238	2	addition	addition	NOUN
fsr-3373	238	3	,	,	PUNCT
fsr-3373	238	4	this	this	PRON
fsr-3373	238	5	will	will	AUX
fsr-3373	238	6	hopefully	hopefully	ADV
fsr-3373	238	7	encompass	encompass	VERB
fsr-3373	238	8	most	most	ADJ
fsr-3373	238	9	future	future	ADJ
fsr-3373	238	10	possibilities	possibility	NOUN
fsr-3373	238	11	while	while	SCONJ
fsr-3373	238	12	maintaining	maintain	VERB
fsr-3373	238	13	the	the	DET
fsr-3373	238	14	relationship	relationship	NOUN
fsr-3373	238	15	between	between	ADP
fsr-3373	238	16	interest	interest	NOUN
fsr-3373	238	17	rates	rate	NOUN
fsr-3373	238	18	and	and	CCONJ
fsr-3373	238	19	returns	return	NOUN
fsr-3373	238	20	along	along	ADP
fsr-3373	238	21	with	with	ADP
fsr-3373	238	22	systemic	systemic	ADJ
fsr-3373	238	23	low	low	ADJ
fsr-3373	238	24	or	or	CCONJ
fsr-3373	238	25	high	high	ADJ
fsr-3373	238	26	interest	interest	NOUN
fsr-3373	238	27	rate	rate	NOUN
fsr-3373	238	28	environments	environment	NOUN
fsr-3373	238	29	that	that	PRON
fsr-3373	238	30	may	may	AUX
fsr-3373	238	31	be	be	AUX
fsr-3373	238	32	experienced	experience	VERB
fsr-3373	238	33	.	.	PUNCT
fsr-3373	239	1	table	table	NOUN
fsr-3373	239	2	6	6	NUM
fsr-3373	239	3	shows	show	VERB
fsr-3373	239	4	the	the	DET
fsr-3373	239	5	results	result	NOUN
fsr-3373	239	6	.	.	PUNCT
fsr-3373	240	1	table	table	NOUN
fsr-3373	240	2	6	6	NUM
fsr-3373	240	3	bootstrapped	bootstrappe	VERB
fsr-3373	240	4	annual	annual	ADJ
fsr-3373	240	5	returns	return	NOUN
fsr-3373	240	6	for	for	ADP
fsr-3373	240	7	the	the	DET
fsr-3373	240	8	underlying	underlie	VERB
fsr-3373	240	9	indexes	index	NOUN
fsr-3373	240	10	and	and	CCONJ
fsr-3373	240	11	cppi	cppi	NOUN
fsr-3373	240	12	portfolios	portfolio	NOUN
fsr-3373	240	13	s&p	s&p	PROPN
fsr-3373	240	14	s&p	s&p	PROPN
fsr-3373	240	15	2x	2x	NUM
fsr-3373	240	16	s&p	s&p	PROPN
fsr-3373	240	17	3x	3x	PROPN
fsr-3373	240	18	s&p	s&p	PROPN
fsr-3373	240	19	4x	4x	NUM
fsr-3373	240	20	cppi	cppi	PROPN
fsr-3373	240	21	s&p	s&p	PROPN
fsr-3373	240	22	cppi	cppi	NOUN
fsr-3373	240	23	2x	2x	NUM
fsr-3373	240	24	cppi	cppi	NOUN
fsr-3373	240	25	3x	3x	NUM
fsr-3373	240	26	cppi	cppi	PROPN
fsr-3373	240	27	4x	4x	NOUN
fsr-3373	240	28	average	average	ADJ
fsr-3373	240	29	12.31	12.31	NUM
fsr-3373	240	30	%	%	NOUN
fsr-3373	240	31	21.60%b	21.60%b	NUM
fsr-3373	240	32	33.30%b	33.30%b	NUM
fsr-3373	240	33	46.41%b	46.41%b	PROPN
fsr-3373	240	34	10.07	10.07	NUM
fsr-3373	240	35	%	%	NOUN
fsr-3373	240	36	10.59	10.59	NUM
fsr-3373	240	37	%	%	NOUN
fsr-3373	240	38	11.09%a	11.09%a	NUM
fsr-3373	240	39	11.39%a	11.39%a	NUM
fsr-3373	240	40	standard	standard	ADJ
fsr-3373	240	41	deviation	deviation	NOUN
fsr-3373	240	42	16.72	16.72	NUM
fsr-3373	240	43	%	%	NOUN
fsr-3373	240	44	35.68	35.68	NUM
fsr-3373	240	45	%	%	NOUN
fsr-3373	240	46	57.99	57.99	NUM
fsr-3373	240	47	%	%	NOUN
fsr-3373	240	48	84.45	84.45	NUM
fsr-3373	240	49	%	%	NOUN
fsr-3373	240	50	11.88	11.88	NUM
fsr-3373	240	51	%	%	NOUN
fsr-3373	240	52	12.40	12.40	NUM
fsr-3373	240	53	%	%	NOUN
fsr-3373	240	54	12.74	12.74	NUM
fsr-3373	240	55	%	%	NOUN
fsr-3373	240	56	12.93	12.93	NUM
fsr-3373	240	57	%	%	NOUN
fsr-3373	240	58	median	median	NOUN
fsr-3373	240	59	12.97	12.97	NUM
fsr-3373	240	60	%	%	NOUN
fsr-3373	240	61	21.22	21.22	NUM
fsr-3373	240	62	%	%	NOUN
fsr-3373	240	63	29.35	29.35	NUM
fsr-3373	240	64	%	%	NOUN
fsr-3373	240	65	35.74	35.74	NUM
fsr-3373	240	66	%	%	NOUN
fsr-3373	240	67	8.11	8.11	NUM
fsr-3373	240	68	%	%	NOUN
fsr-3373	240	69	8.36	8.36	NUM
fsr-3373	240	70	%	%	NOUN
fsr-3373	240	71	8.81	8.81	NUM
fsr-3373	240	72	%	%	NOUN
fsr-3373	240	73	9.06	9.06	NUM
fsr-3373	240	74	%	%	NOUN
fsr-3373	240	75	minimum	minimum	PROPN
fsr-3373	240	76	�	�	PROPN
fsr-3373	240	77	46.99	46.99	NUM
fsr-3373	240	78	%	%	NOUN
fsr-3373	240	79	�	�	NOUN
fsr-3373	240	80	77.09	77.09	NUM
fsr-3373	240	81	%	%	NOUN
fsr-3373	240	82	�	�	NOUN
fsr-3373	240	83	91.77	91.77	NUM
fsr-3373	240	84	%	%	NOUN
fsr-3373	240	85	�	�	NOUN
fsr-3373	240	86	97.60	97.60	NUM
fsr-3373	240	87	%	%	NOUN
fsr-3373	240	88	�	�	PROPN
fsr-3373	240	89	9.79	9.79	NUM
fsr-3373	240	90	%	%	NOUN
fsr-3373	240	91	�	�	PROPN
fsr-3373	240	92	9.79	9.79	NUM
fsr-3373	240	93	%	%	NOUN
fsr-3373	240	94	�	�	PROPN
fsr-3373	240	95	9.79	9.79	NUM
fsr-3373	240	96	%	%	NOUN
fsr-3373	240	97	�	�	PROPN
fsr-3373	240	98	9.79	9.79	NUM
fsr-3373	240	99	%	%	NOUN
fsr-3373	240	100	maximum	maximum	NOUN
fsr-3373	240	101	71.24	71.24	NUM
fsr-3373	240	102	%	%	NOUN
fsr-3373	240	103	175.88	175.88	NUM
fsr-3373	240	104	%	%	NOUN
fsr-3373	240	105	327.36	327.36	NUM
fsr-3373	240	106	%	%	NOUN
fsr-3373	240	107	530.57	530.57	NUM
fsr-3373	240	108	%	%	NOUN
fsr-3373	240	109	60.62	60.62	NUM
fsr-3373	240	110	%	%	NOUN
fsr-3373	240	111	66.33	66.33	NUM
fsr-3373	240	112	%	%	NOUN
fsr-3373	240	113	68.88	68.88	NUM
fsr-3373	240	114	%	%	NOUN
fsr-3373	240	115	70.19	70.19	NUM
fsr-3373	240	116	%	%	NOUN
fsr-3373	240	117	sharpe	sharpe	NOUN
fsr-3373	240	118	ratio	ratio	NOUN
fsr-3373	240	119	0.49	0.49	NUM
fsr-3373	240	120	0.49	0.49	NUM
fsr-3373	240	121	0.50	0.50	NUM
fsr-3373	240	122	0.50	0.50	NUM
fsr-3373	240	123	0.50	0.50	NUM
fsr-3373	240	124	0.52ab	0.52ab	NOUN
fsr-3373	240	125	0.54ab	0.54ab	X
fsr-3373	240	126	0.56ab	0.56ab	X
fsr-3373	240	127	sortino	sortino	NOUN
fsr-3373	240	128	0.95	0.95	NUM
fsr-3373	240	129	1.08	1.08	NUM
fsr-3373	240	130	1.29	1.29	NUM
fsr-3373	240	131	1.50	1.50	NUM
fsr-3373	240	132	1.37	1.37	NUM
fsr-3373	240	133	1.51	1.51	NUM
fsr-3373	240	134	1.66	1.66	NUM
fsr-3373	240	135	1.75	1.75	NUM
fsr-3373	240	136	var	var	NOUN
fsr-3373	240	137	5	5	NUM
fsr-3373	240	138	%	%	NOUN
fsr-3373	240	139	�	�	NOUN
fsr-3373	240	140	15.63	15.63	NUM
fsr-3373	240	141	%	%	NOUN
fsr-3373	240	142	�	�	NOUN
fsr-3373	240	143	34.94	34.94	NUM
fsr-3373	240	144	%	%	NOUN
fsr-3373	240	145	�	�	NOUN
fsr-3373	240	146	53.34	53.34	NUM
fsr-3373	240	147	%	%	NOUN
fsr-3373	240	148	�	�	NOUN
fsr-3373	240	149	70.40	70.40	NUM
fsr-3373	240	150	%	%	NOUN
fsr-3373	240	151	�	�	PROPN
fsr-3373	240	152	5.51%b	5.51%b	NOUN
fsr-3373	240	153	�	�	NOUN
fsr-3373	240	154	5.38%b	5.38%b	PROPN
fsr-3373	240	155	�	�	NOUN
fsr-3373	240	156	5.26%ab	5.26%ab	NUM
fsr-3373	240	157	�	�	NOUN
fsr-3373	240	158	5.17%ab	5.17%ab	NUM
fsr-3373	240	159	es	es	ADP
fsr-3373	240	160	�	�	PROPN
fsr-3373	240	161	25.53	25.53	NUM
fsr-3373	240	162	%	%	NOUN
fsr-3373	240	163	�	�	NOUN
fsr-3373	240	164	50.09	50.09	NUM
fsr-3373	240	165	%	%	NOUN
fsr-3373	240	166	�	�	PROPN
fsr-3373	240	167	68.56	68.56	NUM
fsr-3373	240	168	%	%	NOUN
fsr-3373	240	169	�	�	NOUN
fsr-3373	240	170	82.70	82.70	NUM
fsr-3373	240	171	%	%	NOUN
fsr-3373	240	172	�	�	PROPN
fsr-3373	240	173	7.40%b	7.40%b	PROPN
fsr-3373	240	174	�	�	PROPN
fsr-3373	240	175	7.32%b	7.32%b	NUM
fsr-3373	240	176	�	�	PROPN
fsr-3373	240	177	7.25%b	7.25%b	VERB
fsr-3373	240	178	�	�	NOUN
fsr-3373	240	179	7.20%b	7.20%b	NOUN
fsr-3373	240	180	omega	omega	NOUN
fsr-3373	240	181	6.18	6.18	NUM
fsr-3373	240	182	4.75	4.75	NUM
fsr-3373	240	183	4.73	4.73	NUM
fsr-3373	240	184	4.86	4.86	NUM
fsr-3373	240	185	14.10	14.10	NUM
fsr-3373	240	186	15.18	15.18	NUM
fsr-3373	240	187	16.40	16.40	NUM
fsr-3373	240	188	17.17	17.17	NUM
fsr-3373	240	189	cpv	cpv	PROPN
fsr-3373	240	190	8.70	8.70	NUM
fsr-3373	240	191	9.43	9.43	NUM
fsr-3373	240	192	8.71	8.71	NUM
fsr-3373	240	193	7.17	7.17	NUM
fsr-3373	240	194	14.83	14.83	NUM
fsr-3373	240	195	15.48	15.48	NUM
fsr-3373	240	196	15.98	15.98	NUM
fsr-3373	240	197	16.28	16.28	NUM
fsr-3373	240	198	results	result	NOUN
fsr-3373	240	199	show	show	VERB
fsr-3373	240	200	annual	annual	ADJ
fsr-3373	240	201	statistics	statistic	NOUN
fsr-3373	240	202	based	base	VERB
fsr-3373	240	203	on	on	ADP
fsr-3373	240	204	10,000	10,000	NUM
fsr-3373	240	205	bootstrapped	bootstrappe	VERB
fsr-3373	240	206	simulations	simulation	NOUN
fsr-3373	240	207	for	for	ADP
fsr-3373	240	208	the	the	DET
fsr-3373	240	209	s&p	s&p	PROPN
fsr-3373	240	210	500	500	NUM
fsr-3373	240	211	along	along	ADP
fsr-3373	240	212	with	with	ADP
fsr-3373	240	213	three	three	NUM
fsr-3373	240	214	leveraged	leveraged	ADJ
fsr-3373	240	215	exchange	exchange	NOUN
fsr-3373	240	216	traded	trade	VERB
fsr-3373	240	217	funds	fund	NOUN
fsr-3373	240	218	(	(	PUNCT
fsr-3373	240	219	letfs	letfs	PROPN
fsr-3373	240	220	)	)	PUNCT
fsr-3373	240	221	and	and	CCONJ
fsr-3373	240	222	four	four	NUM
fsr-3373	240	223	constant	constant	ADJ
fsr-3373	240	224	proportional	proportional	ADJ
fsr-3373	240	225	portfolio	portfolio	NOUN
fsr-3373	240	226	insurance	insurance	NOUN
fsr-3373	240	227	(	(	PUNCT
fsr-3373	240	228	cppi	cppi	NOUN
fsr-3373	240	229	)	)	PUNCT
fsr-3373	240	230	strategies	strategy	NOUN
fsr-3373	240	231	.	.	PUNCT
fsr-3373	241	1	asignificantly	asignificantly	ADV
fsr-3373	241	2	better	well	ADJ
fsr-3373	241	3	than	than	ADP
fsr-3373	241	4	the	the	DET
fsr-3373	241	5	cppi	cppi	NOUN
fsr-3373	241	6	s&p	s&p	PROPN
fsr-3373	241	7	at	at	ADP
fsr-3373	241	8	the	the	DET
fsr-3373	241	9	5	5	NUM
fsr-3373	241	10	%	%	NOUN
fsr-3373	241	11	level	level	NOUN
fsr-3373	241	12	.	.	PUNCT
fsr-3373	242	1	bsignificantly	bsignificantly	ADV
fsr-3373	242	2	better	well	ADJ
fsr-3373	242	3	than	than	ADP
fsr-3373	242	4	the	the	DET
fsr-3373	242	5	s&p	s&p	PROPN
fsr-3373	242	6	500	500	NUM
fsr-3373	242	7	.	.	PUNCT
fsr-3373	243	1	397j	397j	NOUN
fsr-3373	243	2	.	.	PUNCT
fsr-3373	244	1	george	george	PROPN
fsr-3373	244	2	,	,	PUNCT
fsr-3373	244	3	w.j	w.j	PROPN
fsr-3373	244	4	.	.	PROPN
fsr-3373	244	5	trainor	trainor	PROPN
fsr-3373	244	6	/	/	SYM
fsr-3373	244	7	financial	financial	ADJ
fsr-3373	244	8	services	service	NOUN
fsr-3373	244	9	review	review	VERB
fsr-3373	244	10	26	26	NUM
fsr-3373	244	11	(	(	PUNCT
fsr-3373	244	12	2017	2017	NUM
fsr-3373	244	13	)	)	PUNCT
fsr-3373	245	1	387–403	387–403	NUM
fsr-3373	245	2	the	the	DET
fsr-3373	245	3	returns	return	NOUN
fsr-3373	245	4	and	and	CCONJ
fsr-3373	245	5	risk	risk	NOUN
fsr-3373	245	6	statistics	statistic	NOUN
fsr-3373	245	7	confirm	confirm	VERB
fsr-3373	245	8	the	the	DET
fsr-3373	245	9	earlier	early	ADJ
fsr-3373	245	10	results	result	NOUN
fsr-3373	245	11	with	with	ADP
fsr-3373	245	12	the	the	DET
fsr-3373	245	13	letf	letf	ADJ
fsr-3373	245	14	cppi	cppi	NOUN
fsr-3373	245	15	portfolios	portfolio	NOUN
fsr-3373	245	16	showing	show	VERB
fsr-3373	245	17	better	well	ADJ
fsr-3373	245	18	returns	return	NOUN
fsr-3373	245	19	and	and	CCONJ
fsr-3373	245	20	risk	risk	NOUN
fsr-3373	245	21	metrics	metric	NOUN
fsr-3373	245	22	relative	relative	ADJ
fsr-3373	245	23	to	to	ADP
fsr-3373	245	24	the	the	DET
fsr-3373	245	25	standard	standard	ADJ
fsr-3373	245	26	cppi	cppi	NOUN
fsr-3373	245	27	based	base	VERB
fsr-3373	245	28	on	on	ADP
fsr-3373	245	29	sortino	sortino	NOUN
fsr-3373	245	30	,	,	PUNCT
fsr-3373	245	31	value	value	NOUN
fsr-3373	245	32	at	at	ADP
fsr-3373	245	33	risk	risk	NOUN
fsr-3373	245	34	(	(	PUNCT
fsr-3373	245	35	var	var	NOUN
fsr-3373	245	36	)	)	PUNCT
fsr-3373	245	37	,	,	PUNCT
fsr-3373	245	38	expected	expect	VERB
fsr-3373	245	39	shortfall	shortfall	NOUN
fsr-3373	245	40	(	(	PUNCT
fsr-3373	245	41	es	es	NOUN
fsr-3373	245	42	)	)	PUNCT
fsr-3373	245	43	,	,	PUNCT
fsr-3373	245	44	omega	omega	NOUN
fsr-3373	245	45	,	,	PUNCT
fsr-3373	245	46	and	and	CCONJ
fsr-3373	245	47	cpv	cpv	NOUN
fsr-3373	245	48	.	.	PUNCT
fsr-3373	246	1	although	although	SCONJ
fsr-3373	246	2	there	there	PRON
fsr-3373	246	3	are	be	VERB
fsr-3373	246	4	no	no	DET
fsr-3373	246	5	statistical	statistical	ADJ
fsr-3373	246	6	tests	test	NOUN
fsr-3373	246	7	for	for	ADP
fsr-3373	246	8	significance	significance	NOUN
fsr-3373	246	9	for	for	ADP
fsr-3373	246	10	the	the	DET
fsr-3373	246	11	sortino	sortino	NOUN
fsr-3373	246	12	and	and	CCONJ
fsr-3373	246	13	omega	omega	NOUN
fsr-3373	246	14	values	value	NOUN
fsr-3373	246	15	,	,	PUNCT
fsr-3373	246	16	the	the	DET
fsr-3373	246	17	differences	difference	NOUN
fsr-3373	246	18	are	be	AUX
fsr-3373	246	19	monotonically	monotonically	ADV
fsr-3373	246	20	increasing	increase	VERB
fsr-3373	246	21	.	.	PUNCT
fsr-3373	247	1	the	the	DET
fsr-3373	247	2	sortino	sortino	ADJ
fsr-3373	247	3	measure	measure	NOUN
fsr-3373	247	4	also	also	ADV
fsr-3373	247	5	suggests	suggest	VERB
fsr-3373	247	6	the	the	DET
fsr-3373	247	7	4x	4x	NUM
fsr-3373	247	8	by	by	ADP
fsr-3373	247	9	itself	itself	PRON
fsr-3373	247	10	has	have	AUX
fsr-3373	247	11	better	well	ADJ
fsr-3373	247	12	return	return	VERB
fsr-3373	247	13	relative	relative	ADJ
fsr-3373	247	14	to	to	ADP
fsr-3373	247	15	downside	downside	ADJ
fsr-3373	247	16	risk	risk	NOUN
fsr-3373	247	17	even	even	ADV
fsr-3373	247	18	over	over	ADP
fsr-3373	247	19	the	the	DET
fsr-3373	247	20	cppi	cppi	NOUN
fsr-3373	247	21	s&p	s&p	PROPN
fsr-3373	247	22	,	,	PUNCT
fsr-3373	247	23	but	but	CCONJ
fsr-3373	247	24	this	this	PRON
fsr-3373	247	25	is	be	AUX
fsr-3373	247	26	mainly	mainly	ADV
fsr-3373	247	27	because	because	SCONJ
fsr-3373	247	28	of	of	ADP
fsr-3373	247	29	the	the	DET
fsr-3373	247	30	very	very	ADV
fsr-3373	247	31	positively	positively	ADV
fsr-3373	247	32	skewed	skewed	ADJ
fsr-3373	247	33	returns	return	NOUN
fsr-3373	247	34	for	for	ADP
fsr-3373	247	35	this	this	DET
fsr-3373	247	36	asset	asset	NOUN
fsr-3373	247	37	resulting	result	VERB
fsr-3373	247	38	in	in	ADP
fsr-3373	247	39	a	a	DET
fsr-3373	247	40	high	high	ADJ
fsr-3373	247	41	average	average	ADJ
fsr-3373	247	42	return	return	NOUN
fsr-3373	247	43	.	.	PUNCT
fsr-3373	248	1	the	the	DET
fsr-3373	248	2	median	median	ADJ
fsr-3373	248	3	return	return	NOUN
fsr-3373	248	4	shows	show	VERB
fsr-3373	248	5	the	the	DET
fsr-3373	248	6	more	more	ADV
fsr-3373	248	7	likely	likely	ADJ
fsr-3373	248	8	result	result	NOUN
fsr-3373	248	9	and	and	CCONJ
fsr-3373	248	10	is	be	AUX
fsr-3373	248	11	significantly	significantly	ADV
fsr-3373	248	12	less	less	ADJ
fsr-3373	248	13	than	than	ADP
fsr-3373	248	14	the	the	DET
fsr-3373	248	15	average	average	NOUN
fsr-3373	248	16	for	for	ADP
fsr-3373	248	17	the	the	DET
fsr-3373	248	18	4x	4x	NUM
fsr-3373	248	19	fund	fund	NOUN
fsr-3373	248	20	.	.	PUNCT
fsr-3373	249	1	reconfirming	reconfirm	VERB
fsr-3373	249	2	the	the	DET
fsr-3373	249	3	historical	historical	ADJ
fsr-3373	249	4	results	result	NOUN
fsr-3373	249	5	,	,	PUNCT
fsr-3373	249	6	all	all	DET
fsr-3373	249	7	four	four	NUM
fsr-3373	249	8	cppi	cppi	NOUN
fsr-3373	249	9	portfolios	portfolio	NOUN
fsr-3373	249	10	have	have	VERB
fsr-3373	249	11	better	well	ADJ
fsr-3373	249	12	cpv	cpv	NOUN
fsr-3373	249	13	values	value	NOUN
fsr-3373	249	14	relative	relative	ADJ
fsr-3373	249	15	to	to	ADP
fsr-3373	249	16	the	the	DET
fsr-3373	249	17	s&p	s&p	PROPN
fsr-3373	249	18	500	500	NUM
fsr-3373	249	19	,	,	PUNCT
fsr-3373	249	20	with	with	ADP
fsr-3373	249	21	the	the	DET
fsr-3373	249	22	letf	letf	ADJ
fsr-3373	249	23	cpvs	cpvs	NOUN
fsr-3373	249	24	greater	great	ADJ
fsr-3373	249	25	than	than	ADP
fsr-3373	249	26	the	the	DET
fsr-3373	249	27	cppi	cppi	NOUN
fsr-3373	249	28	s&p	s&p	PROPN
fsr-3373	249	29	as	as	ADV
fsr-3373	249	30	well	well	ADV
fsr-3373	249	31	.	.	PUNCT
fsr-3373	250	1	both	both	CCONJ
fsr-3373	250	2	the	the	DET
fsr-3373	250	3	cppi	cppi	NOUN
fsr-3373	250	4	3x	3x	PROPN
fsr-3373	250	5	and	and	CCONJ
fsr-3373	250	6	cppi	cppi	PROPN
fsr-3373	250	7	4x	4x	NOUN
fsr-3373	250	8	have	have	VERB
fsr-3373	250	9	significantly	significantly	ADV
fsr-3373	250	10	greater	great	ADJ
fsr-3373	250	11	returns	return	NOUN
fsr-3373	250	12	than	than	ADP
fsr-3373	250	13	the	the	DET
fsr-3373	250	14	cppi	cppi	NOUN
fsr-3373	250	15	s&p	s&p	PROPN
fsr-3373	250	16	.	.	PUNCT
fsr-3373	251	1	the	the	DET
fsr-3373	251	2	cppi	cppi	PROPN
fsr-3373	251	3	4x	4x	PRON
fsr-3373	251	4	gives	give	VERB
fsr-3373	251	5	the	the	DET
fsr-3373	251	6	best	good	ADJ
fsr-3373	251	7	results	result	NOUN
fsr-3373	251	8	despite	despite	SCONJ
fsr-3373	251	9	using	use	VERB
fsr-3373	251	10	the	the	DET
fsr-3373	251	11	riskiest	risky	ADJ
fsr-3373	251	12	asset	asset	NOUN
fsr-3373	251	13	.	.	PUNCT
fsr-3373	252	1	the	the	DET
fsr-3373	252	2	caveat	caveat	NOUN
fsr-3373	252	3	to	to	ADP
fsr-3373	252	4	the	the	DET
fsr-3373	252	5	cppi	cppi	NOUN
fsr-3373	252	6	4x	4x	PROPN
fsr-3373	252	7	results	result	NOUN
fsr-3373	252	8	is	be	AUX
fsr-3373	252	9	there	there	PRON
fsr-3373	252	10	are	be	VERB
fsr-3373	252	11	no	no	DET
fsr-3373	252	12	4x	4x	NUM
fsr-3373	252	13	letfs	letfs	NOUN
fsr-3373	252	14	currently	currently	ADV
fsr-3373	252	15	in	in	ADP
fsr-3373	252	16	existence	existence	NOUN
fsr-3373	252	17	,	,	PUNCT
fsr-3373	252	18	and	and	CCONJ
fsr-3373	252	19	when	when	SCONJ
fsr-3373	252	20	and	and	CCONJ
fsr-3373	252	21	if	if	SCONJ
fsr-3373	252	22	they	they	PRON
fsr-3373	252	23	do	do	AUX
fsr-3373	252	24	make	make	VERB
fsr-3373	252	25	it	it	PRON
fsr-3373	252	26	to	to	ADP
fsr-3373	252	27	market	market	NOUN
fsr-3373	252	28	,	,	PUNCT
fsr-3373	252	29	the	the	DET
fsr-3373	252	30	expense	expense	NOUN
fsr-3373	252	31	ratio	ratio	NOUN
fsr-3373	252	32	and	and	CCONJ
fsr-3373	252	33	cost	cost	NOUN
fsr-3373	252	34	of	of	ADP
fsr-3373	252	35	running	run	VERB
fsr-3373	252	36	these	these	DET
fsr-3373	252	37	funds	fund	NOUN
fsr-3373	252	38	may	may	AUX
fsr-3373	252	39	be	be	AUX
fsr-3373	252	40	more	more	ADV
fsr-3373	252	41	expensive	expensive	ADJ
fsr-3373	252	42	than	than	ADP
fsr-3373	252	43	what	what	PRON
fsr-3373	252	44	is	be	AUX
fsr-3373	252	45	assumed	assume	VERB
fsr-3373	252	46	in	in	ADP
fsr-3373	252	47	this	this	DET
fsr-3373	252	48	study	study	NOUN
fsr-3373	252	49	.	.	PUNCT
fsr-3373	253	1	with	with	ADP
fsr-3373	253	2	no	no	DET
fsr-3373	253	3	way	way	NOUN
fsr-3373	253	4	to	to	PART
fsr-3373	253	5	test	test	VERB
fsr-3373	253	6	the	the	DET
fsr-3373	253	7	pricing	pricing	NOUN
fsr-3373	253	8	model	model	NOUN
fsr-3373	253	9	on	on	ADP
fsr-3373	253	10	an	an	DET
fsr-3373	253	11	actual	actual	ADJ
fsr-3373	253	12	4x	4x	NUM
fsr-3373	253	13	fund	fund	NOUN
fsr-3373	253	14	,	,	PUNCT
fsr-3373	253	15	the	the	DET
fsr-3373	253	16	4x	4x	NUM
fsr-3373	253	17	results	result	NOUN
fsr-3373	253	18	should	should	AUX
fsr-3373	253	19	be	be	AUX
fsr-3373	253	20	interpreted	interpret	VERB
fsr-3373	253	21	with	with	ADP
fsr-3373	253	22	caution	caution	NOUN
fsr-3373	253	23	.	.	PUNCT
fsr-3373	254	1	from	from	ADP
fsr-3373	254	2	an	an	DET
fsr-3373	254	3	absolute	absolute	ADJ
fsr-3373	254	4	return	return	NOUN
fsr-3373	254	5	standpoint	standpoint	NOUN
fsr-3373	254	6	,	,	PUNCT
fsr-3373	254	7	cppi	cppi	NOUN
fsr-3373	254	8	portfolios	portfolio	NOUN
fsr-3373	254	9	have	have	VERB
fsr-3373	254	10	annual	annual	ADJ
fsr-3373	254	11	average	average	ADJ
fsr-3373	254	12	returns	return	NOUN
fsr-3373	254	13	1	1	NUM
fsr-3373	254	14	%	%	NOUN
fsr-3373	254	15	to	to	PART
fsr-3373	254	16	2	2	NUM
fsr-3373	254	17	%	%	NOUN
fsr-3373	254	18	less	less	ADJ
fsr-3373	254	19	and	and	CCONJ
fsr-3373	254	20	median	median	ADJ
fsr-3373	254	21	returns	return	NOUN
fsr-3373	254	22	4	4	NUM
fsr-3373	254	23	%	%	NOUN
fsr-3373	254	24	to	to	PART
fsr-3373	254	25	5	5	NUM
fsr-3373	254	26	%	%	NOUN
fsr-3373	254	27	less	less	ADJ
fsr-3373	254	28	than	than	ADP
fsr-3373	254	29	the	the	DET
fsr-3373	254	30	s&p	s&p	PROPN
fsr-3373	254	31	500	500	NUM
fsr-3373	254	32	.	.	PUNCT
fsr-3373	255	1	thus	thus	ADV
fsr-3373	255	2	,	,	PUNCT
fsr-3373	255	3	cppi	cppi	NOUN
fsr-3373	255	4	portfolios	portfolio	NOUN
fsr-3373	255	5	do	do	AUX
fsr-3373	255	6	not	not	PART
fsr-3373	255	7	provide	provide	VERB
fsr-3373	255	8	“	"	PUNCT
fsr-3373	255	9	free	free	ADJ
fsr-3373	255	10	”	"	PUNCT
fsr-3373	255	11	downside	downside	ADJ
fsr-3373	255	12	protection	protection	NOUN
fsr-3373	255	13	.	.	PUNCT
fsr-3373	256	1	however	however	ADV
fsr-3373	256	2	,	,	PUNCT
fsr-3373	256	3	the	the	DET
fsr-3373	256	4	amount	amount	NOUN
fsr-3373	256	5	of	of	ADP
fsr-3373	256	6	average	average	ADJ
fsr-3373	256	7	return	return	NOUN
fsr-3373	256	8	sacrificed	sacrifice	VERB
fsr-3373	256	9	to	to	PART
fsr-3373	256	10	avoid	avoid	VERB
fsr-3373	256	11	large	large	ADJ
fsr-3373	256	12	losses	loss	NOUN
fsr-3373	256	13	would	would	AUX
fsr-3373	256	14	seemingly	seemingly	ADV
fsr-3373	256	15	be	be	AUX
fsr-3373	256	16	appealing	appeal	VERB
fsr-3373	256	17	to	to	ADP
fsr-3373	256	18	risk	risk	NOUN
fsr-3373	256	19	-	-	PUNCT
fsr-3373	256	20	averse	averse	ADJ
fsr-3373	256	21	investors	investor	NOUN
fsr-3373	256	22	.	.	PUNCT
fsr-3373	257	1	the	the	DET
fsr-3373	257	2	reduction	reduction	NOUN
fsr-3373	257	3	in	in	ADP
fsr-3373	257	4	the	the	DET
fsr-3373	257	5	minimums	minimum	NOUN
fsr-3373	257	6	,	,	PUNCT
fsr-3373	257	7	var	var	NOUN
fsr-3373	257	8	,	,	PUNCT
fsr-3373	257	9	and	and	CCONJ
fsr-3373	257	10	es	es	VERB
fsr-3373	257	11	values	value	NOUN
fsr-3373	257	12	bear	bear	VERB
fsr-3373	257	13	this	this	PRON
fsr-3373	257	14	out	out	ADP
fsr-3373	257	15	along	along	ADP
fsr-3373	257	16	with	with	ADP
fsr-3373	257	17	much	much	ADV
fsr-3373	257	18	higher	high	ADJ
fsr-3373	257	19	cpv	cpv	NOUN
fsr-3373	257	20	values	value	NOUN
fsr-3373	257	21	that	that	PRON
fsr-3373	257	22	measure	measure	VERB
fsr-3373	257	23	the	the	DET
fsr-3373	257	24	value	value	NOUN
fsr-3373	257	25	to	to	PART
fsr-3373	257	26	prospect	prospect	VERB
fsr-3373	257	27	theory	theory	NOUN
fsr-3373	257	28	type	type	NOUN
fsr-3373	257	29	investors	investor	NOUN
fsr-3373	257	30	.	.	PUNCT
fsr-3373	258	1	for	for	ADP
fsr-3373	258	2	the	the	DET
fsr-3373	258	3	risk	risk	NOUN
fsr-3373	258	4	-	-	PUNCT
fsr-3373	258	5	speculators	speculator	NOUN
fsr-3373	258	6	,	,	PUNCT
fsr-3373	258	7	the	the	DET
fsr-3373	258	8	average	average	ADJ
fsr-3373	258	9	returns	return	NOUN
fsr-3373	258	10	to	to	ADP
fsr-3373	258	11	the	the	DET
fsr-3373	258	12	letfs	letfs	NOUN
fsr-3373	258	13	by	by	ADP
fsr-3373	258	14	themselves	themselves	PRON
fsr-3373	258	15	are	be	AUX
fsr-3373	258	16	enticing	entice	VERB
fsr-3373	258	17	,	,	PUNCT
fsr-3373	258	18	up	up	ADP
fsr-3373	258	19	to	to	ADP
fsr-3373	258	20	an	an	DET
fsr-3373	258	21	average	average	ADJ
fsr-3373	258	22	46	46	NUM
fsr-3373	258	23	%	%	NOUN
fsr-3373	258	24	return	return	NOUN
fsr-3373	258	25	with	with	ADP
fsr-3373	258	26	the	the	DET
fsr-3373	258	27	4x	4x	NOUN
fsr-3373	258	28	.	.	PUNCT
fsr-3373	259	1	however	however	ADV
fsr-3373	259	2	,	,	PUNCT
fsr-3373	259	3	these	these	DET
fsr-3373	259	4	returns	return	NOUN
fsr-3373	259	5	are	be	AUX
fsr-3373	259	6	coupled	couple	VERB
fsr-3373	259	7	with	with	ADP
fsr-3373	259	8	up	up	ADP
fsr-3373	259	9	to	to	PART
fsr-3373	259	10	�	�	NOUN
fsr-3373	259	11	98	98	NUM
fsr-3373	259	12	%	%	NOUN
fsr-3373	259	13	losses	loss	NOUN
fsr-3373	259	14	in	in	ADP
fsr-3373	259	15	any	any	DET
fsr-3373	259	16	given	give	VERB
fsr-3373	259	17	year	year	NOUN
fsr-3373	259	18	.	.	PUNCT
fsr-3373	260	1	the	the	DET
fsr-3373	260	2	question	question	NOUN
fsr-3373	260	3	going	go	VERB
fsr-3373	260	4	forward	forward	ADV
fsr-3373	260	5	is	be	AUX
fsr-3373	260	6	which	which	DET
fsr-3373	260	7	cppi	cppi	NOUN
fsr-3373	260	8	strategy	strategy	NOUN
fsr-3373	260	9	is	be	AUX
fsr-3373	260	10	likely	likely	ADJ
fsr-3373	260	11	to	to	PART
fsr-3373	260	12	do	do	VERB
fsr-3373	260	13	best	well	ADV
fsr-3373	260	14	?	?	PUNCT
fsr-3373	261	1	noting	note	VERB
fsr-3373	261	2	what	what	PRON
fsr-3373	261	3	has	have	AUX
fsr-3373	261	4	happened	happen	VERB
fsr-3373	261	5	since	since	SCONJ
fsr-3373	261	6	2007	2007	NUM
fsr-3373	261	7	when	when	SCONJ
fsr-3373	261	8	the	the	DET
fsr-3373	261	9	t	t	PROPN
fsr-3373	261	10	-	-	PUNCT
fsr-3373	261	11	bill	bill	NOUN
fsr-3373	261	12	rate	rate	NOUN
fsr-3373	261	13	is	be	AUX
fsr-3373	261	14	close	close	ADJ
fsr-3373	261	15	to	to	ADP
fsr-3373	261	16	zero	zero	NUM
fsr-3373	261	17	,	,	PUNCT
fsr-3373	261	18	a	a	DET
fsr-3373	261	19	letf	letf	ADJ
fsr-3373	261	20	cppi	cppi	NOUN
fsr-3373	261	21	loses	lose	VERB
fsr-3373	261	22	its	its	PRON
fsr-3373	261	23	advantage	advantage	NOUN
fsr-3373	261	24	if	if	SCONJ
fsr-3373	261	25	the	the	DET
fsr-3373	261	26	additional	additional	ADJ
fsr-3373	261	27	funds	fund	NOUN
fsr-3373	261	28	are	be	AUX
fsr-3373	261	29	simply	simply	ADV
fsr-3373	261	30	invested	invest	VERB
fsr-3373	261	31	in	in	ADP
fsr-3373	261	32	the	the	DET
fsr-3373	261	33	risk	risk	NOUN
fsr-3373	261	34	-	-	PUNCT
fsr-3373	261	35	free	free	ADJ
fsr-3373	261	36	rate	rate	NOUN
fsr-3373	261	37	if	if	SCONJ
fsr-3373	261	38	rates	rate	NOUN
fsr-3373	261	39	are	be	AUX
fsr-3373	261	40	very	very	ADV
fsr-3373	261	41	low	low	ADJ
fsr-3373	261	42	.	.	PUNCT
fsr-3373	262	1	to	to	PART
fsr-3373	262	2	ascertain	ascertain	VERB
fsr-3373	262	3	what	what	PRON
fsr-3373	262	4	risk	risk	NOUN
fsr-3373	262	5	-	-	PUNCT
fsr-3373	262	6	free	free	ADJ
fsr-3373	262	7	rate	rate	NOUN
fsr-3373	262	8	of	of	ADP
fsr-3373	262	9	return	return	NOUN
fsr-3373	262	10	one	one	PRON
fsr-3373	262	11	would	would	AUX
fsr-3373	262	12	need	need	VERB
fsr-3373	262	13	to	to	PART
fsr-3373	262	14	overcome	overcome	VERB
fsr-3373	262	15	decay	decay	NOUN
fsr-3373	262	16	and	and	CCONJ
fsr-3373	262	17	the	the	DET
fsr-3373	262	18	higher	high	ADJ
fsr-3373	262	19	expenses	expense	NOUN
fsr-3373	262	20	from	from	ADP
fsr-3373	262	21	using	use	VERB
fsr-3373	262	22	a	a	DET
fsr-3373	262	23	letf	letf	NOUN
fsr-3373	262	24	,	,	PUNCT
fsr-3373	262	25	40,000	40,000	NUM
fsr-3373	262	26	bootstrapped	bootstrappe	VERB
fsr-3373	262	27	annual	annual	ADJ
fsr-3373	262	28	returns	return	NOUN
fsr-3373	262	29	are	be	AUX
fsr-3373	262	30	sorted	sort	VERB
fsr-3373	262	31	based	base	VERB
fsr-3373	262	32	on	on	ADP
fsr-3373	262	33	the	the	DET
fsr-3373	262	34	average	average	ADJ
fsr-3373	262	35	t	t	PROPN
fsr-3373	262	36	-	-	PUNCT
fsr-3373	262	37	bill	bill	NOUN
fsr-3373	262	38	return	return	NOUN
fsr-3373	262	39	attained	attain	VERB
fsr-3373	262	40	each	each	DET
fsr-3373	262	41	year	year	NOUN
fsr-3373	262	42	.	.	PUNCT
fsr-3373	263	1	the	the	DET
fsr-3373	263	2	average	average	ADJ
fsr-3373	263	3	t	t	PROPN
fsr-3373	263	4	-	-	PUNCT
fsr-3373	263	5	bill	bill	NOUN
fsr-3373	263	6	return	return	NOUN
fsr-3373	263	7	was	be	AUX
fsr-3373	263	8	5.13	5.13	NUM
fsr-3373	263	9	%	%	NOUN
fsr-3373	263	10	with	with	ADP
fsr-3373	263	11	a	a	DET
fsr-3373	263	12	standard	standard	ADJ
fsr-3373	263	13	deviation	deviation	NOUN
fsr-3373	263	14	of	of	ADP
fsr-3373	263	15	3.84	3.84	NUM
fsr-3373	263	16	%	%	NOUN
fsr-3373	263	17	.	.	PUNCT
fsr-3373	264	1	the	the	DET
fsr-3373	264	2	top	top	ADJ
fsr-3373	264	3	section	section	NOUN
fsr-3373	264	4	of	of	ADP
fsr-3373	264	5	table	table	NOUN
fsr-3373	264	6	7	7	NUM
fsr-3373	264	7	shows	show	VERB
fsr-3373	264	8	the	the	DET
fsr-3373	264	9	return	return	NOUN
fsr-3373	264	10	data	datum	NOUN
fsr-3373	264	11	for	for	ADP
fsr-3373	264	12	when	when	SCONJ
fsr-3373	264	13	the	the	DET
fsr-3373	264	14	t	t	PROPN
fsr-3373	264	15	-	-	PUNCT
fsr-3373	264	16	bill	bill	NOUN
fsr-3373	264	17	rate	rate	NOUN
fsr-3373	264	18	is	be	AUX
fsr-3373	264	19	below	below	ADP
fsr-3373	264	20	1	1	NUM
fsr-3373	264	21	%	%	NOUN
fsr-3373	264	22	to	to	ADP
fsr-3373	264	23	greater	great	ADJ
fsr-3373	264	24	than	than	ADP
fsr-3373	264	25	7	7	NUM
fsr-3373	264	26	%	%	NOUN
fsr-3373	264	27	.	.	PUNCT
fsr-3373	265	1	two	two	NUM
fsr-3373	265	2	conclusions	conclusion	NOUN
fsr-3373	265	3	are	be	AUX
fsr-3373	265	4	apparent	apparent	ADJ
fsr-3373	265	5	from	from	ADP
fsr-3373	265	6	examining	examine	VERB
fsr-3373	265	7	the	the	DET
fsr-3373	265	8	top	top	ADJ
fsr-3373	265	9	section	section	NOUN
fsr-3373	265	10	of	of	ADP
fsr-3373	265	11	table	table	NOUN
fsr-3373	265	12	7	7	NUM
fsr-3373	265	13	.	.	PUNCT
fsr-3373	265	14	for	for	ADP
fsr-3373	265	15	a	a	DET
fsr-3373	265	16	letf	letf	ADJ
fsr-3373	265	17	cppi	cppi	NOUN
fsr-3373	265	18	to	to	PART
fsr-3373	265	19	outperform	outperform	VERB
fsr-3373	265	20	,	,	PUNCT
fsr-3373	265	21	a	a	DET
fsr-3373	265	22	rate	rate	NOUN
fsr-3373	265	23	of	of	ADP
fsr-3373	265	24	2.5	2.5	NUM
fsr-3373	265	25	%	%	NOUN
fsr-3373	265	26	or	or	CCONJ
fsr-3373	265	27	more	more	ADJ
fsr-3373	265	28	is	be	AUX
fsr-3373	265	29	required	require	VERB
fsr-3373	265	30	to	to	PART
fsr-3373	265	31	make	make	VERB
fsr-3373	265	32	up	up	ADP
fsr-3373	265	33	for	for	ADP
fsr-3373	265	34	the	the	DET
fsr-3373	265	35	additional	additional	ADJ
fsr-3373	265	36	costs	cost	NOUN
fsr-3373	265	37	from	from	ADP
fsr-3373	265	38	using	use	VERB
fsr-3373	265	39	letfs	letfs	PROPN
fsr-3373	265	40	.	.	PUNCT
fsr-3373	266	1	two	two	NUM
fsr-3373	266	2	,	,	PUNCT
fsr-3373	266	3	when	when	SCONJ
fsr-3373	266	4	the	the	DET
fsr-3373	266	5	rate	rate	NOUN
fsr-3373	266	6	is	be	AUX
fsr-3373	266	7	less	less	ADJ
fsr-3373	266	8	than	than	ADP
fsr-3373	266	9	2	2	NUM
fsr-3373	266	10	%	%	NOUN
fsr-3373	266	11	,	,	PUNCT
fsr-3373	266	12	for	for	ADP
fsr-3373	266	13	those	those	PRON
fsr-3373	266	14	constructing	construct	VERB
fsr-3373	266	15	a	a	DET
fsr-3373	266	16	cppi	cppi	NOUN
fsr-3373	266	17	,	,	PUNCT
fsr-3373	266	18	a	a	DET
fsr-3373	266	19	standard	standard	ADJ
fsr-3373	266	20	cppi	cppi	NOUN
fsr-3373	266	21	will	will	AUX
fsr-3373	266	22	be	be	AUX
fsr-3373	266	23	slightly	slightly	ADV
fsr-3373	266	24	better	well	ADJ
fsr-3373	266	25	.	.	PUNCT
fsr-3373	267	1	alternatively	alternatively	ADV
fsr-3373	267	2	,	,	PUNCT
fsr-3373	267	3	an	an	DET
fsr-3373	267	4	investor	investor	NOUN
fsr-3373	267	5	could	could	AUX
fsr-3373	267	6	redefine	redefine	VERB
fsr-3373	267	7	the	the	DET
fsr-3373	267	8	“	"	PUNCT
fsr-3373	267	9	risk	risk	NOUN
fsr-3373	267	10	-	-	PUNCT
fsr-3373	267	11	free	free	ADJ
fsr-3373	267	12	”	"	PUNCT
fsr-3373	267	13	asset	asset	NOUN
fsr-3373	267	14	to	to	PART
fsr-3373	267	15	accommodate	accommodate	VERB
fsr-3373	267	16	a	a	DET
fsr-3373	267	17	relatively	relatively	ADV
fsr-3373	267	18	“	"	PUNCT
fsr-3373	267	19	risk	risk	NOUN
fsr-3373	267	20	-	-	PUNCT
fsr-3373	267	21	free	free	ADJ
fsr-3373	267	22	”	"	PUNCT
fsr-3373	267	23	bond	bond	NOUN
fsr-3373	267	24	fund	fund	NOUN
fsr-3373	267	25	providing	provide	VERB
fsr-3373	267	26	higher	high	ADJ
fsr-3373	267	27	yield	yield	NOUN
fsr-3373	267	28	.	.	PUNCT
fsr-3373	268	1	interest	interest	NOUN
fsr-3373	268	2	rates	rate	NOUN
fsr-3373	268	3	above	above	ADP
fsr-3373	268	4	6	6	NUM
fsr-3373	268	5	%	%	NOUN
fsr-3373	268	6	are	be	AUX
fsr-3373	268	7	very	very	ADV
fsr-3373	268	8	favorable	favorable	ADJ
fsr-3373	268	9	to	to	PART
fsr-3373	268	10	letf	letf	ADV
fsr-3373	268	11	cppis	cppi	VERB
fsr-3373	268	12	with	with	ADP
fsr-3373	268	13	returns	return	NOUN
fsr-3373	268	14	up	up	ADP
fsr-3373	268	15	to	to	PART
fsr-3373	268	16	3	3	NUM
fsr-3373	268	17	%	%	NOUN
fsr-3373	268	18	greater	great	ADJ
fsr-3373	268	19	over	over	ADP
fsr-3373	268	20	the	the	DET
fsr-3373	268	21	standard	standard	ADJ
fsr-3373	268	22	cppi	cppi	NOUN
fsr-3373	268	23	.	.	PUNCT
fsr-3373	269	1	in	in	ADP
fsr-3373	269	2	addition	addition	NOUN
fsr-3373	269	3	,	,	PUNCT
fsr-3373	269	4	rates	rate	NOUN
fsr-3373	269	5	over	over	ADP
fsr-3373	269	6	7	7	NUM
fsr-3373	269	7	%	%	NOUN
fsr-3373	269	8	seem	seem	VERB
fsr-3373	269	9	to	to	PART
fsr-3373	269	10	favor	favor	VERB
fsr-3373	269	11	any	any	DET
fsr-3373	269	12	cppi	cppi	NOUN
fsr-3373	269	13	,	,	PUNCT
fsr-3373	269	14	even	even	ADV
fsr-3373	269	15	over	over	ADP
fsr-3373	269	16	the	the	DET
fsr-3373	269	17	s&p	s&p	PROPN
fsr-3373	269	18	itself	itself	PRON
fsr-3373	269	19	.	.	PUNCT
fsr-3373	270	1	they	they	PRON
fsr-3373	270	2	are	be	AUX
fsr-3373	270	3	particularly	particularly	ADV
fsr-3373	270	4	favorable	favorable	ADJ
fsr-3373	270	5	to	to	PART
fsr-3373	270	6	letf	letf	ADV
fsr-3373	270	7	cppis	cppi	VERB
fsr-3373	270	8	with	with	ADP
fsr-3373	270	9	average	average	ADJ
fsr-3373	270	10	returns	return	NOUN
fsr-3373	270	11	1.5	1.5	NUM
fsr-3373	270	12	%	%	NOUN
fsr-3373	270	13	to	to	PART
fsr-3373	270	14	3	3	NUM
fsr-3373	270	15	%	%	NOUN
fsr-3373	270	16	greater	great	ADJ
fsr-3373	270	17	than	than	ADP
fsr-3373	270	18	both	both	CCONJ
fsr-3373	270	19	the	the	DET
fsr-3373	270	20	s&p	s&p	PROPN
fsr-3373	270	21	and	and	CCONJ
fsr-3373	270	22	the	the	DET
fsr-3373	270	23	cppi	cppi	NOUN
fsr-3373	270	24	s&p	s&p	PROPN
fsr-3373	270	25	.	.	PUNCT
fsr-3373	271	1	by	by	ADP
fsr-3373	271	2	using	use	VERB
fsr-3373	271	3	letfs	letfs	NOUN
fsr-3373	271	4	in	in	ADP
fsr-3373	271	5	a	a	DET
fsr-3373	271	6	cppi	cppi	NOUN
fsr-3373	271	7	,	,	PUNCT
fsr-3373	271	8	the	the	DET
fsr-3373	271	9	investor	investor	NOUN
fsr-3373	271	10	is	be	AUX
fsr-3373	271	11	in	in	ADP
fsr-3373	271	12	effect	effect	NOUN
fsr-3373	271	13	borrowing	borrow	VERB
fsr-3373	271	14	short	short	ADJ
fsr-3373	271	15	via	via	ADP
fsr-3373	271	16	the	the	DET
fsr-3373	271	17	letf	letf	ADJ
fsr-3373	271	18	and	and	CCONJ
fsr-3373	271	19	investing	invest	VERB
fsr-3373	271	20	in	in	ADP
fsr-3373	271	21	one	one	NUM
fsr-3373	271	22	-	-	PUNCT
fsr-3373	271	23	year	year	NOUN
fsr-3373	271	24	treasuries	treasury	NOUN
fsr-3373	271	25	.	.	PUNCT
fsr-3373	272	1	thus	thus	ADV
fsr-3373	272	2	,	,	PUNCT
fsr-3373	272	3	the	the	DET
fsr-3373	272	4	slope	slope	NOUN
fsr-3373	272	5	of	of	ADP
fsr-3373	272	6	the	the	DET
fsr-3373	272	7	yield	yield	NOUN
fsr-3373	272	8	curve	curve	NOUN
fsr-3373	272	9	is	be	AUX
fsr-3373	272	10	a	a	DET
fsr-3373	272	11	critical	critical	ADJ
fsr-3373	272	12	issue	issue	NOUN
fsr-3373	272	13	.	.	PUNCT
fsr-3373	273	1	generally	generally	ADV
fsr-3373	273	2	,	,	PUNCT
fsr-3373	273	3	lower	low	ADJ
fsr-3373	273	4	rates	rate	NOUN
fsr-3373	273	5	are	be	AUX
fsr-3373	273	6	associated	associate	VERB
fsr-3373	273	7	with	with	ADP
fsr-3373	273	8	a	a	DET
fsr-3373	273	9	flatter	flatter	ADJ
fsr-3373	273	10	yield	yield	NOUN
fsr-3373	273	11	curve	curve	NOUN
fsr-3373	273	12	and	and	CCONJ
fsr-3373	273	13	vice	vice	NOUN
fsr-3373	273	14	versa	versa	ADV
fsr-3373	273	15	.	.	PUNCT
fsr-3373	274	1	thus	thus	ADV
fsr-3373	274	2	,	,	PUNCT
fsr-3373	274	3	returns	return	VERB
fsr-3373	274	4	398	398	NUM
fsr-3373	274	5	j.	j.	PROPN
fsr-3373	274	6	george	george	PROPN
fsr-3373	274	7	,	,	PUNCT
fsr-3373	274	8	w.j	w.j	PROPN
fsr-3373	274	9	.	.	PROPN
fsr-3373	274	10	trainor	trainor	PROPN
fsr-3373	274	11	/	/	SYM
fsr-3373	274	12	financial	financial	ADJ
fsr-3373	274	13	services	service	NOUN
fsr-3373	274	14	review	review	VERB
fsr-3373	274	15	26	26	NUM
fsr-3373	274	16	(	(	PUNCT
fsr-3373	274	17	2017	2017	NUM
fsr-3373	274	18	)	)	PUNCT
fsr-3373	274	19	387–403	387–403	NOUN
fsr-3373	274	20	are	be	AUX
fsr-3373	274	21	also	also	ADV
fsr-3373	274	22	sorted	sort	VERB
fsr-3373	274	23	by	by	ADP
fsr-3373	274	24	the	the	DET
fsr-3373	274	25	yield	yield	NOUN
fsr-3373	274	26	curve	curve	NOUN
fsr-3373	274	27	slope	slope	NOUN
fsr-3373	274	28	as	as	SCONJ
fsr-3373	274	29	measured	measure	VERB
fsr-3373	274	30	by	by	ADP
fsr-3373	274	31	the	the	DET
fsr-3373	274	32	one	one	NUM
fsr-3373	274	33	year	year	NOUN
fsr-3373	274	34	minus	minus	CCONJ
fsr-3373	274	35	90	90	NUM
fsr-3373	274	36	-	-	PUNCT
fsr-3373	274	37	day	day	NOUN
fsr-3373	274	38	treasury	treasury	NOUN
fsr-3373	274	39	.	.	PUNCT
fsr-3373	275	1	the	the	DET
fsr-3373	275	2	bottom	bottom	NOUN
fsr-3373	275	3	of	of	ADP
fsr-3373	275	4	table	table	NOUN
fsr-3373	275	5	7	7	NUM
fsr-3373	275	6	shows	show	VERB
fsr-3373	275	7	the	the	DET
fsr-3373	275	8	results	result	NOUN
fsr-3373	275	9	.	.	PUNCT
fsr-3373	276	1	when	when	SCONJ
fsr-3373	276	2	the	the	DET
fsr-3373	276	3	90	90	NUM
fsr-3373	276	4	-	-	PUNCT
fsr-3373	276	5	day	day	NOUN
fsr-3373	276	6	treasury	treasury	NOUN
fsr-3373	276	7	exceeds	exceed	VERB
fsr-3373	276	8	the	the	DET
fsr-3373	276	9	return	return	NOUN
fsr-3373	276	10	from	from	ADP
fsr-3373	276	11	the	the	DET
fsr-3373	276	12	one	one	NUM
fsr-3373	276	13	-	-	PUNCT
fsr-3373	276	14	year	year	NOUN
fsr-3373	276	15	treasury	treasury	NOUN
fsr-3373	276	16	,	,	PUNCT
fsr-3373	276	17	the	the	DET
fsr-3373	276	18	standard	standard	ADJ
fsr-3373	276	19	cppi	cppi	NOUN
fsr-3373	276	20	outperforms	outperform	VERB
fsr-3373	276	21	a	a	DET
fsr-3373	276	22	cppi	cppi	NOUN
fsr-3373	276	23	2x	2x	NUM
fsr-3373	276	24	by	by	ADP
fsr-3373	276	25	0.7	0.7	NUM
fsr-3373	276	26	%	%	NOUN
fsr-3373	276	27	to	to	PART
fsr-3373	276	28	0.4	0.4	NUM
fsr-3373	276	29	%	%	NOUN
fsr-3373	276	30	moving	move	VERB
fsr-3373	276	31	from	from	ADP
fsr-3373	276	32	a	a	DET
fsr-3373	276	33	cppi	cppi	NOUN
fsr-3373	276	34	2x	2x	NUM
fsr-3373	276	35	to	to	ADP
fsr-3373	276	36	a	a	DET
fsr-3373	276	37	cppi	cppi	NOUN
fsr-3373	276	38	4x	4x	NUM
fsr-3373	276	39	.	.	PUNCT
fsr-3373	277	1	as	as	ADV
fsr-3373	277	2	soon	soon	ADV
fsr-3373	277	3	as	as	SCONJ
fsr-3373	277	4	the	the	DET
fsr-3373	277	5	slope	slope	NOUN
fsr-3373	277	6	exceeds	exceed	VERB
fsr-3373	277	7	1	1	NUM
fsr-3373	277	8	%	%	NOUN
fsr-3373	277	9	,	,	PUNCT
fsr-3373	277	10	all	all	DET
fsr-3373	277	11	the	the	DET
fsr-3373	277	12	letf	letf	ADJ
fsr-3373	277	13	cppis	cppi	VERB
fsr-3373	277	14	outperform	outperform	NOUN
fsr-3373	277	15	a	a	DET
fsr-3373	277	16	tradition	tradition	NOUN
fsr-3373	277	17	cppi	cppi	NOUN
fsr-3373	277	18	and	and	CCONJ
fsr-3373	277	19	this	this	DET
fsr-3373	277	20	outperformance	outperformance	NOUN
fsr-3373	277	21	increases	increase	VERB
fsr-3373	277	22	the	the	PRON
fsr-3373	277	23	greater	great	ADJ
fsr-3373	277	24	the	the	DET
fsr-3373	277	25	difference	difference	NOUN
fsr-3373	277	26	in	in	ADP
fsr-3373	277	27	treasury	treasury	NOUN
fsr-3373	277	28	rates	rate	NOUN
fsr-3373	277	29	.	.	PUNCT
fsr-3373	278	1	these	these	DET
fsr-3373	278	2	results	result	NOUN
fsr-3373	278	3	reaffirm	reaffirm	VERB
fsr-3373	278	4	what	what	PRON
fsr-3373	278	5	may	may	AUX
fsr-3373	278	6	be	be	AUX
fsr-3373	278	7	obvious	obvious	ADJ
fsr-3373	278	8	;	;	PUNCT
fsr-3373	278	9	the	the	DET
fsr-3373	278	10	advantage	advantage	NOUN
fsr-3373	278	11	of	of	ADP
fsr-3373	278	12	using	use	VERB
fsr-3373	278	13	a	a	DET
fsr-3373	278	14	letf	letf	ADJ
fsr-3373	278	15	cppi	cppi	NOUN
fsr-3373	278	16	strategy	strategy	NOUN
fsr-3373	278	17	is	be	AUX
fsr-3373	278	18	what	what	PRON
fsr-3373	278	19	return	return	VERB
fsr-3373	278	20	an	an	DET
fsr-3373	278	21	investor	investor	NOUN
fsr-3373	278	22	can	can	AUX
fsr-3373	278	23	attain	attain	VERB
fsr-3373	278	24	with	with	ADP
fsr-3373	278	25	the	the	DET
fsr-3373	278	26	excess	excess	ADJ
fsr-3373	278	27	funds	fund	NOUN
fsr-3373	278	28	relative	relative	ADJ
fsr-3373	278	29	to	to	ADP
fsr-3373	278	30	the	the	DET
fsr-3373	278	31	intrinsic	intrinsic	ADJ
fsr-3373	278	32	financing	financing	NOUN
fsr-3373	278	33	costs	cost	NOUN
fsr-3373	278	34	of	of	ADP
fsr-3373	278	35	the	the	DET
fsr-3373	278	36	letfs	letfs	NOUN
fsr-3373	278	37	leverage	leverage	NOUN
fsr-3373	278	38	.	.	PUNCT
fsr-3373	279	1	4.3	4.3	NUM
fsr-3373	279	2	.	.	PUNCT
fsr-3373	279	3	rebalancing	rebalancing	NOUN
fsr-3373	279	4	rules	rule	NOUN
fsr-3373	279	5	there	there	PRON
fsr-3373	279	6	is	be	VERB
fsr-3373	279	7	nothing	nothing	PRON
fsr-3373	279	8	magic	magic	ADJ
fsr-3373	279	9	about	about	ADP
fsr-3373	279	10	using	use	VERB
fsr-3373	279	11	a	a	DET
fsr-3373	279	12	2.5	2.5	NUM
fsr-3373	279	13	%	%	NOUN
fsr-3373	279	14	market	market	NOUN
fsr-3373	279	15	move	move	NOUN
fsr-3373	279	16	to	to	ADP
fsr-3373	279	17	rebalance	rebalance	NOUN
fsr-3373	279	18	.	.	PUNCT
fsr-3373	280	1	in	in	ADP
fsr-3373	280	2	fact	fact	NOUN
fsr-3373	280	3	,	,	PUNCT
fsr-3373	280	4	using	use	VERB
fsr-3373	280	5	a	a	DET
fsr-3373	280	6	2	2	NUM
fsr-3373	280	7	%	%	NOUN
fsr-3373	280	8	or	or	CCONJ
fsr-3373	280	9	3	3	NUM
fsr-3373	280	10	%	%	NOUN
fsr-3373	280	11	market	market	NOUN
fsr-3373	280	12	move	move	NOUN
fsr-3373	280	13	gives	give	VERB
fsr-3373	280	14	virtually	virtually	ADV
fsr-3373	280	15	the	the	DET
fsr-3373	280	16	same	same	ADJ
fsr-3373	280	17	results	result	NOUN
fsr-3373	280	18	.	.	PUNCT
fsr-3373	281	1	taken	take	VERB
fsr-3373	281	2	to	to	ADP
fsr-3373	281	3	the	the	DET
fsr-3373	281	4	extreme	extreme	ADJ
fsr-3373	281	5	,	,	PUNCT
fsr-3373	281	6	daily	daily	ADJ
fsr-3373	281	7	rebalancing	rebalancing	NOUN
fsr-3373	281	8	could	could	AUX
fsr-3373	281	9	be	be	AUX
fsr-3373	281	10	implemented	implement	VERB
fsr-3373	281	11	,	,	PUNCT
fsr-3373	281	12	but	but	CCONJ
fsr-3373	281	13	trading	trading	NOUN
fsr-3373	281	14	costs	cost	NOUN
fsr-3373	281	15	would	would	AUX
fsr-3373	281	16	increase	increase	VERB
fsr-3373	281	17	.	.	PUNCT
fsr-3373	282	1	although	although	SCONJ
fsr-3373	282	2	this	this	DET
fsr-3373	282	3	study	study	NOUN
fsr-3373	282	4	did	do	AUX
fsr-3373	282	5	not	not	PART
fsr-3373	282	6	account	account	VERB
fsr-3373	282	7	for	for	ADP
fsr-3373	282	8	brokerage	brokerage	NOUN
fsr-3373	282	9	costs	cost	NOUN
fsr-3373	282	10	explicitly	explicitly	ADV
fsr-3373	282	11	in	in	ADP
fsr-3373	282	12	the	the	DET
fsr-3373	282	13	return	return	NOUN
fsr-3373	282	14	calculations	calculation	NOUN
fsr-3373	282	15	,	,	PUNCT
fsr-3373	282	16	with	with	ADP
fsr-3373	282	17	two	two	NUM
fsr-3373	282	18	trades	trade	NOUN
fsr-3373	282	19	a	a	DET
fsr-3373	282	20	day	day	NOUN
fsr-3373	282	21	at	at	ADP
fsr-3373	282	22	$	$	SYM
fsr-3373	282	23	5	5	NUM
fsr-3373	282	24	a	a	DET
fsr-3373	282	25	trade	trade	NOUN
fsr-3373	282	26	,	,	PUNCT
fsr-3373	282	27	even	even	ADV
fsr-3373	282	28	a	a	DET
fsr-3373	282	29	$	$	SYM
fsr-3373	282	30	1,000,000	1,000,000	NUM
fsr-3373	282	31	account	account	NOUN
fsr-3373	282	32	faces	face	VERB
fsr-3373	282	33	an	an	DET
fsr-3373	282	34	additional	additional	ADJ
fsr-3373	282	35	0.25	0.25	NUM
fsr-3373	282	36	%	%	NOUN
fsr-3373	282	37	in	in	ADP
fsr-3373	282	38	trading	trading	NOUN
fsr-3373	282	39	cost	cost	NOUN
fsr-3373	282	40	if	if	SCONJ
fsr-3373	282	41	using	use	VERB
fsr-3373	282	42	daily	daily	ADJ
fsr-3373	282	43	rebalancing	rebalancing	NOUN
fsr-3373	282	44	.	.	PUNCT
fsr-3373	283	1	table	table	NOUN
fsr-3373	283	2	8	8	NUM
fsr-3373	283	3	shows	show	VERB
fsr-3373	283	4	the	the	DET
fsr-3373	283	5	average	average	ADJ
fsr-3373	283	6	returns	return	NOUN
fsr-3373	283	7	from	from	ADP
fsr-3373	283	8	10,000	10,000	NUM
fsr-3373	283	9	bootstrapped	bootstrappe	VERB
fsr-3373	283	10	simulations	simulation	NOUN
fsr-3373	283	11	for	for	ADP
fsr-3373	283	12	the	the	DET
fsr-3373	283	13	cppi	cppi	NOUN
fsr-3373	283	14	strategies	strategy	NOUN
fsr-3373	283	15	based	base	VERB
fsr-3373	283	16	on	on	ADP
fsr-3373	283	17	the	the	DET
fsr-3373	283	18	2	2	NUM
fsr-3373	283	19	%	%	NOUN
fsr-3373	283	20	,	,	PUNCT
fsr-3373	283	21	2.5	2.5	NUM
fsr-3373	283	22	%	%	NOUN
fsr-3373	283	23	,	,	PUNCT
fsr-3373	283	24	and	and	CCONJ
fsr-3373	283	25	3.0	3.0	NUM
fsr-3373	283	26	%	%	NOUN
fsr-3373	283	27	rule	rule	NOUN
fsr-3373	283	28	along	along	ADP
fsr-3373	283	29	with	with	ADP
fsr-3373	283	30	daily	daily	ADJ
fsr-3373	283	31	,	,	PUNCT
fsr-3373	283	32	weekly	weekly	ADJ
fsr-3373	283	33	,	,	PUNCT
fsr-3373	283	34	and	and	CCONJ
fsr-3373	283	35	monthly	monthly	ADJ
fsr-3373	283	36	rebalancing	rebalancing	NOUN
fsr-3373	283	37	.	.	PUNCT
fsr-3373	284	1	weekly	weekly	ADJ
fsr-3373	284	2	rebalancing	rebalancing	NOUN
fsr-3373	284	3	is	be	AUX
fsr-3373	284	4	not	not	PART
fsr-3373	284	5	significantly	significantly	ADV
fsr-3373	284	6	different	different	ADJ
fsr-3373	284	7	from	from	ADP
fsr-3373	284	8	the	the	DET
fsr-3373	284	9	2.5	2.5	NUM
fsr-3373	284	10	%	%	NOUN
fsr-3373	284	11	rule	rule	NOUN
fsr-3373	284	12	,	,	PUNCT
fsr-3373	284	13	nor	nor	CCONJ
fsr-3373	284	14	is	be	AUX
fsr-3373	284	15	monthly	monthly	ADV
fsr-3373	284	16	worse	bad	ADJ
fsr-3373	284	17	suggesting	suggest	VERB
fsr-3373	284	18	the	the	DET
fsr-3373	284	19	decay	decay	NOUN
fsr-3373	284	20	drag	drag	VERB
fsr-3373	284	21	,	,	PUNCT
fsr-3373	284	22	even	even	ADV
fsr-3373	284	23	over	over	ADP
fsr-3373	284	24	a	a	PRON
fsr-3373	284	25	month	month	NOUN
fsr-3373	284	26	,	,	PUNCT
fsr-3373	284	27	is	be	AUX
fsr-3373	284	28	not	not	PART
fsr-3373	284	29	significant	significant	ADJ
fsr-3373	284	30	confirming	confirm	VERB
fsr-3373	284	31	lu	lu	PROPN
fsr-3373	284	32	,	,	PUNCT
fsr-3373	284	33	wang	wang	PROPN
fsr-3373	284	34	,	,	PUNCT
fsr-3373	284	35	and	and	CCONJ
fsr-3373	284	36	zhang	zhang	PROPN
fsr-3373	284	37	(	(	PUNCT
fsr-3373	284	38	2012	2012	NUM
fsr-3373	284	39	)	)	PUNCT
fsr-3373	284	40	findings	finding	NOUN
fsr-3373	284	41	that	that	SCONJ
fsr-3373	284	42	investors	investor	NOUN
fsr-3373	284	43	can	can	AUX
fsr-3373	284	44	generally	generally	ADV
fsr-3373	284	45	expect	expect	VERB
fsr-3373	284	46	to	to	PART
fsr-3373	284	47	earn	earn	VERB
fsr-3373	284	48	the	the	DET
fsr-3373	284	49	leverage	leverage	NOUN
fsr-3373	284	50	ratio	ratio	NOUN
fsr-3373	284	51	for	for	ADP
fsr-3373	284	52	up	up	ADP
fsr-3373	284	53	to	to	ADP
fsr-3373	284	54	a	a	DET
fsr-3373	284	55	month	month	NOUN
fsr-3373	284	56	.	.	PUNCT
fsr-3373	285	1	daily	daily	ADJ
fsr-3373	285	2	rebalancing	rebalancing	NOUN
fsr-3373	285	3	does	do	AUX
fsr-3373	285	4	improve	improve	VERB
fsr-3373	285	5	results	result	NOUN
fsr-3373	285	6	,	,	PUNCT
fsr-3373	285	7	but	but	CCONJ
fsr-3373	285	8	not	not	PART
fsr-3373	285	9	by	by	ADP
fsr-3373	285	10	enough	enough	ADJ
fsr-3373	285	11	to	to	PART
fsr-3373	285	12	overcome	overcome	VERB
fsr-3373	285	13	transaction	transaction	NOUN
fsr-3373	285	14	costs	cost	NOUN
fsr-3373	285	15	.	.	PUNCT
fsr-3373	286	1	with	with	ADP
fsr-3373	286	2	the	the	DET
fsr-3373	286	3	exception	exception	NOUN
fsr-3373	286	4	of	of	ADP
fsr-3373	286	5	daily	daily	ADJ
fsr-3373	286	6	rebalancing	rebalancing	NOUN
fsr-3373	286	7	,	,	PUNCT
fsr-3373	286	8	the	the	DET
fsr-3373	286	9	average	average	ADJ
fsr-3373	286	10	returns	return	NOUN
fsr-3373	286	11	for	for	ADP
fsr-3373	286	12	the	the	DET
fsr-3373	286	13	cppi	cppi	NOUN
fsr-3373	286	14	s&p	s&p	PROPN
fsr-3373	286	15	varied	varied	ADJ
fsr-3373	286	16	from	from	ADP
fsr-3373	286	17	10.01	10.01	NUM
fsr-3373	286	18	%	%	NOUN
fsr-3373	286	19	to	to	ADP
fsr-3373	286	20	10.05	10.05	NUM
fsr-3373	286	21	%	%	NOUN
fsr-3373	286	22	.	.	PUNCT
fsr-3373	287	1	the	the	DET
fsr-3373	287	2	same	same	ADJ
fsr-3373	287	3	type	type	NOUN
fsr-3373	287	4	of	of	ADP
fsr-3373	287	5	range	range	NOUN
fsr-3373	287	6	held	hold	VERB
fsr-3373	287	7	for	for	ADP
fsr-3373	287	8	the	the	DET
fsr-3373	287	9	letf	letf	ADJ
fsr-3373	287	10	cppis	cppis	ADJ
fsr-3373	287	11	.	.	PUNCT
fsr-3373	288	1	table	table	NOUN
fsr-3373	288	2	7	7	NUM
fsr-3373	288	3	bootstrapped	bootstrappe	VERB
fsr-3373	288	4	annual	annual	ADJ
fsr-3373	288	5	returns	return	NOUN
fsr-3373	288	6	sorted	sort	VERB
fsr-3373	288	7	by	by	ADP
fsr-3373	288	8	1	1	NUM
fsr-3373	288	9	-	-	PUNCT
fsr-3373	288	10	year	year	NOUN
fsr-3373	288	11	t	t	PROPN
fsr-3373	288	12	-	-	PUNCT
fsr-3373	288	13	bill	bill	NOUN
fsr-3373	288	14	return	return	NOUN
fsr-3373	288	15	and	and	CCONJ
fsr-3373	288	16	slope	slope	NOUN
fsr-3373	288	17	of	of	ADP
fsr-3373	288	18	the	the	DET
fsr-3373	288	19	yield	yield	NOUN
fsr-3373	288	20	curve	curve	NOUN
fsr-3373	288	21	s&p	s&p	PROPN
fsr-3373	288	22	s&p	s&p	PROPN
fsr-3373	288	23	2x	2x	NUM
fsr-3373	288	24	s&p	s&p	PROPN
fsr-3373	288	25	3x	3x	PROPN
fsr-3373	288	26	s&p	s&p	PROPN
fsr-3373	288	27	4x	4x	NUM
fsr-3373	288	28	cppi	cppi	PROPN
fsr-3373	288	29	s&p	s&p	PROPN
fsr-3373	288	30	cppi	cppi	NOUN
fsr-3373	288	31	2x	2x	NUM
fsr-3373	288	32	cppi	cppi	NOUN
fsr-3373	288	33	3x	3x	NUM
fsr-3373	288	34	cppi	cppi	PROPN
fsr-3373	288	35	4x	4x	PROPN
fsr-3373	288	36	t	t	PROPN
fsr-3373	288	37	-	-	PUNCT
fsr-3373	288	38	bill	bill	NOUN
fsr-3373	288	39	return	return	NOUN
fsr-3373	288	40	0–1	0–1	NOUN
fsr-3373	288	41	%	%	NOUN
fsr-3373	288	42	17.41	17.41	NUM
fsr-3373	288	43	%	%	NOUN
fsr-3373	288	44	34.46%b	34.46%b	NUM
fsr-3373	288	45	53.96%b	53.96%b	NUM
fsr-3373	288	46	74.70%b	74.70%b	NUM
fsr-3373	288	47	10.21	10.21	NUM
fsr-3373	288	48	%	%	NOUN
fsr-3373	288	49	9.81	9.81	NUM
fsr-3373	288	50	%	%	NOUN
fsr-3373	288	51	9.99	9.99	NUM
fsr-3373	288	52	%	%	NOUN
fsr-3373	288	53	10.09	10.09	NUM
fsr-3373	288	54	%	%	NOUN
fsr-3373	288	55	1–2	1–2	NUM
fsr-3373	288	56	%	%	NOUN
fsr-3373	288	57	17.92	17.92	NUM
fsr-3373	288	58	%	%	NOUN
fsr-3373	288	59	35.14%b	35.14%b	NUM
fsr-3373	288	60	55.24%b	55.24%b	PROPN
fsr-3373	289	1	77.22%b	77.22%b	NUM
fsr-3373	289	2	11.31	11.31	NUM
fsr-3373	289	3	%	%	NOUN
fsr-3373	289	4	11.05	11.05	NUM
fsr-3373	289	5	%	%	NOUN
fsr-3373	289	6	11.27	11.27	NUM
fsr-3373	289	7	%	%	NOUN
fsr-3373	289	8	11.39	11.39	NUM
fsr-3373	289	9	%	%	NOUN
fsr-3373	289	10	2–3	2–3	NUM
fsr-3373	289	11	%	%	NOUN
fsr-3373	289	12	6.62	6.62	NUM
fsr-3373	289	13	%	%	NOUN
fsr-3373	289	14	11.54%b	11.54%b	NUM
fsr-3373	289	15	19.84%b	19.84%b	NUM
fsr-3373	289	16	31.19%b	31.19%b	NUM
fsr-3373	289	17	6.06	6.06	NUM
fsr-3373	289	18	%	%	NOUN
fsr-3373	289	19	6.03	6.03	NUM
fsr-3373	289	20	%	%	NOUN
fsr-3373	289	21	6.28	6.28	NUM
fsr-3373	289	22	%	%	NOUN
fsr-3373	289	23	6.44%a	6.44%a	NOUN
fsr-3373	289	24	3–4	3–4	NUM
fsr-3373	289	25	%	%	NOUN
fsr-3373	289	26	6.87	6.87	NUM
fsr-3373	289	27	%	%	NOUN
fsr-3373	289	28	11.64%b	11.64%b	PROPN
fsr-3373	289	29	19.02%b	19.02%b	NUM
fsr-3373	289	30	28.32%b	28.32%b	NUM
fsr-3373	289	31	6.36	6.36	NUM
fsr-3373	289	32	%	%	NOUN
fsr-3373	289	33	6.60	6.60	NUM
fsr-3373	289	34	%	%	NOUN
fsr-3373	290	1	6.97%a	6.97%a	NOUN
fsr-3373	290	2	7.22%a	7.22%a	NUM
fsr-3373	290	3	4–5	4–5	NUM
fsr-3373	290	4	%	%	NOUN
fsr-3373	290	5	8.39	8.39	NUM
fsr-3373	290	6	%	%	NOUN
fsr-3373	290	7	13.59%b	13.59%b	NUM
fsr-3373	290	8	20.55%b	20.55%b	NUM
fsr-3373	290	9	28.08%b	28.08%b	NUM
fsr-3373	290	10	7.05	7.05	NUM
fsr-3373	290	11	%	%	NOUN
fsr-3373	290	12	7.38	7.38	NUM
fsr-3373	290	13	%	%	NOUN
fsr-3373	291	1	7.80%a	7.80%a	NOUN
fsr-3373	291	2	8.06%a	8.06%a	NUM
fsr-3373	291	3	5–6	5–6	NUM
fsr-3373	291	4	%	%	NOUN
fsr-3373	291	5	8.62	8.62	NUM
fsr-3373	291	6	%	%	NOUN
fsr-3373	291	7	12.45%b	12.45%b	NUM
fsr-3373	291	8	16.97%b	16.97%b	NUM
fsr-3373	291	9	20.99%b	20.99%b	NUM
fsr-3373	292	1	6.92	6.92	NUM
fsr-3373	292	2	%	%	NOUN
fsr-3373	292	3	7.37	7.37	NUM
fsr-3373	292	4	%	%	NOUN
fsr-3373	292	5	7.84%a	7.84%a	NOUN
fsr-3373	292	6	8.15%a	8.15%a	NOUN
fsr-3373	292	7	6–7	6–7	NUM
fsr-3373	292	8	%	%	NOUN
fsr-3373	292	9	13.49	13.49	NUM
fsr-3373	292	10	%	%	NOUN
fsr-3373	292	11	23.08%b	23.08%b	NUM
fsr-3373	292	12	34.69%b	34.69%b	NUM
fsr-3373	292	13	47.07%b	47.07%b	NUM
fsr-3373	292	14	10.90	10.90	NUM
fsr-3373	292	15	%	%	NOUN
fsr-3373	292	16	11.65	11.65	NUM
fsr-3373	292	17	%	%	NOUN
fsr-3373	292	18	12.26%a	12.26%a	NUM
fsr-3373	292	19	12.62%a	12.62%a	NUM
fsr-3373	292	20	�	�	NOUN
fsr-3373	292	21	7	7	NUM
fsr-3373	292	22	%	%	NOUN
fsr-3373	292	23	13.44	13.44	NUM
fsr-3373	292	24	%	%	NOUN
fsr-3373	292	25	21.32%b	21.32%b	NUM
fsr-3373	292	26	31.42%b	31.42%b	NUM
fsr-3373	292	27	42.69%b	42.69%b	NUM
fsr-3373	292	28	13.79	13.79	NUM
fsr-3373	292	29	%	%	NOUN
fsr-3373	292	30	15.43%ab	15.43%ab	NUM
fsr-3373	292	31	16.35%ab	16.35%ab	NUM
fsr-3373	292	32	16.87%ab	16.87%ab	NUM
fsr-3373	292	33	1	1	NUM
fsr-3373	292	34	year	year	NOUN
fsr-3373	292	35	to	to	ADP
fsr-3373	292	36	90	90	NUM
fsr-3373	292	37	-	-	PUNCT
fsr-3373	292	38	day	day	NOUN
fsr-3373	292	39	�	�	NOUN
fsr-3373	292	40	0	0	NUM
fsr-3373	292	41	%	%	NOUN
fsr-3373	292	42	23.47	23.47	NUM
fsr-3373	292	43	%	%	NOUN
fsr-3373	292	44	47.97%b	47.97%b	PROPN
fsr-3373	292	45	79.43%b	79.43%b	NUM
fsr-3373	292	46	117.76%b	117.76%b	PROPN
fsr-3373	292	47	17.03	17.03	NUM
fsr-3373	292	48	%	%	NOUN
fsr-3373	292	49	16.32	16.32	NUM
fsr-3373	292	50	%	%	NOUN
fsr-3373	292	51	16.51	16.51	NUM
fsr-3373	292	52	%	%	NOUN
fsr-3373	292	53	16.65	16.65	NUM
fsr-3373	292	54	%	%	NOUN
fsr-3373	292	55	0–1	0–1	NOUN
fsr-3373	292	56	%	%	NOUN
fsr-3373	292	57	12.55	12.55	NUM
fsr-3373	292	58	%	%	NOUN
fsr-3373	292	59	23.08%b	23.08%b	NUM
fsr-3373	292	60	35.23%b	35.23%b	NUM
fsr-3373	292	61	47.77%b	47.77%b	NUM
fsr-3373	292	62	7.61	7.61	NUM
fsr-3373	292	63	%	%	NOUN
fsr-3373	292	64	7.42	7.42	NUM
fsr-3373	292	65	%	%	NOUN
fsr-3373	292	66	7.64	7.64	NUM
fsr-3373	292	67	%	%	NOUN
fsr-3373	292	68	7.76	7.76	NUM
fsr-3373	292	69	%	%	NOUN
fsr-3373	292	70	1–2	1–2	NUM
fsr-3373	292	71	%	%	NOUN
fsr-3373	292	72	10.39	10.39	NUM
fsr-3373	292	73	%	%	NOUN
fsr-3373	292	74	17.51%b	17.51%b	NUM
fsr-3373	292	75	26.64%b	26.64%b	NUM
fsr-3373	292	76	36.83%b	36.83%b	NUM
fsr-3373	292	77	8.18	8.18	NUM
fsr-3373	292	78	%	%	NOUN
fsr-3373	292	79	8.43	8.43	NUM
fsr-3373	292	80	%	%	NOUN
fsr-3373	292	81	8.83%a	8.83%a	NUM
fsr-3373	292	82	9.08%a	9.08%a	NUM
fsr-3373	292	83	2–3	2–3	NUM
fsr-3373	292	84	%	%	NOUN
fsr-3373	292	85	10.48	10.48	NUM
fsr-3373	292	86	%	%	NOUN
fsr-3373	292	87	17.26%b	17.26%b	NUM
fsr-3373	292	88	26.23%b	26.23%b	NUM
fsr-3373	292	89	36.41%b	36.41%b	NUM
fsr-3373	292	90	9.41	9.41	NUM
fsr-3373	292	91	%	%	NOUN
fsr-3373	292	92	10.01	10.01	NUM
fsr-3373	292	93	%	%	NOUN
fsr-3373	292	94	10.54%a	10.54%a	NUM
fsr-3373	292	95	10.86%a	10.86%a	NUM
fsr-3373	292	96	�	�	PROPN
fsr-3373	292	97	3	3	NUM
fsr-3373	292	98	%	%	NOUN
fsr-3373	292	99	12.02	12.02	NUM
fsr-3373	292	100	%	%	NOUN
fsr-3373	292	101	19.40%b	19.40%b	NUM
fsr-3373	292	102	29.07%b	29.07%b	NUM
fsr-3373	292	103	40.00%b	40.00%b	NUM
fsr-3373	292	104	12.51	12.51	NUM
fsr-3373	292	105	%	%	NOUN
fsr-3373	292	106	14.12%ab	14.12%ab	NUM
fsr-3373	292	107	15.02%ab	15.02%ab	NOUN
fsr-3373	292	108	15.54%ab	15.54%ab	NOUN
fsr-3373	292	109	results	result	NOUN
fsr-3373	292	110	show	show	VERB
fsr-3373	292	111	average	average	ADJ
fsr-3373	292	112	annual	annual	ADJ
fsr-3373	292	113	returns	return	NOUN
fsr-3373	292	114	based	base	VERB
fsr-3373	292	115	on	on	ADP
fsr-3373	292	116	40,000	40,000	NUM
fsr-3373	292	117	bootstrapped	bootstrappe	VERB
fsr-3373	292	118	simulations	simulation	NOUN
fsr-3373	292	119	sorted	sort	VERB
fsr-3373	292	120	by	by	ADP
fsr-3373	292	121	1	1	NUM
fsr-3373	292	122	-	-	PUNCT
fsr-3373	292	123	year	year	NOUN
fsr-3373	292	124	t	t	PROPN
fsr-3373	292	125	-	-	PUNCT
fsr-3373	292	126	bill	bill	NOUN
fsr-3373	292	127	returns	return	NOUN
fsr-3373	292	128	and	and	CCONJ
fsr-3373	292	129	the	the	DET
fsr-3373	292	130	slope	slope	NOUN
fsr-3373	292	131	of	of	ADP
fsr-3373	292	132	the	the	DET
fsr-3373	292	133	yield	yield	NOUN
fsr-3373	292	134	curve	curve	NOUN
fsr-3373	292	135	measured	measure	VERB
fsr-3373	292	136	by	by	ADP
fsr-3373	292	137	the	the	DET
fsr-3373	292	138	1	1	NUM
fsr-3373	292	139	-	-	PUNCT
fsr-3373	292	140	year	year	NOUN
fsr-3373	292	141	minus	minus	CCONJ
fsr-3373	292	142	90	90	NUM
fsr-3373	292	143	-	-	PUNCT
fsr-3373	292	144	day	day	NOUN
fsr-3373	292	145	t	t	PROPN
fsr-3373	292	146	-	-	PUNCT
fsr-3373	292	147	bill	bill	NOUN
fsr-3373	292	148	return	return	NOUN
fsr-3373	292	149	.	.	PUNCT
fsr-3373	293	1	asignificantly	asignificantly	ADV
fsr-3373	293	2	different	different	ADJ
fsr-3373	293	3	from	from	ADP
fsr-3373	293	4	constant	constant	ADJ
fsr-3373	293	5	proportional	proportional	ADJ
fsr-3373	293	6	portfolio	portfolio	NOUN
fsr-3373	293	7	insurance	insurance	NOUN
fsr-3373	293	8	cppi	cppi	PROPN
fsr-3373	293	9	s&p	s&p	PROPN
fsr-3373	293	10	at	at	ADP
fsr-3373	293	11	the	the	DET
fsr-3373	293	12	5	5	NUM
fsr-3373	293	13	%	%	NOUN
fsr-3373	293	14	level	level	NOUN
fsr-3373	293	15	.	.	PUNCT
fsr-3373	294	1	bsignificantly	bsignificantly	ADV
fsr-3373	294	2	better	well	ADJ
fsr-3373	294	3	than	than	ADP
fsr-3373	294	4	the	the	DET
fsr-3373	294	5	s&p	s&p	PROPN
fsr-3373	294	6	500	500	NUM
fsr-3373	294	7	.	.	PUNCT
fsr-3373	295	1	399j	399j	NUM
fsr-3373	295	2	.	.	PUNCT
fsr-3373	296	1	george	george	PROPN
fsr-3373	296	2	,	,	PUNCT
fsr-3373	296	3	w.j	w.j	PROPN
fsr-3373	296	4	.	.	PROPN
fsr-3373	296	5	trainor	trainor	PROPN
fsr-3373	296	6	/	/	SYM
fsr-3373	296	7	financial	financial	ADJ
fsr-3373	296	8	services	service	NOUN
fsr-3373	296	9	review	review	VERB
fsr-3373	296	10	26	26	NUM
fsr-3373	296	11	(	(	PUNCT
fsr-3373	296	12	2017	2017	NUM
fsr-3373	296	13	)	)	PUNCT
fsr-3373	296	14	387–403	387–403	NUM
fsr-3373	296	15	in	in	ADP
fsr-3373	296	16	summary	summary	NOUN
fsr-3373	296	17	,	,	PUNCT
fsr-3373	296	18	the	the	DET
fsr-3373	296	19	additional	additional	ADJ
fsr-3373	296	20	return	return	NOUN
fsr-3373	296	21	from	from	ADP
fsr-3373	296	22	using	use	VERB
fsr-3373	296	23	a	a	DET
fsr-3373	296	24	letf	letf	ADJ
fsr-3373	296	25	cppi	cppi	NOUN
fsr-3373	296	26	strategy	strategy	NOUN
fsr-3373	296	27	relative	relative	ADJ
fsr-3373	296	28	to	to	ADP
fsr-3373	296	29	just	just	ADV
fsr-3373	296	30	using	use	VERB
fsr-3373	296	31	the	the	DET
fsr-3373	296	32	index	index	NOUN
fsr-3373	296	33	appears	appear	VERB
fsr-3373	296	34	robust	robust	ADJ
fsr-3373	296	35	to	to	ADP
fsr-3373	296	36	the	the	DET
fsr-3373	296	37	rebalancing	rebalancing	NOUN
fsr-3373	296	38	method	method	NOUN
fsr-3373	296	39	chosen	choose	VERB
fsr-3373	296	40	with	with	ADP
fsr-3373	296	41	a	a	DET
fsr-3373	296	42	cppi	cppi	NOUN
fsr-3373	296	43	2x	2x	NUM
fsr-3373	296	44	,	,	PUNCT
fsr-3373	296	45	cppi	cppi	NOUN
fsr-3373	296	46	3x	3x	NUM
fsr-3373	296	47	,	,	PUNCT
fsr-3373	296	48	and	and	CCONJ
fsr-3373	296	49	a	a	DET
fsr-3373	296	50	cppi	cppi	NOUN
fsr-3373	296	51	4x	4x	NUM
fsr-3373	296	52	earning	earn	VERB
fsr-3373	296	53	approximately	approximately	ADV
fsr-3373	296	54	0.5	0.5	NUM
fsr-3373	296	55	%	%	NOUN
fsr-3373	296	56	,	,	PUNCT
fsr-3373	296	57	1.0	1.0	NUM
fsr-3373	296	58	%	%	NOUN
fsr-3373	296	59	and	and	CCONJ
fsr-3373	296	60	1.3	1.3	NUM
fsr-3373	296	61	%	%	NOUN
fsr-3373	296	62	more	more	ADJ
fsr-3373	296	63	,	,	PUNCT
fsr-3373	296	64	respectively	respectively	ADV
fsr-3373	296	65	.	.	PUNCT
fsr-3373	297	1	5	5	X
fsr-3373	297	2	.	.	X
fsr-3373	297	3	conclusion	conclusion	NOUN
fsr-3373	297	4	letfs	letfs	PROPN
fsr-3373	297	5	are	be	AUX
fsr-3373	297	6	proclaimed	proclaim	VERB
fsr-3373	297	7	to	to	PART
fsr-3373	297	8	be	be	AUX
fsr-3373	297	9	risky	risky	ADJ
fsr-3373	297	10	-	-	PUNCT
fsr-3373	297	11	short	short	ADJ
fsr-3373	297	12	term	term	NOUN
fsr-3373	297	13	trading	trading	NOUN
fsr-3373	297	14	vehicles	vehicle	NOUN
fsr-3373	297	15	with	with	ADP
fsr-3373	297	16	plenty	plenty	NOUN
fsr-3373	297	17	of	of	ADP
fsr-3373	297	18	warnings	warning	NOUN
fsr-3373	297	19	,	,	PUNCT
fsr-3373	297	20	(	(	PUNCT
fsr-3373	297	21	carver	carver	NOUN
fsr-3373	297	22	,	,	PUNCT
fsr-3373	297	23	2009	2009	NUM
fsr-3373	297	24	;	;	PUNCT
fsr-3373	297	25	justice	justice	NOUN
fsr-3373	297	26	,	,	PUNCT
fsr-3373	297	27	2009	2009	NUM
fsr-3373	297	28	;	;	PUNCT
fsr-3373	297	29	zweig	zweig	NOUN
fsr-3373	297	30	,	,	PUNCT
fsr-3373	297	31	2009	2009	NUM
fsr-3373	297	32	,	,	PUNCT
fsr-3373	297	33	2017	2017	NUM
fsr-3373	297	34	)	)	PUNCT
fsr-3373	297	35	.	.	PUNCT
fsr-3373	298	1	as	as	ADP
fsr-3373	298	2	an	an	DET
fsr-3373	298	3	individual	individual	ADJ
fsr-3373	298	4	asset	asset	NOUN
fsr-3373	298	5	,	,	PUNCT
fsr-3373	298	6	there	there	PRON
fsr-3373	298	7	is	be	VERB
fsr-3373	298	8	no	no	DET
fsr-3373	298	9	denying	deny	VERB
fsr-3373	298	10	the	the	DET
fsr-3373	298	11	extremes	extreme	NOUN
fsr-3373	298	12	that	that	PRON
fsr-3373	298	13	can	can	AUX
fsr-3373	298	14	be	be	AUX
fsr-3373	298	15	experienced	experience	VERB
fsr-3373	298	16	by	by	ADP
fsr-3373	298	17	buy	buy	NOUN
fsr-3373	298	18	-	-	PUNCT
fsr-3373	298	19	and	and	CCONJ
fsr-3373	298	20	-	-	PUNCT
fsr-3373	298	21	hold	hold	VERB
fsr-3373	298	22	investors	investor	NOUN
fsr-3373	298	23	.	.	PUNCT
fsr-3373	299	1	however	however	ADV
fsr-3373	299	2	,	,	PUNCT
fsr-3373	299	3	more	more	ADV
fsr-3373	299	4	active	active	ADJ
fsr-3373	299	5	traders	trader	NOUN
fsr-3373	299	6	can	can	AUX
fsr-3373	299	7	moderate	moderate	VERB
fsr-3373	299	8	this	this	DET
fsr-3373	299	9	risk	risk	NOUN
fsr-3373	299	10	by	by	ADP
fsr-3373	299	11	periodic	periodic	ADJ
fsr-3373	299	12	rebalancing	rebalancing	NOUN
fsr-3373	299	13	which	which	PRON
fsr-3373	299	14	fits	fit	VERB
fsr-3373	299	15	in	in	ADP
fsr-3373	299	16	perfectly	perfectly	ADV
fsr-3373	299	17	with	with	ADP
fsr-3373	299	18	a	a	DET
fsr-3373	299	19	cppi	cppi	NOUN
fsr-3373	299	20	strategy	strategy	NOUN
fsr-3373	299	21	.	.	PUNCT
fsr-3373	300	1	by	by	ADP
fsr-3373	300	2	managing	manage	VERB
fsr-3373	300	3	the	the	DET
fsr-3373	300	4	exposure	exposure	NOUN
fsr-3373	300	5	as	as	ADP
fsr-3373	300	6	letfs	letfs	PROPN
fsr-3373	300	7	change	change	NOUN
fsr-3373	300	8	in	in	ADP
fsr-3373	300	9	value	value	NOUN
fsr-3373	300	10	,	,	PUNCT
fsr-3373	300	11	downside	downside	ADJ
fsr-3373	300	12	losses	loss	NOUN
fsr-3373	300	13	can	can	AUX
fsr-3373	300	14	be	be	AUX
fsr-3373	300	15	mitigated	mitigate	VERB
fsr-3373	300	16	.	.	PUNCT
fsr-3373	301	1	one	one	NUM
fsr-3373	301	2	of	of	ADP
fsr-3373	301	3	the	the	DET
fsr-3373	301	4	disadvantages	disadvantage	NOUN
fsr-3373	301	5	of	of	ADP
fsr-3373	301	6	a	a	DET
fsr-3373	301	7	cppi	cppi	NOUN
fsr-3373	301	8	is	be	AUX
fsr-3373	301	9	the	the	DET
fsr-3373	301	10	need	need	NOUN
fsr-3373	301	11	for	for	ADP
fsr-3373	301	12	constant	constant	ADJ
fsr-3373	301	13	rebalancing	rebalancing	NOUN
fsr-3373	301	14	.	.	PUNCT
fsr-3373	302	1	however	however	ADV
fsr-3373	302	2	,	,	PUNCT
fsr-3373	302	3	with	with	ADP
fsr-3373	302	4	only	only	ADJ
fsr-3373	302	5	periodic	periodic	ADJ
fsr-3373	302	6	rebalancing	rebalancing	NOUN
fsr-3373	302	7	based	base	VERB
fsr-3373	302	8	on	on	ADP
fsr-3373	302	9	market	market	NOUN
fsr-3373	302	10	movements	movement	NOUN
fsr-3373	302	11	,	,	PUNCT
fsr-3373	302	12	this	this	DET
fsr-3373	302	13	study	study	NOUN
fsr-3373	302	14	shows	show	VERB
fsr-3373	302	15	using	use	VERB
fsr-3373	302	16	letfs	letfs	PROPN
fsr-3373	302	17	instead	instead	ADV
fsr-3373	302	18	of	of	ADP
fsr-3373	302	19	the	the	DET
fsr-3373	302	20	underlying	underlie	VERB
fsr-3373	302	21	risky	risky	ADJ
fsr-3373	302	22	asset	asset	NOUN
fsr-3373	302	23	in	in	ADP
fsr-3373	302	24	a	a	DET
fsr-3373	302	25	cppi	cppi	NOUN
fsr-3373	302	26	portfolio	portfolio	NOUN
fsr-3373	302	27	leads	lead	VERB
fsr-3373	302	28	to	to	ADP
fsr-3373	302	29	greater	great	ADJ
fsr-3373	302	30	returns	return	NOUN
fsr-3373	302	31	with	with	ADP
fsr-3373	302	32	less	less	ADJ
fsr-3373	302	33	risk	risk	NOUN
fsr-3373	302	34	.	.	PUNCT
fsr-3373	303	1	this	this	DET
fsr-3373	303	2	outcome	outcome	NOUN
fsr-3373	303	3	is	be	AUX
fsr-3373	303	4	possible	possible	ADJ
fsr-3373	303	5	because	because	SCONJ
fsr-3373	303	6	the	the	DET
fsr-3373	303	7	same	same	ADJ
fsr-3373	303	8	amount	amount	NOUN
fsr-3373	303	9	of	of	ADP
fsr-3373	303	10	exposure	exposure	NOUN
fsr-3373	303	11	to	to	ADP
fsr-3373	303	12	the	the	DET
fsr-3373	303	13	risky	risky	ADJ
fsr-3373	303	14	asset	asset	NOUN
fsr-3373	303	15	can	can	AUX
fsr-3373	303	16	be	be	AUX
fsr-3373	303	17	attained	attain	VERB
fsr-3373	303	18	with	with	ADP
fsr-3373	303	19	a	a	DET
fsr-3373	303	20	smaller	small	ADJ
fsr-3373	303	21	percentage	percentage	NOUN
fsr-3373	303	22	of	of	ADP
fsr-3373	303	23	the	the	DET
fsr-3373	303	24	portfolio	portfolio	NOUN
fsr-3373	303	25	,	,	PUNCT
fsr-3373	303	26	leaving	leave	VERB
fsr-3373	303	27	a	a	DET
fsr-3373	303	28	larger	large	ADJ
fsr-3373	303	29	amount	amount	NOUN
fsr-3373	303	30	available	available	ADJ
fsr-3373	303	31	to	to	PART
fsr-3373	303	32	earn	earn	VERB
fsr-3373	303	33	the	the	DET
fsr-3373	303	34	risk	risk	NOUN
fsr-3373	303	35	-	-	PUNCT
fsr-3373	303	36	free	free	ADJ
fsr-3373	303	37	rate	rate	NOUN
fsr-3373	303	38	.	.	PUNCT
fsr-3373	304	1	if	if	SCONJ
fsr-3373	304	2	the	the	DET
fsr-3373	304	3	return	return	NOUN
fsr-3373	304	4	from	from	ADP
fsr-3373	304	5	the	the	DET
fsr-3373	304	6	additional	additional	ADJ
fsr-3373	304	7	amount	amount	NOUN
fsr-3373	304	8	in	in	ADP
fsr-3373	304	9	the	the	DET
fsr-3373	304	10	risk	risk	NOUN
fsr-3373	304	11	-	-	PUNCT
fsr-3373	304	12	free	free	ADJ
fsr-3373	304	13	asset	asset	NOUN
fsr-3373	304	14	exceeds	exceed	VERB
fsr-3373	304	15	the	the	DET
fsr-3373	304	16	letf	letf	ADJ
fsr-3373	304	17	decay	decay	NOUN
fsr-3373	304	18	and	and	CCONJ
fsr-3373	304	19	higher	high	ADJ
fsr-3373	304	20	expenses	expense	NOUN
fsr-3373	304	21	,	,	PUNCT
fsr-3373	304	22	the	the	DET
fsr-3373	304	23	letf	letf	ADJ
fsr-3373	304	24	cppi	cppi	NOUN
fsr-3373	304	25	will	will	AUX
fsr-3373	304	26	outperform	outperform	VERB
fsr-3373	304	27	.	.	PUNCT
fsr-3373	305	1	results	result	NOUN
fsr-3373	305	2	suggest	suggest	VERB
fsr-3373	305	3	risk	risk	NOUN
fsr-3373	305	4	-	-	PUNCT
fsr-3373	305	5	free	free	ADJ
fsr-3373	305	6	yields	yield	NOUN
fsr-3373	305	7	of	of	ADP
fsr-3373	305	8	3	3	NUM
fsr-3373	305	9	%	%	NOUN
fsr-3373	305	10	or	or	CCONJ
fsr-3373	305	11	if	if	SCONJ
fsr-3373	305	12	the	the	DET
fsr-3373	305	13	one	one	NUM
fsr-3373	305	14	-	-	PUNCT
fsr-3373	305	15	year	year	NOUN
fsr-3373	305	16	exceeds	exceed	VERB
fsr-3373	305	17	the	the	DET
fsr-3373	305	18	90	90	NUM
fsr-3373	305	19	-	-	PUNCT
fsr-3373	305	20	day	day	NOUN
fsr-3373	305	21	treasury	treasury	NOUN
fsr-3373	305	22	by	by	ADP
fsr-3373	305	23	more	more	ADJ
fsr-3373	305	24	than	than	ADP
fsr-3373	305	25	1	1	NUM
fsr-3373	305	26	%	%	NOUN
fsr-3373	305	27	appear	appear	VERB
fsr-3373	305	28	to	to	PART
fsr-3373	305	29	be	be	AUX
fsr-3373	305	30	sufficient	sufficient	ADJ
fsr-3373	305	31	for	for	SCONJ
fsr-3373	305	32	letf	letf	ADJ
fsr-3373	305	33	cppis	cppis	ADJ
fsr-3373	305	34	to	to	PART
fsr-3373	305	35	outperform	outperform	VERB
fsr-3373	305	36	a	a	DET
fsr-3373	305	37	standard	standard	ADJ
fsr-3373	305	38	cppi	cppi	NOUN
fsr-3373	305	39	using	use	VERB
fsr-3373	305	40	the	the	DET
fsr-3373	305	41	index	index	NOUN
fsr-3373	305	42	itself	itself	PRON
fsr-3373	305	43	.	.	PUNCT
fsr-3373	306	1	both	both	PRON
fsr-3373	306	2	simulated	simulate	VERB
fsr-3373	306	3	results	result	NOUN
fsr-3373	306	4	from	from	ADP
fsr-3373	306	5	1947	1947	NUM
fsr-3373	306	6	to	to	ADP
fsr-3373	306	7	2016	2016	NUM
fsr-3373	306	8	and	and	CCONJ
fsr-3373	306	9	bootstrapped	bootstrappe	VERB
fsr-3373	306	10	data	datum	NOUN
fsr-3373	306	11	show	show	VERB
fsr-3373	306	12	cppi	cppi	NOUN
fsr-3373	306	13	strategies	strategy	NOUN
fsr-3373	306	14	created	create	VERB
fsr-3373	306	15	with	with	ADP
fsr-3373	306	16	letfs	letfs	PROPN
fsr-3373	306	17	outperform	outperform	VERB
fsr-3373	306	18	a	a	DET
fsr-3373	306	19	cppi	cppi	NOUN
fsr-3373	306	20	strategy	strategy	NOUN
fsr-3373	306	21	using	use	VERB
fsr-3373	306	22	the	the	DET
fsr-3373	306	23	underlying	underlying	ADJ
fsr-3373	306	24	index	index	NOUN
fsr-3373	306	25	.	.	PUNCT
fsr-3373	307	1	average	average	ADJ
fsr-3373	307	2	annual	annual	ADJ
fsr-3373	307	3	returns	return	NOUN
fsr-3373	307	4	over	over	ADP
fsr-3373	307	5	all	all	DET
fsr-3373	307	6	interest	interest	NOUN
fsr-3373	307	7	rate	rate	NOUN
fsr-3373	307	8	environments	environment	NOUN
fsr-3373	307	9	are	be	AUX
fsr-3373	307	10	0.5	0.5	NUM
fsr-3373	307	11	%	%	NOUN
fsr-3373	307	12	to	to	PART
fsr-3373	307	13	1.3	1.3	NUM
fsr-3373	307	14	%	%	NOUN
fsr-3373	307	15	higher	high	ADJ
fsr-3373	307	16	with	with	ADP
fsr-3373	307	17	better	well	ADJ
fsr-3373	307	18	minimums	minimum	NOUN
fsr-3373	307	19	,	,	PUNCT
fsr-3373	307	20	sharpe	sharpe	PROPN
fsr-3373	307	21	ratios	ratio	NOUN
fsr-3373	307	22	,	,	PUNCT
fsr-3373	307	23	sortino	sortino	ADJ
fsr-3373	307	24	ratios	ratio	NOUN
fsr-3373	307	25	,	,	PUNCT
fsr-3373	307	26	omegas	omega	NOUN
fsr-3373	307	27	,	,	PUNCT
fsr-3373	307	28	vars	var	NOUN
fsr-3373	307	29	,	,	PUNCT
fsr-3373	307	30	es	es	NOUN
fsr-3373	307	31	,	,	PUNCT
fsr-3373	307	32	and	and	CCONJ
fsr-3373	307	33	cpvs	cpv	NOUN
fsr-3373	307	34	.	.	PUNCT
fsr-3373	308	1	using	use	VERB
fsr-3373	308	2	letfs	letfs	PROPN
fsr-3373	308	3	in	in	ADP
fsr-3373	308	4	a	a	DET
fsr-3373	308	5	cppi	cppi	NOUN
fsr-3373	308	6	strategy	strategy	NOUN
fsr-3373	308	7	will	will	AUX
fsr-3373	308	8	underperform	underperform	VERB
fsr-3373	308	9	slightly	slightly	ADV
fsr-3373	308	10	when	when	SCONJ
fsr-3373	308	11	the	the	DET
fsr-3373	308	12	risk	risk	NOUN
fsr-3373	308	13	-	-	PUNCT
fsr-3373	308	14	free	free	ADJ
fsr-3373	308	15	rate	rate	NOUN
fsr-3373	308	16	is	be	AUX
fsr-3373	308	17	extremely	extremely	ADV
fsr-3373	308	18	low	low	ADJ
fsr-3373	308	19	as	as	SCONJ
fsr-3373	308	20	it	it	PRON
fsr-3373	308	21	has	have	AUX
fsr-3373	308	22	been	be	AUX
fsr-3373	308	23	for	for	ADP
fsr-3373	308	24	the	the	DET
fsr-3373	308	25	last	last	ADJ
fsr-3373	308	26	seven	seven	NUM
fsr-3373	308	27	years	year	NOUN
fsr-3373	308	28	with	with	ADP
fsr-3373	308	29	the	the	DET
fsr-3373	308	30	yield	yield	NOUN
fsr-3373	308	31	below	below	ADP
fsr-3373	308	32	1	1	NUM
fsr-3373	308	33	%	%	NOUN
fsr-3373	308	34	.	.	PUNCT
fsr-3373	309	1	there	there	PRON
fsr-3373	309	2	is	be	VERB
fsr-3373	309	3	simply	simply	ADV
fsr-3373	309	4	no	no	DET
fsr-3373	309	5	additional	additional	ADJ
fsr-3373	309	6	return	return	NOUN
fsr-3373	309	7	from	from	ADP
fsr-3373	309	8	having	have	VERB
fsr-3373	309	9	a	a	DET
fsr-3373	309	10	greater	great	ADJ
fsr-3373	309	11	percentage	percentage	NOUN
fsr-3373	309	12	of	of	ADP
fsr-3373	309	13	wealth	wealth	NOUN
fsr-3373	309	14	in	in	ADP
fsr-3373	309	15	the	the	DET
fsr-3373	309	16	risk	risk	NOUN
fsr-3373	309	17	-	-	PUNCT
fsr-3373	309	18	free	free	ADJ
fsr-3373	309	19	rate	rate	NOUN
fsr-3373	309	20	to	to	PART
fsr-3373	309	21	compensate	compensate	VERB
fsr-3373	309	22	for	for	ADP
fsr-3373	309	23	letfs	letfs	PROPN
fsr-3373	309	24	higher	high	ADJ
fsr-3373	309	25	expenses	expense	NOUN
fsr-3373	309	26	and	and	CCONJ
fsr-3373	309	27	leverage	leverage	NOUN
fsr-3373	309	28	decay	decay	NOUN
fsr-3373	309	29	.	.	PUNCT
fsr-3373	310	1	table	table	NOUN
fsr-3373	310	2	8	8	NUM
fsr-3373	310	3	average	average	ADJ
fsr-3373	310	4	annual	annual	ADJ
fsr-3373	310	5	returns	return	NOUN
fsr-3373	310	6	for	for	ADP
fsr-3373	310	7	different	different	ADJ
fsr-3373	310	8	rebalancing	rebalancing	NOUN
fsr-3373	310	9	rules	rule	NOUN
fsr-3373	310	10	rebalance	rebalance	NOUN
fsr-3373	310	11	avg	avg	PROPN
fsr-3373	310	12	.	.	PUNCT
fsr-3373	311	1	no	no	INTJ
fsr-3373	311	2	.	.	PUNCT
fsr-3373	312	1	of	of	ADP
fsr-3373	312	2	trades	trade	NOUN
fsr-3373	312	3	s&p	s&p	PROPN
fsr-3373	312	4	cppi	cppi	PROPN
fsr-3373	312	5	s&p	s&p	PROPN
fsr-3373	312	6	cppi	cppi	NOUN
fsr-3373	312	7	2x	2x	NUM
fsr-3373	312	8	cppi	cppi	NOUN
fsr-3373	312	9	3x	3x	NUM
fsr-3373	312	10	cppi	cppi	NOUN
fsr-3373	312	11	4x	4x	NUM
fsr-3373	312	12	2	2	NUM
fsr-3373	312	13	%	%	NOUN
fsr-3373	312	14	rule	rule	NOUN
fsr-3373	312	15	31	31	NUM
fsr-3373	312	16	12.33	12.33	NUM
fsr-3373	312	17	%	%	NOUN
fsr-3373	312	18	10.04	10.04	NUM
fsr-3373	312	19	%	%	NOUN
fsr-3373	312	20	10.53	10.53	NUM
fsr-3373	312	21	%	%	NOUN
fsr-3373	312	22	11.01%a	11.01%a	NUM
fsr-3373	312	23	11.28%a	11.28%a	NUM
fsr-3373	312	24	2.5	2.5	NUM
fsr-3373	312	25	%	%	NOUN
fsr-3373	312	26	rule	rule	VERB
fsr-3373	312	27	23	23	NUM
fsr-3373	312	28	12.31	12.31	NUM
fsr-3373	312	29	%	%	NOUN
fsr-3373	312	30	10.01	10.01	NUM
fsr-3373	312	31	%	%	NOUN
fsr-3373	312	32	10.53	10.53	NUM
fsr-3373	312	33	%	%	NOUN
fsr-3373	312	34	11.03%a	11.03%a	PROPN
fsr-3373	312	35	11.32%a	11.32%a	NUM
fsr-3373	312	36	3.0	3.0	NUM
fsr-3373	312	37	%	%	NOUN
fsr-3373	312	38	rule	rule	NOUN
fsr-3373	312	39	17	17	NUM
fsr-3373	312	40	12.35	12.35	NUM
fsr-3373	312	41	%	%	NOUN
fsr-3373	312	42	10.05	10.05	NUM
fsr-3373	312	43	%	%	NOUN
fsr-3373	312	44	10.52	10.52	NUM
fsr-3373	312	45	%	%	NOUN
fsr-3373	312	46	10.98%a	10.98%a	PROPN
fsr-3373	312	47	11.24%a	11.24%a	NUM
fsr-3373	312	48	daily	daily	ADV
fsr-3373	312	49	252	252	NUM
fsr-3373	312	50	12.30	12.30	NUM
fsr-3373	312	51	%	%	NOUN
fsr-3373	312	52	10.27	10.27	NUM
fsr-3373	312	53	%	%	NOUN
fsr-3373	312	54	10.74	10.74	NUM
fsr-3373	312	55	%	%	NOUN
fsr-3373	312	56	11.17%a	11.17%a	PROPN
fsr-3373	312	57	11.39%a	11.39%a	NUM
fsr-3373	312	58	weekly	weekly	ADJ
fsr-3373	312	59	50	50	NUM
fsr-3373	312	60	12.28	12.28	NUM
fsr-3373	312	61	%	%	NOUN
fsr-3373	312	62	10.03	10.03	NUM
fsr-3373	312	63	%	%	NOUN
fsr-3373	312	64	10.53	10.53	NUM
fsr-3373	312	65	%	%	NOUN
fsr-3373	312	66	11.00%a	11.00%a	NUM
fsr-3373	312	67	11.28%a	11.28%a	NUM
fsr-3373	312	68	monthly	monthly	ADJ
fsr-3373	312	69	12	12	NUM
fsr-3373	312	70	12.34	12.34	NUM
fsr-3373	312	71	%	%	NOUN
fsr-3373	312	72	10.01	10.01	NUM
fsr-3373	312	73	%	%	NOUN
fsr-3373	312	74	10.50	10.50	NUM
fsr-3373	312	75	%	%	NOUN
fsr-3373	312	76	10.95%a	10.95%a	NUM
fsr-3373	312	77	11.22%a	11.22%a	NUM
fsr-3373	312	78	results	result	NOUN
fsr-3373	312	79	show	show	VERB
fsr-3373	312	80	average	average	ADJ
fsr-3373	312	81	annual	annual	ADJ
fsr-3373	312	82	returns	return	NOUN
fsr-3373	312	83	based	base	VERB
fsr-3373	312	84	on	on	ADP
fsr-3373	312	85	10,000	10,000	NUM
fsr-3373	312	86	bootstrapped	bootstrappe	VERB
fsr-3373	312	87	simulations	simulation	NOUN
fsr-3373	312	88	for	for	ADP
fsr-3373	312	89	the	the	DET
fsr-3373	312	90	s&p	s&p	PROPN
fsr-3373	312	91	500	500	NUM
fsr-3373	312	92	along	along	ADP
fsr-3373	312	93	with	with	ADP
fsr-3373	312	94	four	four	NUM
fsr-3373	312	95	constant	constant	ADJ
fsr-3373	312	96	proportional	proportional	ADJ
fsr-3373	312	97	portfolio	portfolio	NOUN
fsr-3373	312	98	insurance	insurance	NOUN
fsr-3373	312	99	(	(	PUNCT
fsr-3373	312	100	cppi	cppi	NOUN
fsr-3373	312	101	)	)	PUNCT
fsr-3373	312	102	strategies	strategy	NOUN
fsr-3373	312	103	based	base	VERB
fsr-3373	312	104	on	on	ADP
fsr-3373	312	105	various	various	ADJ
fsr-3373	312	106	rebalancing	rebalancing	NOUN
fsr-3373	312	107	rules	rule	NOUN
fsr-3373	312	108	.	.	PUNCT
fsr-3373	313	1	percentage	percentage	NOUN
fsr-3373	313	2	rules	rule	NOUN
fsr-3373	313	3	based	base	VERB
fsr-3373	313	4	on	on	ADP
fsr-3373	313	5	absolute	absolute	ADJ
fsr-3373	313	6	return	return	NOUN
fsr-3373	313	7	of	of	ADP
fsr-3373	313	8	the	the	DET
fsr-3373	313	9	s&p	s&p	PROPN
fsr-3373	313	10	500	500	NUM
fsr-3373	313	11	relative	relative	ADJ
fsr-3373	313	12	to	to	ADP
fsr-3373	313	13	previous	previous	ADJ
fsr-3373	313	14	rebalance	rebalance	NOUN
fsr-3373	313	15	.	.	PUNCT
fsr-3373	314	1	asignificantly	asignificantly	ADV
fsr-3373	314	2	better	well	ADV
fsr-3373	314	3	than	than	ADP
fsr-3373	314	4	the	the	DET
fsr-3373	314	5	cppi	cppi	NOUN
fsr-3373	314	6	s&p	s&p	PROPN
fsr-3373	314	7	at	at	ADP
fsr-3373	314	8	the	the	DET
fsr-3373	314	9	5	5	NUM
fsr-3373	314	10	%	%	NOUN
fsr-3373	314	11	level	level	NOUN
fsr-3373	314	12	.	.	PUNCT
fsr-3373	315	1	400	400	NUM
fsr-3373	315	2	j.	j.	PROPN
fsr-3373	315	3	george	george	PROPN
fsr-3373	315	4	,	,	PUNCT
fsr-3373	315	5	w.j	w.j	PROPN
fsr-3373	315	6	.	.	PROPN
fsr-3373	315	7	trainor	trainor	PROPN
fsr-3373	315	8	/	/	SYM
fsr-3373	315	9	financial	financial	ADJ
fsr-3373	315	10	services	service	NOUN
fsr-3373	315	11	review	review	VERB
fsr-3373	315	12	26	26	NUM
fsr-3373	315	13	(	(	PUNCT
fsr-3373	315	14	2017	2017	NUM
fsr-3373	315	15	)	)	PUNCT
fsr-3373	315	16	387–403	387–403	NUM
fsr-3373	315	17	for	for	ADP
fsr-3373	315	18	the	the	DET
fsr-3373	315	19	less	less	ADJ
fsr-3373	315	20	risk	risk	NOUN
fsr-3373	315	21	averse	averse	ADJ
fsr-3373	315	22	,	,	PUNCT
fsr-3373	315	23	more	more	ADV
fsr-3373	315	24	aggressive	aggressive	ADJ
fsr-3373	315	25	cppi	cppi	NOUN
fsr-3373	315	26	portfolios	portfolio	NOUN
fsr-3373	315	27	could	could	AUX
fsr-3373	315	28	be	be	AUX
fsr-3373	315	29	created	create	VERB
fsr-3373	315	30	by	by	ADP
fsr-3373	315	31	using	use	VERB
fsr-3373	315	32	a	a	DET
fsr-3373	315	33	smaller	small	ADJ
fsr-3373	315	34	multiplier	multipli	ADJ
fsr-3373	315	35	,	,	PUNCT
fsr-3373	315	36	lower	low	ADJ
fsr-3373	315	37	floors	floor	NOUN
fsr-3373	315	38	,	,	PUNCT
fsr-3373	315	39	letting	let	VERB
fsr-3373	315	40	the	the	DET
fsr-3373	315	41	amount	amount	NOUN
fsr-3373	315	42	in	in	ADP
fsr-3373	315	43	the	the	DET
fsr-3373	315	44	2x	2x	NUM
fsr-3373	315	45	,	,	PUNCT
fsr-3373	315	46	3x	3x	NUM
fsr-3373	315	47	,	,	PUNCT
fsr-3373	315	48	or	or	CCONJ
fsr-3373	315	49	4x	4x	NUM
fsr-3373	315	50	letfs	letfs	PROPN
fsr-3373	315	51	exceed	exceed	VERB
fsr-3373	315	52	50	50	NUM
fsr-3373	315	53	%	%	NOUN
fsr-3373	315	54	,	,	PUNCT
fsr-3373	315	55	33	33	NUM
fsr-3373	315	56	%	%	NOUN
fsr-3373	315	57	,	,	PUNCT
fsr-3373	315	58	or	or	CCONJ
fsr-3373	315	59	25	25	NUM
fsr-3373	315	60	%	%	NOUN
fsr-3373	315	61	,	,	PUNCT
fsr-3373	315	62	respectively	respectively	ADV
fsr-3373	315	63	,	,	PUNCT
fsr-3373	315	64	and/or	and/or	CCONJ
fsr-3373	315	65	using	use	VERB
fsr-3373	315	66	a	a	DET
fsr-3373	315	67	more	more	ADV
fsr-3373	315	68	risky	risky	ADJ
fsr-3373	315	69	“	"	PUNCT
fsr-3373	315	70	risk	risk	NOUN
fsr-3373	315	71	-	-	PUNCT
fsr-3373	315	72	free	free	ADJ
fsr-3373	315	73	”	"	PUNCT
fsr-3373	315	74	asset	asset	NOUN
fsr-3373	315	75	such	such	ADJ
fsr-3373	315	76	as	as	ADP
fsr-3373	315	77	longer	long	ADJ
fsr-3373	315	78	-	-	PUNCT
fsr-3373	315	79	term	term	NOUN
fsr-3373	315	80	treasuries	treasury	NOUN
fsr-3373	315	81	or	or	CCONJ
fsr-3373	315	82	some	some	DET
fsr-3373	315	83	type	type	NOUN
fsr-3373	315	84	of	of	ADP
fsr-3373	315	85	composite	composite	ADJ
fsr-3373	315	86	bond	bond	NOUN
fsr-3373	315	87	etf	etf	NOUN
fsr-3373	315	88	as	as	SCONJ
fsr-3373	315	89	demonstrated	demonstrate	VERB
fsr-3373	315	90	in	in	ADP
fsr-3373	315	91	the	the	DET
fsr-3373	315	92	last	last	ADJ
fsr-3373	315	93	two	two	NUM
fsr-3373	315	94	columns	column	NOUN
fsr-3373	315	95	of	of	ADP
fsr-3373	315	96	table	table	NOUN
fsr-3373	315	97	5	5	NUM
fsr-3373	315	98	where	where	SCONJ
fsr-3373	315	99	a	a	DET
fsr-3373	315	100	bond	bond	NOUN
fsr-3373	315	101	etf	etf	NOUN
fsr-3373	315	102	was	be	AUX
fsr-3373	315	103	substituted	substitute	VERB
fsr-3373	315	104	for	for	ADP
fsr-3373	315	105	the	the	DET
fsr-3373	315	106	one	one	NUM
fsr-3373	315	107	-	-	PUNCT
fsr-3373	315	108	year	year	NOUN
fsr-3373	315	109	treasury	treasury	NOUN
fsr-3373	315	110	.	.	PUNCT
fsr-3373	316	1	the	the	DET
fsr-3373	316	2	latter	latter	ADJ
fsr-3373	316	3	adjustment	adjustment	NOUN
fsr-3373	316	4	is	be	AUX
fsr-3373	316	5	likely	likely	ADJ
fsr-3373	316	6	the	the	DET
fsr-3373	316	7	safest	safe	ADJ
fsr-3373	316	8	when	when	SCONJ
fsr-3373	316	9	yields	yield	NOUN
fsr-3373	316	10	are	be	AUX
fsr-3373	316	11	extremely	extremely	ADV
fsr-3373	316	12	low	low	ADJ
fsr-3373	316	13	,	,	PUNCT
fsr-3373	316	14	while	while	SCONJ
fsr-3373	316	15	allowing	allow	VERB
fsr-3373	316	16	the	the	DET
fsr-3373	316	17	amount	amount	NOUN
fsr-3373	316	18	in	in	ADP
fsr-3373	316	19	the	the	DET
fsr-3373	316	20	letf	letf	NOUN
fsr-3373	316	21	to	to	PART
fsr-3373	316	22	increase	increase	VERB
fsr-3373	316	23	up	up	ADP
fsr-3373	316	24	to	to	PART
fsr-3373	316	25	100	100	NUM
fsr-3373	316	26	%	%	NOUN
fsr-3373	316	27	is	be	AUX
fsr-3373	316	28	certainly	certainly	ADV
fsr-3373	316	29	the	the	DET
fsr-3373	316	30	riskiest	risky	ADJ
fsr-3373	316	31	.	.	PUNCT
fsr-3373	317	1	two	two	NUM
fsr-3373	317	2	days	day	NOUN
fsr-3373	317	3	like	like	ADP
fsr-3373	317	4	october	october	PROPN
fsr-3373	317	5	16	16	NUM
fsr-3373	317	6	and	and	CCONJ
fsr-3373	317	7	october	october	PROPN
fsr-3373	317	8	19	19	NUM
fsr-3373	317	9	,	,	PUNCT
fsr-3373	317	10	1987	1987	NUM
fsr-3373	317	11	when	when	SCONJ
fsr-3373	317	12	the	the	DET
fsr-3373	317	13	market	market	NOUN
fsr-3373	317	14	fell	fall	VERB
fsr-3373	317	15	5.1	5.1	NUM
fsr-3373	317	16	%	%	NOUN
fsr-3373	317	17	then	then	ADV
fsr-3373	317	18	19.5	19.5	NUM
fsr-3373	317	19	%	%	NOUN
fsr-3373	317	20	would	would	AUX
fsr-3373	317	21	see	see	VERB
fsr-3373	317	22	a	a	DET
fsr-3373	317	23	cppi	cppi	NOUN
fsr-3373	317	24	4x	4x	PRON
fsr-3373	317	25	lose	lose	VERB
fsr-3373	317	26	84	84	NUM
fsr-3373	317	27	%	%	NOUN
fsr-3373	317	28	of	of	ADP
fsr-3373	317	29	its	its	PRON
fsr-3373	317	30	value	value	NOUN
fsr-3373	317	31	if	if	SCONJ
fsr-3373	317	32	exposure	exposure	NOUN
fsr-3373	317	33	to	to	ADP
fsr-3373	317	34	a	a	DET
fsr-3373	317	35	4x	4x	NUM
fsr-3373	317	36	letf	letf	NOUN
fsr-3373	317	37	is	be	AUX
fsr-3373	317	38	allowed	allow	VERB
fsr-3373	317	39	to	to	PART
fsr-3373	317	40	increase	increase	VERB
fsr-3373	317	41	to	to	ADP
fsr-3373	317	42	100	100	NUM
fsr-3373	317	43	%	%	NOUN
fsr-3373	317	44	.	.	PUNCT
fsr-3373	318	1	this	this	PRON
fsr-3373	318	2	would	would	AUX
fsr-3373	318	3	seem	seem	VERB
fsr-3373	318	4	to	to	PART
fsr-3373	318	5	defeat	defeat	VERB
fsr-3373	318	6	the	the	DET
fsr-3373	318	7	purpose	purpose	NOUN
fsr-3373	318	8	of	of	ADP
fsr-3373	318	9	a	a	DET
fsr-3373	318	10	cppi	cppi	NOUN
fsr-3373	318	11	strategy	strategy	NOUN
fsr-3373	318	12	in	in	ADP
fsr-3373	318	13	the	the	DET
fsr-3373	318	14	first	first	ADJ
fsr-3373	318	15	place	place	NOUN
fsr-3373	318	16	.	.	PUNCT
fsr-3373	319	1	letfs	letfs	PROPN
fsr-3373	319	2	are	be	AUX
fsr-3373	319	3	relatively	relatively	ADV
fsr-3373	319	4	new	new	ADJ
fsr-3373	319	5	instruments	instrument	NOUN
fsr-3373	319	6	.	.	PUNCT
fsr-3373	320	1	the	the	DET
fsr-3373	320	2	reception	reception	NOUN
fsr-3373	320	3	from	from	ADP
fsr-3373	320	4	investors	investor	NOUN
fsr-3373	320	5	has	have	AUX
fsr-3373	320	6	been	be	AUX
fsr-3373	320	7	mostly	mostly	ADV
fsr-3373	320	8	positive	positive	ADJ
fsr-3373	320	9	despite	despite	SCONJ
fsr-3373	320	10	their	their	PRON
fsr-3373	320	11	risk	risk	NOUN
fsr-3373	320	12	as	as	SCONJ
fsr-3373	320	13	seen	see	VERB
fsr-3373	320	14	by	by	ADP
fsr-3373	320	15	the	the	DET
fsr-3373	320	16	phenomenal	phenomenal	ADJ
fsr-3373	320	17	growth	growth	NOUN
fsr-3373	320	18	both	both	CCONJ
fsr-3373	320	19	in	in	ADP
fsr-3373	320	20	number	number	NOUN
fsr-3373	320	21	and	and	CCONJ
fsr-3373	320	22	in	in	ADP
fsr-3373	320	23	asset	asset	NOUN
fsr-3373	320	24	growth	growth	NOUN
fsr-3373	320	25	.	.	PUNCT
fsr-3373	321	1	like	like	ADP
fsr-3373	321	2	options	option	NOUN
fsr-3373	321	3	and	and	CCONJ
fsr-3373	321	4	futures	future	NOUN
fsr-3373	321	5	,	,	PUNCT
fsr-3373	321	6	letfs	letfs	PROPN
fsr-3373	321	7	can	can	AUX
fsr-3373	321	8	be	be	AUX
fsr-3373	321	9	used	use	VERB
fsr-3373	321	10	for	for	ADP
fsr-3373	321	11	highly	highly	ADV
fsr-3373	321	12	speculative	speculative	ADJ
fsr-3373	321	13	gambles	gamble	NOUN
fsr-3373	321	14	,	,	PUNCT
fsr-3373	321	15	hedging	hedging	NOUN
fsr-3373	321	16	,	,	PUNCT
fsr-3373	321	17	or	or	CCONJ
fsr-3373	321	18	risk	risk	NOUN
fsr-3373	321	19	management	management	NOUN
fsr-3373	321	20	.	.	PUNCT
fsr-3373	322	1	this	this	DET
fsr-3373	322	2	study	study	NOUN
fsr-3373	322	3	demonstrates	demonstrate	VERB
fsr-3373	322	4	that	that	SCONJ
fsr-3373	322	5	letfs	letfs	PROPN
fsr-3373	322	6	,	,	PUNCT
fsr-3373	322	7	even	even	ADV
fsr-3373	322	8	a	a	DET
fsr-3373	322	9	4x	4x	NUM
fsr-3373	322	10	letf	letf	NOUN
fsr-3373	322	11	if	if	SCONJ
fsr-3373	322	12	it	it	PRON
fsr-3373	322	13	becomes	become	VERB
fsr-3373	322	14	available	available	ADJ
fsr-3373	322	15	,	,	PUNCT
fsr-3373	322	16	can	can	AUX
fsr-3373	322	17	be	be	AUX
fsr-3373	322	18	used	use	VERB
fsr-3373	322	19	to	to	PART
fsr-3373	322	20	enhance	enhance	VERB
fsr-3373	322	21	return	return	NOUN
fsr-3373	322	22	,	,	PUNCT
fsr-3373	322	23	and	and	CCONJ
fsr-3373	322	24	reduce	reduce	VERB
fsr-3373	322	25	risk	risk	NOUN
fsr-3373	322	26	within	within	ADP
fsr-3373	322	27	the	the	DET
fsr-3373	322	28	right	right	ADJ
fsr-3373	322	29	context	context	NOUN
fsr-3373	322	30	.	.	PUNCT
fsr-3373	323	1	appendix	appendix	VERB
fsr-3373	323	2	1	1	NUM
fsr-3373	323	3	the	the	DET
fsr-3373	323	4	risk	risk	NOUN
fsr-3373	323	5	metrics	metric	NOUN
fsr-3373	323	6	used	use	VERB
fsr-3373	323	7	to	to	PART
fsr-3373	323	8	evaluate	evaluate	VERB
fsr-3373	323	9	the	the	DET
fsr-3373	323	10	results	result	NOUN
fsr-3373	323	11	are	be	AUX
fsr-3373	323	12	described	describe	VERB
fsr-3373	323	13	below	below	ADP
fsr-3373	323	14	:	:	PUNCT
fsr-3373	323	15	1	1	X
fsr-3373	323	16	.	.	X
fsr-3373	324	1	the	the	DET
fsr-3373	324	2	sharpe	sharpe	PROPN
fsr-3373	324	3	ratio	ratio	NOUN
fsr-3373	324	4	is	be	AUX
fsr-3373	324	5	the	the	DET
fsr-3373	324	6	excess	excess	ADJ
fsr-3373	324	7	return	return	NOUN
fsr-3373	324	8	divided	divide	VERB
fsr-3373	324	9	by	by	ADP
fsr-3373	324	10	the	the	DET
fsr-3373	324	11	standard	standard	ADJ
fsr-3373	324	12	deviation	deviation	NOUN
fsr-3373	324	13	and	and	CCONJ
fsr-3373	324	14	is	be	AUX
fsr-3373	324	15	reported	report	VERB
fsr-3373	324	16	for	for	ADP
fsr-3373	324	17	completeness	completeness	NOUN
fsr-3373	324	18	,	,	PUNCT
fsr-3373	324	19	even	even	ADV
fsr-3373	324	20	though	though	SCONJ
fsr-3373	324	21	it	it	PRON
fsr-3373	324	22	is	be	AUX
fsr-3373	324	23	not	not	PART
fsr-3373	324	24	the	the	DET
fsr-3373	324	25	best	good	ADJ
fsr-3373	324	26	measure	measure	NOUN
fsr-3373	324	27	for	for	ADP
fsr-3373	324	28	assessing	assess	VERB
fsr-3373	324	29	the	the	DET
fsr-3373	324	30	downside	downside	ADJ
fsr-3373	324	31	risk	risk	NOUN
fsr-3373	324	32	portfolio	portfolio	NOUN
fsr-3373	324	33	insurance	insurance	NOUN
fsr-3373	324	34	portfolios	portfolio	NOUN
fsr-3373	324	35	are	be	AUX
fsr-3373	324	36	attempting	attempt	VERB
fsr-3373	324	37	to	to	PART
fsr-3373	324	38	mitigate	mitigate	VERB
fsr-3373	324	39	,	,	PUNCT
fsr-3373	324	40	(	(	PUNCT
fsr-3373	324	41	sharpe	sharpe	NOUN
fsr-3373	324	42	,	,	PUNCT
fsr-3373	324	43	1964	1964	NUM
fsr-3373	324	44	)	)	PUNCT
fsr-3373	324	45	.	.	PUNCT
fsr-3373	325	1	opdyke	opdyke	PROPN
fsr-3373	325	2	’s	’s	PART
fsr-3373	325	3	(	(	PUNCT
fsr-3373	325	4	2007	2007	NUM
fsr-3373	325	5	)	)	PUNCT
fsr-3373	325	6	testing	testing	NOUN
fsr-3373	325	7	procedure	procedure	NOUN
fsr-3373	325	8	is	be	AUX
fsr-3373	325	9	used	use	VERB
fsr-3373	325	10	to	to	PART
fsr-3373	325	11	determine	determine	VERB
fsr-3373	325	12	whether	whether	SCONJ
fsr-3373	325	13	the	the	DET
fsr-3373	325	14	letfs	letfs	PROPN
fsr-3373	325	15	cppi	cppi	PROPN
fsr-3373	325	16	sharpe	sharpe	PROPN
fsr-3373	325	17	ratios	ratio	NOUN
fsr-3373	325	18	are	be	AUX
fsr-3373	325	19	better	well	ADJ
fsr-3373	325	20	than	than	ADP
fsr-3373	325	21	the	the	DET
fsr-3373	325	22	s&p	s&p	PROPN
fsr-3373	325	23	500	500	NUM
fsr-3373	325	24	and	and	CCONJ
fsr-3373	325	25	the	the	DET
fsr-3373	325	26	cppi	cppi	NOUN
fsr-3373	325	27	s&p	s&p	PROPN
fsr-3373	325	28	.	.	PUNCT
fsr-3373	326	1	2	2	NUM
fsr-3373	326	2	.	.	X
fsr-3373	326	3	the	the	DET
fsr-3373	326	4	sortino	sortino	ADJ
fsr-3373	326	5	ratio	ratio	NOUN
fsr-3373	326	6	is	be	AUX
fsr-3373	326	7	a	a	DET
fsr-3373	326	8	modification	modification	NOUN
fsr-3373	326	9	of	of	ADP
fsr-3373	326	10	the	the	DET
fsr-3373	326	11	sharpe	sharpe	NOUN
fsr-3373	326	12	ratio	ratio	NOUN
fsr-3373	326	13	and	and	CCONJ
fsr-3373	326	14	only	only	ADV
fsr-3373	326	15	considers	consider	VERB
fsr-3373	326	16	the	the	DET
fsr-3373	326	17	downside	downside	ADJ
fsr-3373	326	18	deviation	deviation	NOUN
fsr-3373	326	19	removing	remove	VERB
fsr-3373	326	20	the	the	DET
fsr-3373	326	21	aspect	aspect	NOUN
fsr-3373	326	22	of	of	ADP
fsr-3373	326	23	“	"	PUNCT
fsr-3373	326	24	good	good	ADJ
fsr-3373	326	25	volatility	volatility	NOUN
fsr-3373	326	26	”	"	PUNCT
fsr-3373	326	27	(	(	PUNCT
fsr-3373	326	28	sortino	sortino	NOUN
fsr-3373	326	29	and	and	CCONJ
fsr-3373	326	30	price	price	NOUN
fsr-3373	326	31	,	,	PUNCT
fsr-3373	326	32	1994	1994	NUM
fsr-3373	326	33	)	)	PUNCT
fsr-3373	326	34	.	.	PUNCT
fsr-3373	327	1	it	it	PRON
fsr-3373	327	2	is	be	AUX
fsr-3373	327	3	more	more	ADV
fsr-3373	327	4	appropriate	appropriate	ADJ
fsr-3373	327	5	for	for	ADP
fsr-3373	327	6	analyzing	analyze	VERB
fsr-3373	327	7	portfolio	portfolio	NOUN
fsr-3373	327	8	insurance	insurance	NOUN
fsr-3373	327	9	strategies	strategy	NOUN
fsr-3373	327	10	that	that	PRON
fsr-3373	327	11	are	be	AUX
fsr-3373	327	12	designed	design	VERB
fsr-3373	327	13	to	to	PART
fsr-3373	327	14	mitigate	mitigate	VERB
fsr-3373	327	15	large	large	ADJ
fsr-3373	327	16	losses	loss	NOUN
fsr-3373	327	17	and	and	CCONJ
fsr-3373	327	18	whose	whose	DET
fsr-3373	327	19	returns	return	NOUN
fsr-3373	327	20	may	may	AUX
fsr-3373	327	21	not	not	PART
fsr-3373	327	22	be	be	AUX
fsr-3373	327	23	normally	normally	ADV
fsr-3373	327	24	distributed	distribute	VERB
fsr-3373	327	25	.	.	PUNCT
fsr-3373	328	1	the	the	DET
fsr-3373	328	2	sortino	sortino	ADJ
fsr-3373	328	3	ratio	ratio	NOUN
fsr-3373	328	4	is	be	AUX
fsr-3373	328	5	written	write	VERB
fsr-3373	328	6	as	as	ADP
fsr-3373	328	7	:	:	PUNCT
fsr-3373	328	8	s	s	PART
fsr-3373	328	9	�	�	PROPN
fsr-3373	328	10	r	r	PROPN
fsr-3373	328	11	�	�	PROPN
fsr-3373	328	12	t	t	NOUN
fsr-3373	328	13	tdd	tdd	NOUN
fsr-3373	328	14	where	where	SCONJ
fsr-3373	328	15	tdd	tdd	PROPN
fsr-3373	328	16	�	�	PROPN
fsr-3373	328	17	�	�	PROPN
fsr-3373	328	18	1	1	NUM
fsr-3373	328	19	n	n	PRON
fsr-3373	328	20	�	�	PROPN
fsr-3373	328	21	i	i	PRON
fsr-3373	328	22	�	�	PROPN
fsr-3373	328	23	1	1	NUM
fsr-3373	328	24	n	n	PRON
fsr-3373	328	25	�	�	PROPN
fsr-3373	328	26	min(0,xi	min(0,xi	PROPN
fsr-3373	328	27	�	�	PROPN
fsr-3373	328	28	t))2	t))2	PROPN
fsr-3373	328	29	(	(	PUNCT
fsr-3373	328	30	3	3	NUM
fsr-3373	328	31	)	)	PUNCT
fsr-3373	328	32	where	where	SCONJ
fsr-3373	328	33	r	r	NOUN
fsr-3373	328	34	is	be	AUX
fsr-3373	328	35	the	the	DET
fsr-3373	328	36	return	return	NOUN
fsr-3373	328	37	,	,	PUNCT
fsr-3373	328	38	t	t	PROPN
fsr-3373	328	39	is	be	AUX
fsr-3373	328	40	the	the	DET
fsr-3373	328	41	target	target	NOUN
fsr-3373	328	42	return	return	NOUN
fsr-3373	328	43	,	,	PUNCT
fsr-3373	328	44	n	n	X
fsr-3373	328	45	is	be	AUX
fsr-3373	328	46	the	the	DET
fsr-3373	328	47	total	total	ADJ
fsr-3373	328	48	number	number	NOUN
fsr-3373	328	49	of	of	ADP
fsr-3373	328	50	returns	return	NOUN
fsr-3373	328	51	and	and	CCONJ
fsr-3373	328	52	xi	xi	X
fsr-3373	328	53	is	be	AUX
fsr-3373	328	54	the	the	DET
fsr-3373	328	55	ith	ith	PROPN
fsr-3373	328	56	return	return	NOUN
fsr-3373	328	57	.	.	PUNCT
fsr-3373	329	1	the	the	PRON
fsr-3373	329	2	higher	high	ADJ
fsr-3373	329	3	the	the	DET
fsr-3373	329	4	ratio	ratio	NOUN
fsr-3373	329	5	,	,	PUNCT
fsr-3373	329	6	the	the	PRON
fsr-3373	329	7	greater	great	ADJ
fsr-3373	329	8	the	the	DET
fsr-3373	329	9	return	return	NOUN
fsr-3373	329	10	per	per	ADP
fsr-3373	329	11	unit	unit	NOUN
fsr-3373	329	12	of	of	ADP
fsr-3373	329	13	downside	downside	ADJ
fsr-3373	329	14	risk	risk	NOUN
fsr-3373	329	15	.	.	PUNCT
fsr-3373	330	1	t	t	PROPN
fsr-3373	330	2	is	be	AUX
fsr-3373	330	3	set	set	VERB
fsr-3373	330	4	at	at	ADP
fsr-3373	330	5	the	the	DET
fsr-3373	330	6	one	one	NUM
fsr-3373	330	7	-	-	PUNCT
fsr-3373	330	8	year	year	NOUN
fsr-3373	330	9	treasury	treasury	NOUN
fsr-3373	330	10	return	return	NOUN
fsr-3373	330	11	for	for	ADP
fsr-3373	330	12	this	this	DET
fsr-3373	330	13	study	study	NOUN
fsr-3373	330	14	.	.	PUNCT
fsr-3373	331	1	3	3	X
fsr-3373	331	2	.	.	X
fsr-3373	331	3	the	the	DET
fsr-3373	331	4	omega	omega	NOUN
fsr-3373	331	5	ratio	ratio	NOUN
fsr-3373	331	6	,	,	PUNCT
fsr-3373	331	7	reported	report	VERB
fsr-3373	331	8	by	by	ADP
fsr-3373	331	9	keating	keating	NOUN
fsr-3373	331	10	and	and	CCONJ
fsr-3373	331	11	shadwick	shadwick	PROPN
fsr-3373	331	12	(	(	PUNCT
fsr-3373	331	13	2002	2002	NUM
fsr-3373	331	14	)	)	PUNCT
fsr-3373	331	15	also	also	ADV
fsr-3373	331	16	measures	measure	VERB
fsr-3373	331	17	downside	downside	ADJ
fsr-3373	331	18	risk	risk	NOUN
fsr-3373	331	19	.	.	PUNCT
fsr-3373	332	1	omega	omega	NOUN
fsr-3373	332	2	is	be	AUX
fsr-3373	332	3	the	the	DET
fsr-3373	332	4	sum	sum	NOUN
fsr-3373	332	5	of	of	ADP
fsr-3373	332	6	the	the	DET
fsr-3373	332	7	returns	return	NOUN
fsr-3373	332	8	above	above	ADP
fsr-3373	332	9	a	a	DET
fsr-3373	332	10	certain	certain	ADJ
fsr-3373	332	11	threshold	threshold	NOUN
fsr-3373	332	12	divided	divide	VERB
fsr-3373	332	13	by	by	ADP
fsr-3373	332	14	the	the	DET
fsr-3373	332	15	sum	sum	NOUN
fsr-3373	332	16	of	of	ADP
fsr-3373	332	17	the	the	DET
fsr-3373	332	18	returns	return	NOUN
fsr-3373	332	19	below	below	ADP
fsr-3373	332	20	that	that	DET
fsr-3373	332	21	threshold	threshold	NOUN
fsr-3373	332	22	,	,	PUNCT
fsr-3373	332	23	which	which	PRON
fsr-3373	332	24	is	be	AUX
fsr-3373	332	25	also	also	ADV
fsr-3373	332	26	set	set	VERB
fsr-3373	332	27	at	at	ADP
fsr-3373	332	28	zero	zero	NUM
fsr-3373	332	29	in	in	ADP
fsr-3373	332	30	this	this	DET
fsr-3373	332	31	study	study	NOUN
fsr-3373	332	32	.	.	PUNCT
fsr-3373	333	1	the	the	DET
fsr-3373	333	2	omega	omega	NOUN
fsr-3373	333	3	ratio	ratio	NOUN
fsr-3373	333	4	is	be	AUX
fsr-3373	333	5	written	write	VERB
fsr-3373	333	6	as	as	ADP
fsr-3373	333	7	,	,	PUNCT
fsr-3373	333	8	401j	401j	PROPN
fsr-3373	333	9	.	.	PUNCT
fsr-3373	334	1	george	george	PROPN
fsr-3373	334	2	,	,	PUNCT
fsr-3373	334	3	w.j	w.j	PROPN
fsr-3373	334	4	.	.	PROPN
fsr-3373	334	5	trainor	trainor	PROPN
fsr-3373	334	6	/	/	SYM
fsr-3373	334	7	financial	financial	ADJ
fsr-3373	334	8	services	service	NOUN
fsr-3373	334	9	review	review	VERB
fsr-3373	334	10	26	26	NUM
fsr-3373	334	11	(	(	PUNCT
fsr-3373	334	12	2017	2017	NUM
fsr-3373	334	13	)	)	PUNCT
fsr-3373	334	14	387–403	387–403	NUM
fsr-3373	334	15	�	�	SYM
fsr-3373	334	16	x	x	SYM
fsr-3373	334	17	�	�	PROPN
fsr-3373	334	18	�	�	PROPN
fsr-3373	334	19	�	�	PROPN
fsr-3373	334	20	�	�	PROPN
fsr-3373	334	21	�	�	PROPN
fsr-3373	334	22	�	�	PROPN
fsr-3373	334	23	�	�	PROPN
fsr-3373	334	24	�	�	PROPN
fsr-3373	334	25	1	1	NUM
fsr-3373	334	26	�	�	PROPN
fsr-3373	334	27	fx	fx	PROPN
fsr-3373	334	28	�	�	PROPN
fsr-3373	334	29	x	x	SYM
fsr-3373	334	30	�	�	PROPN
fsr-3373	334	31	dx	dx	PROPN
fsr-3373	334	32	�	�	PROPN
fsr-3373	334	33	�	�	PROPN
fsr-3373	334	34	�	�	PROPN
fsr-3373	334	35	fx	fx	PROPN
fsr-3373	334	36	�	�	PROPN
fsr-3373	334	37	x	x	SYM
fsr-3373	334	38	�	�	PROPN
fsr-3373	334	39	dx	dx	PROPN
fsr-3373	334	40	(	(	PUNCT
fsr-3373	334	41	4	4	NUM
fsr-3373	334	42	)	)	PUNCT
fsr-3373	334	43	where	where	SCONJ
fsr-3373	334	44	f	f	PROPN
fsr-3373	334	45	is	be	AUX
fsr-3373	334	46	the	the	DET
fsr-3373	334	47	cumulative	cumulative	ADJ
fsr-3373	334	48	distribution	distribution	NOUN
fsr-3373	334	49	function	function	NOUN
fsr-3373	334	50	and	and	CCONJ
fsr-3373	334	51	�	�	PROPN
fsr-3373	334	52	is	be	AUX
fsr-3373	334	53	the	the	DET
fsr-3373	334	54	threshold	threshold	NOUN
fsr-3373	334	55	return	return	NOUN
fsr-3373	334	56	.	.	PUNCT
fsr-3373	335	1	in	in	ADP
fsr-3373	335	2	this	this	DET
fsr-3373	335	3	study	study	NOUN
fsr-3373	335	4	,	,	PUNCT
fsr-3373	335	5	it	it	PRON
fsr-3373	335	6	is	be	AUX
fsr-3373	335	7	simply	simply	ADV
fsr-3373	335	8	the	the	DET
fsr-3373	335	9	sum	sum	NOUN
fsr-3373	335	10	of	of	ADP
fsr-3373	335	11	the	the	DET
fsr-3373	335	12	returns	return	NOUN
fsr-3373	335	13	above	above	ADP
fsr-3373	335	14	zero	zero	NUM
fsr-3373	335	15	divided	divide	VERB
fsr-3373	335	16	by	by	ADP
fsr-3373	335	17	the	the	DET
fsr-3373	335	18	absolute	absolute	ADJ
fsr-3373	335	19	value	value	NOUN
fsr-3373	335	20	of	of	ADP
fsr-3373	335	21	the	the	DET
fsr-3373	335	22	sum	sum	NOUN
fsr-3373	335	23	of	of	ADP
fsr-3373	335	24	the	the	DET
fsr-3373	335	25	returns	return	NOUN
fsr-3373	335	26	below	below	ADP
fsr-3373	335	27	zero	zero	NUM
fsr-3373	335	28	.	.	PUNCT
fsr-3373	336	1	4	4	X
fsr-3373	336	2	.	.	NOUN
fsr-3373	336	3	value	value	NOUN
fsr-3373	336	4	at	at	ADP
fsr-3373	336	5	risk	risk	NOUN
fsr-3373	336	6	measures	measure	NOUN
fsr-3373	336	7	the	the	DET
fsr-3373	336	8	expected	expected	ADJ
fsr-3373	336	9	maximum	maximum	ADJ
fsr-3373	336	10	loss	loss	NOUN
fsr-3373	336	11	with	with	ADP
fsr-3373	336	12	a	a	DET
fsr-3373	336	13	given	give	VERB
fsr-3373	336	14	confidence	confidence	NOUN
fsr-3373	336	15	level	level	NOUN
fsr-3373	336	16	over	over	ADP
fsr-3373	336	17	a	a	DET
fsr-3373	336	18	specific	specific	ADJ
fsr-3373	336	19	time	time	NOUN
fsr-3373	336	20	;	;	PUNCT
fsr-3373	336	21	5	5	NUM
fsr-3373	336	22	%	%	NOUN
fsr-3373	336	23	of	of	ADP
fsr-3373	336	24	the	the	DET
fsr-3373	336	25	observations	observation	NOUN
fsr-3373	336	26	are	be	AUX
fsr-3373	336	27	less	less	ADJ
fsr-3373	336	28	than	than	ADP
fsr-3373	336	29	the	the	DET
fsr-3373	336	30	var	var	NOUN
fsr-3373	336	31	.	.	PUNCT
fsr-3373	337	1	to	to	PART
fsr-3373	337	2	test	test	VERB
fsr-3373	337	3	for	for	ADP
fsr-3373	337	4	differences	difference	NOUN
fsr-3373	337	5	in	in	ADP
fsr-3373	337	6	var	var	NOUN
fsr-3373	337	7	,	,	PUNCT
fsr-3373	337	8	an	an	DET
fsr-3373	337	9	unconditional	unconditional	ADJ
fsr-3373	337	10	coverage	coverage	NOUN
fsr-3373	337	11	test	test	NOUN
fsr-3373	337	12	is	be	AUX
fsr-3373	337	13	applied	apply	VERB
fsr-3373	337	14	as	as	SCONJ
fsr-3373	337	15	put	put	VERB
fsr-3373	337	16	forth	forth	ADP
fsr-3373	337	17	in	in	ADP
fsr-3373	337	18	annert	annert	NOUN
fsr-3373	337	19	,	,	PUNCT
fsr-3373	337	20	osselaer	osselaer	NOUN
fsr-3373	337	21	,	,	PUNCT
fsr-3373	337	22	and	and	CCONJ
fsr-3373	337	23	verstraete	verstraete	ADJ
fsr-3373	337	24	(	(	PUNCT
fsr-3373	337	25	2009	2009	NUM
fsr-3373	337	26	)	)	PUNCT
fsr-3373	337	27	and	and	CCONJ
fsr-3373	337	28	is	be	AUX
fsr-3373	337	29	written	write	VERB
fsr-3373	337	30	as	as	ADP
fsr-3373	337	31	:	:	PUNCT
fsr-3373	337	32	�	�	PROPN
fsr-3373	337	33	1	1	NUM
fsr-3373	337	34	n	n	PRON
fsr-3373	337	35	�	�	PROPN
fsr-3373	337	36	n	n	CCONJ
fsr-3373	337	37	1	1	NUM
fsr-3373	337	38	n	n	DET
fsr-3373	337	39	hitn	hitn	VERB
fsr-3373	337	40	�	�	PROPN
fsr-3373	337	41	�	�	PROPN
fsr-3373	337	42	�	�	PROPN
fsr-3373	337	43	�	�	PROPN
fsr-3373	337	44	�	�	PROPN
fsr-3373	337	45	�	�	PROPN
fsr-3373	337	46	1	1	NUM
fsr-3373	337	47	�	�	PROPN
fsr-3373	337	48	�	�	PROPN
fsr-3373	337	49	�	�	PROPN
fsr-3373	337	50	n	n	CCONJ
fsr-3373	337	51	(	(	PUNCT
fsr-3373	337	52	5	5	NUM
fsr-3373	337	53	)	)	PUNCT
fsr-3373	337	54	where	where	SCONJ
fsr-3373	337	55	hitn	hitn	NOUN
fsr-3373	337	56	equals	equal	VERB
fsr-3373	337	57	one	one	NUM
fsr-3373	337	58	if	if	SCONJ
fsr-3373	337	59	the	the	DET
fsr-3373	337	60	letf	letf	ADJ
fsr-3373	337	61	cppi	cppi	NOUN
fsr-3373	337	62	return	return	NOUN
fsr-3373	337	63	is	be	AUX
fsr-3373	337	64	lower	low	ADJ
fsr-3373	337	65	than	than	ADP
fsr-3373	337	66	the	the	DET
fsr-3373	337	67	s&p	s&p	PROPN
fsr-3373	337	68	cppi	cppi	NOUN
fsr-3373	337	69	var	var	NOUN
fsr-3373	337	70	,	,	PUNCT
fsr-3373	337	71	zero	zero	NUM
fsr-3373	337	72	otherwise	otherwise	ADV
fsr-3373	337	73	,	,	PUNCT
fsr-3373	337	74	n	n	PRON
fsr-3373	337	75	is	be	AUX
fsr-3373	337	76	the	the	DET
fsr-3373	337	77	number	number	NOUN
fsr-3373	337	78	of	of	ADP
fsr-3373	337	79	returns	return	NOUN
fsr-3373	337	80	,	,	PUNCT
fsr-3373	337	81	and	and	CCONJ
fsr-3373	337	82	�	�	PROPN
fsr-3373	337	83	is	be	AUX
fsr-3373	337	84	the	the	DET
fsr-3373	337	85	5	5	NUM
fsr-3373	337	86	%	%	NOUN
fsr-3373	337	87	var	var	NOUN
fsr-3373	337	88	.	.	PUNCT
fsr-3373	338	1	all	all	DET
fsr-3373	338	2	statistical	statistical	ADJ
fsr-3373	338	3	tests	test	NOUN
fsr-3373	338	4	for	for	ADP
fsr-3373	338	5	significant	significant	ADJ
fsr-3373	338	6	differences	difference	NOUN
fsr-3373	338	7	are	be	AUX
fsr-3373	338	8	set	set	VERB
fsr-3373	338	9	at	at	ADP
fsr-3373	338	10	the	the	DET
fsr-3373	338	11	95	95	NUM
fsr-3373	338	12	%	%	NOUN
fsr-3373	338	13	confidence	confidence	NOUN
fsr-3373	338	14	level	level	NOUN
fsr-3373	338	15	.	.	PUNCT
fsr-3373	339	1	5	5	X
fsr-3373	339	2	.	.	X
fsr-3373	339	3	as	as	SCONJ
fsr-3373	339	4	pointed	point	VERB
fsr-3373	339	5	out	out	ADP
fsr-3373	339	6	in	in	ADP
fsr-3373	339	7	acerbi	acerbi	NOUN
fsr-3373	339	8	,	,	PUNCT
fsr-3373	339	9	nordio	nordio	NOUN
fsr-3373	339	10	,	,	PUNCT
fsr-3373	339	11	and	and	CCONJ
fsr-3373	339	12	sirtori	sirtori	NOUN
fsr-3373	339	13	(	(	PUNCT
fsr-3373	339	14	2001	2001	NUM
fsr-3373	339	15	)	)	PUNCT
fsr-3373	339	16	,	,	PUNCT
fsr-3373	339	17	excess	excess	ADJ
fsr-3373	339	18	shortfall	shortfall	NOUN
fsr-3373	339	19	(	(	PUNCT
fsr-3373	339	20	es	es	NOUN
fsr-3373	339	21	)	)	PUNCT
fsr-3373	339	22	shows	show	VERB
fsr-3373	339	23	the	the	DET
fsr-3373	339	24	average	average	ADJ
fsr-3373	339	25	loss	loss	NOUN
fsr-3373	339	26	beyond	beyond	ADP
fsr-3373	339	27	the	the	DET
fsr-3373	339	28	var	var	NOUN
fsr-3373	339	29	threshold	threshold	NOUN
fsr-3373	339	30	and	and	CCONJ
fsr-3373	339	31	represents	represent	VERB
fsr-3373	339	32	the	the	DET
fsr-3373	339	33	severity	severity	NOUN
fsr-3373	339	34	of	of	ADP
fsr-3373	339	35	a	a	DET
fsr-3373	339	36	dramatic	dramatic	ADJ
fsr-3373	339	37	loss	loss	NOUN
fsr-3373	339	38	.	.	PUNCT
fsr-3373	340	1	it	it	PRON
fsr-3373	340	2	addresses	address	VERB
fsr-3373	340	3	the	the	DET
fsr-3373	340	4	“	"	PUNCT
fsr-3373	340	5	what	what	PRON
fsr-3373	340	6	if	if	SCONJ
fsr-3373	340	7	”	"	PUNCT
fsr-3373	340	8	factor	factor	NOUN
fsr-3373	340	9	and	and	CCONJ
fsr-3373	340	10	makes	make	VERB
fsr-3373	340	11	up	up	ADP
fsr-3373	340	12	for	for	ADP
fsr-3373	340	13	the	the	DET
fsr-3373	340	14	discrepancies	discrepancy	NOUN
fsr-3373	340	15	with	with	ADP
fsr-3373	340	16	the	the	DET
fsr-3373	340	17	var	var	NOUN
fsr-3373	340	18	calculation	calculation	NOUN
fsr-3373	340	19	.	.	PUNCT
fsr-3373	341	1	acerbi	acerbi	NOUN
fsr-3373	341	2	and	and	CCONJ
fsr-3373	341	3	tasche	tasche	NOUN
fsr-3373	341	4	(	(	PUNCT
fsr-3373	341	5	2002	2002	NUM
fsr-3373	341	6	)	)	PUNCT
fsr-3373	341	7	confirm	confirm	VERB
fsr-3373	341	8	the	the	DET
fsr-3373	341	9	appropriateness	appropriateness	NOUN
fsr-3373	341	10	of	of	ADP
fsr-3373	341	11	this	this	DET
fsr-3373	341	12	definition	definition	NOUN
fsr-3373	341	13	compared	compare	VERB
fsr-3373	341	14	with	with	ADP
fsr-3373	341	15	other	other	ADJ
fsr-3373	341	16	shortfall	shortfall	NOUN
fsr-3373	341	17	calculations	calculation	NOUN
fsr-3373	341	18	.	.	PUNCT
fsr-3373	342	1	annaert	annaert	NOUN
fsr-3373	342	2	et	et	PROPN
fsr-3373	342	3	al	al	PROPN
fsr-3373	342	4	.	.	PROPN
fsr-3373	343	1	(	(	PUNCT
fsr-3373	343	2	2009	2009	NUM
fsr-3373	343	3	)	)	PUNCT
fsr-3373	343	4	is	be	AUX
fsr-3373	343	5	followed	follow	VERB
fsr-3373	343	6	to	to	PART
fsr-3373	343	7	test	test	VERB
fsr-3373	343	8	for	for	ADP
fsr-3373	343	9	differences	difference	NOUN
fsr-3373	343	10	in	in	ADP
fsr-3373	343	11	es	es	ADP
fsr-3373	343	12	values	value	NOUN
fsr-3373	343	13	.	.	PUNCT
fsr-3373	344	1	6	6	NUM
fsr-3373	344	2	.	.	PUNCT
fsr-3373	344	3	because	because	SCONJ
fsr-3373	344	4	there	there	PRON
fsr-3373	344	5	is	be	VERB
fsr-3373	344	6	an	an	DET
fsr-3373	344	7	expectation	expectation	NOUN
fsr-3373	344	8	portfolio	portfolio	NOUN
fsr-3373	344	9	insurance	insurance	NOUN
fsr-3373	344	10	appeals	appeal	NOUN
fsr-3373	344	11	more	more	ADJ
fsr-3373	344	12	to	to	PART
fsr-3373	344	13	prospect	prospect	VERB
fsr-3373	344	14	theory	theory	NOUN
fsr-3373	344	15	investors	investor	NOUN
fsr-3373	344	16	,	,	PUNCT
fsr-3373	344	17	cumulative	cumulative	ADJ
fsr-3373	344	18	prospect	prospect	NOUN
fsr-3373	344	19	values	value	NOUN
fsr-3373	344	20	(	(	PUNCT
fsr-3373	344	21	cpv	cpv	NOUN
fsr-3373	344	22	)	)	PUNCT
fsr-3373	344	23	are	be	AUX
fsr-3373	344	24	calculated	calculate	VERB
fsr-3373	344	25	using	use	VERB
fsr-3373	344	26	the	the	DET
fsr-3373	344	27	function	function	NOUN
fsr-3373	344	28	and	and	CCONJ
fsr-3373	344	29	parameters	parameter	NOUN
fsr-3373	344	30	set	set	VERB
fsr-3373	344	31	forth	forth	ADP
fsr-3373	344	32	in	in	ADP
fsr-3373	344	33	tversky	tversky	NOUN
fsr-3373	344	34	and	and	CCONJ
fsr-3373	344	35	kahnemen	kahneman	NOUN
fsr-3373	344	36	(	(	PUNCT
fsr-3373	344	37	1992	1992	NUM
fsr-3373	344	38	)	)	PUNCT
fsr-3373	344	39	.	.	PUNCT
fsr-3373	345	1	the	the	DET
fsr-3373	345	2	probability	probability	NOUN
fsr-3373	345	3	weighting	weighting	NOUN
fsr-3373	345	4	parameter	parameter	NOUN
fsr-3373	345	5	for	for	ADP
fsr-3373	345	6	gains	gain	NOUN
fsr-3373	345	7	is	be	AUX
fsr-3373	345	8	0.61	0.61	NUM
fsr-3373	345	9	and	and	CCONJ
fsr-3373	345	10	0.69	0.69	NUM
fsr-3373	345	11	for	for	ADP
fsr-3373	345	12	losses	loss	NOUN
fsr-3373	345	13	.	.	PUNCT
fsr-3373	346	1	dichtl	dichtl	PROPN
fsr-3373	346	2	and	and	CCONJ
fsr-3373	346	3	drobetz	drobetz	ADJ
fsr-3373	346	4	(	(	PUNCT
fsr-3373	346	5	2011b	2011b	NUM
fsr-3373	346	6	)	)	PUNCT
fsr-3373	346	7	use	use	VERB
fsr-3373	346	8	a	a	DET
fsr-3373	346	9	similar	similar	ADJ
fsr-3373	346	10	methodology	methodology	NOUN
fsr-3373	346	11	in	in	ADP
fsr-3373	346	12	comparing	compare	VERB
fsr-3373	346	13	dollar	dollar	NOUN
fsr-3373	346	14	cost	cost	NOUN
fsr-3373	346	15	averaging	averaging	NOUN
fsr-3373	346	16	to	to	PART
fsr-3373	346	17	lump	lump	VERB
fsr-3373	346	18	sum	sum	NOUN
fsr-3373	346	19	investing	investing	NOUN
fsr-3373	346	20	.	.	PUNCT
fsr-3373	347	1	references	reference	NOUN
fsr-3373	347	2	acerbi	acerbi	NOUN
fsr-3373	347	3	,	,	PUNCT
fsr-3373	347	4	c.	c.	NOUN
fsr-3373	347	5	,	,	PUNCT
fsr-3373	347	6	nordio	nordio	NOUN
fsr-3373	347	7	,	,	PUNCT
fsr-3373	347	8	c.	c.	PROPN
fsr-3373	347	9	,	,	PUNCT
fsr-3373	347	10	&	&	CCONJ
fsr-3373	347	11	sirtori	sirtori	PROPN
fsr-3373	347	12	,	,	PUNCT
fsr-3373	347	13	c.	c.	PROPN
fsr-3373	347	14	(	(	PUNCT
fsr-3373	347	15	2001	2001	NUM
fsr-3373	347	16	)	)	PUNCT
fsr-3373	347	17	.	.	PUNCT
fsr-3373	348	1	expected	expect	VERB
fsr-3373	348	2	shortfall	shortfall	NOUN
fsr-3373	348	3	as	as	ADP
fsr-3373	348	4	a	a	DET
fsr-3373	348	5	tool	tool	NOUN
fsr-3373	348	6	for	for	ADP
fsr-3373	348	7	financial	financial	ADJ
fsr-3373	348	8	management	management	NOUN
fsr-3373	348	9	.	.	PUNCT
fsr-3373	349	1	(	(	PUNCT
fsr-3373	349	2	available	available	ADJ
fsr-3373	349	3	at	at	ADP
fsr-3373	349	4	https://www.researchgate.net/publication/1825314_expected_shortfall_as_a_tool_for_financial_risk	https://www.researchgate.net/publication/1825314_expected_shortfall_as_a_tool_for_financial_risk	NOUN
fsr-3373	349	5	_	_	PROPN
fsr-3373	349	6	management	management	NOUN
fsr-3373	349	7	)	)	PUNCT
fsr-3373	349	8	acerbi	acerbi	NOUN
fsr-3373	349	9	,	,	PUNCT
fsr-3373	349	10	c.	c.	PROPN
fsr-3373	349	11	,	,	PUNCT
fsr-3373	349	12	&	&	CCONJ
fsr-3373	349	13	tasche	tasche	PROPN
fsr-3373	349	14	,	,	PUNCT
fsr-3373	349	15	d.	d.	PROPN
fsr-3373	349	16	(	(	PUNCT
fsr-3373	349	17	2002	2002	NUM
fsr-3373	349	18	)	)	PUNCT
fsr-3373	349	19	.	.	PUNCT
fsr-3373	350	1	on	on	ADP
fsr-3373	350	2	the	the	DET
fsr-3373	350	3	coherence	coherence	NOUN
fsr-3373	350	4	of	of	ADP
fsr-3373	350	5	expected	expect	VERB
fsr-3373	350	6	shortfall	shortfall	NOUN
fsr-3373	350	7	.	.	PUNCT
fsr-3373	350	8	journal	journal	PROPN
fsr-3373	350	9	of	of	ADP
fsr-3373	350	10	banking	banking	NOUN
fsr-3373	350	11	and	and	CCONJ
fsr-3373	350	12	finance	finance	NOUN
fsr-3373	350	13	,	,	PUNCT
fsr-3373	350	14	26	26	NUM
fsr-3373	350	15	,	,	PUNCT
fsr-3373	350	16	1487–1503	1487–1503	NUM
fsr-3373	350	17	.	.	PUNCT
fsr-3373	350	18	402	402	NUM
fsr-3373	350	19	j.	j.	PROPN
fsr-3373	350	20	george	george	PROPN
fsr-3373	350	21	,	,	PUNCT
fsr-3373	350	22	w.j	w.j	PROPN
fsr-3373	350	23	.	.	PROPN
fsr-3373	350	24	trainor	trainor	PROPN
fsr-3373	350	25	/	/	SYM
fsr-3373	350	26	financial	financial	ADJ
fsr-3373	350	27	services	service	NOUN
fsr-3373	350	28	review	review	VERB
fsr-3373	350	29	26	26	NUM
fsr-3373	350	30	(	(	PUNCT
fsr-3373	350	31	2017	2017	NUM
fsr-3373	350	32	)	)	PUNCT
fsr-3373	350	33	387–403	387–403	NUM
fsr-3373	350	34	annaert	annaert	NOUN
fsr-3373	350	35	,	,	PUNCT
fsr-3373	350	36	j.	j.	PROPN
fsr-3373	350	37	,	,	PUNCT
fsr-3373	350	38	osselaer	osselaer	PROPN
fsr-3373	350	39	,	,	PUNCT
fsr-3373	350	40	s.	s.	PROPN
fsr-3373	350	41	,	,	PUNCT
fsr-3373	350	42	&	&	CCONJ
fsr-3373	350	43	verstraete	verstraete	PROPN
fsr-3373	350	44	,	,	PUNCT
fsr-3373	350	45	b.	b.	PROPN
fsr-3373	350	46	(	(	PUNCT
fsr-3373	350	47	2009	2009	NUM
fsr-3373	350	48	)	)	PUNCT
fsr-3373	350	49	.	.	PUNCT
fsr-3373	351	1	performance	performance	NOUN
fsr-3373	351	2	evaluation	evaluation	NOUN
fsr-3373	351	3	of	of	ADP
fsr-3373	351	4	portfolio	portfolio	NOUN
fsr-3373	351	5	insurance	insurance	NOUN
fsr-3373	351	6	strategies	strategy	NOUN
fsr-3373	351	7	using	use	VERB
fsr-3373	351	8	stochastic	stochastic	ADJ
fsr-3373	351	9	dominance	dominance	NOUN
fsr-3373	351	10	criteria	criterion	NOUN
fsr-3373	351	11	.	.	PUNCT
fsr-3373	352	1	journal	journal	NOUN
fsr-3373	352	2	of	of	ADP
fsr-3373	352	3	banking	banking	NOUN
fsr-3373	352	4	and	and	CCONJ
fsr-3373	352	5	finance	finance	NOUN
fsr-3373	352	6	,	,	PUNCT
fsr-3373	352	7	33	33	NUM
fsr-3373	352	8	,	,	PUNCT
fsr-3373	352	9	272–280	272–280	NUM
fsr-3373	352	10	.	.	PUNCT
fsr-3373	353	1	avenllaneda	avenllaneda	PROPN
fsr-3373	353	2	,	,	PUNCT
fsr-3373	353	3	m.	m.	NOUN
fsr-3373	353	4	,	,	PUNCT
fsr-3373	353	5	&	&	CCONJ
fsr-3373	353	6	zhang	zhang	PROPN
fsr-3373	353	7	,	,	PUNCT
fsr-3373	353	8	s.	s.	PROPN
fsr-3373	353	9	(	(	PUNCT
fsr-3373	353	10	2010	2010	NUM
fsr-3373	353	11	)	)	PUNCT
fsr-3373	353	12	.	.	PUNCT
fsr-3373	354	1	path	path	NOUN
fsr-3373	354	2	-	-	PUNCT
fsr-3373	354	3	dependence	dependence	NOUN
fsr-3373	354	4	of	of	ADP
fsr-3373	354	5	leverage	leverage	NOUN
fsr-3373	354	6	etf	etf	NOUN
fsr-3373	354	7	returns	return	NOUN
fsr-3373	354	8	.	.	PUNCT
fsr-3373	355	1	society	society	NOUN
fsr-3373	355	2	for	for	ADP
fsr-3373	355	3	industrial	industrial	ADJ
fsr-3373	355	4	and	and	CCONJ
fsr-3373	355	5	applied	applied	ADJ
fsr-3373	355	6	mathematics	mathematic	NOUN
fsr-3373	355	7	,	,	PUNCT
fsr-3373	355	8	1	1	NUM
fsr-3373	355	9	,	,	PUNCT
fsr-3373	355	10	586–603	586–603	NUM
fsr-3373	355	11	.	.	PUNCT
fsr-3373	356	1	bertrand	bertrand	PROPN
fsr-3373	356	2	,	,	PUNCT
fsr-3373	356	3	p.	p.	PROPN
fsr-3373	356	4	,	,	PUNCT
fsr-3373	356	5	&	&	CCONJ
fsr-3373	356	6	prigent	prigent	PROPN
fsr-3373	356	7	,	,	PUNCT
fsr-3373	356	8	j.	j.	PROPN
fsr-3373	356	9	(	(	PUNCT
fsr-3373	356	10	2011	2011	NUM
fsr-3373	356	11	)	)	PUNCT
fsr-3373	356	12	.	.	PUNCT
fsr-3373	357	1	omega	omega	NOUN
fsr-3373	357	2	performance	performance	NOUN
fsr-3373	357	3	measure	measure	NOUN
fsr-3373	357	4	and	and	CCONJ
fsr-3373	357	5	portfolio	portfolio	NOUN
fsr-3373	357	6	insurance	insurance	NOUN
fsr-3373	357	7	.	.	PUNCT
fsr-3373	358	1	journal	journal	NOUN
fsr-3373	358	2	of	of	ADP
fsr-3373	358	3	banking	banking	NOUN
fsr-3373	358	4	and	and	CCONJ
fsr-3373	358	5	finance	finance	NOUN
fsr-3373	358	6	,	,	PUNCT
fsr-3373	358	7	35	35	NUM
fsr-3373	358	8	,	,	PUNCT
fsr-3373	358	9	1811–1823	1811–1823	NUM
fsr-3373	358	10	.	.	PUNCT
fsr-3373	359	1	black	black	ADJ
fsr-3373	359	2	,	,	PUNCT
fsr-3373	359	3	f.	f.	PROPN
fsr-3373	359	4	,	,	PUNCT
fsr-3373	359	5	&	&	CCONJ
fsr-3373	359	6	jones	jones	PROPN
fsr-3373	359	7	,	,	PUNCT
fsr-3373	359	8	r.	r.	PROPN
fsr-3373	359	9	(	(	PUNCT
fsr-3373	359	10	1987	1987	NUM
fsr-3373	359	11	)	)	PUNCT
fsr-3373	359	12	.	.	PUNCT
fsr-3373	360	1	simplifying	simplify	VERB
fsr-3373	360	2	portfolio	portfolio	NOUN
fsr-3373	360	3	insurance	insurance	NOUN
fsr-3373	360	4	.	.	PUNCT
fsr-3373	361	1	journal	journal	PROPN
fsr-3373	361	2	of	of	ADP
fsr-3373	361	3	portfolio	portfolio	NOUN
fsr-3373	361	4	management	management	NOUN
fsr-3373	361	5	,	,	PUNCT
fsr-3373	361	6	14	14	NUM
fsr-3373	361	7	,	,	PUNCT
fsr-3373	361	8	48–51	48–51	NUM
fsr-3373	361	9	.	.	PUNCT
fsr-3373	362	1	carver	carver	PROPN
fsr-3373	362	2	,	,	PUNCT
fsr-3373	362	3	a.	a.	NOUN
fsr-3373	362	4	(	(	PUNCT
fsr-3373	362	5	2009	2009	NUM
fsr-3373	362	6	)	)	PUNCT
fsr-3373	362	7	.	.	PUNCT
fsr-3373	363	1	do	do	AUX
fsr-3373	363	2	leveraged	leveraged	ADJ
fsr-3373	363	3	and	and	CCONJ
fsr-3373	363	4	inverse	inverse	ADJ
fsr-3373	363	5	etfs	etfs	NOUN
fsr-3373	363	6	converge	converge	VERB
fsr-3373	363	7	to	to	ADP
fsr-3373	363	8	zero	zero	NUM
fsr-3373	363	9	?	?	PUNCT
fsr-3373	364	1	the	the	DET
fsr-3373	364	2	journal	journal	NOUN
fsr-3373	364	3	of	of	ADP
fsr-3373	364	4	derivatives	derivative	NOUN
fsr-3373	364	5	,	,	PUNCT
fsr-3373	364	6	2009	2009	NUM
fsr-3373	364	7	,	,	PUNCT
fsr-3373	364	8	144–149	144–149	NUM
fsr-3373	364	9	.	.	PUNCT
fsr-3373	364	10	cesari	cesari	PROPN
fsr-3373	364	11	,	,	PUNCT
fsr-3373	364	12	r.	r.	PROPN
fsr-3373	364	13	,	,	PUNCT
fsr-3373	364	14	&	&	CCONJ
fsr-3373	364	15	cremonini	cremonini	PROPN
fsr-3373	364	16	,	,	PUNCT
fsr-3373	364	17	d.	d.	PROPN
fsr-3373	364	18	(	(	PUNCT
fsr-3373	364	19	2003	2003	NUM
fsr-3373	364	20	)	)	PUNCT
fsr-3373	364	21	.	.	PUNCT
fsr-3373	365	1	benchmarking	benchmarke	VERB
fsr-3373	365	2	,	,	PUNCT
fsr-3373	365	3	portfolio	portfolio	NOUN
fsr-3373	365	4	insurance	insurance	NOUN
fsr-3373	365	5	and	and	CCONJ
fsr-3373	365	6	technical	technical	ADJ
fsr-3373	365	7	analysis	analysis	NOUN
fsr-3373	365	8	:	:	PUNCT
fsr-3373	365	9	a	a	DET
fsr-3373	365	10	monte	monte	PROPN
fsr-3373	365	11	carlo	carlo	PROPN
fsr-3373	365	12	comparison	comparison	NOUN
fsr-3373	365	13	of	of	ADP
fsr-3373	365	14	dynamic	dynamic	ADJ
fsr-3373	365	15	strategies	strategy	NOUN
fsr-3373	365	16	of	of	ADP
fsr-3373	365	17	asset	asset	NOUN
fsr-3373	365	18	allocations	allocation	NOUN
fsr-3373	365	19	.	.	PUNCT
fsr-3373	366	1	journal	journal	NOUN
fsr-3373	366	2	of	of	ADP
fsr-3373	366	3	economic	economic	ADJ
fsr-3373	366	4	dynamics	dynamic	NOUN
fsr-3373	366	5	and	and	CCONJ
fsr-3373	366	6	control	control	NOUN
fsr-3373	366	7	,	,	PUNCT
fsr-3373	366	8	27	27	NUM
fsr-3373	366	9	,	,	PUNCT
fsr-3373	366	10	987–1011	987–1011	NUM
fsr-3373	366	11	.	.	PUNCT
fsr-3373	367	1	charupat	charupat	NOUN
fsr-3373	367	2	,	,	PUNCT
fsr-3373	367	3	n.	n.	NOUN
fsr-3373	367	4	,	,	PUNCT
fsr-3373	367	5	&	&	CCONJ
fsr-3373	367	6	miu	miu	PROPN
fsr-3373	367	7	,	,	PUNCT
fsr-3373	367	8	p.	p.	NOUN
fsr-3373	367	9	(	(	PUNCT
fsr-3373	367	10	2014	2014	NUM
fsr-3373	367	11	)	)	PUNCT
fsr-3373	367	12	.	.	PUNCT
fsr-3373	368	1	a	a	DET
fsr-3373	368	2	new	new	ADJ
fsr-3373	368	3	method	method	NOUN
fsr-3373	368	4	to	to	PART
fsr-3373	368	5	measure	measure	VERB
fsr-3373	368	6	the	the	DET
fsr-3373	368	7	performance	performance	NOUN
fsr-3373	368	8	of	of	ADP
fsr-3373	368	9	leveraged	leveraged	ADJ
fsr-3373	368	10	exchange	exchange	NOUN
fsr-3373	368	11	-	-	PUNCT
fsr-3373	368	12	traded	trade	VERB
fsr-3373	368	13	funds	fund	NOUN
fsr-3373	368	14	.	.	PUNCT
fsr-3373	369	1	financial	financial	ADJ
fsr-3373	369	2	review	review	PROPN
fsr-3373	369	3	,	,	PUNCT
fsr-3373	369	4	49	49	NUM
fsr-3373	369	5	,	,	PUNCT
fsr-3373	369	6	735–763	735–763	NUM
fsr-3373	369	7	.	.	PUNCT
fsr-3373	370	1	cheng	cheng	PROPN
fsr-3373	370	2	,	,	PUNCT
fsr-3373	370	3	m.	m.	NOUN
fsr-3373	370	4	,	,	PUNCT
fsr-3373	370	5	&	&	CCONJ
fsr-3373	370	6	madhavan	madhavan	PROPN
fsr-3373	370	7	,	,	PUNCT
fsr-3373	370	8	a.	a.	NOUN
fsr-3373	370	9	(	(	PUNCT
fsr-3373	370	10	2009	2009	NUM
fsr-3373	370	11	)	)	PUNCT
fsr-3373	370	12	.	.	PUNCT
fsr-3373	371	1	the	the	DET
fsr-3373	371	2	dynamics	dynamic	NOUN
fsr-3373	371	3	of	of	ADP
fsr-3373	371	4	leveraged	leveraged	ADJ
fsr-3373	371	5	and	and	CCONJ
fsr-3373	371	6	inverse	inverse	NOUN
fsr-3373	371	7	exchange	exchange	NOUN
fsr-3373	371	8	-	-	PUNCT
fsr-3373	371	9	traded	trade	VERB
fsr-3373	371	10	funds	fund	NOUN
fsr-3373	371	11	.	.	PUNCT
fsr-3373	372	1	journal	journal	NOUN
fsr-3373	372	2	of	of	ADP
fsr-3373	372	3	investment	investment	NOUN
fsr-3373	372	4	management	management	NOUN
fsr-3373	372	5	,	,	PUNCT
fsr-3373	372	6	7	7	NUM
fsr-3373	372	7	,	,	PUNCT
fsr-3373	372	8	43–62	43–62	NUM
fsr-3373	372	9	.	.	PUNCT
fsr-3373	373	1	dichtl	dichtl	PROPN
fsr-3373	373	2	,	,	PUNCT
fsr-3373	373	3	h.	h.	PROPN
fsr-3373	373	4	,	,	PUNCT
fsr-3373	373	5	&	&	CCONJ
fsr-3373	373	6	drobetz	drobetz	PROPN
fsr-3373	373	7	,	,	PUNCT
fsr-3373	373	8	w.	w.	PROPN
fsr-3373	373	9	(	(	PUNCT
fsr-3373	373	10	2011	2011	NUM
fsr-3373	373	11	)	)	PUNCT
fsr-3373	373	12	.	.	PUNCT
fsr-3373	374	1	portfolio	portfolio	NOUN
fsr-3373	374	2	insurance	insurance	PROPN
fsr-3373	374	3	and	and	CCONJ
fsr-3373	374	4	prospect	prospect	NOUN
fsr-3373	374	5	theory	theory	NOUN
fsr-3373	374	6	investors	investor	NOUN
fsr-3373	374	7	:	:	PUNCT
fsr-3373	374	8	popularity	popularity	NOUN
fsr-3373	374	9	and	and	CCONJ
fsr-3373	374	10	optimal	optimal	ADJ
fsr-3373	374	11	design	design	NOUN
fsr-3373	374	12	of	of	ADP
fsr-3373	374	13	capital	capital	NOUN
fsr-3373	374	14	protected	protect	VERB
fsr-3373	374	15	products	product	NOUN
fsr-3373	374	16	.	.	PUNCT
fsr-3373	375	1	journal	journal	NOUN
fsr-3373	375	2	of	of	ADP
fsr-3373	375	3	banking	banking	NOUN
fsr-3373	375	4	and	and	CCONJ
fsr-3373	375	5	finance	finance	NOUN
fsr-3373	375	6	,	,	PUNCT
fsr-3373	375	7	35	35	NUM
fsr-3373	375	8	,	,	PUNCT
fsr-3373	375	9	1683–1697	1683–1697	NUM
fsr-3373	375	10	.	.	PUNCT
fsr-3373	376	1	dichtl	dichtl	PROPN
fsr-3373	376	2	,	,	PUNCT
fsr-3373	376	3	h.	h.	PROPN
fsr-3373	376	4	,	,	PUNCT
fsr-3373	376	5	&	&	CCONJ
fsr-3373	376	6	drobetz	drobetz	PROPN
fsr-3373	376	7	,	,	PUNCT
fsr-3373	376	8	w.	w.	PROPN
fsr-3373	376	9	(	(	PUNCT
fsr-3373	376	10	2011b	2011b	NUM
fsr-3373	376	11	)	)	PUNCT
fsr-3373	376	12	.	.	PUNCT
fsr-3373	377	1	dollar	dollar	NOUN
fsr-3373	377	2	-	-	PUNCT
fsr-3373	377	3	cost	cost	NOUN
fsr-3373	377	4	averaging	averaging	NOUN
fsr-3373	377	5	and	and	CCONJ
fsr-3373	377	6	prospect	prospect	NOUN
fsr-3373	377	7	theory	theory	NOUN
fsr-3373	377	8	investors	investor	NOUN
fsr-3373	377	9	:	:	PUNCT
fsr-3373	377	10	an	an	DET
fsr-3373	377	11	explanation	explanation	NOUN
fsr-3373	377	12	for	for	ADP
fsr-3373	377	13	a	a	DET
fsr-3373	377	14	popular	popular	ADJ
fsr-3373	377	15	investment	investment	NOUN
fsr-3373	377	16	strategy	strategy	NOUN
fsr-3373	377	17	.	.	PUNCT
fsr-3373	378	1	journal	journal	NOUN
fsr-3373	378	2	of	of	ADP
fsr-3373	378	3	behavioral	behavioral	ADJ
fsr-3373	378	4	finance	finance	NOUN
fsr-3373	378	5	,	,	PUNCT
fsr-3373	378	6	12	12	NUM
fsr-3373	378	7	,	,	PUNCT
fsr-3373	378	8	41–52	41–52	NUM
fsr-3373	378	9	.	.	PUNCT
fsr-3373	379	1	dilellio	dilellio	PROPN
fsr-3373	379	2	,	,	PUNCT
fsr-3373	379	3	j.	j.	PROPN
fsr-3373	379	4	,	,	PUNCT
fsr-3373	379	5	hesse	hesse	PROPN
fsr-3373	379	6	,	,	PUNCT
fsr-3373	379	7	r.	r.	PROPN
fsr-3373	379	8	,	,	PUNCT
fsr-3373	379	9	&	&	CCONJ
fsr-3373	379	10	stanley	stanley	PROPN
fsr-3373	379	11	,	,	PUNCT
fsr-3373	379	12	d.	d.	PROPN
fsr-3373	379	13	(	(	PUNCT
fsr-3373	379	14	2014	2014	NUM
fsr-3373	379	15	)	)	PUNCT
fsr-3373	379	16	.	.	PUNCT
fsr-3373	380	1	portfolio	portfolio	NOUN
fsr-3373	380	2	performance	performance	NOUN
fsr-3373	380	3	with	with	ADP
fsr-3373	380	4	inverse	inverse	NOUN
fsr-3373	380	5	and	and	CCONJ
fsr-3373	380	6	leveraged	leveraged	ADJ
fsr-3373	380	7	etfs	etfs	NOUN
fsr-3373	380	8	.	.	PUNCT
fsr-3373	381	1	financial	financial	ADJ
fsr-3373	381	2	services	services	PROPN
fsr-3373	381	3	review	review	PROPN
fsr-3373	381	4	,	,	PUNCT
fsr-3373	381	5	23	23	NUM
fsr-3373	381	6	,	,	PUNCT
fsr-3373	381	7	123–149	123–149	NUM
fsr-3373	381	8	.	.	PUNCT
fsr-3373	382	1	hunnicutt	hunnicutt	PROPN
fsr-3373	382	2	,	,	PUNCT
fsr-3373	382	3	t.	t.	PROPN
fsr-3373	382	4	,	,	PUNCT
fsr-3373	382	5	&	&	CCONJ
fsr-3373	382	6	mccrank	mccrank	PROPN
fsr-3373	382	7	,	,	PUNCT
fsr-3373	382	8	j.	j.	PROPN
fsr-3373	382	9	(	(	PUNCT
fsr-3373	382	10	2017	2017	NUM
fsr-3373	382	11	)	)	PUNCT
fsr-3373	382	12	.	.	PUNCT
fsr-3373	383	1	more	more	ADJ
fsr-3373	383	2	quadruple	quadruple	ADV
fsr-3373	383	3	-	-	PUNCT
fsr-3373	383	4	leveraged	leverage	VERB
fsr-3373	383	5	etfs	etfs	NOUN
fsr-3373	383	6	proposed	propose	VERB
fsr-3373	383	7	despite	despite	SCONJ
fsr-3373	383	8	sec	sec	PROPN
fsr-3373	383	9	review	review	NOUN
fsr-3373	383	10	.	.	PUNCT
fsr-3373	384	1	reuters	reuter	NOUN
fsr-3373	384	2	.	.	PUNCT
fsr-3373	385	1	(	(	PUNCT
fsr-3373	385	2	available	available	ADJ
fsr-3373	385	3	at	at	ADP
fsr-3373	385	4	http://www.reuters.com/article/us-sec-etfs-iduskbn19b2dp	http://www.reuters.com/article/us-sec-etfs-iduskbn19b2dp	PROPN
fsr-3373	385	5	)	)	PUNCT
fsr-3373	385	6	justice	justice	NOUN
fsr-3373	385	7	,	,	PUNCT
fsr-3373	385	8	p.	p.	NOUN
fsr-3373	385	9	(	(	PUNCT
fsr-3373	385	10	2009	2009	NUM
fsr-3373	385	11	)	)	PUNCT
fsr-3373	385	12	.	.	PUNCT
fsr-3373	386	1	warning	warning	NOUN
fsr-3373	386	2	:	:	PUNCT
fsr-3373	386	3	leveraged	leveraged	ADJ
fsr-3373	386	4	and	and	CCONJ
fsr-3373	386	5	inverse	inverse	ADJ
fsr-3373	386	6	etfs	etfs	NOUN
fsr-3373	386	7	kill	kill	VERB
fsr-3373	386	8	portfolios	portfolio	NOUN
fsr-3373	386	9	.	.	PUNCT
fsr-3373	387	1	morningstar	morningstar	NOUN
fsr-3373	387	2	investing	investing	NOUN
fsr-3373	387	3	specialists	specialist	NOUN
fsr-3373	387	4	.	.	PUNCT
fsr-3373	388	1	(	(	PUNCT
fsr-3373	388	2	available	available	ADJ
fsr-3373	388	3	at	at	ADP
fsr-3373	388	4	http://news.morningstar.com/articlenet/article.aspx?id�271892	http://news.morningstar.com/articlenet/article.aspx?id�271892	NOUN
fsr-3373	388	5	)	)	PUNCT
fsr-3373	388	6	kahneman	kahneman	NOUN
fsr-3373	388	7	,	,	PUNCT
fsr-3373	388	8	d.	d.	PROPN
fsr-3373	388	9	,	,	PUNCT
fsr-3373	388	10	&	&	CCONJ
fsr-3373	388	11	tversky	tversky	PROPN
fsr-3373	388	12	,	,	PUNCT
fsr-3373	388	13	a.	a.	NOUN
fsr-3373	388	14	(	(	PUNCT
fsr-3373	388	15	1979	1979	NUM
fsr-3373	388	16	)	)	PUNCT
fsr-3373	388	17	.	.	PUNCT
fsr-3373	389	1	prospect	prospect	PROPN
fsr-3373	389	2	theory	theory	NOUN
fsr-3373	389	3	of	of	ADP
fsr-3373	389	4	decisions	decision	NOUN
fsr-3373	389	5	under	under	ADP
fsr-3373	389	6	risk	risk	NOUN
fsr-3373	389	7	.	.	PUNCT
fsr-3373	390	1	econometrica	econometrica	PROPN
fsr-3373	390	2	,	,	PUNCT
fsr-3373	390	3	47	47	NUM
fsr-3373	390	4	,	,	PUNCT
fsr-3373	390	5	263–291	263–291	NUM
fsr-3373	390	6	.	.	PUNCT
fsr-3373	391	1	keating	keating	PROPN
fsr-3373	391	2	,	,	PUNCT
fsr-3373	391	3	c.	c.	PROPN
fsr-3373	391	4	,	,	PUNCT
fsr-3373	391	5	&	&	CCONJ
fsr-3373	391	6	shadwick	shadwick	PROPN
fsr-3373	391	7	,	,	PUNCT
fsr-3373	391	8	w.	w.	PROPN
fsr-3373	391	9	(	(	PUNCT
fsr-3373	391	10	2002	2002	NUM
fsr-3373	391	11	)	)	PUNCT
fsr-3373	391	12	.	.	PUNCT
fsr-3373	392	1	a	a	DET
fsr-3373	392	2	universal	universal	ADJ
fsr-3373	392	3	performance	performance	NOUN
fsr-3373	392	4	measure	measure	NOUN
fsr-3373	392	5	.	.	PUNCT
fsr-3373	393	1	london	london	PROPN
fsr-3373	393	2	:	:	PUNCT
fsr-3373	393	3	the	the	DET
fsr-3373	393	4	finance	finance	NOUN
fsr-3373	393	5	development	development	NOUN
fsr-3373	393	6	centre	centre	PROPN
fsr-3373	393	7	.	.	PUNCT
fsr-3373	394	1	leland	leland	PROPN
fsr-3373	394	2	,	,	PUNCT
fsr-3373	394	3	h.	h.	PROPN
fsr-3373	394	4	e.	e.	PROPN
fsr-3373	394	5	,	,	PUNCT
fsr-3373	394	6	&	&	CCONJ
fsr-3373	394	7	rubinstein	rubinstein	PROPN
fsr-3373	394	8	,	,	PUNCT
fsr-3373	394	9	m.	m.	NOUN
fsr-3373	394	10	(	(	PUNCT
fsr-3373	394	11	1976	1976	NUM
fsr-3373	394	12	)	)	PUNCT
fsr-3373	394	13	.	.	PUNCT
fsr-3373	395	1	the	the	DET
fsr-3373	395	2	evolution	evolution	NOUN
fsr-3373	395	3	of	of	ADP
fsr-3373	395	4	portfolio	portfolio	NOUN
fsr-3373	395	5	insurance	insurance	NOUN
fsr-3373	395	6	.	.	PUNCT
fsr-3373	396	1	in	in	ADP
fsr-3373	396	2	d.	d.	PROPN
fsr-3373	396	3	l.	l.	PROPN
fsr-3373	396	4	luskin	luskin	PROPN
fsr-3373	396	5	(	(	PUNCT
fsr-3373	396	6	ed	ed	NOUN
fsr-3373	396	7	.	.	PUNCT
fsr-3373	396	8	)	)	PUNCT
fsr-3373	396	9	,	,	PUNCT
fsr-3373	396	10	portfolio	portfolio	NOUN
fsr-3373	396	11	insurance	insurance	NOUN
fsr-3373	396	12	:	:	PUNCT
fsr-3373	396	13	a	a	DET
fsr-3373	396	14	guide	guide	NOUN
fsr-3373	396	15	to	to	ADP
fsr-3373	396	16	dynamic	dynamic	ADJ
fsr-3373	396	17	hedging	hedging	NOUN
fsr-3373	396	18	.	.	PUNCT
fsr-3373	397	1	new	new	PROPN
fsr-3373	397	2	york	york	PROPN
fsr-3373	397	3	,	,	PUNCT
fsr-3373	397	4	ny	ny	PROPN
fsr-3373	397	5	:	:	PUNCT
fsr-3373	397	6	wiley	wiley	PROPN
fsr-3373	397	7	.	.	PUNCT
fsr-3373	398	1	lu	lu	PROPN
fsr-3373	398	2	,	,	PUNCT
fsr-3373	398	3	l.	l.	PROPN
fsr-3373	398	4	,	,	PUNCT
fsr-3373	398	5	wang	wang	PROPN
fsr-3373	398	6	,	,	PUNCT
fsr-3373	398	7	j.	j.	PROPN
fsr-3373	398	8	,	,	PUNCT
fsr-3373	398	9	&	&	CCONJ
fsr-3373	398	10	zhang	zhang	PROPN
fsr-3373	398	11	,	,	PUNCT
fsr-3373	398	12	g.	g.	PROPN
fsr-3373	398	13	(	(	PUNCT
fsr-3373	398	14	2012	2012	NUM
fsr-3373	398	15	)	)	PUNCT
fsr-3373	398	16	.	.	PUNCT
fsr-3373	399	1	long	long	ADJ
fsr-3373	399	2	term	term	NOUN
fsr-3373	399	3	performance	performance	NOUN
fsr-3373	399	4	of	of	ADP
fsr-3373	399	5	leveraged	leveraged	ADJ
fsr-3373	399	6	etfs	etfs	NOUN
fsr-3373	399	7	.	.	PUNCT
fsr-3373	400	1	financial	financial	ADJ
fsr-3373	400	2	services	services	PROPN
fsr-3373	400	3	review	review	PROPN
fsr-3373	400	4	,	,	PUNCT
fsr-3373	400	5	21	21	NUM
fsr-3373	400	6	,	,	PUNCT
fsr-3373	400	7	63–80	63–80	PROPN
fsr-3373	400	8	.	.	PUNCT
fsr-3373	401	1	maalej	maalej	PROPN
fsr-3373	401	2	,	,	PUNCT
fsr-3373	401	3	h.	h.	PROPN
fsr-3373	401	4	,	,	PUNCT
fsr-3373	401	5	&	&	CCONJ
fsr-3373	401	6	prigent	prigent	PROPN
fsr-3373	401	7	,	,	PUNCT
fsr-3373	401	8	j.	j.	PROPN
fsr-3373	401	9	(	(	PUNCT
fsr-3373	401	10	2016	2016	NUM
fsr-3373	401	11	)	)	PUNCT
fsr-3373	401	12	.	.	PUNCT
fsr-3373	402	1	on	on	ADP
fsr-3373	402	2	the	the	DET
fsr-3373	402	3	stochastic	stochastic	ADJ
fsr-3373	402	4	dominance	dominance	NOUN
fsr-3373	402	5	of	of	ADP
fsr-3373	402	6	portfolio	portfolio	NOUN
fsr-3373	402	7	insurance	insurance	NOUN
fsr-3373	402	8	strategies	strategy	NOUN
fsr-3373	402	9	.	.	PUNCT
fsr-3373	403	1	journal	journal	NOUN
fsr-3373	403	2	of	of	ADP
fsr-3373	403	3	mathematical	mathematical	ADJ
fsr-3373	403	4	finance	finance	NOUN
fsr-3373	403	5	,	,	PUNCT
fsr-3373	403	6	6	6	NUM
fsr-3373	403	7	,	,	PUNCT
fsr-3373	403	8	14–27	14–27	NUM
fsr-3373	403	9	.	.	PUNCT
fsr-3373	404	1	opdyke	opdyke	PROPN
fsr-3373	404	2	,	,	PUNCT
fsr-3373	404	3	j.	j.	PROPN
fsr-3373	404	4	(	(	PUNCT
fsr-3373	404	5	2007	2007	NUM
fsr-3373	404	6	)	)	PUNCT
fsr-3373	404	7	.	.	PUNCT
fsr-3373	405	1	comparing	compare	VERB
fsr-3373	405	2	sharpe	sharpe	NOUN
fsr-3373	405	3	ratios	ratio	NOUN
fsr-3373	405	4	:	:	PUNCT
fsr-3373	405	5	so	so	CCONJ
fsr-3373	405	6	where	where	SCONJ
fsr-3373	405	7	are	be	AUX
fsr-3373	405	8	the	the	DET
fsr-3373	405	9	p	p	NOUN
fsr-3373	405	10	-	-	PUNCT
fsr-3373	405	11	values	value	NOUN
fsr-3373	405	12	?	?	PUNCT
fsr-3373	406	1	journal	journal	NOUN
fsr-3373	406	2	of	of	ADP
fsr-3373	406	3	asset	asset	NOUN
fsr-3373	406	4	management	management	NOUN
fsr-3373	406	5	,	,	PUNCT
fsr-3373	406	6	8	8	NUM
fsr-3373	406	7	,	,	PUNCT
fsr-3373	406	8	308–336	308–336	NUM
fsr-3373	406	9	.	.	PUNCT
fsr-3373	407	1	pezier	pezier	NOUN
fsr-3373	407	2	,	,	PUNCT
fsr-3373	407	3	j.	j.	PROPN
fsr-3373	407	4	,	,	PUNCT
fsr-3373	407	5	&	&	CCONJ
fsr-3373	407	6	scheller	scheller	NOUN
fsr-3373	407	7	,	,	PUNCT
fsr-3373	407	8	j.	j.	PROPN
fsr-3373	407	9	(	(	PUNCT
fsr-3373	407	10	2013	2013	NUM
fsr-3373	407	11	)	)	PUNCT
fsr-3373	407	12	.	.	PUNCT
fsr-3373	408	1	best	good	ADJ
fsr-3373	408	2	portfolio	portfolio	NOUN
fsr-3373	408	3	insurance	insurance	NOUN
fsr-3373	408	4	for	for	ADP
fsr-3373	408	5	long	long	ADJ
fsr-3373	408	6	-	-	PUNCT
fsr-3373	408	7	term	term	NOUN
fsr-3373	408	8	investment	investment	NOUN
fsr-3373	408	9	strategies	strategy	NOUN
fsr-3373	408	10	in	in	ADP
fsr-3373	408	11	realistic	realistic	ADJ
fsr-3373	408	12	conditions	condition	NOUN
fsr-3373	408	13	.	.	PUNCT
fsr-3373	409	1	insurance	insurance	NOUN
fsr-3373	409	2	:	:	PUNCT
fsr-3373	409	3	mathematics	mathematic	NOUN
fsr-3373	409	4	and	and	CCONJ
fsr-3373	409	5	economics	economic	NOUN
fsr-3373	409	6	,	,	PUNCT
fsr-3373	409	7	52	52	NUM
fsr-3373	409	8	,	,	PUNCT
fsr-3373	409	9	263–274	263–274	NUM
fsr-3373	409	10	.	.	PUNCT
fsr-3373	410	1	scott	scott	PROPN
fsr-3373	410	2	,	,	PUNCT
fsr-3373	410	3	j.	j.	PROPN
fsr-3373	410	4	,	,	PUNCT
fsr-3373	410	5	&	&	CCONJ
fsr-3373	410	6	watsun	watsun	PROPN
fsr-3373	410	7	,	,	PUNCT
fsr-3373	410	8	j.	j.	PROPN
fsr-3373	410	9	g.	g.	PROPN
fsr-3373	410	10	(	(	PUNCT
fsr-3373	410	11	2013	2013	NUM
fsr-3373	410	12	)	)	PUNCT
fsr-3373	410	13	.	.	PUNCT
fsr-3373	411	1	the	the	DET
fsr-3373	411	2	floor	floor	NOUN
fsr-3373	411	3	-	-	PUNCT
fsr-3373	411	4	leverage	leverage	NOUN
fsr-3373	411	5	rule	rule	NOUN
fsr-3373	411	6	for	for	ADP
fsr-3373	411	7	retirement	retirement	NOUN
fsr-3373	411	8	.	.	PUNCT
fsr-3373	412	1	financial	financial	ADJ
fsr-3373	412	2	analysts	analyst	NOUN
fsr-3373	412	3	journal	journal	NOUN
fsr-3373	412	4	,	,	PUNCT
fsr-3373	412	5	69	69	NUM
fsr-3373	412	6	,	,	PUNCT
fsr-3373	412	7	45–60	45–60	PROPN
fsr-3373	412	8	.	.	PUNCT
fsr-3373	413	1	sharpe	sharpe	PROPN
fsr-3373	413	2	,	,	PUNCT
fsr-3373	413	3	w.	w.	PROPN
fsr-3373	413	4	(	(	PUNCT
fsr-3373	413	5	1964	1964	NUM
fsr-3373	413	6	)	)	PUNCT
fsr-3373	413	7	.	.	PUNCT
fsr-3373	414	1	capital	capital	NOUN
fsr-3373	414	2	asset	asset	NOUN
fsr-3373	414	3	prices	price	NOUN
fsr-3373	414	4	:	:	PUNCT
fsr-3373	414	5	a	a	DET
fsr-3373	414	6	theory	theory	NOUN
fsr-3373	414	7	of	of	ADP
fsr-3373	414	8	market	market	NOUN
fsr-3373	414	9	equilibrium	equilibrium	NOUN
fsr-3373	414	10	.	.	PUNCT
fsr-3373	415	1	journal	journal	PROPN
fsr-3373	415	2	of	of	ADP
fsr-3373	415	3	finance	finance	NOUN
fsr-3373	415	4	,	,	PUNCT
fsr-3373	415	5	19	19	NUM
fsr-3373	415	6	,	,	PUNCT
fsr-3373	415	7	425–442	425–442	NUM
fsr-3373	415	8	.	.	PUNCT
fsr-3373	416	1	sortino	sortino	PROPN
fsr-3373	416	2	,	,	PUNCT
fsr-3373	416	3	f.	f.	PROPN
fsr-3373	416	4	a.	a.	PROPN
fsr-3373	416	5	,	,	PUNCT
fsr-3373	416	6	&	&	CCONJ
fsr-3373	416	7	price	price	NOUN
fsr-3373	416	8	,	,	PUNCT
fsr-3373	416	9	l.	l.	PROPN
fsr-3373	416	10	n.	n.	PROPN
fsr-3373	416	11	(	(	PUNCT
fsr-3373	416	12	1994	1994	NUM
fsr-3373	416	13	)	)	PUNCT
fsr-3373	416	14	.	.	PUNCT
fsr-3373	417	1	performance	performance	NOUN
fsr-3373	417	2	measurement	measurement	NOUN
fsr-3373	417	3	in	in	ADP
fsr-3373	417	4	a	a	DET
fsr-3373	417	5	downside	downside	ADJ
fsr-3373	417	6	risk	risk	NOUN
fsr-3373	417	7	framework	framework	NOUN
fsr-3373	417	8	.	.	PUNCT
fsr-3373	418	1	the	the	DET
fsr-3373	418	2	journal	journal	NOUN
fsr-3373	418	3	of	of	ADP
fsr-3373	418	4	investing	investing	NOUN
fsr-3373	418	5	,	,	PUNCT
fsr-3373	418	6	3	3	NUM
fsr-3373	418	7	,	,	PUNCT
fsr-3373	418	8	59–64	59–64	NUM
fsr-3373	418	9	.	.	PUNCT
fsr-3373	419	1	trainor	trainor	PROPN
fsr-3373	419	2	,	,	PUNCT
fsr-3373	419	3	w.	w.	PROPN
fsr-3373	419	4	,	,	PUNCT
fsr-3373	419	5	&	&	CCONJ
fsr-3373	419	6	baryla	baryla	PROPN
fsr-3373	419	7	,	,	PUNCT
fsr-3373	419	8	e.	e.	PROPN
fsr-3373	419	9	(	(	PUNCT
fsr-3373	419	10	2008	2008	NUM
fsr-3373	419	11	)	)	PUNCT
fsr-3373	419	12	.	.	PUNCT
fsr-3373	420	1	leveraged	leveraged	ADJ
fsr-3373	420	2	etfs	etfs	NOUN
fsr-3373	420	3	:	:	PUNCT
fsr-3373	420	4	a	a	DET
fsr-3373	420	5	risky	risky	ADJ
fsr-3373	420	6	double	double	NOUN
fsr-3373	420	7	that	that	PRON
fsr-3373	420	8	does	do	AUX
fsr-3373	420	9	n’t	not	PART
fsr-3373	420	10	multiply	multiply	VERB
fsr-3373	420	11	by	by	ADP
fsr-3373	420	12	two	two	NUM
fsr-3373	420	13	.	.	PUNCT
fsr-3373	421	1	journal	journal	NOUN
fsr-3373	421	2	of	of	ADP
fsr-3373	421	3	financial	financial	ADJ
fsr-3373	421	4	planning	planning	NOUN
fsr-3373	421	5	,	,	PUNCT
fsr-3373	421	6	21	21	NUM
fsr-3373	421	7	,	,	PUNCT
fsr-3373	421	8	48–55	48–55	NUM
fsr-3373	421	9	.	.	PUNCT
fsr-3373	422	1	trainor	trainor	PROPN
fsr-3373	422	2	,	,	PUNCT
fsr-3373	422	3	w.	w.	PROPN
fsr-3373	422	4	(	(	PUNCT
fsr-3373	422	5	2011	2011	NUM
fsr-3373	422	6	)	)	PUNCT
fsr-3373	422	7	.	.	PUNCT
fsr-3373	423	1	solving	solve	VERB
fsr-3373	423	2	the	the	DET
fsr-3373	423	3	leveraged	leverage	VERB
fsr-3373	423	4	etf	etf	NOUN
fsr-3373	423	5	compounding	compounding	NOUN
fsr-3373	423	6	problem	problem	NOUN
fsr-3373	423	7	.	.	PUNCT
fsr-3373	424	1	journal	journal	NOUN
fsr-3373	424	2	of	of	ADP
fsr-3373	424	3	index	index	NOUN
fsr-3373	424	4	investing	investing	NOUN
fsr-3373	424	5	,	,	PUNCT
fsr-3373	424	6	1	1	NUM
fsr-3373	424	7	,	,	PUNCT
fsr-3373	424	8	66–74	66–74	NUM
fsr-3373	424	9	.	.	PUNCT
fsr-3373	425	1	trainor	trainor	PROPN
fsr-3373	425	2	,	,	PUNCT
fsr-3373	425	3	w.	w.	PROPN
fsr-3373	425	4	,	,	PUNCT
fsr-3373	425	5	&	&	CCONJ
fsr-3373	425	6	carroll	carroll	PROPN
fsr-3373	425	7	,	,	PUNCT
fsr-3373	425	8	m.	m.	NOUN
fsr-3373	425	9	(	(	PUNCT
fsr-3373	425	10	2013	2013	NUM
fsr-3373	425	11	)	)	PUNCT
fsr-3373	425	12	.	.	PUNCT
fsr-3373	426	1	forecasting	forecast	VERB
fsr-3373	426	2	holding	hold	VERB
fsr-3373	426	3	periods	period	NOUN
fsr-3373	426	4	for	for	ADP
fsr-3373	426	5	leveraged	leveraged	ADJ
fsr-3373	426	6	etfs	etfs	NOUN
fsr-3373	426	7	using	use	VERB
fsr-3373	426	8	decay	decay	NOUN
fsr-3373	426	9	thresholds	threshold	NOUN
fsr-3373	426	10	.	.	PUNCT
fsr-3373	427	1	journal	journal	PROPN
fsr-3373	427	2	of	of	ADP
fsr-3373	427	3	financial	financial	ADJ
fsr-3373	427	4	studies	study	NOUN
fsr-3373	427	5	and	and	CCONJ
fsr-3373	427	6	research	research	NOUN
fsr-3373	427	7	,	,	PUNCT
fsr-3373	427	8	2013	2013	NUM
fsr-3373	427	9	,	,	PUNCT
fsr-3373	427	10	179–190	179–190	NUM
fsr-3373	427	11	.	.	PUNCT
fsr-3373	428	1	trainor	trainor	PROPN
fsr-3373	428	2	,	,	PUNCT
fsr-3373	428	3	w.	w.	PROPN
fsr-3373	428	4	,	,	PUNCT
fsr-3373	428	5	&	&	CCONJ
fsr-3373	428	6	gregory	gregory	PROPN
fsr-3373	428	7	,	,	PUNCT
fsr-3373	428	8	r.	r.	PROPN
fsr-3373	428	9	(	(	PUNCT
fsr-3373	428	10	2016	2016	NUM
fsr-3373	428	11	)	)	PUNCT
fsr-3373	428	12	.	.	PUNCT
fsr-3373	429	1	leveraged	leverage	VERB
fsr-3373	429	2	etf	etf	NOUN
fsr-3373	429	3	option	option	NOUN
fsr-3373	429	4	strategies	strategy	NOUN
fsr-3373	429	5	.	.	PUNCT
fsr-3373	430	1	managerial	managerial	ADJ
fsr-3373	430	2	finance	finance	NOUN
fsr-3373	430	3	,	,	PUNCT
fsr-3373	430	4	42	42	NUM
fsr-3373	430	5	,	,	PUNCT
fsr-3373	430	6	438–448	438–448	NUM
fsr-3373	430	7	.	.	PUNCT
fsr-3373	431	1	tversky	tversky	PROPN
fsr-3373	431	2	,	,	PUNCT
fsr-3373	431	3	a.	a.	PROPN
fsr-3373	431	4	,	,	PUNCT
fsr-3373	431	5	&	&	CCONJ
fsr-3373	431	6	kahneman	kahneman	PROPN
fsr-3373	431	7	,	,	PUNCT
fsr-3373	431	8	d.	d.	PROPN
fsr-3373	431	9	(	(	PUNCT
fsr-3373	431	10	1992	1992	NUM
fsr-3373	431	11	)	)	PUNCT
fsr-3373	431	12	.	.	PUNCT
fsr-3373	432	1	advances	advance	NOUN
fsr-3373	432	2	in	in	ADP
fsr-3373	432	3	prospect	prospect	NOUN
fsr-3373	432	4	theory	theory	NOUN
fsr-3373	432	5	:	:	PUNCT
fsr-3373	432	6	cumulative	cumulative	ADJ
fsr-3373	432	7	representation	representation	NOUN
fsr-3373	432	8	of	of	ADP
fsr-3373	432	9	uncertainty	uncertainty	NOUN
fsr-3373	432	10	.	.	PUNCT
fsr-3373	433	1	journal	journal	NOUN
fsr-3373	433	2	of	of	ADP
fsr-3373	433	3	risk	risk	NOUN
fsr-3373	433	4	and	and	CCONJ
fsr-3373	433	5	uncertainty	uncertainty	NOUN
fsr-3373	433	6	,	,	PUNCT
fsr-3373	433	7	5	5	NUM
fsr-3373	433	8	,	,	PUNCT
fsr-3373	433	9	297–323	297–323	NUM
fsr-3373	433	10	.	.	PUNCT
fsr-3373	434	1	zieling	zieling	PROPN
fsr-3373	434	2	,	,	PUNCT
fsr-3373	434	3	d.	d.	PROPN
fsr-3373	434	4	,	,	PUNCT
fsr-3373	434	5	mahayni	mahayni	PROPN
fsr-3373	434	6	,	,	PUNCT
fsr-3373	434	7	a.	a.	NOUN
fsr-3373	434	8	,	,	PUNCT
fsr-3373	434	9	&	&	CCONJ
fsr-3373	434	10	balder	bald	ADJ
fsr-3373	434	11	,	,	PUNCT
fsr-3373	434	12	s.	s.	PROPN
fsr-3373	434	13	(	(	PUNCT
fsr-3373	434	14	2014	2014	NUM
fsr-3373	434	15	)	)	PUNCT
fsr-3373	434	16	.	.	PUNCT
fsr-3373	435	1	performance	performance	NOUN
fsr-3373	435	2	evaluation	evaluation	NOUN
fsr-3373	435	3	of	of	ADP
fsr-3373	435	4	optimized	optimize	VERB
fsr-3373	435	5	portfolio	portfolio	NOUN
fsr-3373	435	6	insurance	insurance	NOUN
fsr-3373	435	7	strategies	strategy	NOUN
fsr-3373	435	8	.	.	PUNCT
fsr-3373	436	1	journal	journal	NOUN
fsr-3373	436	2	of	of	ADP
fsr-3373	436	3	banking	banking	NOUN
fsr-3373	436	4	&	&	CCONJ
fsr-3373	436	5	finance	finance	PROPN
fsr-3373	436	6	,	,	PUNCT
fsr-3373	436	7	43	43	NUM
fsr-3373	436	8	,	,	PUNCT
fsr-3373	436	9	212–225	212–225	NUM
fsr-3373	436	10	.	.	PUNCT
fsr-3373	437	1	zweig	zweig	PROPN
fsr-3373	437	2	,	,	PUNCT
fsr-3373	437	3	j.	j.	PROPN
fsr-3373	437	4	(	(	PUNCT
fsr-3373	437	5	2009	2009	NUM
fsr-3373	437	6	)	)	PUNCT
fsr-3373	437	7	.	.	PUNCT
fsr-3373	438	1	how	how	SCONJ
fsr-3373	438	2	managing	manage	VERB
fsr-3373	438	3	risk	risk	NOUN
fsr-3373	438	4	with	with	ADP
fsr-3373	438	5	etfs	etfs	PROPN
fsr-3373	438	6	can	can	AUX
fsr-3373	438	7	backfire	backfire	VERB
fsr-3373	438	8	.	.	PUNCT
fsr-3373	439	1	wall	wall	PROPN
fsr-3373	439	2	street	street	PROPN
fsr-3373	439	3	journal	journal	PROPN
fsr-3373	439	4	,	,	PUNCT
fsr-3373	439	5	feb	feb	PROPN
fsr-3373	439	6	.	.	PROPN
fsr-3373	439	7	27	27	NUM
fsr-3373	439	8	.	.	PUNCT
fsr-3373	440	1	zweig	zweig	NOUN
fsr-3373	440	2	,	,	PUNCT
fsr-3373	440	3	j.	j.	PROPN
fsr-3373	440	4	(	(	PUNCT
fsr-3373	440	5	2017	2017	NUM
fsr-3373	440	6	)	)	PUNCT
fsr-3373	440	7	.	.	PUNCT
fsr-3373	440	8	are	be	AUX
fsr-3373	440	9	you	you	PRON
fsr-3373	440	10	really	really	ADV
fsr-3373	440	11	crazy	crazy	ADJ
fsr-3373	440	12	enough	enough	ADV
fsr-3373	440	13	to	to	PART
fsr-3373	440	14	buy	buy	VERB
fsr-3373	440	15	a	a	DET
fsr-3373	440	16	quadruple	quadruple	ADV
fsr-3373	440	17	-	-	PUNCT
fsr-3373	440	18	leveraged	leverage	VERB
fsr-3373	440	19	etf	etf	NOUN
fsr-3373	440	20	?	?	PUNCT
fsr-3373	441	1	wall	wall	PROPN
fsr-3373	441	2	street	street	PROPN
fsr-3373	441	3	journal	journal	PROPN
fsr-3373	441	4	,	,	PUNCT
fsr-3373	441	5	may	may	AUX
fsr-3373	441	6	19	19	NUM
fsr-3373	441	7	.	.	PUNCT
fsr-3373	441	8	403j	403j	PROPN
fsr-3373	441	9	.	.	PUNCT
fsr-3373	442	1	george	george	PROPN
fsr-3373	442	2	,	,	PUNCT
fsr-3373	442	3	w.j	w.j	PROPN
fsr-3373	442	4	.	.	PROPN
fsr-3373	442	5	trainor	trainor	PROPN
fsr-3373	442	6	/	/	SYM
fsr-3373	442	7	financial	financial	ADJ
fsr-3373	442	8	services	service	NOUN
fsr-3373	442	9	review	review	VERB
fsr-3373	442	10	26	26	NUM
fsr-3373	442	11	(	(	PUNCT
fsr-3373	442	12	2017	2017	NUM
fsr-3373	442	13	)	)	PUNCT
fsr-3373	442	14	387–403	387–403	NUM