id	sid	tid	token	lemma	pos
fsr-3489	1	1	finser_23_3	finser_23_3	PROPN
fsr-3489	1	2	does	do	VERB
fsr-3489	1	3	active	active	ADJ
fsr-3489	1	4	management	management	NOUN
fsr-3489	1	5	work	work	NOUN
fsr-3489	1	6	?	?	PUNCT
fsr-3489	2	1	evidence	evidence	NOUN
fsr-3489	2	2	from	from	ADP
fsr-3489	2	3	equity	equity	NOUN
fsr-3489	2	4	sector	sector	NOUN
fsr-3489	2	5	funds	fund	NOUN
fsr-3489	2	6	crystal	crystal	PROPN
fsr-3489	2	7	y.	y.	PROPN
fsr-3489	2	8	lina	lina	PROPN
fsr-3489	2	9	,	,	PUNCT
fsr-3489	2	10	*	*	PUNCT
fsr-3489	2	11	aschool	aschool	NOUN
fsr-3489	2	12	of	of	ADP
fsr-3489	2	13	business	business	NOUN
fsr-3489	2	14	,	,	PUNCT
fsr-3489	2	15	eastern	eastern	ADJ
fsr-3489	2	16	illinois	illinois	PROPN
fsr-3489	2	17	university	university	PROPN
fsr-3489	2	18	,	,	PUNCT
fsr-3489	2	19	charleston	charleston	PROPN
fsr-3489	2	20	,	,	PUNCT
fsr-3489	2	21	il	il	PROPN
fsr-3489	2	22	61920	61920	NUM
fsr-3489	2	23	,	,	PUNCT
fsr-3489	2	24	usa	usa	PROPN
fsr-3489	2	25	abstract	abstract	PROPN
fsr-3489	2	26	this	this	DET
fsr-3489	2	27	study	study	NOUN
fsr-3489	2	28	presents	present	VERB
fsr-3489	2	29	considerable	considerable	ADJ
fsr-3489	2	30	evidence	evidence	NOUN
fsr-3489	2	31	that	that	SCONJ
fsr-3489	2	32	equity	equity	NOUN
fsr-3489	2	33	sector	sector	NOUN
fsr-3489	2	34	mutual	mutual	ADJ
fsr-3489	2	35	funds	fund	NOUN
fsr-3489	2	36	,	,	PUNCT
fsr-3489	2	37	the	the	DET
fsr-3489	2	38	nine	nine	NUM
fsr-3489	2	39	fidelity	fidelity	NOUN
fsr-3489	2	40	select	select	ADJ
fsr-3489	2	41	portfolios	portfolio	NOUN
fsr-3489	2	42	here	here	ADV
fsr-3489	2	43	,	,	PUNCT
fsr-3489	2	44	have	have	AUX
fsr-3489	2	45	provided	provide	VERB
fsr-3489	2	46	better	well	ADJ
fsr-3489	2	47	after	after	ADP
fsr-3489	2	48	-	-	PUNCT
fsr-3489	2	49	expense	expense	NOUN
fsr-3489	2	50	returns	return	NOUN
fsr-3489	2	51	against	against	ADP
fsr-3489	2	52	broader	broad	ADJ
fsr-3489	2	53	market	market	NOUN
fsr-3489	2	54	etf	etf	NOUN
fsr-3489	2	55	,	,	PUNCT
fsr-3489	2	56	spy	spy	NOUN
fsr-3489	2	57	,	,	PUNCT
fsr-3489	2	58	and	and	CCONJ
fsr-3489	2	59	their	their	PRON
fsr-3489	2	60	peer	peer	NOUN
fsr-3489	2	61	sector	sector	NOUN
fsr-3489	2	62	etfs	etfs	NOUN
fsr-3489	2	63	,	,	PUNCT
fsr-3489	2	64	the	the	DET
fsr-3489	2	65	nine	nine	NUM
fsr-3489	2	66	select	select	ADJ
fsr-3489	2	67	sector	sector	NOUN
fsr-3489	2	68	spdr	spdr	NOUN
fsr-3489	2	69	funds	fund	NOUN
fsr-3489	2	70	,	,	PUNCT
fsr-3489	2	71	over	over	ADP
fsr-3489	2	72	the	the	DET
fsr-3489	2	73	sample	sample	NOUN
fsr-3489	2	74	period	period	NOUN
fsr-3489	2	75	1999–2010	1999–2010	NUM
fsr-3489	2	76	.	.	PUNCT
fsr-3489	3	1	not	not	PART
fsr-3489	3	2	only	only	ADV
fsr-3489	3	3	do	do	AUX
fsr-3489	3	4	they	they	PRON
fsr-3489	3	5	achieve	achieve	VERB
fsr-3489	3	6	higher	high	ADJ
fsr-3489	3	7	nominal	nominal	ADJ
fsr-3489	3	8	returns	return	NOUN
fsr-3489	3	9	over	over	ADP
fsr-3489	3	10	the	the	DET
fsr-3489	3	11	12	12	NUM
fsr-3489	3	12	years	year	NOUN
fsr-3489	3	13	,	,	PUNCT
fsr-3489	3	14	except	except	SCONJ
fsr-3489	3	15	for	for	ADP
fsr-3489	3	16	few	few	ADJ
fsr-3489	3	17	sector	sector	NOUN
fsr-3489	3	18	mutual	mutual	ADJ
fsr-3489	3	19	funds	fund	NOUN
fsr-3489	3	20	,	,	PUNCT
fsr-3489	3	21	some	some	PRON
fsr-3489	3	22	of	of	ADP
fsr-3489	3	23	the	the	DET
fsr-3489	3	24	funds	fund	NOUN
fsr-3489	3	25	also	also	ADV
fsr-3489	3	26	generate	generate	VERB
fsr-3489	3	27	higher	high	ADJ
fsr-3489	3	28	risk	risk	NOUN
fsr-3489	3	29	-	-	PUNCT
fsr-3489	3	30	adjusted	adjust	VERB
fsr-3489	3	31	returns	return	NOUN
fsr-3489	3	32	measured	measure	VERB
fsr-3489	3	33	by	by	ADP
fsr-3489	3	34	sharpe	sharpe	PROPN
fsr-3489	3	35	ratio	ratio	PROPN
fsr-3489	3	36	and	and	CCONJ
fsr-3489	3	37	!	!	PUNCT
fsr-3489	4	1	from	from	ADP
fsr-3489	4	2	various	various	ADJ
fsr-3489	4	3	asset	asset	NOUN
fsr-3489	4	4	pricing	pricing	NOUN
fsr-3489	4	5	models	model	NOUN
fsr-3489	4	6	.	.	PUNCT
fsr-3489	5	1	more	more	ADV
fsr-3489	5	2	important	important	ADJ
fsr-3489	5	3	,	,	PUNCT
fsr-3489	5	4	none	none	NOUN
fsr-3489	5	5	of	of	ADP
fsr-3489	5	6	the	the	DET
fsr-3489	5	7	sector	sector	NOUN
fsr-3489	5	8	mutual	mutual	ADJ
fsr-3489	5	9	funds	fund	NOUN
fsr-3489	5	10	generates	generate	VERB
fsr-3489	5	11	a	a	DET
fsr-3489	5	12	significant	significant	ADJ
fsr-3489	5	13	negative	negative	NOUN
fsr-3489	5	14	!	!	PUNCT
fsr-3489	6	1	for	for	ADP
fsr-3489	6	2	the	the	DET
fsr-3489	6	3	sample	sample	NOUN
fsr-3489	6	4	period	period	NOUN
fsr-3489	6	5	no	no	ADV
fsr-3489	6	6	matter	matter	ADV
fsr-3489	6	7	that	that	SCONJ
fsr-3489	6	8	asset	asset	NOUN
fsr-3489	6	9	pricing	pricing	NOUN
fsr-3489	6	10	model	model	NOUN
fsr-3489	6	11	is	be	AUX
fsr-3489	6	12	used	use	VERB
fsr-3489	6	13	.	.	PUNCT
fsr-3489	7	1	the	the	DET
fsr-3489	7	2	results	result	NOUN
fsr-3489	7	3	suggest	suggest	VERB
fsr-3489	7	4	that	that	SCONJ
fsr-3489	7	5	actively	actively	ADV
fsr-3489	7	6	managed	manage	VERB
fsr-3489	7	7	sector	sector	NOUN
fsr-3489	7	8	funds	fund	NOUN
fsr-3489	7	9	be	be	AUX
fsr-3489	7	10	considered	consider	VERB
fsr-3489	7	11	by	by	ADP
fsr-3489	7	12	individual	individual	ADJ
fsr-3489	7	13	investors	investor	NOUN
fsr-3489	7	14	and/or	and/or	CCONJ
fsr-3489	7	15	their	their	PRON
fsr-3489	7	16	financial	financial	ADJ
fsr-3489	7	17	planners	planner	NOUN
fsr-3489	7	18	for	for	ADP
fsr-3489	7	19	mutual	mutual	ADJ
fsr-3489	7	20	fund	fund	NOUN
fsr-3489	7	21	selection	selection	NOUN
fsr-3489	7	22	.	.	PUNCT
fsr-3489	8	1	©	©	PROPN
fsr-3489	8	2	2014	2014	NUM
fsr-3489	8	3	academy	academy	NOUN
fsr-3489	8	4	of	of	ADP
fsr-3489	8	5	financial	financial	ADJ
fsr-3489	8	6	services	service	NOUN
fsr-3489	8	7	.	.	PUNCT
fsr-3489	9	1	all	all	DET
fsr-3489	9	2	rights	right	NOUN
fsr-3489	9	3	reserved	reserve	VERB
fsr-3489	9	4	.	.	PUNCT
fsr-3489	10	1	jel	jel	PROPN
fsr-3489	10	2	classification	classification	NOUN
fsr-3489	10	3	:	:	PUNCT
fsr-3489	10	4	g11	g11	PROPN
fsr-3489	10	5	;	;	PUNCT
fsr-3489	10	6	g12	g12	PROPN
fsr-3489	10	7	keywords	keyword	NOUN
fsr-3489	10	8	:	:	PUNCT
fsr-3489	10	9	mutual	mutual	ADJ
fsr-3489	10	10	fund	fund	NOUN
fsr-3489	10	11	performance	performance	NOUN
fsr-3489	10	12	;	;	PUNCT
fsr-3489	10	13	active	active	ADJ
fsr-3489	10	14	mutual	mutual	ADJ
fsr-3489	10	15	fund	fund	NOUN
fsr-3489	10	16	management	management	NOUN
fsr-3489	10	17	;	;	PUNCT
fsr-3489	10	18	sector	sector	NOUN
fsr-3489	10	19	investing	invest	VERB
fsr-3489	10	20	1	1	NUM
fsr-3489	10	21	.	.	PUNCT
fsr-3489	11	1	introduction	introduction	NOUN
fsr-3489	11	2	the	the	DET
fsr-3489	11	3	mutual	mutual	ADJ
fsr-3489	11	4	fund	fund	NOUN
fsr-3489	11	5	industry	industry	NOUN
fsr-3489	11	6	has	have	AUX
fsr-3489	11	7	seen	see	VERB
fsr-3489	11	8	tremendous	tremendous	ADJ
fsr-3489	11	9	growth	growth	NOUN
fsr-3489	11	10	in	in	ADP
fsr-3489	11	11	the	the	DET
fsr-3489	11	12	past	past	ADJ
fsr-3489	11	13	few	few	ADJ
fsr-3489	11	14	decades	decade	NOUN
fsr-3489	11	15	.	.	PUNCT
fsr-3489	12	1	the	the	DET
fsr-3489	12	2	2013	2013	NUM
fsr-3489	12	3	investment	investment	NOUN
fsr-3489	12	4	company	company	NOUN
fsr-3489	12	5	institute	institute	NOUN
fsr-3489	12	6	fact	fact	NOUN
fsr-3489	12	7	book	book	NOUN
fsr-3489	12	8	shows	show	VERB
fsr-3489	12	9	that	that	SCONJ
fsr-3489	12	10	44.4	44.4	NUM
fsr-3489	12	11	%	%	NOUN
fsr-3489	12	12	of	of	ADP
fsr-3489	12	13	u.s	u.s	PROPN
fsr-3489	12	14	.	.	PROPN
fsr-3489	12	15	households	household	NOUN
fsr-3489	12	16	owned	own	VERB
fsr-3489	12	17	mutual	mutual	ADJ
fsr-3489	12	18	funds	fund	NOUN
fsr-3489	12	19	in	in	ADP
fsr-3489	12	20	2012	2012	NUM
fsr-3489	12	21	,	,	PUNCT
fsr-3489	12	22	up	up	ADV
fsr-3489	12	23	significantly	significantly	ADV
fsr-3489	12	24	from	from	ADP
fsr-3489	12	25	4.6	4.6	NUM
fsr-3489	12	26	%	%	NOUN
fsr-3489	12	27	in	in	ADP
fsr-3489	12	28	1980	1980	NUM
fsr-3489	12	29	and	and	CCONJ
fsr-3489	12	30	23.4	23.4	NUM
fsr-3489	12	31	%	%	NOUN
fsr-3489	12	32	in	in	ADP
fsr-3489	12	33	1990	1990	NUM
fsr-3489	12	34	,	,	PUNCT
fsr-3489	12	35	modestly	modestly	ADV
fsr-3489	12	36	down	down	ADV
fsr-3489	12	37	from	from	ADP
fsr-3489	12	38	48.6	48.6	NUM
fsr-3489	12	39	%	%	NOUN
fsr-3489	12	40	in	in	ADP
fsr-3489	12	41	2000	2000	NUM
fsr-3489	12	42	.	.	PUNCT
fsr-3489	13	1	bulk	bulk	NOUN
fsr-3489	13	2	of	of	ADP
fsr-3489	13	3	individual	individual	NOUN
fsr-3489	13	4	’s	’s	PART
fsr-3489	13	5	mutual	mutual	ADJ
fsr-3489	13	6	fund	fund	NOUN
fsr-3489	13	7	assets	asset	NOUN
fsr-3489	13	8	,	,	PUNCT
fsr-3489	13	9	$	$	SYM
fsr-3489	13	10	5.4	5.4	NUM
fsr-3489	13	11	trillion	trillion	NUM
fsr-3489	13	12	out	out	ADP
fsr-3489	13	13	of	of	ADP
fsr-3489	13	14	$	$	SYM
fsr-3489	13	15	11.1	11.1	NUM
fsr-3489	13	16	trillion	trillion	NUM
fsr-3489	13	17	,	,	PUNCT
fsr-3489	13	18	are	be	AUX
fsr-3489	13	19	invested	invest	VERB
fsr-3489	13	20	in	in	ADP
fsr-3489	13	21	equities	equity	NOUN
fsr-3489	13	22	.	.	PUNCT
fsr-3489	14	1	individual	individual	ADJ
fsr-3489	14	2	accounts	account	NOUN
fsr-3489	14	3	hold	hold	VERB
fsr-3489	14	4	90.3	90.3	NUM
fsr-3489	14	5	%	%	NOUN
fsr-3489	14	6	of	of	ADP
fsr-3489	14	7	total	total	ADJ
fsr-3489	14	8	equity	equity	NOUN
fsr-3489	14	9	mutual	mutual	ADJ
fsr-3489	14	10	fund	fund	NOUN
fsr-3489	14	11	assets	asset	NOUN
fsr-3489	14	12	(	(	PUNCT
fsr-3489	14	13	$	$	SYM
fsr-3489	14	14	5.9	5.9	NUM
fsr-3489	14	15	trillion	trillion	NUM
fsr-3489	14	16	)	)	PUNCT
fsr-3489	14	17	.	.	PUNCT
fsr-3489	15	1	with	with	ADP
fsr-3489	15	2	the	the	DET
fsr-3489	15	3	expansion	expansion	NOUN
fsr-3489	15	4	of	of	ADP
fsr-3489	15	5	defined	define	VERB
fsr-3489	15	6	contribution	contribution	NOUN
fsr-3489	15	7	plan	plan	NOUN
fsr-3489	15	8	assets	asset	NOUN
fsr-3489	15	9	,	,	PUNCT
fsr-3489	15	10	almost	almost	ADV
fsr-3489	15	11	threefold	threefold	ADV
fsr-3489	15	12	from	from	ADP
fsr-3489	15	13	$	$	SYM
fsr-3489	15	14	1.7	1.7	NUM
fsr-3489	15	15	*	*	PUNCT
fsr-3489	15	16	corresponding	correspond	VERB
fsr-3489	15	17	author	author	NOUN
fsr-3489	15	18	.	.	PUNCT
fsr-3489	16	1	tel	tel	PROPN
fsr-3489	16	2	.	.	PUNCT
fsr-3489	16	3	:	:	PUNCT
fsr-3489	16	4	!	!	PUNCT
fsr-3489	17	1	1	1	NUM
fsr-3489	17	2	-	-	SYM
fsr-3489	17	3	217	217	NUM
fsr-3489	17	4	-	-	NUM
fsr-3489	17	5	581	581	NUM
fsr-3489	17	6	-	-	NUM
fsr-3489	17	7	2227	2227	NUM
fsr-3489	17	8	;	;	PUNCT
fsr-3489	17	9	fax	fax	NOUN
fsr-3489	17	10	:	:	PUNCT
fsr-3489	17	11	!	!	PUNCT
fsr-3489	18	1	1	1	NUM
fsr-3489	18	2	-	-	SYM
fsr-3489	18	3	217	217	NUM
fsr-3489	18	4	-	-	PUNCT
fsr-3489	18	5	581	581	NUM
fsr-3489	18	6	-	-	SYM
fsr-3489	18	7	6642	6642	NUM
fsr-3489	18	8	.	.	PUNCT
fsr-3489	19	1	e	e	X
fsr-3489	19	2	-	-	NOUN
fsr-3489	19	3	mail	mail	NOUN
fsr-3489	19	4	address	address	NOUN
fsr-3489	19	5	:	:	PUNCT
fsr-3489	19	6	cylin@eiu.edu	cylin@eiu.edu	PROPN
fsr-3489	19	7	(	(	PUNCT
fsr-3489	19	8	c.y	c.y	PROPN
fsr-3489	19	9	.	.	PROPN
fsr-3489	19	10	lin	lin	PROPN
fsr-3489	19	11	)	)	PUNCT
fsr-3489	19	12	financial	financial	ADJ
fsr-3489	19	13	services	service	NOUN
fsr-3489	19	14	review	review	VERB
fsr-3489	19	15	23	23	NUM
fsr-3489	19	16	(	(	PUNCT
fsr-3489	19	17	2014	2014	NUM
fsr-3489	19	18	)	)	PUNCT
fsr-3489	19	19	249–271	249–271	NUM
fsr-3489	19	20	1057	1057	NUM
fsr-3489	19	21	-	-	SYM
fsr-3489	19	22	0810/14/$	0810/14/$	NUM
fsr-3489	19	23	–	–	PUNCT
fsr-3489	19	24	see	see	VERB
fsr-3489	19	25	front	front	ADJ
fsr-3489	19	26	matter	matter	NOUN
fsr-3489	20	1	©	©	PROPN
fsr-3489	20	2	2014	2014	NUM
fsr-3489	20	3	academy	academy	NOUN
fsr-3489	20	4	of	of	ADP
fsr-3489	20	5	financial	financial	ADJ
fsr-3489	20	6	services	service	NOUN
fsr-3489	20	7	.	.	PUNCT
fsr-3489	21	1	all	all	DET
fsr-3489	21	2	rights	right	NOUN
fsr-3489	21	3	reserved	reserve	VERB
fsr-3489	21	4	.	.	PUNCT
fsr-3489	22	1	trillion	trillion	NUM
fsr-3489	22	2	in	in	ADP
fsr-3489	22	3	1995	1995	NUM
fsr-3489	22	4	to	to	ADP
fsr-3489	22	5	$	$	SYM
fsr-3489	22	6	5.1	5.1	NUM
fsr-3489	22	7	trillion	trillion	NUM
fsr-3489	22	8	in	in	ADP
fsr-3489	22	9	2012	2012	NUM
fsr-3489	22	10	,	,	PUNCT
fsr-3489	22	11	knowledge	knowledge	NOUN
fsr-3489	22	12	in	in	ADP
fsr-3489	22	13	equity	equity	NOUN
fsr-3489	22	14	mutual	mutual	ADJ
fsr-3489	22	15	funds	fund	NOUN
fsr-3489	22	16	becomes	become	VERB
fsr-3489	22	17	more	more	ADV
fsr-3489	22	18	and	and	CCONJ
fsr-3489	22	19	more	more	ADV
fsr-3489	22	20	important	important	ADJ
fsr-3489	22	21	for	for	ADP
fsr-3489	22	22	individual	individual	ADJ
fsr-3489	22	23	investors	investor	NOUN
fsr-3489	22	24	.	.	PUNCT
fsr-3489	23	1	today	today	NOUN
fsr-3489	23	2	many	many	ADJ
fsr-3489	23	3	retirement	retirement	NOUN
fsr-3489	23	4	savings	saving	NOUN
fsr-3489	23	5	plans	plan	NOUN
fsr-3489	23	6	offer	offer	VERB
fsr-3489	23	7	a	a	DET
fsr-3489	23	8	broader	broad	ADJ
fsr-3489	23	9	range	range	NOUN
fsr-3489	23	10	of	of	ADP
fsr-3489	23	11	investment	investment	NOUN
fsr-3489	23	12	vehicles	vehicle	NOUN
fsr-3489	23	13	for	for	ADP
fsr-3489	23	14	individual	individual	ADJ
fsr-3489	23	15	investors	investor	NOUN
fsr-3489	23	16	.	.	PUNCT
fsr-3489	24	1	sector	sector	NOUN
fsr-3489	24	2	funds	fund	NOUN
fsr-3489	24	3	appear	appear	VERB
fsr-3489	24	4	on	on	ADP
fsr-3489	24	5	the	the	DET
fsr-3489	24	6	investment	investment	NOUN
fsr-3489	24	7	menu	menu	NOUN
fsr-3489	24	8	for	for	ADP
fsr-3489	24	9	many	many	ADJ
fsr-3489	24	10	plan	plan	NOUN
fsr-3489	24	11	participants	participant	NOUN
fsr-3489	24	12	.	.	PUNCT
fsr-3489	25	1	do	do	AUX
fsr-3489	25	2	they	they	PRON
fsr-3489	25	3	deserve	deserve	VERB
fsr-3489	25	4	individual	individual	ADJ
fsr-3489	25	5	investors	investor	NOUN
fsr-3489	25	6	’	'	PUNCT
fsr-3489	25	7	attention	attention	NOUN
fsr-3489	25	8	?	?	PUNCT
fsr-3489	26	1	how	how	SCONJ
fsr-3489	26	2	is	be	AUX
fsr-3489	26	3	their	their	PRON
fsr-3489	26	4	historical	historical	ADJ
fsr-3489	26	5	performance	performance	NOUN
fsr-3489	26	6	against	against	ADP
fsr-3489	26	7	their	their	PRON
fsr-3489	26	8	benchmarks	benchmark	NOUN
fsr-3489	26	9	?	?	PUNCT
fsr-3489	27	1	should	should	AUX
fsr-3489	27	2	financial	financial	ADJ
fsr-3489	27	3	planners	planner	NOUN
fsr-3489	27	4	recommend	recommend	VERB
fsr-3489	27	5	such	such	ADJ
fsr-3489	27	6	mutual	mutual	ADJ
fsr-3489	27	7	funds	fund	NOUN
fsr-3489	27	8	to	to	ADP
fsr-3489	27	9	their	their	PRON
fsr-3489	27	10	clients	client	NOUN
fsr-3489	27	11	?	?	PUNCT
fsr-3489	28	1	using	use	VERB
fsr-3489	28	2	sector	sector	NOUN
fsr-3489	28	3	funds	fund	NOUN
fsr-3489	28	4	with	with	ADP
fsr-3489	28	5	the	the	DET
fsr-3489	28	6	longest	long	ADJ
fsr-3489	28	7	history	history	NOUN
fsr-3489	28	8	,	,	PUNCT
fsr-3489	28	9	the	the	DET
fsr-3489	28	10	fidelity	fidelity	NOUN
fsr-3489	28	11	select	select	ADJ
fsr-3489	28	12	portfolios	portfolio	NOUN
fsr-3489	28	13	and	and	CCONJ
fsr-3489	28	14	the	the	DET
fsr-3489	28	15	select	select	ADJ
fsr-3489	28	16	sector	sector	NOUN
fsr-3489	28	17	spdr	spdr	NOUN
fsr-3489	28	18	funds	fund	NOUN
fsr-3489	28	19	,	,	PUNCT
fsr-3489	28	20	this	this	DET
fsr-3489	28	21	article	article	NOUN
fsr-3489	28	22	tries	try	VERB
fsr-3489	28	23	to	to	PART
fsr-3489	28	24	answer	answer	VERB
fsr-3489	28	25	these	these	DET
fsr-3489	28	26	questions	question	NOUN
fsr-3489	28	27	for	for	ADP
fsr-3489	28	28	individual	individual	ADJ
fsr-3489	28	29	investors	investor	NOUN
fsr-3489	28	30	and/or	and/or	CCONJ
fsr-3489	28	31	their	their	PRON
fsr-3489	28	32	financial	financial	ADJ
fsr-3489	28	33	planners	planner	NOUN
fsr-3489	28	34	.	.	PUNCT
fsr-3489	29	1	once	once	SCONJ
fsr-3489	29	2	investors	investor	NOUN
fsr-3489	29	3	decide	decide	VERB
fsr-3489	29	4	to	to	PART
fsr-3489	29	5	allocate	allocate	VERB
fsr-3489	29	6	their	their	PRON
fsr-3489	29	7	assets	asset	NOUN
fsr-3489	29	8	to	to	ADP
fsr-3489	29	9	the	the	DET
fsr-3489	29	10	u.s	u.s	PROPN
fsr-3489	29	11	.	.	PROPN
fsr-3489	29	12	public	public	ADJ
fsr-3489	29	13	equity	equity	NOUN
fsr-3489	29	14	market	market	NOUN
fsr-3489	29	15	,	,	PUNCT
fsr-3489	29	16	they	they	PRON
fsr-3489	29	17	must	must	AUX
fsr-3489	29	18	evaluate	evaluate	VERB
fsr-3489	29	19	possible	possible	ADJ
fsr-3489	29	20	ways	way	NOUN
fsr-3489	29	21	to	to	PART
fsr-3489	29	22	implement	implement	VERB
fsr-3489	29	23	the	the	DET
fsr-3489	29	24	allocation	allocation	NOUN
fsr-3489	29	25	in	in	ADP
fsr-3489	29	26	their	their	PRON
fsr-3489	29	27	subportfolios	subportfolio	NOUN
fsr-3489	29	28	.	.	PUNCT
fsr-3489	30	1	there	there	PRON
fsr-3489	30	2	are	be	VERB
fsr-3489	30	3	two	two	NUM
fsr-3489	30	4	dimensions	dimension	NOUN
fsr-3489	30	5	of	of	ADP
fsr-3489	30	6	this	this	DET
fsr-3489	30	7	implementation	implementation	NOUN
fsr-3489	30	8	.	.	PUNCT
fsr-3489	31	1	the	the	DET
fsr-3489	31	2	first	first	ADJ
fsr-3489	31	3	one	one	NOUN
fsr-3489	31	4	is	be	AUX
fsr-3489	31	5	indexing	indexing	NOUN
fsr-3489	31	6	or	or	CCONJ
fsr-3489	31	7	not	not	PART
fsr-3489	31	8	:	:	PUNCT
fsr-3489	31	9	do	do	AUX
fsr-3489	31	10	investors	investor	NOUN
fsr-3489	31	11	want	want	VERB
fsr-3489	31	12	to	to	PART
fsr-3489	31	13	passively	passively	ADV
fsr-3489	31	14	invest	invest	VERB
fsr-3489	31	15	so	so	SCONJ
fsr-3489	31	16	that	that	SCONJ
fsr-3489	31	17	their	their	PRON
fsr-3489	31	18	returns	return	NOUN
fsr-3489	31	19	closely	closely	ADV
fsr-3489	31	20	track	track	VERB
fsr-3489	31	21	selected	select	VERB
fsr-3489	31	22	indexes	index	NOUN
fsr-3489	31	23	and	and	CCONJ
fsr-3489	31	24	at	at	ADP
fsr-3489	31	25	the	the	DET
fsr-3489	31	26	same	same	ADJ
fsr-3489	31	27	time	time	NOUN
fsr-3489	31	28	investors	investor	NOUN
fsr-3489	31	29	pay	pay	VERB
fsr-3489	31	30	less	less	ADJ
fsr-3489	31	31	fees	fee	NOUN
fsr-3489	31	32	and	and	CCONJ
fsr-3489	31	33	experience	experience	NOUN
fsr-3489	31	34	less	less	ADJ
fsr-3489	31	35	turnover	turnover	NOUN
fsr-3489	31	36	?	?	PUNCT
fsr-3489	32	1	or	or	CCONJ
fsr-3489	32	2	do	do	AUX
fsr-3489	32	3	investors	investor	NOUN
fsr-3489	32	4	want	want	VERB
fsr-3489	32	5	to	to	PART
fsr-3489	32	6	actively	actively	ADV
fsr-3489	32	7	manage	manage	VERB
fsr-3489	32	8	their	their	PRON
fsr-3489	32	9	subportfolios	subportfolio	NOUN
fsr-3489	32	10	either	either	CCONJ
fsr-3489	32	11	in	in	ADP
fsr-3489	32	12	-	-	PUNCT
fsr-3489	32	13	house	house	NOUN
fsr-3489	32	14	or	or	CCONJ
fsr-3489	32	15	through	through	ADP
fsr-3489	32	16	external	external	ADJ
fsr-3489	32	17	fund	fund	NOUN
fsr-3489	32	18	managers	manager	NOUN
fsr-3489	32	19	?	?	PUNCT
fsr-3489	33	1	sullivan	sullivan	PROPN
fsr-3489	33	2	and	and	CCONJ
fsr-3489	33	3	xiong	xiong	PROPN
fsr-3489	33	4	(	(	PUNCT
fsr-3489	33	5	2012	2012	NUM
fsr-3489	33	6	)	)	PUNCT
fsr-3489	33	7	estimate	estimate	VERB
fsr-3489	33	8	that	that	SCONJ
fsr-3489	33	9	$	$	SYM
fsr-3489	33	10	1.2	1.2	NUM
fsr-3489	33	11	trillion	trillion	NUM
fsr-3489	33	12	out	out	ADP
fsr-3489	33	13	of	of	ADP
fsr-3489	33	14	$	$	SYM
fsr-3489	33	15	3.5	3.5	NUM
fsr-3489	33	16	trillion	trillion	NUM
fsr-3489	33	17	assets	asset	NOUN
fsr-3489	33	18	in	in	ADP
fsr-3489	33	19	the	the	DET
fsr-3489	33	20	u.s	u.s	PROPN
fsr-3489	33	21	.	.	PROPN
fsr-3489	33	22	equity	equity	NOUN
fsr-3489	33	23	mutual	mutual	ADJ
fsr-3489	33	24	funds	fund	NOUN
fsr-3489	33	25	and	and	CCONJ
fsr-3489	33	26	etfs	etfs	PROPN
fsr-3489	33	27	was	be	AUX
fsr-3489	33	28	passively	passively	ADV
fsr-3489	33	29	managed	manage	VERB
fsr-3489	33	30	as	as	ADP
fsr-3489	33	31	of	of	ADP
fsr-3489	33	32	september	september	PROPN
fsr-3489	33	33	2010	2010	NUM
fsr-3489	33	34	;	;	PUNCT
fsr-3489	33	35	equity	equity	NOUN
fsr-3489	33	36	index	index	NOUN
fsr-3489	33	37	mutual	mutual	ADJ
fsr-3489	33	38	funds	fund	NOUN
fsr-3489	33	39	and	and	CCONJ
fsr-3489	33	40	equity	equity	NOUN
fsr-3489	33	41	etfs	etfs	PROPN
fsr-3489	33	42	split	split	VERB
fsr-3489	33	43	the	the	DET
fsr-3489	33	44	share	share	NOUN
fsr-3489	33	45	of	of	ADP
fsr-3489	33	46	passively	passively	ADV
fsr-3489	33	47	managed	manage	VERB
fsr-3489	33	48	equity	equity	NOUN
fsr-3489	33	49	index	index	NOUN
fsr-3489	33	50	funds.1	funds.1	VERB
fsr-3489	33	51	the	the	DET
fsr-3489	33	52	second	second	ADJ
fsr-3489	33	53	dimension	dimension	NOUN
fsr-3489	33	54	of	of	ADP
fsr-3489	33	55	this	this	DET
fsr-3489	33	56	implementation	implementation	NOUN
fsr-3489	33	57	is	be	AUX
fsr-3489	33	58	whether	whether	SCONJ
fsr-3489	33	59	to	to	PART
fsr-3489	33	60	make	make	VERB
fsr-3489	33	61	allocation	allocation	NOUN
fsr-3489	33	62	decisions	decision	NOUN
fsr-3489	33	63	at	at	ADP
fsr-3489	33	64	the	the	DET
fsr-3489	33	65	sector	sector	NOUN
fsr-3489	33	66	level	level	NOUN
fsr-3489	33	67	:	:	PUNCT
fsr-3489	33	68	do	do	AUX
fsr-3489	33	69	investors	investor	NOUN
fsr-3489	33	70	want	want	VERB
fsr-3489	33	71	to	to	PART
fsr-3489	33	72	further	far	ADV
fsr-3489	33	73	divide	divide	VERB
fsr-3489	33	74	stocks	stock	NOUN
fsr-3489	33	75	by	by	ADP
fsr-3489	33	76	sector	sector	NOUN
fsr-3489	33	77	/	/	SYM
fsr-3489	33	78	industry	industry	NOUN
fsr-3489	33	79	and	and	CCONJ
fsr-3489	33	80	set	set	VERB
fsr-3489	33	81	up	up	ADP
fsr-3489	33	82	weight	weight	NOUN
fsr-3489	33	83	limits	limit	NOUN
fsr-3489	33	84	to	to	ADP
fsr-3489	33	85	these	these	DET
fsr-3489	33	86	groups	group	NOUN
fsr-3489	33	87	?	?	PUNCT
fsr-3489	34	1	or	or	CCONJ
fsr-3489	34	2	do	do	AUX
fsr-3489	34	3	investors	investor	NOUN
fsr-3489	34	4	not	not	PART
fsr-3489	34	5	care	care	VERB
fsr-3489	34	6	about	about	ADP
fsr-3489	34	7	sector	sector	NOUN
fsr-3489	34	8	issues	issue	NOUN
fsr-3489	34	9	at	at	ADV
fsr-3489	34	10	all	all	ADV
fsr-3489	34	11	.	.	PUNCT
fsr-3489	35	1	porter	porter	NOUN
fsr-3489	35	2	(	(	PUNCT
fsr-3489	35	3	1985	1985	NUM
fsr-3489	35	4	)	)	PUNCT
fsr-3489	35	5	and	and	CCONJ
fsr-3489	35	6	mcgahan	mcgahan	NOUN
fsr-3489	35	7	and	and	CCONJ
fsr-3489	35	8	porter	porter	NOUN
fsr-3489	35	9	(	(	PUNCT
fsr-3489	35	10	1997	1997	NUM
fsr-3489	35	11	)	)	PUNCT
fsr-3489	35	12	make	make	VERB
fsr-3489	35	13	a	a	DET
fsr-3489	35	14	strong	strong	ADJ
fsr-3489	35	15	case	case	NOUN
fsr-3489	35	16	for	for	ADP
fsr-3489	35	17	sector	sector	NOUN
fsr-3489	35	18	investing	investing	NOUN
fsr-3489	35	19	:	:	PUNCT
fsr-3489	35	20	they	they	PRON
fsr-3489	35	21	demonstrate	demonstrate	VERB
fsr-3489	35	22	that	that	SCONJ
fsr-3489	35	23	a	a	DET
fsr-3489	35	24	company	company	NOUN
fsr-3489	35	25	’s	’s	PART
fsr-3489	35	26	performance	performance	NOUN
fsr-3489	35	27	is	be	AUX
fsr-3489	35	28	influenced	influence	VERB
fsr-3489	35	29	by	by	ADP
fsr-3489	35	30	the	the	DET
fsr-3489	35	31	growth	growth	NOUN
fsr-3489	35	32	and	and	CCONJ
fsr-3489	35	33	structure	structure	NOUN
fsr-3489	35	34	of	of	ADP
fsr-3489	35	35	its	its	PRON
fsr-3489	35	36	industry	industry	NOUN
fsr-3489	35	37	.	.	PUNCT
fsr-3489	36	1	in	in	ADP
fsr-3489	36	2	addition	addition	NOUN
fsr-3489	36	3	,	,	PUNCT
fsr-3489	36	4	groysberg	groysberg	PROPN
fsr-3489	36	5	et	et	PROPN
fsr-3489	36	6	al	al	PROPN
fsr-3489	36	7	.	.	PROPN
fsr-3489	36	8	,	,	PUNCT
fsr-3489	36	9	(	(	PUNCT
fsr-3489	36	10	2011	2011	NUM
fsr-3489	36	11	)	)	PUNCT
fsr-3489	36	12	show	show	VERB
fsr-3489	36	13	that	that	PRON
fsr-3489	36	14	forecasted	forecast	VERB
fsr-3489	36	15	industry	industry	NOUN
fsr-3489	36	16	growth	growth	NOUN
fsr-3489	36	17	is	be	AUX
fsr-3489	36	18	the	the	DET
fsr-3489	36	19	most	most	ADV
fsr-3489	36	20	important	important	ADJ
fsr-3489	36	21	explanatory	explanatory	ADJ
fsr-3489	36	22	variable	variable	NOUN
fsr-3489	36	23	when	when	SCONJ
fsr-3489	36	24	analysts	analyst	NOUN
fsr-3489	36	25	construct	construct	VERB
fsr-3489	36	26	their	their	PRON
fsr-3489	36	27	forecasts	forecast	NOUN
fsr-3489	36	28	on	on	ADP
fsr-3489	36	29	companies	company	NOUN
fsr-3489	36	30	.	.	PUNCT
fsr-3489	37	1	in	in	ADP
fsr-3489	37	2	this	this	DET
fsr-3489	37	3	article	article	NOUN
fsr-3489	37	4	,	,	PUNCT
fsr-3489	37	5	i	i	PRON
fsr-3489	37	6	examine	examine	VERB
fsr-3489	37	7	the	the	DET
fsr-3489	37	8	performance	performance	NOUN
fsr-3489	37	9	of	of	ADP
fsr-3489	37	10	actively	actively	ADV
fsr-3489	37	11	managed	manage	VERB
fsr-3489	37	12	equity	equity	NOUN
fsr-3489	37	13	sector	sector	NOUN
fsr-3489	37	14	funds	fund	NOUN
fsr-3489	37	15	and	and	CCONJ
fsr-3489	37	16	their	their	PRON
fsr-3489	37	17	passively	passively	ADV
fsr-3489	37	18	managed	manage	VERB
fsr-3489	37	19	counterparties	counterpartie	NOUN
fsr-3489	37	20	to	to	PART
fsr-3489	37	21	assist	assist	VERB
fsr-3489	37	22	investors	investor	NOUN
fsr-3489	37	23	in	in	ADP
fsr-3489	37	24	their	their	PRON
fsr-3489	37	25	decisions	decision	NOUN
fsr-3489	37	26	in	in	ADP
fsr-3489	37	27	implementing	implement	VERB
fsr-3489	37	28	equity	equity	NOUN
fsr-3489	37	29	sector	sector	NOUN
fsr-3489	37	30	asset	asset	NOUN
fsr-3489	37	31	allocations	allocation	NOUN
fsr-3489	37	32	.	.	PUNCT
fsr-3489	38	1	the	the	DET
fsr-3489	38	2	research	research	NOUN
fsr-3489	38	3	question	question	NOUN
fsr-3489	38	4	i	i	PRON
fsr-3489	38	5	try	try	VERB
fsr-3489	38	6	to	to	PART
fsr-3489	38	7	answer	answer	VERB
fsr-3489	38	8	is	be	AUX
fsr-3489	38	9	:	:	PUNCT
fsr-3489	38	10	when	when	SCONJ
fsr-3489	38	11	an	an	DET
fsr-3489	38	12	investor	investor	NOUN
fsr-3489	38	13	wants	want	VERB
fsr-3489	38	14	to	to	PART
fsr-3489	38	15	use	use	VERB
fsr-3489	38	16	external	external	ADJ
fsr-3489	38	17	fund	fund	NOUN
fsr-3489	38	18	managers	manager	NOUN
fsr-3489	38	19	to	to	PART
fsr-3489	38	20	allocate	allocate	VERB
fsr-3489	38	21	assets	asset	NOUN
fsr-3489	38	22	among	among	ADP
fsr-3489	38	23	u.s	u.s	PROPN
fsr-3489	38	24	.	.	PROPN
fsr-3489	38	25	equity	equity	NOUN
fsr-3489	38	26	sectors	sector	NOUN
fsr-3489	38	27	,	,	PUNCT
fsr-3489	38	28	are	be	AUX
fsr-3489	38	29	sector	sector	NOUN
fsr-3489	38	30	index	index	NOUN
fsr-3489	38	31	funds	fund	NOUN
fsr-3489	38	32	a	a	DET
fsr-3489	38	33	better	well	ADJ
fsr-3489	38	34	choice	choice	NOUN
fsr-3489	38	35	than	than	ADP
fsr-3489	38	36	actively	actively	ADV
fsr-3489	38	37	managed	manage	VERB
fsr-3489	38	38	funds	fund	NOUN
fsr-3489	38	39	or	or	CCONJ
fsr-3489	38	40	vice	vice	NOUN
fsr-3489	38	41	versa	versa	ADV
fsr-3489	38	42	?	?	PUNCT
fsr-3489	39	1	two	two	NUM
fsr-3489	39	2	parallel	parallel	ADJ
fsr-3489	39	3	analyses	analysis	NOUN
fsr-3489	39	4	regarding	regard	VERB
fsr-3489	39	5	equity	equity	NOUN
fsr-3489	39	6	sector	sector	NOUN
fsr-3489	39	7	fund	fund	NOUN
fsr-3489	39	8	performance	performance	NOUN
fsr-3489	39	9	are	be	AUX
fsr-3489	39	10	provided	provide	VERB
fsr-3489	39	11	in	in	ADP
fsr-3489	39	12	this	this	DET
fsr-3489	39	13	article	article	NOUN
fsr-3489	39	14	.	.	PUNCT
fsr-3489	40	1	one	one	NUM
fsr-3489	40	2	is	be	AUX
fsr-3489	40	3	their	their	PRON
fsr-3489	40	4	performance	performance	NOUN
fsr-3489	40	5	against	against	ADP
fsr-3489	40	6	a	a	DET
fsr-3489	40	7	broad	broad	ADJ
fsr-3489	40	8	u.s	u.s	PROPN
fsr-3489	40	9	.	.	PROPN
fsr-3489	40	10	equity	equity	NOUN
fsr-3489	40	11	market	market	NOUN
fsr-3489	40	12	index	index	NOUN
fsr-3489	40	13	fund	fund	NOUN
fsr-3489	40	14	,	,	PUNCT
fsr-3489	40	15	which	which	PRON
fsr-3489	40	16	tests	test	VERB
fsr-3489	40	17	the	the	DET
fsr-3489	40	18	efficient	efficient	ADJ
fsr-3489	40	19	market	market	NOUN
fsr-3489	40	20	hypothesis	hypothesis	NOUN
fsr-3489	40	21	(	(	PUNCT
fsr-3489	40	22	emh	emh	PROPN
fsr-3489	40	23	)	)	PUNCT
fsr-3489	40	24	.	.	PUNCT
fsr-3489	41	1	this	this	DET
fsr-3489	41	2	analysis	analysis	NOUN
fsr-3489	41	3	serves	serve	VERB
fsr-3489	41	4	as	as	ADP
fsr-3489	41	5	a	a	DET
fsr-3489	41	6	general	general	ADJ
fsr-3489	41	7	empirical	empirical	ADJ
fsr-3489	41	8	study	study	NOUN
fsr-3489	41	9	on	on	ADP
fsr-3489	41	10	u.s	u.s	PROPN
fsr-3489	41	11	.	.	PROPN
fsr-3489	41	12	equity	equity	NOUN
fsr-3489	41	13	market	market	NOUN
fsr-3489	41	14	efficiency	efficiency	NOUN
fsr-3489	41	15	.	.	PUNCT
fsr-3489	42	1	the	the	DET
fsr-3489	42	2	other	other	ADJ
fsr-3489	42	3	is	be	AUX
fsr-3489	42	4	sector	sector	NOUN
fsr-3489	42	5	mutual	mutual	ADJ
fsr-3489	42	6	funds	fund	NOUN
fsr-3489	42	7	’	'	PUNCT
fsr-3489	42	8	performance	performance	NOUN
fsr-3489	42	9	against	against	ADP
fsr-3489	42	10	sector	sector	NOUN
fsr-3489	42	11	index	index	NOUN
fsr-3489	42	12	funds	fund	NOUN
fsr-3489	42	13	,	,	PUNCT
fsr-3489	42	14	which	which	PRON
fsr-3489	42	15	tests	test	VERB
fsr-3489	42	16	emh	emh	PROPN
fsr-3489	42	17	in	in	ADP
fsr-3489	42	18	a	a	DET
fsr-3489	42	19	smaller	small	ADJ
fsr-3489	42	20	territory	territory	NOUN
fsr-3489	42	21	:	:	PUNCT
fsr-3489	42	22	equity	equity	NOUN
fsr-3489	42	23	sector	sector	NOUN
fsr-3489	42	24	.	.	PUNCT
fsr-3489	43	1	it	it	PRON
fsr-3489	43	2	is	be	AUX
fsr-3489	43	3	arguable	arguable	ADJ
fsr-3489	43	4	that	that	SCONJ
fsr-3489	43	5	using	use	VERB
fsr-3489	43	6	a	a	DET
fsr-3489	43	7	broad	broad	ADJ
fsr-3489	43	8	equity	equity	NOUN
fsr-3489	43	9	market	market	NOUN
fsr-3489	43	10	index	index	NOUN
fsr-3489	43	11	is	be	AUX
fsr-3489	43	12	not	not	PART
fsr-3489	43	13	appropriate	appropriate	ADJ
fsr-3489	43	14	when	when	SCONJ
fsr-3489	43	15	evaluating	evaluate	VERB
fsr-3489	43	16	a	a	DET
fsr-3489	43	17	sector	sector	NOUN
fsr-3489	43	18	fund	fund	NOUN
fsr-3489	43	19	because	because	SCONJ
fsr-3489	43	20	it	it	PRON
fsr-3489	43	21	has	have	VERB
fsr-3489	43	22	a	a	DET
fsr-3489	43	23	much	much	ADV
fsr-3489	43	24	smaller	small	ADJ
fsr-3489	43	25	universe	universe	NOUN
fsr-3489	43	26	of	of	ADP
fsr-3489	43	27	securities	security	NOUN
fsr-3489	43	28	from	from	ADP
fsr-3489	43	29	which	which	PRON
fsr-3489	43	30	to	to	PART
fsr-3489	43	31	choose	choose	VERB
fsr-3489	43	32	.	.	PUNCT
fsr-3489	44	1	an	an	DET
fsr-3489	44	2	index	index	NOUN
fsr-3489	44	3	for	for	ADP
fsr-3489	44	4	the	the	DET
fsr-3489	44	5	same	same	ADJ
fsr-3489	44	6	sector	sector	NOUN
fsr-3489	44	7	would	would	AUX
fsr-3489	44	8	be	be	AUX
fsr-3489	44	9	more	more	ADV
fsr-3489	44	10	appropriate	appropriate	ADJ
fsr-3489	44	11	when	when	SCONJ
fsr-3489	44	12	used	use	VERB
fsr-3489	44	13	as	as	ADP
fsr-3489	44	14	a	a	DET
fsr-3489	44	15	benchmark	benchmark	NOUN
fsr-3489	44	16	.	.	PUNCT
fsr-3489	45	1	in	in	ADP
fsr-3489	45	2	reality	reality	NOUN
fsr-3489	45	3	,	,	PUNCT
fsr-3489	45	4	this	this	PRON
fsr-3489	45	5	is	be	AUX
fsr-3489	45	6	what	what	PRON
fsr-3489	45	7	many	many	ADJ
fsr-3489	45	8	actively	actively	ADV
fsr-3489	45	9	managed	manage	VERB
fsr-3489	45	10	funds	fund	NOUN
fsr-3489	45	11	do	do	VERB
fsr-3489	45	12	:	:	PUNCT
fsr-3489	45	13	they	they	PRON
fsr-3489	45	14	select	select	VERB
fsr-3489	45	15	an	an	DET
fsr-3489	45	16	index	index	NOUN
fsr-3489	45	17	that	that	PRON
fsr-3489	45	18	best	good	ADJ
fsr-3489	45	19	matches	match	VERB
fsr-3489	45	20	their	their	PRON
fsr-3489	45	21	investment	investment	NOUN
fsr-3489	45	22	universe	universe	NOUN
fsr-3489	45	23	as	as	ADP
fsr-3489	45	24	their	their	PRON
fsr-3489	45	25	benchmark	benchmark	NOUN
fsr-3489	45	26	.	.	PUNCT
fsr-3489	46	1	2	2	X
fsr-3489	46	2	.	.	X
fsr-3489	46	3	sector	sector	NOUN
fsr-3489	46	4	mutual	mutual	ADJ
fsr-3489	46	5	funds	fund	NOUN
fsr-3489	46	6	and	and	CCONJ
fsr-3489	46	7	etfs	etfs	PROPN
fsr-3489	46	8	a	a	DET
fsr-3489	46	9	variety	variety	NOUN
fsr-3489	46	10	of	of	ADP
fsr-3489	46	11	equity	equity	NOUN
fsr-3489	46	12	sector	sector	NOUN
fsr-3489	46	13	funds	fund	NOUN
fsr-3489	46	14	have	have	AUX
fsr-3489	46	15	been	be	AUX
fsr-3489	46	16	introduced	introduce	VERB
fsr-3489	46	17	to	to	ADP
fsr-3489	46	18	the	the	DET
fsr-3489	46	19	market	market	NOUN
fsr-3489	46	20	place	place	NOUN
fsr-3489	46	21	during	during	ADP
fsr-3489	46	22	the	the	DET
fsr-3489	46	23	past	past	ADJ
fsr-3489	46	24	several	several	ADJ
fsr-3489	46	25	decades	decade	NOUN
fsr-3489	46	26	.	.	PUNCT
fsr-3489	47	1	these	these	DET
fsr-3489	47	2	sector	sector	NOUN
fsr-3489	47	3	funds	fund	NOUN
fsr-3489	47	4	allow	allow	VERB
fsr-3489	47	5	investors	investor	NOUN
fsr-3489	47	6	to	to	PART
fsr-3489	47	7	custom	custom	VERB
fsr-3489	47	8	tailor	tailor	NOUN
fsr-3489	47	9	asset	asset	NOUN
fsr-3489	47	10	allocations	allocation	NOUN
fsr-3489	47	11	to	to	PART
fsr-3489	47	12	fit	fit	VERB
fsr-3489	47	13	250	250	NUM
fsr-3489	47	14	c.y	c.y	PROPN
fsr-3489	47	15	.	.	PROPN
fsr-3489	47	16	lin	lin	PROPN
fsr-3489	47	17	/	/	SYM
fsr-3489	47	18	financial	financial	ADJ
fsr-3489	47	19	services	service	NOUN
fsr-3489	47	20	review	review	VERB
fsr-3489	47	21	23	23	NUM
fsr-3489	47	22	(	(	PUNCT
fsr-3489	47	23	2014	2014	NUM
fsr-3489	47	24	)	)	PUNCT
fsr-3489	47	25	249–271	249–271	NUM
fsr-3489	47	26	their	their	PRON
fsr-3489	47	27	particular	particular	ADJ
fsr-3489	47	28	investment	investment	NOUN
fsr-3489	47	29	needs	need	NOUN
fsr-3489	47	30	or	or	CCONJ
fsr-3489	47	31	goals	goal	NOUN
fsr-3489	47	32	.	.	PUNCT
fsr-3489	48	1	like	like	ADP
fsr-3489	48	2	their	their	PRON
fsr-3489	48	3	broad	broad	ADJ
fsr-3489	48	4	equity	equity	NOUN
fsr-3489	48	5	market	market	NOUN
fsr-3489	48	6	counterparties	counterpartie	NOUN
fsr-3489	48	7	,	,	PUNCT
fsr-3489	48	8	index	index	NOUN
fsr-3489	48	9	sector	sector	NOUN
fsr-3489	48	10	funds	fund	NOUN
fsr-3489	48	11	emerged	emerge	VERB
fsr-3489	48	12	later	later	ADV
fsr-3489	48	13	than	than	ADP
fsr-3489	48	14	actively	actively	ADV
fsr-3489	48	15	managed	manage	VERB
fsr-3489	48	16	sector	sector	NOUN
fsr-3489	48	17	funds	fund	NOUN
fsr-3489	48	18	.	.	PUNCT
fsr-3489	49	1	two	two	NUM
fsr-3489	49	2	groups	group	NOUN
fsr-3489	49	3	of	of	ADP
fsr-3489	49	4	sector	sector	NOUN
fsr-3489	49	5	funds	fund	NOUN
fsr-3489	49	6	with	with	ADP
fsr-3489	49	7	the	the	DET
fsr-3489	49	8	longest	long	ADJ
fsr-3489	49	9	history	history	NOUN
fsr-3489	49	10	in	in	ADP
fsr-3489	49	11	each	each	DET
fsr-3489	49	12	category	category	NOUN
fsr-3489	49	13	are	be	AUX
fsr-3489	49	14	used	use	VERB
fsr-3489	49	15	in	in	ADP
fsr-3489	49	16	this	this	DET
fsr-3489	49	17	study	study	NOUN
fsr-3489	49	18	:	:	PUNCT
fsr-3489	49	19	the	the	DET
fsr-3489	49	20	fidelity	fidelity	NOUN
fsr-3489	49	21	select	select	ADJ
fsr-3489	49	22	portfolios	portfolio	NOUN
fsr-3489	49	23	and	and	CCONJ
fsr-3489	49	24	the	the	DET
fsr-3489	49	25	select	select	ADJ
fsr-3489	49	26	sector	sector	NOUN
fsr-3489	49	27	spdr	spdr	NOUN
fsr-3489	49	28	funds	fund	NOUN
fsr-3489	49	29	.	.	PUNCT
fsr-3489	50	1	in	in	ADP
fsr-3489	50	2	addition	addition	NOUN
fsr-3489	50	3	,	,	PUNCT
fsr-3489	50	4	spdr	spdr	NOUN
fsr-3489	50	5	s&p	s&p	PROPN
fsr-3489	50	6	500	500	NUM
fsr-3489	50	7	etf	etf	NOUN
fsr-3489	50	8	is	be	AUX
fsr-3489	50	9	used	use	VERB
fsr-3489	50	10	as	as	ADP
fsr-3489	50	11	an	an	DET
fsr-3489	50	12	investable	investable	ADJ
fsr-3489	50	13	benchmark	benchmark	NOUN
fsr-3489	50	14	for	for	ADP
fsr-3489	50	15	the	the	DET
fsr-3489	50	16	study	study	NOUN
fsr-3489	50	17	.	.	PUNCT
fsr-3489	51	1	2.1	2.1	NUM
fsr-3489	51	2	.	.	PUNCT
fsr-3489	52	1	fidelity	fidelity	NOUN
fsr-3489	52	2	select	select	ADJ
fsr-3489	52	3	portfolios	portfolio	NOUN
fsr-3489	52	4	the	the	DET
fsr-3489	52	5	fidelity	fidelity	NOUN
fsr-3489	52	6	’s	’s	PART
fsr-3489	52	7	web	web	NOUN
fsr-3489	52	8	site2	site2	NOUN
fsr-3489	52	9	listed	list	VERB
fsr-3489	52	10	38	38	NUM
fsr-3489	52	11	mutual	mutual	ADJ
fsr-3489	52	12	funds	fund	NOUN
fsr-3489	52	13	under	under	ADP
fsr-3489	52	14	its	its	PRON
fsr-3489	52	15	stock	stock	NOUN
fsr-3489	52	16	funds	fund	NOUN
fsr-3489	52	17	/	/	SYM
fsr-3489	52	18	sector	sector	NOUN
fsr-3489	52	19	funds	fund	NOUN
fsr-3489	52	20	category	category	NOUN
fsr-3489	52	21	at	at	ADP
fsr-3489	52	22	the	the	DET
fsr-3489	52	23	time	time	NOUN
fsr-3489	52	24	of	of	ADP
fsr-3489	52	25	writing	write	VERB
fsr-3489	52	26	this	this	DET
fsr-3489	52	27	article	article	NOUN
fsr-3489	52	28	.	.	PUNCT
fsr-3489	53	1	the	the	DET
fsr-3489	53	2	inception	inception	ADJ
fsr-3489	53	3	date	date	NOUN
fsr-3489	53	4	of	of	ADP
fsr-3489	53	5	the	the	DET
fsr-3489	53	6	earliest	early	ADJ
fsr-3489	53	7	three	three	NUM
fsr-3489	53	8	sector	sector	NOUN
fsr-3489	53	9	funds	fund	NOUN
fsr-3489	53	10	(	(	PUNCT
fsr-3489	53	11	energy	energy	NOUN
fsr-3489	53	12	,	,	PUNCT
fsr-3489	53	13	healthcare	healthcare	NOUN
fsr-3489	53	14	,	,	PUNCT
fsr-3489	53	15	and	and	CCONJ
fsr-3489	53	16	technology	technology	NOUN
fsr-3489	53	17	)	)	PUNCT
fsr-3489	53	18	is	be	AUX
fsr-3489	53	19	july	july	PROPN
fsr-3489	53	20	14	14	NUM
fsr-3489	53	21	,	,	PUNCT
fsr-3489	53	22	1981	1981	NUM
fsr-3489	53	23	.	.	PUNCT
fsr-3489	54	1	i	i	PRON
fsr-3489	54	2	identified	identify	VERB
fsr-3489	54	3	nine	nine	NUM
fsr-3489	54	4	broader	broad	ADJ
fsr-3489	54	5	sector	sector	NOUN
fsr-3489	54	6	funds	fund	NOUN
fsr-3489	54	7	based	base	VERB
fsr-3489	54	8	on	on	ADP
fsr-3489	54	9	fund	fund	NOUN
fsr-3489	54	10	prospectus	prospectus	NOUN
fsr-3489	54	11	:	:	PUNCT
fsr-3489	54	12	select	select	ADJ
fsr-3489	54	13	consumer	consumer	NOUN
fsr-3489	54	14	discretionary	discretionary	ADJ
fsr-3489	54	15	portfolio	portfolio	NOUN
fsr-3489	54	16	(	(	PUNCT
fsr-3489	54	17	fscpx	fscpx	PROPN
fsr-3489	54	18	)	)	PUNCT
fsr-3489	54	19	,	,	PUNCT
fsr-3489	54	20	select	select	ADJ
fsr-3489	54	21	consumer	consumer	NOUN
fsr-3489	54	22	staples	staple	NOUN
fsr-3489	54	23	portfolio	portfolio	NOUN
fsr-3489	54	24	(	(	PUNCT
fsr-3489	54	25	fdfax	fdfax	PROPN
fsr-3489	54	26	)	)	PUNCT
fsr-3489	54	27	,	,	PUNCT
fsr-3489	54	28	select	select	ADJ
fsr-3489	54	29	energy	energy	NOUN
fsr-3489	54	30	portfolio	portfolio	NOUN
fsr-3489	54	31	(	(	PUNCT
fsr-3489	54	32	fsenx	fsenx	PROPN
fsr-3489	54	33	)	)	PUNCT
fsr-3489	54	34	,	,	PUNCT
fsr-3489	54	35	select	select	VERB
fsr-3489	54	36	financial	financial	ADJ
fsr-3489	54	37	services	service	NOUN
fsr-3489	54	38	portfolio	portfolio	NOUN
fsr-3489	54	39	(	(	PUNCT
fsr-3489	54	40	fidsx	fidsx	NOUN
fsr-3489	54	41	)	)	PUNCT
fsr-3489	54	42	,	,	PUNCT
fsr-3489	54	43	select	select	ADJ
fsr-3489	54	44	health	health	NOUN
fsr-3489	54	45	care	care	NOUN
fsr-3489	54	46	portfolio	portfolio	NOUN
fsr-3489	54	47	(	(	PUNCT
fsr-3489	54	48	fsphx	fsphx	NOUN
fsr-3489	54	49	)	)	PUNCT
fsr-3489	54	50	,	,	PUNCT
fsr-3489	54	51	select	select	ADJ
fsr-3489	54	52	industrials	industrial	NOUN
fsr-3489	54	53	portfolio	portfolio	NOUN
fsr-3489	54	54	(	(	PUNCT
fsr-3489	54	55	fcyix	fcyix	PROPN
fsr-3489	54	56	)	)	PUNCT
fsr-3489	54	57	,	,	PUNCT
fsr-3489	54	58	select	select	ADJ
fsr-3489	54	59	materials	material	NOUN
fsr-3489	54	60	portfolio	portfolio	NOUN
fsr-3489	54	61	(	(	PUNCT
fsr-3489	54	62	fsdpx	fsdpx	PROPN
fsr-3489	54	63	)	)	PUNCT
fsr-3489	54	64	,	,	PUNCT
fsr-3489	54	65	select	select	ADJ
fsr-3489	54	66	technology	technology	NOUN
fsr-3489	54	67	portfolio	portfolio	NOUN
fsr-3489	54	68	(	(	PUNCT
fsr-3489	54	69	fsptx	fsptx	PROPN
fsr-3489	54	70	)	)	PUNCT
fsr-3489	54	71	,	,	PUNCT
fsr-3489	54	72	and	and	CCONJ
fsr-3489	54	73	select	select	ADJ
fsr-3489	54	74	utilities	utility	NOUN
fsr-3489	54	75	portfolio	portfolio	NOUN
fsr-3489	54	76	(	(	PUNCT
fsr-3489	54	77	fsutx).3	fsutx).3	X
fsr-3489	54	78	the	the	DET
fsr-3489	54	79	above	above	ADJ
fsr-3489	54	80	funds	fund	NOUN
fsr-3489	54	81	match	match	VERB
fsr-3489	54	82	nine	nine	NUM
fsr-3489	54	83	sector	sector	NOUN
fsr-3489	54	84	index	index	NOUN
fsr-3489	54	85	funds	fund	NOUN
fsr-3489	54	86	that	that	PRON
fsr-3489	54	87	are	be	AUX
fsr-3489	54	88	described	describe	VERB
fsr-3489	54	89	later	later	ADV
fsr-3489	54	90	.	.	PUNCT
fsr-3489	55	1	these	these	DET
fsr-3489	55	2	sector	sector	NOUN
fsr-3489	55	3	mutual	mutual	ADJ
fsr-3489	55	4	funds	fund	NOUN
fsr-3489	55	5	were	be	AUX
fsr-3489	55	6	started	start	VERB
fsr-3489	55	7	between	between	ADP
fsr-3489	55	8	july	july	PROPN
fsr-3489	55	9	1981	1981	NUM
fsr-3489	55	10	and	and	CCONJ
fsr-3489	55	11	march	march	PROPN
fsr-3489	55	12	1997	1997	NUM
fsr-3489	55	13	.	.	PUNCT
fsr-3489	56	1	most	most	ADJ
fsr-3489	56	2	of	of	ADP
fsr-3489	56	3	the	the	DET
fsr-3489	56	4	other	other	ADJ
fsr-3489	56	5	funds	fund	NOUN
fsr-3489	56	6	listed	list	VERB
fsr-3489	56	7	are	be	AUX
fsr-3489	56	8	narrower	narrow	ADJ
fsr-3489	56	9	focused	focus	VERB
fsr-3489	56	10	industry	industry	NOUN
fsr-3489	56	11	funds	fund	NOUN
fsr-3489	56	12	.	.	PUNCT
fsr-3489	57	1	according	accord	VERB
fsr-3489	57	2	to	to	ADP
fsr-3489	57	3	fidelity	fidelity	PROPN
fsr-3489	57	4	’s	’s	PART
fsr-3489	57	5	fund	fund	NOUN
fsr-3489	57	6	prospectuses	prospectus	NOUN
fsr-3489	57	7	,	,	PUNCT
fsr-3489	57	8	these	these	DET
fsr-3489	57	9	funds	fund	NOUN
fsr-3489	57	10	seek	seek	VERB
fsr-3489	57	11	capital	capital	NOUN
fsr-3489	57	12	appreciation	appreciation	NOUN
fsr-3489	57	13	,	,	PUNCT
fsr-3489	57	14	invest	invest	VERB
fsr-3489	57	15	in	in	ADP
fsr-3489	57	16	domestic	domestic	ADJ
fsr-3489	57	17	and	and	CCONJ
fsr-3489	57	18	foreign	foreign	ADJ
fsr-3489	57	19	issuers	issuer	NOUN
fsr-3489	57	20	,	,	PUNCT
fsr-3489	57	21	normally	normally	ADV
fsr-3489	57	22	invest	invest	VERB
fsr-3489	57	23	primarily	primarily	ADV
fsr-3489	57	24	in	in	ADP
fsr-3489	57	25	common	common	ADJ
fsr-3489	57	26	stocks	stock	NOUN
fsr-3489	57	27	,	,	PUNCT
fsr-3489	57	28	and	and	CCONJ
fsr-3489	57	29	invest	invest	VERB
fsr-3489	57	30	at	at	ADV
fsr-3489	57	31	least	least	ADV
fsr-3489	57	32	80	80	NUM
fsr-3489	57	33	%	%	NOUN
fsr-3489	57	34	of	of	ADP
fsr-3489	57	35	assets	asset	NOUN
fsr-3489	57	36	in	in	ADP
fsr-3489	57	37	securities	security	NOUN
fsr-3489	57	38	of	of	ADP
fsr-3489	57	39	companies	company	NOUN
fsr-3489	57	40	principally	principally	ADV
fsr-3489	57	41	engaged	engage	VERB
fsr-3489	57	42	in	in	ADP
fsr-3489	57	43	the	the	DET
fsr-3489	57	44	selected	select	VERB
fsr-3489	57	45	sector	sector	NOUN
fsr-3489	57	46	.	.	PUNCT
fsr-3489	58	1	in	in	ADP
fsr-3489	58	2	other	other	ADJ
fsr-3489	58	3	words	word	NOUN
fsr-3489	58	4	,	,	PUNCT
fsr-3489	58	5	these	these	DET
fsr-3489	58	6	funds	fund	NOUN
fsr-3489	58	7	are	be	AUX
fsr-3489	58	8	actively	actively	ADV
fsr-3489	58	9	managed	manage	VERB
fsr-3489	58	10	.	.	PUNCT
fsr-3489	59	1	fidelity	fidelity	PROPN
fsr-3489	59	2	management	management	PROPN
fsr-3489	59	3	&	&	CCONJ
fsr-3489	59	4	research	research	PROPN
fsr-3489	59	5	company	company	NOUN
fsr-3489	59	6	is	be	AUX
fsr-3489	59	7	the	the	DET
fsr-3489	59	8	fund	fund	NOUN
fsr-3489	59	9	’s	’s	PART
fsr-3489	59	10	manager	manager	NOUN
fsr-3489	59	11	.	.	PUNCT
fsr-3489	60	1	the	the	DET
fsr-3489	60	2	fidelity	fidelity	PROPN
fsr-3489	60	3	select	select	ADJ
fsr-3489	60	4	portfolios	portfolio	NOUN
fsr-3489	60	5	have	have	VERB
fsr-3489	60	6	an	an	DET
fsr-3489	60	7	expense	expense	NOUN
fsr-3489	60	8	ratio	ratio	NOUN
fsr-3489	60	9	between	between	ADP
fsr-3489	60	10	0.80	0.80	NUM
fsr-3489	60	11	%	%	NOUN
fsr-3489	60	12	(	(	PUNCT
fsr-3489	60	13	healthcare	healthcare	PROPN
fsr-3489	60	14	)	)	PUNCT
fsr-3489	60	15	and	and	CCONJ
fsr-3489	60	16	1.41	1.41	NUM
fsr-3489	60	17	%	%	NOUN
fsr-3489	60	18	(	(	PUNCT
fsr-3489	60	19	materials	material	NOUN
fsr-3489	60	20	)	)	PUNCT
fsr-3489	60	21	as	as	ADP
fsr-3489	60	22	of	of	ADP
fsr-3489	60	23	february	february	PROPN
fsr-3489	60	24	29	29	NUM
fsr-3489	60	25	,	,	PUNCT
fsr-3489	60	26	2012	2012	NUM
fsr-3489	60	27	.	.	PUNCT
fsr-3489	61	1	the	the	DET
fsr-3489	61	2	portfolio	portfolio	NOUN
fsr-3489	61	3	turnover	turnover	NOUN
fsr-3489	61	4	rate	rate	NOUN
fsr-3489	61	5	is	be	AUX
fsr-3489	61	6	between	between	ADP
fsr-3489	61	7	35	35	NUM
fsr-3489	61	8	%	%	NOUN
fsr-3489	61	9	(	(	PUNCT
fsr-3489	61	10	consumer	consumer	NOUN
fsr-3489	61	11	staples	staple	NOUN
fsr-3489	61	12	)	)	PUNCT
fsr-3489	61	13	and	and	CCONJ
fsr-3489	61	14	384	384	NUM
fsr-3489	61	15	%	%	NOUN
fsr-3489	61	16	(	(	PUNCT
fsr-3489	61	17	financial	financial	ADJ
fsr-3489	61	18	services	service	NOUN
fsr-3489	61	19	)	)	PUNCT
fsr-3489	61	20	.	.	PUNCT
fsr-3489	62	1	the	the	DET
fsr-3489	62	2	funds	fund	NOUN
fsr-3489	62	3	have	have	VERB
fsr-3489	62	4	net	net	ADJ
fsr-3489	62	5	assets	asset	NOUN
fsr-3489	62	6	between	between	ADP
fsr-3489	62	7	$	$	SYM
fsr-3489	62	8	0.28	0.28	NUM
fsr-3489	62	9	billion	billion	NUM
fsr-3489	62	10	(	(	PUNCT
fsr-3489	62	11	consumer	consumer	NOUN
fsr-3489	62	12	discretionary	discretionary	NOUN
fsr-3489	62	13	)	)	PUNCT
fsr-3489	62	14	and	and	CCONJ
fsr-3489	62	15	$	$	SYM
fsr-3489	62	16	2.50	2.50	NUM
fsr-3489	62	17	billion	billion	NUM
fsr-3489	62	18	(	(	PUNCT
fsr-3489	62	19	energy).4	energy).4	NOUN
fsr-3489	62	20	fidelity	fidelity	NOUN
fsr-3489	62	21	charges	charge	VERB
fsr-3489	62	22	a	a	DET
fsr-3489	62	23	short	short	ADJ
fsr-3489	62	24	-	-	PUNCT
fsr-3489	62	25	term	term	NOUN
fsr-3489	62	26	redemption	redemption	NOUN
fsr-3489	62	27	fee	fee	NOUN
fsr-3489	62	28	,	,	PUNCT
fsr-3489	62	29	0.75	0.75	NUM
fsr-3489	62	30	%	%	NOUN
fsr-3489	62	31	,	,	PUNCT
fsr-3489	62	32	when	when	SCONJ
fsr-3489	62	33	money	money	NOUN
fsr-3489	62	34	is	be	AUX
fsr-3489	62	35	withdrawn	withdraw	VERB
fsr-3489	62	36	from	from	ADP
fsr-3489	62	37	a	a	DET
fsr-3489	62	38	sector	sector	NOUN
fsr-3489	62	39	fund	fund	NOUN
fsr-3489	62	40	within	within	ADP
fsr-3489	62	41	30	30	NUM
fsr-3489	62	42	days	day	NOUN
fsr-3489	62	43	of	of	ADP
fsr-3489	62	44	purchase	purchase	NOUN
fsr-3489	62	45	to	to	PART
fsr-3489	62	46	reduce	reduce	VERB
fsr-3489	62	47	short	short	ADJ
fsr-3489	62	48	-	-	PUNCT
fsr-3489	62	49	term	term	NOUN
fsr-3489	62	50	mutual	mutual	ADJ
fsr-3489	62	51	fund	fund	NOUN
fsr-3489	62	52	trading.5	trading.5	ADP
fsr-3489	62	53	all	all	DET
fsr-3489	62	54	these	these	DET
fsr-3489	62	55	sector	sector	NOUN
fsr-3489	62	56	funds	fund	NOUN
fsr-3489	62	57	are	be	AUX
fsr-3489	62	58	open	open	ADJ
fsr-3489	62	59	to	to	ADP
fsr-3489	62	60	new	new	ADJ
fsr-3489	62	61	investors	investor	NOUN
fsr-3489	62	62	.	.	PUNCT
fsr-3489	63	1	2.2	2.2	NUM
fsr-3489	63	2	.	.	PUNCT
fsr-3489	63	3	select	select	ADJ
fsr-3489	63	4	sector	sector	NOUN
fsr-3489	63	5	spdr	spdr	NOUN
fsr-3489	63	6	funds	fund	VERB
fsr-3489	63	7	the	the	DET
fsr-3489	63	8	select	select	ADJ
fsr-3489	63	9	sector	sector	NOUN
fsr-3489	63	10	spdr	spdr	PROPN
fsr-3489	63	11	trust	trust	PROPN
fsr-3489	63	12	was	be	AUX
fsr-3489	63	13	organized	organize	VERB
fsr-3489	63	14	as	as	ADP
fsr-3489	63	15	a	a	DET
fsr-3489	63	16	massachusetts	massachusetts	PROPN
fsr-3489	63	17	business	business	PROPN
fsr-3489	63	18	trust	trust	NOUN
fsr-3489	63	19	on	on	ADP
fsr-3489	63	20	june	june	PROPN
fsr-3489	63	21	10	10	NUM
fsr-3489	63	22	,	,	PUNCT
fsr-3489	63	23	1998	1998	NUM
fsr-3489	63	24	.	.	PUNCT
fsr-3489	64	1	state	state	PROPN
fsr-3489	64	2	street	street	PROPN
fsr-3489	64	3	global	global	ADJ
fsr-3489	64	4	advisors	advisor	NOUN
fsr-3489	64	5	serves	serve	VERB
fsr-3489	64	6	as	as	ADP
fsr-3489	64	7	the	the	DET
fsr-3489	64	8	fund	fund	NOUN
fsr-3489	64	9	manager	manager	NOUN
fsr-3489	64	10	.	.	PUNCT
fsr-3489	65	1	the	the	DET
fsr-3489	65	2	trust	trust	NOUN
fsr-3489	65	3	consists	consist	VERB
fsr-3489	65	4	of	of	ADP
fsr-3489	65	5	nine	nine	NUM
fsr-3489	65	6	separate	separate	ADJ
fsr-3489	65	7	investment	investment	NOUN
fsr-3489	65	8	portfolios	portfolio	NOUN
fsr-3489	65	9	(	(	PUNCT
fsr-3489	65	10	each	each	PRON
fsr-3489	65	11	a	a	DET
fsr-3489	65	12	“	"	PUNCT
fsr-3489	65	13	select	select	ADJ
fsr-3489	65	14	sector	sector	NOUN
fsr-3489	65	15	spdr	spdr	PROPN
fsr-3489	65	16	fund	fund	PROPN
fsr-3489	65	17	”	"	PUNCT
fsr-3489	65	18	)	)	PUNCT
fsr-3489	65	19	incepted	incepte	VERB
fsr-3489	65	20	in	in	ADP
fsr-3489	65	21	december	december	PROPN
fsr-3489	65	22	1998	1998	NUM
fsr-3489	65	23	:	:	PUNCT
fsr-3489	65	24	the	the	DET
fsr-3489	65	25	consumer	consumer	NOUN
fsr-3489	65	26	discretionary	discretionary	ADJ
fsr-3489	65	27	select	select	ADJ
fsr-3489	65	28	sector	sector	NOUN
fsr-3489	65	29	spdr	spdr	NOUN
fsr-3489	65	30	fund	fund	PROPN
fsr-3489	65	31	(	(	PUNCT
fsr-3489	65	32	xly	xly	PROPN
fsr-3489	65	33	)	)	PUNCT
fsr-3489	65	34	,	,	PUNCT
fsr-3489	65	35	the	the	DET
fsr-3489	65	36	consumer	consumer	NOUN
fsr-3489	65	37	staples	staple	NOUN
fsr-3489	65	38	select	select	VERB
fsr-3489	65	39	sector	sector	NOUN
fsr-3489	65	40	spdr	spdr	NOUN
fsr-3489	65	41	fund	fund	PROPN
fsr-3489	65	42	(	(	PUNCT
fsr-3489	65	43	xlp	xlp	PROPN
fsr-3489	65	44	)	)	PUNCT
fsr-3489	65	45	,	,	PUNCT
fsr-3489	65	46	the	the	DET
fsr-3489	65	47	energy	energy	NOUN
fsr-3489	65	48	select	select	ADJ
fsr-3489	65	49	sector	sector	NOUN
fsr-3489	65	50	spdr	spdr	PROPN
fsr-3489	65	51	fund	fund	PROPN
fsr-3489	65	52	(	(	PUNCT
fsr-3489	65	53	xle	xle	PROPN
fsr-3489	65	54	)	)	PUNCT
fsr-3489	65	55	,	,	PUNCT
fsr-3489	65	56	the	the	DET
fsr-3489	65	57	financial	financial	ADJ
fsr-3489	65	58	select	select	ADJ
fsr-3489	65	59	sector	sector	NOUN
fsr-3489	65	60	spdr	spdr	NOUN
fsr-3489	65	61	fund	fund	PROPN
fsr-3489	65	62	(	(	PUNCT
fsr-3489	65	63	xlf	xlf	PROPN
fsr-3489	65	64	)	)	PUNCT
fsr-3489	65	65	,	,	PUNCT
fsr-3489	65	66	the	the	DET
fsr-3489	65	67	health	health	NOUN
fsr-3489	65	68	care	care	NOUN
fsr-3489	65	69	select	select	ADJ
fsr-3489	65	70	sector	sector	NOUN
fsr-3489	65	71	spdr	spdr	NOUN
fsr-3489	65	72	fund	fund	PROPN
fsr-3489	65	73	(	(	PUNCT
fsr-3489	65	74	xlv	xlv	PROPN
fsr-3489	65	75	)	)	PUNCT
fsr-3489	65	76	,	,	PUNCT
fsr-3489	65	77	the	the	DET
fsr-3489	65	78	industrial	industrial	ADJ
fsr-3489	65	79	select	select	ADJ
fsr-3489	65	80	sector	sector	NOUN
fsr-3489	65	81	spdr	spdr	NOUN
fsr-3489	65	82	fund	fund	PROPN
fsr-3489	65	83	(	(	PUNCT
fsr-3489	65	84	xli	xli	PROPN
fsr-3489	65	85	)	)	PUNCT
fsr-3489	65	86	,	,	PUNCT
fsr-3489	65	87	the	the	DET
fsr-3489	65	88	materials	material	NOUN
fsr-3489	65	89	select	select	VERB
fsr-3489	65	90	sector	sector	NOUN
fsr-3489	65	91	spdr	spdr	NOUN
fsr-3489	65	92	fund	fund	PROPN
fsr-3489	65	93	(	(	PUNCT
fsr-3489	65	94	xlb	xlb	PROPN
fsr-3489	65	95	)	)	PUNCT
fsr-3489	65	96	,	,	PUNCT
fsr-3489	65	97	the	the	DET
fsr-3489	65	98	technology	technology	NOUN
fsr-3489	65	99	select	select	ADJ
fsr-3489	65	100	sector	sector	NOUN
fsr-3489	65	101	spdr	spdr	NOUN
fsr-3489	65	102	fund	fund	PROPN
fsr-3489	65	103	(	(	PUNCT
fsr-3489	65	104	xlk	xlk	PROPN
fsr-3489	65	105	)	)	PUNCT
fsr-3489	65	106	,	,	PUNCT
fsr-3489	65	107	and	and	CCONJ
fsr-3489	65	108	the	the	DET
fsr-3489	65	109	utilities	utility	NOUN
fsr-3489	65	110	select	select	VERB
fsr-3489	65	111	sector	sector	NOUN
fsr-3489	65	112	spdr	spdr	NOUN
fsr-3489	65	113	fund	fund	PROPN
fsr-3489	65	114	(	(	PUNCT
fsr-3489	65	115	xlu	xlu	ADJ
fsr-3489	65	116	)	)	PUNCT
fsr-3489	65	117	.	.	PUNCT
fsr-3489	66	1	these	these	DET
fsr-3489	66	2	sector	sector	NOUN
fsr-3489	66	3	funds	fund	NOUN
fsr-3489	66	4	seek	seek	VERB
fsr-3489	66	5	to	to	PART
fsr-3489	66	6	provide	provide	VERB
fsr-3489	66	7	investment	investment	NOUN
fsr-3489	66	8	results	result	NOUN
fsr-3489	66	9	that	that	SCONJ
fsr-3489	66	10	,	,	PUNCT
fsr-3489	66	11	before	before	ADP
fsr-3489	66	12	expenses	expense	NOUN
fsr-3489	66	13	,	,	PUNCT
fsr-3489	66	14	correspond	correspond	VERB
fsr-3489	66	15	generally	generally	ADV
fsr-3489	66	16	to	to	ADP
fsr-3489	66	17	the	the	DET
fsr-3489	66	18	price	price	NOUN
fsr-3489	66	19	and	and	CCONJ
fsr-3489	66	20	yield	yield	VERB
fsr-3489	66	21	performance	performance	NOUN
fsr-3489	66	22	of	of	ADP
fsr-3489	66	23	publicly	publicly	ADV
fsr-3489	66	24	traded	trade	VERB
fsr-3489	66	25	equity	equity	NOUN
fsr-3489	66	26	securities	security	NOUN
fsr-3489	66	27	of	of	ADP
fsr-3489	66	28	companies	company	NOUN
fsr-3489	66	29	in	in	ADP
fsr-3489	66	30	certain	certain	ADJ
fsr-3489	66	31	“	"	PUNCT
fsr-3489	66	32	select	select	ADJ
fsr-3489	66	33	sector	sector	NOUN
fsr-3489	66	34	indexes	index	NOUN
fsr-3489	66	35	”	"	PUNCT
fsr-3489	66	36	:	:	PUNCT
fsr-3489	66	37	the	the	DET
fsr-3489	66	38	consumer	consumer	NOUN
fsr-3489	66	39	discretionary	discretionary	ADJ
fsr-3489	66	40	251c.y	251c.y	PROPN
fsr-3489	66	41	.	.	PUNCT
fsr-3489	67	1	lin	lin	PROPN
fsr-3489	67	2	/	/	SYM
fsr-3489	67	3	financial	financial	ADJ
fsr-3489	67	4	services	service	NOUN
fsr-3489	67	5	review	review	VERB
fsr-3489	67	6	23	23	NUM
fsr-3489	67	7	(	(	PUNCT
fsr-3489	67	8	2014	2014	NUM
fsr-3489	67	9	)	)	PUNCT
fsr-3489	67	10	249–271	249–271	NUM
fsr-3489	67	11	select	select	ADJ
fsr-3489	67	12	sector	sector	NOUN
fsr-3489	67	13	index	index	NOUN
fsr-3489	67	14	,	,	PUNCT
fsr-3489	67	15	the	the	DET
fsr-3489	67	16	consumer	consumer	NOUN
fsr-3489	67	17	staples	staple	NOUN
fsr-3489	67	18	select	select	VERB
fsr-3489	67	19	sector	sector	NOUN
fsr-3489	67	20	index	index	NOUN
fsr-3489	67	21	,	,	PUNCT
fsr-3489	67	22	the	the	DET
fsr-3489	67	23	energy	energy	NOUN
fsr-3489	67	24	select	select	ADJ
fsr-3489	67	25	sector	sector	NOUN
fsr-3489	67	26	index	index	NOUN
fsr-3489	67	27	,	,	PUNCT
fsr-3489	67	28	the	the	DET
fsr-3489	67	29	financial	financial	ADJ
fsr-3489	67	30	select	select	ADJ
fsr-3489	67	31	sector	sector	NOUN
fsr-3489	67	32	index	index	NOUN
fsr-3489	67	33	,	,	PUNCT
fsr-3489	67	34	the	the	DET
fsr-3489	67	35	health	health	NOUN
fsr-3489	67	36	care	care	NOUN
fsr-3489	67	37	select	select	PROPN
fsr-3489	67	38	sector	sector	NOUN
fsr-3489	67	39	index	index	NOUN
fsr-3489	67	40	,	,	PUNCT
fsr-3489	67	41	the	the	DET
fsr-3489	67	42	industrial	industrial	ADJ
fsr-3489	67	43	select	select	ADJ
fsr-3489	67	44	sector	sector	NOUN
fsr-3489	67	45	index	index	NOUN
fsr-3489	67	46	,	,	PUNCT
fsr-3489	67	47	the	the	DET
fsr-3489	67	48	materials	material	NOUN
fsr-3489	67	49	select	select	ADJ
fsr-3489	67	50	sector	sector	NOUN
fsr-3489	67	51	index	index	NOUN
fsr-3489	67	52	,	,	PUNCT
fsr-3489	67	53	the	the	DET
fsr-3489	67	54	technology	technology	NOUN
fsr-3489	67	55	select	select	ADJ
fsr-3489	67	56	sector	sector	NOUN
fsr-3489	67	57	index	index	NOUN
fsr-3489	67	58	,	,	PUNCT
fsr-3489	67	59	and	and	CCONJ
fsr-3489	67	60	the	the	DET
fsr-3489	67	61	utilities	utility	NOUN
fsr-3489	67	62	select	select	VERB
fsr-3489	67	63	sector	sector	NOUN
fsr-3489	67	64	index	index	NOUN
fsr-3489	67	65	.	.	PUNCT
fsr-3489	68	1	each	each	DET
fsr-3489	68	2	stock	stock	NOUN
fsr-3489	68	3	in	in	ADP
fsr-3489	68	4	the	the	DET
fsr-3489	68	5	s&p	s&p	PROPN
fsr-3489	68	6	500	500	NUM
fsr-3489	68	7	is	be	AUX
fsr-3489	68	8	allocated	allocate	VERB
fsr-3489	68	9	to	to	ADP
fsr-3489	68	10	one	one	NUM
fsr-3489	68	11	and	and	CCONJ
fsr-3489	68	12	only	only	ADV
fsr-3489	68	13	one	one	NUM
fsr-3489	68	14	select	select	ADJ
fsr-3489	68	15	sector	sector	NOUN
fsr-3489	68	16	index	index	NOUN
fsr-3489	68	17	.	.	PUNCT
fsr-3489	69	1	the	the	DET
fsr-3489	69	2	combined	combined	ADJ
fsr-3489	69	3	companies	company	NOUN
fsr-3489	69	4	of	of	ADP
fsr-3489	69	5	the	the	DET
fsr-3489	69	6	nine	nine	NUM
fsr-3489	69	7	select	select	ADJ
fsr-3489	69	8	sector	sector	NOUN
fsr-3489	69	9	indexes	index	NOUN
fsr-3489	69	10	represent	represent	VERB
fsr-3489	69	11	all	all	PRON
fsr-3489	69	12	of	of	ADP
fsr-3489	69	13	the	the	DET
fsr-3489	69	14	companies	company	NOUN
fsr-3489	69	15	in	in	ADP
fsr-3489	69	16	the	the	DET
fsr-3489	69	17	s&p	s&p	PROPN
fsr-3489	69	18	500	500	NUM
fsr-3489	69	19	.	.	PUNCT
fsr-3489	70	1	that	that	PRON
fsr-3489	70	2	is	is	ADV
fsr-3489	70	3	,	,	PUNCT
fsr-3489	70	4	the	the	DET
fsr-3489	70	5	select	select	ADJ
fsr-3489	70	6	sector	sector	NOUN
fsr-3489	70	7	spdr	spdr	NOUN
fsr-3489	70	8	funds	fund	NOUN
fsr-3489	70	9	unbundle	unbundle	VERB
fsr-3489	70	10	the	the	DET
fsr-3489	70	11	s&p	s&p	PROPN
fsr-3489	70	12	500.6	500.6	NUM
fsr-3489	70	13	these	these	DET
fsr-3489	70	14	passively	passively	ADV
fsr-3489	70	15	managed	manage	VERB
fsr-3489	70	16	sector	sector	NOUN
fsr-3489	70	17	funds	fund	NOUN
fsr-3489	70	18	use	use	VERB
fsr-3489	70	19	a	a	DET
fsr-3489	70	20	replication	replication	NOUN
fsr-3489	70	21	strategy	strategy	NOUN
fsr-3489	70	22	,	,	PUNCT
fsr-3489	70	23	attempting	attempt	VERB
fsr-3489	70	24	to	to	PART
fsr-3489	70	25	track	track	VERB
fsr-3489	70	26	the	the	DET
fsr-3489	70	27	performance	performance	NOUN
fsr-3489	70	28	of	of	ADP
fsr-3489	70	29	an	an	DET
fsr-3489	70	30	unmanaged	unmanaged	ADJ
fsr-3489	70	31	index	index	NOUN
fsr-3489	70	32	of	of	ADP
fsr-3489	70	33	securities	security	NOUN
fsr-3489	70	34	.	.	PUNCT
fsr-3489	71	1	according	accord	VERB
fsr-3489	71	2	to	to	ADP
fsr-3489	71	3	select	select	VERB
fsr-3489	71	4	sector	sector	NOUN
fsr-3489	71	5	spdr	spdr	NOUN
fsr-3489	71	6	fund	fund	PROPN
fsr-3489	71	7	annual	annual	ADJ
fsr-3489	71	8	report	report	NOUN
fsr-3489	71	9	,	,	PUNCT
fsr-3489	71	10	the	the	DET
fsr-3489	71	11	ratio	ratio	NOUN
fsr-3489	71	12	of	of	ADP
fsr-3489	71	13	expenses	expense	NOUN
fsr-3489	71	14	to	to	PART
fsr-3489	71	15	average	average	VERB
fsr-3489	71	16	net	net	ADJ
fsr-3489	71	17	assets	asset	NOUN
fsr-3489	71	18	is	be	AUX
fsr-3489	71	19	0.19	0.19	NUM
fsr-3489	71	20	%	%	NOUN
fsr-3489	71	21	for	for	ADP
fsr-3489	71	22	each	each	DET
fsr-3489	71	23	individual	individual	ADJ
fsr-3489	71	24	fund	fund	NOUN
fsr-3489	71	25	as	as	ADP
fsr-3489	71	26	of	of	ADP
fsr-3489	71	27	september	september	PROPN
fsr-3489	71	28	30	30	NUM
fsr-3489	71	29	,	,	PUNCT
fsr-3489	71	30	2011	2011	NUM
fsr-3489	71	31	.	.	PUNCT
fsr-3489	72	1	the	the	DET
fsr-3489	72	2	turnover	turnover	NOUN
fsr-3489	72	3	rate	rate	NOUN
fsr-3489	72	4	is	be	AUX
fsr-3489	72	5	between	between	ADP
fsr-3489	72	6	3.20	3.20	NUM
fsr-3489	72	7	%	%	NOUN
fsr-3489	72	8	(	(	PUNCT
fsr-3489	72	9	utilities	utility	NOUN
fsr-3489	72	10	)	)	PUNCT
fsr-3489	72	11	and	and	CCONJ
fsr-3489	72	12	13.86	13.86	NUM
fsr-3489	72	13	%	%	NOUN
fsr-3489	72	14	(	(	PUNCT
fsr-3489	72	15	materials	material	NOUN
fsr-3489	72	16	)	)	PUNCT
fsr-3489	72	17	.	.	PUNCT
fsr-3489	73	1	the	the	DET
fsr-3489	73	2	funds	fund	NOUN
fsr-3489	73	3	have	have	VERB
fsr-3489	73	4	net	net	ADJ
fsr-3489	73	5	assets	asset	NOUN
fsr-3489	73	6	between	between	ADP
fsr-3489	73	7	$	$	SYM
fsr-3489	73	8	1.64	1.64	NUM
fsr-3489	73	9	billion	billion	NUM
fsr-3489	73	10	(	(	PUNCT
fsr-3489	73	11	materials	material	NOUN
fsr-3489	73	12	)	)	PUNCT
fsr-3489	73	13	and	and	CCONJ
fsr-3489	73	14	$	$	SYM
fsr-3489	73	15	6.64	6.64	NUM
fsr-3489	73	16	billion	billion	NUM
fsr-3489	73	17	(	(	PUNCT
fsr-3489	73	18	utilities).7	utilities).7	PROPN
fsr-3489	73	19	2.3	2.3	NUM
fsr-3489	73	20	.	.	PUNCT
fsr-3489	74	1	spdr	spdr	PROPN
fsr-3489	74	2	s&p	s&p	PROPN
fsr-3489	74	3	500	500	NUM
fsr-3489	74	4	etf	etf	NOUN
fsr-3489	74	5	the	the	DET
fsr-3489	74	6	spdr	spdr	NOUN
fsr-3489	74	7	s&p	s&p	PROPN
fsr-3489	74	8	500	500	NUM
fsr-3489	74	9	etf	etf	NOUN
fsr-3489	74	10	(	(	PUNCT
fsr-3489	74	11	spy	spy	NOUN
fsr-3489	74	12	)	)	PUNCT
fsr-3489	74	13	is	be	AUX
fsr-3489	74	14	an	an	DET
fsr-3489	74	15	exchange	exchange	NOUN
fsr-3489	74	16	traded	trade	VERB
fsr-3489	74	17	fund	fund	NOUN
fsr-3489	74	18	designed	design	VERB
fsr-3489	74	19	to	to	PART
fsr-3489	74	20	generally	generally	ADV
fsr-3489	74	21	correspond	correspond	VERB
fsr-3489	74	22	to	to	ADP
fsr-3489	74	23	the	the	DET
fsr-3489	74	24	price	price	NOUN
fsr-3489	74	25	and	and	CCONJ
fsr-3489	74	26	yield	yield	VERB
fsr-3489	74	27	performance	performance	NOUN
fsr-3489	74	28	of	of	ADP
fsr-3489	74	29	the	the	DET
fsr-3489	74	30	s&p	s&p	PROPN
fsr-3489	74	31	500	500	NUM
fsr-3489	74	32	index	index	NOUN
fsr-3489	74	33	.	.	PUNCT
fsr-3489	75	1	utilizing	utilize	VERB
fsr-3489	75	2	a	a	DET
fsr-3489	75	3	full	full	ADJ
fsr-3489	75	4	replication	replication	NOUN
fsr-3489	75	5	approach	approach	NOUN
fsr-3489	75	6	,	,	PUNCT
fsr-3489	75	7	the	the	DET
fsr-3489	75	8	trust	trust	NOUN
fsr-3489	75	9	owns	own	VERB
fsr-3489	75	10	all	all	DET
fsr-3489	75	11	500	500	NUM
fsr-3489	75	12	securities	security	NOUN
fsr-3489	75	13	of	of	ADP
fsr-3489	75	14	the	the	DET
fsr-3489	75	15	s&p	s&p	PROPN
fsr-3489	75	16	500	500	NUM
fsr-3489	75	17	index	index	NOUN
fsr-3489	75	18	in	in	ADP
fsr-3489	75	19	their	their	PRON
fsr-3489	75	20	approximate	approximate	ADJ
fsr-3489	75	21	market	market	NOUN
fsr-3489	75	22	capitalization	capitalization	NOUN
fsr-3489	75	23	weight	weight	NOUN
fsr-3489	75	24	.	.	PUNCT
fsr-3489	76	1	the	the	DET
fsr-3489	76	2	fund	fund	NOUN
fsr-3489	76	3	was	be	AUX
fsr-3489	76	4	incepted	incepte	VERB
fsr-3489	76	5	on	on	ADP
fsr-3489	76	6	january	january	PROPN
fsr-3489	76	7	22	22	NUM
fsr-3489	76	8	,	,	PUNCT
fsr-3489	76	9	1993	1993	NUM
fsr-3489	76	10	.	.	PUNCT
fsr-3489	77	1	the	the	DET
fsr-3489	77	2	portfolio	portfolio	NOUN
fsr-3489	77	3	has	have	VERB
fsr-3489	77	4	an	an	DET
fsr-3489	77	5	expense	expense	NOUN
fsr-3489	77	6	ratio	ratio	NOUN
fsr-3489	77	7	of	of	ADP
fsr-3489	77	8	0.09	0.09	NUM
fsr-3489	77	9	%	%	NOUN
fsr-3489	77	10	,	,	PUNCT
fsr-3489	77	11	a	a	DET
fsr-3489	77	12	turnover	turnover	NOUN
fsr-3489	77	13	rate	rate	NOUN
fsr-3489	77	14	of	of	ADP
fsr-3489	77	15	3.72	3.72	NUM
fsr-3489	77	16	%	%	NOUN
fsr-3489	77	17	,	,	PUNCT
fsr-3489	77	18	and	and	CCONJ
fsr-3489	77	19	$	$	SYM
fsr-3489	77	20	80.87	80.87	NUM
fsr-3489	77	21	billion	billion	NUM
fsr-3489	77	22	net	net	ADJ
fsr-3489	77	23	assets	asset	NOUN
fsr-3489	77	24	as	as	ADP
fsr-3489	77	25	of	of	ADP
fsr-3489	77	26	september	september	PROPN
fsr-3489	77	27	30	30	NUM
fsr-3489	77	28	,	,	PUNCT
fsr-3489	77	29	2011.8	2011.8	NUM
fsr-3489	77	30	both	both	DET
fsr-3489	77	31	equity	equity	NOUN
fsr-3489	77	32	mutual	mutual	ADJ
fsr-3489	77	33	funds	fund	NOUN
fsr-3489	77	34	and	and	CCONJ
fsr-3489	77	35	etfs	etfs	NOUN
fsr-3489	77	36	are	be	AUX
fsr-3489	77	37	pooled	pool	VERB
fsr-3489	77	38	investments	investment	NOUN
fsr-3489	77	39	that	that	PRON
fsr-3489	77	40	represent	represent	VERB
fsr-3489	77	41	ownership	ownership	NOUN
fsr-3489	77	42	in	in	ADP
fsr-3489	77	43	a	a	DET
fsr-3489	77	44	basket	basket	NOUN
fsr-3489	77	45	of	of	ADP
fsr-3489	77	46	stocks	stock	NOUN
fsr-3489	77	47	.	.	PUNCT
fsr-3489	78	1	however	however	ADV
fsr-3489	78	2	,	,	PUNCT
fsr-3489	78	3	etfs	etfs	PROPN
fsr-3489	78	4	can	can	AUX
fsr-3489	78	5	be	be	AUX
fsr-3489	78	6	traded	trade	VERB
fsr-3489	78	7	like	like	ADP
fsr-3489	78	8	individual	individual	ADJ
fsr-3489	78	9	stocks	stock	NOUN
fsr-3489	78	10	.	.	PUNCT
fsr-3489	79	1	they	they	PRON
fsr-3489	79	2	are	be	AUX
fsr-3489	79	3	also	also	ADV
fsr-3489	79	4	shortable	shortable	ADJ
fsr-3489	79	5	,	,	PUNCT
fsr-3489	79	6	marginable	marginable	ADJ
fsr-3489	79	7	,	,	PUNCT
fsr-3489	79	8	and	and	CCONJ
fsr-3489	79	9	optionable	optionable	ADJ
fsr-3489	79	10	.	.	PUNCT
fsr-3489	80	1	index	index	NOUN
fsr-3489	80	2	etfs	etfs	PROPN
fsr-3489	80	3	normally	normally	ADV
fsr-3489	80	4	have	have	VERB
fsr-3489	80	5	lower	low	ADJ
fsr-3489	80	6	fees	fee	NOUN
fsr-3489	80	7	by	by	ADP
fsr-3489	80	8	eliminating	eliminate	VERB
fsr-3489	80	9	many	many	ADJ
fsr-3489	80	10	of	of	ADP
fsr-3489	80	11	the	the	DET
fsr-3489	80	12	operating	operating	NOUN
fsr-3489	80	13	,	,	PUNCT
fsr-3489	80	14	research	research	NOUN
fsr-3489	80	15	,	,	PUNCT
fsr-3489	80	16	and	and	CCONJ
fsr-3489	80	17	transaction	transaction	NOUN
fsr-3489	80	18	expenses	expense	NOUN
fsr-3489	80	19	incurred	incur	VERB
fsr-3489	80	20	by	by	ADP
fsr-3489	80	21	active	active	ADJ
fsr-3489	80	22	money	money	NOUN
fsr-3489	80	23	managers	manager	NOUN
fsr-3489	80	24	.	.	PUNCT
fsr-3489	81	1	they	they	PRON
fsr-3489	81	2	also	also	ADV
fsr-3489	81	3	provide	provide	VERB
fsr-3489	81	4	greater	great	ADJ
fsr-3489	81	5	transparency	transparency	NOUN
fsr-3489	81	6	:	:	PUNCT
fsr-3489	81	7	one	one	PRON
fsr-3489	81	8	can	can	AUX
fsr-3489	81	9	get	get	VERB
fsr-3489	81	10	a	a	DET
fsr-3489	81	11	holding	holding	NOUN
fsr-3489	81	12	list	list	NOUN
fsr-3489	81	13	more	more	ADV
fsr-3489	81	14	frequently	frequently	ADV
fsr-3489	81	15	than	than	ADP
fsr-3489	81	16	with	with	ADP
fsr-3489	81	17	mutual	mutual	ADJ
fsr-3489	81	18	funds	fund	NOUN
fsr-3489	81	19	.	.	PUNCT
fsr-3489	82	1	for	for	ADP
fsr-3489	82	2	example	example	NOUN
fsr-3489	82	3	,	,	PUNCT
fsr-3489	82	4	fidelity	fidelity	NOUN
fsr-3489	82	5	select	select	ADJ
fsr-3489	82	6	portfolios	portfolio	NOUN
fsr-3489	82	7	publish	publish	VERB
fsr-3489	82	8	monthly	monthly	ADJ
fsr-3489	82	9	holdings	holding	NOUN
fsr-3489	82	10	whereas	whereas	SCONJ
fsr-3489	82	11	the	the	DET
fsr-3489	82	12	select	select	ADJ
fsr-3489	82	13	sector	sector	NOUN
fsr-3489	82	14	spdrs	spdr	VERB
fsr-3489	82	15	update	update	VERB
fsr-3489	82	16	their	their	PRON
fsr-3489	82	17	online	online	ADJ
fsr-3489	82	18	information	information	NOUN
fsr-3489	82	19	daily	daily	ADV
fsr-3489	82	20	.	.	PUNCT
fsr-3489	83	1	3	3	X
fsr-3489	83	2	.	.	X
fsr-3489	83	3	a	a	DET
fsr-3489	83	4	first	first	ADJ
fsr-3489	83	5	look	look	NOUN
fsr-3489	83	6	at	at	ADP
fsr-3489	83	7	equity	equity	NOUN
fsr-3489	83	8	sector	sector	NOUN
fsr-3489	83	9	funds	fund	NOUN
fsr-3489	83	10	:	:	PUNCT
fsr-3489	83	11	raw	raw	ADJ
fsr-3489	83	12	returns	return	NOUN
fsr-3489	83	13	my	my	PRON
fsr-3489	83	14	analysis	analysis	NOUN
fsr-3489	83	15	starts	start	VERB
fsr-3489	83	16	in	in	ADP
fsr-3489	83	17	january	january	PROPN
fsr-3489	83	18	1999	1999	NUM
fsr-3489	83	19	and	and	CCONJ
fsr-3489	83	20	ends	end	VERB
fsr-3489	83	21	in	in	ADP
fsr-3489	83	22	december	december	PROPN
fsr-3489	83	23	2010,9	2010,9	NUM
fsr-3489	83	24	since	since	SCONJ
fsr-3489	83	25	the	the	DET
fsr-3489	83	26	earliest	early	ADJ
fsr-3489	83	27	price	price	NOUN
fsr-3489	83	28	data	datum	NOUN
fsr-3489	83	29	available	available	ADJ
fsr-3489	83	30	for	for	ADP
fsr-3489	83	31	select	select	ADJ
fsr-3489	83	32	sector	sector	NOUN
fsr-3489	83	33	spdr	spdr	NOUN
fsr-3489	83	34	funds	fund	NOUN
fsr-3489	83	35	is	be	AUX
fsr-3489	83	36	mid	mid	NOUN
fsr-3489	83	37	-	-	PROPN
fsr-3489	83	38	december	december	PROPN
fsr-3489	83	39	1998	1998	NUM
fsr-3489	83	40	.	.	PUNCT
fsr-3489	84	1	i	i	PRON
fsr-3489	84	2	downloaded	download	VERB
fsr-3489	84	3	price	price	NOUN
fsr-3489	84	4	and	and	CCONJ
fsr-3489	84	5	dividend	dividend	NOUN
fsr-3489	84	6	data	datum	NOUN
fsr-3489	84	7	from	from	ADP
fsr-3489	84	8	yahoo!finance	yahoo!finance	NOUN
fsr-3489	84	9	web	web	NOUN
fsr-3489	84	10	site.10	site.10	NOUN
fsr-3489	84	11	monthly	monthly	ADJ
fsr-3489	84	12	,	,	PUNCT
fsr-3489	84	13	annual	annual	ADJ
fsr-3489	84	14	,	,	PUNCT
fsr-3489	84	15	and	and	CCONJ
fsr-3489	84	16	12	12	NUM
fsr-3489	84	17	-	-	PUNCT
fsr-3489	84	18	year	year	NOUN
fsr-3489	84	19	holding	holding	NOUN
fsr-3489	84	20	period	period	NOUN
fsr-3489	84	21	return	return	NOUN
fsr-3489	84	22	is	be	AUX
fsr-3489	84	23	calculated	calculate	VERB
fsr-3489	84	24	for	for	ADP
fsr-3489	84	25	each	each	DET
fsr-3489	84	26	fund	fund	NOUN
fsr-3489	84	27	as	as	ADP
fsr-3489	84	28	:	:	PUNCT
fsr-3489	84	29	ri	ri	PROPN
fsr-3489	84	30	,	,	PUNCT
fsr-3489	84	31	t	t	PROPN
fsr-3489	84	32	"	"	PUNCT
fsr-3489	84	33	pi	pi	PROPN
fsr-3489	84	34	,	,	PUNCT
fsr-3489	84	35	t	t	PROPN
fsr-3489	84	36	#	#	NOUN
fsr-3489	84	37	di	di	NOUN
fsr-3489	84	38	,	,	PUNCT
fsr-3489	84	39	t	t	PROPN
fsr-3489	84	40	pi	pi	NOUN
fsr-3489	84	41	,	,	PUNCT
fsr-3489	84	42	t"1	t"1	ADJ
fsr-3489	84	43	$	$	SYM
fsr-3489	84	44	1	1	NUM
fsr-3489	84	45	,	,	PUNCT
fsr-3489	84	46	(	(	PUNCT
fsr-3489	84	47	1	1	X
fsr-3489	84	48	)	)	PUNCT
fsr-3489	84	49	where	where	SCONJ
fsr-3489	84	50	ri	ri	PROPN
fsr-3489	84	51	,	,	PUNCT
fsr-3489	84	52	t	t	PROPN
fsr-3489	84	53	is	be	AUX
fsr-3489	84	54	the	the	DET
fsr-3489	84	55	return	return	NOUN
fsr-3489	84	56	for	for	ADP
fsr-3489	84	57	fund	fund	NOUN
fsr-3489	84	58	i	i	PRON
fsr-3489	84	59	during	during	ADP
fsr-3489	84	60	period	period	NOUN
fsr-3489	84	61	t	t	PROPN
fsr-3489	84	62	,	,	PUNCT
fsr-3489	84	63	pi	pi	PROPN
fsr-3489	84	64	,	,	PUNCT
fsr-3489	84	65	t	t	PROPN
fsr-3489	84	66	is	be	AUX
fsr-3489	84	67	the	the	DET
fsr-3489	84	68	price	price	NOUN
fsr-3489	84	69	for	for	ADP
fsr-3489	84	70	fund	fund	NOUN
fsr-3489	84	71	i	i	PRON
fsr-3489	84	72	at	at	ADP
fsr-3489	84	73	the	the	DET
fsr-3489	84	74	end	end	NOUN
fsr-3489	84	75	of	of	ADP
fsr-3489	84	76	period	period	NOUN
fsr-3489	84	77	t	t	PROPN
fsr-3489	84	78	,	,	PUNCT
fsr-3489	84	79	pi	pi	NOUN
fsr-3489	84	80	,	,	PUNCT
fsr-3489	84	81	t"1	t"1	NUM
fsr-3489	84	82	is	be	AUX
fsr-3489	84	83	the	the	DET
fsr-3489	84	84	price	price	NOUN
fsr-3489	84	85	for	for	ADP
fsr-3489	84	86	fund	fund	NOUN
fsr-3489	84	87	i	i	PRON
fsr-3489	84	88	at	at	ADP
fsr-3489	84	89	the	the	DET
fsr-3489	84	90	end	end	NOUN
fsr-3489	84	91	of	of	ADP
fsr-3489	84	92	period	period	NOUN
fsr-3489	84	93	t	t	PROPN
fsr-3489	84	94	"	"	PUNCT
fsr-3489	84	95	1	1	NUM
fsr-3489	84	96	,	,	PUNCT
fsr-3489	84	97	and	and	CCONJ
fsr-3489	84	98	di	di	NOUN
fsr-3489	84	99	,	,	PUNCT
fsr-3489	84	100	t	t	PROPN
fsr-3489	84	101	is	be	AUX
fsr-3489	84	102	the	the	DET
fsr-3489	84	103	total	total	ADJ
fsr-3489	84	104	dividend	dividend	NOUN
fsr-3489	84	105	/	/	SYM
fsr-3489	84	106	cash	cash	NOUN
fsr-3489	84	107	distribution	distribution	NOUN
fsr-3489	84	108	of	of	ADP
fsr-3489	84	109	fund	fund	NOUN
fsr-3489	84	110	i	i	PRON
fsr-3489	84	111	during	during	ADP
fsr-3489	84	112	period	period	NOUN
fsr-3489	84	113	t.	t.	NOUN
fsr-3489	84	114	252	252	NUM
fsr-3489	85	1	c.y	c.y	PROPN
fsr-3489	85	2	.	.	PROPN
fsr-3489	85	3	lin	lin	PROPN
fsr-3489	85	4	/	/	SYM
fsr-3489	85	5	financial	financial	ADJ
fsr-3489	85	6	services	service	NOUN
fsr-3489	85	7	review	review	VERB
fsr-3489	85	8	23	23	NUM
fsr-3489	85	9	(	(	PUNCT
fsr-3489	85	10	2014	2014	NUM
fsr-3489	85	11	)	)	PUNCT
fsr-3489	86	1	249–271	249–271	NUM
fsr-3489	86	2	the	the	DET
fsr-3489	86	3	purpose	purpose	NOUN
fsr-3489	86	4	of	of	ADP
fsr-3489	86	5	this	this	DET
fsr-3489	86	6	study	study	NOUN
fsr-3489	86	7	is	be	AUX
fsr-3489	86	8	to	to	PART
fsr-3489	86	9	assist	assist	VERB
fsr-3489	86	10	investors	investor	NOUN
fsr-3489	86	11	implement	implement	VERB
fsr-3489	86	12	asset	asset	NOUN
fsr-3489	86	13	allocations	allocation	NOUN
fsr-3489	86	14	at	at	ADP
fsr-3489	86	15	the	the	DET
fsr-3489	86	16	sector	sector	NOUN
fsr-3489	86	17	level	level	NOUN
fsr-3489	86	18	,	,	PUNCT
fsr-3489	86	19	therefore	therefore	ADV
fsr-3489	86	20	,	,	PUNCT
fsr-3489	86	21	i	i	PRON
fsr-3489	86	22	use	use	VERB
fsr-3489	86	23	fund	fund	NOUN
fsr-3489	86	24	price	price	NOUN
fsr-3489	86	25	instead	instead	ADV
fsr-3489	86	26	of	of	ADP
fsr-3489	86	27	fund	fund	NOUN
fsr-3489	86	28	net	net	ADJ
fsr-3489	86	29	asset	asset	NOUN
fsr-3489	86	30	value	value	NOUN
fsr-3489	86	31	to	to	PART
fsr-3489	86	32	calculate	calculate	VERB
fsr-3489	86	33	fund	fund	NOUN
fsr-3489	86	34	return	return	NOUN
fsr-3489	86	35	.	.	PUNCT
fsr-3489	87	1	this	this	DET
fsr-3489	87	2	return	return	NOUN
fsr-3489	87	3	is	be	AUX
fsr-3489	87	4	net	net	NOUN
fsr-3489	87	5	of	of	ADP
fsr-3489	87	6	expenses	expense	NOUN
fsr-3489	87	7	and	and	CCONJ
fsr-3489	87	8	is	be	AUX
fsr-3489	87	9	attainable	attainable	ADJ
fsr-3489	87	10	.	.	PUNCT
fsr-3489	88	1	as	as	SCONJ
fsr-3489	88	2	argued	argue	VERB
fsr-3489	88	3	by	by	ADP
fsr-3489	88	4	jones	jones	PROPN
fsr-3489	88	5	and	and	CCONJ
fsr-3489	88	6	wermers	wermer	NOUN
fsr-3489	88	7	(	(	PUNCT
fsr-3489	88	8	2011	2011	NUM
fsr-3489	88	9	)	)	PUNCT
fsr-3489	88	10	,	,	PUNCT
fsr-3489	88	11	i	i	PRON
fsr-3489	88	12	compare	compare	VERB
fsr-3489	88	13	actively	actively	ADV
fsr-3489	88	14	managed	manage	VERB
fsr-3489	88	15	sector	sector	NOUN
fsr-3489	88	16	mutual	mutual	ADJ
fsr-3489	88	17	fund	fund	NOUN
fsr-3489	88	18	performance	performance	NOUN
fsr-3489	88	19	to	to	ADP
fsr-3489	88	20	their	their	PRON
fsr-3489	88	21	passive	passive	ADJ
fsr-3489	88	22	alternative	alternative	NOUN
fsr-3489	88	23	and	and	CCONJ
fsr-3489	88	24	not	not	PART
fsr-3489	88	25	to	to	ADP
fsr-3489	88	26	the	the	DET
fsr-3489	88	27	index	index	NOUN
fsr-3489	88	28	itself	itself	PRON
fsr-3489	88	29	.	.	PUNCT
fsr-3489	89	1	for	for	ADP
fsr-3489	89	2	the	the	DET
fsr-3489	89	3	same	same	ADJ
fsr-3489	89	4	reason	reason	NOUN
fsr-3489	89	5	,	,	PUNCT
fsr-3489	89	6	i	i	PRON
fsr-3489	89	7	use	use	VERB
fsr-3489	89	8	spy	spy	NOUN
fsr-3489	89	9	as	as	ADP
fsr-3489	89	10	an	an	DET
fsr-3489	89	11	investable	investable	ADJ
fsr-3489	89	12	broad	broad	ADJ
fsr-3489	89	13	u.s	u.s	PROPN
fsr-3489	89	14	.	.	PROPN
fsr-3489	89	15	equity	equity	NOUN
fsr-3489	89	16	market	market	NOUN
fsr-3489	89	17	benchmark	benchmark	NOUN
fsr-3489	89	18	.	.	PUNCT
fsr-3489	90	1	3.1	3.1	NUM
fsr-3489	90	2	.	.	NOUN
fsr-3489	90	3	twelve	twelve	NUM
fsr-3489	90	4	-	-	PUNCT
fsr-3489	90	5	year	year	NOUN
fsr-3489	90	6	return	return	NOUN
fsr-3489	90	7	which	which	DET
fsr-3489	90	8	group	group	NOUN
fsr-3489	90	9	of	of	ADP
fsr-3489	90	10	funds	fund	NOUN
fsr-3489	90	11	generates	generate	VERB
fsr-3489	90	12	higher	high	ADJ
fsr-3489	90	13	returns	return	NOUN
fsr-3489	90	14	during	during	ADP
fsr-3489	90	15	the	the	DET
fsr-3489	90	16	sample	sample	NOUN
fsr-3489	90	17	period	period	NOUN
fsr-3489	90	18	?	?	PUNCT
fsr-3489	91	1	the	the	DET
fsr-3489	91	2	results	result	NOUN
fsr-3489	91	3	are	be	AUX
fsr-3489	91	4	summarized	summarize	VERB
fsr-3489	91	5	in	in	ADP
fsr-3489	91	6	table	table	NOUN
fsr-3489	91	7	1	1	NUM
fsr-3489	91	8	.	.	PUNCT
fsr-3489	92	1	in	in	ADP
fsr-3489	92	2	the	the	DET
fsr-3489	92	3	rest	rest	NOUN
fsr-3489	92	4	of	of	ADP
fsr-3489	92	5	the	the	DET
fsr-3489	92	6	article	article	NOUN
fsr-3489	92	7	,	,	PUNCT
fsr-3489	92	8	i	i	PRON
fsr-3489	92	9	use	use	VERB
fsr-3489	92	10	mf	mf	NOUN
fsr-3489	92	11	to	to	PART
fsr-3489	92	12	represent	represent	VERB
fsr-3489	92	13	fidelity	fidelity	NOUN
fsr-3489	92	14	select	select	ADJ
fsr-3489	92	15	portfolios	portfolio	NOUN
fsr-3489	92	16	,	,	PUNCT
fsr-3489	92	17	etf	etf	NOUN
fsr-3489	92	18	to	to	PART
fsr-3489	92	19	represent	represent	VERB
fsr-3489	92	20	select	select	ADJ
fsr-3489	92	21	sector	sector	NOUN
fsr-3489	92	22	spdr	spdr	NOUN
fsr-3489	92	23	funds	fund	NOUN
fsr-3489	92	24	,	,	PUNCT
fsr-3489	92	25	and	and	CCONJ
fsr-3489	92	26	spy	spy	NOUN
fsr-3489	92	27	to	to	PART
fsr-3489	92	28	represent	represent	VERB
fsr-3489	92	29	the	the	DET
fsr-3489	92	30	spdr	spdr	NOUN
fsr-3489	92	31	s&p	s&p	PROPN
fsr-3489	92	32	500	500	NUM
fsr-3489	92	33	etf	etf	NOUN
fsr-3489	92	34	for	for	ADP
fsr-3489	92	35	easier	easy	ADJ
fsr-3489	92	36	reference	reference	NOUN
fsr-3489	92	37	.	.	PUNCT
fsr-3489	93	1	panel	panel	NOUN
fsr-3489	93	2	a	a	DET
fsr-3489	93	3	of	of	ADP
fsr-3489	93	4	table	table	NOUN
fsr-3489	93	5	1	1	NUM
fsr-3489	93	6	lists	list	VERB
fsr-3489	93	7	the	the	DET
fsr-3489	93	8	12	12	NUM
fsr-3489	93	9	-	-	PUNCT
fsr-3489	93	10	year	year	NOUN
fsr-3489	93	11	(	(	PUNCT
fsr-3489	93	12	1999–2010	1999–2010	NUM
fsr-3489	93	13	)	)	PUNCT
fsr-3489	93	14	holding	hold	VERB
fsr-3489	93	15	period	period	NOUN
fsr-3489	93	16	return	return	NOUN
fsr-3489	93	17	for	for	ADP
fsr-3489	93	18	the	the	DET
fsr-3489	93	19	19	19	NUM
fsr-3489	93	20	funds	fund	NOUN
fsr-3489	93	21	.	.	PUNCT
fsr-3489	94	1	the	the	DET
fsr-3489	94	2	highest	high	ADJ
fsr-3489	94	3	return	return	NOUN
fsr-3489	94	4	is	be	AUX
fsr-3489	94	5	295.2	295.2	NUM
fsr-3489	94	6	%	%	NOUN
fsr-3489	94	7	for	for	ADP
fsr-3489	94	8	the	the	DET
fsr-3489	94	9	energy	energy	NOUN
fsr-3489	94	10	mf	mf	NOUN
fsr-3489	94	11	and	and	CCONJ
fsr-3489	94	12	the	the	DET
fsr-3489	94	13	lowest	low	ADJ
fsr-3489	94	14	return	return	NOUN
fsr-3489	94	15	is	be	AUX
fsr-3489	94	16	"	"	PUNCT
fsr-3489	94	17	17.4	17.4	NUM
fsr-3489	94	18	%	%	NOUN
fsr-3489	94	19	for	for	ADP
fsr-3489	94	20	the	the	DET
fsr-3489	94	21	technology	technology	NOUN
fsr-3489	94	22	etf	etf	NOUN
fsr-3489	94	23	,	,	PUNCT
fsr-3489	94	24	and	and	CCONJ
fsr-3489	94	25	the	the	DET
fsr-3489	94	26	return	return	NOUN
fsr-3489	94	27	for	for	ADP
fsr-3489	94	28	spy	spy	NOUN
fsr-3489	94	29	is	be	AUX
fsr-3489	94	30	20.8	20.8	NUM
fsr-3489	94	31	%	%	NOUN
fsr-3489	94	32	.	.	PUNCT
fsr-3489	95	1	seven	seven	NUM
fsr-3489	95	2	of	of	ADP
fsr-3489	95	3	nine	nine	NUM
fsr-3489	95	4	mfs	mfs	PROPN
fsr-3489	95	5	,	,	PUNCT
fsr-3489	95	6	except	except	SCONJ
fsr-3489	95	7	for	for	ADP
fsr-3489	95	8	the	the	DET
fsr-3489	95	9	utilities	utility	NOUN
fsr-3489	95	10	and	and	CCONJ
fsr-3489	95	11	consumer	consumer	NOUN
fsr-3489	95	12	discretionary	discretionary	ADJ
fsr-3489	95	13	mf	mf	NOUN
fsr-3489	95	14	,	,	PUNCT
fsr-3489	95	15	have	have	VERB
fsr-3489	95	16	a	a	DET
fsr-3489	95	17	higher	high	ADJ
fsr-3489	95	18	return	return	NOUN
fsr-3489	95	19	than	than	ADP
fsr-3489	95	20	that	that	PRON
fsr-3489	95	21	of	of	ADP
fsr-3489	95	22	their	their	PRON
fsr-3489	95	23	etf	etf	NOUN
fsr-3489	95	24	counterparties	counterpartie	NOUN
fsr-3489	95	25	;	;	PUNCT
fsr-3489	95	26	the	the	DET
fsr-3489	95	27	average	average	ADJ
fsr-3489	95	28	outperformance	outperformance	NOUN
fsr-3489	95	29	is	be	AUX
fsr-3489	95	30	51.2	51.2	NUM
fsr-3489	95	31	%	%	NOUN
fsr-3489	95	32	.	.	PUNCT
fsr-3489	96	1	when	when	SCONJ
fsr-3489	96	2	spy	spy	NOUN
fsr-3489	96	3	is	be	AUX
fsr-3489	96	4	used	use	VERB
fsr-3489	96	5	as	as	ADP
fsr-3489	96	6	the	the	DET
fsr-3489	96	7	benchmark	benchmark	NOUN
fsr-3489	96	8	,	,	PUNCT
fsr-3489	96	9	eight	eight	NUM
fsr-3489	96	10	out	out	ADP
fsr-3489	96	11	of	of	ADP
fsr-3489	96	12	nine	nine	NUM
fsr-3489	96	13	mfs	mfs	NOUN
fsr-3489	96	14	(	(	PUNCT
fsr-3489	96	15	except	except	SCONJ
fsr-3489	96	16	utilities	utility	NOUN
fsr-3489	96	17	)	)	PUNCT
fsr-3489	96	18	and	and	CCONJ
fsr-3489	96	19	seven	seven	NUM
fsr-3489	96	20	out	out	ADP
fsr-3489	96	21	of	of	ADP
fsr-3489	96	22	nine	nine	NUM
fsr-3489	96	23	etfs	etfs	NOUN
fsr-3489	96	24	(	(	PUNCT
fsr-3489	96	25	except	except	SCONJ
fsr-3489	96	26	financial	financial	ADJ
fsr-3489	96	27	and	and	CCONJ
fsr-3489	96	28	technology	technology	NOUN
fsr-3489	96	29	)	)	PUNCT
fsr-3489	96	30	outperform	outperform	NOUN
fsr-3489	96	31	.	.	PUNCT
fsr-3489	97	1	the	the	DET
fsr-3489	97	2	average	average	ADJ
fsr-3489	97	3	mf	mf	NOUN
fsr-3489	97	4	holding	hold	VERB
fsr-3489	97	5	period	period	NOUN
fsr-3489	97	6	return	return	NOUN
fsr-3489	97	7	across	across	ADP
fsr-3489	97	8	all	all	DET
fsr-3489	97	9	sectors	sector	NOUN
fsr-3489	97	10	is	be	AUX
fsr-3489	97	11	109.2	109.2	NUM
fsr-3489	97	12	%	%	NOUN
fsr-3489	97	13	versus	versus	ADP
fsr-3489	97	14	58.0	58.0	NUM
fsr-3489	97	15	%	%	NOUN
fsr-3489	97	16	for	for	ADP
fsr-3489	97	17	etfs	etfs	NOUN
fsr-3489	97	18	,	,	PUNCT
fsr-3489	97	19	and	and	CCONJ
fsr-3489	97	20	the	the	DET
fsr-3489	97	21	difference	difference	NOUN
fsr-3489	97	22	is	be	AUX
fsr-3489	97	23	significant	significant	ADJ
fsr-3489	97	24	at	at	ADP
fsr-3489	97	25	the	the	DET
fsr-3489	97	26	5	5	NUM
fsr-3489	97	27	%	%	NOUN
fsr-3489	97	28	level	level	NOUN
fsr-3489	97	29	using	use	VERB
fsr-3489	97	30	one	one	NUM
fsr-3489	97	31	-	-	PUNCT
fsr-3489	97	32	tailed	tail	VERB
fsr-3489	97	33	t	t	NOUN
fsr-3489	97	34	test	test	NOUN
fsr-3489	97	35	.	.	PUNCT
fsr-3489	98	1	results	result	NOUN
fsr-3489	98	2	are	be	AUX
fsr-3489	98	3	slightly	slightly	ADV
fsr-3489	98	4	different	different	ADJ
fsr-3489	98	5	when	when	SCONJ
fsr-3489	98	6	i	i	PRON
fsr-3489	98	7	compound	compound	VERB
fsr-3489	98	8	annual	annual	ADJ
fsr-3489	98	9	holding	hold	VERB
fsr-3489	98	10	period	period	NOUN
fsr-3489	98	11	returns	return	VERB
fsr-3489	98	12	through	through	ADP
fsr-3489	98	13	the	the	DET
fsr-3489	98	14	12	12	NUM
fsr-3489	98	15	years	year	NOUN
fsr-3489	98	16	.	.	PUNCT
fsr-3489	99	1	panel	panel	NOUN
fsr-3489	99	2	b	b	PROPN
fsr-3489	99	3	of	of	ADP
fsr-3489	99	4	table	table	NOUN
fsr-3489	99	5	1	1	NUM
fsr-3489	99	6	shows	show	VERB
fsr-3489	99	7	that	that	SCONJ
fsr-3489	99	8	the	the	DET
fsr-3489	99	9	only	only	ADJ
fsr-3489	99	10	underperforming	underperform	VERB
fsr-3489	99	11	mf	mf	NOUN
fsr-3489	99	12	against	against	ADP
fsr-3489	99	13	spy	spy	NOUN
fsr-3489	99	14	is	be	AUX
fsr-3489	99	15	financial	financial	ADJ
fsr-3489	99	16	,	,	PUNCT
fsr-3489	99	17	not	not	PART
fsr-3489	99	18	utilities	utility	NOUN
fsr-3489	99	19	.	.	PUNCT
fsr-3489	100	1	the	the	DET
fsr-3489	100	2	same	same	ADJ
fsr-3489	100	3	seven	seven	NUM
fsr-3489	100	4	mfs	mfs	NOUN
fsr-3489	100	5	beat	beat	NOUN
fsr-3489	100	6	peer	peer	NOUN
fsr-3489	100	7	etfs	etfs	NOUN
fsr-3489	100	8	with	with	ADP
fsr-3489	100	9	an	an	DET
fsr-3489	100	10	average	average	ADJ
fsr-3489	100	11	outperformance	outperformance	NOUN
fsr-3489	100	12	of	of	ADP
fsr-3489	100	13	63.3	63.3	NUM
fsr-3489	100	14	%	%	NOUN
fsr-3489	100	15	.	.	PUNCT
fsr-3489	101	1	the	the	DET
fsr-3489	101	2	average	average	ADJ
fsr-3489	101	3	mf	mf	VERB
fsr-3489	101	4	12	12	NUM
fsr-3489	101	5	-	-	PUNCT
fsr-3489	101	6	year	year	NOUN
fsr-3489	101	7	return	return	NOUN
fsr-3489	101	8	with	with	ADP
fsr-3489	101	9	annual	annual	ADJ
fsr-3489	101	10	compounding	compounding	NOUN
fsr-3489	101	11	across	across	ADP
fsr-3489	101	12	all	all	DET
fsr-3489	101	13	sectors	sector	NOUN
fsr-3489	101	14	is	be	AUX
fsr-3489	101	15	127.6	127.6	NUM
fsr-3489	101	16	%	%	NOUN
fsr-3489	101	17	versus	versus	ADP
fsr-3489	101	18	64.3	64.3	NUM
fsr-3489	101	19	%	%	NOUN
fsr-3489	101	20	for	for	ADP
fsr-3489	101	21	etfs	etfs	NOUN
fsr-3489	101	22	,	,	PUNCT
fsr-3489	101	23	and	and	CCONJ
fsr-3489	101	24	the	the	DET
fsr-3489	101	25	difference	difference	NOUN
fsr-3489	101	26	is	be	AUX
fsr-3489	101	27	also	also	ADV
fsr-3489	101	28	significant	significant	ADJ
fsr-3489	101	29	at	at	ADP
fsr-3489	101	30	the	the	DET
fsr-3489	101	31	5	5	NUM
fsr-3489	101	32	%	%	NOUN
fsr-3489	101	33	level	level	NOUN
fsr-3489	101	34	using	use	VERB
fsr-3489	101	35	one	one	NUM
fsr-3489	101	36	-	-	PUNCT
fsr-3489	101	37	tailed	tail	VERB
fsr-3489	101	38	t	t	NOUN
fsr-3489	101	39	test	test	NOUN
fsr-3489	101	40	.	.	PUNCT
fsr-3489	102	1	these	these	DET
fsr-3489	102	2	results	result	NOUN
fsr-3489	102	3	show	show	VERB
fsr-3489	102	4	that	that	SCONJ
fsr-3489	102	5	on	on	ADP
fsr-3489	102	6	average	average	ADJ
fsr-3489	102	7	sector	sector	NOUN
fsr-3489	102	8	mfs	mfs	VERB
fsr-3489	102	9	outperform	outperform	VERB
fsr-3489	102	10	their	their	PRON
fsr-3489	102	11	etf	etf	NOUN
fsr-3489	102	12	counterparties	counterpartie	NOUN
fsr-3489	102	13	for	for	ADP
fsr-3489	102	14	the	the	DET
fsr-3489	102	15	whole	whole	ADJ
fsr-3489	102	16	sample	sample	NOUN
fsr-3489	102	17	period	period	NOUN
fsr-3489	102	18	.	.	PUNCT
fsr-3489	103	1	none	none	NOUN
fsr-3489	103	2	of	of	ADP
fsr-3489	103	3	the	the	DET
fsr-3489	103	4	nine	nine	NUM
fsr-3489	103	5	mfs	mfs	NOUN
fsr-3489	103	6	suffers	suffer	VERB
fsr-3489	103	7	a	a	DET
fsr-3489	103	8	loss	loss	NOUN
fsr-3489	103	9	during	during	ADP
fsr-3489	103	10	the	the	DET
fsr-3489	103	11	sample	sample	NOUN
fsr-3489	103	12	period	period	NOUN
fsr-3489	103	13	;	;	PUNCT
fsr-3489	103	14	however	however	ADV
fsr-3489	103	15	,	,	PUNCT
fsr-3489	103	16	the	the	DET
fsr-3489	103	17	financial	financial	ADJ
fsr-3489	103	18	and	and	CCONJ
fsr-3489	103	19	technology	technology	NOUN
fsr-3489	103	20	etfs	etfs	PROPN
fsr-3489	103	21	generate	generate	VERB
fsr-3489	103	22	a	a	DET
fsr-3489	103	23	negative	negative	ADJ
fsr-3489	103	24	return	return	NOUN
fsr-3489	103	25	under	under	ADP
fsr-3489	103	26	both	both	DET
fsr-3489	103	27	calculation	calculation	NOUN
fsr-3489	103	28	methods	method	NOUN
fsr-3489	103	29	.	.	PUNCT
fsr-3489	104	1	the	the	DET
fsr-3489	104	2	tech	tech	NOUN
fsr-3489	104	3	bubble	bubble	NOUN
fsr-3489	104	4	in	in	ADP
fsr-3489	104	5	early	early	ADJ
fsr-3489	104	6	2000s	2000s	NUM
fsr-3489	104	7	and	and	CCONJ
fsr-3489	104	8	the	the	DET
fsr-3489	104	9	financial	financial	ADJ
fsr-3489	104	10	crisis	crisis	NOUN
fsr-3489	104	11	in	in	ADP
fsr-3489	104	12	2008	2008	NUM
fsr-3489	104	13	contribute	contribute	VERB
fsr-3489	104	14	to	to	ADP
fsr-3489	104	15	the	the	DET
fsr-3489	104	16	negative	negative	ADJ
fsr-3489	104	17	12	12	NUM
fsr-3489	104	18	-	-	PUNCT
fsr-3489	104	19	year	year	NOUN
fsr-3489	104	20	return	return	NOUN
fsr-3489	104	21	for	for	ADP
fsr-3489	104	22	these	these	DET
fsr-3489	104	23	two	two	NUM
fsr-3489	104	24	sectors	sector	NOUN
fsr-3489	104	25	.	.	PUNCT
fsr-3489	105	1	although	although	SCONJ
fsr-3489	105	2	sector	sector	NOUN
fsr-3489	105	3	etfs	etfs	PROPN
fsr-3489	105	4	mimicked	mimic	VERB
fsr-3489	105	5	their	their	PRON
fsr-3489	105	6	benchmark	benchmark	NOUN
fsr-3489	105	7	indexes	index	NOUN
fsr-3489	105	8	during	during	ADP
fsr-3489	105	9	these	these	DET
fsr-3489	105	10	bear	bear	NOUN
fsr-3489	105	11	markets	market	NOUN
fsr-3489	105	12	,	,	PUNCT
fsr-3489	105	13	it	it	PRON
fsr-3489	105	14	seems	seem	VERB
fsr-3489	105	15	sector	sector	NOUN
fsr-3489	105	16	mf	mf	NOUN
fsr-3489	105	17	managers	manager	NOUN
fsr-3489	105	18	made	make	VERB
fsr-3489	105	19	the	the	DET
fsr-3489	105	20	right	right	ADJ
fsr-3489	105	21	decisions	decision	NOUN
fsr-3489	105	22	against	against	ADP
fsr-3489	105	23	trend	trend	NOUN
fsr-3489	105	24	changes	change	NOUN
fsr-3489	105	25	.	.	PUNCT
fsr-3489	106	1	fig	fig	NOUN
fsr-3489	106	2	.	.	PUNCT
fsr-3489	107	1	1	1	NUM
fsr-3489	107	2	shows	show	VERB
fsr-3489	107	3	that	that	SCONJ
fsr-3489	107	4	the	the	DET
fsr-3489	107	5	annual	annual	ADJ
fsr-3489	107	6	return	return	NOUN
fsr-3489	107	7	for	for	ADP
fsr-3489	107	8	the	the	DET
fsr-3489	107	9	technology	technology	NOUN
fsr-3489	107	10	mf	mf	NOUN
fsr-3489	107	11	is	be	AUX
fsr-3489	107	12	119.07	119.07	NUM
fsr-3489	107	13	%	%	NOUN
fsr-3489	107	14	,	,	PUNCT
fsr-3489	107	15	"	"	PUNCT
fsr-3489	107	16	28.18	28.18	NUM
fsr-3489	107	17	%	%	NOUN
fsr-3489	107	18	,	,	PUNCT
fsr-3489	107	19	and	and	CCONJ
fsr-3489	107	20	"	"	PUNCT
fsr-3489	107	21	31.70	31.70	NUM
fsr-3489	107	22	%	%	NOUN
fsr-3489	107	23	for	for	ADP
fsr-3489	107	24	the	the	DET
fsr-3489	107	25	year	year	NOUN
fsr-3489	107	26	1999	1999	NUM
fsr-3489	107	27	,	,	PUNCT
fsr-3489	107	28	2000	2000	NUM
fsr-3489	107	29	,	,	PUNCT
fsr-3489	107	30	and	and	CCONJ
fsr-3489	107	31	2001	2001	NUM
fsr-3489	107	32	,	,	PUNCT
fsr-3489	107	33	whereas	whereas	SCONJ
fsr-3489	107	34	the	the	DET
fsr-3489	107	35	annual	annual	ADJ
fsr-3489	107	36	return	return	NOUN
fsr-3489	107	37	for	for	ADP
fsr-3489	107	38	its	its	PRON
fsr-3489	107	39	peer	peer	NOUN
fsr-3489	107	40	etf	etf	NOUN
fsr-3489	107	41	is	be	AUX
fsr-3489	107	42	65.13	65.13	NUM
fsr-3489	107	43	%	%	NOUN
fsr-3489	107	44	,	,	PUNCT
fsr-3489	107	45	"	"	PUNCT
fsr-3489	107	46	41.89	41.89	NUM
fsr-3489	107	47	%	%	NOUN
fsr-3489	107	48	,	,	PUNCT
fsr-3489	107	49	and	and	CCONJ
fsr-3489	107	50	"	"	PUNCT
fsr-3489	107	51	23.34	23.34	NUM
fsr-3489	107	52	%	%	NOUN
fsr-3489	107	53	,	,	PUNCT
fsr-3489	107	54	respectively	respectively	ADV
fsr-3489	107	55	.	.	PUNCT
fsr-3489	108	1	the	the	DET
fsr-3489	108	2	annual	annual	ADJ
fsr-3489	108	3	return	return	NOUN
fsr-3489	108	4	for	for	ADP
fsr-3489	108	5	the	the	DET
fsr-3489	108	6	financial	financial	ADJ
fsr-3489	108	7	mf	mf	NOUN
fsr-3489	108	8	is	be	AUX
fsr-3489	108	9	"	"	PUNCT
fsr-3489	108	10	13.42	13.42	NUM
fsr-3489	108	11	%	%	NOUN
fsr-3489	108	12	,	,	PUNCT
fsr-3489	108	13	"	"	PUNCT
fsr-3489	108	14	49.83	49.83	NUM
fsr-3489	108	15	%	%	NOUN
fsr-3489	108	16	,	,	PUNCT
fsr-3489	108	17	and	and	CCONJ
fsr-3489	108	18	23.71	23.71	NUM
fsr-3489	108	19	%	%	NOUN
fsr-3489	108	20	for	for	ADP
fsr-3489	108	21	the	the	DET
fsr-3489	108	22	year	year	NOUN
fsr-3489	108	23	2007	2007	NUM
fsr-3489	108	24	,	,	PUNCT
fsr-3489	108	25	2008	2008	NUM
fsr-3489	108	26	,	,	PUNCT
fsr-3489	108	27	and	and	CCONJ
fsr-3489	108	28	2009	2009	NUM
fsr-3489	108	29	,	,	PUNCT
fsr-3489	108	30	whereas	whereas	SCONJ
fsr-3489	108	31	the	the	DET
fsr-3489	108	32	annual	annual	ADJ
fsr-3489	108	33	return	return	NOUN
fsr-3489	108	34	for	for	ADP
fsr-3489	108	35	its	its	PRON
fsr-3489	108	36	peer	peer	NOUN
fsr-3489	108	37	etf	etf	NOUN
fsr-3489	108	38	is	be	AUX
fsr-3489	108	39	"	"	PUNCT
fsr-3489	108	40	18.89	18.89	NUM
fsr-3489	108	41	%	%	NOUN
fsr-3489	108	42	,	,	PUNCT
fsr-3489	108	43	"	"	PUNCT
fsr-3489	108	44	54.06	54.06	NUM
fsr-3489	108	45	%	%	NOUN
fsr-3489	108	46	,	,	PUNCT
fsr-3489	108	47	and	and	CCONJ
fsr-3489	108	48	16.98	16.98	NUM
fsr-3489	108	49	%	%	NOUN
fsr-3489	108	50	,	,	PUNCT
fsr-3489	108	51	respectively	respectively	ADV
fsr-3489	108	52	.	.	PUNCT
fsr-3489	109	1	3.2	3.2	NUM
fsr-3489	109	2	.	.	PUNCT
fsr-3489	110	1	average	average	ADJ
fsr-3489	110	2	annual	annual	ADJ
fsr-3489	110	3	return	return	NOUN
fsr-3489	110	4	seven	seven	NUM
fsr-3489	110	5	out	out	ADP
fsr-3489	110	6	of	of	ADP
fsr-3489	110	7	nine	nine	NUM
fsr-3489	110	8	mfs	mfs	NOUN
fsr-3489	110	9	(	(	PUNCT
fsr-3489	110	10	except	except	SCONJ
fsr-3489	110	11	for	for	ADP
fsr-3489	110	12	utilities	utility	NOUN
fsr-3489	110	13	and	and	CCONJ
fsr-3489	110	14	consumer	consumer	NOUN
fsr-3489	110	15	discretionary	discretionary	NOUN
fsr-3489	110	16	)	)	PUNCT
fsr-3489	110	17	outperform	outperform	VERB
fsr-3489	110	18	their	their	PRON
fsr-3489	110	19	peer	peer	NOUN
fsr-3489	110	20	etfs	etfs	NOUN
fsr-3489	110	21	when	when	SCONJ
fsr-3489	110	22	measured	measure	VERB
fsr-3489	110	23	with	with	ADP
fsr-3489	110	24	average	average	ADJ
fsr-3489	110	25	annual	annual	ADJ
fsr-3489	110	26	holding	hold	VERB
fsr-3489	110	27	period	period	NOUN
fsr-3489	110	28	return	return	NOUN
fsr-3489	110	29	depicted	depict	VERB
fsr-3489	110	30	in	in	ADP
fsr-3489	110	31	fig	fig	NOUN
fsr-3489	110	32	.	.	PUNCT
fsr-3489	111	1	2	2	X
fsr-3489	111	2	.	.	X
fsr-3489	111	3	an	an	DET
fsr-3489	111	4	interesting	interesting	ADJ
fsr-3489	111	5	finding	finding	NOUN
fsr-3489	111	6	in	in	ADP
fsr-3489	111	7	fig	fig	NOUN
fsr-3489	111	8	.	.	PUNCT
fsr-3489	112	1	2	2	NUM
fsr-3489	112	2	is	be	AUX
fsr-3489	112	3	that	that	SCONJ
fsr-3489	112	4	the	the	DET
fsr-3489	112	5	ranking	ranking	NOUN
fsr-3489	112	6	of	of	ADP
fsr-3489	112	7	performance	performance	NOUN
fsr-3489	112	8	is	be	AUX
fsr-3489	112	9	different	different	ADJ
fsr-3489	112	10	for	for	ADP
fsr-3489	112	11	mfs	mfs	NOUN
fsr-3489	112	12	and	and	CCONJ
fsr-3489	112	13	etfs	etfs	PROPN
fsr-3489	112	14	.	.	PUNCT
fsr-3489	113	1	energy	energy	NOUN
fsr-3489	113	2	mf	mf	X
fsr-3489	113	3	has	have	VERB
fsr-3489	113	4	the	the	DET
fsr-3489	113	5	highest	high	ADJ
fsr-3489	113	6	average	average	ADJ
fsr-3489	113	7	annual	annual	ADJ
fsr-3489	113	8	return	return	NOUN
fsr-3489	113	9	of	of	ADP
fsr-3489	113	10	18.3	18.3	NUM
fsr-3489	113	11	%	%	NOUN
fsr-3489	113	12	,	,	PUNCT
fsr-3489	113	13	followed	follow	VERB
fsr-3489	113	14	by	by	ADP
fsr-3489	113	15	materials	material	NOUN
fsr-3489	113	16	(	(	PUNCT
fsr-3489	113	17	17.0	17.0	NUM
fsr-3489	113	18	%	%	NOUN
fsr-3489	113	19	)	)	PUNCT
fsr-3489	113	20	,	,	PUNCT
fsr-3489	114	1	253c.y	253c.y	X
fsr-3489	114	2	.	.	PUNCT
fsr-3489	115	1	lin	lin	PROPN
fsr-3489	115	2	/	/	SYM
fsr-3489	115	3	financial	financial	ADJ
fsr-3489	115	4	services	service	NOUN
fsr-3489	115	5	review	review	VERB
fsr-3489	115	6	23	23	NUM
fsr-3489	115	7	(	(	PUNCT
fsr-3489	115	8	2014	2014	NUM
fsr-3489	115	9	)	)	PUNCT
fsr-3489	115	10	249–271	249–271	NUM
fsr-3489	115	11	technology	technology	NOUN
fsr-3489	115	12	(	(	PUNCT
fsr-3489	115	13	14.9	14.9	NUM
fsr-3489	115	14	%	%	NOUN
fsr-3489	115	15	)	)	PUNCT
fsr-3489	115	16	,	,	PUNCT
fsr-3489	115	17	industrials	industrial	NOUN
fsr-3489	115	18	(	(	PUNCT
fsr-3489	115	19	11.5	11.5	NUM
fsr-3489	115	20	%	%	NOUN
fsr-3489	115	21	)	)	PUNCT
fsr-3489	115	22	,	,	PUNCT
fsr-3489	115	23	consumer	consumer	NOUN
fsr-3489	115	24	staples	staple	NOUN
fsr-3489	115	25	(	(	PUNCT
fsr-3489	115	26	7.7	7.7	NUM
fsr-3489	115	27	%	%	NOUN
fsr-3489	115	28	)	)	PUNCT
fsr-3489	115	29	,	,	PUNCT
fsr-3489	115	30	healthcare	healthcare	NOUN
fsr-3489	115	31	(	(	PUNCT
fsr-3489	115	32	6.3	6.3	NUM
fsr-3489	115	33	%	%	NOUN
fsr-3489	115	34	)	)	PUNCT
fsr-3489	115	35	,	,	PUNCT
fsr-3489	115	36	utilities	utility	NOUN
fsr-3489	115	37	(	(	PUNCT
fsr-3489	115	38	4.7	4.7	NUM
fsr-3489	115	39	%	%	NOUN
fsr-3489	115	40	)	)	PUNCT
fsr-3489	115	41	,	,	PUNCT
fsr-3489	115	42	consumer	consumer	NOUN
fsr-3489	115	43	discretionary	discretionary	NOUN
fsr-3489	115	44	(	(	PUNCT
fsr-3489	115	45	4.6	4.6	NUM
fsr-3489	115	46	%	%	NOUN
fsr-3489	115	47	)	)	PUNCT
fsr-3489	115	48	,	,	PUNCT
fsr-3489	115	49	and	and	CCONJ
fsr-3489	115	50	financial	financial	ADJ
fsr-3489	115	51	(	(	PUNCT
fsr-3489	115	52	3.4	3.4	NUM
fsr-3489	115	53	%	%	NOUN
fsr-3489	115	54	)	)	PUNCT
fsr-3489	115	55	.	.	PUNCT
fsr-3489	116	1	in	in	ADP
fsr-3489	116	2	the	the	DET
fsr-3489	116	3	etf	etf	NOUN
fsr-3489	116	4	group	group	NOUN
fsr-3489	116	5	,	,	PUNCT
fsr-3489	116	6	energy	energy	NOUN
fsr-3489	116	7	(	(	PUNCT
fsr-3489	116	8	13.8	13.8	NUM
fsr-3489	116	9	%	%	NOUN
fsr-3489	116	10	)	)	PUNCT
fsr-3489	116	11	and	and	CCONJ
fsr-3489	116	12	materials	material	NOUN
fsr-3489	116	13	(	(	PUNCT
fsr-3489	116	14	9.7	9.7	NUM
fsr-3489	116	15	%	%	NOUN
fsr-3489	116	16	)	)	PUNCT
fsr-3489	116	17	are	be	AUX
fsr-3489	116	18	still	still	ADV
fsr-3489	116	19	ranked	rank	VERB
fsr-3489	116	20	first	first	ADV
fsr-3489	116	21	and	and	CCONJ
fsr-3489	116	22	second	second	ADJ
fsr-3489	116	23	,	,	PUNCT
fsr-3489	116	24	whereas	whereas	SCONJ
fsr-3489	116	25	financial	financial	ADJ
fsr-3489	116	26	(	(	PUNCT
fsr-3489	116	27	1.9	1.9	NUM
fsr-3489	116	28	%	%	NOUN
fsr-3489	116	29	)	)	PUNCT
fsr-3489	116	30	is	be	AUX
fsr-3489	116	31	again	again	ADV
fsr-3489	116	32	at	at	ADP
fsr-3489	116	33	the	the	DET
fsr-3489	116	34	bottom	bottom	NOUN
fsr-3489	116	35	.	.	PUNCT
fsr-3489	117	1	however	however	ADV
fsr-3489	117	2	,	,	PUNCT
fsr-3489	117	3	the	the	DET
fsr-3489	117	4	other	other	ADJ
fsr-3489	117	5	six	six	NUM
fsr-3489	117	6	sectors	sector	NOUN
fsr-3489	117	7	are	be	AUX
fsr-3489	117	8	ranked	rank	VERB
fsr-3489	117	9	differently	differently	ADV
fsr-3489	117	10	.	.	PUNCT
fsr-3489	118	1	fig	fig	NOUN
fsr-3489	118	2	.	.	PUNCT
fsr-3489	119	1	2	2	NUM
fsr-3489	119	2	also	also	ADV
fsr-3489	119	3	shows	show	VERB
fsr-3489	119	4	that	that	SCONJ
fsr-3489	119	5	for	for	ADP
fsr-3489	119	6	the	the	DET
fsr-3489	119	7	materials	material	NOUN
fsr-3489	119	8	,	,	PUNCT
fsr-3489	119	9	industrials	industrial	NOUN
fsr-3489	119	10	,	,	PUNCT
fsr-3489	119	11	technology	technology	NOUN
fsr-3489	119	12	,	,	PUNCT
fsr-3489	119	13	and	and	CCONJ
fsr-3489	119	14	consumer	consumer	NOUN
fsr-3489	119	15	staples	staple	NOUN
fsr-3489	119	16	sector	sector	NOUN
fsr-3489	119	17	,	,	PUNCT
fsr-3489	119	18	mf	mf	X
fsr-3489	119	19	average	average	ADJ
fsr-3489	119	20	annual	annual	ADJ
fsr-3489	119	21	holding	hold	VERB
fsr-3489	119	22	period	period	NOUN
fsr-3489	119	23	returns	return	NOUN
fsr-3489	119	24	are	be	AUX
fsr-3489	119	25	higher	high	ADJ
fsr-3489	119	26	than	than	ADP
fsr-3489	119	27	that	that	PRON
fsr-3489	119	28	of	of	ADP
fsr-3489	119	29	corresponding	correspond	VERB
fsr-3489	119	30	etfs	etfs	PROPN
fsr-3489	119	31	at	at	ADP
fsr-3489	119	32	the	the	DET
fsr-3489	119	33	1	1	NUM
fsr-3489	119	34	%	%	NOUN
fsr-3489	119	35	or	or	CCONJ
fsr-3489	119	36	5	5	NUM
fsr-3489	119	37	%	%	NOUN
fsr-3489	119	38	significance	significance	NOUN
fsr-3489	119	39	level	level	NOUN
fsr-3489	119	40	using	use	VERB
fsr-3489	119	41	one	one	NUM
fsr-3489	119	42	-	-	PUNCT
fsr-3489	119	43	tailed	tail	VERB
fsr-3489	119	44	t	t	NOUN
fsr-3489	119	45	test	test	NOUN
fsr-3489	119	46	.	.	PUNCT
fsr-3489	120	1	table	table	NOUN
fsr-3489	120	2	1	1	NUM
fsr-3489	120	3	twelve	twelve	NUM
fsr-3489	120	4	-	-	PUNCT
fsr-3489	120	5	year	year	NOUN
fsr-3489	120	6	return	return	NOUN
fsr-3489	120	7	,	,	PUNCT
fsr-3489	120	8	1999–2010	1999–2010	NUM
fsr-3489	120	9	sector	sector	NOUN
fsr-3489	120	10	mf	mf	AUX
fsr-3489	120	11	etf	etf	NOUN
fsr-3489	120	12	mf	mf	PUNCT
fsr-3489	120	13	beats	beat	VERB
fsr-3489	120	14	etf	etf	NOUN
fsr-3489	120	15	difference	difference	NOUN
fsr-3489	120	16	mf	mf	VERB
fsr-3489	120	17	beats	beat	NOUN
fsr-3489	120	18	spy	spy	NOUN
fsr-3489	120	19	etf	etf	NOUN
fsr-3489	120	20	beats	beat	NOUN
fsr-3489	120	21	spy	spy	VERB
fsr-3489	120	22	a	a	DET
fsr-3489	120	23	:	:	PUNCT
fsr-3489	120	24	holding	hold	VERB
fsr-3489	120	25	period	period	NOUN
fsr-3489	120	26	return	return	VERB
fsr-3489	120	27	b	b	PROPN
fsr-3489	120	28	287.6	287.6	NUM
fsr-3489	120	29	%	%	NOUN
fsr-3489	120	30	105.1	105.1	NUM
fsr-3489	120	31	%	%	NOUN
fsr-3489	121	1	yes	yes	INTJ
fsr-3489	121	2	182.5	182.5	NUM
fsr-3489	121	3	%	%	NOUN
fsr-3489	122	1	yes	yes	INTJ
fsr-3489	122	2	yes	yes	INTJ
fsr-3489	123	1	e	e	NOUN
fsr-3489	123	2	295.2	295.2	NUM
fsr-3489	123	3	%	%	NOUN
fsr-3489	123	4	221.3	221.3	NUM
fsr-3489	123	5	%	%	NOUN
fsr-3489	123	6	yes	yes	INTJ
fsr-3489	123	7	73.9	73.9	NUM
fsr-3489	123	8	%	%	NOUN
fsr-3489	124	1	yes	yes	INTJ
fsr-3489	124	2	yes	yes	INTJ
fsr-3489	125	1	f	f	NOUN
fsr-3489	125	2	23.4	23.4	NUM
fsr-3489	125	3	%	%	NOUN
fsr-3489	125	4	"	"	PUNCT
fsr-3489	125	5	8.0	8.0	NUM
fsr-3489	125	6	%	%	NOUN
fsr-3489	126	1	yes	yes	INTJ
fsr-3489	126	2	31.4	31.4	NUM
fsr-3489	126	3	%	%	NOUN
fsr-3489	127	1	yes	yes	INTJ
fsr-3489	127	2	no	no	INTJ
fsr-3489	127	3	i	i	PRON
fsr-3489	127	4	125.9	125.9	NUM
fsr-3489	127	5	%	%	NOUN
fsr-3489	127	6	62.1	62.1	NUM
fsr-3489	127	7	%	%	NOUN
fsr-3489	128	1	yes	yes	INTJ
fsr-3489	128	2	63.8	63.8	NUM
fsr-3489	128	3	%	%	NOUN
fsr-3489	129	1	yes	yes	INTJ
fsr-3489	130	1	yes	yes	INTJ
fsr-3489	131	1	k	k	NOUN
fsr-3489	131	2	73.5	73.5	NUM
fsr-3489	131	3	%	%	NOUN
fsr-3489	131	4	"	"	PUNCT
fsr-3489	131	5	17.4	17.4	NUM
fsr-3489	131	6	%	%	NOUN
fsr-3489	132	1	yes	yes	INTJ
fsr-3489	132	2	90.9	90.9	NUM
fsr-3489	132	3	%	%	NOUN
fsr-3489	133	1	yes	yes	INTJ
fsr-3489	133	2	no	no	INTJ
fsr-3489	134	1	p	p	NOUN
fsr-3489	134	2	82.0	82.0	NUM
fsr-3489	134	3	%	%	NOUN
fsr-3489	134	4	26.4	26.4	NUM
fsr-3489	134	5	%	%	NOUN
fsr-3489	134	6	yes	yes	INTJ
fsr-3489	134	7	55.7	55.7	NUM
fsr-3489	134	8	%	%	NOUN
fsr-3489	135	1	yes	yes	INTJ
fsr-3489	135	2	yes	yes	INTJ
fsr-3489	135	3	u	u	NOUN
fsr-3489	135	4	20.6	20.6	NUM
fsr-3489	135	5	%	%	NOUN
fsr-3489	135	6	41.3	41.3	NUM
fsr-3489	135	7	%	%	NOUN
fsr-3489	135	8	no	no	DET
fsr-3489	135	9	"	"	PUNCT
fsr-3489	135	10	20.7	20.7	NUM
fsr-3489	135	11	%	%	NOUN
fsr-3489	136	1	no	no	INTJ
fsr-3489	136	2	yes	yes	INTJ
fsr-3489	136	3	v	v	ADP
fsr-3489	136	4	50.4	50.4	NUM
fsr-3489	136	5	%	%	NOUN
fsr-3489	136	6	36.2	36.2	NUM
fsr-3489	136	7	%	%	NOUN
fsr-3489	137	1	yes	yes	INTJ
fsr-3489	137	2	14.2	14.2	NUM
fsr-3489	137	3	%	%	NOUN
fsr-3489	138	1	yes	yes	INTJ
fsr-3489	138	2	yes	yes	INTJ
fsr-3489	138	3	y	y	PROPN
fsr-3489	138	4	24.0	24.0	NUM
fsr-3489	138	5	%	%	NOUN
fsr-3489	138	6	55.0	55.0	NUM
fsr-3489	138	7	%	%	NOUN
fsr-3489	138	8	no	no	DET
fsr-3489	138	9	"	"	PUNCT
fsr-3489	138	10	30.9	30.9	NUM
fsr-3489	138	11	%	%	NOUN
fsr-3489	139	1	yes	yes	INTJ
fsr-3489	140	1	yes	yes	INTJ
fsr-3489	140	2	average	average	ADJ
fsr-3489	140	3	fund	fund	NOUN
fsr-3489	140	4	return	return	VERB
fsr-3489	140	5	109.2	109.2	NUM
fsr-3489	140	6	%	%	NOUN
fsr-3489	140	7	58.0	58.0	NUM
fsr-3489	140	8	%	%	NOUN
fsr-3489	140	9	p	p	NOUN
fsr-3489	140	10	-	-	PUNCT
fsr-3489	140	11	value	value	NOUN
fsr-3489	140	12	average	average	ADJ
fsr-3489	140	13	mf	mf	NOUN
fsr-3489	140	14	return	return	VERB
fsr-3489	140	15	higher	high	ADJ
fsr-3489	140	16	than	than	ADP
fsr-3489	140	17	average	average	ADJ
fsr-3489	140	18	etf	etf	NOUN
fsr-3489	140	19	return	return	NOUN
fsr-3489	140	20	0.022	0.022	NUM
fsr-3489	140	21	spy	spy	NOUN
fsr-3489	140	22	20.8	20.8	NUM
fsr-3489	140	23	%	%	NOUN
fsr-3489	140	24	b	b	NOUN
fsr-3489	140	25	:	:	PUNCT
fsr-3489	140	26	return	return	VERB
fsr-3489	140	27	with	with	ADP
fsr-3489	140	28	annual	annual	ADJ
fsr-3489	140	29	compounding	compounding	NOUN
fsr-3489	140	30	b	b	PROPN
fsr-3489	140	31	325.9	325.9	NUM
fsr-3489	140	32	%	%	NOUN
fsr-3489	140	33	118.7	118.7	NUM
fsr-3489	140	34	%	%	NOUN
fsr-3489	141	1	yes	yes	INTJ
fsr-3489	141	2	207.2	207.2	NUM
fsr-3489	141	3	%	%	NOUN
fsr-3489	142	1	yes	yes	INTJ
fsr-3489	142	2	yes	yes	INTJ
fsr-3489	143	1	e	e	NOUN
fsr-3489	143	2	354.3	354.3	NUM
fsr-3489	143	3	%	%	NOUN
fsr-3489	143	4	243.2	243.2	NUM
fsr-3489	143	5	%	%	NOUN
fsr-3489	144	1	yes	yes	INTJ
fsr-3489	144	2	111.0	111.0	NUM
fsr-3489	144	3	%	%	NOUN
fsr-3489	145	1	yes	yes	INTJ
fsr-3489	145	2	yes	yes	INTJ
fsr-3489	146	1	f	f	PROPN
fsr-3489	146	2	8.4	8.4	NUM
fsr-3489	146	3	%	%	NOUN
fsr-3489	146	4	"	"	PUNCT
fsr-3489	146	5	13.7	13.7	NUM
fsr-3489	146	6	%	%	NOUN
fsr-3489	146	7	yes	yes	INTJ
fsr-3489	147	1	22.0	22.0	NUM
fsr-3489	147	2	%	%	NOUN
fsr-3489	148	1	no	no	INTJ
fsr-3489	148	2	no	no	INTJ
fsr-3489	148	3	i	i	PRON
fsr-3489	148	4	148.8	148.8	NUM
fsr-3489	148	5	%	%	NOUN
fsr-3489	148	6	67.8	67.8	NUM
fsr-3489	148	7	%	%	NOUN
fsr-3489	148	8	yes	yes	INTJ
fsr-3489	149	1	81.0	81.0	NUM
fsr-3489	149	2	%	%	NOUN
fsr-3489	150	1	yes	yes	INTJ
fsr-3489	150	2	yes	yes	INTJ
fsr-3489	151	1	k	k	NOUN
fsr-3489	151	2	70.5	70.5	NUM
fsr-3489	151	3	%	%	NOUN
fsr-3489	151	4	"	"	PUNCT
fsr-3489	151	5	16.2	16.2	NUM
fsr-3489	151	6	%	%	NOUN
fsr-3489	152	1	yes	yes	INTJ
fsr-3489	152	2	86.7	86.7	NUM
fsr-3489	152	3	%	%	NOUN
fsr-3489	152	4	yes	yes	INTJ
fsr-3489	153	1	no	no	INTJ
fsr-3489	153	2	p	p	NOUN
fsr-3489	153	3	111.2	111.2	NUM
fsr-3489	153	4	%	%	NOUN
fsr-3489	153	5	31.6	31.6	NUM
fsr-3489	153	6	%	%	NOUN
fsr-3489	154	1	yes	yes	INTJ
fsr-3489	154	2	79.6	79.6	NUM
fsr-3489	154	3	%	%	NOUN
fsr-3489	155	1	yes	yes	INTJ
fsr-3489	155	2	yes	yes	INTJ
fsr-3489	155	3	u	u	NOUN
fsr-3489	155	4	25.7	25.7	NUM
fsr-3489	155	5	%	%	NOUN
fsr-3489	155	6	51.8	51.8	NUM
fsr-3489	155	7	%	%	NOUN
fsr-3489	155	8	no	no	PRON
fsr-3489	155	9	"	"	PUNCT
fsr-3489	155	10	26.1	26.1	NUM
fsr-3489	155	11	%	%	NOUN
fsr-3489	156	1	yes	yes	INTJ
fsr-3489	156	2	yes	yes	INTJ
fsr-3489	156	3	v	v	ADP
fsr-3489	156	4	67.6	67.6	NUM
fsr-3489	156	5	%	%	NOUN
fsr-3489	156	6	37.4	37.4	NUM
fsr-3489	156	7	%	%	NOUN
fsr-3489	157	1	yes	yes	INTJ
fsr-3489	157	2	30.1	30.1	NUM
fsr-3489	157	3	%	%	NOUN
fsr-3489	158	1	yes	yes	INTJ
fsr-3489	158	2	yes	yes	INTJ
fsr-3489	159	1	y	y	PROPN
fsr-3489	159	2	36.4	36.4	NUM
fsr-3489	159	3	%	%	NOUN
fsr-3489	159	4	58.4	58.4	NUM
fsr-3489	159	5	%	%	NOUN
fsr-3489	159	6	no	no	DET
fsr-3489	159	7	"	"	PUNCT
fsr-3489	159	8	21.9	21.9	NUM
fsr-3489	159	9	%	%	NOUN
fsr-3489	160	1	yes	yes	INTJ
fsr-3489	161	1	yes	yes	INTJ
fsr-3489	161	2	average	average	ADJ
fsr-3489	161	3	fund	fund	NOUN
fsr-3489	161	4	return	return	VERB
fsr-3489	161	5	127.6	127.6	NUM
fsr-3489	161	6	%	%	NOUN
fsr-3489	161	7	64.3	64.3	NUM
fsr-3489	161	8	%	%	NOUN
fsr-3489	161	9	p	p	NOUN
fsr-3489	161	10	-	-	PUNCT
fsr-3489	161	11	value	value	NOUN
fsr-3489	161	12	average	average	ADJ
fsr-3489	161	13	mf	mf	NOUN
fsr-3489	161	14	return	return	VERB
fsr-3489	161	15	higher	high	ADJ
fsr-3489	161	16	than	than	ADP
fsr-3489	161	17	average	average	ADJ
fsr-3489	161	18	etf	etf	NOUN
fsr-3489	161	19	return	return	NOUN
fsr-3489	161	20	0.015	0.015	NUM
fsr-3489	161	21	spy	spy	NOUN
fsr-3489	161	22	23.9	23.9	NUM
fsr-3489	161	23	%	%	NOUN
fsr-3489	161	24	note	note	NOUN
fsr-3489	161	25	:	:	PUNCT
fsr-3489	161	26	b	b	X
fsr-3489	161	27	represents	represent	VERB
fsr-3489	161	28	the	the	DET
fsr-3489	161	29	materials	material	NOUN
fsr-3489	161	30	sector	sector	NOUN
fsr-3489	161	31	;	;	PUNCT
fsr-3489	161	32	e	e	PRON
fsr-3489	161	33	represents	represent	VERB
fsr-3489	161	34	the	the	DET
fsr-3489	161	35	energy	energy	NOUN
fsr-3489	161	36	sector	sector	NOUN
fsr-3489	161	37	;	;	PUNCT
fsr-3489	161	38	f	f	PROPN
fsr-3489	161	39	represents	represent	VERB
fsr-3489	161	40	the	the	DET
fsr-3489	161	41	financial	financial	ADJ
fsr-3489	161	42	sector	sector	NOUN
fsr-3489	161	43	;	;	PUNCT
fsr-3489	161	44	i	i	PRON
fsr-3489	161	45	represents	represent	VERB
fsr-3489	161	46	the	the	DET
fsr-3489	161	47	industrials	industrial	NOUN
fsr-3489	161	48	sector	sector	NOUN
fsr-3489	161	49	;	;	PUNCT
fsr-3489	161	50	k	k	X
fsr-3489	161	51	represents	represent	VERB
fsr-3489	161	52	the	the	DET
fsr-3489	161	53	technology	technology	NOUN
fsr-3489	161	54	sector	sector	NOUN
fsr-3489	161	55	;	;	PUNCT
fsr-3489	161	56	p	p	NOUN
fsr-3489	161	57	represents	represent	VERB
fsr-3489	161	58	the	the	DET
fsr-3489	161	59	consumer	consumer	NOUN
fsr-3489	161	60	staples	staple	NOUN
fsr-3489	161	61	sector	sector	NOUN
fsr-3489	161	62	;	;	PUNCT
fsr-3489	161	63	u	u	PRON
fsr-3489	161	64	represents	represent	VERB
fsr-3489	161	65	the	the	DET
fsr-3489	161	66	utilities	utility	NOUN
fsr-3489	161	67	sector	sector	NOUN
fsr-3489	161	68	;	;	PUNCT
fsr-3489	161	69	v	v	X
fsr-3489	161	70	represents	represent	VERB
fsr-3489	161	71	the	the	DET
fsr-3489	161	72	healthcare	healthcare	NOUN
fsr-3489	161	73	sector	sector	NOUN
fsr-3489	161	74	;	;	PUNCT
fsr-3489	161	75	y	y	PRON
fsr-3489	161	76	represents	represent	VERB
fsr-3489	161	77	the	the	DET
fsr-3489	161	78	consumer	consumer	NOUN
fsr-3489	161	79	discretionary	discretionary	ADJ
fsr-3489	161	80	sector	sector	NOUN
fsr-3489	161	81	;	;	PUNCT
fsr-3489	161	82	and	and	CCONJ
fsr-3489	161	83	spy	spy	NOUN
fsr-3489	161	84	represents	represent	VERB
fsr-3489	161	85	the	the	DET
fsr-3489	161	86	spdr	spdr	NOUN
fsr-3489	161	87	s&p	s&p	PROPN
fsr-3489	161	88	500	500	NUM
fsr-3489	161	89	trust	trust	NOUN
fsr-3489	161	90	.	.	PUNCT
fsr-3489	162	1	holding	hold	VERB
fsr-3489	162	2	period	period	NOUN
fsr-3489	162	3	return	return	NOUN
fsr-3489	162	4	in	in	ADP
fsr-3489	162	5	panel	panel	NOUN
fsr-3489	162	6	a	a	PRON
fsr-3489	162	7	is	be	AUX
fsr-3489	162	8	calculated	calculate	VERB
fsr-3489	162	9	by	by	ADP
fsr-3489	162	10	adding	add	VERB
fsr-3489	162	11	ending	end	VERB
fsr-3489	162	12	price	price	NOUN
fsr-3489	162	13	and	and	CCONJ
fsr-3489	162	14	all	all	DET
fsr-3489	162	15	dividends	dividend	NOUN
fsr-3489	162	16	paid	pay	VERB
fsr-3489	162	17	in	in	ADP
fsr-3489	162	18	12	12	NUM
fsr-3489	162	19	years	year	NOUN
fsr-3489	162	20	then	then	ADV
fsr-3489	162	21	divided	divide	VERB
fsr-3489	162	22	by	by	ADP
fsr-3489	162	23	beginning	begin	VERB
fsr-3489	162	24	price	price	NOUN
fsr-3489	162	25	.	.	PUNCT
fsr-3489	163	1	return	return	VERB
fsr-3489	163	2	with	with	ADP
fsr-3489	163	3	annual	annual	ADJ
fsr-3489	163	4	compounding	compounding	NOUN
fsr-3489	163	5	in	in	ADP
fsr-3489	163	6	panel	panel	NOUN
fsr-3489	163	7	b	b	PROPN
fsr-3489	163	8	is	be	AUX
fsr-3489	163	9	calculated	calculate	VERB
fsr-3489	163	10	by	by	ADP
fsr-3489	163	11	compounding	compound	VERB
fsr-3489	163	12	annual	annual	ADJ
fsr-3489	163	13	holding	hold	VERB
fsr-3489	163	14	period	period	NOUN
fsr-3489	163	15	returns	return	NOUN
fsr-3489	163	16	for	for	ADP
fsr-3489	163	17	each	each	DET
fsr-3489	163	18	individual	individual	ADJ
fsr-3489	163	19	fund	fund	NOUN
fsr-3489	163	20	.	.	PUNCT
fsr-3489	164	1	254	254	NUM
fsr-3489	164	2	c.y	c.y	PROPN
fsr-3489	164	3	.	.	PROPN
fsr-3489	164	4	lin	lin	PROPN
fsr-3489	164	5	/	/	SYM
fsr-3489	164	6	financial	financial	ADJ
fsr-3489	164	7	services	service	NOUN
fsr-3489	164	8	review	review	VERB
fsr-3489	164	9	23	23	NUM
fsr-3489	164	10	(	(	PUNCT
fsr-3489	164	11	2014	2014	NUM
fsr-3489	164	12	)	)	PUNCT
fsr-3489	165	1	249–271	249–271	NUM
fsr-3489	165	2	-100	-100	NUM
fsr-3489	165	3	%	%	NOUN
fsr-3489	165	4	-50	-50	NUM
fsr-3489	165	5	%	%	NOUN
fsr-3489	165	6	0	0	NUM
fsr-3489	165	7	%	%	NOUN
fsr-3489	165	8	50	50	NUM
fsr-3489	165	9	%	%	NOUN
fsr-3489	165	10	100	100	NUM
fsr-3489	165	11	%	%	NOUN
fsr-3489	165	12	materials	material	NOUN
fsr-3489	165	13	-60	-60	SYM
fsr-3489	165	14	%	%	NOUN
fsr-3489	165	15	-40	-40	NOUN
fsr-3489	165	16	%	%	NOUN
fsr-3489	165	17	-20	-20	NUM
fsr-3489	165	18	%	%	NOUN
fsr-3489	165	19	0	0	NUM
fsr-3489	165	20	%	%	NOUN
fsr-3489	165	21	20	20	NUM
fsr-3489	165	22	%	%	NOUN
fsr-3489	165	23	40	40	NUM
fsr-3489	165	24	%	%	NOUN
fsr-3489	165	25	60	60	NUM
fsr-3489	165	26	%	%	NOUN
fsr-3489	165	27	energy	energy	NOUN
fsr-3489	165	28	-60	-60	X
fsr-3489	165	29	%	%	NOUN
fsr-3489	165	30	-40	-40	PROPN
fsr-3489	165	31	%	%	NOUN
fsr-3489	165	32	-20	-20	NUM
fsr-3489	165	33	%	%	NOUN
fsr-3489	165	34	0	0	NUM
fsr-3489	165	35	%	%	NOUN
fsr-3489	165	36	20	20	NUM
fsr-3489	165	37	%	%	NOUN
fsr-3489	165	38	40	40	NUM
fsr-3489	165	39	%	%	NOUN
fsr-3489	165	40	60	60	NUM
fsr-3489	165	41	%	%	NOUN
fsr-3489	165	42	industrials	industrial	NOUN
fsr-3489	165	43	-40	-40	NOUN
fsr-3489	165	44	%	%	NOUN
fsr-3489	165	45	-20	-20	NUM
fsr-3489	165	46	%	%	NOUN
fsr-3489	165	47	0	0	NUM
fsr-3489	165	48	%	%	NOUN
fsr-3489	165	49	20	20	NUM
fsr-3489	165	50	%	%	NOUN
fsr-3489	165	51	40	40	NUM
fsr-3489	165	52	%	%	NOUN
fsr-3489	165	53	consumer	consumer	NOUN
fsr-3489	165	54	staples	staple	NOUN
fsr-3489	165	55	-60	-60	X
fsr-3489	165	56	%	%	NOUN
fsr-3489	165	57	-40	-40	PROPN
fsr-3489	165	58	%	%	NOUN
fsr-3489	165	59	-20	-20	NUM
fsr-3489	165	60	%	%	NOUN
fsr-3489	165	61	0	0	NUM
fsr-3489	165	62	%	%	NOUN
fsr-3489	165	63	20	20	NUM
fsr-3489	165	64	%	%	NOUN
fsr-3489	165	65	40	40	NUM
fsr-3489	165	66	%	%	NOUN
fsr-3489	165	67	healthcare	healthcare	NOUN
fsr-3489	165	68	-60	-60	PROPN
fsr-3489	165	69	%	%	NOUN
fsr-3489	165	70	-40	-40	PROPN
fsr-3489	165	71	%	%	NOUN
fsr-3489	165	72	-20	-20	NUM
fsr-3489	165	73	%	%	NOUN
fsr-3489	165	74	0	0	NUM
fsr-3489	165	75	%	%	NOUN
fsr-3489	165	76	20	20	NUM
fsr-3489	165	77	%	%	NOUN
fsr-3489	165	78	40	40	NUM
fsr-3489	165	79	%	%	NOUN
fsr-3489	165	80	financial	financial	ADJ
fsr-3489	165	81	-60	-60	PROPN
fsr-3489	165	82	%	%	NOUN
fsr-3489	165	83	-40	-40	PROPN
fsr-3489	165	84	%	%	NOUN
fsr-3489	165	85	-20	-20	NUM
fsr-3489	165	86	%	%	NOUN
fsr-3489	165	87	0	0	NUM
fsr-3489	165	88	%	%	NOUN
fsr-3489	165	89	20	20	NUM
fsr-3489	165	90	%	%	NOUN
fsr-3489	165	91	40	40	NUM
fsr-3489	165	92	%	%	NOUN
fsr-3489	165	93	60	60	NUM
fsr-3489	165	94	%	%	NOUN
fsr-3489	165	95	80	80	NUM
fsr-3489	165	96	%	%	NOUN
fsr-3489	165	97	100	100	NUM
fsr-3489	165	98	%	%	NOUN
fsr-3489	165	99	120	120	NUM
fsr-3489	165	100	%	%	NOUN
fsr-3489	165	101	140	140	NUM
fsr-3489	165	102	%	%	NOUN
fsr-3489	165	103	technology	technology	NOUN
fsr-3489	165	104	-40	-40	NOUN
fsr-3489	165	105	%	%	NOUN
fsr-3489	165	106	-20	-20	NUM
fsr-3489	165	107	%	%	NOUN
fsr-3489	165	108	0	0	NUM
fsr-3489	165	109	%	%	NOUN
fsr-3489	165	110	20	20	NUM
fsr-3489	165	111	%	%	NOUN
fsr-3489	165	112	40	40	NUM
fsr-3489	165	113	%	%	NOUN
fsr-3489	165	114	utilities	utility	NOUN
fsr-3489	165	115	-60	-60	SYM
fsr-3489	165	116	%	%	NOUN
fsr-3489	165	117	-40	-40	PROPN
fsr-3489	165	118	%	%	NOUN
fsr-3489	165	119	-20	-20	NUM
fsr-3489	165	120	%	%	NOUN
fsr-3489	165	121	0	0	NUM
fsr-3489	165	122	%	%	NOUN
fsr-3489	165	123	20	20	NUM
fsr-3489	165	124	%	%	NOUN
fsr-3489	165	125	40	40	NUM
fsr-3489	165	126	%	%	NOUN
fsr-3489	165	127	60	60	NUM
fsr-3489	165	128	%	%	NOUN
fsr-3489	165	129	consumer	consumer	NOUN
fsr-3489	165	130	discretionary	discretionary	ADJ
fsr-3489	165	131	mf	mf	X
fsr-3489	165	132	etf	etf	NOUN
fsr-3489	165	133	spy	spy	NOUN
fsr-3489	165	134	fig	fig	NOUN
fsr-3489	165	135	.	.	PUNCT
fsr-3489	166	1	1	1	NUM
fsr-3489	166	2	.	.	X
fsr-3489	166	3	annual	annual	ADJ
fsr-3489	166	4	holding	hold	VERB
fsr-3489	166	5	period	period	NOUN
fsr-3489	166	6	return	return	NOUN
fsr-3489	166	7	.	.	PUNCT
fsr-3489	167	1	255c.y	255c.y	X
fsr-3489	167	2	.	.	PUNCT
fsr-3489	168	1	lin	lin	PROPN
fsr-3489	168	2	/	/	SYM
fsr-3489	168	3	financial	financial	ADJ
fsr-3489	168	4	services	service	NOUN
fsr-3489	168	5	review	review	VERB
fsr-3489	168	6	23	23	NUM
fsr-3489	168	7	(	(	PUNCT
fsr-3489	168	8	2014	2014	NUM
fsr-3489	168	9	)	)	PUNCT
fsr-3489	169	1	249–271	249–271	NUM
fsr-3489	169	2	when	when	SCONJ
fsr-3489	169	3	annual	annual	ADJ
fsr-3489	169	4	holding	hold	VERB
fsr-3489	169	5	period	period	NOUN
fsr-3489	169	6	return	return	NOUN
fsr-3489	169	7	is	be	AUX
fsr-3489	169	8	compared	compare	VERB
fsr-3489	169	9	between	between	ADP
fsr-3489	169	10	mfs	mfs	PROPN
fsr-3489	169	11	and	and	CCONJ
fsr-3489	169	12	etfs	etfs	NOUN
fsr-3489	169	13	,	,	PUNCT
fsr-3489	169	14	for	for	ADP
fsr-3489	169	15	the	the	DET
fsr-3489	169	16	same	same	ADJ
fsr-3489	169	17	sector	sector	NOUN
fsr-3489	169	18	,	,	PUNCT
fsr-3489	169	19	table	table	NOUN
fsr-3489	169	20	2	2	NUM
fsr-3489	169	21	shows	show	VERB
fsr-3489	169	22	that	that	SCONJ
fsr-3489	169	23	seven	seven	NUM
fsr-3489	169	24	out	out	ADP
fsr-3489	169	25	of	of	ADP
fsr-3489	169	26	nine	nine	NUM
fsr-3489	169	27	mfs	mfs	NOUN
fsr-3489	169	28	(	(	PUNCT
fsr-3489	169	29	except	except	SCONJ
fsr-3489	169	30	utilities	utility	NOUN
fsr-3489	169	31	and	and	CCONJ
fsr-3489	169	32	consumer	consumer	NOUN
fsr-3489	169	33	discretionary	discretionary	NOUN
fsr-3489	169	34	)	)	PUNCT
fsr-3489	169	35	generate	generate	VERB
fsr-3489	169	36	a	a	DET
fsr-3489	169	37	higher	high	ADJ
fsr-3489	169	38	return	return	NOUN
fsr-3489	169	39	in	in	ADP
fsr-3489	169	40	seven	seven	NUM
fsr-3489	169	41	or	or	CCONJ
fsr-3489	169	42	more	more	ADJ
fsr-3489	169	43	years	year	NOUN
fsr-3489	169	44	in	in	ADP
fsr-3489	169	45	the	the	DET
fsr-3489	169	46	12	12	NUM
fsr-3489	169	47	year	year	NOUN
fsr-3489	169	48	sample	sample	NOUN
fsr-3489	169	49	period	period	NOUN
fsr-3489	169	50	.	.	PUNCT
fsr-3489	170	1	the	the	DET
fsr-3489	170	2	average	average	ADJ
fsr-3489	170	3	number	number	NOUN
fsr-3489	170	4	of	of	ADP
fsr-3489	170	5	years	year	NOUN
fsr-3489	170	6	of	of	ADP
fsr-3489	170	7	outperforming	outperforming	NOUN
fsr-3489	170	8	is	be	AUX
fsr-3489	170	9	7.9	7.9	NUM
fsr-3489	170	10	and	and	CCONJ
fsr-3489	170	11	the	the	DET
fsr-3489	170	12	percentage	percentage	NOUN
fsr-3489	170	13	of	of	ADP
fsr-3489	170	14	years	year	NOUN
fsr-3489	170	15	of	of	ADP
fsr-3489	170	16	outperforming	outperforming	NOUN
fsr-3489	170	17	is	be	AUX
fsr-3489	170	18	66	66	NUM
fsr-3489	170	19	%	%	NOUN
fsr-3489	170	20	.	.	PUNCT
fsr-3489	171	1	using	use	VERB
fsr-3489	171	2	spy	spy	NOUN
fsr-3489	171	3	as	as	ADP
fsr-3489	171	4	the	the	DET
fsr-3489	171	5	benchmark	benchmark	NOUN
fsr-3489	171	6	,	,	PUNCT
fsr-3489	171	7	on	on	ADP
fsr-3489	171	8	average	average	ADJ
fsr-3489	171	9	in	in	ADP
fsr-3489	171	10	7.4	7.4	NUM
fsr-3489	171	11	out	out	ADP
fsr-3489	171	12	of	of	ADP
fsr-3489	171	13	12	12	NUM
fsr-3489	171	14	years	year	NOUN
fsr-3489	171	15	mfs	mfs	VERB
fsr-3489	171	16	beat	beat	NOUN
fsr-3489	171	17	spy	spy	NOUN
fsr-3489	171	18	(	(	PUNCT
fsr-3489	171	19	62	62	NUM
fsr-3489	171	20	%	%	NOUN
fsr-3489	171	21	of	of	ADP
fsr-3489	171	22	years	year	NOUN
fsr-3489	171	23	)	)	PUNCT
fsr-3489	171	24	;	;	PUNCT
fsr-3489	171	25	only	only	ADV
fsr-3489	171	26	in	in	ADP
fsr-3489	171	27	6.4	6.4	NUM
fsr-3489	171	28	years	year	NOUN
fsr-3489	171	29	does	do	VERB
fsr-3489	171	30	the	the	DET
fsr-3489	171	31	etf	etf	PROPN
fsr-3489	171	32	group	group	NOUN
fsr-3489	171	33	beat	beat	NOUN
fsr-3489	171	34	spy	spy	NOUN
fsr-3489	171	35	(	(	PUNCT
fsr-3489	171	36	54	54	NUM
fsr-3489	171	37	%	%	NOUN
fsr-3489	171	38	of	of	ADP
fsr-3489	171	39	years	year	NOUN
fsr-3489	171	40	)	)	PUNCT
fsr-3489	171	41	.	.	PUNCT
fsr-3489	172	1	table	table	NOUN
fsr-3489	172	2	2	2	NUM
fsr-3489	172	3	annual	annual	ADJ
fsr-3489	172	4	return	return	NOUN
fsr-3489	172	5	comparison	comparison	NOUN
fsr-3489	172	6	,	,	PUNCT
fsr-3489	172	7	1999–2010	1999–2010	NUM
fsr-3489	172	8	sector	sector	NOUN
fsr-3489	172	9	mf	mf	VERB
fsr-3489	172	10	beats	beat	VERB
fsr-3489	172	11	etf	etf	NOUN
fsr-3489	172	12	mf	mf	NOUN
fsr-3489	172	13	beats	beat	NOUN
fsr-3489	172	14	spy	spy	NOUN
fsr-3489	172	15	etf	etf	NOUN
fsr-3489	172	16	beats	beat	NOUN
fsr-3489	172	17	spy	spy	NOUN
fsr-3489	172	18	number	number	NOUN
fsr-3489	172	19	of	of	ADP
fsr-3489	172	20	years	year	NOUN
fsr-3489	172	21	%	%	NOUN
fsr-3489	172	22	of	of	ADP
fsr-3489	172	23	years	year	NOUN
fsr-3489	172	24	number	number	NOUN
fsr-3489	172	25	of	of	ADP
fsr-3489	172	26	years	year	NOUN
fsr-3489	172	27	%	%	NOUN
fsr-3489	172	28	of	of	ADP
fsr-3489	172	29	years	year	NOUN
fsr-3489	172	30	number	number	NOUN
fsr-3489	172	31	of	of	ADP
fsr-3489	172	32	years	year	NOUN
fsr-3489	172	33	%	%	NOUN
fsr-3489	172	34	of	of	ADP
fsr-3489	172	35	years	year	NOUN
fsr-3489	172	36	b	b	NOUN
fsr-3489	172	37	9	9	NUM
fsr-3489	172	38	75	75	NUM
fsr-3489	172	39	%	%	NOUN
fsr-3489	172	40	10	10	NUM
fsr-3489	172	41	83	83	NUM
fsr-3489	172	42	%	%	NOUN
fsr-3489	172	43	9	9	NUM
fsr-3489	172	44	75	75	NUM
fsr-3489	172	45	%	%	NOUN
fsr-3489	172	46	e	e	NOUN
fsr-3489	172	47	7	7	NUM
fsr-3489	172	48	58	58	NUM
fsr-3489	172	49	%	%	NOUN
fsr-3489	172	50	9	9	NUM
fsr-3489	172	51	75	75	NUM
fsr-3489	172	52	%	%	NOUN
fsr-3489	172	53	7	7	NUM
fsr-3489	172	54	58	58	NUM
fsr-3489	172	55	%	%	NOUN
fsr-3489	172	56	f	f	NOUN
fsr-3489	172	57	9	9	NUM
fsr-3489	172	58	75	75	NUM
fsr-3489	172	59	%	%	NOUN
fsr-3489	172	60	6	6	NUM
fsr-3489	172	61	50	50	NUM
fsr-3489	172	62	%	%	NOUN
fsr-3489	172	63	7	7	NUM
fsr-3489	172	64	58	58	NUM
fsr-3489	172	65	%	%	NOUN
fsr-3489	172	66	i	i	NOUN
fsr-3489	172	67	10	10	NUM
fsr-3489	172	68	83	83	NUM
fsr-3489	172	69	%	%	NOUN
fsr-3489	172	70	9	9	NUM
fsr-3489	172	71	75	75	NUM
fsr-3489	172	72	%	%	NOUN
fsr-3489	172	73	7	7	NUM
fsr-3489	172	74	58	58	NUM
fsr-3489	172	75	%	%	NOUN
fsr-3489	172	76	k	k	NOUN
fsr-3489	172	77	8	8	NUM
fsr-3489	172	78	67	67	NUM
fsr-3489	172	79	%	%	NOUN
fsr-3489	172	80	6	6	NUM
fsr-3489	172	81	50	50	NUM
fsr-3489	172	82	%	%	NOUN
fsr-3489	172	83	4	4	NUM
fsr-3489	172	84	33	33	NUM
fsr-3489	172	85	%	%	NOUN
fsr-3489	172	86	p	p	NOUN
fsr-3489	172	87	10	10	NUM
fsr-3489	172	88	83	83	NUM
fsr-3489	172	89	%	%	NOUN
fsr-3489	172	90	9	9	NUM
fsr-3489	172	91	75	75	NUM
fsr-3489	172	92	%	%	NOUN
fsr-3489	172	93	5	5	NUM
fsr-3489	172	94	42	42	NUM
fsr-3489	172	95	%	%	NOUN
fsr-3489	172	96	u	u	NOUN
fsr-3489	172	97	6	6	NUM
fsr-3489	172	98	50	50	NUM
fsr-3489	172	99	%	%	NOUN
fsr-3489	172	100	6	6	NUM
fsr-3489	172	101	50	50	NUM
fsr-3489	172	102	%	%	NOUN
fsr-3489	172	103	6	6	NUM
fsr-3489	172	104	50	50	NUM
fsr-3489	172	105	%	%	NOUN
fsr-3489	172	106	v	v	ADP
fsr-3489	172	107	7	7	NUM
fsr-3489	172	108	58	58	NUM
fsr-3489	172	109	%	%	NOUN
fsr-3489	172	110	7	7	NUM
fsr-3489	172	111	58	58	NUM
fsr-3489	172	112	%	%	NOUN
fsr-3489	172	113	5	5	NUM
fsr-3489	172	114	42	42	NUM
fsr-3489	172	115	%	%	NOUN
fsr-3489	172	116	y	y	NOUN
fsr-3489	172	117	5	5	NUM
fsr-3489	172	118	42	42	NUM
fsr-3489	172	119	%	%	NOUN
fsr-3489	172	120	5	5	NUM
fsr-3489	172	121	42	42	NUM
fsr-3489	172	122	%	%	NOUN
fsr-3489	172	123	8	8	NUM
fsr-3489	172	124	67	67	NUM
fsr-3489	172	125	%	%	NOUN
fsr-3489	172	126	average	average	ADJ
fsr-3489	172	127	7.9	7.9	NUM
fsr-3489	172	128	66	66	NUM
fsr-3489	172	129	%	%	NOUN
fsr-3489	172	130	7.4	7.4	NUM
fsr-3489	172	131	62	62	NUM
fsr-3489	172	132	%	%	NOUN
fsr-3489	172	133	6.4	6.4	NUM
fsr-3489	172	134	54	54	NUM
fsr-3489	172	135	%	%	NOUN
fsr-3489	172	136	note	note	NOUN
fsr-3489	172	137	:	:	PUNCT
fsr-3489	172	138	b	b	X
fsr-3489	172	139	represents	represent	VERB
fsr-3489	172	140	the	the	DET
fsr-3489	172	141	materials	material	NOUN
fsr-3489	172	142	sector	sector	NOUN
fsr-3489	172	143	;	;	PUNCT
fsr-3489	172	144	e	e	PRON
fsr-3489	172	145	represents	represent	VERB
fsr-3489	172	146	the	the	DET
fsr-3489	172	147	energy	energy	NOUN
fsr-3489	172	148	sector	sector	NOUN
fsr-3489	172	149	;	;	PUNCT
fsr-3489	172	150	f	f	PROPN
fsr-3489	172	151	represents	represent	VERB
fsr-3489	172	152	the	the	DET
fsr-3489	172	153	financial	financial	ADJ
fsr-3489	172	154	sector	sector	NOUN
fsr-3489	172	155	;	;	PUNCT
fsr-3489	172	156	i	i	PRON
fsr-3489	172	157	represents	represent	VERB
fsr-3489	172	158	the	the	DET
fsr-3489	172	159	industrials	industrial	NOUN
fsr-3489	172	160	sector	sector	NOUN
fsr-3489	172	161	;	;	PUNCT
fsr-3489	172	162	k	k	X
fsr-3489	172	163	represents	represent	VERB
fsr-3489	172	164	the	the	DET
fsr-3489	172	165	technology	technology	NOUN
fsr-3489	172	166	sector	sector	NOUN
fsr-3489	172	167	;	;	PUNCT
fsr-3489	172	168	p	p	NOUN
fsr-3489	172	169	represents	represent	VERB
fsr-3489	172	170	the	the	DET
fsr-3489	172	171	consumer	consumer	NOUN
fsr-3489	172	172	staples	staple	NOUN
fsr-3489	172	173	sector	sector	NOUN
fsr-3489	172	174	;	;	PUNCT
fsr-3489	172	175	u	u	PRON
fsr-3489	172	176	represents	represent	VERB
fsr-3489	172	177	the	the	DET
fsr-3489	172	178	utilities	utility	NOUN
fsr-3489	172	179	sector	sector	NOUN
fsr-3489	172	180	;	;	PUNCT
fsr-3489	172	181	v	v	X
fsr-3489	172	182	represents	represent	VERB
fsr-3489	172	183	the	the	DET
fsr-3489	172	184	healthcare	healthcare	NOUN
fsr-3489	172	185	sector	sector	NOUN
fsr-3489	172	186	;	;	PUNCT
fsr-3489	172	187	y	y	PRON
fsr-3489	172	188	represents	represent	VERB
fsr-3489	172	189	the	the	DET
fsr-3489	172	190	consumer	consumer	NOUN
fsr-3489	172	191	discretionary	discretionary	ADJ
fsr-3489	172	192	sector	sector	NOUN
fsr-3489	172	193	;	;	PUNCT
fsr-3489	172	194	and	and	CCONJ
fsr-3489	172	195	spy	spy	NOUN
fsr-3489	172	196	represents	represent	VERB
fsr-3489	172	197	the	the	DET
fsr-3489	172	198	spdr	spdr	NOUN
fsr-3489	172	199	s&p	s&p	PROPN
fsr-3489	172	200	500	500	NUM
fsr-3489	172	201	trust	trust	NOUN
fsr-3489	172	202	.	.	PUNCT
fsr-3489	173	1	total	total	ADJ
fsr-3489	173	2	number	number	NOUN
fsr-3489	173	3	of	of	ADP
fsr-3489	173	4	years	year	NOUN
fsr-3489	173	5	:	:	PUNCT
fsr-3489	173	6	12	12	NUM
fsr-3489	173	7	.	.	PUNCT
fsr-3489	174	1	p	p	X
fsr-3489	174	2	-	-	PUNCT
fsr-3489	174	3	value	value	NOUN
fsr-3489	174	4	average	average	ADJ
fsr-3489	174	5	mf	mf	PRON
fsr-3489	174	6	annual	annual	ADJ
fsr-3489	174	7	holding	hold	VERB
fsr-3489	174	8	period	period	NOUN
fsr-3489	174	9	return	return	VERB
fsr-3489	174	10	higher	high	ADJ
fsr-3489	174	11	than	than	ADP
fsr-3489	174	12	average	average	ADJ
fsr-3489	174	13	etf	etf	NOUN
fsr-3489	174	14	annual	annual	ADJ
fsr-3489	174	15	holding	hold	VERB
fsr-3489	174	16	period	period	NOUN
fsr-3489	174	17	return	return	VERB
fsr-3489	174	18	b	b	NOUN
fsr-3489	175	1	e	e	NOUN
fsr-3489	175	2	f	f	X
fsr-3489	176	1	i	i	PRON
fsr-3489	176	2	k	k	PROPN
fsr-3489	177	1	p	p	X
fsr-3489	177	2	u	u	X
fsr-3489	177	3	v	v	ADP
fsr-3489	177	4	y	y	PROPN
fsr-3489	177	5	0.012	0.012	NUM
fsr-3489	177	6	0.082	0.082	NUM
fsr-3489	177	7	0.092	0.092	NUM
fsr-3489	177	8	0.002	0.002	NUM
fsr-3489	177	9	0.046	0.046	NUM
fsr-3489	177	10	0.013	0.013	NUM
fsr-3489	177	11	0.430	0.430	NUM
fsr-3489	177	12	0.300	0.300	NUM
fsr-3489	177	13	0.222	0.222	NUM
fsr-3489	177	14	0	0	NUM
fsr-3489	177	15	%	%	NOUN
fsr-3489	177	16	5	5	NUM
fsr-3489	177	17	%	%	NOUN
fsr-3489	177	18	10	10	NUM
fsr-3489	177	19	%	%	NOUN
fsr-3489	177	20	15	15	NUM
fsr-3489	177	21	%	%	NOUN
fsr-3489	177	22	20	20	NUM
fsr-3489	177	23	%	%	NOUN
fsr-3489	178	1	b	b	NOUN
fsr-3489	178	2	e	e	NOUN
fsr-3489	178	3	f	f	X
fsr-3489	179	1	i	i	PRON
fsr-3489	179	2	k	k	PROPN
fsr-3489	180	1	p	p	X
fsr-3489	180	2	u	u	X
fsr-3489	180	3	v	v	ADP
fsr-3489	180	4	y	y	PROPN
fsr-3489	180	5	mf	mf	X
fsr-3489	180	6	etf	etf	NOUN
fsr-3489	180	7	spy	spy	NOUN
fsr-3489	180	8	fig	fig	NOUN
fsr-3489	180	9	.	.	PUNCT
fsr-3489	181	1	2	2	X
fsr-3489	181	2	.	.	X
fsr-3489	181	3	arithmetic	arithmetic	ADJ
fsr-3489	181	4	mean	mean	NOUN
fsr-3489	181	5	of	of	ADP
fsr-3489	181	6	annual	annual	ADJ
fsr-3489	181	7	holding	hold	VERB
fsr-3489	181	8	period	period	NOUN
fsr-3489	181	9	return	return	NOUN
fsr-3489	181	10	.	.	PUNCT
fsr-3489	182	1	b	b	NOUN
fsr-3489	182	2	represents	represent	VERB
fsr-3489	182	3	the	the	DET
fsr-3489	182	4	materials	material	NOUN
fsr-3489	182	5	sector	sector	NOUN
fsr-3489	182	6	;	;	PUNCT
fsr-3489	182	7	e	e	PRON
fsr-3489	182	8	represents	represent	VERB
fsr-3489	182	9	the	the	DET
fsr-3489	182	10	energy	energy	NOUN
fsr-3489	182	11	sector	sector	NOUN
fsr-3489	182	12	;	;	PUNCT
fsr-3489	182	13	f	f	PROPN
fsr-3489	182	14	represents	represent	VERB
fsr-3489	182	15	the	the	DET
fsr-3489	182	16	financial	financial	ADJ
fsr-3489	182	17	sector	sector	NOUN
fsr-3489	182	18	;	;	PUNCT
fsr-3489	182	19	i	i	PRON
fsr-3489	182	20	represents	represent	VERB
fsr-3489	182	21	the	the	DET
fsr-3489	182	22	industrials	industrial	NOUN
fsr-3489	182	23	sector	sector	NOUN
fsr-3489	182	24	;	;	PUNCT
fsr-3489	182	25	k	k	X
fsr-3489	182	26	represents	represent	VERB
fsr-3489	182	27	the	the	DET
fsr-3489	182	28	technology	technology	NOUN
fsr-3489	182	29	sector	sector	NOUN
fsr-3489	182	30	;	;	PUNCT
fsr-3489	182	31	p	p	NOUN
fsr-3489	182	32	represents	represent	VERB
fsr-3489	182	33	the	the	DET
fsr-3489	182	34	consumer	consumer	NOUN
fsr-3489	182	35	staples	staple	NOUN
fsr-3489	182	36	sector	sector	NOUN
fsr-3489	182	37	;	;	PUNCT
fsr-3489	182	38	u	u	PRON
fsr-3489	182	39	represents	represent	VERB
fsr-3489	182	40	the	the	DET
fsr-3489	182	41	utilities	utility	NOUN
fsr-3489	182	42	sector	sector	NOUN
fsr-3489	182	43	;	;	PUNCT
fsr-3489	182	44	v	v	X
fsr-3489	182	45	represents	represent	VERB
fsr-3489	182	46	the	the	DET
fsr-3489	182	47	healthcare	healthcare	NOUN
fsr-3489	182	48	sector	sector	NOUN
fsr-3489	182	49	;	;	PUNCT
fsr-3489	182	50	y	y	PRON
fsr-3489	182	51	represents	represent	VERB
fsr-3489	182	52	the	the	DET
fsr-3489	182	53	consumer	consumer	NOUN
fsr-3489	182	54	discretionary	discretionary	ADJ
fsr-3489	182	55	sector	sector	NOUN
fsr-3489	182	56	;	;	PUNCT
fsr-3489	182	57	and	and	CCONJ
fsr-3489	182	58	spy	spy	NOUN
fsr-3489	182	59	represents	represent	VERB
fsr-3489	182	60	the	the	DET
fsr-3489	182	61	spdr	spdr	NOUN
fsr-3489	182	62	s&p	s&p	PROPN
fsr-3489	182	63	500	500	NUM
fsr-3489	182	64	trust	trust	NOUN
fsr-3489	182	65	.	.	PUNCT
fsr-3489	183	1	256	256	NUM
fsr-3489	183	2	c.y	c.y	PROPN
fsr-3489	183	3	.	.	PROPN
fsr-3489	183	4	lin	lin	PROPN
fsr-3489	183	5	/	/	SYM
fsr-3489	183	6	financial	financial	ADJ
fsr-3489	183	7	services	service	NOUN
fsr-3489	183	8	review	review	VERB
fsr-3489	183	9	23	23	NUM
fsr-3489	183	10	(	(	PUNCT
fsr-3489	183	11	2014	2014	NUM
fsr-3489	183	12	)	)	PUNCT
fsr-3489	184	1	249–271	249–271	NUM
fsr-3489	184	2	3.3	3.3	NUM
fsr-3489	184	3	.	.	PUNCT
fsr-3489	185	1	decomposition	decomposition	NOUN
fsr-3489	185	2	of	of	ADP
fsr-3489	185	3	12	12	NUM
fsr-3489	185	4	-	-	PUNCT
fsr-3489	185	5	year	year	NOUN
fsr-3489	185	6	holding	holding	NOUN
fsr-3489	185	7	period	period	NOUN
fsr-3489	185	8	return	return	VERB
fsr-3489	185	9	what	what	DET
fsr-3489	185	10	portion	portion	NOUN
fsr-3489	185	11	of	of	ADP
fsr-3489	185	12	that	that	DET
fsr-3489	185	13	12	12	NUM
fsr-3489	185	14	-	-	PUNCT
fsr-3489	185	15	year	year	NOUN
fsr-3489	185	16	holding	holding	NOUN
fsr-3489	185	17	period	period	NOUN
fsr-3489	185	18	return	return	NOUN
fsr-3489	185	19	is	be	AUX
fsr-3489	185	20	contributed	contribute	VERB
fsr-3489	185	21	by	by	ADP
fsr-3489	185	22	capital	capital	NOUN
fsr-3489	185	23	gains	gain	NOUN
fsr-3489	185	24	?	?	PUNCT
fsr-3489	186	1	what	what	DET
fsr-3489	186	2	portion	portion	NOUN
fsr-3489	186	3	is	be	AUX
fsr-3489	186	4	contributed	contribute	VERB
fsr-3489	186	5	by	by	ADP
fsr-3489	186	6	dividend	dividend	NOUN
fsr-3489	186	7	yield	yield	NOUN
fsr-3489	186	8	(	(	PUNCT
fsr-3489	186	9	regular	regular	ADJ
fsr-3489	186	10	dividend	dividend	NOUN
fsr-3489	186	11	and	and	CCONJ
fsr-3489	186	12	special	special	ADJ
fsr-3489	186	13	cash	cash	NOUN
fsr-3489	186	14	distribution	distribution	NOUN
fsr-3489	186	15	)	)	PUNCT
fsr-3489	186	16	?	?	PUNCT
fsr-3489	187	1	there	there	PRON
fsr-3489	187	2	are	be	VERB
fsr-3489	187	3	four	four	NUM
fsr-3489	187	4	mfs	mfs	NOUN
fsr-3489	187	5	(	(	PUNCT
fsr-3489	187	6	financial	financial	ADJ
fsr-3489	187	7	,	,	PUNCT
fsr-3489	187	8	utilities	utility	NOUN
fsr-3489	187	9	,	,	PUNCT
fsr-3489	187	10	healthcare	healthcare	PROPN
fsr-3489	187	11	,	,	PUNCT
fsr-3489	187	12	and	and	CCONJ
fsr-3489	187	13	consumer	consumer	NOUN
fsr-3489	187	14	discretionary	discretionary	NOUN
fsr-3489	187	15	)	)	PUNCT
fsr-3489	187	16	and	and	CCONJ
fsr-3489	187	17	two	two	NUM
fsr-3489	187	18	etfs	etfs	NOUN
fsr-3489	187	19	(	(	PUNCT
fsr-3489	187	20	financial	financial	ADJ
fsr-3489	187	21	and	and	CCONJ
fsr-3489	187	22	technology	technology	NOUN
fsr-3489	187	23	)	)	PUNCT
fsr-3489	187	24	have	have	AUX
fsr-3489	187	25	negative	negative	ADJ
fsr-3489	187	26	capital	capital	NOUN
fsr-3489	187	27	gains	gain	NOUN
fsr-3489	187	28	during	during	ADP
fsr-3489	187	29	the	the	DET
fsr-3489	187	30	period	period	NOUN
fsr-3489	187	31	.	.	PUNCT
fsr-3489	188	1	the	the	DET
fsr-3489	188	2	spy	spy	NOUN
fsr-3489	188	3	has	have	VERB
fsr-3489	188	4	a	a	DET
fsr-3489	188	5	capital	capital	NOUN
fsr-3489	188	6	gains	gain	NOUN
fsr-3489	188	7	yield	yield	NOUN
fsr-3489	188	8	of	of	ADP
fsr-3489	188	9	2.0	2.0	NUM
fsr-3489	188	10	%	%	NOUN
fsr-3489	188	11	.	.	PUNCT
fsr-3489	189	1	actually	actually	ADV
fsr-3489	189	2	,	,	PUNCT
fsr-3489	189	3	only	only	ADV
fsr-3489	189	4	three	three	NUM
fsr-3489	189	5	mfs	mfs	NOUN
fsr-3489	189	6	(	(	PUNCT
fsr-3489	189	7	materials	material	NOUN
fsr-3489	189	8	,	,	PUNCT
fsr-3489	189	9	energy	energy	NOUN
fsr-3489	189	10	,	,	PUNCT
fsr-3489	189	11	and	and	CCONJ
fsr-3489	189	12	industrials	industrial	NOUN
fsr-3489	189	13	)	)	PUNCT
fsr-3489	189	14	have	have	VERB
fsr-3489	189	15	a	a	DET
fsr-3489	189	16	higher	high	ADJ
fsr-3489	189	17	capital	capital	NOUN
fsr-3489	189	18	gains	gain	NOUN
fsr-3489	189	19	yield	yield	NOUN
fsr-3489	189	20	than	than	ADP
fsr-3489	189	21	dividend	dividend	NOUN
fsr-3489	189	22	yield	yield	NOUN
fsr-3489	189	23	.	.	PUNCT
fsr-3489	190	1	that	that	DET
fsr-3489	190	2	number	number	NOUN
fsr-3489	190	3	is	be	AUX
fsr-3489	190	4	five	five	NUM
fsr-3489	190	5	for	for	ADP
fsr-3489	190	6	etfs	etfs	PROPN
fsr-3489	190	7	(	(	PUNCT
fsr-3489	190	8	materials	material	NOUN
fsr-3489	190	9	,	,	PUNCT
fsr-3489	190	10	energy	energy	NOUN
fsr-3489	190	11	,	,	PUNCT
fsr-3489	190	12	industrials	industrial	NOUN
fsr-3489	190	13	,	,	PUNCT
fsr-3489	190	14	healthcare	healthcare	PROPN
fsr-3489	190	15	,	,	PUNCT
fsr-3489	190	16	and	and	CCONJ
fsr-3489	190	17	consumer	consumer	NOUN
fsr-3489	190	18	discretionary	discretionary	NOUN
fsr-3489	190	19	)	)	PUNCT
fsr-3489	190	20	.	.	PUNCT
fsr-3489	191	1	the	the	DET
fsr-3489	191	2	spy	spy	NOUN
fsr-3489	191	3	has	have	VERB
fsr-3489	191	4	a	a	DET
fsr-3489	191	5	dividend	dividend	NOUN
fsr-3489	191	6	yield	yield	NOUN
fsr-3489	191	7	of	of	ADP
fsr-3489	191	8	18.8	18.8	NUM
fsr-3489	191	9	%	%	NOUN
fsr-3489	191	10	.	.	PUNCT
fsr-3489	192	1	with	with	ADP
fsr-3489	192	2	2.0	2.0	NUM
fsr-3489	192	3	%	%	NOUN
fsr-3489	192	4	capital	capital	NOUN
fsr-3489	192	5	gains	gain	NOUN
fsr-3489	192	6	yield	yield	VERB
fsr-3489	192	7	from	from	ADP
fsr-3489	192	8	spy	spy	NOUN
fsr-3489	192	9	,	,	PUNCT
fsr-3489	192	10	the	the	DET
fsr-3489	192	11	12	12	NUM
fsr-3489	192	12	-	-	PUNCT
fsr-3489	192	13	year	year	NOUN
fsr-3489	192	14	sample	sample	NOUN
fsr-3489	192	15	period	period	NOUN
fsr-3489	192	16	is	be	AUX
fsr-3489	192	17	pretty	pretty	ADV
fsr-3489	192	18	flat	flat	ADJ
fsr-3489	192	19	.	.	PUNCT
fsr-3489	193	1	the	the	DET
fsr-3489	193	2	s&p	s&p	PROPN
fsr-3489	193	3	500	500	NUM
fsr-3489	193	4	price	price	NOUN
fsr-3489	193	5	index	index	NOUN
fsr-3489	193	6	has	have	VERB
fsr-3489	193	7	two	two	NUM
fsr-3489	193	8	peaks	peak	NOUN
fsr-3489	193	9	,	,	PUNCT
fsr-3489	193	10	1552.87	1552.87	NUM
fsr-3489	193	11	on	on	ADP
fsr-3489	193	12	march	march	PROPN
fsr-3489	193	13	24	24	NUM
fsr-3489	193	14	,	,	PUNCT
fsr-3489	193	15	2000	2000	NUM
fsr-3489	193	16	and	and	CCONJ
fsr-3489	193	17	1576.09	1576.09	NUM
fsr-3489	193	18	on	on	ADP
fsr-3489	193	19	october	october	PROPN
fsr-3489	193	20	17	17	NUM
fsr-3489	193	21	,	,	PUNCT
fsr-3489	193	22	2007	2007	NUM
fsr-3489	193	23	,	,	PUNCT
fsr-3489	193	24	and	and	CCONJ
fsr-3489	193	25	two	two	NUM
fsr-3489	193	26	troughs	trough	NOUN
fsr-3489	193	27	,	,	PUNCT
fsr-3489	193	28	768.63	768.63	NUM
fsr-3489	193	29	on	on	ADP
fsr-3489	193	30	october	october	PROPN
fsr-3489	193	31	10	10	NUM
fsr-3489	193	32	,	,	PUNCT
fsr-3489	193	33	2002	2002	NUM
fsr-3489	193	34	and	and	CCONJ
fsr-3489	193	35	666.79	666.79	NUM
fsr-3489	193	36	on	on	ADP
fsr-3489	193	37	march	march	PROPN
fsr-3489	193	38	6	6	NUM
fsr-3489	193	39	,	,	PUNCT
fsr-3489	193	40	2009	2009	NUM
fsr-3489	193	41	.	.	PUNCT
fsr-3489	194	1	this	this	DET
fsr-3489	194	2	range	range	NOUN
fsr-3489	194	3	provides	provide	VERB
fsr-3489	194	4	a	a	DET
fsr-3489	194	5	good	good	ADJ
fsr-3489	194	6	testing	testing	NOUN
fsr-3489	194	7	field	field	NOUN
fsr-3489	194	8	for	for	ADP
fsr-3489	194	9	performance	performance	NOUN
fsr-3489	194	10	analysis	analysis	NOUN
fsr-3489	194	11	.	.	PUNCT
fsr-3489	195	1	after	after	ADP
fsr-3489	195	2	examining	examine	VERB
fsr-3489	195	3	12	12	NUM
fsr-3489	195	4	-	-	PUNCT
fsr-3489	195	5	year	year	NOUN
fsr-3489	195	6	returns	return	NOUN
fsr-3489	195	7	and	and	CCONJ
fsr-3489	195	8	average	average	ADJ
fsr-3489	195	9	annual	annual	ADJ
fsr-3489	195	10	returns	return	NOUN
fsr-3489	195	11	,	,	PUNCT
fsr-3489	195	12	i	i	PRON
fsr-3489	195	13	find	find	VERB
fsr-3489	195	14	that	that	SCONJ
fsr-3489	195	15	most	most	ADJ
fsr-3489	195	16	sector	sector	NOUN
fsr-3489	195	17	mfs	mfs	VERB
fsr-3489	195	18	outperform	outperform	NOUN
fsr-3489	195	19	both	both	CCONJ
fsr-3489	195	20	their	their	PRON
fsr-3489	195	21	etf	etf	NOUN
fsr-3489	195	22	peers	peer	NOUN
fsr-3489	195	23	and	and	CCONJ
fsr-3489	195	24	spy	spy	NOUN
fsr-3489	195	25	for	for	ADP
fsr-3489	195	26	most	most	ADJ
fsr-3489	195	27	years	year	NOUN
fsr-3489	195	28	during	during	ADP
fsr-3489	195	29	the	the	DET
fsr-3489	195	30	1999–2010	1999–2010	NUM
fsr-3489	195	31	sample	sample	NOUN
fsr-3489	195	32	period	period	NOUN
fsr-3489	195	33	.	.	PUNCT
fsr-3489	196	1	the	the	DET
fsr-3489	196	2	exceptions	exception	NOUN
fsr-3489	196	3	are	be	AUX
fsr-3489	196	4	the	the	DET
fsr-3489	196	5	utilities	utility	NOUN
fsr-3489	196	6	and	and	CCONJ
fsr-3489	196	7	consumer	consumer	NOUN
fsr-3489	196	8	discretionary	discretionary	ADJ
fsr-3489	196	9	mf	mf	NOUN
fsr-3489	196	10	.	.	PROPN
fsr-3489	196	11	4	4	NUM
fsr-3489	196	12	.	.	X
fsr-3489	197	1	a	a	DET
fsr-3489	197	2	closer	close	ADJ
fsr-3489	197	3	look	look	NOUN
fsr-3489	197	4	at	at	ADP
fsr-3489	197	5	equity	equity	NOUN
fsr-3489	197	6	sector	sector	NOUN
fsr-3489	197	7	funds	fund	NOUN
fsr-3489	197	8	:	:	PUNCT
fsr-3489	197	9	risk	risk	NOUN
fsr-3489	197	10	adjusted	adjust	VERB
fsr-3489	197	11	returns	return	NOUN
fsr-3489	197	12	before	before	ADP
fsr-3489	197	13	drawing	draw	VERB
fsr-3489	197	14	a	a	DET
fsr-3489	197	15	conclusion	conclusion	NOUN
fsr-3489	197	16	on	on	ADP
fsr-3489	197	17	sector	sector	NOUN
fsr-3489	197	18	mfs	mfs	NOUN
fsr-3489	197	19	’	'	PUNCT
fsr-3489	197	20	performance	performance	NOUN
fsr-3489	197	21	,	,	PUNCT
fsr-3489	197	22	one	one	PRON
fsr-3489	197	23	must	must	AUX
fsr-3489	197	24	investigate	investigate	VERB
fsr-3489	197	25	the	the	DET
fsr-3489	197	26	risk	risk	NOUN
fsr-3489	197	27	dimension	dimension	NOUN
fsr-3489	197	28	of	of	ADP
fsr-3489	197	29	the	the	DET
fsr-3489	197	30	returns	return	NOUN
fsr-3489	197	31	.	.	PUNCT
fsr-3489	198	1	here	here	ADV
fsr-3489	198	2	,	,	PUNCT
fsr-3489	198	3	i	i	PRON
fsr-3489	198	4	look	look	VERB
fsr-3489	198	5	at	at	ADP
fsr-3489	198	6	risk	risk	NOUN
fsr-3489	198	7	adjusted	adjust	VERB
fsr-3489	198	8	returns	return	NOUN
fsr-3489	198	9	that	that	PRON
fsr-3489	198	10	incorporate	incorporate	VERB
fsr-3489	198	11	both	both	DET
fsr-3489	198	12	total	total	ADJ
fsr-3489	198	13	risk	risk	NOUN
fsr-3489	198	14	and	and	CCONJ
fsr-3489	198	15	systematic	systematic	ADJ
fsr-3489	198	16	risk	risk	NOUN
fsr-3489	198	17	based	base	VERB
fsr-3489	198	18	on	on	ADP
fsr-3489	198	19	monthly	monthly	ADJ
fsr-3489	198	20	holding	hold	VERB
fsr-3489	198	21	period	period	NOUN
fsr-3489	198	22	returns	return	NOUN
fsr-3489	198	23	.	.	PUNCT
fsr-3489	199	1	table	table	NOUN
fsr-3489	199	2	3	3	NUM
fsr-3489	199	3	summarizes	summarize	NOUN
fsr-3489	199	4	statistics	statistic	NOUN
fsr-3489	199	5	of	of	ADP
fsr-3489	199	6	both	both	DET
fsr-3489	199	7	monthly	monthly	ADJ
fsr-3489	199	8	holding	holding	NOUN
fsr-3489	199	9	period	period	NOUN
fsr-3489	199	10	returns	return	NOUN
fsr-3489	199	11	and	and	CCONJ
fsr-3489	199	12	excess	excess	ADJ
fsr-3489	199	13	returns	return	NOUN
fsr-3489	199	14	,	,	PUNCT
fsr-3489	199	15	which	which	PRON
fsr-3489	199	16	are	be	AUX
fsr-3489	199	17	calculated	calculate	VERB
fsr-3489	199	18	as	as	ADP
fsr-3489	199	19	monthly	monthly	ADJ
fsr-3489	199	20	holding	holding	NOUN
fsr-3489	199	21	period	period	NOUN
fsr-3489	199	22	return	return	VERB
fsr-3489	199	23	minus	minus	CCONJ
fsr-3489	199	24	monthly	monthly	ADJ
fsr-3489	199	25	1	1	NUM
fsr-3489	199	26	-	-	PUNCT
fsr-3489	199	27	month	month	NOUN
fsr-3489	199	28	t	t	PROPN
fsr-3489	199	29	-	-	PUNCT
fsr-3489	199	30	bill	bill	NOUN
fsr-3489	199	31	rate	rate	NOUN
fsr-3489	199	32	.	.	PUNCT
fsr-3489	200	1	panel	panel	NOUN
fsr-3489	200	2	a	a	DET
fsr-3489	200	3	shows	show	VERB
fsr-3489	200	4	the	the	DET
fsr-3489	200	5	maximum	maximum	ADJ
fsr-3489	200	6	monthly	monthly	ADJ
fsr-3489	200	7	holding	hold	VERB
fsr-3489	200	8	period	period	NOUN
fsr-3489	200	9	return	return	NOUN
fsr-3489	200	10	is	be	AUX
fsr-3489	200	11	31.446	31.446	NUM
fsr-3489	200	12	%	%	NOUN
fsr-3489	200	13	(	(	PUNCT
fsr-3489	200	14	technology	technology	NOUN
fsr-3489	200	15	mf	mf	PROPN
fsr-3489	200	16	,	,	PUNCT
fsr-3489	200	17	february	february	PROPN
fsr-3489	200	18	2000	2000	NUM
fsr-3489	200	19	)	)	PUNCT
fsr-3489	200	20	and	and	CCONJ
fsr-3489	200	21	the	the	DET
fsr-3489	200	22	minimum	minimum	ADJ
fsr-3489	200	23	monthly	monthly	ADJ
fsr-3489	200	24	return	return	NOUN
fsr-3489	200	25	is	be	AUX
fsr-3489	200	26	"	"	PUNCT
fsr-3489	200	27	28.379	28.379	NUM
fsr-3489	200	28	%	%	NOUN
fsr-3489	200	29	(	(	PUNCT
fsr-3489	200	30	technology	technology	NOUN
fsr-3489	200	31	mf	mf	PROPN
fsr-3489	200	32	,	,	PUNCT
fsr-3489	200	33	february	february	PROPN
fsr-3489	200	34	2001	2001	NUM
fsr-3489	200	35	)	)	PUNCT
fsr-3489	200	36	.	.	PUNCT
fsr-3489	201	1	because	because	SCONJ
fsr-3489	201	2	sector	sector	NOUN
fsr-3489	201	3	funds	fund	NOUN
fsr-3489	201	4	focus	focus	VERB
fsr-3489	201	5	on	on	ADP
fsr-3489	201	6	specific	specific	ADJ
fsr-3489	201	7	investment	investment	NOUN
fsr-3489	201	8	areas	area	NOUN
fsr-3489	201	9	,	,	PUNCT
fsr-3489	201	10	it	it	PRON
fsr-3489	201	11	is	be	AUX
fsr-3489	201	12	expected	expect	VERB
fsr-3489	201	13	that	that	SCONJ
fsr-3489	201	14	both	both	DET
fsr-3489	201	15	sector	sector	NOUN
fsr-3489	201	16	mfs	mfs	NOUN
fsr-3489	201	17	and	and	CCONJ
fsr-3489	201	18	etfs	etfs	PROPN
fsr-3489	201	19	have	have	VERB
fsr-3489	201	20	a	a	DET
fsr-3489	201	21	higher	high	ADJ
fsr-3489	201	22	volatility	volatility	NOUN
fsr-3489	201	23	when	when	SCONJ
fsr-3489	201	24	compared	compare	VERB
fsr-3489	201	25	to	to	ADP
fsr-3489	201	26	a	a	DET
fsr-3489	201	27	broader	broad	ADJ
fsr-3489	201	28	market	market	NOUN
fsr-3489	201	29	benchmark	benchmark	NOUN
fsr-3489	201	30	.	.	PUNCT
fsr-3489	202	1	that	that	DET
fsr-3489	202	2	table	table	NOUN
fsr-3489	202	3	3	3	NUM
fsr-3489	202	4	summary	summary	NOUN
fsr-3489	202	5	statistics	statistic	NOUN
fsr-3489	202	6	of	of	ADP
fsr-3489	202	7	monthly	monthly	ADJ
fsr-3489	202	8	return	return	NOUN
fsr-3489	202	9	(	(	PUNCT
fsr-3489	202	10	%	%	INTJ
fsr-3489	202	11	)	)	PUNCT
fsr-3489	202	12	maximum	maximum	ADJ
fsr-3489	202	13	minimum	minimum	ADJ
fsr-3489	202	14	mean	mean	NOUN
fsr-3489	202	15	median	median	PROPN
fsr-3489	202	16	sd	sd	PROPN
fsr-3489	202	17	skewness	skewness	NOUN
fsr-3489	202	18	kurtosis	kurtosis	NOUN
fsr-3489	202	19	n	n	PRON
fsr-3489	202	20	sharpe	sharpe	PROPN
fsr-3489	202	21	ratio	ratio	PROPN
fsr-3489	202	22	a	a	DET
fsr-3489	202	23	:	:	PUNCT
fsr-3489	202	24	raw	raw	ADJ
fsr-3489	202	25	return	return	NOUN
fsr-3489	202	26	mf	mf	VERB
fsr-3489	202	27	31.446	31.446	PRON
fsr-3489	202	28	"	"	PUNCT
fsr-3489	202	29	28.379	28.379	NUM
fsr-3489	202	30	0.695	0.695	NUM
fsr-3489	202	31	1.014	1.014	NUM
fsr-3489	202	32	6.316	6.316	NUM
fsr-3489	202	33	"	"	PUNCT
fsr-3489	202	34	0.238	0.238	NUM
fsr-3489	202	35	2.738	2.738	NUM
fsr-3489	202	36	1289	1289	NUM
fsr-3489	202	37	etf	etf	NOUN
fsr-3489	202	38	24.768	24.768	NUM
fsr-3489	202	39	"	"	PUNCT
fsr-3489	202	40	26.198	26.198	NUM
fsr-3489	202	41	0.468	0.468	NUM
fsr-3489	202	42	0.796	0.796	NUM
fsr-3489	202	43	5.982	5.982	NUM
fsr-3489	202	44	"	"	PUNCT
fsr-3489	202	45	0.255	0.255	NUM
fsr-3489	202	46	1.762	1.762	NUM
fsr-3489	202	47	1296	1296	NUM
fsr-3489	202	48	spy	spy	NOUN
fsr-3489	202	49	9.935	9.935	NUM
fsr-3489	202	50	"	"	PUNCT
fsr-3489	202	51	16.519	16.519	NUM
fsr-3489	202	52	0.260	0.260	NUM
fsr-3489	202	53	0.741	0.741	NUM
fsr-3489	202	54	4.652	4.652	NUM
fsr-3489	202	55	"	"	PUNCT
fsr-3489	202	56	0.485	0.485	NUM
fsr-3489	202	57	0.594	0.594	NUM
fsr-3489	202	58	144	144	NUM
fsr-3489	202	59	overall	overall	ADJ
fsr-3489	202	60	31.446	31.446	PRON
fsr-3489	202	61	"	"	PUNCT
fsr-3489	202	62	28.379	28.379	NUM
fsr-3489	202	63	0.564	0.564	NUM
fsr-3489	202	64	0.897	0.897	NUM
fsr-3489	202	65	6.081	6.081	NUM
fsr-3489	202	66	"	"	PUNCT
fsr-3489	202	67	0.246	0.246	NUM
fsr-3489	202	68	2.326	2.326	NUM
fsr-3489	202	69	2729	2729	NUM
fsr-3489	202	70	b	b	NOUN
fsr-3489	202	71	:	:	PUNCT
fsr-3489	202	72	excess	excess	ADJ
fsr-3489	202	73	return	return	NOUN
fsr-3489	202	74	mf	mf	VERB
fsr-3489	202	75	31.016	31.016	NUM
fsr-3489	202	76	"	"	PUNCT
fsr-3489	202	77	28.769	28.769	NUM
fsr-3489	202	78	0.474	0.474	NUM
fsr-3489	202	79	0.759	0.759	NUM
fsr-3489	202	80	6.321	6.321	NUM
fsr-3489	202	81	"	"	PUNCT
fsr-3489	202	82	0.229	0.229	NUM
fsr-3489	202	83	2.696	2.696	NUM
fsr-3489	202	84	1289	1289	NUM
fsr-3489	202	85	0.075	0.075	NUM
fsr-3489	202	86	etf	etf	NOUN
fsr-3489	202	87	24.628	24.628	NUM
fsr-3489	202	88	"	"	PUNCT
fsr-3489	202	89	26.198	26.198	NUM
fsr-3489	202	90	0.245	0.245	NUM
fsr-3489	202	91	0.533	0.533	NUM
fsr-3489	202	92	5.985	5.985	NUM
fsr-3489	202	93	"	"	PUNCT
fsr-3489	202	94	0.246	0.246	NUM
fsr-3489	202	95	1.730	1.730	NUM
fsr-3489	202	96	1296	1296	NUM
fsr-3489	202	97	0.041	0.041	NUM
fsr-3489	202	98	spy	spy	NOUN
fsr-3489	202	99	9.925	9.925	NUM
fsr-3489	202	100	"	"	PUNCT
fsr-3489	202	101	16.599	16.599	NUM
fsr-3489	202	102	0.038	0.038	NUM
fsr-3489	202	103	0.526	0.526	NUM
fsr-3489	202	104	4.660	4.660	NUM
fsr-3489	202	105	"	"	PUNCT
fsr-3489	202	106	0.454	0.454	NUM
fsr-3489	202	107	0.535	0.535	NUM
fsr-3489	202	108	144	144	NUM
fsr-3489	202	109	0.008	0.008	NUM
fsr-3489	202	110	overall	overall	ADJ
fsr-3489	202	111	31.016	31.016	NUM
fsr-3489	202	112	"	"	PUNCT
fsr-3489	202	113	28.769	28.769	NUM
fsr-3489	202	114	0.342	0.342	NUM
fsr-3489	202	115	0.652	0.652	NUM
fsr-3489	202	116	6.085	6.085	NUM
fsr-3489	202	117	"	"	PUNCT
fsr-3489	202	118	0.236	0.236	NUM
fsr-3489	202	119	2.288	2.288	NUM
fsr-3489	202	120	2729	2729	NUM
fsr-3489	202	121	0.056	0.056	NUM
fsr-3489	202	122	257c.y	257c.y	NUM
fsr-3489	202	123	.	.	PUNCT
fsr-3489	203	1	lin	lin	PROPN
fsr-3489	203	2	/	/	SYM
fsr-3489	203	3	financial	financial	ADJ
fsr-3489	203	4	services	service	NOUN
fsr-3489	203	5	review	review	VERB
fsr-3489	203	6	23	23	NUM
fsr-3489	203	7	(	(	PUNCT
fsr-3489	203	8	2014	2014	NUM
fsr-3489	203	9	)	)	PUNCT
fsr-3489	204	1	249–271	249–271	NUM
fsr-3489	204	2	is	be	AUX
fsr-3489	204	3	true	true	ADJ
fsr-3489	204	4	as	as	SCONJ
fsr-3489	204	5	shown	show	VERB
fsr-3489	204	6	in	in	ADP
fsr-3489	204	7	table	table	NOUN
fsr-3489	204	8	3	3	NUM
fsr-3489	204	9	.	.	PUNCT
fsr-3489	205	1	the	the	DET
fsr-3489	205	2	sector	sector	NOUN
fsr-3489	205	3	mfs	mfs	NOUN
fsr-3489	205	4	have	have	VERB
fsr-3489	205	5	the	the	DET
fsr-3489	205	6	widest	wide	ADJ
fsr-3489	205	7	span	span	NOUN
fsr-3489	205	8	of	of	ADP
fsr-3489	205	9	monthly	monthly	ADJ
fsr-3489	205	10	returns	return	NOUN
fsr-3489	205	11	(	(	PUNCT
fsr-3489	205	12	59.825	59.825	NUM
fsr-3489	205	13	%	%	NOUN
fsr-3489	205	14	)	)	PUNCT
fsr-3489	205	15	,	,	PUNCT
fsr-3489	205	16	followed	follow	VERB
fsr-3489	205	17	by	by	ADP
fsr-3489	205	18	sector	sector	NOUN
fsr-3489	205	19	etfs	etfs	NOUN
fsr-3489	205	20	(	(	PUNCT
fsr-3489	205	21	50.966	50.966	NUM
fsr-3489	205	22	%	%	NOUN
fsr-3489	205	23	)	)	PUNCT
fsr-3489	205	24	;	;	PUNCT
fsr-3489	205	25	both	both	PRON
fsr-3489	205	26	are	be	AUX
fsr-3489	205	27	much	much	ADV
fsr-3489	205	28	higher	high	ADJ
fsr-3489	205	29	than	than	ADP
fsr-3489	205	30	that	that	PRON
fsr-3489	205	31	of	of	ADP
fsr-3489	205	32	spy	spy	NOUN
fsr-3489	205	33	(	(	PUNCT
fsr-3489	205	34	26.454	26.454	NUM
fsr-3489	205	35	%	%	NOUN
fsr-3489	205	36	)	)	PUNCT
fsr-3489	205	37	.	.	PUNCT
fsr-3489	206	1	the	the	DET
fsr-3489	206	2	standard	standard	ADJ
fsr-3489	206	3	deviation	deviation	NOUN
fsr-3489	206	4	for	for	ADP
fsr-3489	206	5	sector	sector	NOUN
fsr-3489	206	6	mf	mf	NOUN
fsr-3489	206	7	,	,	PUNCT
fsr-3489	206	8	etf	etf	NOUN
fsr-3489	206	9	,	,	PUNCT
fsr-3489	206	10	and	and	CCONJ
fsr-3489	206	11	spy	spy	NOUN
fsr-3489	206	12	is	be	AUX
fsr-3489	206	13	6.316	6.316	NUM
fsr-3489	206	14	%	%	NOUN
fsr-3489	206	15	,	,	PUNCT
fsr-3489	206	16	5.982	5.982	NUM
fsr-3489	206	17	%	%	NOUN
fsr-3489	206	18	,	,	PUNCT
fsr-3489	206	19	and	and	CCONJ
fsr-3489	206	20	4.652	4.652	NUM
fsr-3489	206	21	%	%	NOUN
fsr-3489	206	22	,	,	PUNCT
fsr-3489	206	23	respectively	respectively	ADV
fsr-3489	206	24	.	.	PUNCT
fsr-3489	207	1	all	all	DET
fsr-3489	207	2	fund	fund	NOUN
fsr-3489	207	3	returns	return	NOUN
fsr-3489	207	4	are	be	AUX
fsr-3489	207	5	negatively	negatively	ADV
fsr-3489	207	6	skewed	skewed	ADJ
fsr-3489	207	7	.	.	PUNCT
fsr-3489	208	1	these	these	DET
fsr-3489	208	2	characteristics	characteristic	NOUN
fsr-3489	208	3	are	be	AUX
fsr-3489	208	4	similar	similar	ADJ
fsr-3489	208	5	in	in	ADP
fsr-3489	208	6	excess	excess	ADJ
fsr-3489	208	7	returns	return	NOUN
fsr-3489	208	8	as	as	SCONJ
fsr-3489	208	9	presented	present	VERB
fsr-3489	208	10	in	in	ADP
fsr-3489	208	11	panel	panel	NOUN
fsr-3489	208	12	b.	b.	PROPN
fsr-3489	209	1	the	the	DET
fsr-3489	209	2	group	group	PROPN
fsr-3489	209	3	sharpe	sharpe	PROPN
fsr-3489	209	4	ratio	ratio	PROPN
fsr-3489	209	5	is	be	AUX
fsr-3489	209	6	0.075	0.075	NUM
fsr-3489	209	7	,	,	PUNCT
fsr-3489	209	8	0.041	0.041	NUM
fsr-3489	209	9	,	,	PUNCT
fsr-3489	209	10	0.008	0.008	NUM
fsr-3489	209	11	,	,	PUNCT
fsr-3489	209	12	and	and	CCONJ
fsr-3489	209	13	0.056	0.056	NUM
fsr-3489	209	14	for	for	ADP
fsr-3489	209	15	the	the	DET
fsr-3489	209	16	mfs	mfs	PROPN
fsr-3489	209	17	,	,	PUNCT
fsr-3489	209	18	etfs	etfs	PROPN
fsr-3489	209	19	,	,	PUNCT
fsr-3489	209	20	spy	spy	NOUN
fsr-3489	209	21	,	,	PUNCT
fsr-3489	209	22	and	and	CCONJ
fsr-3489	209	23	overall	overall	ADJ
fsr-3489	209	24	funds	fund	NOUN
fsr-3489	209	25	,	,	PUNCT
fsr-3489	209	26	respectively	respectively	ADV
fsr-3489	209	27	.	.	PUNCT
fsr-3489	210	1	the	the	DET
fsr-3489	210	2	sector	sector	NOUN
fsr-3489	210	3	mf	mf	PRON
fsr-3489	210	4	group	group	NOUN
fsr-3489	210	5	has	have	VERB
fsr-3489	210	6	the	the	DET
fsr-3489	210	7	highest	high	ADJ
fsr-3489	210	8	sharpe	sharpe	NOUN
fsr-3489	210	9	ratio	ratio	NOUN
fsr-3489	210	10	.	.	PUNCT
fsr-3489	211	1	these	these	DET
fsr-3489	211	2	small	small	ADJ
fsr-3489	211	3	but	but	CCONJ
fsr-3489	211	4	positive	positive	ADJ
fsr-3489	211	5	sharpe	sharpe	NOUN
fsr-3489	211	6	ratios	ratio	NOUN
fsr-3489	211	7	reflect	reflect	VERB
fsr-3489	211	8	the	the	DET
fsr-3489	211	9	flat	flat	ADJ
fsr-3489	211	10	u.s	u.s	PROPN
fsr-3489	211	11	.	.	PROPN
fsr-3489	211	12	equity	equity	NOUN
fsr-3489	211	13	market	market	NOUN
fsr-3489	211	14	during	during	ADP
fsr-3489	211	15	the	the	DET
fsr-3489	211	16	sample	sample	NOUN
fsr-3489	211	17	period	period	NOUN
fsr-3489	211	18	.	.	PUNCT
fsr-3489	212	1	4.1	4.1	NUM
fsr-3489	212	2	.	.	PUNCT
fsr-3489	213	1	sharpe	sharpe	PROPN
fsr-3489	213	2	ratio	ratio	PROPN
fsr-3489	213	3	does	do	AUX
fsr-3489	213	4	the	the	DET
fsr-3489	213	5	sharpe	sharpe	PROPN
fsr-3489	213	6	ratio	ratio	PROPN
fsr-3489	213	7	comparison	comparison	NOUN
fsr-3489	213	8	between	between	ADP
fsr-3489	213	9	each	each	DET
fsr-3489	213	10	pair	pair	NOUN
fsr-3489	213	11	of	of	ADP
fsr-3489	213	12	sector	sector	NOUN
fsr-3489	213	13	funds	fund	NOUN
fsr-3489	213	14	echo	echo	VERB
fsr-3489	213	15	the	the	DET
fsr-3489	213	16	group	group	NOUN
fsr-3489	213	17	sharpe	sharpe	PROPN
fsr-3489	213	18	ratio	ratio	PROPN
fsr-3489	213	19	results	result	NOUN
fsr-3489	213	20	in	in	ADP
fsr-3489	213	21	table	table	NOUN
fsr-3489	213	22	3	3	NUM
fsr-3489	213	23	?	?	SYM
fsr-3489	213	24	table	table	NOUN
fsr-3489	213	25	4	4	NUM
fsr-3489	213	26	shows	show	VERB
fsr-3489	213	27	that	that	SCONJ
fsr-3489	213	28	for	for	ADP
fsr-3489	213	29	the	the	DET
fsr-3489	213	30	full	full	ADJ
fsr-3489	213	31	sample	sample	NOUN
fsr-3489	213	32	period	period	NOUN
fsr-3489	213	33	,	,	PUNCT
fsr-3489	213	34	january	january	PROPN
fsr-3489	213	35	1999	1999	NUM
fsr-3489	213	36	through	through	ADP
fsr-3489	213	37	december	december	PROPN
fsr-3489	213	38	2010	2010	NUM
fsr-3489	213	39	,	,	PUNCT
fsr-3489	213	40	seven	seven	NUM
fsr-3489	213	41	out	out	ADP
fsr-3489	213	42	of	of	ADP
fsr-3489	213	43	nine	nine	NUM
fsr-3489	213	44	sector	sector	NOUN
fsr-3489	213	45	mfs	mfs	NOUN
fsr-3489	213	46	have	have	VERB
fsr-3489	213	47	a	a	DET
fsr-3489	213	48	higher	high	ADJ
fsr-3489	213	49	sharpe	sharpe	NOUN
fsr-3489	213	50	ratio	ratio	NOUN
fsr-3489	213	51	than	than	ADP
fsr-3489	213	52	that	that	PRON
fsr-3489	213	53	of	of	ADP
fsr-3489	213	54	their	their	PRON
fsr-3489	213	55	peer	peer	NOUN
fsr-3489	213	56	etfs	etfs	NOUN
fsr-3489	213	57	,	,	PUNCT
fsr-3489	213	58	except	except	SCONJ
fsr-3489	213	59	for	for	ADP
fsr-3489	213	60	the	the	DET
fsr-3489	213	61	utilities	utility	NOUN
fsr-3489	213	62	and	and	CCONJ
fsr-3489	213	63	consumer	consumer	NOUN
fsr-3489	213	64	discretionary	discretionary	ADJ
fsr-3489	213	65	mf	mf	NOUN
fsr-3489	213	66	.	.	PUNCT
fsr-3489	214	1	the	the	DET
fsr-3489	214	2	materials	material	NOUN
fsr-3489	214	3	table	table	NOUN
fsr-3489	214	4	4	4	NUM
fsr-3489	214	5	individual	individual	ADJ
fsr-3489	214	6	fund	fund	NOUN
fsr-3489	214	7	sharpe	sharpe	PROPN
fsr-3489	214	8	ratio	ratio	PROPN
fsr-3489	214	9	,	,	PUNCT
fsr-3489	214	10	january	january	PROPN
fsr-3489	214	11	1999	1999	NUM
fsr-3489	214	12	through	through	ADP
fsr-3489	214	13	december	december	PROPN
fsr-3489	214	14	2010	2010	NUM
fsr-3489	214	15	fund	fund	NOUN
fsr-3489	214	16	mean	mean	VERB
fsr-3489	214	17	excess	excess	ADJ
fsr-3489	214	18	return	return	NOUN
fsr-3489	214	19	sd	sd	ADP
fsr-3489	214	20	sharpe	sharpe	PROPN
fsr-3489	214	21	ratio	ratio	PROPN
fsr-3489	214	22	mf	mf	VERB
fsr-3489	214	23	sr	sr	PROPN
fsr-3489	214	24	higher	higher	ADV
fsr-3489	214	25	than	than	SCONJ
fsr-3489	214	26	etf	etf	PROPN
fsr-3489	214	27	mf	mf	VERB
fsr-3489	214	28	sr	sr	PROPN
fsr-3489	214	29	higher	higher	ADV
fsr-3489	214	30	than	than	SCONJ
fsr-3489	214	31	spy	spy	NOUN
fsr-3489	214	32	etf	etf	PROPN
fsr-3489	214	33	sr	sr	PROPN
fsr-3489	214	34	higher	high	ADJ
fsr-3489	214	35	than	than	ADP
fsr-3489	214	36	spy	spy	NOUN
fsr-3489	214	37	bbb	bbb	PROPN
fsr-3489	214	38	1.030	1.030	NUM
fsr-3489	214	39	6.786	6.786	NUM
fsr-3489	214	40	0.152	0.152	NUM
fsr-3489	215	1	yes	yes	INTJ
fsr-3489	216	1	yes	yes	INTJ
fsr-3489	216	2	xlb	xlb	PROPN
fsr-3489	216	3	0.555	0.555	NUM
fsr-3489	216	4	6.760	6.760	NUM
fsr-3489	216	5	0.082	0.082	NUM
fsr-3489	216	6	yes	yes	PRON
fsr-3489	216	7	eee	eee	NOUN
fsr-3489	217	1	1.100	1.100	NUM
fsr-3489	217	2	7.390	7.390	NUM
fsr-3489	217	3	0.149	0.149	NUM
fsr-3489	218	1	yes	yes	INTJ
fsr-3489	219	1	yes	yes	INTJ
fsr-3489	219	2	xle	xle	PROPN
fsr-3489	219	3	0.853	0.853	NUM
fsr-3489	219	4	6.504	6.504	NUM
fsr-3489	219	5	0.131	0.131	NUM
fsr-3489	220	1	yes	yes	INTJ
fsr-3489	220	2	fff	fff	PROPN
fsr-3489	220	3	0.035	0.035	NUM
fsr-3489	220	4	6.224	6.224	NUM
fsr-3489	220	5	0.006	0.006	NUM
fsr-3489	221	1	yes	yes	INTJ
fsr-3489	222	1	no	no	DET
fsr-3489	222	2	xlf	xlf	NOUN
fsr-3489	222	3	"	"	PUNCT
fsr-3489	222	4	0.089	0.089	NUM
fsr-3489	222	5	6.886	6.886	NUM
fsr-3489	222	6	"	"	PUNCT
fsr-3489	222	7	0.013	0.013	NUM
fsr-3489	222	8	no	no	DET
fsr-3489	222	9	iii	iii	NUM
fsr-3489	222	10	0.669	0.669	NUM
fsr-3489	222	11	6.157	6.157	NUM
fsr-3489	222	12	0.109	0.109	NUM
fsr-3489	223	1	yes	yes	INTJ
fsr-3489	224	1	yes	yes	INTJ
fsr-3489	224	2	xli	xli	PROPN
fsr-3489	224	3	0.314	0.314	NUM
fsr-3489	224	4	5.868	5.868	NUM
fsr-3489	224	5	0.054	0.054	NUM
fsr-3489	225	1	yes	yes	INTJ
fsr-3489	225	2	kkk	kkk	ADV
fsr-3489	225	3	0.671	0.671	NUM
fsr-3489	225	4	10.126	10.126	NUM
fsr-3489	225	5	0.066	0.066	NUM
fsr-3489	226	1	yes	yes	INTJ
fsr-3489	227	1	yes	yes	INTJ
fsr-3489	227	2	xlk	xlk	INTJ
fsr-3489	228	1	"	"	PUNCT
fsr-3489	228	2	0.015	0.015	NUM
fsr-3489	228	3	8.069	8.069	NUM
fsr-3489	228	4	"	"	PUNCT
fsr-3489	228	5	0.002	0.002	NUM
fsr-3489	228	6	no	no	DET
fsr-3489	228	7	ppp	ppp	NOUN
fsr-3489	228	8	0.367	0.367	NUM
fsr-3489	228	9	3.728	3.728	NUM
fsr-3489	228	10	0.098	0.098	NUM
fsr-3489	229	1	yes	yes	INTJ
fsr-3489	230	1	yes	yes	INTJ
fsr-3489	230	2	xlp	xlp	NOUN
fsr-3489	231	1	0.042	0.042	NUM
fsr-3489	231	2	3.709	3.709	NUM
fsr-3489	231	3	0.011	0.011	NUM
fsr-3489	231	4	yes	yes	NOUN
fsr-3489	231	5	uuu	uuu	PROPN
fsr-3489	231	6	0.066	0.066	NUM
fsr-3489	231	7	5.021	5.021	NUM
fsr-3489	231	8	0.013	0.013	NUM
fsr-3489	231	9	no	no	INTJ
fsr-3489	231	10	yes	yes	INTJ
fsr-3489	231	11	xlu	xlu	ADV
fsr-3489	231	12	0.184	0.184	NUM
fsr-3489	231	13	4.671	4.671	NUM
fsr-3489	231	14	0.039	0.039	NUM
fsr-3489	231	15	yes	yes	INTJ
fsr-3489	231	16	vvv	vvv	VERB
fsr-3489	231	17	0.224	0.224	NUM
fsr-3489	231	18	4.175	4.175	NUM
fsr-3489	231	19	0.054	0.054	NUM
fsr-3489	232	1	yes	yes	INTJ
fsr-3489	233	1	yes	yes	INTJ
fsr-3489	233	2	xlv	xlv	PROPN
fsr-3489	233	3	0.093	0.093	NUM
fsr-3489	233	4	4.280	4.280	NUM
fsr-3489	233	5	0.022	0.022	NUM
fsr-3489	233	6	yes	yes	INTJ
fsr-3489	233	7	yyy	yyy	NOUN
fsr-3489	234	1	0.112	0.112	NUM
fsr-3489	234	2	4.896	4.896	NUM
fsr-3489	234	3	0.023	0.023	NUM
fsr-3489	234	4	no	no	INTJ
fsr-3489	235	1	yes	yes	INTJ
fsr-3489	235	2	xly	xly	PROPN
fsr-3489	236	1	0.272	0.272	NUM
fsr-3489	236	2	5.899	5.899	NUM
fsr-3489	236	3	0.046	0.046	NUM
fsr-3489	236	4	yes	yes	INTJ
fsr-3489	236	5	spy	spy	NOUN
fsr-3489	236	6	0.038	0.038	NUM
fsr-3489	236	7	4.660	4.660	NUM
fsr-3489	236	8	0.008	0.008	NUM
fsr-3489	236	9	average	average	NOUN
fsr-3489	236	10	mf	mf	VERB
fsr-3489	236	11	sr	sr	PROPN
fsr-3489	236	12	0.074	0.074	NUM
fsr-3489	236	13	average	average	ADJ
fsr-3489	236	14	etf	etf	PROPN
fsr-3489	236	15	sr	sr	PROPN
fsr-3489	236	16	0.041	0.041	NUM
fsr-3489	236	17	p	p	ADJ
fsr-3489	236	18	-	-	PUNCT
fsr-3489	236	19	value	value	NOUN
fsr-3489	236	20	average	average	NOUN
fsr-3489	236	21	mf	mf	VERB
fsr-3489	236	22	sr	sr	NOUN
fsr-3489	236	23	higher	high	ADJ
fsr-3489	236	24	than	than	ADP
fsr-3489	236	25	average	average	ADJ
fsr-3489	236	26	etf	etf	NOUN
fsr-3489	236	27	sr	sr	PROPN
fsr-3489	236	28	0.020	0.020	NUM
fsr-3489	236	29	note	note	NOUN
fsr-3489	236	30	:	:	PUNCT
fsr-3489	236	31	bbb	bbb	NUM
fsr-3489	236	32	,	,	PUNCT
fsr-3489	236	33	eee	eee	PROPN
fsr-3489	236	34	,	,	PUNCT
fsr-3489	236	35	fff	fff	PROPN
fsr-3489	236	36	,	,	PUNCT
fsr-3489	236	37	iii	iii	PROPN
fsr-3489	236	38	,	,	PUNCT
fsr-3489	236	39	kkk	kkk	PROPN
fsr-3489	236	40	,	,	PUNCT
fsr-3489	236	41	ppp	ppp	PROPN
fsr-3489	236	42	,	,	PUNCT
fsr-3489	236	43	uuu	uuu	PROPN
fsr-3489	236	44	,	,	PUNCT
fsr-3489	236	45	vvv	vvv	PROPN
fsr-3489	236	46	,	,	PUNCT
fsr-3489	236	47	and	and	CCONJ
fsr-3489	236	48	yyy	yyy	PROPN
fsr-3489	236	49	represent	represent	VERB
fsr-3489	236	50	the	the	DET
fsr-3489	236	51	fidelity	fidelity	PROPN
fsr-3489	236	52	select	select	PROPN
fsr-3489	236	53	portfolio	portfolio	NOUN
fsr-3489	236	54	mutual	mutual	ADJ
fsr-3489	236	55	funds	fund	NOUN
fsr-3489	236	56	for	for	ADP
fsr-3489	236	57	the	the	DET
fsr-3489	236	58	materials	material	NOUN
fsr-3489	236	59	sector	sector	NOUN
fsr-3489	236	60	,	,	PUNCT
fsr-3489	236	61	the	the	DET
fsr-3489	236	62	energy	energy	NOUN
fsr-3489	236	63	sector	sector	NOUN
fsr-3489	236	64	,	,	PUNCT
fsr-3489	236	65	the	the	DET
fsr-3489	236	66	financial	financial	ADJ
fsr-3489	236	67	sector	sector	NOUN
fsr-3489	236	68	,	,	PUNCT
fsr-3489	236	69	the	the	DET
fsr-3489	236	70	industrials	industrial	NOUN
fsr-3489	236	71	sector	sector	NOUN
fsr-3489	236	72	,	,	PUNCT
fsr-3489	236	73	the	the	DET
fsr-3489	236	74	technology	technology	NOUN
fsr-3489	236	75	sector	sector	NOUN
fsr-3489	236	76	,	,	PUNCT
fsr-3489	236	77	the	the	DET
fsr-3489	236	78	consumer	consumer	NOUN
fsr-3489	236	79	staples	staple	NOUN
fsr-3489	236	80	sector	sector	NOUN
fsr-3489	236	81	,	,	PUNCT
fsr-3489	236	82	the	the	DET
fsr-3489	236	83	utilities	utility	NOUN
fsr-3489	236	84	sector	sector	NOUN
fsr-3489	236	85	,	,	PUNCT
fsr-3489	236	86	the	the	DET
fsr-3489	236	87	healthcare	healthcare	NOUN
fsr-3489	236	88	sector	sector	NOUN
fsr-3489	236	89	,	,	PUNCT
fsr-3489	236	90	and	and	CCONJ
fsr-3489	236	91	the	the	DET
fsr-3489	236	92	consumer	consumer	NOUN
fsr-3489	236	93	discretionary	discretionary	ADJ
fsr-3489	236	94	sector	sector	NOUN
fsr-3489	236	95	,	,	PUNCT
fsr-3489	236	96	respectively	respectively	ADV
fsr-3489	236	97	.	.	PUNCT
fsr-3489	237	1	xlb	xlb	PROPN
fsr-3489	237	2	,	,	PUNCT
fsr-3489	237	3	xle	xle	PROPN
fsr-3489	237	4	,	,	PUNCT
fsr-3489	237	5	xlf	xlf	PROPN
fsr-3489	237	6	,	,	PUNCT
fsr-3489	237	7	xli	xli	PROPN
fsr-3489	237	8	,	,	PUNCT
fsr-3489	237	9	xlk	xlk	PROPN
fsr-3489	237	10	,	,	PUNCT
fsr-3489	237	11	xlp	xlp	PROPN
fsr-3489	237	12	,	,	PUNCT
fsr-3489	237	13	xlu	xlu	ADJ
fsr-3489	237	14	,	,	PUNCT
fsr-3489	237	15	xlv	xlv	PROPN
fsr-3489	237	16	,	,	PUNCT
fsr-3489	237	17	and	and	CCONJ
fsr-3489	237	18	xly	xly	PROPN
fsr-3489	237	19	represent	represent	VERB
fsr-3489	237	20	the	the	DET
fsr-3489	237	21	select	select	ADJ
fsr-3489	237	22	sector	sector	NOUN
fsr-3489	237	23	spdr	spdr	PROPN
fsr-3489	237	24	etfs	etfs	PROPN
fsr-3489	237	25	for	for	ADP
fsr-3489	237	26	these	these	DET
fsr-3489	237	27	nine	nine	NUM
fsr-3489	237	28	sectors	sector	NOUN
fsr-3489	237	29	,	,	PUNCT
fsr-3489	237	30	respectively	respectively	ADV
fsr-3489	237	31	.	.	PUNCT
fsr-3489	238	1	spy	spy	NOUN
fsr-3489	238	2	represents	represent	VERB
fsr-3489	238	3	the	the	DET
fsr-3489	238	4	spdr	spdr	NOUN
fsr-3489	238	5	s&p	s&p	PROPN
fsr-3489	238	6	500	500	NUM
fsr-3489	238	7	trust	trust	NOUN
fsr-3489	238	8	.	.	PUNCT
fsr-3489	239	1	258	258	NUM
fsr-3489	239	2	c.y	c.y	PROPN
fsr-3489	239	3	.	.	PROPN
fsr-3489	239	4	lin	lin	PROPN
fsr-3489	239	5	/	/	SYM
fsr-3489	239	6	financial	financial	ADJ
fsr-3489	239	7	services	service	NOUN
fsr-3489	239	8	review	review	VERB
fsr-3489	239	9	23	23	NUM
fsr-3489	239	10	(	(	PUNCT
fsr-3489	239	11	2014	2014	NUM
fsr-3489	239	12	)	)	PUNCT
fsr-3489	239	13	249–271	249–271	NUM
fsr-3489	239	14	and	and	CCONJ
fsr-3489	239	15	energy	energy	NOUN
fsr-3489	239	16	mf	mf	NOUN
fsr-3489	239	17	have	have	VERB
fsr-3489	239	18	the	the	DET
fsr-3489	239	19	highest	high	ADJ
fsr-3489	239	20	sharpe	sharpe	NOUN
fsr-3489	239	21	ratios	ratio	NOUN
fsr-3489	239	22	,	,	PUNCT
fsr-3489	239	23	0.152	0.152	NUM
fsr-3489	239	24	and	and	CCONJ
fsr-3489	239	25	0.149	0.149	NUM
fsr-3489	239	26	,	,	PUNCT
fsr-3489	239	27	respectively	respectively	ADV
fsr-3489	239	28	;	;	PUNCT
fsr-3489	239	29	whereas	whereas	SCONJ
fsr-3489	239	30	the	the	DET
fsr-3489	239	31	financial	financial	ADJ
fsr-3489	239	32	and	and	CCONJ
fsr-3489	239	33	technology	technology	NOUN
fsr-3489	239	34	etf	etf	NOUN
fsr-3489	239	35	have	have	VERB
fsr-3489	239	36	a	a	DET
fsr-3489	239	37	negative	negative	ADJ
fsr-3489	239	38	sharpe	sharpe	NOUN
fsr-3489	239	39	ratio	ratio	NOUN
fsr-3489	239	40	for	for	ADP
fsr-3489	239	41	the	the	DET
fsr-3489	239	42	same	same	ADJ
fsr-3489	239	43	period	period	NOUN
fsr-3489	239	44	.	.	PUNCT
fsr-3489	240	1	the	the	DET
fsr-3489	240	2	average	average	ADJ
fsr-3489	240	3	mf	mf	VERB
fsr-3489	240	4	sharpe	sharpe	PROPN
fsr-3489	240	5	ratio	ratio	NOUN
fsr-3489	240	6	across	across	ADP
fsr-3489	240	7	all	all	DET
fsr-3489	240	8	sectors	sector	NOUN
fsr-3489	240	9	is	be	AUX
fsr-3489	240	10	0.074	0.074	NUM
fsr-3489	240	11	versus	versus	ADP
fsr-3489	240	12	0.041	0.041	NUM
fsr-3489	240	13	for	for	ADP
fsr-3489	240	14	sector	sector	NOUN
fsr-3489	240	15	etfs	etfs	NOUN
fsr-3489	240	16	,	,	PUNCT
fsr-3489	240	17	and	and	CCONJ
fsr-3489	240	18	the	the	DET
fsr-3489	240	19	difference	difference	NOUN
fsr-3489	240	20	is	be	AUX
fsr-3489	240	21	significant	significant	ADJ
fsr-3489	240	22	at	at	ADP
fsr-3489	240	23	the	the	DET
fsr-3489	240	24	5	5	NUM
fsr-3489	240	25	%	%	NOUN
fsr-3489	240	26	level	level	NOUN
fsr-3489	240	27	using	use	VERB
fsr-3489	240	28	one	one	NUM
fsr-3489	240	29	-	-	PUNCT
fsr-3489	240	30	tailed	tail	VERB
fsr-3489	240	31	t	t	NOUN
fsr-3489	240	32	test	test	NOUN
fsr-3489	240	33	.	.	PUNCT
fsr-3489	241	1	when	when	SCONJ
fsr-3489	241	2	the	the	DET
fsr-3489	241	3	sample	sample	NOUN
fsr-3489	241	4	period	period	NOUN
fsr-3489	241	5	is	be	AUX
fsr-3489	241	6	divided	divide	VERB
fsr-3489	241	7	into	into	ADP
fsr-3489	241	8	two	two	NUM
fsr-3489	241	9	equal	equal	ADJ
fsr-3489	241	10	-	-	PUNCT
fsr-3489	241	11	length	length	NOUN
fsr-3489	241	12	subperiods	subperiod	NOUN
fsr-3489	241	13	,	,	PUNCT
fsr-3489	241	14	the	the	DET
fsr-3489	241	15	results	result	NOUN
fsr-3489	241	16	are	be	AUX
fsr-3489	241	17	slightly	slightly	ADV
fsr-3489	241	18	different.11	different.11	NOUN
fsr-3489	241	19	for	for	ADP
fsr-3489	241	20	the	the	DET
fsr-3489	241	21	first	first	ADJ
fsr-3489	241	22	half	half	ADJ
fsr-3489	241	23	sample	sample	NOUN
fsr-3489	241	24	period	period	NOUN
fsr-3489	241	25	,	,	PUNCT
fsr-3489	241	26	from	from	ADP
fsr-3489	241	27	january1999	january1999	PROPN
fsr-3489	241	28	through	through	ADP
fsr-3489	241	29	december	december	PROPN
fsr-3489	241	30	2004	2004	NUM
fsr-3489	241	31	,	,	PUNCT
fsr-3489	241	32	the	the	DET
fsr-3489	241	33	healthcare	healthcare	NOUN
fsr-3489	241	34	mf	mf	X
fsr-3489	241	35	does	do	AUX
fsr-3489	241	36	not	not	PART
fsr-3489	241	37	have	have	VERB
fsr-3489	241	38	a	a	DET
fsr-3489	241	39	higher	high	ADJ
fsr-3489	241	40	sharpe	sharpe	NOUN
fsr-3489	241	41	ratio	ratio	NOUN
fsr-3489	241	42	than	than	ADP
fsr-3489	241	43	its	its	PRON
fsr-3489	241	44	peer	peer	NOUN
fsr-3489	241	45	etf	etf	NOUN
fsr-3489	241	46	.	.	PUNCT
fsr-3489	242	1	for	for	ADP
fsr-3489	242	2	the	the	DET
fsr-3489	242	3	second	second	ADJ
fsr-3489	242	4	half	half	NOUN
fsr-3489	242	5	sample	sample	NOUN
fsr-3489	242	6	period	period	NOUN
fsr-3489	242	7	,	,	PUNCT
fsr-3489	242	8	from	from	ADP
fsr-3489	242	9	january	january	PROPN
fsr-3489	242	10	2005	2005	NUM
fsr-3489	242	11	through	through	ADP
fsr-3489	242	12	december	december	PROPN
fsr-3489	242	13	2010	2010	NUM
fsr-3489	242	14	,	,	PUNCT
fsr-3489	242	15	the	the	DET
fsr-3489	242	16	energy	energy	NOUN
fsr-3489	242	17	mf	mf	X
fsr-3489	242	18	does	do	AUX
fsr-3489	242	19	not	not	PART
fsr-3489	242	20	have	have	VERB
fsr-3489	242	21	a	a	DET
fsr-3489	242	22	higher	high	ADJ
fsr-3489	242	23	sharpe	sharpe	NOUN
fsr-3489	242	24	ratio	ratio	NOUN
fsr-3489	242	25	,	,	PUNCT
fsr-3489	242	26	but	but	CCONJ
fsr-3489	242	27	the	the	DET
fsr-3489	242	28	consumer	consumer	NOUN
fsr-3489	242	29	discretionary	discretionary	ADJ
fsr-3489	242	30	mf	mf	NOUN
fsr-3489	242	31	does	do	AUX
fsr-3489	242	32	outperform	outperform	VERB
fsr-3489	242	33	its	its	PRON
fsr-3489	242	34	peer	peer	NOUN
fsr-3489	242	35	etf	etf	NOUN
fsr-3489	242	36	.	.	PUNCT
fsr-3489	243	1	subsample	subsample	ADJ
fsr-3489	243	2	analysis	analysis	NOUN
fsr-3489	243	3	also	also	ADV
fsr-3489	243	4	shows	show	VERB
fsr-3489	243	5	that	that	SCONJ
fsr-3489	243	6	the	the	DET
fsr-3489	243	7	significant	significant	ADJ
fsr-3489	243	8	higher	high	ADJ
fsr-3489	243	9	mf	mf	PRON
fsr-3489	243	10	average	average	ADJ
fsr-3489	243	11	sharpe	sharpe	PROPN
fsr-3489	243	12	ratio	ratio	NOUN
fsr-3489	243	13	for	for	ADP
fsr-3489	243	14	the	the	DET
fsr-3489	243	15	whole	whole	ADJ
fsr-3489	243	16	sample	sample	NOUN
fsr-3489	243	17	period	period	NOUN
fsr-3489	243	18	is	be	AUX
fsr-3489	243	19	mainly	mainly	ADV
fsr-3489	243	20	because	because	SCONJ
fsr-3489	243	21	of	of	ADP
fsr-3489	243	22	higher	high	ADJ
fsr-3489	243	23	mf	mf	PRON
fsr-3489	243	24	average	average	ADJ
fsr-3489	243	25	sharpe	sharpe	PROPN
fsr-3489	243	26	ratio	ratio	NOUN
fsr-3489	243	27	in	in	ADP
fsr-3489	243	28	the	the	DET
fsr-3489	243	29	second	second	ADJ
fsr-3489	243	30	half	half	NOUN
fsr-3489	243	31	sample	sample	NOUN
fsr-3489	243	32	period	period	NOUN
fsr-3489	243	33	,	,	PUNCT
fsr-3489	243	34	which	which	PRON
fsr-3489	243	35	is	be	AUX
fsr-3489	243	36	significant	significant	ADJ
fsr-3489	243	37	at	at	ADP
fsr-3489	243	38	the	the	DET
fsr-3489	243	39	1	1	NUM
fsr-3489	243	40	%	%	NOUN
fsr-3489	243	41	level	level	NOUN
fsr-3489	243	42	,	,	PUNCT
fsr-3489	243	43	whereas	whereas	SCONJ
fsr-3489	243	44	the	the	DET
fsr-3489	243	45	p	p	NOUN
fsr-3489	243	46	-	-	PUNCT
fsr-3489	243	47	value	value	NOUN
fsr-3489	243	48	is	be	AUX
fsr-3489	243	49	greater	great	ADJ
fsr-3489	243	50	than	than	ADP
fsr-3489	243	51	5	5	NUM
fsr-3489	243	52	%	%	NOUN
fsr-3489	243	53	for	for	ADP
fsr-3489	243	54	the	the	DET
fsr-3489	243	55	first	first	ADJ
fsr-3489	243	56	half	half	ADJ
fsr-3489	243	57	sample	sample	NOUN
fsr-3489	243	58	period	period	NOUN
fsr-3489	243	59	.	.	PUNCT
fsr-3489	244	1	table	table	NOUN
fsr-3489	244	2	4	4	NUM
fsr-3489	244	3	also	also	ADV
fsr-3489	244	4	compares	compare	VERB
fsr-3489	244	5	sharpe	sharpe	PROPN
fsr-3489	244	6	ratio	ratio	NOUN
fsr-3489	244	7	between	between	ADP
fsr-3489	244	8	individual	individual	ADJ
fsr-3489	244	9	sector	sector	NOUN
fsr-3489	244	10	funds	fund	NOUN
fsr-3489	244	11	and	and	CCONJ
fsr-3489	244	12	spy	spy	NOUN
fsr-3489	244	13	.	.	PUNCT
fsr-3489	245	1	only	only	ADV
fsr-3489	245	2	the	the	DET
fsr-3489	245	3	financial	financial	ADJ
fsr-3489	245	4	mf	mf	NOUN
fsr-3489	245	5	underperforms	underperform	NOUN
fsr-3489	245	6	spy	spy	NOUN
fsr-3489	245	7	for	for	ADP
fsr-3489	245	8	the	the	DET
fsr-3489	245	9	full	full	ADJ
fsr-3489	245	10	sample	sample	NOUN
fsr-3489	245	11	period	period	NOUN
fsr-3489	245	12	,	,	PUNCT
fsr-3489	245	13	whereas	whereas	SCONJ
fsr-3489	245	14	both	both	CCONJ
fsr-3489	245	15	the	the	DET
fsr-3489	245	16	financial	financial	ADJ
fsr-3489	245	17	and	and	CCONJ
fsr-3489	245	18	technology	technology	NOUN
fsr-3489	245	19	etf	etf	NOUN
fsr-3489	245	20	underperform	underperform	NOUN
fsr-3489	245	21	spy	spy	NOUN
fsr-3489	245	22	for	for	ADP
fsr-3489	245	23	the	the	DET
fsr-3489	245	24	same	same	ADJ
fsr-3489	245	25	time	time	NOUN
fsr-3489	245	26	period	period	NOUN
fsr-3489	245	27	.	.	PUNCT
fsr-3489	246	1	using	use	VERB
fsr-3489	246	2	total	total	ADJ
fsr-3489	246	3	risk	risk	NOUN
fsr-3489	246	4	as	as	ADP
fsr-3489	246	5	the	the	DET
fsr-3489	246	6	measurement	measurement	NOUN
fsr-3489	246	7	,	,	PUNCT
fsr-3489	246	8	i	i	PRON
fsr-3489	246	9	find	find	VERB
fsr-3489	246	10	that	that	SCONJ
fsr-3489	246	11	most	most	ADJ
fsr-3489	246	12	sector	sector	NOUN
fsr-3489	246	13	mfs	mfs	VERB
fsr-3489	246	14	outperform	outperform	VERB
fsr-3489	246	15	their	their	PRON
fsr-3489	246	16	peer	peer	NOUN
fsr-3489	246	17	etfs	etfs	NOUN
fsr-3489	246	18	.	.	PUNCT
fsr-3489	247	1	sector	sector	PROPN
fsr-3489	247	2	mfs	mfs	PROPN
fsr-3489	247	3	also	also	ADV
fsr-3489	247	4	have	have	VERB
fsr-3489	247	5	a	a	DET
fsr-3489	247	6	higher	high	ADJ
fsr-3489	247	7	number	number	NOUN
fsr-3489	247	8	of	of	ADP
fsr-3489	247	9	funds	fund	NOUN
fsr-3489	247	10	outperform	outperform	ADJ
fsr-3489	247	11	spy	spy	NOUN
fsr-3489	247	12	.	.	PUNCT
fsr-3489	248	1	4.2	4.2	NUM
fsr-3489	248	2	.	.	PUNCT
fsr-3489	248	3	performance	performance	NOUN
fsr-3489	248	4	against	against	ADP
fsr-3489	248	5	s&p	s&p	PROPN
fsr-3489	248	6	500	500	NUM
fsr-3489	248	7	etf	etf	NOUN
fsr-3489	248	8	systematic	systematic	ADJ
fsr-3489	248	9	risk	risk	NOUN
fsr-3489	248	10	is	be	AUX
fsr-3489	248	11	always	always	ADV
fsr-3489	248	12	the	the	DET
fsr-3489	248	13	part	part	NOUN
fsr-3489	248	14	of	of	ADP
fsr-3489	248	15	risk	risk	NOUN
fsr-3489	248	16	that	that	PRON
fsr-3489	248	17	gets	get	VERB
fsr-3489	248	18	more	more	ADJ
fsr-3489	248	19	attention	attention	NOUN
fsr-3489	248	20	because	because	SCONJ
fsr-3489	248	21	many	many	ADJ
fsr-3489	248	22	argue	argue	VERB
fsr-3489	248	23	that	that	SCONJ
fsr-3489	248	24	unsystematic	unsystematic	ADJ
fsr-3489	248	25	risk	risk	NOUN
fsr-3489	248	26	can	can	AUX
fsr-3489	248	27	be	be	AUX
fsr-3489	248	28	diversified	diversify	VERB
fsr-3489	248	29	away	away	ADV
fsr-3489	248	30	at	at	ADP
fsr-3489	248	31	a	a	DET
fsr-3489	248	32	relatively	relatively	ADV
fsr-3489	248	33	low	low	ADJ
fsr-3489	248	34	cost.12	cost.12	NOUN
fsr-3489	248	35	capm	capm	PROPN
fsr-3489	248	36	has	have	AUX
fsr-3489	248	37	been	be	AUX
fsr-3489	248	38	the	the	DET
fsr-3489	248	39	standard	standard	ADJ
fsr-3489	248	40	model	model	NOUN
fsr-3489	248	41	to	to	PART
fsr-3489	248	42	test	test	NOUN
fsr-3489	248	43	fund	fund	NOUN
fsr-3489	248	44	performance	performance	NOUN
fsr-3489	248	45	.	.	PUNCT
fsr-3489	249	1	i	i	PRON
fsr-3489	249	2	modify	modify	VERB
fsr-3489	249	3	the	the	DET
fsr-3489	249	4	model	model	NOUN
fsr-3489	249	5	by	by	ADP
fsr-3489	249	6	replacing	replace	VERB
fsr-3489	249	7	excess	excess	ADJ
fsr-3489	249	8	market	market	NOUN
fsr-3489	249	9	return	return	NOUN
fsr-3489	249	10	with	with	ADP
fsr-3489	249	11	excess	excess	ADJ
fsr-3489	249	12	spy	spy	NOUN
fsr-3489	249	13	return	return	NOUN
fsr-3489	249	14	because	because	SCONJ
fsr-3489	249	15	an	an	DET
fsr-3489	249	16	investable	investable	ADJ
fsr-3489	249	17	benchmark	benchmark	NOUN
fsr-3489	249	18	makes	make	VERB
fsr-3489	249	19	more	more	ADJ
fsr-3489	249	20	sense	sense	NOUN
fsr-3489	249	21	for	for	ADP
fsr-3489	249	22	comparing	compare	VERB
fsr-3489	249	23	attainable	attainable	ADJ
fsr-3489	249	24	returns	return	NOUN
fsr-3489	249	25	:	:	PUNCT
fsr-3489	249	26	ri	ri	PROPN
fsr-3489	249	27	,	,	PUNCT
fsr-3489	249	28	t	t	PROPN
fsr-3489	249	29	$	$	SYM
fsr-3489	249	30	rf	rf	PROPN
fsr-3489	249	31	,	,	PUNCT
fsr-3489	249	32	t	t	NOUN
fsr-3489	249	33	"	"	PUNCT
fsr-3489	249	34	!	!	PUNCT
fsr-3489	250	1	i	i	PRON
fsr-3489	250	2	#	#	NOUN
fsr-3489	250	3	%	%	NOUN
fsr-3489	250	4	i#rspy	i#rspy	PROPN
fsr-3489	250	5	,	,	PUNCT
fsr-3489	250	6	t	t	PROPN
fsr-3489	250	7	$	$	SYM
fsr-3489	250	8	rf	rf	PROPN
fsr-3489	250	9	,	,	PUNCT
fsr-3489	250	10	t$	t$	VERB
fsr-3489	250	11	#	#	PROPN
fsr-3489	250	12	&	&	CCONJ
fsr-3489	250	13	i	i	PROPN
fsr-3489	250	14	,	,	PUNCT
fsr-3489	250	15	t	t	PROPN
fsr-3489	250	16	(	(	PUNCT
fsr-3489	250	17	2	2	NUM
fsr-3489	250	18	)	)	PUNCT
fsr-3489	250	19	where	where	SCONJ
fsr-3489	250	20	ri	ri	PROPN
fsr-3489	250	21	,	,	PUNCT
fsr-3489	250	22	t	t	PROPN
fsr-3489	250	23	is	be	AUX
fsr-3489	250	24	the	the	DET
fsr-3489	250	25	return	return	NOUN
fsr-3489	250	26	of	of	ADP
fsr-3489	250	27	fund	fund	NOUN
fsr-3489	250	28	i	i	PRON
fsr-3489	250	29	in	in	ADP
fsr-3489	250	30	month	month	PROPN
fsr-3489	250	31	t	t	PROPN
fsr-3489	250	32	,	,	PUNCT
fsr-3489	250	33	rf	rf	PROPN
fsr-3489	250	34	,	,	PUNCT
fsr-3489	250	35	t	t	PROPN
fsr-3489	250	36	is	be	AUX
fsr-3489	250	37	the	the	DET
fsr-3489	250	38	return	return	NOUN
fsr-3489	250	39	of	of	ADP
fsr-3489	250	40	one	one	NUM
fsr-3489	250	41	-	-	PUNCT
fsr-3489	250	42	month	month	NOUN
fsr-3489	250	43	t	t	NOUN
fsr-3489	250	44	-	-	PUNCT
fsr-3489	250	45	bill	bill	NOUN
fsr-3489	250	46	in	in	ADP
fsr-3489	250	47	month	month	NOUN
fsr-3489	250	48	t	t	PROPN
fsr-3489	250	49	,	,	PUNCT
fsr-3489	250	50	rspy	rspy	PROPN
fsr-3489	250	51	,	,	PUNCT
fsr-3489	250	52	t	t	PROPN
fsr-3489	250	53	is	be	AUX
fsr-3489	250	54	the	the	DET
fsr-3489	250	55	spy	spy	NOUN
fsr-3489	250	56	return	return	NOUN
fsr-3489	250	57	in	in	ADP
fsr-3489	250	58	month	month	NOUN
fsr-3489	250	59	t	t	PROPN
fsr-3489	250	60	,	,	PUNCT
fsr-3489	250	61	and	and	CCONJ
fsr-3489	250	62	&	&	CCONJ
fsr-3489	250	63	i	i	PROPN
fsr-3489	250	64	,	,	PUNCT
fsr-3489	250	65	t	t	PROPN
fsr-3489	250	66	is	be	AUX
fsr-3489	250	67	an	an	DET
fsr-3489	250	68	error	error	NOUN
fsr-3489	250	69	term	term	NOUN
fsr-3489	250	70	.	.	PUNCT
fsr-3489	251	1	table	table	NOUN
fsr-3489	251	2	5	5	NUM
fsr-3489	251	3	shows	show	VERB
fsr-3489	251	4	that	that	SCONJ
fsr-3489	251	5	the	the	DET
fsr-3489	251	6	materials	material	NOUN
fsr-3489	251	7	mf	mf	VERB
fsr-3489	251	8	generates	generate	VERB
fsr-3489	251	9	a	a	DET
fsr-3489	251	10	0.988	0.988	NUM
fsr-3489	251	11	%	%	NOUN
fsr-3489	251	12	monthly	monthly	ADJ
fsr-3489	251	13	abnormal	abnormal	ADJ
fsr-3489	251	14	return	return	NOUN
fsr-3489	251	15	(	(	PUNCT
fsr-3489	251	16	11.856	11.856	NUM
fsr-3489	251	17	%	%	NOUN
fsr-3489	251	18	annually	annually	ADV
fsr-3489	251	19	)	)	PUNCT
fsr-3489	251	20	and	and	CCONJ
fsr-3489	251	21	the	the	DET
fsr-3489	251	22	energy	energy	NOUN
fsr-3489	251	23	mf	mf	NOUN
fsr-3489	251	24	generates	generate	VERB
fsr-3489	251	25	a	a	DET
fsr-3489	251	26	1.064	1.064	NUM
fsr-3489	251	27	%	%	NOUN
fsr-3489	251	28	monthly	monthly	ADJ
fsr-3489	251	29	abnormal	abnormal	ADJ
fsr-3489	251	30	return	return	NOUN
fsr-3489	251	31	(	(	PUNCT
fsr-3489	251	32	12.768	12.768	NUM
fsr-3489	251	33	%	%	NOUN
fsr-3489	251	34	annually	annually	ADV
fsr-3489	251	35	)	)	PUNCT
fsr-3489	251	36	during	during	ADP
fsr-3489	251	37	the	the	DET
fsr-3489	251	38	sample	sample	NOUN
fsr-3489	251	39	period	period	NOUN
fsr-3489	251	40	,	,	PUNCT
fsr-3489	251	41	significant	significant	ADJ
fsr-3489	251	42	at	at	ADP
fsr-3489	251	43	the	the	DET
fsr-3489	251	44	1	1	NUM
fsr-3489	251	45	%	%	NOUN
fsr-3489	251	46	and	and	CCONJ
fsr-3489	251	47	5	5	NUM
fsr-3489	251	48	%	%	NOUN
fsr-3489	251	49	level	level	NOUN
fsr-3489	251	50	,	,	PUNCT
fsr-3489	251	51	respectively	respectively	ADV
fsr-3489	251	52	.	.	PUNCT
fsr-3489	252	1	the	the	DET
fsr-3489	252	2	industrial	industrial	ADJ
fsr-3489	252	3	etf	etf	NOUN
fsr-3489	252	4	has	have	VERB
fsr-3489	252	5	a	a	DET
fsr-3489	252	6	significant	significant	ADJ
fsr-3489	252	7	!	!	PUNCT
fsr-3489	253	1	of	of	ADP
fsr-3489	253	2	0.672	0.672	NUM
fsr-3489	253	3	%	%	NOUN
fsr-3489	253	4	at	at	ADP
fsr-3489	253	5	the	the	DET
fsr-3489	253	6	1	1	NUM
fsr-3489	253	7	%	%	NOUN
fsr-3489	253	8	level	level	NOUN
fsr-3489	253	9	.	.	PUNCT
fsr-3489	254	1	all	all	DET
fsr-3489	254	2	%	%	NOUN
fsr-3489	254	3	s	s	VERB
fsr-3489	254	4	are	be	AUX
fsr-3489	254	5	significant	significant	ADJ
fsr-3489	254	6	at	at	ADP
fsr-3489	254	7	the	the	DET
fsr-3489	254	8	1	1	NUM
fsr-3489	254	9	%	%	NOUN
fsr-3489	254	10	level	level	NOUN
fsr-3489	254	11	.	.	PUNCT
fsr-3489	255	1	both	both	PRON
fsr-3489	255	2	mfs	mfs	VERB
fsr-3489	255	3	and	and	CCONJ
fsr-3489	255	4	etfs	etfs	NOUN
fsr-3489	255	5	for	for	ADP
fsr-3489	255	6	the	the	DET
fsr-3489	255	7	materials	material	NOUN
fsr-3489	255	8	sector	sector	NOUN
fsr-3489	255	9	,	,	PUNCT
fsr-3489	255	10	the	the	DET
fsr-3489	255	11	financial	financial	ADJ
fsr-3489	255	12	sector	sector	NOUN
fsr-3489	255	13	,	,	PUNCT
fsr-3489	255	14	the	the	DET
fsr-3489	255	15	industrials	industrial	NOUN
fsr-3489	255	16	sector	sector	NOUN
fsr-3489	255	17	,	,	PUNCT
fsr-3489	255	18	and	and	CCONJ
fsr-3489	255	19	the	the	DET
fsr-3489	255	20	technology	technology	NOUN
fsr-3489	255	21	sector	sector	NOUN
fsr-3489	255	22	have	have	VERB
fsr-3489	255	23	a	a	DET
fsr-3489	255	24	%	%	NOUN
fsr-3489	255	25	greater	great	ADJ
fsr-3489	255	26	than	than	ADP
fsr-3489	255	27	1	1	NUM
fsr-3489	255	28	.	.	PUNCT
fsr-3489	256	1	all	all	DET
fsr-3489	256	2	other	other	ADJ
fsr-3489	256	3	funds	fund	NOUN
fsr-3489	256	4	have	have	VERB
fsr-3489	256	5	a	a	DET
fsr-3489	256	6	%	%	NOUN
fsr-3489	256	7	less	less	ADJ
fsr-3489	256	8	than	than	ADP
fsr-3489	256	9	1	1	NUM
fsr-3489	256	10	except	except	SCONJ
fsr-3489	256	11	for	for	ADP
fsr-3489	256	12	the	the	DET
fsr-3489	256	13	consumer	consumer	NOUN
fsr-3489	256	14	discretionary	discretionary	ADJ
fsr-3489	256	15	etf	etf	NOUN
fsr-3489	256	16	.	.	PUNCT
fsr-3489	257	1	the	the	DET
fsr-3489	257	2	average	average	ADJ
fsr-3489	257	3	adjusted	adjust	VERB
fsr-3489	257	4	r2	r2	NOUN
fsr-3489	257	5	is	be	AUX
fsr-3489	257	6	0.563	0.563	NUM
fsr-3489	257	7	for	for	ADP
fsr-3489	257	8	the	the	DET
fsr-3489	257	9	mfs	mfs	NOUN
fsr-3489	257	10	and	and	CCONJ
fsr-3489	257	11	0.555	0.555	NUM
fsr-3489	257	12	for	for	ADP
fsr-3489	257	13	the	the	DET
fsr-3489	257	14	etfs	etfs	NOUN
fsr-3489	257	15	.	.	PUNCT
fsr-3489	258	1	for	for	ADP
fsr-3489	258	2	the	the	DET
fsr-3489	258	3	first	first	ADJ
fsr-3489	258	4	half	half	ADJ
fsr-3489	258	5	sample	sample	NOUN
fsr-3489	258	6	period	period	NOUN
fsr-3489	258	7	,	,	PUNCT
fsr-3489	258	8	none	none	NOUN
fsr-3489	258	9	of	of	ADP
fsr-3489	258	10	the	the	PRON
fsr-3489	258	11	!	!	PUNCT
fsr-3489	258	12	s	s	PART
fsr-3489	258	13	is	be	AUX
fsr-3489	258	14	significant	significant	ADJ
fsr-3489	258	15	at	at	ADP
fsr-3489	258	16	the	the	DET
fsr-3489	258	17	5	5	NUM
fsr-3489	258	18	%	%	NOUN
fsr-3489	258	19	level	level	NOUN
fsr-3489	258	20	.	.	PUNCT
fsr-3489	259	1	the	the	DET
fsr-3489	259	2	average	average	ADJ
fsr-3489	259	3	adjusted	adjust	VERB
fsr-3489	259	4	r2	r2	NOUN
fsr-3489	259	5	declines	decline	VERB
fsr-3489	259	6	to	to	ADP
fsr-3489	259	7	0.438	0.438	NUM
fsr-3489	259	8	for	for	ADP
fsr-3489	259	9	the	the	DET
fsr-3489	259	10	mfs	mfs	NOUN
fsr-3489	259	11	and	and	CCONJ
fsr-3489	259	12	0.461	0.461	NUM
fsr-3489	259	13	for	for	ADP
fsr-3489	259	14	the	the	DET
fsr-3489	259	15	etfs	etfs	NOUN
fsr-3489	259	16	.	.	PUNCT
fsr-3489	260	1	the	the	DET
fsr-3489	260	2	average	average	ADJ
fsr-3489	260	3	adjusted	adjust	VERB
fsr-3489	260	4	r2	r2	NOUN
fsr-3489	260	5	are	be	AUX
fsr-3489	260	6	higher	high	ADJ
fsr-3489	260	7	for	for	ADP
fsr-3489	260	8	the	the	DET
fsr-3489	260	9	second	second	ADJ
fsr-3489	260	10	half	half	NOUN
fsr-3489	260	11	sample	sample	NOUN
fsr-3489	260	12	period	period	NOUN
fsr-3489	260	13	:	:	PUNCT
fsr-3489	260	14	0.719	0.719	NUM
fsr-3489	260	15	for	for	ADP
fsr-3489	260	16	the	the	DET
fsr-3489	260	17	mfs	mfs	NOUN
fsr-3489	260	18	and	and	CCONJ
fsr-3489	260	19	0.692	0.692	NUM
fsr-3489	260	20	for	for	ADP
fsr-3489	260	21	the	the	DET
fsr-3489	260	22	etfs	etfs	NOUN
fsr-3489	260	23	.	.	PUNCT
fsr-3489	261	1	the	the	DET
fsr-3489	261	2	materials	material	NOUN
fsr-3489	261	3	mf	mf	VERB
fsr-3489	261	4	,	,	PUNCT
fsr-3489	261	5	the	the	DET
fsr-3489	261	6	consumer	consumer	NOUN
fsr-3489	261	7	staples	staple	NOUN
fsr-3489	261	8	mf	mf	VERB
fsr-3489	261	9	,	,	PUNCT
fsr-3489	261	10	and	and	CCONJ
fsr-3489	261	11	the	the	DET
fsr-3489	261	12	industrials	industrial	NOUN
fsr-3489	261	13	etf	etf	NOUN
fsr-3489	261	14	generate	generate	VERB
fsr-3489	261	15	0.940	0.940	NUM
fsr-3489	261	16	%	%	NOUN
fsr-3489	261	17	,	,	PUNCT
fsr-3489	261	18	0.495	0.495	NUM
fsr-3489	261	19	%	%	NOUN
fsr-3489	261	20	,	,	PUNCT
fsr-3489	261	21	and	and	CCONJ
fsr-3489	261	22	0.543	0.543	NUM
fsr-3489	261	23	%	%	NOUN
fsr-3489	261	24	monthly	monthly	ADJ
fsr-3489	261	25	abnormal	abnormal	ADJ
fsr-3489	261	26	returns	return	NOUN
fsr-3489	261	27	,	,	PUNCT
fsr-3489	261	28	respectively	respectively	ADV
fsr-3489	261	29	,	,	PUNCT
fsr-3489	261	30	from	from	ADP
fsr-3489	261	31	january	january	PROPN
fsr-3489	261	32	2005	2005	NUM
fsr-3489	261	33	through	through	ADP
fsr-3489	261	34	december	december	PROPN
fsr-3489	261	35	2010	2010	NUM
fsr-3489	261	36	,	,	PUNCT
fsr-3489	261	37	at	at	ADP
fsr-3489	261	38	the	the	DET
fsr-3489	261	39	5	5	NUM
fsr-3489	261	40	%	%	NOUN
fsr-3489	261	41	level	level	NOUN
fsr-3489	261	42	.	.	PUNCT
fsr-3489	262	1	259c.y	259c.y	X
fsr-3489	262	2	.	.	PUNCT
fsr-3489	263	1	lin	lin	PROPN
fsr-3489	263	2	/	/	SYM
fsr-3489	263	3	financial	financial	ADJ
fsr-3489	263	4	services	service	NOUN
fsr-3489	263	5	review	review	VERB
fsr-3489	263	6	23	23	NUM
fsr-3489	263	7	(	(	PUNCT
fsr-3489	263	8	2014	2014	NUM
fsr-3489	263	9	)	)	PUNCT
fsr-3489	264	1	249–271	249–271	NUM
fsr-3489	264	2	fama	fama	NOUN
fsr-3489	264	3	-	-	PUNCT
fsr-3489	264	4	french	french	ADJ
fsr-3489	264	5	three	three	NUM
fsr-3489	264	6	-	-	PUNCT
fsr-3489	264	7	factor	factor	NOUN
fsr-3489	264	8	model	model	NOUN
fsr-3489	264	9	is	be	AUX
fsr-3489	264	10	also	also	ADV
fsr-3489	264	11	modified	modify	VERB
fsr-3489	264	12	by	by	ADP
fsr-3489	264	13	replacing	replace	VERB
fsr-3489	264	14	excess	excess	ADJ
fsr-3489	264	15	market	market	NOUN
fsr-3489	264	16	return	return	NOUN
fsr-3489	264	17	with	with	ADP
fsr-3489	264	18	excess	excess	ADJ
fsr-3489	264	19	spy	spy	NOUN
fsr-3489	264	20	return	return	NOUN
fsr-3489	264	21	:	:	PUNCT
fsr-3489	264	22	ri	ri	PROPN
fsr-3489	264	23	,	,	PUNCT
fsr-3489	264	24	t	t	PROPN
fsr-3489	264	25	$	$	SYM
fsr-3489	264	26	rf	rf	PROPN
fsr-3489	264	27	,	,	PUNCT
fsr-3489	264	28	t	t	NOUN
fsr-3489	264	29	"	"	PUNCT
fsr-3489	264	30	!	!	PUNCT
fsr-3489	265	1	i	i	PRON
fsr-3489	265	2	#	#	NOUN
fsr-3489	265	3	%	%	NOUN
fsr-3489	265	4	i#rspy	i#rspy	PROPN
fsr-3489	265	5	,	,	PUNCT
fsr-3489	265	6	t	t	PROPN
fsr-3489	265	7	$	$	SYM
fsr-3489	265	8	rf	rf	PROPN
fsr-3489	265	9	,	,	PUNCT
fsr-3489	265	10	t$	t$	VERB
fsr-3489	265	11	#	#	NOUN
fsr-3489	265	12	hihmlt	hihmlt	NOUN
fsr-3489	265	13	#	#	NOUN
fsr-3489	265	14	sismbt	sismbt	NOUN
fsr-3489	265	15	#	#	NOUN
fsr-3489	265	16	&	&	CCONJ
fsr-3489	265	17	i	i	PROPN
fsr-3489	265	18	,	,	PUNCT
fsr-3489	265	19	t	t	PROPN
fsr-3489	265	20	(	(	PUNCT
fsr-3489	265	21	3	3	NUM
fsr-3489	265	22	)	)	PUNCT
fsr-3489	265	23	where	where	SCONJ
fsr-3489	265	24	hml	hml	PROPN
fsr-3489	265	25	(	(	PUNCT
fsr-3489	265	26	high	high	ADJ
fsr-3489	265	27	minus	minus	CCONJ
fsr-3489	265	28	low	low	ADJ
fsr-3489	265	29	)	)	PUNCT
fsr-3489	265	30	is	be	AUX
fsr-3489	265	31	the	the	DET
fsr-3489	265	32	average	average	ADJ
fsr-3489	265	33	return	return	NOUN
fsr-3489	265	34	on	on	ADP
fsr-3489	265	35	two	two	NUM
fsr-3489	265	36	value	value	NOUN
fsr-3489	265	37	portfolios	portfolio	NOUN
fsr-3489	265	38	minus	minus	CCONJ
fsr-3489	265	39	the	the	DET
fsr-3489	265	40	average	average	ADJ
fsr-3489	265	41	return	return	NOUN
fsr-3489	265	42	on	on	ADP
fsr-3489	265	43	two	two	NUM
fsr-3489	265	44	growth	growth	NOUN
fsr-3489	265	45	portfolios	portfolio	NOUN
fsr-3489	265	46	and	and	CCONJ
fsr-3489	265	47	smb	smb	NOUN
fsr-3489	265	48	(	(	PUNCT
fsr-3489	265	49	small	small	ADJ
fsr-3489	265	50	minus	minus	CCONJ
fsr-3489	265	51	big	big	ADJ
fsr-3489	265	52	)	)	PUNCT
fsr-3489	265	53	is	be	AUX
fsr-3489	265	54	the	the	DET
fsr-3489	265	55	average	average	ADJ
fsr-3489	265	56	return	return	NOUN
fsr-3489	265	57	on	on	ADP
fsr-3489	265	58	three	three	NUM
fsr-3489	265	59	small	small	ADJ
fsr-3489	265	60	portfolios	portfolio	NOUN
fsr-3489	265	61	minus	minus	ADP
fsr-3489	265	62	the	the	DET
fsr-3489	265	63	average	average	ADJ
fsr-3489	265	64	return	return	NOUN
fsr-3489	265	65	on	on	ADP
fsr-3489	265	66	three	three	NUM
fsr-3489	265	67	big	big	ADJ
fsr-3489	265	68	portfolios	portfolio	NOUN
fsr-3489	265	69	(	(	PUNCT
fsr-3489	265	70	fama	fama	NOUN
fsr-3489	265	71	and	and	CCONJ
fsr-3489	265	72	french	french	ADJ
fsr-3489	265	73	1993	1993	NUM
fsr-3489	265	74	)	)	PUNCT
fsr-3489	265	75	.	.	PUNCT
fsr-3489	266	1	the	the	DET
fsr-3489	266	2	data	datum	NOUN
fsr-3489	266	3	are	be	AUX
fsr-3489	266	4	downloaded	download	VERB
fsr-3489	266	5	from	from	ADP
fsr-3489	266	6	kenneth	kenneth	PROPN
fsr-3489	266	7	r.	r.	PROPN
fsr-3489	266	8	french	french	PROPN
fsr-3489	266	9	data	data	PROPN
fsr-3489	266	10	library.13	library.13	VERB
fsr-3489	266	11	results	result	NOUN
fsr-3489	266	12	in	in	ADP
fsr-3489	266	13	table	table	NOUN
fsr-3489	266	14	6	6	NUM
fsr-3489	266	15	show	show	VERB
fsr-3489	266	16	that	that	SCONJ
fsr-3489	266	17	over	over	ADP
fsr-3489	266	18	the	the	DET
fsr-3489	266	19	full	full	ADJ
fsr-3489	266	20	sample	sample	NOUN
fsr-3489	266	21	period	period	NOUN
fsr-3489	266	22	two	two	NUM
fsr-3489	266	23	sector	sector	NOUN
fsr-3489	266	24	mfs	mfs	NOUN
fsr-3489	266	25	(	(	PUNCT
fsr-3489	266	26	materials	material	NOUN
fsr-3489	266	27	and	and	CCONJ
fsr-3489	266	28	technology	technology	NOUN
fsr-3489	266	29	)	)	PUNCT
fsr-3489	266	30	have	have	VERB
fsr-3489	266	31	a	a	DET
fsr-3489	266	32	positive	positive	ADJ
fsr-3489	266	33	!	!	PUNCT
fsr-3489	267	1	at	at	ADP
fsr-3489	267	2	the	the	DET
fsr-3489	267	3	5	5	NUM
fsr-3489	267	4	%	%	NOUN
fsr-3489	267	5	level	level	NOUN
fsr-3489	267	6	.	.	PUNCT
fsr-3489	268	1	none	none	NOUN
fsr-3489	268	2	of	of	ADP
fsr-3489	268	3	the	the	DET
fsr-3489	268	4	etfs	etfs	PROPN
fsr-3489	268	5	has	have	VERB
fsr-3489	268	6	a	a	DET
fsr-3489	268	7	significant	significant	ADJ
fsr-3489	268	8	!	!	PUNCT
fsr-3489	269	1	at	at	ADP
fsr-3489	269	2	the	the	DET
fsr-3489	269	3	5	5	NUM
fsr-3489	269	4	%	%	NOUN
fsr-3489	269	5	level	level	NOUN
fsr-3489	269	6	.	.	PUNCT
fsr-3489	270	1	all	all	DET
fsr-3489	270	2	%	%	NOUN
fsr-3489	270	3	s	s	VERB
fsr-3489	270	4	are	be	AUX
fsr-3489	270	5	significant	significant	ADJ
fsr-3489	270	6	at	at	ADP
fsr-3489	270	7	the	the	DET
fsr-3489	270	8	1	1	NUM
fsr-3489	270	9	%	%	NOUN
fsr-3489	270	10	level	level	NOUN
fsr-3489	270	11	with	with	ADP
fsr-3489	270	12	the	the	DET
fsr-3489	270	13	same	same	ADJ
fsr-3489	270	14	above	above	ADP
fsr-3489	270	15	/	/	SYM
fsr-3489	270	16	below	below	ADP
fsr-3489	270	17	1	1	NUM
fsr-3489	270	18	%	%	NOUN
fsr-3489	270	19	distribution	distribution	NOUN
fsr-3489	270	20	as	as	ADP
fsr-3489	270	21	in	in	ADP
fsr-3489	270	22	table	table	NOUN
fsr-3489	270	23	5	5	NUM
fsr-3489	270	24	.	.	PUNCT
fsr-3489	271	1	hml	hml	PROPN
fsr-3489	271	2	is	be	AUX
fsr-3489	271	3	not	not	PART
fsr-3489	271	4	significant	significant	ADJ
fsr-3489	271	5	for	for	ADP
fsr-3489	271	6	the	the	DET
fsr-3489	271	7	healthcare	healthcare	NOUN
fsr-3489	271	8	mf	mf	X
fsr-3489	271	9	and	and	CCONJ
fsr-3489	271	10	etf	etf	NOUN
fsr-3489	271	11	,	,	PUNCT
fsr-3489	271	12	and	and	CCONJ
fsr-3489	271	13	it	it	PRON
fsr-3489	271	14	is	be	AUX
fsr-3489	271	15	significantly	significantly	ADV
fsr-3489	271	16	negative	negative	ADJ
fsr-3489	271	17	for	for	ADP
fsr-3489	271	18	three	three	NUM
fsr-3489	271	19	funds	fund	NOUN
fsr-3489	271	20	(	(	PUNCT
fsr-3489	271	21	technology	technology	NOUN
fsr-3489	271	22	mf	mf	NOUN
fsr-3489	271	23	and	and	CCONJ
fsr-3489	271	24	etf	etf	NOUN
fsr-3489	271	25	,	,	PUNCT
fsr-3489	271	26	and	and	CCONJ
fsr-3489	271	27	utilities	utility	NOUN
fsr-3489	271	28	mf	mf	NOUN
fsr-3489	271	29	)	)	PUNCT
fsr-3489	271	30	.	.	PUNCT
fsr-3489	272	1	the	the	DET
fsr-3489	272	2	smb	smb	PROPN
fsr-3489	272	3	,	,	PUNCT
fsr-3489	272	4	size	size	NOUN
fsr-3489	272	5	factor	factor	NOUN
fsr-3489	272	6	,	,	PUNCT
fsr-3489	272	7	is	be	AUX
fsr-3489	272	8	the	the	DET
fsr-3489	272	9	least	least	ADV
fsr-3489	272	10	significant	significant	ADJ
fsr-3489	272	11	factor	factor	NOUN
fsr-3489	272	12	of	of	ADP
fsr-3489	272	13	the	the	DET
fsr-3489	272	14	three	three	NUM
fsr-3489	272	15	:	:	PUNCT
fsr-3489	272	16	only	only	ADV
fsr-3489	272	17	seven	seven	NUM
fsr-3489	272	18	out	out	ADP
fsr-3489	272	19	of	of	ADP
fsr-3489	272	20	18	18	NUM
fsr-3489	272	21	funds	fund	NOUN
fsr-3489	272	22	have	have	VERB
fsr-3489	272	23	a	a	DET
fsr-3489	272	24	significant	significant	ADJ
fsr-3489	272	25	coefficient	coefficient	NOUN
fsr-3489	272	26	.	.	PUNCT
fsr-3489	273	1	during	during	ADP
fsr-3489	273	2	the	the	DET
fsr-3489	273	3	first	first	ADJ
fsr-3489	273	4	half	half	ADJ
fsr-3489	273	5	sample	sample	NOUN
fsr-3489	273	6	period	period	NOUN
fsr-3489	273	7	,	,	PUNCT
fsr-3489	273	8	none	none	NOUN
fsr-3489	273	9	of	of	ADP
fsr-3489	273	10	the	the	DET
fsr-3489	273	11	mfs	mfs	PROPN
fsr-3489	273	12	or	or	CCONJ
fsr-3489	273	13	etfs	etfs	PROPN
fsr-3489	273	14	generates	generate	VERB
fsr-3489	273	15	a	a	DET
fsr-3489	273	16	positive	positive	ADJ
fsr-3489	273	17	!	!	PUNCT
fsr-3489	274	1	at	at	ADP
fsr-3489	274	2	the	the	DET
fsr-3489	274	3	5	5	NUM
fsr-3489	274	4	%	%	NOUN
fsr-3489	274	5	level	level	NOUN
fsr-3489	274	6	.	.	PUNCT
fsr-3489	275	1	fewer	few	ADJ
fsr-3489	275	2	hml	hml	PROPN
fsr-3489	275	3	and	and	CCONJ
fsr-3489	275	4	smb	smb	PROPN
fsr-3489	275	5	coefficients	coefficient	NOUN
fsr-3489	275	6	are	be	AUX
fsr-3489	275	7	significant	significant	ADJ
fsr-3489	275	8	.	.	PUNCT
fsr-3489	276	1	during	during	ADP
fsr-3489	276	2	the	the	DET
fsr-3489	276	3	second	second	ADJ
fsr-3489	276	4	half	half	NOUN
fsr-3489	276	5	sample	sample	NOUN
fsr-3489	276	6	table	table	NOUN
fsr-3489	276	7	5	5	NUM
fsr-3489	276	8	one	one	NUM
fsr-3489	276	9	factor	factor	NOUN
fsr-3489	276	10	model	model	NOUN
fsr-3489	276	11	results	result	NOUN
fsr-3489	276	12	using	use	VERB
fsr-3489	276	13	spy	spy	NOUN
fsr-3489	276	14	excess	excess	ADJ
fsr-3489	276	15	return	return	NOUN
fsr-3489	276	16	,	,	PUNCT
fsr-3489	276	17	january	january	PROPN
fsr-3489	276	18	1999	1999	NUM
fsr-3489	276	19	through	through	ADP
fsr-3489	276	20	december	december	PROPN
fsr-3489	276	21	2010	2010	NUM
fsr-3489	276	22	fund	fund	NOUN
fsr-3489	276	23	!	!	PUNCT
fsr-3489	277	1	%	%	INTJ
fsr-3489	277	2	adjusted	adjust	VERB
fsr-3489	277	3	r2	r2	PROPN
fsr-3489	277	4	estimate	estimate	NOUN
fsr-3489	277	5	se	se	PROPN
fsr-3489	277	6	t	t	PROPN
fsr-3489	277	7	-	-	PUNCT
fsr-3489	277	8	value	value	NOUN
fsr-3489	277	9	estimate	estimate	NOUN
fsr-3489	277	10	se	se	PROPN
fsr-3489	277	11	t	t	PROPN
fsr-3489	277	12	-	-	PUNCT
fsr-3489	277	13	value	value	NOUN
fsr-3489	277	14	bbb	bbb	PROPN
fsr-3489	277	15	0.988	0.988	NUM
fsr-3489	277	16	0.362	0.362	NUM
fsr-3489	277	17	2.727	2.727	NUM
fsr-3489	277	18	*	*	PUNCT
fsr-3489	277	19	*	*	PUNCT
fsr-3489	277	20	*	*	PUNCT
fsr-3489	277	21	1.121	1.121	NUM
fsr-3489	277	22	0.078	0.078	NUM
fsr-3489	277	23	14.379	14.379	NUM
fsr-3489	277	24	*	*	PUNCT
fsr-3489	277	25	*	*	PUNCT
fsr-3489	277	26	*	*	X
fsr-3489	277	27	0.590	0.590	NUM
fsr-3489	277	28	xlb	xlb	PROPN
fsr-3489	277	29	0.512	0.512	NUM
fsr-3489	277	30	0.347	0.347	NUM
fsr-3489	277	31	1.475	1.475	NUM
fsr-3489	277	32	1.145	1.145	NUM
fsr-3489	277	33	0.075	0.075	NUM
fsr-3489	277	34	15.321	15.321	NUM
fsr-3489	277	35	*	*	PUNCT
fsr-3489	277	36	*	*	PUNCT
fsr-3489	277	37	*	*	PUNCT
fsr-3489	277	38	0.620	0.620	NUM
fsr-3489	277	39	eee	eee	NOUN
fsr-3489	277	40	1.064	1.064	NUM
fsr-3489	277	41	0.491	0.491	NUM
fsr-3489	277	42	2.164	2.164	NUM
fsr-3489	277	43	*	*	NOUN
fsr-3489	277	44	*	*	PUNCT
fsr-3489	277	45	0.962	0.962	NUM
fsr-3489	277	46	0.106	0.106	NUM
fsr-3489	277	47	9.086	9.086	NUM
fsr-3489	277	48	*	*	PUNCT
fsr-3489	277	49	*	*	PUNCT
fsr-3489	277	50	*	*	PROPN
fsr-3489	277	51	0.363	0.363	NUM
fsr-3489	277	52	xle	xle	PROPN
fsr-3489	277	53	0.821	0.821	NUM
fsr-3489	277	54	0.436	0.436	NUM
fsr-3489	277	55	1.882	1.882	NUM
fsr-3489	277	56	0.834	0.834	NUM
fsr-3489	277	57	0.094	0.094	NUM
fsr-3489	277	58	8.880	8.880	NUM
fsr-3489	277	59	*	*	PUNCT
fsr-3489	277	60	*	*	PUNCT
fsr-3489	277	61	*	*	PUNCT
fsr-3489	277	62	0.352	0.352	NUM
fsr-3489	277	63	fff	fff	PROPN
fsr-3489	277	64	"	"	PUNCT
fsr-3489	277	65	0.005	0.005	NUM
fsr-3489	277	66	0.309	0.309	NUM
fsr-3489	277	67	"	"	PUNCT
fsr-3489	277	68	0.018	0.018	NUM
fsr-3489	277	69	1.074	1.074	NUM
fsr-3489	277	70	0.067	0.067	NUM
fsr-3489	277	71	16.126	16.126	NUM
fsr-3489	277	72	*	*	PUNCT
fsr-3489	277	73	*	*	PUNCT
fsr-3489	277	74	*	*	PUNCT
fsr-3489	277	75	0.644	0.644	NUM
fsr-3489	277	76	xlf	xlf	PROPN
fsr-3489	277	77	"	"	PUNCT
fsr-3489	277	78	0.134	0.134	NUM
fsr-3489	277	79	0.345	0.345	NUM
fsr-3489	277	80	"	"	PUNCT
fsr-3489	277	81	0.387	0.387	NUM
fsr-3489	277	82	1.183	1.183	NUM
fsr-3489	277	83	0.074	0.074	NUM
fsr-3489	277	84	15.921	15.921	NUM
fsr-3489	277	85	*	*	PUNCT
fsr-3489	277	86	*	*	PUNCT
fsr-3489	277	87	*	*	PUNCT
fsr-3489	277	88	0.638	0.638	NUM
fsr-3489	277	89	iii	iii	NUM
fsr-3489	277	90	0.272	0.272	NUM
fsr-3489	277	91	0.230	0.230	NUM
fsr-3489	277	92	1.183	1.183	NUM
fsr-3489	277	93	1.164	1.164	NUM
fsr-3489	277	94	0.052	0.052	NUM
fsr-3489	277	95	22.589	22.589	NUM
fsr-3489	277	96	*	*	PUNCT
fsr-3489	277	97	*	*	PUNCT
fsr-3489	277	98	*	*	PUNCT
fsr-3489	277	99	0.789	0.789	NUM
fsr-3489	277	100	xli	xli	PROPN
fsr-3489	277	101	0.672	0.672	NUM
fsr-3489	277	102	0.242	0.242	NUM
fsr-3489	277	103	2.782	2.782	NUM
fsr-3489	277	104	*	*	PUNCT
fsr-3489	277	105	*	*	PUNCT
fsr-3489	277	106	*	*	PUNCT
fsr-3489	277	107	1.112	1.112	NUM
fsr-3489	277	108	0.050	0.050	NUM
fsr-3489	277	109	22.444	22.444	NUM
fsr-3489	277	110	*	*	PUNCT
fsr-3489	277	111	*	*	PUNCT
fsr-3489	277	112	*	*	X
fsr-3489	277	113	0.778	0.778	NUM
fsr-3489	277	114	kkk	kkk	PROPN
fsr-3489	277	115	0.606	0.606	NUM
fsr-3489	277	116	0.522	0.522	NUM
fsr-3489	277	117	1.162	1.162	NUM
fsr-3489	277	118	1.711	1.711	NUM
fsr-3489	277	119	0.112	0.112	NUM
fsr-3489	277	120	15.228	15.228	NUM
fsr-3489	277	121	*	*	PUNCT
fsr-3489	277	122	*	*	PUNCT
fsr-3489	277	123	*	*	PUNCT
fsr-3489	277	124	0.617	0.617	NUM
fsr-3489	277	125	xlk	xlk	PROPN
fsr-3489	277	126	"	"	PUNCT
fsr-3489	277	127	0.071	0.071	NUM
fsr-3489	277	128	0.359	0.359	NUM
fsr-3489	277	129	"	"	PUNCT
fsr-3489	277	130	0.197	0.197	NUM
fsr-3489	277	131	1.466	1.466	NUM
fsr-3489	277	132	0.077	0.077	NUM
fsr-3489	277	133	18.977	18.977	NUM
fsr-3489	277	134	*	*	PUNCT
fsr-3489	277	135	*	*	PUNCT
fsr-3489	277	136	*	*	X
fsr-3489	277	137	0.715	0.715	NUM
fsr-3489	277	138	ppp	ppp	NOUN
fsr-3489	277	139	0.349	0.349	NUM
fsr-3489	277	140	0.248	0.248	NUM
fsr-3489	277	141	1.407	1.407	NUM
fsr-3489	277	142	0.485	0.485	NUM
fsr-3489	277	143	0.053	0.053	NUM
fsr-3489	277	144	9.092	9.092	NUM
fsr-3489	277	145	*	*	PUNCT
fsr-3489	277	146	*	*	PUNCT
fsr-3489	277	147	*	*	PUNCT
fsr-3489	277	148	0.363	0.363	NUM
fsr-3489	277	149	xlp	xlp	NOUN
fsr-3489	277	150	0.025	0.025	NUM
fsr-3489	277	151	0.256	0.256	NUM
fsr-3489	277	152	0.097	0.097	NUM
fsr-3489	277	153	0.451	0.451	NUM
fsr-3489	277	154	0.055	0.055	NUM
fsr-3489	277	155	8.186	8.186	NUM
fsr-3489	277	156	*	*	PUNCT
fsr-3489	277	157	*	*	PUNCT
fsr-3489	277	158	*	*	PUNCT
fsr-3489	277	159	0.315	0.315	NUM
fsr-3489	277	160	uuu	uuu	NOUN
fsr-3489	277	161	0.035	0.035	NUM
fsr-3489	277	162	0.278	0.278	NUM
fsr-3489	277	163	0.127	0.127	NUM
fsr-3489	277	164	0.807	0.807	NUM
fsr-3489	277	165	0.060	0.060	NUM
fsr-3489	277	166	13.463	13.463	NUM
fsr-3489	277	167	*	*	PUNCT
fsr-3489	277	168	*	*	PUNCT
fsr-3489	277	169	*	*	PUNCT
fsr-3489	277	170	0.557	0.557	NUM
fsr-3489	277	171	xlu	xlu	PROPN
fsr-3489	277	172	0.165	0.165	NUM
fsr-3489	277	173	0.339	0.339	NUM
fsr-3489	277	174	0.486	0.486	NUM
fsr-3489	277	175	0.497	0.497	NUM
fsr-3489	277	176	0.073	0.073	NUM
fsr-3489	277	177	6.807	6.807	NUM
fsr-3489	277	178	*	*	PUNCT
fsr-3489	277	179	*	*	PUNCT
fsr-3489	277	180	*	*	PUNCT
fsr-3489	277	181	0.240	0.240	NUM
fsr-3489	277	182	vvv	vvv	NOUN
fsr-3489	277	183	0.202	0.202	NUM
fsr-3489	277	184	0.268	0.268	NUM
fsr-3489	277	185	0.755	0.755	NUM
fsr-3489	277	186	0.574	0.574	NUM
fsr-3489	277	187	0.058	0.058	NUM
fsr-3489	277	188	9.950	9.950	NUM
fsr-3489	277	189	*	*	PUNCT
fsr-3489	277	190	*	*	PUNCT
fsr-3489	277	191	*	*	PUNCT
fsr-3489	277	192	0.406	0.406	NUM
fsr-3489	277	193	xlv	xlv	PROPN
fsr-3489	277	194	0.066	0.066	NUM
fsr-3489	277	195	0.223	0.223	NUM
fsr-3489	277	196	0.296	0.296	NUM
fsr-3489	277	197	0.718	0.718	NUM
fsr-3489	277	198	0.048	0.048	NUM
fsr-3489	277	199	14.963	14.963	NUM
fsr-3489	277	200	*	*	PUNCT
fsr-3489	277	201	*	*	PUNCT
fsr-3489	277	202	*	*	NOUN
fsr-3489	277	203	0.609	0.609	NUM
fsr-3489	277	204	yyy	yyy	NOUN
fsr-3489	277	205	0.078	0.078	NUM
fsr-3489	277	206	0.209	0.209	NUM
fsr-3489	277	207	0.374	0.374	NUM
fsr-3489	277	208	0.903	0.903	NUM
fsr-3489	277	209	0.045	0.045	NUM
fsr-3489	277	210	20.058	20.058	NUM
fsr-3489	277	211	*	*	PUNCT
fsr-3489	277	212	*	*	PUNCT
fsr-3489	277	213	*	*	PROPN
fsr-3489	277	214	0.737	0.737	NUM
fsr-3489	277	215	xly	xly	X
fsr-3489	277	216	0.231	0.231	NUM
fsr-3489	277	217	0.256	0.256	NUM
fsr-3489	277	218	0.902	0.902	NUM
fsr-3489	277	219	1.082	1.082	NUM
fsr-3489	277	220	0.055	0.055	NUM
fsr-3489	277	221	19.611	19.611	NUM
fsr-3489	277	222	*	*	PUNCT
fsr-3489	277	223	*	*	PUNCT
fsr-3489	277	224	*	*	SYM
fsr-3489	277	225	0.728	0.728	NUM
fsr-3489	277	226	note	note	NOUN
fsr-3489	277	227	:	:	PUNCT
fsr-3489	277	228	bbb	bbb	NUM
fsr-3489	277	229	,	,	PUNCT
fsr-3489	277	230	eee	eee	PROPN
fsr-3489	277	231	,	,	PUNCT
fsr-3489	277	232	fff	fff	PROPN
fsr-3489	277	233	,	,	PUNCT
fsr-3489	277	234	iii	iii	PROPN
fsr-3489	277	235	,	,	PUNCT
fsr-3489	277	236	kkk	kkk	PROPN
fsr-3489	277	237	,	,	PUNCT
fsr-3489	277	238	ppp	ppp	PROPN
fsr-3489	277	239	,	,	PUNCT
fsr-3489	277	240	uuu	uuu	PROPN
fsr-3489	277	241	,	,	PUNCT
fsr-3489	277	242	vvv	vvv	PROPN
fsr-3489	277	243	,	,	PUNCT
fsr-3489	277	244	and	and	CCONJ
fsr-3489	277	245	yyy	yyy	PROPN
fsr-3489	277	246	represent	represent	VERB
fsr-3489	277	247	the	the	DET
fsr-3489	277	248	fidelity	fidelity	PROPN
fsr-3489	277	249	select	select	PROPN
fsr-3489	277	250	portfolio	portfolio	NOUN
fsr-3489	277	251	mutual	mutual	ADJ
fsr-3489	277	252	funds	fund	NOUN
fsr-3489	277	253	for	for	ADP
fsr-3489	277	254	the	the	DET
fsr-3489	277	255	materials	material	NOUN
fsr-3489	277	256	sector	sector	NOUN
fsr-3489	277	257	,	,	PUNCT
fsr-3489	277	258	the	the	DET
fsr-3489	277	259	energy	energy	NOUN
fsr-3489	277	260	sector	sector	NOUN
fsr-3489	277	261	,	,	PUNCT
fsr-3489	277	262	the	the	DET
fsr-3489	277	263	financial	financial	ADJ
fsr-3489	277	264	sector	sector	NOUN
fsr-3489	277	265	,	,	PUNCT
fsr-3489	277	266	the	the	DET
fsr-3489	277	267	industrials	industrial	NOUN
fsr-3489	277	268	sector	sector	NOUN
fsr-3489	277	269	,	,	PUNCT
fsr-3489	277	270	the	the	DET
fsr-3489	277	271	technology	technology	NOUN
fsr-3489	277	272	sector	sector	NOUN
fsr-3489	277	273	,	,	PUNCT
fsr-3489	277	274	the	the	DET
fsr-3489	277	275	consumer	consumer	NOUN
fsr-3489	277	276	staples	staple	NOUN
fsr-3489	277	277	sector	sector	NOUN
fsr-3489	277	278	,	,	PUNCT
fsr-3489	277	279	the	the	DET
fsr-3489	277	280	utilities	utility	NOUN
fsr-3489	277	281	sector	sector	NOUN
fsr-3489	277	282	,	,	PUNCT
fsr-3489	277	283	the	the	DET
fsr-3489	277	284	healthcare	healthcare	NOUN
fsr-3489	277	285	sector	sector	NOUN
fsr-3489	277	286	,	,	PUNCT
fsr-3489	277	287	and	and	CCONJ
fsr-3489	277	288	the	the	DET
fsr-3489	277	289	consumer	consumer	NOUN
fsr-3489	277	290	discretionary	discretionary	ADJ
fsr-3489	277	291	sector	sector	NOUN
fsr-3489	277	292	,	,	PUNCT
fsr-3489	277	293	respectively	respectively	ADV
fsr-3489	277	294	.	.	PUNCT
fsr-3489	278	1	xlb	xlb	PROPN
fsr-3489	278	2	,	,	PUNCT
fsr-3489	278	3	xle	xle	PROPN
fsr-3489	278	4	,	,	PUNCT
fsr-3489	278	5	xlf	xlf	PROPN
fsr-3489	278	6	,	,	PUNCT
fsr-3489	278	7	xli	xli	PROPN
fsr-3489	278	8	,	,	PUNCT
fsr-3489	278	9	xlk	xlk	PROPN
fsr-3489	278	10	,	,	PUNCT
fsr-3489	278	11	xlp	xlp	PROPN
fsr-3489	278	12	,	,	PUNCT
fsr-3489	278	13	xlu	xlu	ADJ
fsr-3489	278	14	,	,	PUNCT
fsr-3489	278	15	xlv	xlv	PROPN
fsr-3489	278	16	,	,	PUNCT
fsr-3489	278	17	and	and	CCONJ
fsr-3489	278	18	xly	xly	PROPN
fsr-3489	278	19	represent	represent	VERB
fsr-3489	278	20	the	the	DET
fsr-3489	278	21	select	select	ADJ
fsr-3489	278	22	sector	sector	NOUN
fsr-3489	278	23	spdr	spdr	PROPN
fsr-3489	278	24	etfs	etfs	PROPN
fsr-3489	278	25	for	for	ADP
fsr-3489	278	26	these	these	DET
fsr-3489	278	27	nine	nine	NUM
fsr-3489	278	28	sectors	sector	NOUN
fsr-3489	278	29	,	,	PUNCT
fsr-3489	278	30	respectively	respectively	ADV
fsr-3489	278	31	.	.	PUNCT
fsr-3489	279	1	spy	spy	NOUN
fsr-3489	279	2	represents	represent	VERB
fsr-3489	279	3	the	the	DET
fsr-3489	279	4	spdr	spdr	NOUN
fsr-3489	279	5	s&p	s&p	PROPN
fsr-3489	279	6	500	500	NUM
fsr-3489	279	7	trust	trust	NOUN
fsr-3489	279	8	.	.	PUNCT
fsr-3489	280	1	*	*	PUNCT
fsr-3489	281	1	*	*	PUNCT
fsr-3489	281	2	*	*	PUNCT
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fsr-3489	281	4	at	at	ADP
fsr-3489	281	5	the	the	DET
fsr-3489	281	6	1	1	NUM
fsr-3489	281	7	%	%	NOUN
fsr-3489	281	8	level	level	NOUN
fsr-3489	281	9	.	.	PUNCT
fsr-3489	282	1	*	*	PUNCT
fsr-3489	282	2	*	*	PUNCT
fsr-3489	282	3	significant	significant	ADJ
fsr-3489	282	4	at	at	ADP
fsr-3489	282	5	the	the	DET
fsr-3489	282	6	5	5	NUM
fsr-3489	282	7	%	%	NOUN
fsr-3489	282	8	level	level	NOUN
fsr-3489	282	9	.	.	PUNCT
fsr-3489	283	1	260	260	NUM
fsr-3489	283	2	c.y	c.y	PROPN
fsr-3489	283	3	.	.	PROPN
fsr-3489	283	4	lin	lin	PROPN
fsr-3489	283	5	/	/	SYM
fsr-3489	283	6	financial	financial	ADJ
fsr-3489	283	7	services	service	NOUN
fsr-3489	283	8	review	review	VERB
fsr-3489	283	9	23	23	NUM
fsr-3489	283	10	(	(	PUNCT
fsr-3489	283	11	2014	2014	NUM
fsr-3489	283	12	)	)	PUNCT
fsr-3489	284	1	249–271	249–271	NUM
fsr-3489	284	2	t	t	PROPN
fsr-3489	284	3	ab	ab	X
fsr-3489	284	4	le	le	PROPN
fsr-3489	284	5	6	6	NUM
fsr-3489	284	6	t	t	PROPN
fsr-3489	284	7	hr	hr	NOUN
fsr-3489	284	8	ee	ee	INTJ
fsr-3489	284	9	fa	fa	PROPN
fsr-3489	285	1	ct	ct	PROPN
fsr-3489	286	1	or	or	CCONJ
fsr-3489	286	2	re	re	ADJ
fsr-3489	286	3	gr	gr	VERB
fsr-3489	286	4	es	es	X
fsr-3489	286	5	si	si	X
fsr-3489	286	6	on	on	ADP
fsr-3489	286	7	re	re	PROPN
fsr-3489	286	8	su	su	PROPN
fsr-3489	286	9	lts	lts	VERB
fsr-3489	286	10	us	we	PRON
fsr-3489	286	11	in	in	ADP
fsr-3489	286	12	g	g	PROPN
fsr-3489	286	13	sp	sp	ADP
fsr-3489	286	14	y	y	PROPN
fsr-3489	286	15	ex	ex	PROPN
fsr-3489	286	16	ce	ce	PROPN
fsr-3489	286	17	ss	ss	PROPN
fsr-3489	286	18	re	re	PROPN
fsr-3489	286	19	tu	tu	PROPN
fsr-3489	286	20	rn	rn	PROPN
fsr-3489	286	21	,	,	PUNCT
fsr-3489	286	22	j	j	PROPN
fsr-3489	286	23	an	an	DET
fsr-3489	286	24	ua	ua	PROPN
fsr-3489	286	25	ry	ry	PROPN
fsr-3489	286	26	19	19	NUM
fsr-3489	286	27	99	99	NUM
fsr-3489	286	28	th	th	NOUN
fsr-3489	286	29	ro	ro	NOUN
fsr-3489	286	30	ug	ug	ADP
fsr-3489	286	31	h	h	PROPN
fsr-3489	287	1	d	d	PROPN
fsr-3489	287	2	ec	ec	PROPN
fsr-3489	287	3	em	em	PRON
fsr-3489	287	4	be	be	VERB
fsr-3489	287	5	r	r	NOUN
fsr-3489	287	6	20	20	NUM
fsr-3489	287	7	10	10	NUM
fsr-3489	287	8	fu	fu	NOUN
fsr-3489	287	9	nd	nd	INTJ
fsr-3489	287	10	!	!	PUNCT
fsr-3489	288	1	%	%	INTJ
fsr-3489	289	1	h	h	NOUN
fsr-3489	289	2	m	m	VERB
fsr-3489	289	3	l	l	NOUN
fsr-3489	290	1	sm	sm	PROPN
fsr-3489	290	2	b	b	PROPN
fsr-3489	290	3	a	a	DET
fsr-3489	290	4	dj	dj	NOUN
fsr-3489	290	5	us	we	PRON
fsr-3489	290	6	te	te	PROPN
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fsr-3489	290	8	r	r	NOUN
fsr-3489	290	9	2	2	NUM
fsr-3489	290	10	e	e	NOUN
fsr-3489	290	11	st	st	PROPN
fsr-3489	290	12	i	i	X
fsr-3489	290	13	m	m	VERB
fsr-3489	290	14	at	at	ADP
fsr-3489	290	15	e	e	PROPN
fsr-3489	290	16	se	se	PROPN
fsr-3489	290	17	tva	tva	PROPN
fsr-3489	290	18	lu	lu	PROPN
fsr-3489	290	19	e	e	PROPN
fsr-3489	290	20	e	e	X
fsr-3489	290	21	st	st	PROPN
fsr-3489	290	22	i	i	X
fsr-3489	290	23	m	m	VERB
fsr-3489	290	24	at	at	ADP
fsr-3489	290	25	e	e	PROPN
fsr-3489	290	26	se	se	PROPN
fsr-3489	290	27	tva	tva	PROPN
fsr-3489	290	28	lu	lu	PROPN
fsr-3489	290	29	e	e	PROPN
fsr-3489	290	30	e	e	X
fsr-3489	290	31	st	st	PROPN
fsr-3489	290	32	i	i	X
fsr-3489	290	33	m	m	VERB
fsr-3489	290	34	at	at	ADP
fsr-3489	290	35	e	e	PROPN
fsr-3489	290	36	se	se	PROPN
fsr-3489	290	37	tva	tva	PROPN
fsr-3489	290	38	lu	lu	PROPN
fsr-3489	290	39	e	e	PROPN
fsr-3489	290	40	e	e	X
fsr-3489	290	41	st	st	PROPN
fsr-3489	290	42	i	i	X
fsr-3489	290	43	m	m	VERB
fsr-3489	290	44	at	at	ADP
fsr-3489	290	45	e	e	PROPN
fsr-3489	290	46	se	se	PROPN
fsr-3489	290	47	tva	tva	PROPN
fsr-3489	290	48	lu	lu	PROPN
fsr-3489	290	49	e	e	PROPN
fsr-3489	290	50	b	b	PROPN
fsr-3489	290	51	b	b	PROPN
fsr-3489	290	52	b	b	PROPN
fsr-3489	290	53	0	0	NUM
fsr-3489	290	54	.	.	PUNCT
fsr-3489	291	1	71	71	NUM
fsr-3489	291	2	9	9	NUM
fsr-3489	291	3	0	0	NUM
fsr-3489	291	4	.	.	PUNCT
fsr-3489	292	1	34	34	NUM
fsr-3489	292	2	0	0	NUM
fsr-3489	292	3	2	2	NUM
fsr-3489	292	4	.	.	NOUN
fsr-3489	292	5	11	11	NUM
fsr-3489	292	6	7	7	NUM
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fsr-3489	292	8	*	*	PUNCT
fsr-3489	293	1	1	1	NUM
fsr-3489	293	2	.	.	NUM
fsr-3489	293	3	14	14	NUM
fsr-3489	293	4	5	5	NUM
fsr-3489	293	5	0	0	NUM
fsr-3489	293	6	.	.	NOUN
fsr-3489	293	7	07	07	NUM
fsr-3489	293	8	2	2	NUM
fsr-3489	293	9	15	15	NUM
fsr-3489	293	10	.9	.9	NUM
fsr-3489	293	11	01	01	NUM
fsr-3489	294	1	*	*	PUNCT
fsr-3489	294	2	*	*	PUNCT
fsr-3489	295	1	*	*	PUNCT
fsr-3489	295	2	0	0	NUM
fsr-3489	295	3	.	.	NOUN
fsr-3489	295	4	50	50	NUM
fsr-3489	295	5	4	4	NUM
fsr-3489	295	6	0	0	NUM
fsr-3489	295	7	.	.	PUNCT
fsr-3489	295	8	09	09	NUM
fsr-3489	295	9	3	3	NUM
fsr-3489	295	10	5	5	NUM
fsr-3489	295	11	.	.	NOUN
fsr-3489	295	12	39	39	NUM
fsr-3489	295	13	6	6	NUM
fsr-3489	295	14	*	*	PUNCT
fsr-3489	295	15	*	*	PUNCT
fsr-3489	295	16	*	*	PUNCT
fsr-3489	295	17	0	0	NUM
fsr-3489	295	18	.	.	NOUN
fsr-3489	295	19	13	13	NUM
fsr-3489	295	20	7	7	NUM
fsr-3489	295	21	0	0	NUM
fsr-3489	295	22	.	.	PUNCT
fsr-3489	295	23	09	09	NUM
fsr-3489	295	24	1	1	NUM
fsr-3489	295	25	1	1	NUM
fsr-3489	295	26	.	.	PUNCT
fsr-3489	295	27	50	50	NUM
fsr-3489	295	28	0	0	NUM
fsr-3489	295	29	0	0	NUM
fsr-3489	295	30	.	.	PUNCT
fsr-3489	296	1	65	65	NUM
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fsr-3489	369	42	.	.	X
fsr-3489	369	43	93	93	NUM
fsr-3489	369	44	1	1	NUM
fsr-3489	369	45	0	0	NUM
fsr-3489	369	46	.	.	PUNCT
fsr-3489	369	47	61	61	NUM
fsr-3489	369	48	4	4	NUM
fsr-3489	369	49	y	y	PROPN
fsr-3489	369	50	y	y	PROPN
fsr-3489	369	51	y	y	PROPN
fsr-3489	369	52	"	"	PUNCT
fsr-3489	369	53	0	0	NUM
fsr-3489	369	54	.	.	PROPN
fsr-3489	369	55	18	18	NUM
fsr-3489	369	56	3	3	NUM
fsr-3489	369	57	0	0	NUM
fsr-3489	369	58	.	.	NOUN
fsr-3489	369	59	18	18	NUM
fsr-3489	369	60	7	7	NUM
fsr-3489	369	61	"	"	PUNCT
fsr-3489	369	62	0	0	NUM
fsr-3489	369	63	.	.	X
fsr-3489	369	64	98	98	NUM
fsr-3489	369	65	0	0	NUM
fsr-3489	369	66	0	0	NUM
fsr-3489	369	67	.	.	PUNCT
fsr-3489	369	68	90	90	NUM
fsr-3489	369	69	2	2	NUM
fsr-3489	369	70	0	0	NUM
fsr-3489	369	71	.	.	PUNCT
fsr-3489	369	72	04	04	NUM
fsr-3489	369	73	0	0	NUM
fsr-3489	369	74	22	22	NUM
fsr-3489	369	75	.7	.7	NUM
fsr-3489	369	76	62	62	NUM
fsr-3489	369	77	*	*	PUNCT
fsr-3489	369	78	*	*	PUNCT
fsr-3489	369	79	*	*	PUNCT
fsr-3489	369	80	0	0	NUM
fsr-3489	369	81	.	.	NOUN
fsr-3489	369	82	32	32	NUM
fsr-3489	369	83	2	2	NUM
fsr-3489	369	84	0	0	NUM
fsr-3489	369	85	.	.	PUNCT
fsr-3489	370	1	05	05	NUM
fsr-3489	370	2	1	1	NUM
fsr-3489	370	3	6	6	NUM
fsr-3489	370	4	.	.	NOUN
fsr-3489	370	5	26	26	NUM
fsr-3489	370	6	8	8	NUM
fsr-3489	370	7	*	*	PUNCT
fsr-3489	370	8	*	*	PUNCT
fsr-3489	370	9	*	*	PUNCT
fsr-3489	370	10	0	0	NUM
fsr-3489	370	11	.	.	NOUN
fsr-3489	370	12	24	24	NUM
fsr-3489	370	13	3	3	NUM
fsr-3489	370	14	0	0	NUM
fsr-3489	370	15	.	.	PUNCT
fsr-3489	371	1	05	05	NUM
fsr-3489	371	2	0	0	NUM
fsr-3489	371	3	4	4	NUM
fsr-3489	371	4	.	.	NOUN
fsr-3489	371	5	83	83	NUM
fsr-3489	372	1	2	2	NUM
fsr-3489	372	2	*	*	PUNCT
fsr-3489	372	3	*	*	PUNCT
fsr-3489	372	4	*	*	NOUN
fsr-3489	372	5	0	0	NUM
fsr-3489	372	6	.	.	NUM
fsr-3489	372	7	80	80	NUM
fsr-3489	372	8	0	0	NUM
fsr-3489	372	9	x	x	PUNCT
fsr-3489	372	10	l	l	NOUN
fsr-3489	372	11	y	y	PROPN
fsr-3489	372	12	0	0	NUM
fsr-3489	372	13	.	.	PUNCT
fsr-3489	372	14	03	03	NUM
fsr-3489	373	1	1	1	NUM
fsr-3489	373	2	0	0	NUM
fsr-3489	373	3	.	.	NOUN
fsr-3489	373	4	24	24	NUM
fsr-3489	373	5	6	6	NUM
fsr-3489	373	6	0	0	NUM
fsr-3489	373	7	.	.	PUNCT
fsr-3489	373	8	12	12	NUM
fsr-3489	373	9	5	5	NUM
fsr-3489	373	10	1	1	NUM
fsr-3489	373	11	.	.	PUNCT
fsr-3489	373	12	09	09	NUM
fsr-3489	373	13	0	0	NUM
fsr-3489	373	14	0	0	NUM
fsr-3489	373	15	.	.	PUNCT
fsr-3489	374	1	05	05	NUM
fsr-3489	374	2	2	2	NUM
fsr-3489	374	3	20	20	NUM
fsr-3489	374	4	.8	.8	NUM
fsr-3489	374	5	55	55	NUM
fsr-3489	374	6	*	*	PUNCT
fsr-3489	374	7	*	*	PUNCT
fsr-3489	375	1	*	*	PUNCT
fsr-3489	375	2	0	0	NUM
fsr-3489	375	3	.	.	NOUN
fsr-3489	375	4	30	30	NUM
fsr-3489	375	5	9	9	NUM
fsr-3489	375	6	0	0	NUM
fsr-3489	375	7	.	.	NOUN
fsr-3489	375	8	06	06	NUM
fsr-3489	375	9	8	8	NUM
fsr-3489	375	10	4	4	NUM
fsr-3489	375	11	.	.	PUNCT
fsr-3489	375	12	55	55	NUM
fsr-3489	375	13	3	3	NUM
fsr-3489	375	14	*	*	PUNCT
fsr-3489	375	15	*	*	PUNCT
fsr-3489	375	16	*	*	PUNCT
fsr-3489	375	17	0	0	NUM
fsr-3489	375	18	.	.	NOUN
fsr-3489	375	19	14	14	NUM
fsr-3489	375	20	6	6	NUM
fsr-3489	375	21	0	0	NUM
fsr-3489	375	22	.	.	NUM
fsr-3489	376	1	06	06	NUM
fsr-3489	376	2	6	6	NUM
fsr-3489	376	3	2	2	NUM
fsr-3489	376	4	.	.	NOUN
fsr-3489	376	5	19	19	NUM
fsr-3489	376	6	9	9	NUM
fsr-3489	376	7	*	*	SYM
fsr-3489	376	8	*	*	NOUN
fsr-3489	376	9	0	0	NUM
fsr-3489	376	10	.	.	NUM
fsr-3489	377	1	76	76	NUM
fsr-3489	377	2	0	0	SYM
fsr-3489	377	3	n	n	PRON
fsr-3489	377	4	ot	ot	NOUN
fsr-3489	378	1	e	e	NOUN
fsr-3489	378	2	:	:	PUNCT
fsr-3489	378	3	b	b	PROPN
fsr-3489	378	4	b	b	PROPN
fsr-3489	378	5	b	b	PROPN
fsr-3489	378	6	,	,	PUNCT
fsr-3489	378	7	e	e	X
fsr-3489	378	8	e	e	X
fsr-3489	378	9	e	e	PROPN
fsr-3489	378	10	,	,	PUNCT
fsr-3489	378	11	f	f	PROPN
fsr-3489	378	12	ff	ff	INTJ
fsr-3489	378	13	,	,	PUNCT
fsr-3489	378	14	i	i	PROPN
fsr-3489	378	15	ii	ii	PROPN
fsr-3489	378	16	,	,	PUNCT
fsr-3489	379	1	k	k	PROPN
fsr-3489	379	2	k	k	PROPN
fsr-3489	379	3	k	k	PROPN
fsr-3489	379	4	,	,	PUNCT
fsr-3489	379	5	p	p	X
fsr-3489	379	6	pp	pp	ADV
fsr-3489	379	7	,	,	PUNCT
fsr-3489	379	8	u	u	NOUN
fsr-3489	379	9	u	u	PROPN
fsr-3489	379	10	u	u	PROPN
fsr-3489	379	11	,	,	PUNCT
fsr-3489	379	12	v	v	NOUN
fsr-3489	379	13	v	v	NOUN
fsr-3489	379	14	v	v	NOUN
fsr-3489	379	15	,	,	PUNCT
fsr-3489	379	16	a	a	DET
fsr-3489	379	17	nd	nd	NOUN
fsr-3489	379	18	y	y	PROPN
fsr-3489	379	19	y	y	PROPN
fsr-3489	379	20	y	y	PROPN
fsr-3489	379	21	re	re	AUX
fsr-3489	379	22	pr	pr	VERB
fsr-3489	379	23	es	es	X
fsr-3489	379	24	en	en	ADP
fsr-3489	379	25	t	t	X
fsr-3489	379	26	th	th	X
fsr-3489	379	27	e	e	X
fsr-3489	379	28	fi	fi	X
fsr-3489	379	29	de	de	X
fsr-3489	379	30	lit	lit	PROPN
fsr-3489	380	1	y	y	PROPN
fsr-3489	380	2	se	se	PROPN
fsr-3489	380	3	le	le	PROPN
fsr-3489	380	4	ct	ct	PROPN
fsr-3489	380	5	po	po	INTJ
fsr-3489	381	1	rt	rt	INTJ
fsr-3489	381	2	fo	fo	INTJ
fsr-3489	381	3	lio	lio	PROPN
fsr-3489	381	4	m	m	VERB
fsr-3489	381	5	ut	ut	PROPN
fsr-3489	381	6	ua	ua	PROPN
fsr-3489	381	7	l	l	PROPN
fsr-3489	381	8	fu	fu	PROPN
fsr-3489	382	1	nd	nd	NOUN
fsr-3489	382	2	s	s	PART
fsr-3489	382	3	fo	fo	ADP
fsr-3489	382	4	r	r	NOUN
fsr-3489	382	5	th	th	X
fsr-3489	382	6	e	e	X
fsr-3489	382	7	m	m	NOUN
fsr-3489	382	8	at	at	ADP
fsr-3489	382	9	er	er	INTJ
fsr-3489	382	10	ia	ia	PROPN
fsr-3489	382	11	ls	ls	PROPN
fsr-3489	382	12	se	se	PROPN
fsr-3489	382	13	ct	ct	PROPN
fsr-3489	382	14	or	or	CCONJ
fsr-3489	382	15	,	,	PUNCT
fsr-3489	382	16	t	t	PROPN
fsr-3489	382	17	he	he	PRON
fsr-3489	382	18	e	e	PROPN
fsr-3489	382	19	ne	ne	PROPN
fsr-3489	382	20	rg	rg	PROPN
fsr-3489	382	21	y	y	PROPN
fsr-3489	382	22	se	se	PROPN
fsr-3489	382	23	ct	ct	PROPN
fsr-3489	382	24	or	or	CCONJ
fsr-3489	382	25	,	,	PUNCT
fsr-3489	382	26	th	th	X
fsr-3489	382	27	e	e	NOUN
fsr-3489	382	28	fi	fi	NOUN
fsr-3489	382	29	na	na	PROPN
fsr-3489	382	30	nc	nc	PROPN
fsr-3489	382	31	ia	ia	PROPN
fsr-3489	382	32	l	l	PROPN
fsr-3489	382	33	se	se	PROPN
fsr-3489	383	1	ct	ct	INTJ
fsr-3489	383	2	or	or	CCONJ
fsr-3489	383	3	,	,	PUNCT
fsr-3489	383	4	th	th	X
fsr-3489	383	5	e	e	NOUN
fsr-3489	383	6	in	in	ADP
fsr-3489	383	7	du	du	PROPN
fsr-3489	383	8	st	st	PROPN
fsr-3489	383	9	ri	ri	PROPN
fsr-3489	383	10	al	al	PROPN
fsr-3489	383	11	s	s	PROPN
fsr-3489	384	1	se	se	PROPN
fsr-3489	385	1	ct	ct	PROPN
fsr-3489	386	1	or	or	CCONJ
fsr-3489	386	2	,	,	PUNCT
fsr-3489	386	3	th	th	X
fsr-3489	386	4	e	e	X
fsr-3489	386	5	t	t	PROPN
fsr-3489	386	6	ec	ec	PROPN
fsr-3489	387	1	hn	hn	PROPN
fsr-3489	387	2	ol	ol	PROPN
fsr-3489	387	3	og	og	PROPN
fsr-3489	387	4	y	y	PROPN
fsr-3489	388	1	se	se	PROPN
fsr-3489	389	1	ct	ct	PROPN
fsr-3489	390	1	or	or	CCONJ
fsr-3489	390	2	,	,	PUNCT
fsr-3489	390	3	th	th	X
fsr-3489	390	4	e	e	X
fsr-3489	390	5	c	c	X
fsr-3489	390	6	on	on	ADP
fsr-3489	390	7	su	su	PROPN
fsr-3489	390	8	m	m	PROPN
fsr-3489	390	9	er	er	INTJ
fsr-3489	390	10	st	st	PROPN
fsr-3489	390	11	ap	ap	PROPN
fsr-3489	390	12	le	le	PROPN
fsr-3489	390	13	s	s	PROPN
fsr-3489	390	14	se	se	INTJ
fsr-3489	390	15	ct	ct	INTJ
fsr-3489	390	16	or	or	CCONJ
fsr-3489	390	17	,	,	PUNCT
fsr-3489	390	18	th	th	X
fsr-3489	390	19	e	e	NOUN
fsr-3489	390	20	u	u	NOUN
fsr-3489	390	21	til	til	PROPN
fsr-3489	390	22	iti	iti	PROPN
fsr-3489	390	23	es	es	X
fsr-3489	390	24	se	se	PROPN
fsr-3489	391	1	ct	ct	PROPN
fsr-3489	392	1	or	or	CCONJ
fsr-3489	392	2	,	,	PUNCT
fsr-3489	392	3	th	th	X
fsr-3489	392	4	e	e	NOUN
fsr-3489	392	5	h	h	NOUN
fsr-3489	392	6	ea	ea	INTJ
fsr-3489	393	1	lth	lth	PROPN
fsr-3489	393	2	ca	can	AUX
fsr-3489	393	3	re	re	VERB
fsr-3489	393	4	se	se	PROPN
fsr-3489	393	5	ct	ct	PROPN
fsr-3489	393	6	or	or	CCONJ
fsr-3489	393	7	,	,	PUNCT
fsr-3489	393	8	an	an	DET
fsr-3489	393	9	d	d	X
fsr-3489	393	10	th	th	X
fsr-3489	393	11	e	e	X
fsr-3489	393	12	c	c	X
fsr-3489	393	13	on	on	ADP
fsr-3489	393	14	su	su	PROPN
fsr-3489	393	15	m	m	PROPN
fsr-3489	393	16	er	er	INTJ
fsr-3489	393	17	d	d	NOUN
fsr-3489	393	18	is	be	AUX
fsr-3489	393	19	cr	cr	INTJ
fsr-3489	393	20	et	et	NOUN
fsr-3489	393	21	io	io	X
fsr-3489	393	22	na	na	VERB
fsr-3489	393	23	ry	ry	PROPN
fsr-3489	393	24	se	se	PROPN
fsr-3489	393	25	ct	ct	INTJ
fsr-3489	393	26	or	or	CCONJ
fsr-3489	393	27	,	,	PUNCT
fsr-3489	394	1	r	r	NOUN
fsr-3489	394	2	es	es	X
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fsr-3489	394	4	ct	ct	NUM
fsr-3489	394	5	iv	iv	NUM
fsr-3489	394	6	el	el	PROPN
fsr-3489	394	7	y.	y.	PROPN
fsr-3489	394	8	x	x	PROPN
fsr-3489	395	1	l	l	NOUN
fsr-3489	395	2	b	b	PROPN
fsr-3489	395	3	,	,	PUNCT
fsr-3489	395	4	x	x	X
fsr-3489	395	5	l	l	NOUN
fsr-3489	395	6	e	e	NOUN
fsr-3489	395	7	,	,	PUNCT
fsr-3489	395	8	x	x	X
fsr-3489	395	9	l	l	NOUN
fsr-3489	395	10	f	f	X
fsr-3489	395	11	,	,	PUNCT
fsr-3489	395	12	x	x	X
fsr-3489	395	13	l	l	NOUN
fsr-3489	395	14	i	i	NOUN
fsr-3489	395	15	,	,	PUNCT
fsr-3489	395	16	x	x	X
fsr-3489	395	17	l	l	NOUN
fsr-3489	395	18	k	k	X
fsr-3489	395	19	,	,	PUNCT
fsr-3489	395	20	x	x	X
fsr-3489	395	21	l	l	NOUN
fsr-3489	395	22	p	p	X
fsr-3489	395	23	,	,	PUNCT
fsr-3489	395	24	x	x	X
fsr-3489	395	25	l	l	NOUN
fsr-3489	395	26	u	u	NOUN
fsr-3489	395	27	,	,	PUNCT
fsr-3489	395	28	x	x	PROPN
fsr-3489	395	29	l	l	NOUN
fsr-3489	395	30	v	v	NOUN
fsr-3489	395	31	,	,	PUNCT
fsr-3489	395	32	a	a	DET
fsr-3489	395	33	nd	nd	NOUN
fsr-3489	395	34	x	x	SYM
fsr-3489	395	35	l	l	NOUN
fsr-3489	395	36	y	y	NOUN
fsr-3489	395	37	re	re	AUX
fsr-3489	395	38	pr	pr	VERB
fsr-3489	395	39	es	es	VERB
fsr-3489	395	40	en	en	ADP
fsr-3489	395	41	t	t	X
fsr-3489	395	42	th	th	X
fsr-3489	395	43	e	e	X
fsr-3489	395	44	se	se	X
fsr-3489	395	45	le	le	X
fsr-3489	395	46	ct	ct	PROPN
fsr-3489	395	47	se	se	PROPN
fsr-3489	395	48	ct	ct	PROPN
fsr-3489	395	49	or	or	CCONJ
fsr-3489	395	50	sp	sp	ADP
fsr-3489	395	51	d	d	NOUN
fsr-3489	395	52	r	r	NOUN
fsr-3489	395	53	e	e	NOUN
fsr-3489	395	54	t	t	X
fsr-3489	395	55	fs	fs	NOUN
fsr-3489	396	1	fo	fo	INTJ
fsr-3489	396	2	r	r	NOUN
fsr-3489	396	3	th	th	X
fsr-3489	396	4	es	es	X
fsr-3489	396	5	e	e	PROPN
fsr-3489	396	6	ni	ni	PROPN
fsr-3489	396	7	ne	ne	PROPN
fsr-3489	396	8	se	se	PROPN
fsr-3489	396	9	ct	ct	PROPN
fsr-3489	396	10	or	or	CCONJ
fsr-3489	396	11	s	s	PROPN
fsr-3489	396	12	,	,	PUNCT
fsr-3489	396	13	re	re	ADP
fsr-3489	396	14	sp	sp	ADP
fsr-3489	396	15	ec	ec	PROPN
fsr-3489	396	16	tiv	tiv	PROPN
fsr-3489	396	17	el	el	PROPN
fsr-3489	396	18	y.	y.	PROPN
fsr-3489	396	19	sp	sp	ADP
fsr-3489	396	20	y	y	PROPN
fsr-3489	396	21	re	re	X
fsr-3489	396	22	pr	pr	VERB
fsr-3489	396	23	es	es	X
fsr-3489	396	24	en	en	X
fsr-3489	396	25	ts	ts	X
fsr-3489	396	26	th	th	X
fsr-3489	396	27	e	e	X
fsr-3489	396	28	sp	sp	ADP
fsr-3489	396	29	d	d	PROPN
fsr-3489	396	30	r	r	NOUN
fsr-3489	396	31	s	s	PROPN
fsr-3489	396	32	&	&	CCONJ
fsr-3489	396	33	p	p	NOUN
fsr-3489	396	34	50	50	NUM
fsr-3489	396	35	0	0	NUM
fsr-3489	396	36	t	t	PROPN
fsr-3489	396	37	ru	ru	PROPN
fsr-3489	396	38	st	st	PROPN
fsr-3489	396	39	.	.	PUNCT
fsr-3489	397	1	*	*	PUNCT
fsr-3489	398	1	*	*	PUNCT
fsr-3489	398	2	*	*	PUNCT
fsr-3489	398	3	s	s	AUX
fsr-3489	398	4	ig	ig	PROPN
fsr-3489	398	5	ni	ni	PROPN
fsr-3489	398	6	fic	fic	PROPN
fsr-3489	398	7	an	an	PROPN
fsr-3489	398	8	t	t	NOUN
fsr-3489	398	9	at	at	ADP
fsr-3489	398	10	th	th	X
fsr-3489	398	11	e	e	ADP
fsr-3489	398	12	1	1	NUM
fsr-3489	398	13	%	%	NOUN
fsr-3489	398	14	le	le	X
fsr-3489	398	15	ve	ve	AUX
fsr-3489	398	16	l.	l.	PROPN
fsr-3489	398	17	*	*	PUNCT
fsr-3489	398	18	*	*	PUNCT
fsr-3489	398	19	si	si	PROPN
fsr-3489	398	20	gn	gn	PROPN
fsr-3489	398	21	ifi	ifi	PROPN
fsr-3489	398	22	ca	can	AUX
fsr-3489	398	23	nt	not	PART
fsr-3489	398	24	at	at	ADP
fsr-3489	398	25	th	th	X
fsr-3489	398	26	e	e	X
fsr-3489	398	27	5	5	NUM
fsr-3489	398	28	%	%	NOUN
fsr-3489	398	29	le	le	X
fsr-3489	398	30	ve	ve	AUX
fsr-3489	398	31	l.	l.	PROPN
fsr-3489	398	32	261c.y	261c.y	NUM
fsr-3489	398	33	.	.	PUNCT
fsr-3489	399	1	lin	lin	PROPN
fsr-3489	399	2	/	/	SYM
fsr-3489	399	3	financial	financial	ADJ
fsr-3489	399	4	services	service	NOUN
fsr-3489	399	5	review	review	VERB
fsr-3489	399	6	23	23	NUM
fsr-3489	399	7	(	(	PUNCT
fsr-3489	399	8	2014	2014	NUM
fsr-3489	399	9	)	)	PUNCT
fsr-3489	400	1	249–271	249–271	NUM
fsr-3489	400	2	period	period	NOUN
fsr-3489	400	3	,	,	PUNCT
fsr-3489	400	4	three	three	NUM
fsr-3489	400	5	sector	sector	NOUN
fsr-3489	400	6	mfs	mfs	NOUN
fsr-3489	400	7	(	(	PUNCT
fsr-3489	400	8	materials	material	NOUN
fsr-3489	400	9	,	,	PUNCT
fsr-3489	400	10	industrials	industrial	NOUN
fsr-3489	400	11	,	,	PUNCT
fsr-3489	400	12	and	and	CCONJ
fsr-3489	400	13	consumer	consumer	NOUN
fsr-3489	400	14	staples	staple	NOUN
fsr-3489	400	15	)	)	PUNCT
fsr-3489	400	16	have	have	VERB
fsr-3489	400	17	a	a	DET
fsr-3489	400	18	significant	significant	ADJ
fsr-3489	400	19	positive	positive	ADJ
fsr-3489	400	20	!	!	PUNCT
fsr-3489	400	21	.	.	PUNCT
fsr-3489	401	1	the	the	DET
fsr-3489	401	2	financial	financial	ADJ
fsr-3489	401	3	etf	etf	NOUN
fsr-3489	401	4	generates	generate	VERB
fsr-3489	401	5	a	a	DET
fsr-3489	401	6	significant	significant	ADJ
fsr-3489	401	7	negative	negative	NOUN
fsr-3489	401	8	!	!	PUNCT
fsr-3489	402	1	at	at	ADP
fsr-3489	402	2	the	the	DET
fsr-3489	402	3	5	5	NUM
fsr-3489	402	4	%	%	NOUN
fsr-3489	402	5	significance	significance	NOUN
fsr-3489	402	6	level	level	NOUN
fsr-3489	402	7	.	.	PUNCT
fsr-3489	403	1	the	the	DET
fsr-3489	403	2	four	four	NUM
fsr-3489	403	3	-	-	PUNCT
fsr-3489	403	4	factor	factor	NOUN
fsr-3489	403	5	model	model	NOUN
fsr-3489	403	6	is	be	AUX
fsr-3489	403	7	modified	modify	VERB
fsr-3489	403	8	by	by	ADP
fsr-3489	403	9	replacing	replace	VERB
fsr-3489	403	10	excess	excess	ADJ
fsr-3489	403	11	market	market	NOUN
fsr-3489	403	12	return	return	NOUN
fsr-3489	403	13	with	with	ADP
fsr-3489	403	14	excess	excess	ADJ
fsr-3489	403	15	spy	spy	NOUN
fsr-3489	403	16	return	return	NOUN
fsr-3489	403	17	:	:	PUNCT
fsr-3489	403	18	ri	ri	PROPN
fsr-3489	403	19	,	,	PUNCT
fsr-3489	403	20	t	t	PROPN
fsr-3489	403	21	$	$	SYM
fsr-3489	403	22	rf	rf	PROPN
fsr-3489	403	23	,	,	PUNCT
fsr-3489	403	24	t	t	NOUN
fsr-3489	403	25	"	"	PUNCT
fsr-3489	403	26	!	!	PUNCT
fsr-3489	404	1	i	i	PRON
fsr-3489	404	2	#	#	NOUN
fsr-3489	404	3	%	%	NOUN
fsr-3489	404	4	i#rspy	i#rspy	PROPN
fsr-3489	404	5	,	,	PUNCT
fsr-3489	404	6	t	t	PROPN
fsr-3489	404	7	$	$	SYM
fsr-3489	404	8	rf	rf	PROPN
fsr-3489	404	9	,	,	PUNCT
fsr-3489	404	10	t$	t$	VERB
fsr-3489	404	11	#	#	NOUN
fsr-3489	404	12	hihmlt	hihmlt	NOUN
fsr-3489	404	13	#	#	NOUN
fsr-3489	404	14	sismbt	sismbt	NOUN
fsr-3489	404	15	#	#	NOUN
fsr-3489	404	16	mimomt	mimomt	NOUN
fsr-3489	404	17	#	#	NOUN
fsr-3489	404	18	&	&	CCONJ
fsr-3489	404	19	i	i	PROPN
fsr-3489	404	20	,	,	PUNCT
fsr-3489	404	21	t	t	PROPN
fsr-3489	404	22	(	(	PUNCT
fsr-3489	404	23	4	4	NUM
fsr-3489	404	24	)	)	PUNCT
fsr-3489	404	25	where	where	SCONJ
fsr-3489	404	26	mom	mom	NOUN
fsr-3489	404	27	(	(	PUNCT
fsr-3489	404	28	momentum	momentum	NOUN
fsr-3489	404	29	)	)	PUNCT
fsr-3489	404	30	is	be	AUX
fsr-3489	404	31	the	the	DET
fsr-3489	404	32	average	average	ADJ
fsr-3489	404	33	return	return	NOUN
fsr-3489	404	34	on	on	ADP
fsr-3489	404	35	the	the	DET
fsr-3489	404	36	two	two	NUM
fsr-3489	404	37	high	high	ADJ
fsr-3489	404	38	prior	prior	ADJ
fsr-3489	404	39	return	return	NOUN
fsr-3489	404	40	portfolios	portfolio	NOUN
fsr-3489	404	41	minus	minus	ADP
fsr-3489	404	42	the	the	DET
fsr-3489	404	43	average	average	ADJ
fsr-3489	404	44	return	return	NOUN
fsr-3489	404	45	on	on	ADP
fsr-3489	404	46	the	the	DET
fsr-3489	404	47	two	two	NUM
fsr-3489	404	48	low	low	ADJ
fsr-3489	404	49	prior	prior	ADJ
fsr-3489	404	50	return	return	NOUN
fsr-3489	404	51	portfolios	portfolio	NOUN
fsr-3489	404	52	(	(	PUNCT
fsr-3489	404	53	see	see	VERB
fsr-3489	404	54	carhart	carhart	NOUN
fsr-3489	404	55	1997	1997	NUM
fsr-3489	404	56	)	)	PUNCT
fsr-3489	404	57	.	.	PUNCT
fsr-3489	405	1	the	the	DET
fsr-3489	405	2	data	datum	NOUN
fsr-3489	405	3	are	be	AUX
fsr-3489	405	4	downloaded	download	VERB
fsr-3489	405	5	from	from	ADP
fsr-3489	405	6	kenneth	kenneth	PROPN
fsr-3489	405	7	r.	r.	PROPN
fsr-3489	405	8	french	french	PROPN
fsr-3489	405	9	data	datum	NOUN
fsr-3489	405	10	library	library	NOUN
fsr-3489	405	11	.	.	PUNCT
fsr-3489	406	1	the	the	DET
fsr-3489	406	2	results	result	NOUN
fsr-3489	406	3	presented	present	VERB
fsr-3489	406	4	in	in	ADP
fsr-3489	406	5	table	table	NOUN
fsr-3489	406	6	7	7	NUM
fsr-3489	406	7	resemble	resemble	VERB
fsr-3489	406	8	those	those	PRON
fsr-3489	406	9	from	from	ADP
fsr-3489	406	10	the	the	DET
fsr-3489	406	11	three	three	NUM
fsr-3489	406	12	-	-	PUNCT
fsr-3489	406	13	factor	factor	NOUN
fsr-3489	406	14	model	model	NOUN
fsr-3489	406	15	.	.	PUNCT
fsr-3489	407	1	table	table	NOUN
fsr-3489	407	2	7	7	NUM
fsr-3489	407	3	shows	show	VERB
fsr-3489	407	4	that	that	SCONJ
fsr-3489	407	5	over	over	ADP
fsr-3489	407	6	the	the	DET
fsr-3489	407	7	full	full	ADJ
fsr-3489	407	8	sample	sample	NOUN
fsr-3489	407	9	period	period	NOUN
fsr-3489	407	10	the	the	DET
fsr-3489	407	11	same	same	ADJ
fsr-3489	407	12	two	two	NUM
fsr-3489	407	13	sector	sector	NOUN
fsr-3489	407	14	mfs	mfs	NOUN
fsr-3489	407	15	(	(	PUNCT
fsr-3489	407	16	materials	material	NOUN
fsr-3489	407	17	and	and	CCONJ
fsr-3489	407	18	technology	technology	NOUN
fsr-3489	407	19	)	)	PUNCT
fsr-3489	407	20	have	have	VERB
fsr-3489	407	21	a	a	DET
fsr-3489	407	22	positive	positive	ADJ
fsr-3489	407	23	!	!	PUNCT
fsr-3489	408	1	at	at	ADP
fsr-3489	408	2	the	the	DET
fsr-3489	408	3	5	5	NUM
fsr-3489	408	4	%	%	NOUN
fsr-3489	408	5	level	level	NOUN
fsr-3489	408	6	.	.	PUNCT
fsr-3489	409	1	for	for	ADP
fsr-3489	409	2	the	the	DET
fsr-3489	409	3	momentum	momentum	NOUN
fsr-3489	409	4	factor	factor	NOUN
fsr-3489	409	5	,	,	PUNCT
fsr-3489	409	6	mom	mom	NOUN
fsr-3489	409	7	,	,	PUNCT
fsr-3489	409	8	only	only	ADV
fsr-3489	409	9	five	five	NUM
fsr-3489	409	10	out	out	ADP
fsr-3489	409	11	of	of	ADP
fsr-3489	409	12	18	18	NUM
fsr-3489	409	13	funds	fund	NOUN
fsr-3489	409	14	have	have	VERB
fsr-3489	409	15	a	a	DET
fsr-3489	409	16	significant	significant	ADJ
fsr-3489	409	17	coefficient	coefficient	NOUN
fsr-3489	409	18	.	.	PUNCT
fsr-3489	410	1	generally	generally	ADV
fsr-3489	410	2	speaking	speak	VERB
fsr-3489	410	3	,	,	PUNCT
fsr-3489	410	4	more	more	ADV
fsr-3489	410	5	often	often	ADV
fsr-3489	410	6	,	,	PUNCT
fsr-3489	410	7	sector	sector	NOUN
fsr-3489	410	8	mfs	mfs	NOUN
fsr-3489	410	9	generate	generate	VERB
fsr-3489	410	10	significant	significant	ADV
fsr-3489	410	11	higher	high	ADJ
fsr-3489	410	12	!	!	PUNCT
fsr-3489	410	13	s	s	PART
fsr-3489	411	1	than	than	ADP
fsr-3489	411	2	peer	peer	NOUN
fsr-3489	411	3	etfs	etfs	NOUN
fsr-3489	411	4	no	no	ADV
fsr-3489	411	5	matter	matter	ADV
fsr-3489	411	6	whether	whether	SCONJ
fsr-3489	411	7	a	a	DET
fsr-3489	411	8	one	one	NUM
fsr-3489	411	9	-	-	PUNCT
fsr-3489	411	10	factor	factor	NOUN
fsr-3489	411	11	,	,	PUNCT
fsr-3489	411	12	three	three	NUM
fsr-3489	411	13	-	-	PUNCT
fsr-3489	411	14	factor	factor	NOUN
fsr-3489	411	15	,	,	PUNCT
fsr-3489	411	16	or	or	CCONJ
fsr-3489	411	17	four	four	NUM
fsr-3489	411	18	-	-	PUNCT
fsr-3489	411	19	factor	factor	NOUN
fsr-3489	411	20	model	model	NOUN
fsr-3489	411	21	is	be	AUX
fsr-3489	411	22	adopted	adopt	VERB
fsr-3489	411	23	when	when	SCONJ
fsr-3489	411	24	spy	spy	NOUN
fsr-3489	411	25	is	be	AUX
fsr-3489	411	26	used	use	VERB
fsr-3489	411	27	as	as	ADP
fsr-3489	411	28	the	the	DET
fsr-3489	411	29	proxy	proxy	NOUN
fsr-3489	411	30	for	for	ADP
fsr-3489	411	31	market	market	NOUN
fsr-3489	411	32	portfolio	portfolio	NOUN
fsr-3489	411	33	.	.	PUNCT
fsr-3489	412	1	all	all	DET
fsr-3489	412	2	fund	fund	NOUN
fsr-3489	412	3	returns	return	NOUN
fsr-3489	412	4	are	be	AUX
fsr-3489	412	5	sensitive	sensitive	ADJ
fsr-3489	412	6	to	to	ADP
fsr-3489	412	7	the	the	DET
fsr-3489	412	8	overall	overall	ADJ
fsr-3489	412	9	equity	equity	NOUN
fsr-3489	412	10	market	market	NOUN
fsr-3489	412	11	movements	movement	NOUN
fsr-3489	412	12	as	as	ADP
fsr-3489	412	13	the	the	DET
fsr-3489	412	14	%	%	NOUN
fsr-3489	412	15	coefficients	coefficient	NOUN
fsr-3489	412	16	for	for	ADP
fsr-3489	412	17	excess	excess	ADJ
fsr-3489	412	18	spy	spy	NOUN
fsr-3489	412	19	return	return	NOUN
fsr-3489	412	20	are	be	AUX
fsr-3489	412	21	all	all	ADV
fsr-3489	412	22	significant	significant	ADJ
fsr-3489	412	23	at	at	ADP
fsr-3489	412	24	the	the	DET
fsr-3489	412	25	1	1	NUM
fsr-3489	412	26	%	%	NOUN
fsr-3489	412	27	level	level	NOUN
fsr-3489	412	28	.	.	PUNCT
fsr-3489	413	1	fund	fund	NOUN
fsr-3489	413	2	returns	return	NOUN
fsr-3489	413	3	are	be	AUX
fsr-3489	413	4	less	less	ADV
fsr-3489	413	5	sensitive	sensitive	ADJ
fsr-3489	413	6	to	to	ADP
fsr-3489	413	7	the	the	DET
fsr-3489	413	8	value	value	NOUN
fsr-3489	413	9	/	/	SYM
fsr-3489	413	10	growth	growth	NOUN
fsr-3489	413	11	factor	factor	NOUN
fsr-3489	413	12	,	,	PUNCT
fsr-3489	413	13	the	the	DET
fsr-3489	413	14	size	size	NOUN
fsr-3489	413	15	factor	factor	NOUN
fsr-3489	413	16	,	,	PUNCT
fsr-3489	413	17	and	and	CCONJ
fsr-3489	413	18	the	the	DET
fsr-3489	413	19	momentum	momentum	NOUN
fsr-3489	413	20	factor	factor	NOUN
fsr-3489	413	21	in	in	ADP
fsr-3489	413	22	the	the	DET
fsr-3489	413	23	order	order	NOUN
fsr-3489	413	24	of	of	ADP
fsr-3489	413	25	listing	list	VERB
fsr-3489	413	26	.	.	PUNCT
fsr-3489	414	1	the	the	DET
fsr-3489	414	2	findings	finding	NOUN
fsr-3489	414	3	on	on	ADP
fsr-3489	414	4	performance	performance	NOUN
fsr-3489	414	5	against	against	ADP
fsr-3489	414	6	spy	spy	NOUN
fsr-3489	414	7	are	be	AUX
fsr-3489	414	8	not	not	PART
fsr-3489	414	9	consistent	consistent	ADJ
fsr-3489	414	10	with	with	ADP
fsr-3489	414	11	emh	emh	PROPN
fsr-3489	414	12	.	.	PUNCT
fsr-3489	415	1	they	they	PRON
fsr-3489	415	2	support	support	VERB
fsr-3489	415	3	the	the	DET
fsr-3489	415	4	argument	argument	NOUN
fsr-3489	415	5	by	by	ADP
fsr-3489	415	6	kacperczyk	kacperczyk	PROPN
fsr-3489	415	7	,	,	PUNCT
fsr-3489	415	8	sialm	sialm	NOUN
fsr-3489	415	9	,	,	PUNCT
fsr-3489	415	10	and	and	CCONJ
fsr-3489	415	11	zheng	zheng	X
fsr-3489	415	12	(	(	PUNCT
fsr-3489	415	13	2005	2005	NUM
fsr-3489	415	14	)	)	PUNCT
fsr-3489	415	15	that	that	SCONJ
fsr-3489	415	16	more	more	ADJ
fsr-3489	415	17	sector	sector	NOUN
fsr-3489	415	18	/	/	SYM
fsr-3489	415	19	industry	industry	NOUN
fsr-3489	415	20	concentrated	concentrate	VERB
fsr-3489	415	21	funds	fund	NOUN
fsr-3489	415	22	perform	perform	VERB
fsr-3489	415	23	better	well	ADV
fsr-3489	415	24	.	.	PUNCT
fsr-3489	416	1	4.3	4.3	NUM
fsr-3489	416	2	.	.	PUNCT
fsr-3489	416	3	sector	sector	NOUN
fsr-3489	416	4	mutual	mutual	ADJ
fsr-3489	416	5	fund	fund	NOUN
fsr-3489	416	6	performance	performance	NOUN
fsr-3489	416	7	against	against	ADP
fsr-3489	416	8	sector	sector	NOUN
fsr-3489	416	9	index	index	NOUN
fsr-3489	416	10	funds	fund	NOUN
fsr-3489	416	11	let	let	VERB
fsr-3489	416	12	us	we	PRON
fsr-3489	416	13	examine	examine	VERB
fsr-3489	416	14	mf	mf	NOUN
fsr-3489	416	15	performance	performance	NOUN
fsr-3489	416	16	against	against	ADP
fsr-3489	416	17	peer	peer	NOUN
fsr-3489	416	18	etf	etf	NOUN
fsr-3489	416	19	within	within	ADP
fsr-3489	416	20	each	each	DET
fsr-3489	416	21	sector	sector	NOUN
fsr-3489	416	22	.	.	PUNCT
fsr-3489	417	1	excess	excess	ADJ
fsr-3489	417	2	return	return	NOUN
fsr-3489	417	3	of	of	ADP
fsr-3489	417	4	peer	peer	NOUN
fsr-3489	417	5	etf	etf	NOUN
fsr-3489	417	6	is	be	AUX
fsr-3489	417	7	used	use	VERB
fsr-3489	417	8	as	as	ADP
fsr-3489	417	9	the	the	DET
fsr-3489	417	10	independent	independent	ADJ
fsr-3489	417	11	variable	variable	NOUN
fsr-3489	417	12	for	for	ADP
fsr-3489	417	13	the	the	DET
fsr-3489	417	14	one	one	NUM
fsr-3489	417	15	-	-	PUNCT
fsr-3489	417	16	factor	factor	NOUN
fsr-3489	417	17	model	model	NOUN
fsr-3489	417	18	:	:	PUNCT
fsr-3489	417	19	rmfj	rmfj	VERB
fsr-3489	417	20	,	,	PUNCT
fsr-3489	417	21	t	t	PROPN
fsr-3489	417	22	$	$	SYM
fsr-3489	417	23	rf	rf	PROPN
fsr-3489	417	24	,	,	PUNCT
fsr-3489	417	25	t	t	NOUN
fsr-3489	417	26	"	"	PUNCT
fsr-3489	417	27	!	!	PUNCT
fsr-3489	418	1	j	j	PROPN
fsr-3489	418	2	#	#	PROPN
fsr-3489	418	3	%	%	NOUN
fsr-3489	418	4	j#retfj	j#retfj	PROPN
fsr-3489	418	5	,	,	PUNCT
fsr-3489	418	6	t	t	PROPN
fsr-3489	418	7	$	$	SYM
fsr-3489	418	8	rf	rf	PROPN
fsr-3489	418	9	,	,	PUNCT
fsr-3489	418	10	t$	t$	VERB
fsr-3489	418	11	#	#	PROPN
fsr-3489	418	12	&	&	CCONJ
fsr-3489	418	13	j	j	PROPN
fsr-3489	418	14	,	,	PUNCT
fsr-3489	418	15	t	t	PROPN
fsr-3489	418	16	(	(	PUNCT
fsr-3489	418	17	5	5	NUM
fsr-3489	418	18	)	)	PUNCT
fsr-3489	418	19	where	where	SCONJ
fsr-3489	418	20	rmfj	rmfj	VERB
fsr-3489	418	21	,	,	PUNCT
fsr-3489	418	22	t	t	PROPN
fsr-3489	418	23	is	be	AUX
fsr-3489	418	24	the	the	DET
fsr-3489	418	25	return	return	NOUN
fsr-3489	418	26	of	of	ADP
fsr-3489	418	27	mf	mf	NOUN
fsr-3489	418	28	of	of	ADP
fsr-3489	418	29	sector	sector	NOUN
fsr-3489	418	30	j	j	PROPN
fsr-3489	418	31	in	in	ADP
fsr-3489	418	32	month	month	PROPN
fsr-3489	418	33	t	t	PROPN
fsr-3489	418	34	,	,	PUNCT
fsr-3489	418	35	and	and	CCONJ
fsr-3489	418	36	retfj	retfj	NOUN
fsr-3489	418	37	,	,	PUNCT
fsr-3489	418	38	t	t	PROPN
fsr-3489	418	39	is	be	AUX
fsr-3489	418	40	the	the	DET
fsr-3489	418	41	return	return	NOUN
fsr-3489	418	42	of	of	ADP
fsr-3489	418	43	etf	etf	NOUN
fsr-3489	418	44	in	in	ADP
fsr-3489	418	45	the	the	DET
fsr-3489	418	46	same	same	ADJ
fsr-3489	418	47	sector	sector	NOUN
fsr-3489	418	48	j	j	PROPN
fsr-3489	418	49	in	in	ADP
fsr-3489	418	50	month	month	NOUN
fsr-3489	418	51	t.	t.	NOUN
fsr-3489	418	52	table	table	NOUN
fsr-3489	419	1	8	8	NUM
fsr-3489	419	2	reports	report	NOUN
fsr-3489	419	3	that	that	SCONJ
fsr-3489	419	4	three	three	NUM
fsr-3489	419	5	sector	sector	NOUN
fsr-3489	419	6	mfs	mfs	NOUN
fsr-3489	419	7	(	(	PUNCT
fsr-3489	419	8	materials	material	NOUN
fsr-3489	419	9	,	,	PUNCT
fsr-3489	419	10	industrials	industrial	NOUN
fsr-3489	419	11	,	,	PUNCT
fsr-3489	419	12	and	and	CCONJ
fsr-3489	419	13	technology	technology	NOUN
fsr-3489	419	14	)	)	PUNCT
fsr-3489	419	15	generate	generate	VERB
fsr-3489	419	16	significant	significant	ADJ
fsr-3489	419	17	positive	positive	ADJ
fsr-3489	419	18	!	!	PUNCT
fsr-3489	420	1	s	s	X
fsr-3489	420	2	,	,	PUNCT
fsr-3489	420	3	0.506	0.506	NUM
fsr-3489	420	4	%	%	NOUN
fsr-3489	420	5	,	,	PUNCT
fsr-3489	420	6	0.446	0.446	NUM
fsr-3489	420	7	%	%	NOUN
fsr-3489	420	8	,	,	PUNCT
fsr-3489	420	9	and	and	CCONJ
fsr-3489	420	10	0.689	0.689	NUM
fsr-3489	420	11	%	%	NOUN
fsr-3489	420	12	,	,	PUNCT
fsr-3489	420	13	respectively	respectively	ADV
fsr-3489	420	14	,	,	PUNCT
fsr-3489	420	15	during	during	ADP
fsr-3489	420	16	the	the	DET
fsr-3489	420	17	full	full	ADJ
fsr-3489	420	18	sample	sample	NOUN
fsr-3489	420	19	period	period	NOUN
fsr-3489	420	20	.	.	PUNCT
fsr-3489	421	1	that	that	PRON
fsr-3489	421	2	is	be	AUX
fsr-3489	421	3	equivalent	equivalent	ADJ
fsr-3489	421	4	to	to	ADP
fsr-3489	421	5	annualized	annualize	VERB
fsr-3489	421	6	outperformance	outperformance	NOUN
fsr-3489	421	7	of	of	ADP
fsr-3489	421	8	6.072	6.072	NUM
fsr-3489	421	9	%	%	NOUN
fsr-3489	421	10	,	,	PUNCT
fsr-3489	421	11	5.352	5.352	NUM
fsr-3489	421	12	%	%	NOUN
fsr-3489	421	13	,	,	PUNCT
fsr-3489	421	14	and	and	CCONJ
fsr-3489	421	15	8.268	8.268	NUM
fsr-3489	421	16	%	%	NOUN
fsr-3489	421	17	,	,	PUNCT
fsr-3489	421	18	respectively	respectively	ADV
fsr-3489	421	19	.	.	PUNCT
fsr-3489	422	1	subsample	subsample	ADJ
fsr-3489	422	2	analysis	analysis	NOUN
fsr-3489	422	3	shows	show	VERB
fsr-3489	422	4	that	that	SCONJ
fsr-3489	422	5	none	none	NOUN
fsr-3489	422	6	of	of	ADP
fsr-3489	422	7	the	the	DET
fsr-3489	422	8	sector	sector	NOUN
fsr-3489	422	9	mfs	mfs	NOUN
fsr-3489	422	10	outperforms	outperform	NOUN
fsr-3489	422	11	in	in	ADP
fsr-3489	422	12	the	the	DET
fsr-3489	422	13	first	first	ADJ
fsr-3489	422	14	half	half	ADJ
fsr-3489	422	15	sample	sample	NOUN
fsr-3489	422	16	period	period	NOUN
fsr-3489	422	17	,	,	PUNCT
fsr-3489	422	18	whereas	whereas	SCONJ
fsr-3489	422	19	the	the	DET
fsr-3489	422	20	materials	material	NOUN
fsr-3489	422	21	and	and	CCONJ
fsr-3489	422	22	the	the	DET
fsr-3489	422	23	industrials	industrial	NOUN
fsr-3489	422	24	mf	mf	VERB
fsr-3489	422	25	outperform	outperform	NOUN
fsr-3489	422	26	in	in	ADP
fsr-3489	422	27	the	the	DET
fsr-3489	422	28	second	second	ADJ
fsr-3489	422	29	half	half	NOUN
fsr-3489	422	30	sample	sample	NOUN
fsr-3489	422	31	period	period	NOUN
fsr-3489	422	32	.	.	PUNCT
fsr-3489	423	1	all	all	DET
fsr-3489	423	2	%	%	NOUN
fsr-3489	423	3	s	s	VERB
fsr-3489	423	4	are	be	AUX
fsr-3489	423	5	positive	positive	ADJ
fsr-3489	423	6	and	and	CCONJ
fsr-3489	423	7	significant	significant	ADJ
fsr-3489	423	8	at	at	ADP
fsr-3489	423	9	the	the	DET
fsr-3489	423	10	1	1	NUM
fsr-3489	423	11	%	%	NOUN
fsr-3489	423	12	level	level	NOUN
fsr-3489	423	13	.	.	PUNCT
fsr-3489	424	1	which	which	DET
fsr-3489	424	2	model	model	NOUN
fsr-3489	424	3	can	can	AUX
fsr-3489	424	4	explain	explain	VERB
fsr-3489	424	5	most	most	ADJ
fsr-3489	424	6	of	of	ADP
fsr-3489	424	7	the	the	DET
fsr-3489	424	8	return	return	NOUN
fsr-3489	424	9	variances	variance	NOUN
fsr-3489	424	10	of	of	ADP
fsr-3489	424	11	sector	sector	NOUN
fsr-3489	424	12	funds	fund	NOUN
fsr-3489	424	13	?	?	PUNCT
fsr-3489	425	1	i	i	PRON
fsr-3489	425	2	summarize	summarize	VERB
fsr-3489	425	3	the	the	DET
fsr-3489	425	4	adjusted	adjust	VERB
fsr-3489	425	5	r2	r2	NOUN
fsr-3489	425	6	for	for	ADP
fsr-3489	425	7	the	the	DET
fsr-3489	425	8	four	four	NUM
fsr-3489	425	9	models	model	NOUN
fsr-3489	425	10	in	in	ADP
fsr-3489	425	11	table	table	NOUN
fsr-3489	425	12	9	9	NUM
fsr-3489	425	13	.	.	PUNCT
fsr-3489	426	1	most	most	ADJ
fsr-3489	426	2	of	of	ADP
fsr-3489	426	3	the	the	DET
fsr-3489	426	4	time	time	NOUN
fsr-3489	426	5	,	,	PUNCT
fsr-3489	426	6	adding	add	VERB
fsr-3489	426	7	hml	hml	PROPN
fsr-3489	426	8	and	and	CCONJ
fsr-3489	426	9	smb	smb	PROPN
fsr-3489	426	10	does	do	AUX
fsr-3489	426	11	increase	increase	VERB
fsr-3489	426	12	the	the	DET
fsr-3489	426	13	adjusted	adjust	VERB
fsr-3489	426	14	r2	r2	NOUN
fsr-3489	426	15	when	when	SCONJ
fsr-3489	426	16	using	use	VERB
fsr-3489	426	17	spy	spy	NOUN
fsr-3489	426	18	as	as	ADP
fsr-3489	426	19	the	the	DET
fsr-3489	426	20	benchmark	benchmark	NOUN
fsr-3489	426	21	.	.	PUNCT
fsr-3489	427	1	only	only	ADV
fsr-3489	427	2	one	one	NUM
fsr-3489	427	3	out	out	ADP
fsr-3489	427	4	of	of	ADP
fsr-3489	427	5	18	18	NUM
fsr-3489	427	6	regressions	regression	NOUN
fsr-3489	427	7	for	for	ADP
fsr-3489	427	8	the	the	DET
fsr-3489	427	9	full	full	ADJ
fsr-3489	427	10	sample	sample	NOUN
fsr-3489	427	11	period	period	NOUN
fsr-3489	427	12	suffers	suffer	VERB
fsr-3489	427	13	a	a	DET
fsr-3489	427	14	slight	slight	ADJ
fsr-3489	427	15	decrease	decrease	NOUN
fsr-3489	427	16	of	of	ADP
fsr-3489	427	17	explaining	explain	VERB
fsr-3489	427	18	power	power	NOUN
fsr-3489	427	19	,	,	PUNCT
fsr-3489	427	20	0.004	0.004	NUM
fsr-3489	427	21	.	.	PUNCT
fsr-3489	428	1	adding	add	VERB
fsr-3489	428	2	mom	mom	NOUN
fsr-3489	428	3	,	,	PUNCT
fsr-3489	428	4	however	however	ADV
fsr-3489	428	5	,	,	PUNCT
fsr-3489	428	6	does	do	AUX
fsr-3489	428	7	not	not	PART
fsr-3489	428	8	increase	increase	VERB
fsr-3489	428	9	adjusted	adjusted	ADJ
fsr-3489	428	10	r2	r2	NOUN
fsr-3489	428	11	across	across	ADP
fsr-3489	428	12	the	the	DET
fsr-3489	428	13	board	board	NOUN
fsr-3489	428	14	.	.	PUNCT
fsr-3489	429	1	over	over	ADP
fsr-3489	429	2	the	the	DET
fsr-3489	429	3	full	full	ADJ
fsr-3489	429	4	sample	sample	NOUN
fsr-3489	429	5	period	period	NOUN
fsr-3489	429	6	,	,	PUNCT
fsr-3489	429	7	the	the	DET
fsr-3489	429	8	average	average	ADJ
fsr-3489	429	9	adjusted	adjust	VERB
fsr-3489	429	10	r2	r2	NOUN
fsr-3489	429	11	across	across	ADP
fsr-3489	429	12	all	all	DET
fsr-3489	429	13	funds	fund	NOUN
fsr-3489	429	14	is	be	AUX
fsr-3489	429	15	0.559	0.559	NUM
fsr-3489	429	16	,	,	PUNCT
fsr-3489	429	17	0.649	0.649	NUM
fsr-3489	429	18	,	,	PUNCT
fsr-3489	429	19	0.653	0.653	NUM
fsr-3489	429	20	,	,	PUNCT
fsr-3489	429	21	and	and	CCONJ
fsr-3489	429	22	0.764	0.764	NUM
fsr-3489	429	23	for	for	ADP
fsr-3489	429	24	the	the	DET
fsr-3489	429	25	one	one	NUM
fsr-3489	429	26	/	/	SYM
fsr-3489	429	27	three	three	NUM
fsr-3489	429	28	/	/	SYM
fsr-3489	429	29	four	four	NUM
fsr-3489	429	30	-	-	PUNCT
fsr-3489	429	31	factor	factor	NOUN
fsr-3489	429	32	model	model	NOUN
fsr-3489	429	33	using	use	VERB
fsr-3489	429	34	spy	spy	NOUN
fsr-3489	429	35	and	and	CCONJ
fsr-3489	429	36	one	one	NUM
fsr-3489	429	37	-	-	PUNCT
fsr-3489	429	38	factor	factor	NOUN
fsr-3489	429	39	262	262	NUM
fsr-3489	429	40	c.y	c.y	PROPN
fsr-3489	429	41	.	.	PROPN
fsr-3489	429	42	lin	lin	PROPN
fsr-3489	429	43	/	/	SYM
fsr-3489	429	44	financial	financial	ADJ
fsr-3489	429	45	services	service	NOUN
fsr-3489	429	46	review	review	VERB
fsr-3489	429	47	23	23	NUM
fsr-3489	429	48	(	(	PUNCT
fsr-3489	429	49	2014	2014	NUM
fsr-3489	429	50	)	)	PUNCT
fsr-3489	430	1	249–271	249–271	NUM
fsr-3489	430	2	t	t	PROPN
fsr-3489	430	3	ab	ab	X
fsr-3489	430	4	le	le	X
fsr-3489	430	5	7	7	NUM
fsr-3489	431	1	fo	fo	INTJ
fsr-3489	432	1	ur	ur	INTJ
fsr-3489	433	1	fa	fa	INTJ
fsr-3489	433	2	ct	ct	INTJ
fsr-3489	433	3	or	or	CCONJ
fsr-3489	433	4	re	re	ADJ
fsr-3489	433	5	gr	gr	VERB
fsr-3489	433	6	es	es	X
fsr-3489	433	7	si	si	X
fsr-3489	433	8	on	on	ADP
fsr-3489	433	9	re	re	PROPN
fsr-3489	433	10	su	su	PROPN
fsr-3489	433	11	lts	lts	VERB
fsr-3489	433	12	us	we	PRON
fsr-3489	433	13	in	in	ADP
fsr-3489	433	14	g	g	PROPN
fsr-3489	433	15	ex	ex	X
fsr-3489	433	16	ce	ce	PROPN
fsr-3489	433	17	ss	ss	PROPN
fsr-3489	433	18	sp	sp	ADP
fsr-3489	433	19	y	y	PROPN
fsr-3489	433	20	re	re	PROPN
fsr-3489	433	21	tu	tu	PROPN
fsr-3489	433	22	rn	rn	PROPN
fsr-3489	433	23	,	,	PUNCT
fsr-3489	433	24	j	j	PROPN
fsr-3489	433	25	an	an	DET
fsr-3489	433	26	ua	ua	PROPN
fsr-3489	433	27	ry	ry	PROPN
fsr-3489	433	28	19	19	NUM
fsr-3489	433	29	99	99	NUM
fsr-3489	433	30	th	th	NOUN
fsr-3489	433	31	ro	ro	NOUN
fsr-3489	433	32	ug	ug	ADP
fsr-3489	433	33	h	h	PROPN
fsr-3489	434	1	d	d	PROPN
fsr-3489	434	2	ec	ec	PROPN
fsr-3489	434	3	em	em	PRON
fsr-3489	434	4	be	be	VERB
fsr-3489	434	5	r	r	NOUN
fsr-3489	434	6	20	20	NUM
fsr-3489	434	7	10	10	NUM
fsr-3489	434	8	fu	fu	NOUN
fsr-3489	434	9	nd	nd	INTJ
fsr-3489	434	10	!	!	PUNCT
fsr-3489	435	1	%	%	INTJ
fsr-3489	436	1	h	h	NOUN
fsr-3489	436	2	m	m	VERB
fsr-3489	436	3	l	l	NOUN
fsr-3489	436	4	sm	sm	PROPN
fsr-3489	436	5	b	b	X
fsr-3489	436	6	m	m	VERB
fsr-3489	436	7	o	o	NOUN
fsr-3489	436	8	m	m	VERB
fsr-3489	436	9	a	a	DET
fsr-3489	436	10	dj	dj	NOUN
fsr-3489	436	11	us	we	PRON
fsr-3489	436	12	te	te	PROPN
fsr-3489	436	13	d	d	NOUN
fsr-3489	436	14	r	r	NOUN
fsr-3489	436	15	2	2	NUM
fsr-3489	436	16	e	e	NOUN
fsr-3489	436	17	st	st	PROPN
fsr-3489	436	18	i	i	X
fsr-3489	436	19	m	m	VERB
fsr-3489	436	20	at	at	ADP
fsr-3489	436	21	e	e	PROPN
fsr-3489	436	22	se	se	PROPN
fsr-3489	436	23	tva	tva	PROPN
fsr-3489	436	24	lu	lu	PROPN
fsr-3489	436	25	e	e	PROPN
fsr-3489	436	26	e	e	X
fsr-3489	436	27	st	st	PROPN
fsr-3489	437	1	i	i	X
fsr-3489	437	2	m	m	VERB
fsr-3489	437	3	at	at	ADP
fsr-3489	437	4	e	e	PROPN
fsr-3489	437	5	se	se	PROPN
fsr-3489	437	6	tva	tva	PROPN
fsr-3489	437	7	lu	lu	PROPN
fsr-3489	437	8	e	e	PROPN
fsr-3489	437	9	e	e	X
fsr-3489	437	10	st	st	PROPN
fsr-3489	437	11	i	i	X
fsr-3489	437	12	m	m	VERB
fsr-3489	437	13	at	at	ADP
fsr-3489	437	14	e	e	PROPN
fsr-3489	437	15	se	se	PROPN
fsr-3489	437	16	tva	tva	PROPN
fsr-3489	437	17	lu	lu	PROPN
fsr-3489	437	18	e	e	PROPN
fsr-3489	437	19	e	e	X
fsr-3489	437	20	st	st	PROPN
fsr-3489	437	21	i	i	X
fsr-3489	437	22	m	m	VERB
fsr-3489	437	23	at	at	ADP
fsr-3489	437	24	e	e	PROPN
fsr-3489	437	25	se	se	PROPN
fsr-3489	437	26	tva	tva	PROPN
fsr-3489	437	27	lu	lu	PROPN
fsr-3489	437	28	e	e	PROPN
fsr-3489	437	29	e	e	X
fsr-3489	437	30	st	st	PROPN
fsr-3489	437	31	i	i	X
fsr-3489	437	32	m	m	VERB
fsr-3489	437	33	at	at	ADP
fsr-3489	437	34	e	e	PROPN
fsr-3489	437	35	se	se	PROPN
fsr-3489	437	36	tva	tva	PROPN
fsr-3489	437	37	lu	lu	PROPN
fsr-3489	437	38	e	e	PROPN
fsr-3489	437	39	b	b	PROPN
fsr-3489	437	40	b	b	PROPN
fsr-3489	437	41	b	b	PROPN
fsr-3489	437	42	0	0	NUM
fsr-3489	437	43	.	.	NOUN
fsr-3489	438	1	70	70	NUM
fsr-3489	438	2	6	6	NUM
fsr-3489	438	3	0	0	NUM
fsr-3489	438	4	.	.	PUNCT
fsr-3489	439	1	34	34	NUM
fsr-3489	439	2	1	1	NUM
fsr-3489	439	3	2	2	NUM
fsr-3489	439	4	.	.	NOUN
fsr-3489	439	5	07	07	NUM
fsr-3489	439	6	2	2	NUM
fsr-3489	439	7	*	*	SYM
fsr-3489	439	8	*	*	PUNCT
fsr-3489	440	1	1	1	NUM
fsr-3489	440	2	.	.	NUM
fsr-3489	440	3	17	17	NUM
fsr-3489	440	4	1	1	NUM
fsr-3489	440	5	0	0	NUM
fsr-3489	440	6	.	.	NUM
fsr-3489	441	1	08	08	NUM
fsr-3489	442	1	1	1	NUM
fsr-3489	442	2	14	14	NUM
fsr-3489	442	3	.5	.5	NUM
fsr-3489	442	4	04	04	NUM
fsr-3489	443	1	*	*	PUNCT
fsr-3489	444	1	*	*	PUNCT
fsr-3489	444	2	*	*	PUNCT
fsr-3489	445	1	0	0	X
fsr-3489	445	2	.	.	X
fsr-3489	445	3	51	51	NUM
fsr-3489	445	4	5	5	NUM
fsr-3489	445	5	0	0	NUM
fsr-3489	445	6	.	.	PUNCT
fsr-3489	445	7	09	09	NUM
fsr-3489	445	8	5	5	NUM
fsr-3489	445	9	5	5	NUM
fsr-3489	445	10	.	.	NOUN
fsr-3489	445	11	43	43	NUM
fsr-3489	445	12	1	1	NUM
fsr-3489	445	13	*	*	PUNCT
fsr-3489	445	14	*	*	PUNCT
fsr-3489	445	15	*	*	PUNCT
fsr-3489	445	16	0	0	NUM
fsr-3489	445	17	.	.	NOUN
fsr-3489	446	1	12	12	NUM
fsr-3489	446	2	8	8	NUM
fsr-3489	446	3	0	0	NUM
fsr-3489	446	4	.	.	NOUN
fsr-3489	446	5	09	09	NUM
fsr-3489	446	6	2	2	NUM
fsr-3489	446	7	1	1	NUM
fsr-3489	446	8	.	.	PUNCT
fsr-3489	446	9	38	38	NUM
fsr-3489	446	10	7	7	NUM
fsr-3489	446	11	0	0	NUM
fsr-3489	446	12	.	.	PUNCT
fsr-3489	446	13	04	04	NUM
fsr-3489	446	14	2	2	NUM
fsr-3489	446	15	0	0	NUM
fsr-3489	446	16	.	.	PUNCT
fsr-3489	447	1	05	05	NUM
fsr-3489	447	2	8	8	NUM
fsr-3489	447	3	0	0	NUM
fsr-3489	447	4	.	.	PUNCT
fsr-3489	448	1	71	71	NUM
fsr-3489	448	2	7	7	NUM
fsr-3489	448	3	0	0	NUM
fsr-3489	448	4	.	.	PUNCT
fsr-3489	449	1	65	65	NUM
fsr-3489	449	2	5	5	NUM
fsr-3489	449	3	x	x	SYM
fsr-3489	449	4	l	l	NOUN
fsr-3489	449	5	b	b	PROPN
fsr-3489	449	6	0	0	NUM
fsr-3489	449	7	.	.	NOUN
fsr-3489	449	8	31	31	NUM
fsr-3489	449	9	6	6	NUM
fsr-3489	449	10	0	0	NUM
fsr-3489	449	11	.	.	PUNCT
fsr-3489	450	1	33	33	NUM
fsr-3489	450	2	2	2	NUM
fsr-3489	450	3	0	0	NUM
fsr-3489	450	4	.	.	PUNCT
fsr-3489	451	1	95	95	NUM
fsr-3489	451	2	3	3	NUM
fsr-3489	451	3	1	1	NUM
fsr-3489	451	4	.	.	NUM
fsr-3489	451	5	19	19	NUM
fsr-3489	451	6	6	6	NUM
fsr-3489	451	7	0	0	NUM
fsr-3489	451	8	.	.	PUNCT
fsr-3489	452	1	07	07	NUM
fsr-3489	452	2	9	9	NUM
fsr-3489	452	3	15	15	NUM
fsr-3489	452	4	.2	.2	NUM
fsr-3489	452	5	14	14	NUM
fsr-3489	452	6	*	*	PUNCT
fsr-3489	452	7	*	*	PUNCT
fsr-3489	453	1	*	*	PUNCT
fsr-3489	453	2	0	0	NUM
fsr-3489	453	3	.	.	NOUN
fsr-3489	453	4	44	44	NUM
fsr-3489	453	5	0	0	NUM
fsr-3489	453	6	0	0	NUM
fsr-3489	453	7	.	.	NOUN
fsr-3489	453	8	09	09	NUM
fsr-3489	453	9	2	2	NUM
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fsr-3489	536	7	.	.	PUNCT
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fsr-3489	537	36	.	.	PUNCT
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fsr-3489	537	45	.	.	PUNCT
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fsr-3489	537	49	.	.	PUNCT
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fsr-3489	537	66	.	.	PUNCT
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fsr-3489	538	4	.	.	PUNCT
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fsr-3489	538	8	.	.	PUNCT
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fsr-3489	539	4	.	.	PUNCT
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fsr-3489	555	19	.	.	PUNCT
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fsr-3489	571	15	ct	ct	INTJ
fsr-3489	571	16	or	or	CCONJ
fsr-3489	571	17	,	,	PUNCT
fsr-3489	571	18	th	th	X
fsr-3489	571	19	e	e	NOUN
fsr-3489	571	20	u	u	NOUN
fsr-3489	571	21	til	til	PROPN
fsr-3489	571	22	iti	iti	PROPN
fsr-3489	571	23	es	es	X
fsr-3489	571	24	se	se	PROPN
fsr-3489	572	1	ct	ct	PROPN
fsr-3489	573	1	or	or	CCONJ
fsr-3489	573	2	,	,	PUNCT
fsr-3489	573	3	th	th	X
fsr-3489	573	4	e	e	NOUN
fsr-3489	573	5	h	h	NOUN
fsr-3489	573	6	ea	ea	INTJ
fsr-3489	574	1	lth	lth	PROPN
fsr-3489	574	2	ca	can	AUX
fsr-3489	574	3	re	re	VERB
fsr-3489	574	4	se	se	PROPN
fsr-3489	574	5	ct	ct	PROPN
fsr-3489	574	6	or	or	CCONJ
fsr-3489	574	7	,	,	PUNCT
fsr-3489	574	8	an	an	DET
fsr-3489	574	9	d	d	X
fsr-3489	574	10	th	th	X
fsr-3489	574	11	e	e	X
fsr-3489	574	12	c	c	X
fsr-3489	574	13	on	on	ADP
fsr-3489	574	14	su	su	PROPN
fsr-3489	574	15	m	m	PROPN
fsr-3489	574	16	er	er	INTJ
fsr-3489	574	17	d	d	NOUN
fsr-3489	574	18	is	be	AUX
fsr-3489	574	19	cr	cr	INTJ
fsr-3489	574	20	et	et	NOUN
fsr-3489	574	21	io	io	X
fsr-3489	574	22	na	na	VERB
fsr-3489	574	23	ry	ry	PROPN
fsr-3489	574	24	se	se	PROPN
fsr-3489	574	25	ct	ct	INTJ
fsr-3489	574	26	or	or	CCONJ
fsr-3489	574	27	,	,	PUNCT
fsr-3489	575	1	r	r	NOUN
fsr-3489	575	2	es	es	X
fsr-3489	575	3	pe	pe	INTJ
fsr-3489	575	4	ct	ct	NUM
fsr-3489	575	5	iv	iv	NUM
fsr-3489	575	6	el	el	PROPN
fsr-3489	575	7	y.	y.	PROPN
fsr-3489	575	8	x	x	PROPN
fsr-3489	576	1	l	l	NOUN
fsr-3489	576	2	b	b	PROPN
fsr-3489	576	3	,	,	PUNCT
fsr-3489	576	4	x	x	X
fsr-3489	576	5	l	l	NOUN
fsr-3489	576	6	e	e	NOUN
fsr-3489	576	7	,	,	PUNCT
fsr-3489	576	8	x	x	X
fsr-3489	576	9	l	l	NOUN
fsr-3489	576	10	f	f	X
fsr-3489	576	11	,	,	PUNCT
fsr-3489	576	12	x	x	X
fsr-3489	576	13	l	l	NOUN
fsr-3489	576	14	i	i	NOUN
fsr-3489	576	15	,	,	PUNCT
fsr-3489	576	16	x	x	X
fsr-3489	576	17	l	l	NOUN
fsr-3489	576	18	k	k	X
fsr-3489	576	19	,	,	PUNCT
fsr-3489	576	20	x	x	X
fsr-3489	576	21	l	l	NOUN
fsr-3489	576	22	p	p	X
fsr-3489	576	23	,	,	PUNCT
fsr-3489	576	24	x	x	X
fsr-3489	576	25	l	l	NOUN
fsr-3489	576	26	u	u	NOUN
fsr-3489	576	27	,	,	PUNCT
fsr-3489	576	28	x	x	PROPN
fsr-3489	576	29	l	l	NOUN
fsr-3489	576	30	v	v	NOUN
fsr-3489	576	31	,	,	PUNCT
fsr-3489	576	32	a	a	DET
fsr-3489	576	33	nd	nd	NOUN
fsr-3489	576	34	x	x	SYM
fsr-3489	576	35	l	l	NOUN
fsr-3489	576	36	y	y	NOUN
fsr-3489	576	37	re	re	AUX
fsr-3489	576	38	pr	pr	VERB
fsr-3489	576	39	es	es	VERB
fsr-3489	576	40	en	en	ADP
fsr-3489	576	41	t	t	X
fsr-3489	576	42	th	th	X
fsr-3489	576	43	e	e	X
fsr-3489	576	44	se	se	X
fsr-3489	576	45	le	le	X
fsr-3489	576	46	ct	ct	PROPN
fsr-3489	576	47	se	se	PROPN
fsr-3489	576	48	ct	ct	PROPN
fsr-3489	576	49	or	or	CCONJ
fsr-3489	576	50	sp	sp	ADP
fsr-3489	576	51	d	d	NOUN
fsr-3489	576	52	r	r	NOUN
fsr-3489	576	53	e	e	NOUN
fsr-3489	576	54	t	t	X
fsr-3489	576	55	fs	fs	NOUN
fsr-3489	577	1	fo	fo	INTJ
fsr-3489	577	2	r	r	NOUN
fsr-3489	577	3	th	th	X
fsr-3489	577	4	es	es	X
fsr-3489	577	5	e	e	PROPN
fsr-3489	577	6	ni	ni	PROPN
fsr-3489	577	7	ne	ne	PROPN
fsr-3489	577	8	se	se	PROPN
fsr-3489	577	9	ct	ct	PROPN
fsr-3489	577	10	or	or	CCONJ
fsr-3489	577	11	s	s	PROPN
fsr-3489	577	12	,	,	PUNCT
fsr-3489	577	13	re	re	ADP
fsr-3489	577	14	sp	sp	ADP
fsr-3489	577	15	ec	ec	PROPN
fsr-3489	577	16	tiv	tiv	PROPN
fsr-3489	577	17	el	el	PROPN
fsr-3489	577	18	y.	y.	PROPN
fsr-3489	577	19	sp	sp	ADP
fsr-3489	577	20	y	y	PROPN
fsr-3489	577	21	re	re	X
fsr-3489	577	22	pr	pr	VERB
fsr-3489	577	23	es	es	X
fsr-3489	577	24	en	en	X
fsr-3489	577	25	ts	ts	X
fsr-3489	577	26	th	th	X
fsr-3489	577	27	e	e	X
fsr-3489	577	28	sp	sp	ADP
fsr-3489	577	29	d	d	PROPN
fsr-3489	577	30	r	r	NOUN
fsr-3489	577	31	s	s	PROPN
fsr-3489	577	32	&	&	CCONJ
fsr-3489	577	33	p	p	NOUN
fsr-3489	577	34	50	50	NUM
fsr-3489	577	35	0	0	NUM
fsr-3489	577	36	t	t	PROPN
fsr-3489	577	37	ru	ru	PROPN
fsr-3489	577	38	st	st	PROPN
fsr-3489	577	39	.	.	PUNCT
fsr-3489	578	1	*	*	PUNCT
fsr-3489	579	1	*	*	PUNCT
fsr-3489	579	2	*	*	PUNCT
fsr-3489	579	3	s	s	AUX
fsr-3489	579	4	ig	ig	PROPN
fsr-3489	579	5	ni	ni	PROPN
fsr-3489	579	6	fic	fic	PROPN
fsr-3489	579	7	an	an	PROPN
fsr-3489	579	8	t	t	NOUN
fsr-3489	579	9	at	at	ADP
fsr-3489	579	10	th	th	X
fsr-3489	579	11	e	e	ADP
fsr-3489	579	12	1	1	NUM
fsr-3489	579	13	%	%	NOUN
fsr-3489	579	14	le	le	X
fsr-3489	579	15	ve	ve	AUX
fsr-3489	579	16	l.	l.	PROPN
fsr-3489	579	17	*	*	PUNCT
fsr-3489	579	18	*	*	PUNCT
fsr-3489	579	19	si	si	PROPN
fsr-3489	579	20	gn	gn	PROPN
fsr-3489	579	21	ifi	ifi	PROPN
fsr-3489	579	22	ca	can	AUX
fsr-3489	579	23	nt	not	PART
fsr-3489	579	24	at	at	ADP
fsr-3489	579	25	th	th	X
fsr-3489	579	26	e	e	X
fsr-3489	579	27	5	5	NUM
fsr-3489	579	28	%	%	NOUN
fsr-3489	579	29	le	le	X
fsr-3489	579	30	ve	ve	AUX
fsr-3489	579	31	l.	l.	PROPN
fsr-3489	579	32	263c.y	263c.y	NUM
fsr-3489	579	33	.	.	PUNCT
fsr-3489	580	1	lin	lin	PROPN
fsr-3489	580	2	/	/	SYM
fsr-3489	580	3	financial	financial	ADJ
fsr-3489	580	4	services	service	NOUN
fsr-3489	580	5	review	review	VERB
fsr-3489	580	6	23	23	NUM
fsr-3489	580	7	(	(	PUNCT
fsr-3489	580	8	2014	2014	NUM
fsr-3489	580	9	)	)	PUNCT
fsr-3489	581	1	249–271	249–271	NUM
fsr-3489	581	2	model	model	NOUN
fsr-3489	581	3	using	use	VERB
fsr-3489	581	4	peer	peer	NOUN
fsr-3489	581	5	etf	etf	NOUN
fsr-3489	581	6	,	,	PUNCT
fsr-3489	581	7	respectively	respectively	ADV
fsr-3489	581	8	.	.	PUNCT
fsr-3489	582	1	on	on	ADP
fsr-3489	582	2	average	average	ADJ
fsr-3489	582	3	,	,	PUNCT
fsr-3489	582	4	peer	peer	NOUN
fsr-3489	582	5	etf	etf	NOUN
fsr-3489	582	6	benchmarking	benchmarking	NOUN
fsr-3489	582	7	provides	provide	VERB
fsr-3489	582	8	the	the	DET
fsr-3489	582	9	best	good	ADJ
fsr-3489	582	10	model	model	NOUN
fsr-3489	582	11	fit	fit	NOUN
fsr-3489	582	12	for	for	ADP
fsr-3489	582	13	fund	fund	NOUN
fsr-3489	582	14	returns	return	NOUN
fsr-3489	582	15	.	.	PUNCT
fsr-3489	583	1	this	this	DET
fsr-3489	583	2	result	result	NOUN
fsr-3489	583	3	is	be	AUX
fsr-3489	583	4	similar	similar	ADJ
fsr-3489	583	5	with	with	ADP
fsr-3489	583	6	dellva	dellva	NOUN
fsr-3489	583	7	,	,	PUNCT
fsr-3489	583	8	demaskey	demaskey	ADJ
fsr-3489	583	9	,	,	PUNCT
fsr-3489	583	10	and	and	CCONJ
fsr-3489	583	11	smith	smith	PROPN
fsr-3489	583	12	(	(	PUNCT
fsr-3489	583	13	2001	2001	NUM
fsr-3489	583	14	)	)	PUNCT
fsr-3489	583	15	and	and	CCONJ
fsr-3489	583	16	kaushik	kaushik	PROPN
fsr-3489	583	17	,	,	PUNCT
fsr-3489	583	18	pennathur	pennathur	ADJ
fsr-3489	583	19	,	,	PUNCT
fsr-3489	583	20	and	and	CCONJ
fsr-3489	583	21	barnhart	barnhart	PROPN
fsr-3489	583	22	(	(	PUNCT
fsr-3489	583	23	2010	2010	NUM
fsr-3489	583	24	)	)	PUNCT
fsr-3489	583	25	.	.	PUNCT
fsr-3489	584	1	table	table	NOUN
fsr-3489	584	2	8	8	NUM
fsr-3489	584	3	one	one	NUM
fsr-3489	584	4	factor	factor	NOUN
fsr-3489	584	5	model	model	NOUN
fsr-3489	584	6	results	result	NOUN
fsr-3489	584	7	using	use	VERB
fsr-3489	584	8	peer	peer	NOUN
fsr-3489	584	9	etf	etf	NOUN
fsr-3489	584	10	excess	excess	ADJ
fsr-3489	584	11	return	return	NOUN
fsr-3489	584	12	,	,	PUNCT
fsr-3489	584	13	january	january	PROPN
fsr-3489	584	14	1999	1999	NUM
fsr-3489	584	15	through	through	ADP
fsr-3489	584	16	december	december	PROPN
fsr-3489	584	17	2010	2010	NUM
fsr-3489	584	18	fund	fund	NOUN
fsr-3489	584	19	!	!	PUNCT
fsr-3489	585	1	%	%	INTJ
fsr-3489	585	2	adjusted	adjust	VERB
fsr-3489	585	3	r2	r2	PROPN
fsr-3489	585	4	estimate	estimate	NOUN
fsr-3489	585	5	se	se	PROPN
fsr-3489	585	6	t	t	PROPN
fsr-3489	585	7	-	-	PUNCT
fsr-3489	585	8	value	value	NOUN
fsr-3489	585	9	estimate	estimate	NOUN
fsr-3489	585	10	se	se	PROPN
fsr-3489	585	11	t	t	PROPN
fsr-3489	585	12	-	-	PUNCT
fsr-3489	585	13	value	value	NOUN
fsr-3489	585	14	bbb	bbb	PROPN
fsr-3489	585	15	0.506	0.506	NUM
fsr-3489	585	16	0.196	0.196	NUM
fsr-3489	585	17	2.588	2.588	NUM
fsr-3489	585	18	*	*	PUNCT
fsr-3489	585	19	*	*	PUNCT
fsr-3489	585	20	0.943	0.943	NUM
fsr-3489	585	21	0.029	0.029	NUM
fsr-3489	585	22	32.566	32.566	NUM
fsr-3489	585	23	*	*	PUNCT
fsr-3489	585	24	*	*	PUNCT
fsr-3489	585	25	*	*	PUNCT
fsr-3489	585	26	0.881	0.881	NUM
fsr-3489	585	27	eee	eee	NOUN
fsr-3489	585	28	0.167	0.167	NUM
fsr-3489	585	29	0.167	0.167	NUM
fsr-3489	585	30	0.998	0.998	NUM
fsr-3489	585	31	1.095	1.095	NUM
fsr-3489	585	32	0.026	0.026	NUM
fsr-3489	585	33	42.875	42.875	NUM
fsr-3489	585	34	*	*	PUNCT
fsr-3489	585	35	*	*	PUNCT
fsr-3489	585	36	*	*	X
fsr-3489	585	37	0.927	0.927	NUM
fsr-3489	585	38	fff	fff	PROPN
fsr-3489	585	39	0.113	0.113	NUM
fsr-3489	585	40	0.137	0.137	NUM
fsr-3489	585	41	0.820	0.820	NUM
fsr-3489	585	42	0.872	0.872	NUM
fsr-3489	585	43	0.020	0.020	NUM
fsr-3489	585	44	43.574	43.574	NUM
fsr-3489	585	45	*	*	PUNCT
fsr-3489	585	46	*	*	PUNCT
fsr-3489	585	47	*	*	NUM
fsr-3489	585	48	0.929	0.929	NUM
fsr-3489	585	49	iii	iii	NUM
fsr-3489	585	50	0.446	0.446	NUM
fsr-3489	585	51	0.158	0.158	NUM
fsr-3489	585	52	2.815	2.815	NUM
fsr-3489	585	53	*	*	PUNCT
fsr-3489	585	54	*	*	PUNCT
fsr-3489	585	55	*	*	PUNCT
fsr-3489	585	56	1.004	1.004	NUM
fsr-3489	585	57	0.027	0.027	NUM
fsr-3489	585	58	36.969	36.969	NUM
fsr-3489	585	59	*	*	PUNCT
fsr-3489	585	60	*	*	PUNCT
fsr-3489	585	61	*	*	X
fsr-3489	585	62	0.909	0.909	NUM
fsr-3489	585	63	kkk	kkk	NOUN
fsr-3489	585	64	0.689	0.689	NUM
fsr-3489	585	65	0.306	0.306	NUM
fsr-3489	585	66	2.249	2.249	NUM
fsr-3489	585	67	*	*	PUNCT
fsr-3489	585	68	*	*	PUNCT
fsr-3489	586	1	1.170	1.170	NUM
fsr-3489	586	2	0.038	0.038	NUM
fsr-3489	586	3	30.712	30.712	NUM
fsr-3489	586	4	*	*	PUNCT
fsr-3489	586	5	*	*	PUNCT
fsr-3489	586	6	*	*	X
fsr-3489	586	7	0.868	0.868	NUM
fsr-3489	586	8	ppp	ppp	NOUN
fsr-3489	586	9	0.332	0.332	NUM
fsr-3489	586	10	0.175	0.175	NUM
fsr-3489	586	11	1.895	1.895	NUM
fsr-3489	586	12	0.831	0.831	NUM
fsr-3489	586	13	0.047	0.047	NUM
fsr-3489	586	14	17.529	17.529	NUM
fsr-3489	586	15	*	*	PUNCT
fsr-3489	586	16	*	*	PUNCT
fsr-3489	586	17	*	*	X
fsr-3489	586	18	0.681	0.681	NUM
fsr-3489	586	19	uuu	uuu	NOUN
fsr-3489	586	20	"	"	PUNCT
fsr-3489	586	21	0.064	0.064	NUM
fsr-3489	586	22	0.316	0.316	NUM
fsr-3489	586	23	"	"	PUNCT
fsr-3489	586	24	0.204	0.204	NUM
fsr-3489	586	25	0.710	0.710	NUM
fsr-3489	586	26	0.068	0.068	NUM
fsr-3489	586	27	10.480	10.480	NUM
fsr-3489	586	28	*	*	PUNCT
fsr-3489	586	29	*	*	PUNCT
fsr-3489	586	30	*	*	NOUN
fsr-3489	586	31	0.432	0.432	NUM
fsr-3489	586	32	vvv	vvv	VERB
fsr-3489	586	33	0.166	0.166	NUM
fsr-3489	586	34	0.269	0.269	NUM
fsr-3489	586	35	0.618	0.618	NUM
fsr-3489	586	36	0.623	0.623	NUM
fsr-3489	586	37	0.063	0.063	NUM
fsr-3489	586	38	9.901	9.901	NUM
fsr-3489	586	39	*	*	PUNCT
fsr-3489	586	40	*	*	PUNCT
fsr-3489	586	41	*	*	X
fsr-3489	586	42	0.404	0.404	NUM
fsr-3489	586	43	yyy	yyy	NOUN
fsr-3489	586	44	"	"	PUNCT
fsr-3489	586	45	0.095	0.095	NUM
fsr-3489	586	46	0.160	0.160	NUM
fsr-3489	586	47	"	"	PUNCT
fsr-3489	586	48	0.595	0.595	NUM
fsr-3489	586	49	0.764	0.764	NUM
fsr-3489	586	50	0.027	0.027	NUM
fsr-3489	586	51	28.011	28.011	NUM
fsr-3489	586	52	*	*	PUNCT
fsr-3489	586	53	*	*	PUNCT
fsr-3489	586	54	*	*	X
fsr-3489	586	55	0.845	0.845	NUM
fsr-3489	586	56	note	note	NOUN
fsr-3489	586	57	:	:	PUNCT
fsr-3489	586	58	bbb	bbb	NOUN
fsr-3489	586	59	,	,	PUNCT
fsr-3489	586	60	eee	eee	PROPN
fsr-3489	586	61	,	,	PUNCT
fsr-3489	586	62	fff	fff	PROPN
fsr-3489	586	63	,	,	PUNCT
fsr-3489	586	64	iii	iii	PROPN
fsr-3489	586	65	,	,	PUNCT
fsr-3489	586	66	kkk	kkk	PROPN
fsr-3489	586	67	,	,	PUNCT
fsr-3489	586	68	ppp	ppp	PROPN
fsr-3489	586	69	,	,	PUNCT
fsr-3489	586	70	uuu	uuu	PROPN
fsr-3489	586	71	,	,	PUNCT
fsr-3489	586	72	vvv	vvv	PROPN
fsr-3489	586	73	,	,	PUNCT
fsr-3489	586	74	and	and	CCONJ
fsr-3489	586	75	yyy	yyy	PROPN
fsr-3489	586	76	represent	represent	VERB
fsr-3489	586	77	the	the	DET
fsr-3489	586	78	fidelity	fidelity	PROPN
fsr-3489	586	79	select	select	PROPN
fsr-3489	586	80	portfolio	portfolio	NOUN
fsr-3489	586	81	mutual	mutual	ADJ
fsr-3489	586	82	funds	fund	NOUN
fsr-3489	586	83	for	for	ADP
fsr-3489	586	84	the	the	DET
fsr-3489	586	85	materials	material	NOUN
fsr-3489	586	86	sector	sector	NOUN
fsr-3489	586	87	,	,	PUNCT
fsr-3489	586	88	the	the	DET
fsr-3489	586	89	energy	energy	NOUN
fsr-3489	586	90	sector	sector	NOUN
fsr-3489	586	91	,	,	PUNCT
fsr-3489	586	92	the	the	DET
fsr-3489	586	93	financial	financial	ADJ
fsr-3489	586	94	sector	sector	NOUN
fsr-3489	586	95	,	,	PUNCT
fsr-3489	586	96	the	the	DET
fsr-3489	586	97	industrials	industrial	NOUN
fsr-3489	586	98	sector	sector	NOUN
fsr-3489	586	99	,	,	PUNCT
fsr-3489	586	100	the	the	DET
fsr-3489	586	101	technology	technology	NOUN
fsr-3489	586	102	sector	sector	NOUN
fsr-3489	586	103	,	,	PUNCT
fsr-3489	586	104	the	the	DET
fsr-3489	586	105	consumer	consumer	NOUN
fsr-3489	586	106	staples	staple	NOUN
fsr-3489	586	107	sector	sector	NOUN
fsr-3489	586	108	,	,	PUNCT
fsr-3489	586	109	the	the	DET
fsr-3489	586	110	utilities	utility	NOUN
fsr-3489	586	111	sector	sector	NOUN
fsr-3489	586	112	,	,	PUNCT
fsr-3489	586	113	the	the	DET
fsr-3489	586	114	healthcare	healthcare	NOUN
fsr-3489	586	115	sector	sector	NOUN
fsr-3489	586	116	,	,	PUNCT
fsr-3489	586	117	and	and	CCONJ
fsr-3489	586	118	the	the	DET
fsr-3489	586	119	consumer	consumer	NOUN
fsr-3489	586	120	discretionary	discretionary	ADJ
fsr-3489	586	121	sector	sector	NOUN
fsr-3489	586	122	,	,	PUNCT
fsr-3489	586	123	respectively	respectively	ADV
fsr-3489	586	124	.	.	PUNCT
fsr-3489	587	1	*	*	PUNCT
fsr-3489	587	2	*	*	PUNCT
fsr-3489	587	3	*	*	PUNCT
fsr-3489	587	4	significant	significant	ADJ
fsr-3489	587	5	at	at	ADP
fsr-3489	587	6	the	the	DET
fsr-3489	587	7	1	1	NUM
fsr-3489	587	8	%	%	NOUN
fsr-3489	587	9	level	level	NOUN
fsr-3489	587	10	.	.	PUNCT
fsr-3489	588	1	*	*	PUNCT
fsr-3489	588	2	*	*	PUNCT
fsr-3489	588	3	significant	significant	ADJ
fsr-3489	588	4	at	at	ADP
fsr-3489	588	5	the	the	DET
fsr-3489	588	6	5	5	NUM
fsr-3489	588	7	%	%	NOUN
fsr-3489	588	8	level	level	NOUN
fsr-3489	588	9	.	.	PUNCT
fsr-3489	589	1	table	table	NOUN
fsr-3489	589	2	9	9	NUM
fsr-3489	589	3	adjusted	adjust	VERB
fsr-3489	589	4	r2	r2	PROPN
fsr-3489	589	5	comparison	comparison	NOUN
fsr-3489	589	6	for	for	ADP
fsr-3489	589	7	different	different	ADJ
fsr-3489	589	8	models	model	NOUN
fsr-3489	589	9	,	,	PUNCT
fsr-3489	589	10	january	january	PROPN
fsr-3489	589	11	1999	1999	NUM
fsr-3489	589	12	through	through	ADP
fsr-3489	589	13	december	december	PROPN
fsr-3489	589	14	2010	2010	NUM
fsr-3489	589	15	fund	fund	NOUN
fsr-3489	589	16	1	1	NUM
fsr-3489	589	17	-	-	PUNCT
fsr-3489	589	18	factor	factor	NOUN
fsr-3489	589	19	model	model	NOUN
fsr-3489	589	20	(	(	PUNCT
fsr-3489	589	21	spy	spy	NOUN
fsr-3489	589	22	)	)	PUNCT
fsr-3489	589	23	3	3	NUM
fsr-3489	589	24	-	-	PUNCT
fsr-3489	589	25	factor	factor	NOUN
fsr-3489	589	26	model	model	NOUN
fsr-3489	589	27	(	(	PUNCT
fsr-3489	589	28	spy	spy	NOUN
fsr-3489	589	29	)	)	PUNCT
fsr-3489	589	30	4	4	NUM
fsr-3489	589	31	-	-	PUNCT
fsr-3489	589	32	factor	factor	NOUN
fsr-3489	589	33	model	model	NOUN
fsr-3489	589	34	(	(	PUNCT
fsr-3489	589	35	spy	spy	NOUN
fsr-3489	589	36	)	)	PUNCT
fsr-3489	589	37	1	1	NUM
fsr-3489	589	38	-	-	PUNCT
fsr-3489	589	39	factor	factor	NOUN
fsr-3489	589	40	model	model	NOUN
fsr-3489	589	41	(	(	PUNCT
fsr-3489	589	42	peer	peer	NOUN
fsr-3489	589	43	etf	etf	NOUN
fsr-3489	589	44	)	)	PUNCT
fsr-3489	589	45	bbb	bbb	PROPN
fsr-3489	589	46	0.590	0.590	NUM
fsr-3489	589	47	0.656	0.656	NUM
fsr-3489	589	48	0.655	0.655	NUM
fsr-3489	589	49	0.881	0.881	NUM
fsr-3489	589	50	xlb	xlb	NOUN
fsr-3489	589	51	0.620	0.620	NUM
fsr-3489	589	52	0.672	0.672	NUM
fsr-3489	589	53	0.670	0.670	NUM
fsr-3489	589	54	eee	eee	NOUN
fsr-3489	589	55	0.363	0.363	NUM
fsr-3489	589	56	0.379	0.379	NUM
fsr-3489	589	57	0.389	0.389	NUM
fsr-3489	589	58	0.927	0.927	NUM
fsr-3489	589	59	xle	xle	NOUN
fsr-3489	589	60	0.352	0.352	NUM
fsr-3489	589	61	0.378	0.378	NUM
fsr-3489	589	62	0.394	0.394	NUM
fsr-3489	589	63	fff	fff	PROPN
fsr-3489	589	64	0.644	0.644	NUM
fsr-3489	589	65	0.783	0.783	NUM
fsr-3489	589	66	0.786	0.786	NUM
fsr-3489	589	67	0.929	0.929	NUM
fsr-3489	589	68	xlf	xlf	PROPN
fsr-3489	589	69	0.638	0.638	NUM
fsr-3489	589	70	0.796	0.796	NUM
fsr-3489	589	71	0.802	0.802	NUM
fsr-3489	589	72	iii	iii	NUM
fsr-3489	589	73	0.789	0.789	NUM
fsr-3489	589	74	0.856	0.856	NUM
fsr-3489	589	75	0.855	0.855	NUM
fsr-3489	589	76	0.909	0.909	NUM
fsr-3489	589	77	xli	xli	PROPN
fsr-3489	589	78	0.778	0.778	NUM
fsr-3489	589	79	0.820	0.820	NUM
fsr-3489	589	80	0.821	0.821	NUM
fsr-3489	589	81	kkk	kkk	NOUN
fsr-3489	589	82	0.617	0.617	NUM
fsr-3489	589	83	0.901	0.901	NUM
fsr-3489	589	84	0.900	0.900	NUM
fsr-3489	589	85	0.868	0.868	NUM
fsr-3489	589	86	xlk	xlk	NOUN
fsr-3489	589	87	0.715	0.715	NUM
fsr-3489	589	88	0.894	0.894	NUM
fsr-3489	589	89	0.899	0.899	NUM
fsr-3489	589	90	ppp	ppp	NOUN
fsr-3489	589	91	0.363	0.363	NUM
fsr-3489	589	92	0.544	0.544	NUM
fsr-3489	589	93	0.548	0.548	NUM
fsr-3489	589	94	0.681	0.681	NUM
fsr-3489	589	95	xlp	xlp	NOUN
fsr-3489	589	96	0.315	0.315	NUM
fsr-3489	589	97	0.467	0.467	NUM
fsr-3489	589	98	0.469	0.469	NUM
fsr-3489	589	99	uuu	uuu	NOUN
fsr-3489	589	100	0.557	0.557	NUM
fsr-3489	589	101	0.577	0.577	NUM
fsr-3489	589	102	0.578	0.578	NUM
fsr-3489	589	103	0.432	0.432	NUM
fsr-3489	589	104	xlu	xlu	VERB
fsr-3489	589	105	0.240	0.240	NUM
fsr-3489	589	106	0.381	0.381	NUM
fsr-3489	589	107	0.387	0.387	NUM
fsr-3489	589	108	vvv	vvv	NOUN
fsr-3489	589	109	0.406	0.406	NUM
fsr-3489	589	110	0.402	0.402	NUM
fsr-3489	589	111	0.415	0.415	NUM
fsr-3489	589	112	0.404	0.404	NUM
fsr-3489	589	113	xlv	xlv	PROPN
fsr-3489	589	114	0.609	0.609	NUM
fsr-3489	589	115	0.614	0.614	NUM
fsr-3489	589	116	0.612	0.612	NUM
fsr-3489	589	117	yyy	yyy	NOUN
fsr-3489	589	118	0.737	0.737	NUM
fsr-3489	589	119	0.800	0.800	NUM
fsr-3489	589	120	0.799	0.799	NUM
fsr-3489	589	121	0.845	0.845	NUM
fsr-3489	589	122	xly	xly	PROPN
fsr-3489	589	123	0.728	0.728	NUM
fsr-3489	589	124	0.760	0.760	NUM
fsr-3489	589	125	0.769	0.769	NUM
fsr-3489	589	126	note	note	NOUN
fsr-3489	589	127	:	:	PUNCT
fsr-3489	589	128	bbb	bbb	NUM
fsr-3489	589	129	,	,	PUNCT
fsr-3489	589	130	eee	eee	PROPN
fsr-3489	589	131	,	,	PUNCT
fsr-3489	589	132	fff	fff	PROPN
fsr-3489	589	133	,	,	PUNCT
fsr-3489	589	134	iii	iii	PROPN
fsr-3489	589	135	,	,	PUNCT
fsr-3489	589	136	kkk	kkk	PROPN
fsr-3489	589	137	,	,	PUNCT
fsr-3489	589	138	ppp	ppp	PROPN
fsr-3489	589	139	,	,	PUNCT
fsr-3489	589	140	uuu	uuu	PROPN
fsr-3489	589	141	,	,	PUNCT
fsr-3489	589	142	vvv	vvv	PROPN
fsr-3489	589	143	,	,	PUNCT
fsr-3489	589	144	and	and	CCONJ
fsr-3489	589	145	yyy	yyy	PROPN
fsr-3489	589	146	represent	represent	VERB
fsr-3489	589	147	the	the	DET
fsr-3489	589	148	fidelity	fidelity	PROPN
fsr-3489	589	149	select	select	PROPN
fsr-3489	589	150	portfolio	portfolio	NOUN
fsr-3489	589	151	mutual	mutual	ADJ
fsr-3489	589	152	funds	fund	NOUN
fsr-3489	589	153	for	for	ADP
fsr-3489	589	154	the	the	DET
fsr-3489	589	155	materials	material	NOUN
fsr-3489	589	156	sector	sector	NOUN
fsr-3489	589	157	,	,	PUNCT
fsr-3489	589	158	the	the	DET
fsr-3489	589	159	energy	energy	NOUN
fsr-3489	589	160	sector	sector	NOUN
fsr-3489	589	161	,	,	PUNCT
fsr-3489	589	162	the	the	DET
fsr-3489	589	163	financial	financial	ADJ
fsr-3489	589	164	sector	sector	NOUN
fsr-3489	589	165	,	,	PUNCT
fsr-3489	589	166	the	the	DET
fsr-3489	589	167	industrials	industrial	NOUN
fsr-3489	589	168	sector	sector	NOUN
fsr-3489	589	169	,	,	PUNCT
fsr-3489	589	170	the	the	DET
fsr-3489	589	171	technology	technology	NOUN
fsr-3489	589	172	sector	sector	NOUN
fsr-3489	589	173	,	,	PUNCT
fsr-3489	589	174	the	the	DET
fsr-3489	589	175	consumer	consumer	NOUN
fsr-3489	589	176	staples	staple	NOUN
fsr-3489	589	177	sector	sector	NOUN
fsr-3489	589	178	,	,	PUNCT
fsr-3489	589	179	the	the	DET
fsr-3489	589	180	utilities	utility	NOUN
fsr-3489	589	181	sector	sector	NOUN
fsr-3489	589	182	,	,	PUNCT
fsr-3489	589	183	the	the	DET
fsr-3489	589	184	healthcare	healthcare	NOUN
fsr-3489	589	185	sector	sector	NOUN
fsr-3489	589	186	,	,	PUNCT
fsr-3489	589	187	and	and	CCONJ
fsr-3489	589	188	the	the	DET
fsr-3489	589	189	consumer	consumer	NOUN
fsr-3489	589	190	discretionary	discretionary	ADJ
fsr-3489	589	191	sector	sector	NOUN
fsr-3489	589	192	,	,	PUNCT
fsr-3489	589	193	respectively	respectively	ADV
fsr-3489	589	194	.	.	PUNCT
fsr-3489	590	1	xlb	xlb	PROPN
fsr-3489	590	2	,	,	PUNCT
fsr-3489	590	3	xle	xle	PROPN
fsr-3489	590	4	,	,	PUNCT
fsr-3489	590	5	xlf	xlf	PROPN
fsr-3489	590	6	,	,	PUNCT
fsr-3489	590	7	xli	xli	PROPN
fsr-3489	590	8	,	,	PUNCT
fsr-3489	590	9	xlk	xlk	PROPN
fsr-3489	590	10	,	,	PUNCT
fsr-3489	590	11	xlp	xlp	PROPN
fsr-3489	590	12	,	,	PUNCT
fsr-3489	590	13	xlu	xlu	ADJ
fsr-3489	590	14	,	,	PUNCT
fsr-3489	590	15	xlv	xlv	PROPN
fsr-3489	590	16	,	,	PUNCT
fsr-3489	590	17	and	and	CCONJ
fsr-3489	590	18	xly	xly	PROPN
fsr-3489	590	19	represent	represent	VERB
fsr-3489	590	20	the	the	DET
fsr-3489	590	21	select	select	ADJ
fsr-3489	590	22	sector	sector	NOUN
fsr-3489	590	23	spdr	spdr	PROPN
fsr-3489	590	24	etfs	etfs	PROPN
fsr-3489	590	25	for	for	ADP
fsr-3489	590	26	these	these	DET
fsr-3489	590	27	nine	nine	NUM
fsr-3489	590	28	sectors	sector	NOUN
fsr-3489	590	29	,	,	PUNCT
fsr-3489	590	30	respectively	respectively	ADV
fsr-3489	590	31	.	.	PUNCT
fsr-3489	591	1	spy	spy	NOUN
fsr-3489	591	2	represents	represent	VERB
fsr-3489	591	3	the	the	DET
fsr-3489	591	4	spdr	spdr	NOUN
fsr-3489	591	5	s&p	s&p	PROPN
fsr-3489	591	6	500	500	NUM
fsr-3489	591	7	trust	trust	NOUN
fsr-3489	591	8	.	.	PUNCT
fsr-3489	592	1	264	264	NUM
fsr-3489	592	2	c.y	c.y	PROPN
fsr-3489	592	3	.	.	PROPN
fsr-3489	592	4	lin	lin	PROPN
fsr-3489	592	5	/	/	SYM
fsr-3489	592	6	financial	financial	ADJ
fsr-3489	592	7	services	service	NOUN
fsr-3489	592	8	review	review	VERB
fsr-3489	592	9	23	23	NUM
fsr-3489	592	10	(	(	PUNCT
fsr-3489	592	11	2014	2014	NUM
fsr-3489	592	12	)	)	PUNCT
fsr-3489	593	1	249–271	249–271	NUM
fsr-3489	593	2	comparing	compare	VERB
fsr-3489	593	3	the	the	DET
fsr-3489	593	4	adjusted	adjusted	ADJ
fsr-3489	593	5	r2	r2	NOUN
fsr-3489	593	6	of	of	ADP
fsr-3489	593	7	one	one	NUM
fsr-3489	593	8	-	-	PUNCT
fsr-3489	593	9	factor	factor	NOUN
fsr-3489	593	10	model	model	NOUN
fsr-3489	593	11	with	with	ADP
fsr-3489	593	12	peer	peer	NOUN
fsr-3489	593	13	etf	etf	NOUN
fsr-3489	593	14	to	to	ADP
fsr-3489	593	15	that	that	PRON
fsr-3489	593	16	of	of	ADP
fsr-3489	593	17	one	one	NUM
fsr-3489	593	18	-	-	PUNCT
fsr-3489	593	19	factor	factor	NOUN
fsr-3489	593	20	model	model	NOUN
fsr-3489	593	21	with	with	ADP
fsr-3489	593	22	spy	spy	NOUN
fsr-3489	593	23	,	,	PUNCT
fsr-3489	593	24	i	i	PRON
fsr-3489	593	25	find	find	VERB
fsr-3489	593	26	that	that	SCONJ
fsr-3489	593	27	seven	seven	NUM
fsr-3489	593	28	out	out	ADP
fsr-3489	593	29	of	of	ADP
fsr-3489	593	30	nine	nine	NUM
fsr-3489	593	31	mf	mf	NOUN
fsr-3489	593	32	regressions	regression	NOUN
fsr-3489	593	33	using	use	VERB
fsr-3489	593	34	peer	peer	NOUN
fsr-3489	593	35	etf	etf	NOUN
fsr-3489	593	36	have	have	VERB
fsr-3489	593	37	a	a	DET
fsr-3489	593	38	higher	high	ADJ
fsr-3489	593	39	explanation	explanation	NOUN
fsr-3489	593	40	power	power	NOUN
fsr-3489	593	41	for	for	ADP
fsr-3489	593	42	the	the	DET
fsr-3489	593	43	full	full	ADJ
fsr-3489	593	44	and	and	CCONJ
fsr-3489	593	45	first	first	ADJ
fsr-3489	593	46	half	half	NOUN
fsr-3489	593	47	sample	sample	NOUN
fsr-3489	593	48	periods	period	NOUN
fsr-3489	593	49	with	with	ADP
fsr-3489	593	50	the	the	DET
fsr-3489	593	51	exceptions	exception	NOUN
fsr-3489	593	52	of	of	ADP
fsr-3489	593	53	the	the	DET
fsr-3489	593	54	utilities	utility	NOUN
fsr-3489	593	55	sector	sector	NOUN
fsr-3489	593	56	and	and	CCONJ
fsr-3489	593	57	the	the	DET
fsr-3489	593	58	healthcare	healthcare	NOUN
fsr-3489	593	59	sector	sector	NOUN
fsr-3489	593	60	.	.	PUNCT
fsr-3489	594	1	all	all	DET
fsr-3489	594	2	nine	nine	NUM
fsr-3489	594	3	mf	mf	NOUN
fsr-3489	594	4	regressions	regression	NOUN
fsr-3489	594	5	improve	improve	VERB
fsr-3489	594	6	their	their	PRON
fsr-3489	594	7	adjusted	adjust	VERB
fsr-3489	594	8	r2	r2	NOUN
fsr-3489	594	9	for	for	ADP
fsr-3489	594	10	the	the	DET
fsr-3489	594	11	second	second	ADJ
fsr-3489	594	12	half	half	NOUN
fsr-3489	594	13	sample	sample	NOUN
fsr-3489	594	14	period	period	NOUN
fsr-3489	594	15	using	use	VERB
fsr-3489	594	16	peer	peer	NOUN
fsr-3489	594	17	etf	etf	NOUN
fsr-3489	594	18	benchmark	benchmark	NOUN
fsr-3489	594	19	.	.	PUNCT
fsr-3489	595	1	unlike	unlike	ADP
fsr-3489	595	2	previous	previous	ADJ
fsr-3489	595	3	research	research	NOUN
fsr-3489	595	4	on	on	ADP
fsr-3489	595	5	sector	sector	NOUN
fsr-3489	595	6	mutual	mutual	ADJ
fsr-3489	595	7	fund	fund	NOUN
fsr-3489	595	8	performance	performance	NOUN
fsr-3489	595	9	,	,	PUNCT
fsr-3489	595	10	this	this	DET
fsr-3489	595	11	article	article	NOUN
fsr-3489	595	12	is	be	AUX
fsr-3489	595	13	one	one	NUM
fsr-3489	595	14	of	of	ADP
fsr-3489	595	15	the	the	DET
fsr-3489	595	16	first	first	ADJ
fsr-3489	595	17	that	that	PRON
fsr-3489	595	18	provides	provide	VERB
fsr-3489	595	19	detailed	detailed	ADJ
fsr-3489	595	20	analysis	analysis	NOUN
fsr-3489	595	21	on	on	ADP
fsr-3489	595	22	individual	individual	ADJ
fsr-3489	595	23	sector	sector	NOUN
fsr-3489	595	24	funds	fund	NOUN
fsr-3489	595	25	.	.	PUNCT
fsr-3489	596	1	zheng	zheng	PROPN
fsr-3489	596	2	and	and	CCONJ
fsr-3489	596	3	tower	tower	PROPN
fsr-3489	596	4	(	(	PUNCT
fsr-3489	596	5	2005	2005	NUM
fsr-3489	596	6	)	)	PUNCT
fsr-3489	596	7	,	,	PUNCT
fsr-3489	596	8	for	for	ADP
fsr-3489	596	9	example	example	NOUN
fsr-3489	596	10	,	,	PUNCT
fsr-3489	596	11	examine	examine	VERB
fsr-3489	596	12	performance	performance	NOUN
fsr-3489	596	13	of	of	ADP
fsr-3489	596	14	asset	asset	NOUN
fsr-3489	596	15	-	-	PUNCT
fsr-3489	596	16	weighted	weight	VERB
fsr-3489	596	17	and	and	CCONJ
fsr-3489	596	18	equal	equal	ADV
fsr-3489	596	19	-	-	PUNCT
fsr-3489	596	20	weighted	weight	VERB
fsr-3489	596	21	fidelity	fidelity	NOUN
fsr-3489	596	22	sector	sector	NOUN
fsr-3489	596	23	fund	fund	NOUN
fsr-3489	596	24	portfolios	portfolio	NOUN
fsr-3489	596	25	and	and	CCONJ
fsr-3489	596	26	find	find	VERB
fsr-3489	596	27	that	that	SCONJ
fsr-3489	596	28	they	they	PRON
fsr-3489	596	29	performed	perform	VERB
fsr-3489	596	30	less	less	ADV
fsr-3489	596	31	well	well	ADV
fsr-3489	596	32	than	than	ADP
fsr-3489	596	33	corresponding	correspond	VERB
fsr-3489	596	34	indexes	index	NOUN
fsr-3489	596	35	.	.	PUNCT
fsr-3489	597	1	dellva	dellva	PROPN
fsr-3489	597	2	,	,	PUNCT
fsr-3489	597	3	demaskey	demaskey	ADJ
fsr-3489	597	4	,	,	PUNCT
fsr-3489	597	5	and	and	CCONJ
fsr-3489	597	6	smith	smith	PROPN
fsr-3489	597	7	(	(	PUNCT
fsr-3489	597	8	2001	2001	NUM
fsr-3489	597	9	)	)	PUNCT
fsr-3489	597	10	only	only	ADV
fsr-3489	597	11	list	list	VERB
fsr-3489	597	12	number	number	NOUN
fsr-3489	597	13	of	of	ADP
fsr-3489	597	14	sector	sector	NOUN
fsr-3489	597	15	funds	fund	NOUN
fsr-3489	597	16	in	in	ADP
fsr-3489	597	17	their	their	PRON
fsr-3489	597	18	analysis	analysis	NOUN
fsr-3489	597	19	.	.	PUNCT
fsr-3489	598	1	kaushik	kaushik	PROPN
fsr-3489	598	2	,	,	PUNCT
fsr-3489	598	3	pennathur	pennathur	ADJ
fsr-3489	598	4	,	,	PUNCT
fsr-3489	598	5	and	and	CCONJ
fsr-3489	598	6	barnhart	barnhart	PROPN
fsr-3489	598	7	(	(	PUNCT
fsr-3489	598	8	2010	2010	NUM
fsr-3489	598	9	)	)	PUNCT
fsr-3489	598	10	report	report	NOUN
fsr-3489	598	11	sector	sector	NOUN
fsr-3489	598	12	aggregate	aggregate	NOUN
fsr-3489	598	13	performance	performance	NOUN
fsr-3489	598	14	results	result	NOUN
fsr-3489	598	15	.	.	PUNCT
fsr-3489	599	1	for	for	ADP
fsr-3489	599	2	individual	individual	ADJ
fsr-3489	599	3	investors	investor	NOUN
fsr-3489	599	4	and/or	and/or	CCONJ
fsr-3489	599	5	their	their	PRON
fsr-3489	599	6	financial	financial	ADJ
fsr-3489	599	7	planners	planner	NOUN
fsr-3489	599	8	,	,	PUNCT
fsr-3489	599	9	however	however	ADV
fsr-3489	599	10	,	,	PUNCT
fsr-3489	599	11	it	it	PRON
fsr-3489	599	12	is	be	AUX
fsr-3489	599	13	important	important	ADJ
fsr-3489	599	14	to	to	PART
fsr-3489	599	15	examine	examine	VERB
fsr-3489	599	16	individual	individual	ADJ
fsr-3489	599	17	sector	sector	NOUN
fsr-3489	599	18	fund	fund	NOUN
fsr-3489	599	19	performance	performance	NOUN
fsr-3489	599	20	and	and	CCONJ
fsr-3489	599	21	allocate	allocate	VERB
fsr-3489	599	22	their	their	PRON
fsr-3489	599	23	assets	asset	NOUN
fsr-3489	599	24	accordingly	accordingly	ADV
fsr-3489	599	25	.	.	PUNCT
fsr-3489	600	1	4.4	4.4	NUM
fsr-3489	600	2	.	.	PUNCT
fsr-3489	601	1	changing	change	VERB
fsr-3489	601	2	dynamic	dynamic	ADJ
fsr-3489	601	3	do	do	AUX
fsr-3489	601	4	mf	mf	NOUN
fsr-3489	601	5	and	and	CCONJ
fsr-3489	601	6	etf	etf	NOUN
fsr-3489	601	7	in	in	ADP
fsr-3489	601	8	the	the	DET
fsr-3489	601	9	same	same	ADJ
fsr-3489	601	10	sector	sector	NOUN
fsr-3489	601	11	move	move	VERB
fsr-3489	601	12	together	together	ADV
fsr-3489	601	13	?	?	PUNCT
fsr-3489	602	1	are	be	AUX
fsr-3489	602	2	they	they	PRON
fsr-3489	602	3	highly	highly	ADV
fsr-3489	602	4	correlated	correlate	VERB
fsr-3489	602	5	with	with	ADP
fsr-3489	602	6	the	the	DET
fsr-3489	602	7	general	general	ADJ
fsr-3489	602	8	market	market	NOUN
fsr-3489	602	9	index	index	NOUN
fsr-3489	602	10	?	?	PUNCT
fsr-3489	603	1	pairwise	pairwise	NOUN
fsr-3489	603	2	correlation	correlation	NOUN
fsr-3489	603	3	is	be	AUX
fsr-3489	603	4	charted	chart	VERB
fsr-3489	603	5	in	in	ADP
fsr-3489	603	6	fig	fig	NOUN
fsr-3489	603	7	.	.	PUNCT
fsr-3489	604	1	3	3	X
fsr-3489	604	2	.	.	X
fsr-3489	604	3	in	in	ADP
fsr-3489	604	4	all	all	DET
fsr-3489	604	5	but	but	CCONJ
fsr-3489	604	6	two	two	NUM
fsr-3489	604	7	cases	case	NOUN
fsr-3489	604	8	(	(	PUNCT
fsr-3489	604	9	utilities	utility	NOUN
fsr-3489	604	10	and	and	CCONJ
fsr-3489	604	11	healthcare	healthcare	PROPN
fsr-3489	604	12	)	)	PUNCT
fsr-3489	604	13	the	the	DET
fsr-3489	604	14	correlation	correlation	NOUN
fsr-3489	604	15	between	between	ADP
fsr-3489	604	16	mf	mf	NOUN
fsr-3489	604	17	and	and	CCONJ
fsr-3489	604	18	etf	etf	NOUN
fsr-3489	604	19	in	in	ADP
fsr-3489	604	20	the	the	DET
fsr-3489	604	21	same	same	ADJ
fsr-3489	604	22	sector	sector	NOUN
fsr-3489	604	23	,	,	PUNCT
fsr-3489	604	24	the	the	DET
fsr-3489	604	25	black	black	ADJ
fsr-3489	604	26	bar	bar	NOUN
fsr-3489	604	27	,	,	PUNCT
fsr-3489	604	28	is	be	AUX
fsr-3489	604	29	the	the	DET
fsr-3489	604	30	highest	high	ADJ
fsr-3489	604	31	compared	compare	VERB
fsr-3489	604	32	with	with	ADP
fsr-3489	604	33	the	the	DET
fsr-3489	604	34	correlation	correlation	NOUN
fsr-3489	604	35	between	between	ADP
fsr-3489	604	36	mf	mf	NOUN
fsr-3489	604	37	/	/	SYM
fsr-3489	604	38	etf	etf	NOUN
fsr-3489	604	39	and	and	CCONJ
fsr-3489	604	40	spy	spy	NOUN
fsr-3489	604	41	.	.	PUNCT
fsr-3489	605	1	six	six	NUM
fsr-3489	605	2	sectors	sector	NOUN
fsr-3489	605	3	have	have	VERB
fsr-3489	605	4	a	a	DET
fsr-3489	605	5	correlation	correlation	NOUN
fsr-3489	605	6	between	between	ADP
fsr-3489	605	7	mf	mf	NOUN
fsr-3489	605	8	and	and	CCONJ
fsr-3489	605	9	etf	etf	NOUN
fsr-3489	605	10	higher	high	ADJ
fsr-3489	605	11	than	than	ADP
fsr-3489	605	12	0.9	0.9	NUM
fsr-3489	605	13	(	(	PUNCT
fsr-3489	605	14	materials	material	NOUN
fsr-3489	605	15	,	,	PUNCT
fsr-3489	605	16	energy	energy	NOUN
fsr-3489	605	17	,	,	PUNCT
fsr-3489	605	18	financial	financial	ADJ
fsr-3489	605	19	,	,	PUNCT
fsr-3489	605	20	industrials	industrial	NOUN
fsr-3489	605	21	,	,	PUNCT
fsr-3489	605	22	technology	technology	NOUN
fsr-3489	605	23	,	,	PUNCT
fsr-3489	605	24	and	and	CCONJ
fsr-3489	605	25	consumer	consumer	NOUN
fsr-3489	605	26	discretionary	discretionary	NOUN
fsr-3489	605	27	)	)	PUNCT
fsr-3489	605	28	,	,	PUNCT
fsr-3489	605	29	whereas	whereas	SCONJ
fsr-3489	605	30	the	the	DET
fsr-3489	605	31	other	other	ADJ
fsr-3489	605	32	three	three	NUM
fsr-3489	605	33	sectors	sector	NOUN
fsr-3489	605	34	have	have	VERB
fsr-3489	605	35	a	a	DET
fsr-3489	605	36	correlation	correlation	NOUN
fsr-3489	605	37	of	of	ADP
fsr-3489	605	38	0.827	0.827	NUM
fsr-3489	605	39	(	(	PUNCT
fsr-3489	605	40	consumer	consumer	NOUN
fsr-3489	605	41	staples	staple	NOUN
fsr-3489	605	42	)	)	PUNCT
fsr-3489	605	43	,	,	PUNCT
fsr-3489	605	44	0.661	0.661	NUM
fsr-3489	605	45	(	(	PUNCT
fsr-3489	605	46	utilities	utility	NOUN
fsr-3489	605	47	)	)	PUNCT
fsr-3489	605	48	,	,	PUNCT
fsr-3489	605	49	and	and	CCONJ
fsr-3489	605	50	0.638	0.638	NUM
fsr-3489	605	51	(	(	PUNCT
fsr-3489	605	52	healthcare	healthcare	PROPN
fsr-3489	605	53	)	)	PUNCT
fsr-3489	605	54	.	.	PUNCT
fsr-3489	606	1	an	an	DET
fsr-3489	606	2	interesting	interesting	ADJ
fsr-3489	606	3	find	find	NOUN
fsr-3489	606	4	was	be	AUX
fsr-3489	606	5	that	that	SCONJ
fsr-3489	606	6	these	these	DET
fsr-3489	606	7	three	three	NUM
fsr-3489	606	8	sectors	sector	NOUN
fsr-3489	606	9	are	be	AUX
fsr-3489	606	10	often	often	ADV
fsr-3489	606	11	considered	consider	VERB
fsr-3489	606	12	defensive	defensive	ADJ
fsr-3489	606	13	sectors	sector	NOUN
fsr-3489	606	14	.	.	PUNCT
fsr-3489	607	1	common	common	ADJ
fsr-3489	607	2	factors	factor	NOUN
fsr-3489	607	3	in	in	ADP
fsr-3489	607	4	one	one	NUM
fsr-3489	607	5	sector	sector	NOUN
fsr-3489	607	6	appear	appear	VERB
fsr-3489	607	7	to	to	PART
fsr-3489	607	8	affect	affect	VERB
fsr-3489	607	9	the	the	DET
fsr-3489	607	10	returns	return	NOUN
fsr-3489	607	11	of	of	ADP
fsr-3489	607	12	the	the	DET
fsr-3489	607	13	mf	mf	NOUN
fsr-3489	607	14	and	and	CCONJ
fsr-3489	607	15	etf	etf	NOUN
fsr-3489	607	16	in	in	ADP
fsr-3489	607	17	this	this	DET
fsr-3489	607	18	sector	sector	NOUN
fsr-3489	607	19	more	more	ADJ
fsr-3489	607	20	than	than	ADP
fsr-3489	607	21	that	that	PRON
fsr-3489	607	22	of	of	ADP
fsr-3489	607	23	general	general	ADJ
fsr-3489	607	24	factors	factor	NOUN
fsr-3489	607	25	affecting	affect	VERB
fsr-3489	607	26	the	the	DET
fsr-3489	607	27	overall	overall	ADJ
fsr-3489	607	28	equity	equity	NOUN
fsr-3489	607	29	market	market	NOUN
fsr-3489	607	30	.	.	PUNCT
fsr-3489	608	1	the	the	DET
fsr-3489	608	2	returns	return	NOUN
fsr-3489	608	3	of	of	ADP
fsr-3489	608	4	mfs	mfs	NOUN
fsr-3489	608	5	and	and	CCONJ
fsr-3489	608	6	etfs	etfs	NOUN
fsr-3489	608	7	in	in	ADP
fsr-3489	608	8	the	the	DET
fsr-3489	608	9	same	same	ADJ
fsr-3489	608	10	sector	sector	NOUN
fsr-3489	608	11	tend	tend	VERB
fsr-3489	608	12	to	to	PART
fsr-3489	608	13	go	go	VERB
fsr-3489	608	14	hand	hand	NOUN
fsr-3489	608	15	-	-	PUNCT
fsr-3489	608	16	in	in	ADP
fsr-3489	608	17	-	-	PUNCT
fsr-3489	608	18	hand	hand	NOUN
fsr-3489	608	19	.	.	PUNCT
fsr-3489	609	1	the	the	DET
fsr-3489	609	2	regression	regression	NOUN
fsr-3489	609	3	results	result	NOUN
fsr-3489	609	4	during	during	ADP
fsr-3489	609	5	different	different	ADJ
fsr-3489	609	6	sample	sample	NOUN
fsr-3489	609	7	periods	period	NOUN
fsr-3489	609	8	discussed	discuss	VERB
fsr-3489	609	9	earlier	early	ADV
fsr-3489	609	10	,	,	PUNCT
fsr-3489	609	11	however	however	ADV
fsr-3489	609	12	,	,	PUNCT
fsr-3489	609	13	hint	hint	VERB
fsr-3489	609	14	that	that	SCONJ
fsr-3489	609	15	0.00	0.00	NUM
fsr-3489	609	16	0.10	0.10	NUM
fsr-3489	609	17	0.20	0.20	NUM
fsr-3489	609	18	0.30	0.30	NUM
fsr-3489	609	19	0.40	0.40	NUM
fsr-3489	609	20	0.50	0.50	NUM
fsr-3489	609	21	0.60	0.60	NUM
fsr-3489	609	22	0.70	0.70	NUM
fsr-3489	609	23	0.80	0.80	NUM
fsr-3489	609	24	0.90	0.90	NUM
fsr-3489	609	25	1.00	1.00	NUM
fsr-3489	609	26	b	b	NOUN
fsr-3489	609	27	e	e	X
fsr-3489	609	28	f	f	NOUN
fsr-3489	610	1	i	i	PRON
fsr-3489	610	2	k	k	PROPN
fsr-3489	611	1	p	p	X
fsr-3489	611	2	u	u	X
fsr-3489	611	3	v	v	ADP
fsr-3489	611	4	y	y	PROPN
fsr-3489	611	5	mf	mf	X
fsr-3489	611	6	vs.	vs.	ADP
fsr-3489	611	7	etf	etf	NOUN
fsr-3489	611	8	mf	mf	X
fsr-3489	611	9	vs.	vs.	X
fsr-3489	611	10	spy	spy	NOUN
fsr-3489	611	11	etf	etf	NOUN
fsr-3489	611	12	vs.	vs.	ADP
fsr-3489	611	13	spy	spy	NOUN
fsr-3489	611	14	fig	fig	NOUN
fsr-3489	611	15	.	.	PUNCT
fsr-3489	612	1	3	3	X
fsr-3489	612	2	.	.	X
fsr-3489	612	3	monthly	monthly	ADJ
fsr-3489	612	4	return	return	NOUN
fsr-3489	612	5	correlation	correlation	NOUN
fsr-3489	612	6	between	between	ADP
fsr-3489	612	7	funds	fund	NOUN
fsr-3489	612	8	,	,	PUNCT
fsr-3489	612	9	1999–2010	1999–2010	NUM
fsr-3489	612	10	.	.	PUNCT
fsr-3489	613	1	b	b	PROPN
fsr-3489	613	2	represents	represent	VERB
fsr-3489	613	3	the	the	DET
fsr-3489	613	4	materials	material	NOUN
fsr-3489	613	5	sector	sector	NOUN
fsr-3489	613	6	;	;	PUNCT
fsr-3489	613	7	e	e	PRON
fsr-3489	613	8	represents	represent	VERB
fsr-3489	613	9	the	the	DET
fsr-3489	613	10	energy	energy	NOUN
fsr-3489	613	11	sector	sector	NOUN
fsr-3489	613	12	;	;	PUNCT
fsr-3489	613	13	f	f	PROPN
fsr-3489	613	14	represents	represent	VERB
fsr-3489	613	15	the	the	DET
fsr-3489	613	16	financial	financial	ADJ
fsr-3489	613	17	sector	sector	NOUN
fsr-3489	613	18	;	;	PUNCT
fsr-3489	613	19	i	i	PRON
fsr-3489	613	20	represents	represent	VERB
fsr-3489	613	21	the	the	DET
fsr-3489	613	22	industrials	industrial	NOUN
fsr-3489	613	23	sector	sector	NOUN
fsr-3489	613	24	;	;	PUNCT
fsr-3489	613	25	k	k	X
fsr-3489	613	26	represents	represent	VERB
fsr-3489	613	27	the	the	DET
fsr-3489	613	28	technology	technology	NOUN
fsr-3489	613	29	sector	sector	NOUN
fsr-3489	613	30	;	;	PUNCT
fsr-3489	613	31	p	p	NOUN
fsr-3489	613	32	represents	represent	VERB
fsr-3489	613	33	the	the	DET
fsr-3489	613	34	consumer	consumer	NOUN
fsr-3489	613	35	staples	staple	NOUN
fsr-3489	613	36	sector	sector	NOUN
fsr-3489	613	37	;	;	PUNCT
fsr-3489	613	38	u	u	PRON
fsr-3489	613	39	represents	represent	VERB
fsr-3489	613	40	the	the	DET
fsr-3489	613	41	utilities	utility	NOUN
fsr-3489	613	42	sector	sector	NOUN
fsr-3489	613	43	;	;	PUNCT
fsr-3489	613	44	v	v	X
fsr-3489	613	45	represents	represent	VERB
fsr-3489	613	46	the	the	DET
fsr-3489	613	47	healthcare	healthcare	NOUN
fsr-3489	613	48	sector	sector	NOUN
fsr-3489	613	49	;	;	PUNCT
fsr-3489	613	50	y	y	PRON
fsr-3489	613	51	represents	represent	VERB
fsr-3489	613	52	the	the	DET
fsr-3489	613	53	consumer	consumer	NOUN
fsr-3489	613	54	discretionary	discretionary	ADJ
fsr-3489	613	55	sector	sector	NOUN
fsr-3489	613	56	;	;	PUNCT
fsr-3489	613	57	and	and	CCONJ
fsr-3489	613	58	spy	spy	NOUN
fsr-3489	613	59	represents	represent	VERB
fsr-3489	613	60	the	the	DET
fsr-3489	613	61	spdr	spdr	NOUN
fsr-3489	613	62	s&p	s&p	PROPN
fsr-3489	613	63	500	500	NUM
fsr-3489	613	64	trust	trust	NOUN
fsr-3489	613	65	.	.	PUNCT
fsr-3489	614	1	265c.y	265c.y	X
fsr-3489	614	2	.	.	PUNCT
fsr-3489	615	1	lin	lin	PROPN
fsr-3489	615	2	/	/	SYM
fsr-3489	615	3	financial	financial	ADJ
fsr-3489	615	4	services	service	NOUN
fsr-3489	615	5	review	review	VERB
fsr-3489	615	6	23	23	NUM
fsr-3489	615	7	(	(	PUNCT
fsr-3489	615	8	2014	2014	NUM
fsr-3489	615	9	)	)	PUNCT
fsr-3489	616	1	249–271	249–271	NUM
fsr-3489	616	2	the	the	DET
fsr-3489	616	3	correlation	correlation	NOUN
fsr-3489	616	4	might	might	AUX
fsr-3489	616	5	not	not	PART
fsr-3489	616	6	be	be	AUX
fsr-3489	616	7	stable	stable	ADJ
fsr-3489	616	8	throughout	throughout	ADP
fsr-3489	616	9	the	the	DET
fsr-3489	616	10	whole	whole	ADJ
fsr-3489	616	11	sample	sample	NOUN
fsr-3489	616	12	period	period	NOUN
fsr-3489	616	13	.	.	PUNCT
fsr-3489	617	1	fig	fig	NOUN
fsr-3489	617	2	.	.	PUNCT
fsr-3489	618	1	4	4	NUM
fsr-3489	618	2	plots	plot	NOUN
fsr-3489	618	3	36	36	NUM
fsr-3489	618	4	-	-	PUNCT
fsr-3489	618	5	month	month	NOUN
fsr-3489	618	6	rolling	rolling	NOUN
fsr-3489	618	7	correlation	correlation	NOUN
fsr-3489	618	8	for	for	ADP
fsr-3489	618	9	the	the	DET
fsr-3489	618	10	nine	nine	NUM
fsr-3489	618	11	sectors	sector	NOUN
fsr-3489	618	12	.	.	PUNCT
fsr-3489	619	1	consistent	consistent	ADJ
fsr-3489	619	2	with	with	ADP
fsr-3489	619	3	the	the	DET
fsr-3489	619	4	results	result	NOUN
fsr-3489	619	5	in	in	ADP
fsr-3489	619	6	fig	fig	NOUN
fsr-3489	619	7	.	.	PUNCT
fsr-3489	620	1	3	3	NUM
fsr-3489	620	2	,	,	PUNCT
fsr-3489	620	3	for	for	ADP
fsr-3489	620	4	most	most	ADJ
fsr-3489	620	5	of	of	ADP
fsr-3489	620	6	the	the	DET
fsr-3489	620	7	sample	sample	NOUN
fsr-3489	620	8	period	period	NOUN
fsr-3489	620	9	,	,	PUNCT
fsr-3489	620	10	in	in	ADP
fsr-3489	620	11	all	all	PRON
fsr-3489	620	12	but	but	SCONJ
fsr-3489	620	13	two	two	NUM
fsr-3489	620	14	sectors	sector	NOUN
fsr-3489	620	15	(	(	PUNCT
fsr-3489	620	16	utilities	utility	NOUN
fsr-3489	620	17	and	and	CCONJ
fsr-3489	620	18	healthcare	healthcare	PROPN
fsr-3489	620	19	)	)	PUNCT
fsr-3489	620	20	,	,	PUNCT
fsr-3489	620	21	the	the	DET
fsr-3489	620	22	correlation	correlation	NOUN
fsr-3489	620	23	between	between	ADP
fsr-3489	620	24	mf	mf	NOUN
fsr-3489	620	25	and	and	CCONJ
fsr-3489	620	26	etf	etf	NOUN
fsr-3489	620	27	in	in	ADP
fsr-3489	620	28	the	the	DET
fsr-3489	620	29	same	same	ADJ
fsr-3489	620	30	sector	sector	NOUN
fsr-3489	620	31	,	,	PUNCT
fsr-3489	620	32	the	the	DET
fsr-3489	620	33	black	black	ADJ
fsr-3489	620	34	line	line	NOUN
fsr-3489	620	35	,	,	PUNCT
fsr-3489	620	36	is	be	AUX
fsr-3489	620	37	the	the	DET
fsr-3489	620	38	highest	high	ADJ
fsr-3489	620	39	compared	compare	VERB
fsr-3489	620	40	with	with	ADP
fsr-3489	620	41	the	the	DET
fsr-3489	620	42	correlation	correlation	NOUN
fsr-3489	620	43	between	between	ADP
fsr-3489	620	44	mf	mf	NOUN
fsr-3489	620	45	/	/	SYM
fsr-3489	620	46	etf	etf	NOUN
fsr-3489	620	47	and	and	CCONJ
fsr-3489	620	48	spy	spy	NOUN
fsr-3489	620	49	.	.	PUNCT
fsr-3489	621	1	the	the	DET
fsr-3489	621	2	industrial	industrial	ADJ
fsr-3489	621	3	sector	sector	NOUN
fsr-3489	621	4	,	,	PUNCT
fsr-3489	621	5	the	the	DET
fsr-3489	621	6	technology	technology	NOUN
fsr-3489	621	7	sector	sector	NOUN
fsr-3489	621	8	,	,	PUNCT
fsr-3489	621	9	and	and	CCONJ
fsr-3489	621	10	the	the	DET
fsr-3489	621	11	consumer	consumer	NOUN
fsr-3489	621	12	discretionary	discretionary	ADJ
fsr-3489	621	13	sector	sector	NOUN
fsr-3489	621	14	have	have	VERB
fsr-3489	621	15	the	the	DET
fsr-3489	621	16	most	most	ADV
fsr-3489	621	17	consistent	consistent	ADJ
fsr-3489	621	18	correlation	correlation	NOUN
fsr-3489	621	19	among	among	ADP
fsr-3489	621	20	three	three	NUM
fsr-3489	621	21	pairs	pair	NOUN
fsr-3489	621	22	of	of	ADP
fsr-3489	621	23	correlation	correlation	NOUN
fsr-3489	621	24	plotted	plot	VERB
fsr-3489	621	25	,	,	PUNCT
fsr-3489	621	26	mf	mf	X
fsr-3489	621	27	versus	versus	ADP
fsr-3489	621	28	etf	etf	NOUN
fsr-3489	621	29	,	,	PUNCT
fsr-3489	621	30	mf	mf	X
fsr-3489	621	31	versus	versus	ADP
fsr-3489	621	32	spy	spy	NOUN
fsr-3489	621	33	,	,	PUNCT
fsr-3489	621	34	and	and	CCONJ
fsr-3489	621	35	etf	etf	NOUN
fsr-3489	621	36	versus	versus	ADP
fsr-3489	621	37	spy	spy	NOUN
fsr-3489	621	38	.	.	PUNCT
fsr-3489	622	1	the	the	DET
fsr-3489	622	2	three	three	NUM
fsr-3489	622	3	lines	line	NOUN
fsr-3489	622	4	are	be	AUX
fsr-3489	622	5	close	close	ADJ
fsr-3489	622	6	to	to	ADP
fsr-3489	622	7	each	each	DET
fsr-3489	622	8	other	other	ADJ
fsr-3489	622	9	with	with	ADP
fsr-3489	622	10	the	the	DET
fsr-3489	622	11	black	black	ADJ
fsr-3489	622	12	one	one	NOUN
fsr-3489	622	13	on	on	ADP
fsr-3489	622	14	the	the	DET
fsr-3489	622	15	top	top	NOUN
fsr-3489	622	16	.	.	PUNCT
fsr-3489	623	1	however	however	ADV
fsr-3489	623	2	,	,	PUNCT
fsr-3489	623	3	the	the	DET
fsr-3489	623	4	utilities	utility	NOUN
fsr-3489	623	5	sector	sector	NOUN
fsr-3489	623	6	and	and	CCONJ
fsr-3489	623	7	the	the	DET
fsr-3489	623	8	healthcare	healthcare	NOUN
fsr-3489	623	9	sector	sector	NOUN
fsr-3489	623	10	show	show	VERB
fsr-3489	623	11	great	great	ADJ
fsr-3489	623	12	time	time	NOUN
fsr-3489	623	13	varying	vary	VERB
fsr-3489	623	14	correlation	correlation	NOUN
fsr-3489	623	15	.	.	PUNCT
fsr-3489	624	1	the	the	DET
fsr-3489	624	2	lines	line	NOUN
fsr-3489	624	3	cross	cross	VERB
fsr-3489	624	4	each	each	DET
fsr-3489	624	5	other	other	ADJ
fsr-3489	624	6	and	and	CCONJ
fsr-3489	624	7	the	the	DET
fsr-3489	624	8	spread	spread	NOUN
fsr-3489	624	9	is	be	AUX
fsr-3489	624	10	huge	huge	ADJ
fsr-3489	624	11	.	.	PUNCT
fsr-3489	625	1	for	for	ADP
fsr-3489	625	2	example	example	NOUN
fsr-3489	625	3	,	,	PUNCT
fsr-3489	625	4	for	for	ADP
fsr-3489	625	5	the	the	DET
fsr-3489	625	6	healthcare	healthcare	NOUN
fsr-3489	625	7	sector	sector	NOUN
fsr-3489	625	8	,	,	PUNCT
fsr-3489	625	9	the	the	DET
fsr-3489	625	10	correlation	correlation	NOUN
fsr-3489	625	11	between	between	ADP
fsr-3489	625	12	the	the	DET
fsr-3489	625	13	etf	etf	NOUN
fsr-3489	625	14	and	and	CCONJ
fsr-3489	625	15	spy	spy	NOUN
fsr-3489	625	16	was	be	AUX
fsr-3489	625	17	the	the	DET
fsr-3489	625	18	highest	high	ADJ
fsr-3489	625	19	(	(	PUNCT
fsr-3489	625	20	0.864	0.864	NUM
fsr-3489	625	21	vs.	vs.	ADP
fsr-3489	625	22	0.127	0.127	NUM
fsr-3489	625	23	and	and	CCONJ
fsr-3489	625	24	0.189	0.189	NUM
fsr-3489	625	25	)	)	PUNCT
fsr-3489	625	26	for	for	ADP
fsr-3489	625	27	the	the	DET
fsr-3489	625	28	first	first	ADJ
fsr-3489	625	29	36	36	NUM
fsr-3489	625	30	months	month	NOUN
fsr-3489	625	31	,	,	PUNCT
fsr-3489	625	32	january	january	PROPN
fsr-3489	625	33	1999	1999	NUM
fsr-3489	625	34	through	through	ADP
fsr-3489	625	35	december	december	PROPN
fsr-3489	625	36	2001	2001	NUM
fsr-3489	625	37	,	,	PUNCT
fsr-3489	625	38	but	but	CCONJ
fsr-3489	625	39	it	it	PRON
fsr-3489	625	40	turns	turn	VERB
fsr-3489	625	41	out	out	ADP
fsr-3489	625	42	to	to	PART
fsr-3489	625	43	be	be	AUX
fsr-3489	625	44	the	the	DET
fsr-3489	625	45	lowest	low	ADJ
fsr-3489	625	46	(	(	PUNCT
fsr-3489	625	47	0.817	0.817	NUM
fsr-3489	625	48	vs.	vs.	ADP
fsr-3489	625	49	0.931	0.931	NUM
fsr-3489	625	50	and	and	CCONJ
fsr-3489	625	51	0.869	0.869	NUM
fsr-3489	625	52	)	)	PUNCT
fsr-3489	625	53	for	for	ADP
fsr-3489	625	54	the	the	DET
fsr-3489	625	55	last	last	ADJ
fsr-3489	625	56	36	36	NUM
fsr-3489	625	57	months	month	NOUN
fsr-3489	625	58	,	,	PUNCT
fsr-3489	625	59	january	january	PROPN
fsr-3489	625	60	2008	2008	NUM
fsr-3489	625	61	through	through	ADP
fsr-3489	625	62	december	december	PROPN
fsr-3489	625	63	2010	2010	NUM
fsr-3489	625	64	.	.	PUNCT
fsr-3489	626	1	a	a	DET
fsr-3489	626	2	noticeable	noticeable	ADJ
fsr-3489	626	3	phenomenon	phenomenon	NOUN
fsr-3489	626	4	is	be	AUX
fsr-3489	626	5	that	that	SCONJ
fsr-3489	626	6	the	the	DET
fsr-3489	626	7	correlations	correlation	NOUN
fsr-3489	626	8	tend	tend	VERB
fsr-3489	626	9	to	to	PART
fsr-3489	626	10	converge	converge	VERB
fsr-3489	626	11	overtime	overtime	NOUN
fsr-3489	626	12	.	.	PUNCT
fsr-3489	627	1	almost	almost	ADV
fsr-3489	627	2	all	all	DET
fsr-3489	627	3	sectors	sector	NOUN
fsr-3489	627	4	have	have	VERB
fsr-3489	627	5	tighter	tight	ADJ
fsr-3489	627	6	correlation	correlation	NOUN
fsr-3489	627	7	spreads	spread	NOUN
fsr-3489	627	8	moving	move	VERB
fsr-3489	627	9	into	into	ADP
fsr-3489	627	10	the	the	DET
fsr-3489	627	11	end	end	NOUN
fsr-3489	627	12	of	of	ADP
fsr-3489	627	13	the	the	DET
fsr-3489	627	14	sample	sample	NOUN
fsr-3489	627	15	period	period	NOUN
fsr-3489	627	16	.	.	PUNCT
fsr-3489	628	1	the	the	DET
fsr-3489	628	2	correlation	correlation	NOUN
fsr-3489	628	3	between	between	ADP
fsr-3489	628	4	the	the	DET
fsr-3489	628	5	mf	mf	NOUN
fsr-3489	628	6	/	/	SYM
fsr-3489	628	7	etf	etf	NOUN
fsr-3489	628	8	and	and	CCONJ
fsr-3489	628	9	spy	spy	NOUN
fsr-3489	628	10	,	,	PUNCT
fsr-3489	628	11	the	the	DET
fsr-3489	628	12	gray	gray	ADJ
fsr-3489	628	13	dashed	dash	VERB
fsr-3489	628	14	line	line	NOUN
fsr-3489	628	15	and	and	CCONJ
fsr-3489	628	16	the	the	DET
fsr-3489	628	17	black	black	ADJ
fsr-3489	628	18	dotted	dotted	ADJ
fsr-3489	628	19	line	line	NOUN
fsr-3489	628	20	,	,	PUNCT
fsr-3489	628	21	almost	almost	ADV
fsr-3489	628	22	overlap	overlap	VERB
fsr-3489	628	23	for	for	ADP
fsr-3489	628	24	most	most	ADJ
fsr-3489	628	25	of	of	ADP
fsr-3489	628	26	the	the	DET
fsr-3489	628	27	sectors	sector	NOUN
fsr-3489	628	28	during	during	ADP
fsr-3489	628	29	the	the	DET
fsr-3489	628	30	last	last	ADJ
fsr-3489	628	31	quarter	quarter	NOUN
fsr-3489	628	32	of	of	ADP
fsr-3489	628	33	the	the	DET
fsr-3489	628	34	chart	chart	NOUN
fsr-3489	628	35	period	period	NOUN
fsr-3489	628	36	.	.	PUNCT
fsr-3489	629	1	this	this	DET
fsr-3489	629	2	changing	change	VERB
fsr-3489	629	3	dynamic	dynamic	NOUN
fsr-3489	629	4	explains	explain	VERB
fsr-3489	629	5	why	why	SCONJ
fsr-3489	629	6	regression	regression	NOUN
fsr-3489	629	7	based	base	VERB
fsr-3489	629	8	results	result	NOUN
fsr-3489	629	9	are	be	AUX
fsr-3489	629	10	sensitive	sensitive	ADJ
fsr-3489	629	11	to	to	ADP
fsr-3489	629	12	sample	sample	NOUN
fsr-3489	629	13	period	period	NOUN
fsr-3489	629	14	selection	selection	NOUN
fsr-3489	629	15	.	.	PUNCT
fsr-3489	630	1	the	the	DET
fsr-3489	630	2	open	open	ADJ
fsr-3489	630	3	question	question	NOUN
fsr-3489	630	4	is	be	AUX
fsr-3489	630	5	whether	whether	SCONJ
fsr-3489	630	6	the	the	DET
fsr-3489	630	7	correlation	correlation	NOUN
fsr-3489	630	8	convergence	convergence	NOUN
fsr-3489	630	9	will	will	AUX
fsr-3489	630	10	continue	continue	VERB
fsr-3489	630	11	into	into	ADP
fsr-3489	630	12	the	the	DET
fsr-3489	630	13	future	future	NOUN
fsr-3489	630	14	.	.	PUNCT
fsr-3489	631	1	if	if	SCONJ
fsr-3489	631	2	yes	yes	INTJ
fsr-3489	631	3	,	,	PUNCT
fsr-3489	631	4	the	the	DET
fsr-3489	631	5	diversification	diversification	NOUN
fsr-3489	631	6	benefit	benefit	NOUN
fsr-3489	631	7	one	one	NUM
fsr-3489	631	8	can	can	AUX
fsr-3489	631	9	enjoy	enjoy	VERB
fsr-3489	631	10	through	through	ADP
fsr-3489	631	11	sector	sector	NOUN
fsr-3489	631	12	investing	investing	NOUN
fsr-3489	631	13	may	may	AUX
fsr-3489	631	14	diminish	diminish	VERB
fsr-3489	631	15	overtime	overtime	NOUN
fsr-3489	631	16	.	.	PUNCT
fsr-3489	632	1	5	5	X
fsr-3489	632	2	.	.	X
fsr-3489	632	3	discussion	discussion	NOUN
fsr-3489	632	4	5.1	5.1	NUM
fsr-3489	632	5	.	.	PUNCT
fsr-3489	633	1	benchmarking	benchmarke	VERB
fsr-3489	633	2	the	the	DET
fsr-3489	633	3	fidelity	fidelity	NOUN
fsr-3489	633	4	select	select	ADJ
fsr-3489	633	5	portfolios	portfolio	NOUN
fsr-3489	633	6	cited	cite	VERB
fsr-3489	633	7	both	both	CCONJ
fsr-3489	633	8	the	the	DET
fsr-3489	633	9	s&p	s&p	PROPN
fsr-3489	633	10	500	500	NUM
fsr-3489	633	11	and	and	CCONJ
fsr-3489	633	12	a	a	DET
fsr-3489	633	13	msci	msci	PROPN
fsr-3489	633	14	u.s	u.s	PROPN
fsr-3489	633	15	.	.	PROPN
fsr-3489	634	1	i	i	PROPN
fsr-3489	634	2	m	m	VERB
fsr-3489	634	3	sector	sector	NOUN
fsr-3489	634	4	25/50	25/50	NUM
fsr-3489	634	5	index	index	NOUN
fsr-3489	634	6	in	in	ADP
fsr-3489	634	7	the	the	DET
fsr-3489	634	8	“	"	PUNCT
fsr-3489	634	9	management	management	NOUN
fsr-3489	634	10	’s	’s	PART
fsr-3489	634	11	discussion	discussion	NOUN
fsr-3489	634	12	of	of	ADP
fsr-3489	634	13	fund	fund	NOUN
fsr-3489	634	14	performance	performance	NOUN
fsr-3489	634	15	”	"	PUNCT
fsr-3489	634	16	section	section	NOUN
fsr-3489	634	17	of	of	ADP
fsr-3489	634	18	the	the	DET
fsr-3489	634	19	annual	annual	ADJ
fsr-3489	634	20	reports	report	NOUN
fsr-3489	634	21	.	.	PUNCT
fsr-3489	635	1	however	however	ADV
fsr-3489	635	2	,	,	PUNCT
fsr-3489	635	3	the	the	DET
fsr-3489	635	4	earliest	early	ADJ
fsr-3489	635	5	etfs	etfs	NOUN
fsr-3489	635	6	based	base	VERB
fsr-3489	635	7	on	on	ADP
fsr-3489	635	8	the	the	DET
fsr-3489	635	9	msci	msci	PROPN
fsr-3489	635	10	u.s	u.s	PROPN
fsr-3489	635	11	.	.	PROPN
fsr-3489	635	12	i	i	PROPN
fsr-3489	635	13	m	m	VERB
fsr-3489	635	14	sector	sector	NOUN
fsr-3489	635	15	25/50	25/50	NUM
fsr-3489	635	16	indexes	index	NOUN
fsr-3489	635	17	were	be	AUX
fsr-3489	635	18	launched	launch	VERB
fsr-3489	635	19	in	in	ADP
fsr-3489	635	20	january	january	PROPN
fsr-3489	635	21	2004	2004	NUM
fsr-3489	635	22	by	by	ADP
fsr-3489	635	23	vanguard	vanguard	PROPN
fsr-3489	635	24	,	,	PUNCT
fsr-3489	635	25	which	which	PRON
fsr-3489	635	26	is	be	AUX
fsr-3489	635	27	five	five	NUM
fsr-3489	635	28	years	year	NOUN
fsr-3489	635	29	later	later	ADV
fsr-3489	635	30	than	than	ADP
fsr-3489	635	31	the	the	DET
fsr-3489	635	32	select	select	ADJ
fsr-3489	635	33	sector	sector	NOUN
fsr-3489	635	34	spdr	spdr	NOUN
fsr-3489	635	35	funds	fund	NOUN
fsr-3489	635	36	.	.	PUNCT
fsr-3489	636	1	the	the	DET
fsr-3489	636	2	price	price	NOUN
fsr-3489	636	3	correlation	correlation	NOUN
fsr-3489	636	4	between	between	ADP
fsr-3489	636	5	these	these	DET
fsr-3489	636	6	two	two	NUM
fsr-3489	636	7	etfs	etfs	NOUN
fsr-3489	636	8	in	in	ADP
fsr-3489	636	9	the	the	DET
fsr-3489	636	10	same	same	ADJ
fsr-3489	636	11	sector	sector	NOUN
fsr-3489	636	12	ranges	range	VERB
fsr-3489	636	13	from	from	ADP
fsr-3489	636	14	0.975	0.975	NUM
fsr-3489	636	15	to	to	ADP
fsr-3489	636	16	0.999	0.999	NUM
fsr-3489	636	17	,	,	PUNCT
fsr-3489	636	18	with	with	ADP
fsr-3489	636	19	seven	seven	NUM
fsr-3489	636	20	out	out	ADP
fsr-3489	636	21	of	of	ADP
fsr-3489	636	22	nine	nine	NUM
fsr-3489	636	23	above	above	ADP
fsr-3489	636	24	0.99	0.99	NUM
fsr-3489	636	25	,	,	PUNCT
fsr-3489	636	26	for	for	ADP
fsr-3489	636	27	the	the	DET
fsr-3489	636	28	period	period	NOUN
fsr-3489	636	29	from	from	ADP
fsr-3489	636	30	2004	2004	NUM
fsr-3489	636	31	through	through	ADP
fsr-3489	636	32	2010	2010	NUM
fsr-3489	636	33	.	.	PUNCT
fsr-3489	637	1	this	this	DET
fsr-3489	637	2	high	high	ADJ
fsr-3489	637	3	correlation	correlation	NOUN
fsr-3489	637	4	justifies	justify	VERB
fsr-3489	637	5	the	the	DET
fsr-3489	637	6	use	use	NOUN
fsr-3489	637	7	of	of	ADP
fsr-3489	637	8	the	the	DET
fsr-3489	637	9	select	select	ADJ
fsr-3489	637	10	sector	sector	NOUN
fsr-3489	637	11	spdr	spdr	NOUN
fsr-3489	637	12	funds	fund	NOUN
fsr-3489	637	13	as	as	ADP
fsr-3489	637	14	benchmarks	benchmark	NOUN
fsr-3489	637	15	for	for	ADP
fsr-3489	637	16	performance	performance	NOUN
fsr-3489	637	17	evaluation	evaluation	NOUN
fsr-3489	637	18	.	.	PUNCT
fsr-3489	638	1	one	one	NUM
fsr-3489	638	2	obvious	obvious	ADJ
fsr-3489	638	3	explanation	explanation	NOUN
fsr-3489	638	4	of	of	ADP
fsr-3489	638	5	the	the	DET
fsr-3489	638	6	results	result	NOUN
fsr-3489	638	7	that	that	PRON
fsr-3489	638	8	sector	sector	NOUN
fsr-3489	638	9	mfs	mfs	VERB
fsr-3489	638	10	outperform	outperform	ADJ
fsr-3489	638	11	their	their	PRON
fsr-3489	638	12	peer	peer	NOUN
fsr-3489	638	13	etfs	etfs	NOUN
fsr-3489	638	14	somehow	somehow	ADV
fsr-3489	638	15	is	be	AUX
fsr-3489	638	16	that	that	SCONJ
fsr-3489	638	17	these	these	DET
fsr-3489	638	18	actively	actively	ADV
fsr-3489	638	19	managed	manage	VERB
fsr-3489	638	20	mutual	mutual	ADJ
fsr-3489	638	21	funds	fund	NOUN
fsr-3489	638	22	can	can	AUX
fsr-3489	638	23	invest	invest	VERB
fsr-3489	638	24	outside	outside	ADP
fsr-3489	638	25	of	of	ADP
fsr-3489	638	26	the	the	DET
fsr-3489	638	27	s&p	s&p	PROPN
fsr-3489	638	28	500	500	NUM
fsr-3489	638	29	basket	basket	NOUN
fsr-3489	638	30	.	.	PUNCT
fsr-3489	639	1	they	they	PRON
fsr-3489	639	2	can	can	AUX
fsr-3489	639	3	invest	invest	VERB
fsr-3489	639	4	in	in	ADP
fsr-3489	639	5	foreign	foreign	ADJ
fsr-3489	639	6	issuers	issuer	NOUN
fsr-3489	639	7	as	as	ADP
fsr-3489	639	8	the	the	DET
fsr-3489	639	9	prospectuses	prospectus	NOUN
fsr-3489	639	10	of	of	ADP
fsr-3489	639	11	the	the	DET
fsr-3489	639	12	fidelity	fidelity	NOUN
fsr-3489	639	13	select	select	ADJ
fsr-3489	639	14	portfolios	portfolio	NOUN
fsr-3489	639	15	state	state	NOUN
fsr-3489	639	16	.	.	PUNCT
fsr-3489	640	1	domestically	domestically	ADV
fsr-3489	640	2	they	they	PRON
fsr-3489	640	3	can	can	AUX
fsr-3489	640	4	invest	invest	VERB
fsr-3489	640	5	in	in	ADP
fsr-3489	640	6	any	any	DET
fsr-3489	640	7	stock	stock	NOUN
fsr-3489	640	8	that	that	PRON
fsr-3489	640	9	is	be	AUX
fsr-3489	640	10	not	not	PART
fsr-3489	640	11	in	in	ADP
fsr-3489	640	12	the	the	DET
fsr-3489	640	13	s&p	s&p	PROPN
fsr-3489	640	14	500	500	NUM
fsr-3489	640	15	index	index	NOUN
fsr-3489	640	16	,	,	PUNCT
fsr-3489	640	17	mainly	mainly	ADV
fsr-3489	640	18	smaller	small	ADJ
fsr-3489	640	19	capitalization	capitalization	NOUN
fsr-3489	640	20	stocks	stock	NOUN
fsr-3489	640	21	.	.	PUNCT
fsr-3489	641	1	they	they	PRON
fsr-3489	641	2	also	also	ADV
fsr-3489	641	3	only	only	ADV
fsr-3489	641	4	“	"	PUNCT
fsr-3489	641	5	normally	normally	ADV
fsr-3489	641	6	…	…	PUNCT
fsr-3489	641	7	invest	invest	VERB
fsr-3489	641	8	at	at	ADV
fsr-3489	641	9	least	least	ADV
fsr-3489	641	10	80	80	NUM
fsr-3489	641	11	%	%	NOUN
fsr-3489	641	12	of	of	ADP
fsr-3489	641	13	assets	asset	NOUN
fsr-3489	641	14	in	in	ADP
fsr-3489	641	15	securities	security	NOUN
fsr-3489	641	16	of	of	ADP
fsr-3489	641	17	companies	company	NOUN
fsr-3489	641	18	principally	principally	ADV
fsr-3489	641	19	engaged	engage	VERB
fsr-3489	641	20	in	in	ADP
fsr-3489	641	21	the	the	DET
fsr-3489	641	22	selected	select	VERB
fsr-3489	641	23	sector	sector	NOUN
fsr-3489	641	24	,	,	PUNCT
fsr-3489	641	25	”	"	PUNCT
fsr-3489	641	26	which	which	PRON
fsr-3489	641	27	gives	give	VERB
fsr-3489	641	28	them	they	PRON
fsr-3489	641	29	some	some	DET
fsr-3489	641	30	wiggle	wiggle	NOUN
fsr-3489	641	31	room	room	NOUN
fsr-3489	641	32	across	across	ADP
fsr-3489	641	33	sector	sector	NOUN
fsr-3489	641	34	borders	border	NOUN
fsr-3489	641	35	.	.	PUNCT
fsr-3489	642	1	however	however	ADV
fsr-3489	642	2	,	,	PUNCT
fsr-3489	642	3	it	it	PRON
fsr-3489	642	4	is	be	AUX
fsr-3489	642	5	hard	hard	ADJ
fsr-3489	642	6	to	to	PART
fsr-3489	642	7	imagine	imagine	VERB
fsr-3489	642	8	they	they	PRON
fsr-3489	642	9	deviate	deviate	VERB
fsr-3489	642	10	very	very	ADV
fsr-3489	642	11	far	far	ADV
fsr-3489	642	12	from	from	ADP
fsr-3489	642	13	their	their	PRON
fsr-3489	642	14	benchmark	benchmark	NOUN
fsr-3489	642	15	.	.	PUNCT
fsr-3489	643	1	only	only	ADV
fsr-3489	643	2	eight	eight	NUM
fsr-3489	643	3	out	out	ADV
fsr-3489	643	4	266	266	NUM
fsr-3489	643	5	c.y	c.y	PROPN
fsr-3489	643	6	.	.	PROPN
fsr-3489	643	7	lin	lin	PROPN
fsr-3489	643	8	/	/	SYM
fsr-3489	643	9	financial	financial	ADJ
fsr-3489	643	10	services	service	NOUN
fsr-3489	643	11	review	review	VERB
fsr-3489	643	12	23	23	NUM
fsr-3489	643	13	(	(	PUNCT
fsr-3489	643	14	2014	2014	NUM
fsr-3489	643	15	)	)	PUNCT
fsr-3489	644	1	249–271	249–271	NUM
fsr-3489	644	2	0.0	0.0	NUM
fsr-3489	644	3	0.2	0.2	NUM
fsr-3489	644	4	0.4	0.4	NUM
fsr-3489	644	5	0.6	0.6	NUM
fsr-3489	644	6	0.8	0.8	NUM
fsr-3489	644	7	1.0	1.0	NUM
fsr-3489	644	8	ja	ja	PROPN
fsr-3489	644	9	n02	n02	PROPN
fsr-3489	644	10	ju	ju	PROPN
fsr-3489	644	11	n02	n02	PROPN
fsr-3489	644	12	n	n	CCONJ
fsr-3489	644	13	ov	ov	INTJ
fsr-3489	644	14	-0	-0	NOUN
fsr-3489	644	15	2	2	NUM
fsr-3489	644	16	a	a	DET
fsr-3489	644	17	pr	pr	NOUN
fsr-3489	644	18	-0	-0	PUNCT
fsr-3489	644	19	3	3	NUM
fsr-3489	644	20	se	se	PROPN
fsr-3489	644	21	p03	p03	PROPN
fsr-3489	644	22	fe	fe	PROPN
fsr-3489	644	23	b04	b04	PROPN
fsr-3489	644	24	ju	ju	PROPN
fsr-3489	644	25	l04	l04	PROPN
fsr-3489	644	26	d	d	PROPN
fsr-3489	644	27	ec	ec	PROPN
fsr-3489	644	28	-0	-0	PUNCT
fsr-3489	644	29	4	4	NUM
fsr-3489	644	30	m	m	PROPN
fsr-3489	644	31	a	a	DET
fsr-3489	644	32	y	y	NOUN
fsr-3489	644	33	-0	-0	PROPN
fsr-3489	644	34	5	5	NUM
fsr-3489	644	35	o	o	NOUN
fsr-3489	644	36	ct	ct	NUM
fsr-3489	644	37	-0	-0	SYM
fsr-3489	644	38	5	5	NUM
fsr-3489	644	39	m	m	PROPN
fsr-3489	644	40	ar	ar	NOUN
fsr-3489	644	41	-0	-0	PROPN
fsr-3489	644	42	6	6	NUM
fsr-3489	644	43	a	a	PRON
fsr-3489	644	44	ug	ug	ADP
fsr-3489	644	45	-0	-0	PROPN
fsr-3489	644	46	6	6	NUM
fsr-3489	644	47	ja	ja	PROPN
fsr-3489	644	48	n07	n07	PROPN
fsr-3489	644	49	ju	ju	PROPN
fsr-3489	644	50	n07	n07	PROPN
fsr-3489	644	51	n	n	INTJ
fsr-3489	644	52	ov	ov	INTJ
fsr-3489	644	53	-0	-0	PROPN
fsr-3489	644	54	7	7	NUM
fsr-3489	644	55	a	a	DET
fsr-3489	644	56	pr	pr	NOUN
fsr-3489	644	57	-0	-0	PUNCT
fsr-3489	644	58	8	8	NUM
fsr-3489	644	59	se	se	PROPN
fsr-3489	644	60	p08	p08	PROPN
fsr-3489	644	61	fe	fe	PROPN
fsr-3489	644	62	b09	b09	PROPN
fsr-3489	644	63	ju	ju	PROPN
fsr-3489	644	64	l09	l09	PROPN
fsr-3489	644	65	d	d	PROPN
fsr-3489	644	66	ec	ec	PROPN
fsr-3489	644	67	-0	-0	PROPN
fsr-3489	644	68	9	9	NUM
fsr-3489	644	69	m	m	NOUN
fsr-3489	644	70	ay	ay	NOUN
fsr-3489	644	71	-1	-1	NOUN
fsr-3489	644	72	0	0	PUNCT
fsr-3489	645	1	o	o	NOUN
fsr-3489	645	2	ct	ct	NUM
fsr-3489	645	3	-1	-1	NOUN
fsr-3489	645	4	0	0	NUM
fsr-3489	646	1	materials	material	NOUN
fsr-3489	646	2	0.0	0.0	NUM
fsr-3489	646	3	0.2	0.2	NUM
fsr-3489	646	4	0.4	0.4	NUM
fsr-3489	646	5	0.6	0.6	NUM
fsr-3489	646	6	0.8	0.8	NUM
fsr-3489	646	7	1.0	1.0	NUM
fsr-3489	646	8	ja	ja	PROPN
fsr-3489	646	9	n02	n02	PROPN
fsr-3489	646	10	ju	ju	PROPN
fsr-3489	646	11	n02	n02	PROPN
fsr-3489	646	12	n	n	CCONJ
fsr-3489	646	13	ov	ov	INTJ
fsr-3489	646	14	-0	-0	NOUN
fsr-3489	646	15	2	2	NUM
fsr-3489	646	16	a	a	DET
fsr-3489	646	17	pr	pr	NOUN
fsr-3489	646	18	-0	-0	PUNCT
fsr-3489	646	19	3	3	NUM
fsr-3489	646	20	se	se	PROPN
fsr-3489	646	21	p03	p03	PROPN
fsr-3489	646	22	fe	fe	PROPN
fsr-3489	646	23	b04	b04	PROPN
fsr-3489	646	24	ju	ju	PROPN
fsr-3489	646	25	l04	l04	PROPN
fsr-3489	646	26	d	d	PROPN
fsr-3489	646	27	ec	ec	PROPN
fsr-3489	646	28	-0	-0	PUNCT
fsr-3489	646	29	4	4	NUM
fsr-3489	646	30	m	m	NOUN
fsr-3489	646	31	ay	ay	NOUN
fsr-3489	646	32	-0	-0	NOUN
fsr-3489	646	33	5	5	NUM
fsr-3489	646	34	o	o	NOUN
fsr-3489	646	35	ct	ct	NUM
fsr-3489	646	36	-0	-0	SYM
fsr-3489	646	37	5	5	NUM
fsr-3489	646	38	m	m	PROPN
fsr-3489	646	39	ar	ar	NOUN
fsr-3489	646	40	-0	-0	PROPN
fsr-3489	646	41	6	6	NUM
fsr-3489	646	42	a	a	PRON
fsr-3489	646	43	ug	ug	ADP
fsr-3489	646	44	-0	-0	PROPN
fsr-3489	646	45	6	6	NUM
fsr-3489	646	46	ja	ja	PROPN
fsr-3489	646	47	n07	n07	PROPN
fsr-3489	646	48	ju	ju	PROPN
fsr-3489	646	49	n07	n07	PROPN
fsr-3489	646	50	n	n	INTJ
fsr-3489	646	51	ov	ov	INTJ
fsr-3489	646	52	-0	-0	PROPN
fsr-3489	646	53	7	7	NUM
fsr-3489	646	54	a	a	DET
fsr-3489	646	55	pr	pr	NOUN
fsr-3489	646	56	-0	-0	PUNCT
fsr-3489	646	57	8	8	NUM
fsr-3489	646	58	se	se	PROPN
fsr-3489	646	59	p08	p08	PROPN
fsr-3489	646	60	fe	fe	PROPN
fsr-3489	646	61	b09	b09	PROPN
fsr-3489	646	62	ju	ju	PROPN
fsr-3489	646	63	l09	l09	PROPN
fsr-3489	646	64	d	d	PROPN
fsr-3489	646	65	ec	ec	PROPN
fsr-3489	646	66	-0	-0	PROPN
fsr-3489	646	67	9	9	NUM
fsr-3489	646	68	m	m	NOUN
fsr-3489	646	69	ay	ay	NOUN
fsr-3489	646	70	-1	-1	NOUN
fsr-3489	646	71	0	0	PUNCT
fsr-3489	647	1	o	o	NOUN
fsr-3489	647	2	ct	ct	NUM
fsr-3489	647	3	-1	-1	NOUN
fsr-3489	647	4	0	0	NUM
fsr-3489	648	1	energy	energy	NOUN
fsr-3489	648	2	0.0	0.0	NUM
fsr-3489	648	3	0.2	0.2	NUM
fsr-3489	648	4	0.4	0.4	NUM
fsr-3489	648	5	0.6	0.6	NUM
fsr-3489	648	6	0.8	0.8	NUM
fsr-3489	648	7	1.0	1.0	NUM
fsr-3489	648	8	ja	ja	PROPN
fsr-3489	648	9	n02	n02	PROPN
fsr-3489	648	10	ju	ju	PROPN
fsr-3489	648	11	n02	n02	PROPN
fsr-3489	648	12	n	n	CCONJ
fsr-3489	648	13	ov	ov	INTJ
fsr-3489	648	14	-0	-0	NOUN
fsr-3489	648	15	2	2	NUM
fsr-3489	648	16	a	a	DET
fsr-3489	648	17	pr	pr	NOUN
fsr-3489	648	18	-0	-0	PUNCT
fsr-3489	648	19	3	3	NUM
fsr-3489	648	20	se	se	PROPN
fsr-3489	648	21	p03	p03	PROPN
fsr-3489	648	22	fe	fe	PROPN
fsr-3489	648	23	b04	b04	PROPN
fsr-3489	648	24	ju	ju	PROPN
fsr-3489	648	25	l04	l04	PROPN
fsr-3489	648	26	d	d	PROPN
fsr-3489	648	27	ec	ec	PROPN
fsr-3489	648	28	-0	-0	PUNCT
fsr-3489	648	29	4	4	NUM
fsr-3489	648	30	m	m	PROPN
fsr-3489	648	31	a	a	DET
fsr-3489	648	32	y	y	NOUN
fsr-3489	648	33	-0	-0	PROPN
fsr-3489	648	34	5	5	NUM
fsr-3489	648	35	o	o	NOUN
fsr-3489	648	36	ct	ct	NUM
fsr-3489	648	37	-0	-0	SYM
fsr-3489	648	38	5	5	NUM
fsr-3489	648	39	m	m	PROPN
fsr-3489	648	40	ar	ar	NOUN
fsr-3489	648	41	-0	-0	PROPN
fsr-3489	648	42	6	6	NUM
fsr-3489	648	43	a	a	DET
fsr-3489	648	44	u	u	NOUN
fsr-3489	648	45	g	g	NOUN
fsr-3489	648	46	-0	-0	PROPN
fsr-3489	648	47	6	6	NUM
fsr-3489	648	48	ja	ja	PROPN
fsr-3489	648	49	n07	n07	PROPN
fsr-3489	648	50	ju	ju	PROPN
fsr-3489	648	51	n07	n07	PROPN
fsr-3489	648	52	n	n	INTJ
fsr-3489	648	53	ov	ov	INTJ
fsr-3489	648	54	-0	-0	PROPN
fsr-3489	648	55	7	7	NUM
fsr-3489	648	56	a	a	DET
fsr-3489	648	57	pr	pr	NOUN
fsr-3489	648	58	-0	-0	PUNCT
fsr-3489	648	59	8	8	NUM
fsr-3489	648	60	se	se	PROPN
fsr-3489	648	61	p08	p08	PROPN
fsr-3489	648	62	fe	fe	PROPN
fsr-3489	648	63	b09	b09	PROPN
fsr-3489	648	64	ju	ju	PROPN
fsr-3489	648	65	l09	l09	PROPN
fsr-3489	648	66	d	d	PROPN
fsr-3489	648	67	ec	ec	PROPN
fsr-3489	648	68	-0	-0	PROPN
fsr-3489	648	69	9	9	NUM
fsr-3489	648	70	m	m	NOUN
fsr-3489	648	71	ay	ay	NOUN
fsr-3489	648	72	-1	-1	NOUN
fsr-3489	648	73	0	0	PUNCT
fsr-3489	649	1	o	o	NOUN
fsr-3489	649	2	ct	ct	NUM
fsr-3489	649	3	-1	-1	NOUN
fsr-3489	649	4	0	0	NUM
fsr-3489	649	5	financial	financial	ADJ
fsr-3489	649	6	0.0	0.0	NUM
fsr-3489	649	7	0.2	0.2	NUM
fsr-3489	649	8	0.4	0.4	NUM
fsr-3489	649	9	0.6	0.6	NUM
fsr-3489	649	10	0.8	0.8	NUM
fsr-3489	649	11	1.0	1.0	NUM
fsr-3489	649	12	ja	ja	PROPN
fsr-3489	649	13	n02	n02	PROPN
fsr-3489	649	14	ju	ju	PROPN
fsr-3489	649	15	n02	n02	PROPN
fsr-3489	649	16	n	n	CCONJ
fsr-3489	649	17	ov	ov	INTJ
fsr-3489	649	18	-0	-0	NOUN
fsr-3489	649	19	2	2	NUM
fsr-3489	649	20	a	a	DET
fsr-3489	649	21	pr	pr	NOUN
fsr-3489	649	22	-0	-0	PUNCT
fsr-3489	649	23	3	3	NUM
fsr-3489	649	24	se	se	PROPN
fsr-3489	649	25	p03	p03	PROPN
fsr-3489	649	26	fe	fe	PROPN
fsr-3489	649	27	b04	b04	PROPN
fsr-3489	649	28	ju	ju	PROPN
fsr-3489	649	29	l04	l04	PROPN
fsr-3489	649	30	d	d	PROPN
fsr-3489	649	31	ec	ec	PROPN
fsr-3489	649	32	-0	-0	PUNCT
fsr-3489	649	33	4	4	NUM
fsr-3489	649	34	m	m	PROPN
fsr-3489	649	35	a	a	DET
fsr-3489	649	36	y	y	NOUN
fsr-3489	649	37	-0	-0	PROPN
fsr-3489	649	38	5	5	NUM
fsr-3489	650	1	o	o	NOUN
fsr-3489	650	2	ct	ct	NUM
fsr-3489	650	3	-0	-0	SYM
fsr-3489	650	4	5	5	NUM
fsr-3489	650	5	m	m	PROPN
fsr-3489	650	6	ar	ar	NOUN
fsr-3489	650	7	-0	-0	PROPN
fsr-3489	650	8	6	6	NUM
fsr-3489	650	9	a	a	DET
fsr-3489	650	10	u	u	NOUN
fsr-3489	650	11	g	g	NOUN
fsr-3489	650	12	-0	-0	PROPN
fsr-3489	650	13	6	6	NUM
fsr-3489	650	14	ja	ja	PROPN
fsr-3489	650	15	n07	n07	PROPN
fsr-3489	650	16	ju	ju	PROPN
fsr-3489	650	17	n07	n07	PROPN
fsr-3489	650	18	n	n	INTJ
fsr-3489	650	19	ov	ov	INTJ
fsr-3489	650	20	-0	-0	PROPN
fsr-3489	650	21	7	7	NUM
fsr-3489	650	22	a	a	DET
fsr-3489	650	23	pr	pr	NOUN
fsr-3489	650	24	-0	-0	PUNCT
fsr-3489	650	25	8	8	NUM
fsr-3489	650	26	se	se	PROPN
fsr-3489	650	27	p08	p08	PROPN
fsr-3489	650	28	fe	fe	PROPN
fsr-3489	650	29	b09	b09	PROPN
fsr-3489	650	30	ju	ju	PROPN
fsr-3489	650	31	l09	l09	PROPN
fsr-3489	650	32	d	d	PROPN
fsr-3489	650	33	ec	ec	PROPN
fsr-3489	650	34	-0	-0	PROPN
fsr-3489	650	35	9	9	NUM
fsr-3489	650	36	m	m	NOUN
fsr-3489	650	37	ay	ay	NOUN
fsr-3489	650	38	-1	-1	NOUN
fsr-3489	650	39	0	0	PUNCT
fsr-3489	651	1	o	o	NOUN
fsr-3489	651	2	ct	ct	NUM
fsr-3489	651	3	-1	-1	NOUN
fsr-3489	651	4	0	0	NUM
fsr-3489	652	1	industrials	industrial	NOUN
fsr-3489	652	2	0.0	0.0	NUM
fsr-3489	652	3	0.2	0.2	NUM
fsr-3489	652	4	0.4	0.4	NUM
fsr-3489	652	5	0.6	0.6	NUM
fsr-3489	652	6	0.8	0.8	NUM
fsr-3489	652	7	1.0	1.0	NUM
fsr-3489	652	8	ja	ja	PROPN
fsr-3489	652	9	n02	n02	PROPN
fsr-3489	652	10	ju	ju	PROPN
fsr-3489	652	11	n02	n02	PROPN
fsr-3489	652	12	n	n	CCONJ
fsr-3489	652	13	ov	ov	INTJ
fsr-3489	652	14	-0	-0	NOUN
fsr-3489	652	15	2	2	NUM
fsr-3489	652	16	a	a	DET
fsr-3489	652	17	pr	pr	NOUN
fsr-3489	652	18	-0	-0	PUNCT
fsr-3489	652	19	3	3	NUM
fsr-3489	652	20	se	se	PROPN
fsr-3489	652	21	p03	p03	PROPN
fsr-3489	652	22	fe	fe	PROPN
fsr-3489	652	23	b04	b04	PROPN
fsr-3489	652	24	ju	ju	PROPN
fsr-3489	652	25	l04	l04	PROPN
fsr-3489	652	26	d	d	PROPN
fsr-3489	652	27	ec	ec	PROPN
fsr-3489	652	28	-0	-0	PUNCT
fsr-3489	652	29	4	4	NUM
fsr-3489	652	30	m	m	NOUN
fsr-3489	652	31	ay	ay	NOUN
fsr-3489	652	32	-0	-0	NOUN
fsr-3489	652	33	5	5	NUM
fsr-3489	652	34	o	o	NOUN
fsr-3489	652	35	ct	ct	NUM
fsr-3489	652	36	-0	-0	SYM
fsr-3489	652	37	5	5	NUM
fsr-3489	652	38	m	m	PROPN
fsr-3489	652	39	ar	ar	NOUN
fsr-3489	652	40	-0	-0	PROPN
fsr-3489	652	41	6	6	NUM
fsr-3489	652	42	a	a	DET
fsr-3489	652	43	u	u	NOUN
fsr-3489	652	44	g	g	NOUN
fsr-3489	652	45	-0	-0	PROPN
fsr-3489	652	46	6	6	NUM
fsr-3489	652	47	ja	ja	PROPN
fsr-3489	652	48	n07	n07	PROPN
fsr-3489	652	49	ju	ju	PROPN
fsr-3489	652	50	n07	n07	PROPN
fsr-3489	652	51	n	n	INTJ
fsr-3489	652	52	ov	ov	INTJ
fsr-3489	652	53	-0	-0	PROPN
fsr-3489	652	54	7	7	NUM
fsr-3489	652	55	a	a	DET
fsr-3489	652	56	pr	pr	NOUN
fsr-3489	652	57	-0	-0	PUNCT
fsr-3489	652	58	8	8	NUM
fsr-3489	652	59	se	se	PROPN
fsr-3489	652	60	p08	p08	PROPN
fsr-3489	652	61	fe	fe	PROPN
fsr-3489	652	62	b09	b09	PROPN
fsr-3489	652	63	ju	ju	PROPN
fsr-3489	652	64	l09	l09	PROPN
fsr-3489	652	65	d	d	PROPN
fsr-3489	652	66	ec	ec	PROPN
fsr-3489	652	67	-0	-0	PROPN
fsr-3489	652	68	9	9	NUM
fsr-3489	652	69	m	m	NOUN
fsr-3489	652	70	ay	ay	NOUN
fsr-3489	652	71	-1	-1	NOUN
fsr-3489	652	72	0	0	PUNCT
fsr-3489	653	1	o	o	NOUN
fsr-3489	653	2	ct	ct	NUM
fsr-3489	653	3	-1	-1	NOUN
fsr-3489	653	4	0	0	NUM
fsr-3489	654	1	technology	technology	NOUN
fsr-3489	654	2	0.0	0.0	NUM
fsr-3489	654	3	0.2	0.2	NUM
fsr-3489	654	4	0.4	0.4	NUM
fsr-3489	654	5	0.6	0.6	NUM
fsr-3489	654	6	0.8	0.8	NUM
fsr-3489	654	7	1.0	1.0	NUM
fsr-3489	654	8	ja	ja	PROPN
fsr-3489	654	9	n02	n02	PROPN
fsr-3489	654	10	ju	ju	PROPN
fsr-3489	654	11	n02	n02	PROPN
fsr-3489	654	12	n	n	CCONJ
fsr-3489	654	13	ov	ov	INTJ
fsr-3489	654	14	-0	-0	NOUN
fsr-3489	654	15	2	2	NUM
fsr-3489	654	16	a	a	DET
fsr-3489	654	17	pr	pr	NOUN
fsr-3489	654	18	-0	-0	PUNCT
fsr-3489	654	19	3	3	NUM
fsr-3489	654	20	se	se	PROPN
fsr-3489	654	21	p03	p03	PROPN
fsr-3489	654	22	fe	fe	PROPN
fsr-3489	654	23	b04	b04	PROPN
fsr-3489	654	24	ju	ju	PROPN
fsr-3489	654	25	l04	l04	PROPN
fsr-3489	654	26	d	d	PROPN
fsr-3489	654	27	ec	ec	PROPN
fsr-3489	654	28	-0	-0	PUNCT
fsr-3489	654	29	4	4	NUM
fsr-3489	654	30	m	m	NOUN
fsr-3489	654	31	ay	ay	NOUN
fsr-3489	654	32	-0	-0	NOUN
fsr-3489	654	33	5	5	NUM
fsr-3489	654	34	o	o	NOUN
fsr-3489	654	35	ct	ct	NUM
fsr-3489	654	36	-0	-0	SYM
fsr-3489	654	37	5	5	NUM
fsr-3489	654	38	m	m	PROPN
fsr-3489	654	39	ar	ar	NOUN
fsr-3489	654	40	-0	-0	PROPN
fsr-3489	654	41	6	6	NUM
fsr-3489	654	42	a	a	PRON
fsr-3489	654	43	ug	ug	ADP
fsr-3489	654	44	-0	-0	PROPN
fsr-3489	654	45	6	6	NUM
fsr-3489	654	46	ja	ja	PROPN
fsr-3489	654	47	n07	n07	PROPN
fsr-3489	654	48	ju	ju	PROPN
fsr-3489	654	49	n07	n07	PROPN
fsr-3489	654	50	n	n	INTJ
fsr-3489	654	51	ov	ov	INTJ
fsr-3489	654	52	-0	-0	PROPN
fsr-3489	654	53	7	7	NUM
fsr-3489	654	54	a	a	DET
fsr-3489	654	55	pr	pr	NOUN
fsr-3489	654	56	-0	-0	PUNCT
fsr-3489	654	57	8	8	NUM
fsr-3489	654	58	se	se	PROPN
fsr-3489	654	59	p08	p08	PROPN
fsr-3489	654	60	fe	fe	PROPN
fsr-3489	654	61	b09	b09	PROPN
fsr-3489	654	62	ju	ju	PROPN
fsr-3489	654	63	l09	l09	PROPN
fsr-3489	654	64	d	d	PROPN
fsr-3489	654	65	ec	ec	PROPN
fsr-3489	654	66	-0	-0	PROPN
fsr-3489	654	67	9	9	NUM
fsr-3489	654	68	m	m	NOUN
fsr-3489	654	69	ay	ay	NOUN
fsr-3489	654	70	-1	-1	NOUN
fsr-3489	654	71	0	0	PUNCT
fsr-3489	655	1	o	o	NOUN
fsr-3489	655	2	ct	ct	NUM
fsr-3489	655	3	-1	-1	NOUN
fsr-3489	655	4	0	0	NUM
fsr-3489	655	5	consumer	consumer	NOUN
fsr-3489	655	6	staples	staple	NOUN
fsr-3489	655	7	0.0	0.0	NUM
fsr-3489	655	8	0.2	0.2	NUM
fsr-3489	655	9	0.4	0.4	NUM
fsr-3489	655	10	0.6	0.6	NUM
fsr-3489	655	11	0.8	0.8	NUM
fsr-3489	655	12	1.0	1.0	NUM
fsr-3489	655	13	ja	ja	PROPN
fsr-3489	655	14	n02	n02	PROPN
fsr-3489	655	15	ju	ju	PROPN
fsr-3489	655	16	n02	n02	PROPN
fsr-3489	655	17	n	n	CCONJ
fsr-3489	655	18	ov	ov	INTJ
fsr-3489	655	19	-0	-0	NOUN
fsr-3489	655	20	2	2	NUM
fsr-3489	655	21	a	a	DET
fsr-3489	655	22	pr	pr	NOUN
fsr-3489	655	23	-0	-0	PUNCT
fsr-3489	655	24	3	3	NUM
fsr-3489	655	25	se	se	PROPN
fsr-3489	655	26	p03	p03	PROPN
fsr-3489	655	27	fe	fe	PROPN
fsr-3489	655	28	b04	b04	PROPN
fsr-3489	655	29	ju	ju	PROPN
fsr-3489	655	30	l04	l04	PROPN
fsr-3489	655	31	d	d	PROPN
fsr-3489	655	32	ec	ec	PROPN
fsr-3489	655	33	-0	-0	PUNCT
fsr-3489	655	34	4	4	NUM
fsr-3489	655	35	m	m	NOUN
fsr-3489	655	36	ay	ay	NOUN
fsr-3489	655	37	-0	-0	NOUN
fsr-3489	655	38	5	5	NUM
fsr-3489	655	39	o	o	NOUN
fsr-3489	655	40	ct	ct	NUM
fsr-3489	655	41	-0	-0	SYM
fsr-3489	655	42	5	5	NUM
fsr-3489	655	43	m	m	PROPN
fsr-3489	655	44	ar	ar	NOUN
fsr-3489	655	45	-0	-0	PROPN
fsr-3489	655	46	6	6	NUM
fsr-3489	655	47	a	a	PRON
fsr-3489	655	48	ug	ug	ADP
fsr-3489	655	49	-0	-0	PROPN
fsr-3489	655	50	6	6	NUM
fsr-3489	655	51	ja	ja	PROPN
fsr-3489	655	52	n07	n07	PROPN
fsr-3489	655	53	ju	ju	PROPN
fsr-3489	655	54	n07	n07	PROPN
fsr-3489	655	55	n	n	INTJ
fsr-3489	655	56	ov	ov	INTJ
fsr-3489	655	57	-0	-0	PROPN
fsr-3489	655	58	7	7	NUM
fsr-3489	655	59	a	a	DET
fsr-3489	655	60	pr	pr	NOUN
fsr-3489	655	61	-0	-0	PUNCT
fsr-3489	655	62	8	8	NUM
fsr-3489	655	63	se	se	PROPN
fsr-3489	655	64	p08	p08	PROPN
fsr-3489	655	65	fe	fe	PROPN
fsr-3489	655	66	b09	b09	PROPN
fsr-3489	655	67	ju	ju	PROPN
fsr-3489	655	68	l09	l09	PROPN
fsr-3489	655	69	d	d	PROPN
fsr-3489	655	70	ec	ec	PROPN
fsr-3489	655	71	-0	-0	PROPN
fsr-3489	655	72	9	9	NUM
fsr-3489	655	73	m	m	NOUN
fsr-3489	655	74	ay	ay	NOUN
fsr-3489	655	75	-1	-1	NOUN
fsr-3489	655	76	0	0	PUNCT
fsr-3489	656	1	o	o	NOUN
fsr-3489	656	2	ct	ct	NUM
fsr-3489	656	3	-1	-1	NOUN
fsr-3489	656	4	0	0	NUM
fsr-3489	657	1	utilities	utility	NOUN
fsr-3489	657	2	0.0	0.0	NUM
fsr-3489	657	3	0.2	0.2	NUM
fsr-3489	657	4	0.4	0.4	NUM
fsr-3489	657	5	0.6	0.6	NUM
fsr-3489	657	6	0.8	0.8	NUM
fsr-3489	657	7	1.0	1.0	NUM
fsr-3489	657	8	ja	ja	PROPN
fsr-3489	657	9	n02	n02	PROPN
fsr-3489	657	10	ju	ju	PROPN
fsr-3489	657	11	n02	n02	PROPN
fsr-3489	657	12	n	n	CCONJ
fsr-3489	657	13	ov	ov	INTJ
fsr-3489	657	14	-0	-0	NOUN
fsr-3489	657	15	2	2	NUM
fsr-3489	657	16	a	a	DET
fsr-3489	657	17	pr	pr	NOUN
fsr-3489	657	18	-0	-0	PUNCT
fsr-3489	657	19	3	3	NUM
fsr-3489	657	20	se	se	PROPN
fsr-3489	657	21	p03	p03	PROPN
fsr-3489	657	22	fe	fe	PROPN
fsr-3489	657	23	b04	b04	PROPN
fsr-3489	657	24	ju	ju	PROPN
fsr-3489	657	25	l04	l04	PROPN
fsr-3489	657	26	d	d	PROPN
fsr-3489	657	27	ec	ec	PROPN
fsr-3489	657	28	-0	-0	PUNCT
fsr-3489	657	29	4	4	NUM
fsr-3489	657	30	m	m	NOUN
fsr-3489	657	31	ay	ay	NOUN
fsr-3489	657	32	-0	-0	NOUN
fsr-3489	657	33	5	5	NUM
fsr-3489	657	34	o	o	NOUN
fsr-3489	657	35	ct	ct	NUM
fsr-3489	657	36	-0	-0	SYM
fsr-3489	657	37	5	5	NUM
fsr-3489	657	38	m	m	PROPN
fsr-3489	657	39	ar	ar	NOUN
fsr-3489	657	40	-0	-0	PROPN
fsr-3489	657	41	6	6	NUM
fsr-3489	657	42	a	a	PRON
fsr-3489	657	43	ug	ug	ADP
fsr-3489	657	44	-0	-0	PROPN
fsr-3489	657	45	6	6	NUM
fsr-3489	657	46	ja	ja	PROPN
fsr-3489	657	47	n07	n07	PROPN
fsr-3489	657	48	ju	ju	PROPN
fsr-3489	657	49	n07	n07	PROPN
fsr-3489	657	50	n	n	INTJ
fsr-3489	657	51	ov	ov	INTJ
fsr-3489	657	52	-0	-0	PROPN
fsr-3489	657	53	7	7	NUM
fsr-3489	657	54	a	a	DET
fsr-3489	657	55	pr	pr	NOUN
fsr-3489	657	56	-0	-0	PUNCT
fsr-3489	657	57	8	8	NUM
fsr-3489	657	58	se	se	PROPN
fsr-3489	657	59	p08	p08	PROPN
fsr-3489	657	60	fe	fe	PROPN
fsr-3489	657	61	b09	b09	PROPN
fsr-3489	657	62	ju	ju	PROPN
fsr-3489	657	63	l09	l09	PROPN
fsr-3489	657	64	d	d	PROPN
fsr-3489	657	65	ec	ec	PROPN
fsr-3489	657	66	-0	-0	PROPN
fsr-3489	657	67	9	9	NUM
fsr-3489	657	68	m	m	NOUN
fsr-3489	657	69	ay	ay	NOUN
fsr-3489	657	70	-1	-1	NOUN
fsr-3489	657	71	0	0	PUNCT
fsr-3489	658	1	o	o	NOUN
fsr-3489	658	2	ct	ct	INTJ
fsr-3489	658	3	-1	-1	NOUN
fsr-3489	658	4	0	0	NUM
fsr-3489	659	1	healthcare	healthcare	NOUN
fsr-3489	659	2	0.0	0.0	NUM
fsr-3489	659	3	0.2	0.2	NUM
fsr-3489	659	4	0.4	0.4	NUM
fsr-3489	659	5	0.6	0.6	NUM
fsr-3489	659	6	0.8	0.8	NUM
fsr-3489	659	7	1.0	1.0	NUM
fsr-3489	659	8	ja	ja	PROPN
fsr-3489	659	9	n02	n02	PROPN
fsr-3489	659	10	ju	ju	PROPN
fsr-3489	659	11	n02	n02	PROPN
fsr-3489	659	12	n	n	CCONJ
fsr-3489	659	13	ov	ov	INTJ
fsr-3489	659	14	-0	-0	NOUN
fsr-3489	659	15	2	2	NUM
fsr-3489	659	16	a	a	DET
fsr-3489	659	17	pr	pr	NOUN
fsr-3489	659	18	-0	-0	PUNCT
fsr-3489	659	19	3	3	NUM
fsr-3489	659	20	se	se	PROPN
fsr-3489	659	21	p03	p03	PROPN
fsr-3489	659	22	fe	fe	PROPN
fsr-3489	659	23	b04	b04	PROPN
fsr-3489	659	24	ju	ju	PROPN
fsr-3489	659	25	l04	l04	PROPN
fsr-3489	659	26	d	d	PROPN
fsr-3489	659	27	ec	ec	PROPN
fsr-3489	659	28	-0	-0	PUNCT
fsr-3489	659	29	4	4	NUM
fsr-3489	659	30	m	m	NOUN
fsr-3489	659	31	ay	ay	NOUN
fsr-3489	659	32	-0	-0	NOUN
fsr-3489	659	33	5	5	NUM
fsr-3489	659	34	o	o	NOUN
fsr-3489	659	35	ct	ct	NUM
fsr-3489	659	36	-0	-0	SYM
fsr-3489	659	37	5	5	NUM
fsr-3489	659	38	m	m	PROPN
fsr-3489	659	39	ar	ar	NOUN
fsr-3489	659	40	-0	-0	PROPN
fsr-3489	659	41	6	6	NUM
fsr-3489	659	42	a	a	DET
fsr-3489	659	43	u	u	NOUN
fsr-3489	659	44	g	g	NOUN
fsr-3489	659	45	-0	-0	PROPN
fsr-3489	659	46	6	6	NUM
fsr-3489	659	47	ja	ja	PROPN
fsr-3489	659	48	n07	n07	PROPN
fsr-3489	659	49	ju	ju	PROPN
fsr-3489	659	50	n07	n07	PROPN
fsr-3489	659	51	n	n	INTJ
fsr-3489	659	52	ov	ov	INTJ
fsr-3489	659	53	-0	-0	PROPN
fsr-3489	659	54	7	7	NUM
fsr-3489	659	55	a	a	DET
fsr-3489	659	56	pr	pr	NOUN
fsr-3489	659	57	-0	-0	PUNCT
fsr-3489	659	58	8	8	NUM
fsr-3489	659	59	se	se	PROPN
fsr-3489	659	60	p08	p08	PROPN
fsr-3489	659	61	fe	fe	PROPN
fsr-3489	659	62	b09	b09	PROPN
fsr-3489	659	63	ju	ju	PROPN
fsr-3489	659	64	l09	l09	PROPN
fsr-3489	659	65	d	d	PROPN
fsr-3489	659	66	ec	ec	PROPN
fsr-3489	659	67	-0	-0	PROPN
fsr-3489	659	68	9	9	NUM
fsr-3489	659	69	m	m	PROPN
fsr-3489	659	70	a	a	DET
fsr-3489	659	71	y	y	NOUN
fsr-3489	659	72	-1	-1	NOUN
fsr-3489	659	73	0	0	PUNCT
fsr-3489	660	1	o	o	NOUN
fsr-3489	660	2	ct	ct	NUM
fsr-3489	660	3	-1	-1	NOUN
fsr-3489	660	4	0	0	NUM
fsr-3489	660	5	consumer	consumer	NOUN
fsr-3489	660	6	discretionary	discretionary	ADJ
fsr-3489	660	7	mf	mf	NOUN
fsr-3489	660	8	vs.	vs.	ADP
fsr-3489	660	9	etf	etf	NOUN
fsr-3489	660	10	mf	mf	X
fsr-3489	660	11	vs.	vs.	X
fsr-3489	660	12	spy	spy	NOUN
fsr-3489	660	13	etf	etf	NOUN
fsr-3489	660	14	vs.	vs.	ADP
fsr-3489	660	15	spy	spy	NOUN
fsr-3489	660	16	fig	fig	NOUN
fsr-3489	660	17	.	.	PUNCT
fsr-3489	661	1	4	4	NUM
fsr-3489	661	2	.	.	X
fsr-3489	661	3	thirty	thirty	NUM
fsr-3489	661	4	-	-	PUNCT
fsr-3489	661	5	six	six	NUM
fsr-3489	661	6	months	month	NOUN
fsr-3489	661	7	rolling	roll	VERB
fsr-3489	661	8	correlation	correlation	NOUN
fsr-3489	661	9	between	between	ADP
fsr-3489	661	10	funds	fund	NOUN
fsr-3489	661	11	.	.	PUNCT
fsr-3489	662	1	267c.y	267c.y	X
fsr-3489	662	2	.	.	PUNCT
fsr-3489	663	1	lin	lin	PROPN
fsr-3489	663	2	/	/	SYM
fsr-3489	663	3	financial	financial	ADJ
fsr-3489	663	4	services	service	NOUN
fsr-3489	663	5	review	review	VERB
fsr-3489	663	6	23	23	NUM
fsr-3489	663	7	(	(	PUNCT
fsr-3489	663	8	2014	2014	NUM
fsr-3489	663	9	)	)	PUNCT
fsr-3489	664	1	249–271	249–271	NUM
fsr-3489	664	2	of	of	ADP
fsr-3489	664	3	90	90	NUM
fsr-3489	664	4	stocks	stock	NOUN
fsr-3489	664	5	of	of	ADP
fsr-3489	664	6	the	the	DET
fsr-3489	664	7	top	top	ADJ
fsr-3489	664	8	10	10	NUM
fsr-3489	664	9	holdings	holding	NOUN
fsr-3489	664	10	of	of	ADP
fsr-3489	664	11	the	the	DET
fsr-3489	664	12	fidelity	fidelity	NOUN
fsr-3489	664	13	select	select	ADJ
fsr-3489	664	14	portfolios	portfolio	NOUN
fsr-3489	664	15	at	at	ADP
fsr-3489	664	16	the	the	DET
fsr-3489	664	17	end	end	NOUN
fsr-3489	664	18	of	of	ADP
fsr-3489	664	19	september	september	PROPN
fsr-3489	664	20	2012	2012	NUM
fsr-3489	664	21	are	be	AUX
fsr-3489	664	22	not	not	PART
fsr-3489	664	23	in	in	ADP
fsr-3489	664	24	the	the	DET
fsr-3489	664	25	s&p	s&p	PROPN
fsr-3489	664	26	500	500	NUM
fsr-3489	664	27	index.14	index.14	NOUN
fsr-3489	664	28	half	half	NOUN
fsr-3489	664	29	of	of	ADP
fsr-3489	664	30	that	that	DET
fsr-3489	664	31	eight	eight	NUM
fsr-3489	664	32	are	be	AUX
fsr-3489	664	33	foreign	foreign	ADJ
fsr-3489	664	34	stocks	stock	NOUN
fsr-3489	664	35	.	.	PUNCT
fsr-3489	665	1	seven	seven	NUM
fsr-3489	665	2	out	out	ADP
fsr-3489	665	3	of	of	ADP
fsr-3489	665	4	the	the	DET
fsr-3489	665	5	eight	eight	NUM
fsr-3489	665	6	has	have	VERB
fsr-3489	665	7	a	a	DET
fsr-3489	665	8	weight	weight	NOUN
fsr-3489	665	9	between	between	ADP
fsr-3489	665	10	1.59	1.59	NUM
fsr-3489	665	11	%	%	NOUN
fsr-3489	665	12	and	and	CCONJ
fsr-3489	665	13	4.05	4.05	NUM
fsr-3489	665	14	%	%	NOUN
fsr-3489	665	15	of	of	ADP
fsr-3489	665	16	corresponding	correspond	VERB
fsr-3489	665	17	sector	sector	NOUN
fsr-3489	665	18	mfs	mfs	PROPN
fsr-3489	665	19	;	;	PUNCT
fsr-3489	665	20	the	the	DET
fsr-3489	665	21	other	other	ADJ
fsr-3489	665	22	one	one	NUM
fsr-3489	665	23	weights	weight	NOUN
fsr-3489	665	24	13.66%.15	13.66%.15	NUM
fsr-3489	665	25	the	the	DET
fsr-3489	665	26	top	top	ADJ
fsr-3489	665	27	weighted	weight	VERB
fsr-3489	665	28	index	index	NOUN
fsr-3489	665	29	stocks	stock	NOUN
fsr-3489	665	30	also	also	ADV
fsr-3489	665	31	make	make	VERB
fsr-3489	665	32	the	the	DET
fsr-3489	665	33	backbone	backbone	NOUN
fsr-3489	665	34	of	of	ADP
fsr-3489	665	35	the	the	DET
fsr-3489	665	36	sector	sector	NOUN
fsr-3489	665	37	mutual	mutual	ADJ
fsr-3489	665	38	funds	fund	NOUN
fsr-3489	665	39	.	.	PUNCT
fsr-3489	666	1	the	the	DET
fsr-3489	666	2	number	number	NOUN
fsr-3489	666	3	of	of	ADP
fsr-3489	666	4	stocks	stock	NOUN
fsr-3489	666	5	in	in	ADP
fsr-3489	666	6	the	the	DET
fsr-3489	666	7	top	top	ADJ
fsr-3489	666	8	10	10	NUM
fsr-3489	666	9	holdings	holding	NOUN
fsr-3489	666	10	of	of	ADP
fsr-3489	666	11	both	both	DET
fsr-3489	666	12	sector	sector	NOUN
fsr-3489	666	13	mfs	mfs	NOUN
fsr-3489	666	14	and	and	CCONJ
fsr-3489	666	15	etfs	etfs	PROPN
fsr-3489	666	16	varies	vary	VERB
fsr-3489	666	17	from	from	ADP
fsr-3489	666	18	three	three	NUM
fsr-3489	666	19	to	to	PART
fsr-3489	666	20	seven	seven	NUM
fsr-3489	666	21	.	.	PUNCT
fsr-3489	667	1	seven	seven	NUM
fsr-3489	667	2	out	out	ADP
fsr-3489	667	3	of	of	ADP
fsr-3489	667	4	top	top	ADJ
fsr-3489	667	5	10	10	NUM
fsr-3489	667	6	holdings	holding	NOUN
fsr-3489	667	7	of	of	ADP
fsr-3489	667	8	the	the	DET
fsr-3489	667	9	materials	material	NOUN
fsr-3489	667	10	,	,	PUNCT
fsr-3489	667	11	industrials	industrial	NOUN
fsr-3489	667	12	,	,	PUNCT
fsr-3489	667	13	and	and	CCONJ
fsr-3489	667	14	healthcare	healthcare	NOUN
fsr-3489	667	15	mf	mf	NOUN
fsr-3489	667	16	are	be	AUX
fsr-3489	667	17	also	also	ADV
fsr-3489	667	18	in	in	ADP
fsr-3489	667	19	the	the	DET
fsr-3489	667	20	etf	etf	NOUN
fsr-3489	667	21	top	top	ADJ
fsr-3489	667	22	10	10	NUM
fsr-3489	667	23	list	list	NOUN
fsr-3489	667	24	,	,	PUNCT
fsr-3489	667	25	and	and	CCONJ
fsr-3489	667	26	the	the	DET
fsr-3489	667	27	top	top	ADJ
fsr-3489	667	28	10	10	NUM
fsr-3489	667	29	holdings	holding	NOUN
fsr-3489	667	30	make	make	VERB
fsr-3489	667	31	up	up	ADP
fsr-3489	667	32	between	between	ADP
fsr-3489	667	33	46	46	NUM
fsr-3489	667	34	%	%	NOUN
fsr-3489	667	35	and	and	CCONJ
fsr-3489	667	36	64	64	NUM
fsr-3489	667	37	%	%	NOUN
fsr-3489	667	38	of	of	ADP
fsr-3489	667	39	these	these	DET
fsr-3489	667	40	three	three	NUM
fsr-3489	667	41	mutual	mutual	ADJ
fsr-3489	667	42	funds	fund	NOUN
fsr-3489	667	43	.	.	PUNCT
fsr-3489	668	1	that	that	DET
fsr-3489	668	2	number	number	NOUN
fsr-3489	668	3	is	be	AUX
fsr-3489	668	4	six	six	NUM
fsr-3489	668	5	for	for	ADP
fsr-3489	668	6	the	the	DET
fsr-3489	668	7	consumer	consumer	NOUN
fsr-3489	668	8	staples	staple	NOUN
fsr-3489	668	9	and	and	CCONJ
fsr-3489	668	10	consumer	consumer	NOUN
fsr-3489	668	11	discretionary	discretionary	ADJ
fsr-3489	668	12	mf	mf	NOUN
fsr-3489	668	13	,	,	PUNCT
fsr-3489	668	14	five	five	NUM
fsr-3489	668	15	for	for	ADP
fsr-3489	668	16	the	the	DET
fsr-3489	668	17	energy	energy	NOUN
fsr-3489	668	18	and	and	CCONJ
fsr-3489	668	19	technology	technology	NOUN
fsr-3489	668	20	mf	mf	NOUN
fsr-3489	668	21	,	,	PUNCT
fsr-3489	668	22	four	four	NUM
fsr-3489	668	23	for	for	SCONJ
fsr-3489	668	24	the	the	DET
fsr-3489	668	25	utilities	utility	NOUN
fsr-3489	668	26	mf	mf	VERB
fsr-3489	668	27	,	,	PUNCT
fsr-3489	668	28	and	and	CCONJ
fsr-3489	668	29	three	three	NUM
fsr-3489	668	30	for	for	ADP
fsr-3489	668	31	the	the	DET
fsr-3489	668	32	financial	financial	ADJ
fsr-3489	668	33	mf	mf	NOUN
fsr-3489	668	34	.	.	PUNCT
fsr-3489	669	1	the	the	DET
fsr-3489	669	2	top	top	ADJ
fsr-3489	669	3	10	10	NUM
fsr-3489	669	4	holdings	holding	NOUN
fsr-3489	669	5	make	make	VERB
fsr-3489	669	6	up	up	ADP
fsr-3489	669	7	between	between	ADP
fsr-3489	669	8	29	29	NUM
fsr-3489	669	9	%	%	NOUN
fsr-3489	669	10	and	and	CCONJ
fsr-3489	669	11	68	68	NUM
fsr-3489	669	12	%	%	NOUN
fsr-3489	669	13	of	of	ADP
fsr-3489	669	14	the	the	DET
fsr-3489	669	15	funds	fund	NOUN
fsr-3489	669	16	in	in	ADP
fsr-3489	669	17	these	these	DET
fsr-3489	669	18	six	six	NUM
fsr-3489	669	19	sectors	sector	NOUN
fsr-3489	669	20	.	.	PUNCT
fsr-3489	670	1	5.2	5.2	NUM
fsr-3489	670	2	.	.	PUNCT
fsr-3489	671	1	fidelity	fidelity	PROPN
fsr-3489	671	2	fidelity	fidelity	PROPN
fsr-3489	671	3	had	have	AUX
fsr-3489	671	4	been	be	AUX
fsr-3489	671	5	the	the	DET
fsr-3489	671	6	largest	large	ADJ
fsr-3489	671	7	mutual	mutual	ADJ
fsr-3489	671	8	fund	fund	NOUN
fsr-3489	671	9	family	family	NOUN
fsr-3489	671	10	that	that	PRON
fsr-3489	671	11	mainly	mainly	ADV
fsr-3489	671	12	provides	provide	VERB
fsr-3489	671	13	actively	actively	ADV
fsr-3489	671	14	managed	manage	VERB
fsr-3489	671	15	mutual	mutual	ADJ
fsr-3489	671	16	funds	fund	NOUN
fsr-3489	671	17	for	for	ADP
fsr-3489	671	18	several	several	ADJ
fsr-3489	671	19	decades	decade	NOUN
fsr-3489	671	20	.	.	PUNCT
fsr-3489	672	1	pozen	pozen	NOUN
fsr-3489	672	2	and	and	CCONJ
fsr-3489	672	3	hamacher	hamacher	NOUN
fsr-3489	672	4	(	(	PUNCT
fsr-3489	672	5	2011	2011	NUM
fsr-3489	672	6	)	)	PUNCT
fsr-3489	672	7	argue	argue	VERB
fsr-3489	672	8	that	that	SCONJ
fsr-3489	672	9	fidelity	fidelity	NOUN
fsr-3489	672	10	,	,	PUNCT
fsr-3489	672	11	among	among	ADP
fsr-3489	672	12	several	several	ADJ
fsr-3489	672	13	other	other	ADJ
fsr-3489	672	14	fund	fund	NOUN
fsr-3489	672	15	families	family	NOUN
fsr-3489	672	16	,	,	PUNCT
fsr-3489	672	17	has	have	VERB
fsr-3489	672	18	two	two	NUM
fsr-3489	672	19	characteristics	characteristic	NOUN
fsr-3489	672	20	that	that	PRON
fsr-3489	672	21	contribute	contribute	VERB
fsr-3489	672	22	to	to	ADP
fsr-3489	672	23	its	its	PRON
fsr-3489	672	24	success	success	NOUN
fsr-3489	672	25	in	in	ADP
fsr-3489	672	26	the	the	DET
fsr-3489	672	27	u.s	u.s	PROPN
fsr-3489	672	28	.	.	PROPN
fsr-3489	672	29	mutual	mutual	ADJ
fsr-3489	672	30	fund	fund	NOUN
fsr-3489	672	31	business	business	NOUN
fsr-3489	672	32	:	:	PUNCT
fsr-3489	672	33	dedication	dedication	NOUN
fsr-3489	672	34	primary	primary	NOUN
fsr-3489	672	35	to	to	ADP
fsr-3489	672	36	asset	asset	NOUN
fsr-3489	672	37	management	management	NOUN
fsr-3489	672	38	and	and	CCONJ
fsr-3489	672	39	control	control	NOUN
fsr-3489	672	40	by	by	ADP
fsr-3489	672	41	investment	investment	NOUN
fsr-3489	672	42	professionals	professional	NOUN
fsr-3489	672	43	.	.	PUNCT
fsr-3489	673	1	the	the	DET
fsr-3489	673	2	fidelity	fidelity	PROPN
fsr-3489	673	3	fund	fund	PROPN
fsr-3489	673	4	family	family	NOUN
fsr-3489	673	5	has	have	AUX
fsr-3489	673	6	maintained	maintain	VERB
fsr-3489	673	7	top	top	ADJ
fsr-3489	673	8	market	market	NOUN
fsr-3489	673	9	shares	share	NOUN
fsr-3489	673	10	in	in	ADP
fsr-3489	673	11	the	the	DET
fsr-3489	673	12	past	past	ADJ
fsr-3489	673	13	decade	decade	NOUN
fsr-3489	673	14	:	:	PUNCT
fsr-3489	673	15	10.2	10.2	NUM
fsr-3489	673	16	%	%	NOUN
fsr-3489	673	17	,	,	PUNCT
fsr-3489	673	18	11.8	11.8	NUM
fsr-3489	673	19	%	%	NOUN
fsr-3489	673	20	,	,	PUNCT
fsr-3489	673	21	and	and	CCONJ
fsr-3489	673	22	11.3	11.3	NUM
fsr-3489	673	23	%	%	NOUN
fsr-3489	673	24	in	in	ADP
fsr-3489	673	25	year	year	NOUN
fsr-3489	673	26	1990	1990	NUM
fsr-3489	673	27	,	,	PUNCT
fsr-3489	673	28	1995	1995	NUM
fsr-3489	673	29	,	,	PUNCT
fsr-3489	673	30	and	and	CCONJ
fsr-3489	673	31	2010	2010	NUM
fsr-3489	673	32	,	,	PUNCT
fsr-3489	673	33	respectively	respectively	ADV
fsr-3489	673	34	.	.	PUNCT
fsr-3489	674	1	it	it	PRON
fsr-3489	674	2	was	be	AUX
fsr-3489	674	3	no	no	INTJ
fsr-3489	674	4	.	.	NOUN
fsr-3489	674	5	1	1	NUM
fsr-3489	674	6	in	in	ADP
fsr-3489	674	7	1990	1990	NUM
fsr-3489	674	8	and	and	CCONJ
fsr-3489	674	9	1995	1995	NUM
fsr-3489	674	10	,	,	PUNCT
fsr-3489	674	11	but	but	CCONJ
fsr-3489	674	12	passed	pass	VERB
fsr-3489	674	13	by	by	ADP
fsr-3489	674	14	vanguard	vanguard	NOUN
fsr-3489	674	15	(	(	PUNCT
fsr-3489	674	16	12.1	12.1	NUM
fsr-3489	674	17	%	%	NOUN
fsr-3489	674	18	)	)	PUNCT
fsr-3489	674	19	in	in	ADP
fsr-3489	674	20	2010	2010	NUM
fsr-3489	674	21	.	.	PUNCT
fsr-3489	675	1	fidelity	fidelity	PROPN
fsr-3489	675	2	’s	’s	PART
fsr-3489	675	3	stock	stock	NOUN
fsr-3489	675	4	is	be	AUX
fsr-3489	675	5	effectively	effectively	ADV
fsr-3489	675	6	controlled	control	VERB
fsr-3489	675	7	by	by	ADP
fsr-3489	675	8	members	member	NOUN
fsr-3489	675	9	of	of	ADP
fsr-3489	675	10	its	its	PRON
fsr-3489	675	11	funding	funding	NOUN
fsr-3489	675	12	family	family	NOUN
fsr-3489	675	13	,	,	PUNCT
fsr-3489	675	14	which	which	PRON
fsr-3489	675	15	relieves	relieve	VERB
fsr-3489	675	16	the	the	DET
fsr-3489	675	17	short	short	ADJ
fsr-3489	675	18	-	-	PUNCT
fsr-3489	675	19	term	term	NOUN
fsr-3489	675	20	performance	performance	NOUN
fsr-3489	675	21	pressure	pressure	NOUN
fsr-3489	675	22	from	from	ADP
fsr-3489	675	23	public	public	ADJ
fsr-3489	675	24	shareholders	shareholder	NOUN
fsr-3489	675	25	to	to	PART
fsr-3489	675	26	increase	increase	VERB
fsr-3489	675	27	quarterly	quarterly	ADJ
fsr-3489	675	28	earnings	earning	NOUN
fsr-3489	675	29	.	.	PUNCT
fsr-3489	676	1	they	they	PRON
fsr-3489	676	2	also	also	ADV
fsr-3489	676	3	stated	state	VERB
fsr-3489	676	4	that	that	SCONJ
fsr-3489	676	5	fidelity	fidelity	PROPN
fsr-3489	676	6	can	can	AUX
fsr-3489	676	7	develop	develop	VERB
fsr-3489	676	8	compensation	compensation	NOUN
fsr-3489	676	9	programs	program	NOUN
fsr-3489	676	10	that	that	PRON
fsr-3489	676	11	promote	promote	VERB
fsr-3489	676	12	top	top	ADJ
fsr-3489	676	13	performance	performance	NOUN
fsr-3489	676	14	.	.	PUNCT
fsr-3489	677	1	fidelity	fidelity	PROPN
fsr-3489	677	2	’s	’s	PART
fsr-3489	677	3	megellan	megellan	PROPN
fsr-3489	677	4	fund	fund	PROPN
fsr-3489	677	5	has	have	AUX
fsr-3489	677	6	long	long	ADV
fsr-3489	677	7	been	be	AUX
fsr-3489	677	8	used	use	VERB
fsr-3489	677	9	as	as	ADP
fsr-3489	677	10	an	an	DET
fsr-3489	677	11	evidence	evidence	NOUN
fsr-3489	677	12	to	to	PART
fsr-3489	677	13	defy	defy	VERB
fsr-3489	677	14	emh	emh	PROPN
fsr-3489	677	15	(	(	PUNCT
fsr-3489	677	16	see	see	VERB
fsr-3489	677	17	kochman	kochman	NOUN
fsr-3489	677	18	and	and	CCONJ
fsr-3489	677	19	badarinathi	badarinathi	PROPN
fsr-3489	677	20	1993	1993	NUM
fsr-3489	677	21	and	and	CCONJ
fsr-3489	677	22	marcus	marcus	PROPN
fsr-3489	677	23	1990	1990	NUM
fsr-3489	677	24	)	)	PUNCT
fsr-3489	677	25	.	.	PUNCT
fsr-3489	678	1	fidelity	fidelity	PROPN
fsr-3489	678	2	’s	’s	PART
fsr-3489	678	3	large	large	ADJ
fsr-3489	678	4	size	size	NOUN
fsr-3489	678	5	can	can	AUX
fsr-3489	678	6	also	also	ADV
fsr-3489	678	7	potentially	potentially	ADV
fsr-3489	678	8	gain	gain	VERB
fsr-3489	678	9	an	an	DET
fsr-3489	678	10	insider	insider	NOUN
fsr-3489	678	11	edge	edge	NOUN
fsr-3489	678	12	as	as	SCONJ
fsr-3489	678	13	golec	golec	NOUN
fsr-3489	678	14	(	(	PUNCT
fsr-3489	678	15	2007	2007	NUM
fsr-3489	678	16	)	)	PUNCT
fsr-3489	678	17	shows	show	VERB
fsr-3489	678	18	some	some	DET
fsr-3489	678	19	evidence	evidence	NOUN
fsr-3489	678	20	on	on	ADP
fsr-3489	678	21	informed	informed	ADJ
fsr-3489	678	22	trades	trade	NOUN
fsr-3489	678	23	made	make	VERB
fsr-3489	678	24	by	by	ADP
fsr-3489	678	25	fidelity	fidelity	NOUN
fsr-3489	678	26	funds	fund	NOUN
fsr-3489	678	27	.	.	PUNCT
fsr-3489	679	1	the	the	DET
fsr-3489	679	2	large	large	ADJ
fsr-3489	679	3	size	size	NOUN
fsr-3489	679	4	of	of	ADP
fsr-3489	679	5	fidelity	fidelity	PROPN
fsr-3489	679	6	’s	’s	PART
fsr-3489	679	7	assets	asset	NOUN
fsr-3489	679	8	under	under	ADP
fsr-3489	679	9	management	management	NOUN
fsr-3489	679	10	can	can	AUX
fsr-3489	679	11	provide	provide	VERB
fsr-3489	679	12	economy	economy	NOUN
fsr-3489	679	13	of	of	ADP
fsr-3489	679	14	scale	scale	NOUN
fsr-3489	679	15	for	for	ADP
fsr-3489	679	16	securities	security	NOUN
fsr-3489	679	17	research	research	NOUN
fsr-3489	679	18	,	,	PUNCT
fsr-3489	679	19	which	which	PRON
fsr-3489	679	20	aids	aid	VERB
fsr-3489	679	21	the	the	DET
fsr-3489	679	22	key	key	ADJ
fsr-3489	679	23	element	element	NOUN
fsr-3489	679	24	of	of	ADP
fsr-3489	679	25	active	active	ADJ
fsr-3489	679	26	management	management	NOUN
fsr-3489	679	27	:	:	PUNCT
fsr-3489	679	28	security	security	NOUN
fsr-3489	679	29	selecting	selecting	NOUN
fsr-3489	679	30	.	.	PUNCT
fsr-3489	680	1	unlike	unlike	ADP
fsr-3489	680	2	passive	passive	ADJ
fsr-3489	680	3	managers	manager	NOUN
fsr-3489	680	4	,	,	PUNCT
fsr-3489	680	5	who	who	PRON
fsr-3489	680	6	often	often	ADV
fsr-3489	680	7	do	do	VERB
fsr-3489	680	8	little	little	ADJ
fsr-3489	680	9	on	on	ADP
fsr-3489	680	10	stock	stock	NOUN
fsr-3489	680	11	selection	selection	NOUN
fsr-3489	680	12	,	,	PUNCT
fsr-3489	680	13	active	active	ADJ
fsr-3489	680	14	managers	manager	NOUN
fsr-3489	680	15	can	can	AUX
fsr-3489	680	16	beat	beat	VERB
fsr-3489	680	17	their	their	PRON
fsr-3489	680	18	benchmark	benchmark	NOUN
fsr-3489	680	19	by	by	ADP
fsr-3489	680	20	overweighting	overweighte	VERB
fsr-3489	680	21	future	future	ADJ
fsr-3489	680	22	winners	winner	NOUN
fsr-3489	680	23	,	,	PUNCT
fsr-3489	680	24	underweighting	underweighte	VERB
fsr-3489	680	25	future	future	ADJ
fsr-3489	680	26	losers	loser	NOUN
fsr-3489	680	27	,	,	PUNCT
fsr-3489	680	28	or	or	CCONJ
fsr-3489	680	29	some	some	DET
fsr-3489	680	30	combination	combination	NOUN
fsr-3489	680	31	of	of	ADP
fsr-3489	680	32	both	both	PRON
fsr-3489	680	33	.	.	PUNCT
fsr-3489	681	1	they	they	PRON
fsr-3489	681	2	also	also	ADV
fsr-3489	681	3	have	have	VERB
fsr-3489	681	4	the	the	DET
fsr-3489	681	5	freedom	freedom	NOUN
fsr-3489	681	6	of	of	ADP
fsr-3489	681	7	holding	hold	VERB
fsr-3489	681	8	cash	cash	NOUN
fsr-3489	681	9	.	.	PUNCT
fsr-3489	682	1	focusing	focus	VERB
fsr-3489	682	2	on	on	ADP
fsr-3489	682	3	only	only	ADV
fsr-3489	682	4	one	one	NUM
fsr-3489	682	5	sector	sector	NOUN
fsr-3489	682	6	,	,	PUNCT
fsr-3489	682	7	sector	sector	NOUN
fsr-3489	682	8	fund	fund	NOUN
fsr-3489	682	9	managers	manager	NOUN
fsr-3489	682	10	can	can	AUX
fsr-3489	682	11	potentially	potentially	ADV
fsr-3489	682	12	gain	gain	VERB
fsr-3489	682	13	growing	grow	VERB
fsr-3489	682	14	knowledge	knowledge	NOUN
fsr-3489	682	15	and	and	CCONJ
fsr-3489	682	16	experience	experience	NOUN
fsr-3489	682	17	dealing	deal	VERB
fsr-3489	682	18	with	with	ADP
fsr-3489	682	19	stocks	stock	NOUN
fsr-3489	682	20	in	in	ADP
fsr-3489	682	21	that	that	DET
fsr-3489	682	22	sector	sector	NOUN
fsr-3489	682	23	,	,	PUNCT
fsr-3489	682	24	which	which	PRON
fsr-3489	682	25	could	could	AUX
fsr-3489	682	26	help	help	VERB
fsr-3489	682	27	their	their	PRON
fsr-3489	682	28	performance	performance	NOUN
fsr-3489	682	29	.	.	PUNCT
fsr-3489	683	1	elton	elton	PROPN
fsr-3489	683	2	,	,	PUNCT
fsr-3489	683	3	gruber	gruber	PROPN
fsr-3489	683	4	,	,	PUNCT
fsr-3489	683	5	and	and	CCONJ
fsr-3489	683	6	green	green	ADJ
fsr-3489	683	7	(	(	PUNCT
fsr-3489	683	8	2007	2007	NUM
fsr-3489	683	9	)	)	PUNCT
fsr-3489	683	10	explain	explain	VERB
fsr-3489	683	11	why	why	SCONJ
fsr-3489	683	12	funds	fund	NOUN
fsr-3489	683	13	may	may	AUX
fsr-3489	683	14	be	be	AUX
fsr-3489	683	15	more	more	ADV
fsr-3489	683	16	similar	similar	ADJ
fsr-3489	683	17	inside	inside	ADV
fsr-3489	683	18	than	than	ADP
fsr-3489	683	19	outside	outside	ADJ
fsr-3489	683	20	fund	fund	NOUN
fsr-3489	683	21	families	family	NOUN
fsr-3489	683	22	:	:	PUNCT
fsr-3489	683	23	portfolio	portfolio	NOUN
fsr-3489	683	24	managers	manager	NOUN
fsr-3489	683	25	within	within	ADP
fsr-3489	683	26	families	family	NOUN
fsr-3489	683	27	are	be	AUX
fsr-3489	683	28	likely	likely	ADJ
fsr-3489	683	29	to	to	PART
fsr-3489	683	30	have	have	VERB
fsr-3489	683	31	access	access	NOUN
fsr-3489	683	32	to	to	ADP
fsr-3489	683	33	the	the	DET
fsr-3489	683	34	same	same	ADJ
fsr-3489	683	35	research	research	NOUN
fsr-3489	683	36	analysis	analysis	NOUN
fsr-3489	683	37	produced	produce	VERB
fsr-3489	683	38	either	either	CCONJ
fsr-3489	683	39	by	by	ADP
fsr-3489	683	40	internal	internal	ADJ
fsr-3489	683	41	analysts	analyst	NOUN
fsr-3489	683	42	or	or	CCONJ
fsr-3489	683	43	by	by	ADP
fsr-3489	683	44	a	a	DET
fsr-3489	683	45	particular	particular	ADJ
fsr-3489	683	46	set	set	NOUN
fsr-3489	683	47	of	of	ADP
fsr-3489	683	48	external	external	ADJ
fsr-3489	683	49	research	research	NOUN
fsr-3489	683	50	firms	firm	NOUN
fsr-3489	683	51	;	;	PUNCT
fsr-3489	683	52	portfolio	portfolio	NOUN
fsr-3489	683	53	managers	manager	NOUN
fsr-3489	683	54	may	may	AUX
fsr-3489	683	55	begin	begin	VERB
fsr-3489	683	56	the	the	DET
fsr-3489	683	57	security	security	NOUN
fsr-3489	683	58	selection	selection	NOUN
fsr-3489	683	59	process	process	NOUN
fsr-3489	683	60	with	with	ADP
fsr-3489	683	61	an	an	DET
fsr-3489	683	62	economic	economic	ADJ
fsr-3489	683	63	forecast	forecast	NOUN
fsr-3489	683	64	that	that	PRON
fsr-3489	683	65	is	be	AUX
fsr-3489	683	66	shared	share	VERB
fsr-3489	683	67	by	by	ADP
fsr-3489	683	68	other	other	ADJ
fsr-3489	683	69	fund	fund	NOUN
fsr-3489	683	70	managers	manager	NOUN
fsr-3489	683	71	within	within	ADP
fsr-3489	683	72	the	the	DET
fsr-3489	683	73	firm	firm	NOUN
fsr-3489	683	74	.	.	PUNCT
fsr-3489	684	1	it	it	PRON
fsr-3489	684	2	is	be	AUX
fsr-3489	684	3	not	not	PART
fsr-3489	684	4	a	a	DET
fsr-3489	684	5	surprise	surprise	NOUN
fsr-3489	684	6	that	that	SCONJ
fsr-3489	684	7	fidelity	fidelity	NOUN
fsr-3489	684	8	sector	sector	NOUN
fsr-3489	684	9	funds	fund	NOUN
fsr-3489	684	10	as	as	SCONJ
fsr-3489	684	11	a	a	DET
fsr-3489	684	12	group	group	NOUN
fsr-3489	684	13	can	can	AUX
fsr-3489	684	14	outperform	outperform	VERB
fsr-3489	684	15	when	when	SCONJ
fsr-3489	684	16	the	the	DET
fsr-3489	684	17	shared	share	VERB
fsr-3489	684	18	research	research	NOUN
fsr-3489	684	19	and	and	CCONJ
fsr-3489	684	20	macro	macro	ADJ
fsr-3489	684	21	view	view	NOUN
fsr-3489	684	22	work	work	VERB
fsr-3489	684	23	well	well	ADV
fsr-3489	684	24	.	.	PUNCT
fsr-3489	685	1	268	268	NUM
fsr-3489	685	2	c.y	c.y	PROPN
fsr-3489	685	3	.	.	PROPN
fsr-3489	685	4	lin	lin	PROPN
fsr-3489	685	5	/	/	SYM
fsr-3489	685	6	financial	financial	ADJ
fsr-3489	685	7	services	service	NOUN
fsr-3489	685	8	review	review	VERB
fsr-3489	685	9	23	23	NUM
fsr-3489	685	10	(	(	PUNCT
fsr-3489	685	11	2014	2014	NUM
fsr-3489	685	12	)	)	PUNCT
fsr-3489	686	1	249–271	249–271	NUM
fsr-3489	686	2	6	6	NUM
fsr-3489	686	3	.	.	PUNCT
fsr-3489	686	4	conclusion	conclusion	NOUN
fsr-3489	686	5	this	this	DET
fsr-3489	686	6	article	article	NOUN
fsr-3489	686	7	is	be	AUX
fsr-3489	686	8	one	one	NUM
fsr-3489	686	9	of	of	ADP
fsr-3489	686	10	the	the	DET
fsr-3489	686	11	first	first	ADJ
fsr-3489	686	12	that	that	PRON
fsr-3489	686	13	reports	report	VERB
fsr-3489	686	14	detailed	detailed	ADJ
fsr-3489	686	15	analysis	analysis	NOUN
fsr-3489	686	16	on	on	ADP
fsr-3489	686	17	individual	individual	ADJ
fsr-3489	686	18	equity	equity	NOUN
fsr-3489	686	19	sector	sector	NOUN
fsr-3489	686	20	fund	fund	NOUN
fsr-3489	686	21	performance	performance	NOUN
fsr-3489	686	22	.	.	PUNCT
fsr-3489	687	1	it	it	PRON
fsr-3489	687	2	also	also	ADV
fsr-3489	687	3	contributes	contribute	VERB
fsr-3489	687	4	to	to	ADP
fsr-3489	687	5	the	the	DET
fsr-3489	687	6	literature	literature	NOUN
fsr-3489	687	7	by	by	ADP
fsr-3489	687	8	adding	add	VERB
fsr-3489	687	9	evidence	evidence	NOUN
fsr-3489	687	10	of	of	ADP
fsr-3489	687	11	active	active	ADJ
fsr-3489	687	12	equity	equity	NOUN
fsr-3489	687	13	management	management	NOUN
fsr-3489	687	14	outperformance	outperformance	NOUN
fsr-3489	687	15	.	.	PUNCT
fsr-3489	688	1	i	i	PRON
fsr-3489	688	2	find	find	VERB
fsr-3489	688	3	considerable	considerable	ADJ
fsr-3489	688	4	evidence	evidence	NOUN
fsr-3489	688	5	that	that	SCONJ
fsr-3489	688	6	sector	sector	NOUN
fsr-3489	688	7	mutual	mutual	ADJ
fsr-3489	688	8	funds	fund	NOUN
fsr-3489	688	9	,	,	PUNCT
fsr-3489	688	10	the	the	DET
fsr-3489	688	11	nine	nine	NUM
fsr-3489	688	12	fidelity	fidelity	NOUN
fsr-3489	688	13	select	select	ADJ
fsr-3489	688	14	portfolios	portfolio	NOUN
fsr-3489	688	15	here	here	ADV
fsr-3489	688	16	,	,	PUNCT
fsr-3489	688	17	have	have	AUX
fsr-3489	688	18	provided	provide	VERB
fsr-3489	688	19	better	well	ADJ
fsr-3489	688	20	after	after	ADP
fsr-3489	688	21	-	-	PUNCT
fsr-3489	688	22	expense	expense	NOUN
fsr-3489	688	23	returns	return	NOUN
fsr-3489	688	24	against	against	ADP
fsr-3489	688	25	broader	broad	ADJ
fsr-3489	688	26	market	market	NOUN
fsr-3489	688	27	etf	etf	NOUN
fsr-3489	688	28	,	,	PUNCT
fsr-3489	688	29	spy	spy	NOUN
fsr-3489	688	30	,	,	PUNCT
fsr-3489	688	31	and	and	CCONJ
fsr-3489	688	32	their	their	PRON
fsr-3489	688	33	peer	peer	NOUN
fsr-3489	688	34	sector	sector	NOUN
fsr-3489	688	35	etfs	etfs	NOUN
fsr-3489	688	36	,	,	PUNCT
fsr-3489	688	37	the	the	DET
fsr-3489	688	38	nine	nine	NUM
fsr-3489	688	39	select	select	ADJ
fsr-3489	688	40	sector	sector	NOUN
fsr-3489	688	41	spdr	spdr	NOUN
fsr-3489	688	42	funds	fund	NOUN
fsr-3489	688	43	,	,	PUNCT
fsr-3489	688	44	during	during	ADP
fsr-3489	688	45	the	the	DET
fsr-3489	688	46	sample	sample	NOUN
fsr-3489	688	47	period	period	NOUN
fsr-3489	688	48	1999–2010	1999–2010	NUM
fsr-3489	688	49	.	.	PUNCT
fsr-3489	689	1	not	not	PART
fsr-3489	689	2	only	only	ADV
fsr-3489	689	3	do	do	AUX
fsr-3489	689	4	they	they	PRON
fsr-3489	689	5	achieve	achieve	VERB
fsr-3489	689	6	higher	high	ADJ
fsr-3489	689	7	nominal	nominal	ADJ
fsr-3489	689	8	returns	return	NOUN
fsr-3489	689	9	over	over	ADP
fsr-3489	689	10	the	the	DET
fsr-3489	689	11	12	12	NUM
fsr-3489	689	12	-	-	PUNCT
fsr-3489	689	13	year	year	NOUN
fsr-3489	689	14	period	period	NOUN
fsr-3489	689	15	except	except	SCONJ
fsr-3489	689	16	for	for	ADP
fsr-3489	689	17	few	few	ADJ
fsr-3489	689	18	sector	sector	NOUN
fsr-3489	689	19	mfs	mfs	PROPN
fsr-3489	689	20	,	,	PUNCT
fsr-3489	689	21	some	some	PRON
fsr-3489	689	22	of	of	ADP
fsr-3489	689	23	the	the	DET
fsr-3489	689	24	funds	fund	NOUN
fsr-3489	689	25	also	also	ADV
fsr-3489	689	26	generate	generate	VERB
fsr-3489	689	27	higher	high	ADJ
fsr-3489	689	28	riskadjusted	riskadjuste	VERB
fsr-3489	689	29	returns	return	NOUN
fsr-3489	689	30	measured	measure	VERB
fsr-3489	689	31	by	by	ADP
fsr-3489	689	32	sharpe	sharpe	PROPN
fsr-3489	689	33	ratio16	ratio16	PROPN
fsr-3489	689	34	and	and	CCONJ
fsr-3489	689	35	!	!	PUNCT
fsr-3489	690	1	from	from	ADP
fsr-3489	690	2	various	various	ADJ
fsr-3489	690	3	asset	asset	NOUN
fsr-3489	690	4	pricing	pricing	NOUN
fsr-3489	690	5	models	model	NOUN
fsr-3489	690	6	.	.	PUNCT
fsr-3489	691	1	none	none	NOUN
fsr-3489	691	2	of	of	ADP
fsr-3489	691	3	the	the	DET
fsr-3489	691	4	sector	sector	NOUN
fsr-3489	691	5	mfs	mfs	NOUN
fsr-3489	691	6	generates	generate	VERB
fsr-3489	691	7	a	a	DET
fsr-3489	691	8	significant	significant	ADJ
fsr-3489	691	9	negative	negative	NOUN
fsr-3489	691	10	!	!	PUNCT
fsr-3489	692	1	for	for	ADP
fsr-3489	692	2	the	the	DET
fsr-3489	692	3	full	full	ADJ
fsr-3489	692	4	sample	sample	NOUN
fsr-3489	692	5	period	period	NOUN
fsr-3489	692	6	no	no	ADV
fsr-3489	692	7	matter	matter	ADV
fsr-3489	692	8	which	which	DET
fsr-3489	692	9	asset	asset	NOUN
fsr-3489	692	10	pricing	pricing	NOUN
fsr-3489	692	11	model	model	NOUN
fsr-3489	692	12	is	be	AUX
fsr-3489	692	13	used	use	VERB
fsr-3489	692	14	.	.	PUNCT
fsr-3489	693	1	that	that	PRON
fsr-3489	693	2	is	is	ADV
fsr-3489	693	3	,	,	PUNCT
fsr-3489	693	4	the	the	DET
fsr-3489	693	5	sector	sector	NOUN
fsr-3489	693	6	mfs	mfs	NOUN
fsr-3489	693	7	do	do	AUX
fsr-3489	693	8	not	not	PART
fsr-3489	693	9	underperform	underperform	NOUN
fsr-3489	693	10	spy	spy	NOUN
fsr-3489	693	11	or	or	CCONJ
fsr-3489	693	12	peer	peer	NOUN
fsr-3489	693	13	etfs	etfs	NOUN
fsr-3489	693	14	measured	measure	VERB
fsr-3489	693	15	by	by	ADP
fsr-3489	693	16	!	!	PUNCT
fsr-3489	693	17	.	.	PUNCT
fsr-3489	694	1	the	the	DET
fsr-3489	694	2	materials	material	NOUN
fsr-3489	694	3	and	and	CCONJ
fsr-3489	694	4	the	the	DET
fsr-3489	694	5	technology	technology	NOUN
fsr-3489	694	6	sector	sector	NOUN
fsr-3489	694	7	mf	mf	NOUN
fsr-3489	694	8	stand	stand	VERB
fsr-3489	694	9	out	out	ADP
fsr-3489	694	10	in	in	ADP
fsr-3489	694	11	the	the	DET
fsr-3489	694	12	analysis	analysis	NOUN
fsr-3489	694	13	.	.	PUNCT
fsr-3489	695	1	the	the	DET
fsr-3489	695	2	materials	material	NOUN
fsr-3489	695	3	mf	mf	VERB
fsr-3489	695	4	beats	beat	VERB
fsr-3489	695	5	its	its	PRON
fsr-3489	695	6	peer	peer	NOUN
fsr-3489	695	7	etf	etf	NOUN
fsr-3489	695	8	and	and	CCONJ
fsr-3489	695	9	spy	spy	NOUN
fsr-3489	695	10	across	across	ADP
fsr-3489	695	11	the	the	DET
fsr-3489	695	12	board	board	NOUN
fsr-3489	695	13	for	for	ADP
fsr-3489	695	14	the	the	DET
fsr-3489	695	15	full	full	ADJ
fsr-3489	695	16	sample	sample	NOUN
fsr-3489	695	17	period	period	NOUN
fsr-3489	695	18	:	:	PUNCT
fsr-3489	695	19	second	second	ADV
fsr-3489	695	20	highest	high	ADJ
fsr-3489	695	21	12	12	NUM
fsr-3489	695	22	-	-	PUNCT
fsr-3489	695	23	year	year	NOUN
fsr-3489	695	24	return	return	NOUN
fsr-3489	695	25	,	,	PUNCT
fsr-3489	695	26	highest	high	ADJ
fsr-3489	695	27	sharpe	sharpe	NOUN
fsr-3489	695	28	ratio	ratio	NOUN
fsr-3489	695	29	,	,	PUNCT
fsr-3489	695	30	and	and	CCONJ
fsr-3489	695	31	significant	significant	ADJ
fsr-3489	695	32	positive	positive	ADJ
fsr-3489	695	33	!	!	PUNCT
fsr-3489	696	1	s	s	PART
fsr-3489	696	2	in	in	ADP
fsr-3489	696	3	all	all	DET
fsr-3489	696	4	four	four	NUM
fsr-3489	696	5	regression	regression	NOUN
fsr-3489	696	6	models	model	NOUN
fsr-3489	696	7	.	.	PUNCT
fsr-3489	697	1	the	the	DET
fsr-3489	697	2	annualized	annualize	VERB
fsr-3489	697	3	abnormal	abnormal	ADJ
fsr-3489	697	4	return	return	NOUN
fsr-3489	697	5	of	of	ADP
fsr-3489	697	6	the	the	DET
fsr-3489	697	7	materials	material	NOUN
fsr-3489	697	8	sector	sector	NOUN
fsr-3489	697	9	mf	mf	NOUN
fsr-3489	697	10	is	be	AUX
fsr-3489	697	11	11.856	11.856	NUM
fsr-3489	697	12	%	%	NOUN
fsr-3489	697	13	,	,	PUNCT
fsr-3489	697	14	8.628	8.628	NUM
fsr-3489	697	15	%	%	NOUN
fsr-3489	697	16	,	,	PUNCT
fsr-3489	697	17	and	and	CCONJ
fsr-3489	697	18	8.472	8.472	NUM
fsr-3489	697	19	%	%	NOUN
fsr-3489	697	20	against	against	ADP
fsr-3489	697	21	spy	spy	NOUN
fsr-3489	697	22	and	and	CCONJ
fsr-3489	697	23	6.072	6.072	NUM
fsr-3489	697	24	%	%	NOUN
fsr-3489	697	25	against	against	ADP
fsr-3489	697	26	xlb	xlb	PROPN
fsr-3489	697	27	using	use	VERB
fsr-3489	697	28	factor	factor	NOUN
fsr-3489	697	29	models	model	NOUN
fsr-3489	697	30	.	.	PUNCT
fsr-3489	698	1	the	the	DET
fsr-3489	698	2	technology	technology	NOUN
fsr-3489	698	3	mf	mf	VERB
fsr-3489	698	4	also	also	ADV
fsr-3489	698	5	beats	beat	VERB
fsr-3489	698	6	both	both	DET
fsr-3489	698	7	spy	spy	NOUN
fsr-3489	698	8	and	and	CCONJ
fsr-3489	698	9	peer	peer	NOUN
fsr-3489	698	10	etfs	etfs	NOUN
fsr-3489	698	11	on	on	ADP
fsr-3489	698	12	12	12	NUM
fsr-3489	698	13	-	-	PUNCT
fsr-3489	698	14	year	year	NOUN
fsr-3489	698	15	return	return	NOUN
fsr-3489	698	16	,	,	PUNCT
fsr-3489	698	17	sharpe	sharpe	NOUN
fsr-3489	698	18	ratio	ratio	NOUN
fsr-3489	698	19	,	,	PUNCT
fsr-3489	698	20	and	and	CCONJ
fsr-3489	698	21	most	most	ADJ
fsr-3489	698	22	regression	regression	NOUN
fsr-3489	698	23	-	-	PUNCT
fsr-3489	698	24	based	base	VERB
fsr-3489	698	25	measures	measure	NOUN
fsr-3489	698	26	.	.	PUNCT
fsr-3489	699	1	it	it	PRON
fsr-3489	699	2	generates	generate	VERB
fsr-3489	699	3	annualized	annualize	VERB
fsr-3489	699	4	abnormal	abnormal	ADJ
fsr-3489	699	5	return	return	NOUN
fsr-3489	699	6	of	of	ADP
fsr-3489	699	7	7.368	7.368	NUM
fsr-3489	699	8	%	%	NOUN
fsr-3489	699	9	and	and	CCONJ
fsr-3489	699	10	7.320	7.320	NUM
fsr-3489	699	11	%	%	NOUN
fsr-3489	699	12	against	against	ADP
fsr-3489	699	13	spy	spy	NOUN
fsr-3489	699	14	using	use	VERB
fsr-3489	699	15	the	the	DET
fsr-3489	699	16	three	three	NUM
fsr-3489	699	17	-	-	PUNCT
fsr-3489	699	18	factor	factor	NOUN
fsr-3489	699	19	and	and	CCONJ
fsr-3489	699	20	four	four	NUM
fsr-3489	699	21	-	-	PUNCT
fsr-3489	699	22	factor	factor	NOUN
fsr-3489	699	23	models	model	NOUN
fsr-3489	699	24	,	,	PUNCT
fsr-3489	699	25	and	and	CCONJ
fsr-3489	699	26	8.268	8.268	NUM
fsr-3489	699	27	%	%	NOUN
fsr-3489	699	28	against	against	ADP
fsr-3489	699	29	xlk	xlk	PROPN
fsr-3489	699	30	.	.	PUNCT
fsr-3489	700	1	the	the	DET
fsr-3489	700	2	energy	energy	NOUN
fsr-3489	700	3	mf	mf	VERB
fsr-3489	700	4	outperforms	outperform	NOUN
fsr-3489	700	5	on	on	ADP
fsr-3489	700	6	12	12	NUM
fsr-3489	700	7	-	-	PUNCT
fsr-3489	700	8	year	year	NOUN
fsr-3489	700	9	return	return	NOUN
fsr-3489	700	10	,	,	PUNCT
fsr-3489	700	11	sharpe	sharpe	NOUN
fsr-3489	700	12	ratio	ratio	NOUN
fsr-3489	700	13	,	,	PUNCT
fsr-3489	700	14	and	and	CCONJ
fsr-3489	700	15	one	one	NUM
fsr-3489	700	16	-	-	PUNCT
fsr-3489	700	17	factor	factor	NOUN
fsr-3489	700	18	model	model	NOUN
fsr-3489	700	19	against	against	ADP
fsr-3489	700	20	spy	spy	NOUN
fsr-3489	700	21	with	with	ADP
fsr-3489	700	22	an	an	DET
fsr-3489	700	23	annualized	annualize	VERB
fsr-3489	700	24	abnormal	abnormal	ADJ
fsr-3489	700	25	return	return	NOUN
fsr-3489	700	26	of	of	ADP
fsr-3489	700	27	12.768	12.768	NUM
fsr-3489	700	28	%	%	NOUN
fsr-3489	700	29	.	.	PUNCT
fsr-3489	701	1	the	the	DET
fsr-3489	701	2	industrials	industrial	NOUN
fsr-3489	701	3	mf	mf	VERB
fsr-3489	701	4	outperforms	outperform	NOUN
fsr-3489	701	5	on	on	ADP
fsr-3489	701	6	12	12	NUM
fsr-3489	701	7	-	-	PUNCT
fsr-3489	701	8	year	year	NOUN
fsr-3489	701	9	return	return	NOUN
fsr-3489	701	10	,	,	PUNCT
fsr-3489	701	11	sharpe	sharpe	NOUN
fsr-3489	701	12	ratio	ratio	NOUN
fsr-3489	701	13	,	,	PUNCT
fsr-3489	701	14	and	and	CCONJ
fsr-3489	701	15	one	one	NUM
fsr-3489	701	16	-	-	PUNCT
fsr-3489	701	17	factor	factor	NOUN
fsr-3489	701	18	model	model	NOUN
fsr-3489	701	19	against	against	ADP
fsr-3489	701	20	xli	xli	PROPN
fsr-3489	701	21	with	with	ADP
fsr-3489	701	22	an	an	DET
fsr-3489	701	23	annualized	annualize	VERB
fsr-3489	701	24	abnormal	abnormal	ADJ
fsr-3489	701	25	return	return	NOUN
fsr-3489	701	26	of	of	ADP
fsr-3489	701	27	5.352	5.352	NUM
fsr-3489	701	28	%	%	NOUN
fsr-3489	701	29	.	.	PUNCT
fsr-3489	702	1	the	the	DET
fsr-3489	702	2	utilities	utility	NOUN
fsr-3489	702	3	and	and	CCONJ
fsr-3489	702	4	consumer	consumer	NOUN
fsr-3489	702	5	discretionary	discretionary	ADJ
fsr-3489	702	6	mf	mf	NOUN
fsr-3489	702	7	have	have	VERB
fsr-3489	702	8	the	the	DET
fsr-3489	702	9	weakest	weak	ADJ
fsr-3489	702	10	results	result	NOUN
fsr-3489	702	11	.	.	PUNCT
fsr-3489	703	1	they	they	PRON
fsr-3489	703	2	do	do	AUX
fsr-3489	703	3	not	not	PART
fsr-3489	703	4	beat	beat	VERB
fsr-3489	703	5	their	their	PRON
fsr-3489	703	6	peer	peer	NOUN
fsr-3489	703	7	etfs	etfs	NOUN
fsr-3489	703	8	measured	measure	VERB
fsr-3489	703	9	by	by	ADP
fsr-3489	703	10	12	12	NUM
fsr-3489	703	11	-	-	PUNCT
fsr-3489	703	12	year	year	NOUN
fsr-3489	703	13	return	return	NOUN
fsr-3489	703	14	and	and	CCONJ
fsr-3489	703	15	sharpe	sharpe	NOUN
fsr-3489	703	16	ratio	ratio	NOUN
fsr-3489	703	17	,	,	PUNCT
fsr-3489	703	18	however	however	ADV
fsr-3489	703	19	,	,	PUNCT
fsr-3489	703	20	they	they	PRON
fsr-3489	703	21	do	do	AUX
fsr-3489	703	22	not	not	PART
fsr-3489	703	23	underperform	underperform	VERB
fsr-3489	703	24	when	when	SCONJ
fsr-3489	703	25	asset	asset	NOUN
fsr-3489	703	26	pricing	pricing	NOUN
fsr-3489	703	27	models	model	NOUN
fsr-3489	703	28	are	be	AUX
fsr-3489	703	29	adopted	adopt	VERB
fsr-3489	703	30	.	.	PUNCT
fsr-3489	704	1	many	many	ADJ
fsr-3489	704	2	researches	research	NOUN
fsr-3489	704	3	have	have	AUX
fsr-3489	704	4	showed	show	VERB
fsr-3489	704	5	that	that	SCONJ
fsr-3489	704	6	on	on	ADP
fsr-3489	704	7	average	average	ADJ
fsr-3489	704	8	active	active	ADJ
fsr-3489	704	9	managers	manager	NOUN
fsr-3489	704	10	do	do	AUX
fsr-3489	704	11	not	not	PART
fsr-3489	704	12	add	add	VERB
fsr-3489	704	13	value	value	NOUN
fsr-3489	704	14	after	after	ADP
fsr-3489	704	15	fees	fee	NOUN
fsr-3489	704	16	and	and	CCONJ
fsr-3489	704	17	expenses	expense	NOUN
fsr-3489	704	18	(	(	PUNCT
fsr-3489	704	19	e.g.	e.g.	ADV
fsr-3489	704	20	,	,	PUNCT
fsr-3489	704	21	barras	barra	NOUN
fsr-3489	704	22	,	,	PUNCT
fsr-3489	704	23	scaillet	scaillet	NOUN
fsr-3489	704	24	,	,	PUNCT
fsr-3489	704	25	and	and	CCONJ
fsr-3489	704	26	wermers	wermer	NOUN
fsr-3489	704	27	2010	2010	NUM
fsr-3489	704	28	)	)	PUNCT
fsr-3489	704	29	.	.	PUNCT
fsr-3489	705	1	some	some	PRON
fsr-3489	705	2	argue	argue	VERB
fsr-3489	705	3	that	that	SCONJ
fsr-3489	705	4	the	the	DET
fsr-3489	705	5	value	value	NOUN
fsr-3489	705	6	of	of	ADP
fsr-3489	705	7	active	active	ADJ
fsr-3489	705	8	management	management	NOUN
fsr-3489	705	9	lies	lie	VERB
fsr-3489	705	10	in	in	ADP
fsr-3489	705	11	making	make	VERB
fsr-3489	705	12	market	market	NOUN
fsr-3489	705	13	more	more	ADV
fsr-3489	705	14	efficient	efficient	ADJ
fsr-3489	705	15	by	by	ADP
fsr-3489	705	16	improving	improve	VERB
fsr-3489	705	17	asset	asset	NOUN
fsr-3489	705	18	allocation	allocation	NOUN
fsr-3489	705	19	(	(	PUNCT
fsr-3489	705	20	jones	jones	PROPN
fsr-3489	705	21	and	and	CCONJ
fsr-3489	705	22	wermers	wermer	NOUN
fsr-3489	705	23	2011	2011	NUM
fsr-3489	705	24	)	)	PUNCT
fsr-3489	705	25	.	.	PUNCT
fsr-3489	706	1	xiong	xiong	PROPN
fsr-3489	706	2	et	et	PROPN
fsr-3489	706	3	al	al	PROPN
fsr-3489	706	4	.	.	PROPN
fsr-3489	707	1	(	(	PUNCT
fsr-3489	707	2	2010	2010	NUM
fsr-3489	707	3	)	)	PUNCT
fsr-3489	707	4	document	document	NOUN
fsr-3489	707	5	that	that	PRON
fsr-3489	707	6	both	both	DET
fsr-3489	707	7	asset	asset	NOUN
fsr-3489	707	8	allocation	allocation	NOUN
fsr-3489	707	9	and	and	CCONJ
fsr-3489	707	10	active	active	ADJ
fsr-3489	707	11	management	management	NOUN
fsr-3489	707	12	are	be	AUX
fsr-3489	707	13	critical	critical	ADJ
fsr-3489	707	14	to	to	ADP
fsr-3489	707	15	performance	performance	NOUN
fsr-3489	707	16	.	.	PUNCT
fsr-3489	708	1	the	the	DET
fsr-3489	708	2	need	need	NOUN
fsr-3489	708	3	for	for	ADP
fsr-3489	708	4	active	active	ADJ
fsr-3489	708	5	managers	manager	NOUN
fsr-3489	708	6	to	to	PART
fsr-3489	708	7	set	set	VERB
fsr-3489	708	8	the	the	DET
fsr-3489	708	9	price	price	NOUN
fsr-3489	708	10	was	be	AUX
fsr-3489	708	11	emphasized	emphasize	VERB
fsr-3489	708	12	by	by	ADP
fsr-3489	708	13	a	a	DET
fsr-3489	708	14	large	large	ADJ
fsr-3489	708	15	index	index	NOUN
fsr-3489	708	16	fund	fund	NOUN
fsr-3489	708	17	manager	manager	NOUN
fsr-3489	708	18	:	:	PUNCT
fsr-3489	708	19	“	"	PUNCT
fsr-3489	708	20	passive	passive	ADJ
fsr-3489	708	21	management	management	NOUN
fsr-3489	708	22	is	be	AUX
fsr-3489	708	23	a	a	DET
fsr-3489	708	24	free	free	ADJ
fsr-3489	708	25	-	-	PUNCT
fsr-3489	708	26	ride	ride	NOUN
fsr-3489	708	27	strategy	strategy	NOUN
fsr-3489	708	28	;	;	PUNCT
fsr-3489	708	29	it	it	PRON
fsr-3489	708	30	piggybacks	piggyback	VERB
fsr-3489	708	31	on	on	ADP
fsr-3489	708	32	active	active	ADJ
fsr-3489	708	33	management	management	NOUN
fsr-3489	708	34	.	.	PUNCT
fsr-3489	709	1	you	you	PRON
fsr-3489	709	2	need	need	VERB
fsr-3489	709	3	to	to	PART
fsr-3489	709	4	have	have	VERB
fsr-3489	709	5	active	active	ADJ
fsr-3489	709	6	managers	manager	NOUN
fsr-3489	709	7	out	out	ADV
fsr-3489	709	8	there	there	ADV
fsr-3489	709	9	,	,	PUNCT
fsr-3489	709	10	and	and	CCONJ
fsr-3489	709	11	they	they	PRON
fsr-3489	709	12	need	need	VERB
fsr-3489	709	13	to	to	PART
fsr-3489	709	14	be	be	AUX
fsr-3489	709	15	paid	pay	VERB
fsr-3489	709	16	.	.	PUNCT
fsr-3489	710	1	”17	”17	PROPN
fsr-3489	710	2	this	this	DET
fsr-3489	710	3	article	article	NOUN
fsr-3489	710	4	,	,	PUNCT
fsr-3489	710	5	however	however	ADV
fsr-3489	710	6	,	,	PUNCT
fsr-3489	710	7	presents	present	VERB
fsr-3489	710	8	evidence	evidence	NOUN
fsr-3489	710	9	on	on	ADP
fsr-3489	710	10	outperformance	outperformance	NOUN
fsr-3489	710	11	of	of	ADP
fsr-3489	710	12	equity	equity	NOUN
fsr-3489	710	13	sector	sector	NOUN
fsr-3489	710	14	funds	fund	NOUN
fsr-3489	710	15	.	.	PUNCT
fsr-3489	711	1	if	if	SCONJ
fsr-3489	711	2	one	one	PRON
fsr-3489	711	3	considers	consider	VERB
fsr-3489	711	4	active	active	ADJ
fsr-3489	711	5	managers	manager	NOUN
fsr-3489	711	6	together	together	ADV
fsr-3489	711	7	are	be	AUX
fsr-3489	711	8	playing	play	VERB
fsr-3489	711	9	a	a	DET
fsr-3489	711	10	zero	zero	NUM
fsr-3489	711	11	-	-	PUNCT
fsr-3489	711	12	sum	sum	NOUN
fsr-3489	711	13	game	game	NOUN
fsr-3489	711	14	,	,	PUNCT
fsr-3489	711	15	this	this	DET
fsr-3489	711	16	study	study	NOUN
fsr-3489	711	17	finds	find	VERB
fsr-3489	711	18	some	some	PRON
fsr-3489	711	19	of	of	ADP
fsr-3489	711	20	the	the	DET
fsr-3489	711	21	winners	winner	NOUN
fsr-3489	711	22	.	.	PUNCT
fsr-3489	712	1	for	for	ADP
fsr-3489	712	2	individual	individual	ADJ
fsr-3489	712	3	investors	investor	NOUN
fsr-3489	712	4	who	who	PRON
fsr-3489	712	5	are	be	AUX
fsr-3489	712	6	interested	interested	ADJ
fsr-3489	712	7	in	in	ADP
fsr-3489	712	8	sector	sector	NOUN
fsr-3489	712	9	investing	investing	NOUN
fsr-3489	712	10	,	,	PUNCT
fsr-3489	712	11	this	this	DET
fsr-3489	712	12	study	study	NOUN
fsr-3489	712	13	shows	show	VERB
fsr-3489	712	14	that	that	SCONJ
fsr-3489	712	15	actively	actively	ADV
fsr-3489	712	16	managed	manage	VERB
fsr-3489	712	17	mutual	mutual	ADJ
fsr-3489	712	18	funds	fund	NOUN
fsr-3489	712	19	can	can	AUX
fsr-3489	712	20	be	be	AUX
fsr-3489	712	21	a	a	DET
fsr-3489	712	22	good	good	ADJ
fsr-3489	712	23	candidate	candidate	NOUN
fsr-3489	712	24	for	for	ADP
fsr-3489	712	25	sector	sector	NOUN
fsr-3489	712	26	allocation	allocation	NOUN
fsr-3489	712	27	.	.	PUNCT
fsr-3489	713	1	most	most	ADJ
fsr-3489	713	2	of	of	ADP
fsr-3489	713	3	these	these	DET
fsr-3489	713	4	mutual	mutual	ADJ
fsr-3489	713	5	funds	fund	NOUN
fsr-3489	713	6	do	do	VERB
fsr-3489	713	7	a	a	DET
fsr-3489	713	8	better	well	ADJ
fsr-3489	713	9	or	or	CCONJ
fsr-3489	713	10	equivalent	equivalent	ADJ
fsr-3489	713	11	job	job	NOUN
fsr-3489	713	12	measured	measure	VERB
fsr-3489	713	13	by	by	ADP
fsr-3489	713	14	both	both	DET
fsr-3489	713	15	nominal	nominal	ADJ
fsr-3489	713	16	return	return	NOUN
fsr-3489	713	17	and	and	CCONJ
fsr-3489	713	18	total/	total/	NUM
fsr-3489	713	19	systematic	systematic	ADJ
fsr-3489	713	20	risk	risk	NOUN
fsr-3489	713	21	adjusted	adjust	VERB
fsr-3489	713	22	return	return	NOUN
fsr-3489	713	23	,	,	PUNCT
fsr-3489	713	24	after	after	ADP
fsr-3489	713	25	higher	high	ADJ
fsr-3489	713	26	expenses	expense	NOUN
fsr-3489	713	27	and	and	CCONJ
fsr-3489	713	28	fees	fee	NOUN
fsr-3489	713	29	.	.	PUNCT
fsr-3489	714	1	the	the	DET
fsr-3489	714	2	bottom	bottom	ADJ
fsr-3489	714	3	line	line	NOUN
fsr-3489	714	4	is	be	AUX
fsr-3489	714	5	that	that	SCONJ
fsr-3489	714	6	they	they	PRON
fsr-3489	714	7	do	do	AUX
fsr-3489	714	8	not	not	PART
fsr-3489	714	9	underperform	underperform	VERB
fsr-3489	714	10	when	when	SCONJ
fsr-3489	714	11	measured	measure	VERB
fsr-3489	714	12	with	with	ADP
fsr-3489	714	13	!	!	PUNCT
fsr-3489	715	1	from	from	ADP
fsr-3489	715	2	asset	asset	NOUN
fsr-3489	715	3	pricing	pricing	NOUN
fsr-3489	715	4	models	model	NOUN
fsr-3489	715	5	,	,	PUNCT
fsr-3489	715	6	at	at	ADP
fsr-3489	715	7	least	least	ADJ
fsr-3489	715	8	during	during	ADP
fsr-3489	715	9	the	the	DET
fsr-3489	715	10	sample	sample	NOUN
fsr-3489	715	11	period	period	NOUN
fsr-3489	715	12	.	.	PUNCT
fsr-3489	716	1	this	this	DET
fsr-3489	716	2	study	study	NOUN
fsr-3489	716	3	also	also	ADV
fsr-3489	716	4	provides	provide	VERB
fsr-3489	716	5	evidence	evidence	NOUN
fsr-3489	716	6	for	for	ADP
fsr-3489	716	7	financial	financial	ADJ
fsr-3489	716	8	planners	planner	NOUN
fsr-3489	716	9	when	when	SCONJ
fsr-3489	716	10	they	they	PRON
fsr-3489	716	11	help	help	VERB
fsr-3489	716	12	their	their	PRON
fsr-3489	716	13	269c.y	269c.y	NOUN
fsr-3489	716	14	.	.	PUNCT
fsr-3489	717	1	lin	lin	PROPN
fsr-3489	717	2	/	/	SYM
fsr-3489	717	3	financial	financial	ADJ
fsr-3489	717	4	services	service	NOUN
fsr-3489	717	5	review	review	VERB
fsr-3489	717	6	23	23	NUM
fsr-3489	717	7	(	(	PUNCT
fsr-3489	717	8	2014	2014	NUM
fsr-3489	717	9	)	)	PUNCT
fsr-3489	718	1	249–271	249–271	NUM
fsr-3489	718	2	clients	client	NOUN
fsr-3489	718	3	select	select	VERB
fsr-3489	718	4	mutual	mutual	ADJ
fsr-3489	718	5	funds	fund	NOUN
fsr-3489	718	6	.	.	PUNCT
fsr-3489	719	1	it	it	PRON
fsr-3489	719	2	may	may	AUX
fsr-3489	719	3	be	be	AUX
fsr-3489	719	4	appropriate	appropriate	ADJ
fsr-3489	719	5	for	for	SCONJ
fsr-3489	719	6	financial	financial	ADJ
fsr-3489	719	7	planners	planner	NOUN
fsr-3489	719	8	to	to	PART
fsr-3489	719	9	recommend	recommend	VERB
fsr-3489	719	10	sector	sector	NOUN
fsr-3489	719	11	mutual	mutual	ADJ
fsr-3489	719	12	funds	fund	NOUN
fsr-3489	719	13	to	to	ADP
fsr-3489	719	14	their	their	PRON
fsr-3489	719	15	clients	client	NOUN
fsr-3489	719	16	who	who	PRON
fsr-3489	719	17	have	have	VERB
fsr-3489	719	18	risk	risk	NOUN
fsr-3489	719	19	appetite	appetite	NOUN
fsr-3489	719	20	for	for	ADP
fsr-3489	719	21	sector	sector	NOUN
fsr-3489	719	22	investing	investing	NOUN
fsr-3489	719	23	.	.	PUNCT
fsr-3489	720	1	notes	note	VERB
fsr-3489	720	2	1	1	NUM
fsr-3489	720	3	most	most	ADJ
fsr-3489	720	4	etfs	etfs	NOUN
fsr-3489	720	5	,	,	PUNCT
fsr-3489	720	6	although	although	SCONJ
fsr-3489	720	7	not	not	PART
fsr-3489	720	8	all	all	PRON
fsr-3489	720	9	,	,	PUNCT
fsr-3489	720	10	are	be	AUX
fsr-3489	720	11	passively	passively	ADV
fsr-3489	720	12	managed	manage	VERB
fsr-3489	720	13	to	to	PART
fsr-3489	720	14	track	track	VERB
fsr-3489	720	15	a	a	DET
fsr-3489	720	16	specific	specific	ADJ
fsr-3489	720	17	index	index	NOUN
fsr-3489	720	18	,	,	PUNCT
fsr-3489	720	19	such	such	ADJ
fsr-3489	720	20	as	as	ADP
fsr-3489	720	21	the	the	DET
fsr-3489	720	22	s&p	s&p	PROPN
fsr-3489	720	23	500	500	NUM
fsr-3489	720	24	.	.	PUNCT
fsr-3489	721	1	2	2	NUM
fsr-3489	721	2	https://www.fidelity.com/.	https://www.fidelity.com/.	NOUN
fsr-3489	721	3	3	3	NUM
fsr-3489	721	4	because	because	SCONJ
fsr-3489	721	5	telecommunication	telecommunication	NOUN
fsr-3489	721	6	stocks	stock	NOUN
fsr-3489	721	7	are	be	AUX
fsr-3489	721	8	covered	cover	VERB
fsr-3489	721	9	in	in	ADP
fsr-3489	721	10	the	the	DET
fsr-3489	721	11	technology	technology	NOUN
fsr-3489	721	12	select	select	ADJ
fsr-3489	721	13	sector	sector	NOUN
fsr-3489	721	14	spdr	spdr	NOUN
fsr-3489	721	15	fund	fund	PROPN
fsr-3489	721	16	,	,	PUNCT
fsr-3489	721	17	i	i	PRON
fsr-3489	721	18	do	do	AUX
fsr-3489	721	19	not	not	PART
fsr-3489	721	20	consider	consider	VERB
fsr-3489	721	21	telecommunication	telecommunication	NOUN
fsr-3489	721	22	a	a	DET
fsr-3489	721	23	separate	separate	ADJ
fsr-3489	721	24	sector	sector	NOUN
fsr-3489	721	25	.	.	PUNCT
fsr-3489	722	1	4	4	NUM
fsr-3489	722	2	fidelity	fidelity	PROPN
fsr-3489	722	3	select	select	ADJ
fsr-3489	722	4	portfolio	portfolio	NOUN
fsr-3489	722	5	annual	annual	ADJ
fsr-3489	722	6	report	report	NOUN
fsr-3489	722	7	,	,	PUNCT
fsr-3489	722	8	february	february	PROPN
fsr-3489	722	9	29	29	NUM
fsr-3489	722	10	,	,	PUNCT
fsr-3489	722	11	2012	2012	NUM
fsr-3489	722	12	.	.	PUNCT
fsr-3489	723	1	5	5	NUM
fsr-3489	723	2	fidelity	fidelity	PROPN
fsr-3489	723	3	select	select	ADJ
fsr-3489	723	4	portfolio	portfolio	NOUN
fsr-3489	723	5	prospectuses	prospectus	NOUN
fsr-3489	723	6	.	.	PUNCT
fsr-3489	724	1	6	6	NUM
fsr-3489	724	2	however	however	ADV
fsr-3489	724	3	,	,	PUNCT
fsr-3489	724	4	all	all	DET
fsr-3489	724	5	nine	nine	NUM
fsr-3489	724	6	select	select	ADJ
fsr-3489	724	7	sector	sector	NOUN
fsr-3489	724	8	spdrs	spdr	NOUN
fsr-3489	724	9	are	be	AUX
fsr-3489	724	10	diversified	diversified	ADJ
fsr-3489	724	11	funds	fund	NOUN
fsr-3489	724	12	with	with	ADP
fsr-3489	724	13	respect	respect	NOUN
fsr-3489	724	14	to	to	ADP
fsr-3489	724	15	the	the	DET
fsr-3489	724	16	internal	internal	ADJ
fsr-3489	724	17	revenue	revenue	NOUN
fsr-3489	724	18	code	code	NOUN
fsr-3489	724	19	.	.	PUNCT
fsr-3489	725	1	as	as	ADP
fsr-3489	725	2	a	a	DET
fsr-3489	725	3	result	result	NOUN
fsr-3489	725	4	,	,	PUNCT
fsr-3489	725	5	each	each	DET
fsr-3489	725	6	sector	sector	NOUN
fsr-3489	725	7	index	index	NOUN
fsr-3489	725	8	is	be	AUX
fsr-3489	725	9	modified	modify	VERB
fsr-3489	725	10	so	so	SCONJ
fsr-3489	725	11	that	that	SCONJ
fsr-3489	725	12	an	an	DET
fsr-3489	725	13	individual	individual	ADJ
fsr-3489	725	14	security	security	NOUN
fsr-3489	725	15	does	do	AUX
fsr-3489	725	16	not	not	PART
fsr-3489	725	17	comprise	comprise	VERB
fsr-3489	725	18	more	more	ADJ
fsr-3489	725	19	than	than	ADP
fsr-3489	725	20	25	25	NUM
fsr-3489	725	21	%	%	NOUN
fsr-3489	725	22	of	of	ADP
fsr-3489	725	23	the	the	DET
fsr-3489	725	24	index	index	NOUN
fsr-3489	725	25	.	.	PUNCT
fsr-3489	726	1	source	source	NOUN
fsr-3489	726	2	:	:	PUNCT
fsr-3489	726	3	http://	http://	PROPN
fsr-3489	726	4	www.sectorspdr.com/.	www.sectorspdr.com/.	PROPN
fsr-3489	726	5	7	7	NUM
fsr-3489	726	6	select	select	ADJ
fsr-3489	726	7	sector	sector	NOUN
fsr-3489	726	8	spdrs	spdr	VERB
fsr-3489	726	9	annual	annual	ADJ
fsr-3489	726	10	report	report	NOUN
fsr-3489	726	11	,	,	PUNCT
fsr-3489	726	12	september	september	PROPN
fsr-3489	726	13	30	30	NUM
fsr-3489	726	14	,	,	PUNCT
fsr-3489	726	15	2011	2011	NUM
fsr-3489	726	16	.	.	PUNCT
fsr-3489	727	1	8	8	NUM
fsr-3489	727	2	spdr	spdr	PROPN
fsr-3489	727	3	s&p	s&p	PROPN
fsr-3489	727	4	500	500	NUM
fsr-3489	727	5	etf	etf	NOUN
fsr-3489	727	6	trust	trust	NOUN
fsr-3489	727	7	annual	annual	ADJ
fsr-3489	727	8	report	report	NOUN
fsr-3489	727	9	,	,	PUNCT
fsr-3489	727	10	september	september	PROPN
fsr-3489	727	11	30	30	NUM
fsr-3489	727	12	,	,	PUNCT
fsr-3489	727	13	2011	2011	NUM
fsr-3489	727	14	.	.	PUNCT
fsr-3489	728	1	9	9	NUM
fsr-3489	728	2	the	the	DET
fsr-3489	728	3	available	available	ADJ
fsr-3489	728	4	price	price	NOUN
fsr-3489	728	5	data	datum	NOUN
fsr-3489	728	6	for	for	ADP
fsr-3489	728	7	fidelity	fidelity	PROPN
fsr-3489	728	8	select	select	PROPN
fsr-3489	728	9	industrials	industrial	NOUN
fsr-3489	728	10	portfolio	portfolio	NOUN
fsr-3489	728	11	starts	start	VERB
fsr-3489	728	12	on	on	ADP
fsr-3489	728	13	july	july	PROPN
fsr-3489	728	14	8	8	NUM
fsr-3489	728	15	,	,	PUNCT
fsr-3489	728	16	1999	1999	NUM
fsr-3489	728	17	.	.	PUNCT
fsr-3489	729	1	10	10	NUM
fsr-3489	729	2	http://finance.yahoo.com/.	http://finance.yahoo.com/.	PROPN
fsr-3489	729	3	11	11	NUM
fsr-3489	729	4	subsample	subsample	ADJ
fsr-3489	729	5	period	period	NOUN
fsr-3489	729	6	results	result	NOUN
fsr-3489	729	7	are	be	AUX
fsr-3489	729	8	discussed	discuss	VERB
fsr-3489	729	9	but	but	CCONJ
fsr-3489	729	10	not	not	PART
fsr-3489	729	11	reported	report	VERB
fsr-3489	729	12	throughout	throughout	ADP
fsr-3489	729	13	the	the	DET
fsr-3489	729	14	article	article	NOUN
fsr-3489	729	15	.	.	PUNCT
fsr-3489	730	1	results	result	NOUN
fsr-3489	730	2	are	be	AUX
fsr-3489	730	3	available	available	ADJ
fsr-3489	730	4	upon	upon	SCONJ
fsr-3489	730	5	request	request	NOUN
fsr-3489	730	6	.	.	PUNCT
fsr-3489	731	1	12	12	NUM
fsr-3489	731	2	for	for	ADP
fsr-3489	731	3	example	example	NOUN
fsr-3489	731	4	,	,	PUNCT
fsr-3489	731	5	ross	ross	PROPN
fsr-3489	731	6	,	,	PUNCT
fsr-3489	731	7	westerfield	westerfield	PROPN
fsr-3489	731	8	,	,	PUNCT
fsr-3489	731	9	and	and	CCONJ
fsr-3489	731	10	jordan	jordan	PROPN
fsr-3489	731	11	,	,	PUNCT
fsr-3489	731	12	corporate	corporate	ADJ
fsr-3489	731	13	finance	finance	NOUN
fsr-3489	731	14	,	,	PUNCT
fsr-3489	731	15	9th	9th	ADJ
fsr-3489	731	16	ed	ed	NOUN
fsr-3489	731	17	.	.	PROPN
fsr-3489	731	18	,	,	PUNCT
fsr-3489	731	19	2010	2010	NUM
fsr-3489	731	20	,	,	PUNCT
fsr-3489	731	21	mcgraw	mcgraw	PROPN
fsr-3489	731	22	-	-	PUNCT
fsr-3489	731	23	hill	hill	NOUN
fsr-3489	731	24	.	.	PROPN
fsr-3489	732	1	13	13	NUM
fsr-3489	732	2	http://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html	http://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html	NOUN
fsr-3489	732	3	.	.	PUNCT
fsr-3489	733	1	14	14	NUM
fsr-3489	733	2	from	from	ADP
fsr-3489	733	3	fidelity	fidelity	NOUN
fsr-3489	733	4	and	and	CCONJ
fsr-3489	733	5	sector	sector	NOUN
fsr-3489	733	6	spider	spider	NOUN
fsr-3489	733	7	web	web	NOUN
fsr-3489	733	8	sites	site	NOUN
fsr-3489	733	9	.	.	PUNCT
fsr-3489	734	1	15	15	NUM
fsr-3489	734	2	british	british	ADJ
fsr-3489	734	3	american	american	PROPN
fsr-3489	734	4	tobacco	tobacco	PROPN
fsr-3489	734	5	plc	plc	PROPN
fsr-3489	734	6	adr	adr	PROPN
fsr-3489	734	7	represents	represent	VERB
fsr-3489	734	8	13.66	13.66	NUM
fsr-3489	734	9	%	%	NOUN
fsr-3489	734	10	of	of	ADP
fsr-3489	734	11	the	the	DET
fsr-3489	734	12	fidelity	fidelity	PROPN
fsr-3489	734	13	select	select	ADJ
fsr-3489	734	14	consumer	consumer	NOUN
fsr-3489	734	15	staples	staple	NOUN
fsr-3489	734	16	portfolio	portfolio	NOUN
fsr-3489	734	17	as	as	ADP
fsr-3489	734	18	of	of	ADP
fsr-3489	734	19	september	september	PROPN
fsr-3489	734	20	28	28	NUM
fsr-3489	734	21	,	,	PUNCT
fsr-3489	734	22	2012	2012	NUM
fsr-3489	734	23	.	.	PUNCT
fsr-3489	735	1	16	16	NUM
fsr-3489	735	2	eling	eling	PROPN
fsr-3489	735	3	(	(	PUNCT
fsr-3489	735	4	2008	2008	NUM
fsr-3489	735	5	)	)	PUNCT
fsr-3489	735	6	shows	show	VERB
fsr-3489	735	7	that	that	SCONJ
fsr-3489	735	8	choosing	choose	VERB
fsr-3489	735	9	a	a	DET
fsr-3489	735	10	performance	performance	NOUN
fsr-3489	735	11	measure	measure	NOUN
fsr-3489	735	12	is	be	AUX
fsr-3489	735	13	not	not	PART
fsr-3489	735	14	critical	critical	ADJ
fsr-3489	735	15	to	to	PART
fsr-3489	735	16	fund	fund	VERB
fsr-3489	735	17	evaluation	evaluation	NOUN
fsr-3489	735	18	and	and	CCONJ
fsr-3489	735	19	the	the	DET
fsr-3489	735	20	sharpe	sharpe	PROPN
fsr-3489	735	21	ratio	ratio	NOUN
fsr-3489	735	22	is	be	AUX
fsr-3489	735	23	generally	generally	ADV
fsr-3489	735	24	adequate	adequate	ADJ
fsr-3489	735	25	.	.	PUNCT
fsr-3489	736	1	17	17	NUM
fsr-3489	736	2	frank	frank	PROPN
fsr-3489	736	3	j.	j.	PROPN
fsr-3489	736	4	fabozzi	fabozzi	PROPN
fsr-3489	736	5	,	,	PUNCT
fsr-3489	736	6	sergio	sergio	PROPN
fsr-3489	736	7	m.	m.	PROPN
fsr-3489	736	8	focardi	focardi	PROPN
fsr-3489	736	9	,	,	PUNCT
fsr-3489	736	10	and	and	CCONJ
fsr-3489	736	11	caroline	caroline	PROPN
fsr-3489	736	12	jonas	jonas	PROPN
fsr-3489	736	13	,	,	PUNCT
fsr-3489	736	14	2010	2010	NUM
fsr-3489	736	15	,	,	PUNCT
fsr-3489	736	16	investment	investment	NOUN
fsr-3489	736	17	management	management	NOUN
fsr-3489	736	18	after	after	ADP
fsr-3489	736	19	global	global	ADJ
fsr-3489	736	20	financial	financial	ADJ
fsr-3489	736	21	crisis	crisis	NOUN
fsr-3489	736	22	,	,	PUNCT
fsr-3489	736	23	research	research	NOUN
fsr-3489	736	24	foundation	foundation	NOUN
fsr-3489	736	25	publications	publication	NOUN
fsr-3489	736	26	,	,	PUNCT
fsr-3489	736	27	cfa	cfa	PROPN
fsr-3489	736	28	institute	institute	PROPN
fsr-3489	736	29	,	,	PUNCT
fsr-3489	736	30	page	page	NOUN
fsr-3489	736	31	26	26	NUM
fsr-3489	736	32	.	.	PUNCT
fsr-3489	737	1	references	reference	NOUN
fsr-3489	737	2	barras	barras	PROPN
fsr-3489	737	3	,	,	PUNCT
fsr-3489	737	4	l.	l.	PROPN
fsr-3489	737	5	,	,	PUNCT
fsr-3489	737	6	scaillet	scaillet	NOUN
fsr-3489	737	7	,	,	PUNCT
fsr-3489	737	8	o.	o.	PROPN
fsr-3489	737	9	,	,	PUNCT
fsr-3489	737	10	&	&	CCONJ
fsr-3489	737	11	wermers	wermer	NOUN
fsr-3489	737	12	,	,	PUNCT
fsr-3489	737	13	r.	r.	PROPN
fsr-3489	737	14	(	(	PUNCT
fsr-3489	737	15	2010	2010	NUM
fsr-3489	737	16	)	)	PUNCT
fsr-3489	737	17	.	.	PUNCT
fsr-3489	738	1	false	false	ADJ
fsr-3489	738	2	discoveries	discovery	NOUN
fsr-3489	738	3	in	in	ADP
fsr-3489	738	4	mutual	mutual	ADJ
fsr-3489	738	5	fund	fund	NOUN
fsr-3489	738	6	performance	performance	NOUN
fsr-3489	738	7	:	:	PUNCT
fsr-3489	738	8	measuring	measure	VERB
fsr-3489	738	9	luck	luck	NOUN
fsr-3489	738	10	in	in	ADP
fsr-3489	738	11	estimated	estimate	VERB
fsr-3489	738	12	alphas	alpha	NOUN
fsr-3489	738	13	.	.	PUNCT
fsr-3489	739	1	journal	journal	PROPN
fsr-3489	739	2	of	of	ADP
fsr-3489	739	3	finance	finance	NOUN
fsr-3489	739	4	,	,	PUNCT
fsr-3489	739	5	65	65	NUM
fsr-3489	739	6	,	,	PUNCT
fsr-3489	739	7	179–216	179–216	NUM
fsr-3489	739	8	.	.	PUNCT
fsr-3489	740	1	carhart	carhart	NOUN
fsr-3489	740	2	,	,	PUNCT
fsr-3489	740	3	m.	m.	NOUN
fsr-3489	740	4	m.	m.	NOUN
fsr-3489	740	5	(	(	PUNCT
fsr-3489	740	6	1997	1997	NUM
fsr-3489	740	7	)	)	PUNCT
fsr-3489	740	8	.	.	PUNCT
fsr-3489	741	1	on	on	ADP
fsr-3489	741	2	persistence	persistence	NOUN
fsr-3489	741	3	in	in	ADP
fsr-3489	741	4	mutual	mutual	ADJ
fsr-3489	741	5	fund	fund	NOUN
fsr-3489	741	6	performance	performance	NOUN
fsr-3489	741	7	.	.	PUNCT
fsr-3489	742	1	journal	journal	PROPN
fsr-3489	742	2	of	of	ADP
fsr-3489	742	3	finance	finance	NOUN
fsr-3489	742	4	,	,	PUNCT
fsr-3489	742	5	52	52	NUM
fsr-3489	742	6	,	,	PUNCT
fsr-3489	742	7	57–82	57–82	NUM
fsr-3489	742	8	.	.	PUNCT
fsr-3489	742	9	dellva	dellva	PROPN
fsr-3489	742	10	,	,	PUNCT
fsr-3489	742	11	w.	w.	PROPN
fsr-3489	742	12	l.	l.	PROPN
fsr-3489	742	13	,	,	PUNCT
fsr-3489	742	14	demaskey	demaskey	PROPN
fsr-3489	742	15	,	,	PUNCT
fsr-3489	742	16	a.	a.	PROPN
fsr-3489	742	17	l.	l.	PROPN
fsr-3489	742	18	&	&	CCONJ
fsr-3489	742	19	smith	smith	PROPN
fsr-3489	742	20	,	,	PUNCT
fsr-3489	742	21	c.	c.	PROPN
fsr-3489	742	22	a.	a.	PROPN
fsr-3489	742	23	(	(	PUNCT
fsr-3489	742	24	2001	2001	NUM
fsr-3489	742	25	)	)	PUNCT
fsr-3489	742	26	.	.	PUNCT
fsr-3489	743	1	selectivity	selectivity	NOUN
fsr-3489	743	2	and	and	CCONJ
fsr-3489	743	3	market	market	NOUN
fsr-3489	743	4	timing	timing	NOUN
fsr-3489	743	5	performance	performance	NOUN
fsr-3489	743	6	of	of	ADP
fsr-3489	743	7	fidelity	fidelity	NOUN
fsr-3489	743	8	sector	sector	NOUN
fsr-3489	743	9	mutual	mutual	ADJ
fsr-3489	743	10	funds	fund	NOUN
fsr-3489	743	11	.	.	PUNCT
fsr-3489	744	1	financial	financial	ADJ
fsr-3489	744	2	review	review	PROPN
fsr-3489	744	3	,	,	PUNCT
fsr-3489	744	4	36	36	NUM
fsr-3489	744	5	,	,	PUNCT
fsr-3489	744	6	39–54	39–54	NUM
fsr-3489	744	7	.	.	PUNCT
fsr-3489	745	1	eling	eling	PROPN
fsr-3489	745	2	,	,	PUNCT
fsr-3489	745	3	m.	m.	NOUN
fsr-3489	745	4	(	(	PUNCT
fsr-3489	745	5	2008	2008	NUM
fsr-3489	745	6	)	)	PUNCT
fsr-3489	745	7	.	.	PUNCT
fsr-3489	746	1	does	do	AUX
fsr-3489	746	2	the	the	DET
fsr-3489	746	3	measure	measure	NOUN
fsr-3489	746	4	matter	matter	VERB
fsr-3489	746	5	in	in	ADP
fsr-3489	746	6	the	the	DET
fsr-3489	746	7	mutual	mutual	ADJ
fsr-3489	746	8	fund	fund	NOUN
fsr-3489	746	9	industry	industry	NOUN
fsr-3489	746	10	?	?	PUNCT
fsr-3489	747	1	financial	financial	ADJ
fsr-3489	747	2	analysts	analyst	NOUN
fsr-3489	747	3	journal	journal	NOUN
fsr-3489	747	4	,	,	PUNCT
fsr-3489	747	5	64	64	NUM
fsr-3489	747	6	,	,	PUNCT
fsr-3489	747	7	54–66	54–66	NUM
fsr-3489	747	8	.	.	PUNCT
fsr-3489	748	1	elton	elton	PROPN
fsr-3489	748	2	,	,	PUNCT
fsr-3489	748	3	e.	e.	PROPN
fsr-3489	748	4	j.	j.	PROPN
fsr-3489	748	5	,	,	PUNCT
fsr-3489	748	6	gruber	gruber	PROPN
fsr-3489	748	7	,	,	PUNCT
fsr-3489	748	8	m.	m.	NOUN
fsr-3489	748	9	j.	j.	PROPN
fsr-3489	748	10	green	green	PROPN
fsr-3489	748	11	,	,	PUNCT
fsr-3489	748	12	c.	c.	PROPN
fsr-3489	748	13	(	(	PUNCT
fsr-3489	748	14	2007	2007	NUM
fsr-3489	748	15	)	)	PUNCT
fsr-3489	748	16	.	.	PUNCT
fsr-3489	749	1	the	the	DET
fsr-3489	749	2	impact	impact	NOUN
fsr-3489	749	3	of	of	ADP
fsr-3489	749	4	mutual	mutual	ADJ
fsr-3489	749	5	fund	fund	NOUN
fsr-3489	749	6	family	family	NOUN
fsr-3489	749	7	membership	membership	NOUN
fsr-3489	749	8	on	on	ADP
fsr-3489	749	9	investor	investor	NOUN
fsr-3489	749	10	risk	risk	NOUN
fsr-3489	749	11	.	.	PUNCT
fsr-3489	750	1	journal	journal	NOUN
fsr-3489	750	2	of	of	ADP
fsr-3489	750	3	financial	financial	ADJ
fsr-3489	750	4	and	and	CCONJ
fsr-3489	750	5	quantitative	quantitative	ADJ
fsr-3489	750	6	analysis	analysis	NOUN
fsr-3489	750	7	,	,	PUNCT
fsr-3489	750	8	42	42	NUM
fsr-3489	750	9	,	,	PUNCT
fsr-3489	750	10	257–277	257–277	NUM
fsr-3489	750	11	.	.	PUNCT
fsr-3489	751	1	270	270	NUM
fsr-3489	751	2	c.y	c.y	PROPN
fsr-3489	751	3	.	.	PROPN
fsr-3489	751	4	lin	lin	PROPN
fsr-3489	751	5	/	/	SYM
fsr-3489	751	6	financial	financial	ADJ
fsr-3489	751	7	services	service	NOUN
fsr-3489	751	8	review	review	VERB
fsr-3489	751	9	23	23	NUM
fsr-3489	751	10	(	(	PUNCT
fsr-3489	751	11	2014	2014	NUM
fsr-3489	751	12	)	)	PUNCT
fsr-3489	752	1	249–271	249–271	NUM
fsr-3489	752	2	fabozzi	fabozzi	NOUN
fsr-3489	752	3	,	,	PUNCT
fsr-3489	752	4	f.	f.	PROPN
fsr-3489	752	5	j.	j.	PROPN
fsr-3489	752	6	,	,	PUNCT
fsr-3489	752	7	focardi	focardi	PROPN
fsr-3489	752	8	,	,	PUNCT
fsr-3489	752	9	s.	s.	PROPN
fsr-3489	752	10	m.	m.	PROPN
fsr-3489	752	11	&	&	CCONJ
fsr-3489	752	12	jonas	jonas	PROPN
fsr-3489	752	13	,	,	PUNCT
fsr-3489	752	14	c.	c.	PROPN
fsr-3489	752	15	(	(	PUNCT
fsr-3489	752	16	2010	2010	NUM
fsr-3489	752	17	)	)	PUNCT
fsr-3489	752	18	.	.	PUNCT
fsr-3489	753	1	investment	investment	NOUN
fsr-3489	753	2	management	management	NOUN
fsr-3489	753	3	after	after	ADP
fsr-3489	753	4	the	the	DET
fsr-3489	753	5	global	global	ADJ
fsr-3489	753	6	financial	financial	ADJ
fsr-3489	753	7	crisis	crisis	NOUN
fsr-3489	753	8	.	.	PUNCT
fsr-3489	754	1	charlottesville	charlottesville	PROPN
fsr-3489	754	2	,	,	PUNCT
fsr-3489	754	3	va	va	PROPN
fsr-3489	754	4	:	:	PUNCT
fsr-3489	754	5	research	research	NOUN
fsr-3489	754	6	foundation	foundation	NOUN
fsr-3489	754	7	publications	publication	NOUN
fsr-3489	754	8	,	,	PUNCT
fsr-3489	754	9	cfa	cfa	PROPN
fsr-3489	754	10	institute	institute	PROPN
fsr-3489	754	11	.	.	PUNCT
fsr-3489	755	1	fama	fama	PROPN
fsr-3489	755	2	,	,	PUNCT
fsr-3489	755	3	e.	e.	PROPN
fsr-3489	755	4	f.	f.	PROPN
fsr-3489	755	5	,	,	PUNCT
fsr-3489	755	6	&	&	CCONJ
fsr-3489	755	7	french	french	PROPN
fsr-3489	755	8	,	,	PUNCT
fsr-3489	755	9	k.	k.	PROPN
fsr-3489	755	10	r.	r.	PROPN
fsr-3489	755	11	(	(	PUNCT
fsr-3489	755	12	1993	1993	NUM
fsr-3489	755	13	)	)	PUNCT
fsr-3489	755	14	.	.	PUNCT
fsr-3489	756	1	common	common	ADJ
fsr-3489	756	2	risk	risk	NOUN
fsr-3489	756	3	factors	factor	NOUN
fsr-3489	756	4	in	in	ADP
fsr-3489	756	5	the	the	DET
fsr-3489	756	6	returns	return	NOUN
fsr-3489	756	7	on	on	ADP
fsr-3489	756	8	stocks	stock	NOUN
fsr-3489	756	9	and	and	CCONJ
fsr-3489	756	10	bonds	bond	NOUN
fsr-3489	756	11	.	.	PUNCT
fsr-3489	757	1	journal	journal	NOUN
fsr-3489	757	2	of	of	ADP
fsr-3489	757	3	financial	financial	ADJ
fsr-3489	757	4	economics	economic	NOUN
fsr-3489	757	5	,	,	PUNCT
fsr-3489	757	6	33	33	NUM
fsr-3489	757	7	,	,	PUNCT
fsr-3489	757	8	3–53	3–53	NOUN
fsr-3489	757	9	.	.	PUNCT
fsr-3489	758	1	golec	golec	PROPN
fsr-3489	758	2	,	,	PUNCT
fsr-3489	758	3	j.	j.	PROPN
fsr-3489	758	4	(	(	PUNCT
fsr-3489	758	5	2007	2007	NUM
fsr-3489	758	6	)	)	PUNCT
fsr-3489	758	7	.	.	PUNCT
fsr-3489	759	1	are	be	AUX
fsr-3489	759	2	the	the	DET
fsr-3489	759	3	insider	insider	NOUN
fsr-3489	759	4	trades	trade	NOUN
fsr-3489	759	5	of	of	ADP
fsr-3489	759	6	a	a	DET
fsr-3489	759	7	large	large	ADJ
fsr-3489	759	8	institutional	institutional	ADJ
fsr-3489	759	9	investor	investor	NOUN
fsr-3489	759	10	informed	inform	VERB
fsr-3489	759	11	?	?	PUNCT
fsr-3489	760	1	financial	financial	ADJ
fsr-3489	760	2	review	review	PROPN
fsr-3489	760	3	,	,	PUNCT
fsr-3489	760	4	42	42	NUM
fsr-3489	760	5	,	,	PUNCT
fsr-3489	760	6	161–190	161–190	NUM
fsr-3489	760	7	.	.	PUNCT
fsr-3489	761	1	groysberg	groysberg	PROPN
fsr-3489	761	2	,	,	PUNCT
fsr-3489	761	3	b.	b.	PROPN
fsr-3489	761	4	,	,	PUNCT
fsr-3489	761	5	healy	healy	PROPN
fsr-3489	761	6	,	,	PUNCT
fsr-3489	761	7	p.	p.	PROPN
fsr-3489	761	8	,	,	PUNCT
fsr-3489	761	9	nohria	nohria	PROPN
fsr-3489	761	10	,	,	PUNCT
fsr-3489	761	11	n.	n.	NOUN
fsr-3489	761	12	,	,	PUNCT
fsr-3489	761	13	&	&	CCONJ
fsr-3489	761	14	serafeim	serafeim	PROPN
fsr-3489	761	15	,	,	PUNCT
fsr-3489	761	16	g.	g.	PROPN
fsr-3489	761	17	(	(	PUNCT
fsr-3489	761	18	2011	2011	NUM
fsr-3489	761	19	)	)	PUNCT
fsr-3489	761	20	.	.	PUNCT
fsr-3489	762	1	what	what	PRON
fsr-3489	762	2	factors	factor	NOUN
fsr-3489	762	3	drive	drive	VERB
fsr-3489	762	4	analyst	analyst	NOUN
fsr-3489	762	5	forecasts	forecast	NOUN
fsr-3489	762	6	?	?	PUNCT
fsr-3489	763	1	financial	financial	ADJ
fsr-3489	763	2	analysts	analyst	NOUN
fsr-3489	763	3	journal	journal	NOUN
fsr-3489	763	4	,	,	PUNCT
fsr-3489	763	5	67	67	NUM
fsr-3489	763	6	,	,	PUNCT
fsr-3489	763	7	18–29	18–29	NUM
fsr-3489	763	8	.	.	PUNCT
fsr-3489	764	1	jones	jones	PROPN
fsr-3489	764	2	,	,	PUNCT
fsr-3489	764	3	r.	r.	PROPN
fsr-3489	764	4	c.	c.	PROPN
fsr-3489	764	5	,	,	PUNCT
fsr-3489	764	6	&	&	CCONJ
fsr-3489	764	7	wermers	wermers	PROPN
fsr-3489	764	8	,	,	PUNCT
fsr-3489	764	9	r.	r.	PROPN
fsr-3489	764	10	(	(	PUNCT
fsr-3489	764	11	2011	2011	NUM
fsr-3489	764	12	)	)	PUNCT
fsr-3489	764	13	.	.	PUNCT
fsr-3489	765	1	active	active	ADJ
fsr-3489	765	2	management	management	NOUN
fsr-3489	765	3	in	in	ADP
fsr-3489	765	4	mostly	mostly	ADV
fsr-3489	765	5	efficient	efficient	ADJ
fsr-3489	765	6	markets	market	NOUN
fsr-3489	765	7	.	.	PUNCT
fsr-3489	766	1	financial	financial	ADJ
fsr-3489	766	2	analysts	analyst	NOUN
fsr-3489	766	3	journal	journal	NOUN
fsr-3489	766	4	,	,	PUNCT
fsr-3489	766	5	67	67	NUM
fsr-3489	766	6	,	,	PUNCT
fsr-3489	766	7	29–45	29–45	NUM
fsr-3489	766	8	.	.	PUNCT
fsr-3489	767	1	kacperczyk	kacperczyk	PROPN
fsr-3489	767	2	,	,	PUNCT
fsr-3489	767	3	m.	m.	NOUN
fsr-3489	767	4	,	,	PUNCT
fsr-3489	767	5	sialm	sialm	PROPN
fsr-3489	767	6	,	,	PUNCT
fsr-3489	767	7	c.	c.	PROPN
fsr-3489	767	8	&	&	CCONJ
fsr-3489	767	9	zheng	zheng	PROPN
fsr-3489	767	10	,	,	PUNCT
fsr-3489	767	11	l.	l.	PROPN
fsr-3489	767	12	(	(	PUNCT
fsr-3489	767	13	2005	2005	NUM
fsr-3489	767	14	)	)	PUNCT
fsr-3489	767	15	.	.	PUNCT
fsr-3489	768	1	on	on	ADP
fsr-3489	768	2	the	the	DET
fsr-3489	768	3	industry	industry	NOUN
fsr-3489	768	4	concentration	concentration	NOUN
fsr-3489	768	5	of	of	ADP
fsr-3489	768	6	actively	actively	ADV
fsr-3489	768	7	managed	manage	VERB
fsr-3489	768	8	equity	equity	NOUN
fsr-3489	768	9	mutual	mutual	ADJ
fsr-3489	768	10	funds	fund	NOUN
fsr-3489	768	11	.	.	PUNCT
fsr-3489	769	1	journal	journal	PROPN
fsr-3489	769	2	of	of	ADP
fsr-3489	769	3	finance	finance	NOUN
fsr-3489	769	4	,	,	PUNCT
fsr-3489	769	5	60	60	NUM
fsr-3489	769	6	,	,	PUNCT
fsr-3489	769	7	1983–2011	1983–2011	NUM
fsr-3489	769	8	.	.	PUNCT
fsr-3489	770	1	kaushik	kaushik	PROPN
fsr-3489	770	2	,	,	PUNCT
fsr-3489	770	3	a.	a.	PROPN
fsr-3489	770	4	,	,	PUNCT
fsr-3489	770	5	pennathur	pennathur	PROPN
fsr-3489	770	6	,	,	PUNCT
fsr-3489	770	7	a.	a.	PROPN
fsr-3489	770	8	&	&	CCONJ
fsr-3489	770	9	barnhart	barnhart	PROPN
fsr-3489	770	10	,	,	PUNCT
fsr-3489	770	11	s.	s.	PROPN
fsr-3489	770	12	(	(	PUNCT
fsr-3489	770	13	2010	2010	NUM
fsr-3489	770	14	)	)	PUNCT
fsr-3489	770	15	.	.	PUNCT
fsr-3489	771	1	market	market	NOUN
fsr-3489	771	2	timing	timing	NOUN
fsr-3489	771	3	and	and	CCONJ
fsr-3489	771	4	the	the	DET
fsr-3489	771	5	determinants	determinant	NOUN
fsr-3489	771	6	of	of	ADP
fsr-3489	771	7	performance	performance	NOUN
fsr-3489	771	8	of	of	ADP
fsr-3489	771	9	sector	sector	NOUN
fsr-3489	771	10	funds	fund	NOUN
fsr-3489	771	11	over	over	ADP
fsr-3489	771	12	the	the	DET
fsr-3489	771	13	business	business	NOUN
fsr-3489	771	14	cycle	cycle	NOUN
fsr-3489	771	15	.	.	PUNCT
fsr-3489	772	1	managerial	managerial	ADJ
fsr-3489	772	2	finance	finance	NOUN
fsr-3489	772	3	,	,	PUNCT
fsr-3489	772	4	36	36	NUM
fsr-3489	772	5	,	,	PUNCT
fsr-3489	772	6	583–602	583–602	NUM
fsr-3489	772	7	.	.	PUNCT
fsr-3489	773	1	kochman	kochman	PROPN
fsr-3489	773	2	,	,	PUNCT
fsr-3489	773	3	l.	l.	PROPN
fsr-3489	773	4	m.	m.	PROPN
fsr-3489	773	5	,	,	PUNCT
fsr-3489	773	6	&	&	CCONJ
fsr-3489	773	7	badarinathi	badarinathi	PROPN
fsr-3489	773	8	,	,	PUNCT
fsr-3489	773	9	r.	r.	PROPN
fsr-3489	773	10	(	(	PUNCT
fsr-3489	773	11	1993	1993	NUM
fsr-3489	773	12	)	)	PUNCT
fsr-3489	773	13	.	.	PUNCT
fsr-3489	774	1	net	net	ADJ
fsr-3489	774	2	selectivity	selectivity	NOUN
fsr-3489	774	3	revisited	revisit	VERB
fsr-3489	774	4	.	.	PUNCT
fsr-3489	775	1	journal	journal	NOUN
fsr-3489	775	2	of	of	ADP
fsr-3489	775	3	economics	economic	NOUN
fsr-3489	775	4	and	and	CCONJ
fsr-3489	775	5	finance	finance	NOUN
fsr-3489	775	6	,	,	PUNCT
fsr-3489	775	7	17	17	NUM
fsr-3489	775	8	,	,	PUNCT
fsr-3489	775	9	73–79	73–79	NOUN
fsr-3489	775	10	.	.	PUNCT
fsr-3489	776	1	marcus	marcus	PROPN
fsr-3489	776	2	,	,	PUNCT
fsr-3489	776	3	a.	a.	PROPN
fsr-3489	776	4	j.	j.	PROPN
fsr-3489	776	5	(	(	PUNCT
fsr-3489	776	6	1990	1990	NUM
fsr-3489	776	7	)	)	PUNCT
fsr-3489	776	8	.	.	PUNCT
fsr-3489	777	1	the	the	DET
fsr-3489	777	2	magellan	magellan	PROPN
fsr-3489	777	3	fund	fund	PROPN
fsr-3489	777	4	and	and	CCONJ
fsr-3489	777	5	market	market	NOUN
fsr-3489	777	6	efficiency	efficiency	NOUN
fsr-3489	777	7	.	.	PUNCT
fsr-3489	778	1	journal	journal	PROPN
fsr-3489	778	2	of	of	ADP
fsr-3489	778	3	portfolio	portfolio	PROPN
fsr-3489	778	4	management	management	NOUN
fsr-3489	778	5	,	,	PUNCT
fsr-3489	778	6	17	17	NUM
fsr-3489	778	7	,	,	PUNCT
fsr-3489	778	8	85–88	85–88	NUM
fsr-3489	778	9	.	.	PUNCT
fsr-3489	779	1	mcgahan	mcgahan	NOUN
fsr-3489	779	2	,	,	PUNCT
fsr-3489	779	3	a.	a.	NOUN
fsr-3489	779	4	m.	m.	PROPN
fsr-3489	779	5	&	&	CCONJ
fsr-3489	779	6	porter	porter	PROPN
fsr-3489	779	7	,	,	PUNCT
fsr-3489	779	8	m.	m.	PROPN
fsr-3489	779	9	e.	e.	PROPN
fsr-3489	779	10	(	(	PUNCT
fsr-3489	779	11	1997	1997	NUM
fsr-3489	779	12	)	)	PUNCT
fsr-3489	779	13	.	.	PUNCT
fsr-3489	780	1	how	how	SCONJ
fsr-3489	780	2	much	much	ADJ
fsr-3489	780	3	does	do	AUX
fsr-3489	780	4	industry	industry	NOUN
fsr-3489	780	5	matter	matter	NOUN
fsr-3489	780	6	,	,	PUNCT
fsr-3489	780	7	really	really	ADV
fsr-3489	780	8	?	?	PUNCT
fsr-3489	781	1	strategic	strategic	ADJ
fsr-3489	781	2	management	management	NOUN
fsr-3489	781	3	journal	journal	NOUN
fsr-3489	781	4	,	,	PUNCT
fsr-3489	781	5	18	18	NUM
fsr-3489	781	6	,	,	PUNCT
fsr-3489	781	7	15–30	15–30	NUM
fsr-3489	781	8	.	.	PUNCT
fsr-3489	782	1	porter	porter	NOUN
fsr-3489	782	2	,	,	PUNCT
fsr-3489	782	3	m.	m.	PROPN
fsr-3489	782	4	e.	e.	PROPN
fsr-3489	782	5	(	(	PUNCT
fsr-3489	782	6	1985	1985	NUM
fsr-3489	782	7	)	)	PUNCT
fsr-3489	782	8	.	.	PUNCT
fsr-3489	783	1	competitive	competitive	ADJ
fsr-3489	783	2	advantage	advantage	NOUN
fsr-3489	783	3	:	:	PUNCT
fsr-3489	783	4	creating	create	VERB
fsr-3489	783	5	and	and	CCONJ
fsr-3489	783	6	sustaining	sustain	VERB
fsr-3489	783	7	superior	superior	ADJ
fsr-3489	783	8	performance	performance	NOUN
fsr-3489	783	9	.	.	PUNCT
fsr-3489	784	1	new	new	PROPN
fsr-3489	784	2	york	york	PROPN
fsr-3489	784	3	,	,	PUNCT
fsr-3489	784	4	ny	ny	PROPN
fsr-3489	784	5	:	:	PUNCT
fsr-3489	784	6	free	free	ADJ
fsr-3489	784	7	press	press	NOUN
fsr-3489	784	8	.	.	PUNCT
fsr-3489	785	1	pozen	pozen	PROPN
fsr-3489	785	2	,	,	PUNCT
fsr-3489	785	3	r.	r.	PROPN
fsr-3489	785	4	,	,	PUNCT
fsr-3489	785	5	&	&	CCONJ
fsr-3489	785	6	hamacher	hamacher	NOUN
fsr-3489	785	7	,	,	PUNCT
fsr-3489	785	8	t.	t.	PROPN
fsr-3489	785	9	(	(	PUNCT
fsr-3489	785	10	2011	2011	NUM
fsr-3489	785	11	)	)	PUNCT
fsr-3489	785	12	.	.	PUNCT
fsr-3489	786	1	most	most	ADV
fsr-3489	786	2	likely	likely	ADJ
fsr-3489	786	3	to	to	PART
fsr-3489	786	4	succeed	succeed	VERB
fsr-3489	786	5	:	:	PUNCT
fsr-3489	786	6	leadership	leadership	NOUN
fsr-3489	786	7	in	in	ADP
fsr-3489	786	8	the	the	DET
fsr-3489	786	9	fund	fund	NOUN
fsr-3489	786	10	industry	industry	NOUN
fsr-3489	786	11	.	.	PUNCT
fsr-3489	787	1	financial	financial	ADJ
fsr-3489	787	2	analysts	analyst	NOUN
fsr-3489	787	3	journal	journal	NOUN
fsr-3489	787	4	,	,	PUNCT
fsr-3489	787	5	67	67	NUM
fsr-3489	787	6	,	,	PUNCT
fsr-3489	787	7	21–28	21–28	NUM
fsr-3489	787	8	.	.	PUNCT
fsr-3489	788	1	sullivan	sullivan	PROPN
fsr-3489	788	2	,	,	PUNCT
fsr-3489	788	3	r.	r.	PROPN
fsr-3489	788	4	n.	n.	PROPN
fsr-3489	788	5	,	,	PUNCT
fsr-3489	788	6	&	&	CCONJ
fsr-3489	788	7	xiong	xiong	PROPN
fsr-3489	788	8	,	,	PUNCT
fsr-3489	788	9	j.	j.	PROPN
fsr-3489	788	10	x.	x.	PROPN
fsr-3489	788	11	(	(	PUNCT
fsr-3489	788	12	2012	2012	NUM
fsr-3489	788	13	)	)	PUNCT
fsr-3489	788	14	.	.	PUNCT
fsr-3489	789	1	how	how	SCONJ
fsr-3489	789	2	index	index	NOUN
fsr-3489	789	3	trading	trading	NOUN
fsr-3489	789	4	increases	increase	VERB
fsr-3489	789	5	market	market	NOUN
fsr-3489	789	6	vulnerability	vulnerability	NOUN
fsr-3489	789	7	.	.	PUNCT
fsr-3489	790	1	financial	financial	ADJ
fsr-3489	790	2	analysts	analyst	NOUN
fsr-3489	790	3	journal	journal	NOUN
fsr-3489	790	4	,	,	PUNCT
fsr-3489	790	5	68	68	NUM
fsr-3489	790	6	,	,	PUNCT
fsr-3489	790	7	70–84	70–84	PROPN
fsr-3489	790	8	.	.	PUNCT
fsr-3489	791	1	xiong	xiong	PROPN
fsr-3489	791	2	,	,	PUNCT
fsr-3489	791	3	j.	j.	PROPN
fsr-3489	791	4	x.	x.	PROPN
fsr-3489	791	5	,	,	PUNCT
fsr-3489	791	6	ibbotson	ibbotson	PROPN
fsr-3489	791	7	,	,	PUNCT
fsr-3489	791	8	r.	r.	PROPN
fsr-3489	791	9	g.	g.	PROPN
fsr-3489	791	10	,	,	PUNCT
fsr-3489	791	11	idzorek	idzorek	NOUN
fsr-3489	791	12	,	,	PUNCT
fsr-3489	791	13	t.	t.	NOUN
fsr-3489	791	14	m.	m.	NOUN
fsr-3489	791	15	,	,	PUNCT
fsr-3489	791	16	&	&	CCONJ
fsr-3489	791	17	chen	chen	PROPN
fsr-3489	791	18	,	,	PUNCT
fsr-3489	791	19	p.	p.	NOUN
fsr-3489	791	20	(	(	PUNCT
fsr-3489	791	21	2010	2010	NUM
fsr-3489	791	22	)	)	PUNCT
fsr-3489	791	23	.	.	PUNCT
fsr-3489	792	1	the	the	DET
fsr-3489	792	2	equal	equal	ADJ
fsr-3489	792	3	importance	importance	NOUN
fsr-3489	792	4	of	of	ADP
fsr-3489	792	5	asset	asset	NOUN
fsr-3489	792	6	allocation	allocation	NOUN
fsr-3489	792	7	and	and	CCONJ
fsr-3489	792	8	active	active	ADJ
fsr-3489	792	9	management	management	NOUN
fsr-3489	792	10	.	.	PUNCT
fsr-3489	793	1	financial	financial	ADJ
fsr-3489	793	2	analysts	analyst	NOUN
fsr-3489	793	3	journal	journal	NOUN
fsr-3489	793	4	,	,	PUNCT
fsr-3489	793	5	66	66	NUM
fsr-3489	793	6	,	,	PUNCT
fsr-3489	793	7	22–30	22–30	NUM
fsr-3489	793	8	.	.	PUNCT
fsr-3489	794	1	zheng	zheng	PROPN
fsr-3489	794	2	,	,	PUNCT
fsr-3489	794	3	w.	w.	PROPN
fsr-3489	794	4	,	,	PUNCT
fsr-3489	794	5	&	&	CCONJ
fsr-3489	794	6	tower	tower	PROPN
fsr-3489	794	7	,	,	PUNCT
fsr-3489	794	8	e.	e.	PROPN
fsr-3489	794	9	(	(	PUNCT
fsr-3489	794	10	2005	2005	NUM
fsr-3489	794	11	)	)	PUNCT
fsr-3489	794	12	.	.	PUNCT
fsr-3489	795	1	fidelity	fidelity	PROPN
fsr-3489	795	2	versus	versus	ADP
fsr-3489	795	3	vanguard	vanguard	NOUN
fsr-3489	795	4	:	:	PUNCT
fsr-3489	795	5	comparing	compare	VERB
fsr-3489	795	6	the	the	DET
fsr-3489	795	7	performance	performance	NOUN
fsr-3489	795	8	of	of	ADP
fsr-3489	795	9	the	the	DET
fsr-3489	795	10	two	two	NUM
fsr-3489	795	11	largest	large	ADJ
fsr-3489	795	12	mutual	mutual	ADJ
fsr-3489	795	13	fund	fund	NOUN
fsr-3489	795	14	families	family	NOUN
fsr-3489	795	15	.	.	PUNCT
fsr-3489	796	1	international	international	ADJ
fsr-3489	796	2	review	review	NOUN
fsr-3489	796	3	of	of	ADP
fsr-3489	796	4	economics	economic	NOUN
fsr-3489	796	5	and	and	CCONJ
fsr-3489	796	6	business	business	NOUN
fsr-3489	796	7	,	,	PUNCT
fsr-3489	796	8	52	52	NUM
fsr-3489	796	9	,	,	PUNCT
fsr-3489	796	10	433–465	433–465	NUM
fsr-3489	796	11	.	.	PUNCT
fsr-3489	797	1	271c.y	271c.y	X
fsr-3489	797	2	.	.	PUNCT
fsr-3489	798	1	lin	lin	PROPN
fsr-3489	798	2	/	/	SYM
fsr-3489	798	3	financial	financial	ADJ
fsr-3489	798	4	services	service	NOUN
fsr-3489	798	5	review	review	VERB
fsr-3489	798	6	23	23	NUM
fsr-3489	798	7	(	(	PUNCT
fsr-3489	798	8	2014	2014	NUM
fsr-3489	798	9	)	)	PUNCT
fsr-3489	798	10	249–271	249–271	NUM