Performance analysis
Rolling returns in quartiles
The 3 year excess rolling returns are negative across the corporate bond. The blue line is mostly in the 2nd/3rd quartile.
The rolling returns are almost below 0% for the entire period. The fund was consistent for almost the entire period. As of Feb 2023, the rolling returns are positive and 0.2%.
Rolling risk/return (Snail-trail)
The standard deviation on the 3 year excess returns range between -1% to 3%. overall there is high volatility in the fund.
The snail trail of this fund started at negative returns and very low volatility. As of May 2023, the fund is in the top left quadrant. This indicates that it generates a positive return and also has very less risk.
Tracking error
The tracking error ranges between 0 to 2
The TE of this fund is seen decreasing for the entire period. The fund is in between 0.3 to 1.3%. As of May 2023, the TE is at 0.45%.
Information ratio
The information ratio ranges between 0 to -3.5. The overall ratio has been mostly below 0.
The IR of this fund was at negative at the start and in May 2021, the IR crossed to positive. As of May 2023, the IR is at 1%.
Prepared by – Ganesh Hulke
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