What is the attribution report “by Sector” showing me?
The attribution report “by Sector” is a summary view of how your investments in each sector performed compared to the range of returns that were possible for each sector. For example, an investor who owned 4 technology stocks for a given period would have the returns of those 4 technology stocks compared to the returns of other possible combinations of 4 technology stocks to determine if the investor selected his/her 4 tech stocks well. You can imagine that if his/her 4 stocks gained 25% in one month, we might be impressed. However, if random selections of 4 tech stocks over the same period all returned more than 25%, then we would realize that the investor in question actually did a bad job of picking technology stocks.
