With the holiday season almost upon us, it is time to take a step back and reflect on 2016 and the fortunes and misfortunes it brought us. December has traditionally been a month when fund managers' performance is evaluated and in that light I wanted to see who were the winners and losers of this year. I am carefully reading all the comments I receive from my readers and I recently found out this fund exists. The fund is ProShares High Yield-Interest Rate Hedged ETF (NYSE: HYHG). The fund has returned a remarkable 9.35% year-to-date (see chart below), which looked quite nice at first glance, but as usual, the devil turned out to be in the details. It just goes to show you how misleading absolute returns could be when they are not considered in context.
Source: StockCharts.com
Background information
In the world we are currently living, financial engineering
