ature Review Fund performance evaluation has been the subject of debate among financial economists for a long time. This debate took a flight after William Sharpe (1964), John Lintner (1965) and Jan Mossin (1966) developed the Capital Asset Pricing Model (CAPM), which is a set of predictions concerning equili

riod. All of the monthly standard deviations are then annualized. Sharpe Ratio - Sharpe Ratio is a risk-adjusted measure developed by Nobel Laureate William Sharpe. It is calculated by using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe Ratio, the better the fu