Elton, Edwin J.; Gruber, Martin J.; Busse, Jeffrey A. - In: Journal of Finance 59 (2004) 1, pp. 261-288
S&P 500 index funds represent one of the simplest vehicles for examining rational behavior. They hold virtually the same securities, yet their returns differ by more than 2 percent per year. Although the relative returns of alternative S&P 500 funds are easily predictable, the relationship...