That would make a U.S.-based stock index, such as the broad-market Russell 3000, an appropriate measuring stick for the fund, Mr. Gogerty says.

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If I am correct, a choppy market this month this will make it difficult for those who invest in index-based products while stock pickers who concentrate on entry levels and risk should do much better.

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Although stock or index selection is generally based on volatility characteristics and the size of specific equities, low volatility ETFs, de facto have sector concentrations investors should keep in mind when they are making their selections.

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Indexed options work similarly to traditional stock options, with one exception: Rather than having the exercise price fixed at the market price on the date of grant, the exercise price varies based on the change in an appropriate stock market index, e.g.

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For lower-level executives, it may be more appropriate to grant restricted stock that vests based on performance relative to an index.

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The Vanguard Total World Stock Index ETF (VT) provides a global mix of stocks based on market capitalization.

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Before you chalk that up to being based on the wrong continent (beleaguered Europe) keep in mind that over the same stretch a Euro stock index is up more than 8%.

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