Guide to A. Stotz All Weather Strategy · Reading performance
How to Compare Portfolio Returns Fairly
A higher return figure does not automatically mean one portfolio is better. A useful comparison starts by aligning dates, currency, calculation method, fees, and risk.
Use the same dates
Set a common start date and end date. Check the data frequency and whether the dates correspond to comparable trading days. A chart that starts after a market decline or ends during a rally may tell a different story from one covering both rising and falling markets.
If a portfolio’s funds or weights changed, understand how historical performance was calculated and what happened when the portfolio changed. Do not assume today’s structure explains every earlier result.
Align currency and fees
- Currency: Compare both returns in baht, or clearly label foreign-currency figures.
- Fees: Check whether management, transaction, and other costs were deducted.
- Cash flows: Separate product performance from an account where an investor added or withdrew money.
- Currency hedging: Check whether the policies differ.
- Benchmark: Understand what the index includes, including dividends, currency, and costs.
Finnomena notes that its displayed NAV return has deducted management fees but excludes certain sales charges, such as front-end fees. Read each dataset’s notes before comparing it with an investor’s net return.
Compare risk and purpose as well
Return is only one dimension. A multi-asset portfolio and an equity fund can have different risk and purposes. Review volatility, drawdowns, asset allocation, and liquidity. If risk data was not calculated consistently, explain that limitation rather than declaring a winner.
A useful question is “What return did this portfolio deliver for the risk taken?” rather than “Which chart has the biggest number in the period I picked?”
Use a checklist instead of picking a preferred chart
| Item | What should match |
|---|---|
| Period | Start date, end date, and data frequency |
| Return | Cumulative or annualized method |
| Currency | Same unit, with hedging disclosed |
| Costs | Fees included and excluded |
| Risk | Portfolio composition and consistently measured indicators |
If an item does not match, flag the limitation and avoid treating the figure as a definitive conclusion.
Frequently asked questions
Can I compare All Weather returns with an equity index?
You can use them as reference data if you state the dates, currency, and calculation method, while explaining that the assets and risks differ.
Does Finnomena’s performance chart include every fee?
Check the specific chart notes. Finnomena says its displayed NAV return includes management fees but excludes some sales charges, including front-end fees.
Sources
- Finnomena: A. Stotz All Weather Strategy — performance methodology notes ↗
- Thai SEC: Fund Fact Sheet performance, risks, and fees ↗
- Investor.gov: Asset allocation and diversification ↗
Sources reviewed: 9 November 2026. If terms or official documents change, follow the latest provider and fund documents.
This article is for education and explains public information. It is not personalized investment advice, does not guarantee returns or principal, and does not accept orders. Review current documents, risks, and fees with Finnomena and the fund managers before deciding.