Would you prefer a fund that beats the index whenever the index moves up or would you prefer a fund that falls lower than the index? Our first response would be, why not both? Unfortunately, it is not as simple as that. Very few funds manage to do both. In this post, I discuss why downside protection is important in choosing a mutual fund.
In this post, I would prefer to steer clear of exact definitions. Those interested can consult: Nov 2017 Freefincal Equity Mutual Fund Outperformance Screener