RT Journal Article SR Electronic T1 The Performance Characteristics of Minimum Variance Portfolios JF The Journal of Trading FD Institutional Investor Journals SP 74 OP 77 DO 10.3905/jot.2012.7.1.074 VO 7 IS 1 A1 Mahesh Pritamani A1 Sean Smith A1 Aran Murphy YR 2011 UL https://pm-research.com/content/7/1/74.abstract AB In this article, the authors investigate the performance of a lowvolatility portfolio. Such a portfolio invests in lower- variance and defensive stocks that tend to have lower beta, making them less inclined to follow the market in a downswing, at a potential cost of slight underperformance during strong market upswings. In the past, and over the long run, low-volatility portfolios have shown the tendency to outperform the broad market on a riskadjusted basis. Evidence of this tendency is well documented, showing historic persistence and global applicability.TOPICS: Style investing, equity portfolio management, analysis of individual factors/risk premia