EFTA Document EFTA01375550

Adviser Select Spectrum Asset Management I Principal Preferred Securities As of 1Q 2016 Glossary Alpha - Alpha is a measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk as measured by beta. A positive Alpha figure indicates the portfolio has performed better than its beta would predict. In contrast, a negative Alpha indicates the portfolio has underperformed, given the expectations established by beta. Alpha is calculated by t