Returns vs Sub-category returns : 10Y

This metric is used to measure under or outperformance of funds relative to their category average returns.

Formula : (10Y CAGR of the fund)/(10Y CAGR of the category average returns)

This metric is either at a premium i.e > 1 which represents that the fund has outperformed its category over the stated horizon or at a discount i.e <1 representing underperformance.