| Fund Category | Number of Funds | Average α | F-Value |
| OTC Equity Fund (1) | 7 | 0.0746 | 6.07* |
| Medium-Small Capital Fund (2) | 19 | 0.0680 |
|
| Taiwan Enterprise Fund (3) | 6 | 0.0590 |
|
| Theme Fund (4) | 2 | 0.0534 |
|
| High-Tech Fund (5) | 31 | 0.0482 |
|
| Common Equity Fund (6) | 75 | 0.0441 |
|
| Value Stock Fund (7) | 4 | 0.0338 |
|
| Duncan Test | #1 > (#5, #6, #7); #2 > #7 |
|
|