Annual returns for 13 countries in the portfolio.

Sample period 1989-2012

Sample period 1989-1998

Sample period 1999-2008

Country

Sharpe ratio

Treynor ratio

Sharpe ratio

Treynor ratio

Sharpe ratio

Treynor ratio

Angola

0.6329

0.0897

0.2585

0.0295

1.3199

0.1591

Iraq

0.3627

0.4208

0.3093

−0.1208

0.7781

0.1227

Brunei Darussalam

0.4797

0.0855

0.1884

0.0401

1.3018

0.4556

Nigeria

0.5101

0.0791

0.3014

0.0562

0.7783

0.0987

Qatar

0.8641

0.1325

0.6507

0.0969

1.1893

0.1692

Kuwait

0.3385

0.2395

0.3271

0.8117

1.1838

0.1191

República Bolivariana de Venezuela

0.4949

0.0721

0.4105

0.0575

0.7545

0.0872

Saudi Arabia

0.5934

0.0781

0.3115

0.0336

1.1946

0.1421

Islamic Republic of Iran

0.4960

0.0724

0.1859

0.0270

1.2128

0.1783

Norway

0.6405

0.0780

0.4614

0.0399

1.7169

0.1886

Russian Federation

0.7299

0.0948

0.5824

0.0631

1.1627

0.1268

United Arab Emirates

0.7170

0.0879

0.5242

0.0677

1.2946

0.1252

Bolivia

0.6329

0.0936

0.4997

0.0930

0.8372

0.0905

Portfolio

0.7087

0.0860

0.5365

0.0557

1.2791

0.1269