Years

Physical ETFs

Beta/Adj. S-Squared

All Years

2008

2009

2010

2011

2012

2013

All ETFs

0.81***/0.65

0.73***/0.57

0.75***/0.61

0.80***/0.65

0.78***/0.67

0.87***/0.71

0.86***/0.64

UK

0.90***/0.90

0.89***/0.77

0.90***/0.86

0.91***/0.91

0.88***/0.90

0.92***/0.93

0.91***/0.95

Europe

0.85***/0.61

0.81***/0.66

0.82***/0.61

0.85***/0.61

0.86***/0.67

0.87***/0.57

0.90***/0.57

Global

0.75***/0.46

0.63***/0.34

0.65***/0.40

0.62***/0.41

0.70***/0.52

0.80***/0.55

0.80***/0.42

Country

0.77***/0.50

0.49***/0.34

0.48***/0.31

0.65***/0.36

0.65***/0.49

0.82***/0.64

0.77***/0.50

Emerging Markets

0.77***/0.45

0.52***/0.30

0.57***/0.32

0.55***/0.32

0.46***/0.32

0.91***/0.54

0.95***/0.53

Asian Pacific ex. Japan

0.70***/0.37

0.35***/0.14

0.49***/0.19

0.79/0.48

0.84/0.60

0.73***/0.41

0.87/0.47

Years

Synthetic ETFs

All Years

2008

2009

2010

2011

2012

2013

All ETFs

0.87***/0.67

0.83***/0.53

0.84***/0.67

0.83***/0.66

0.84***/0.69

0.90***/0.72

0.93***/0.71

UK

0.92***/0.88

0.81***/0.69

0.89***/0.87

0.88***/0.85

0.92***/0.90

0.93***/0.91

0.97***/0.96

Europe

1.10***/0.71

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1.10***/0.85

1.19***/0.73

1.01***/0.56

Global

0.84***/0.50

0.78***/0.47

0.71***/0.38

0.81***/0.45

0.78***/0.57

0.88***/0.56

0.94***/0.45

Country

0.77***/0.50

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Emerging Markets

0.81***/0.47

0.85***/0.43

0.80***/0.48

0.78***/0.47

0.72***/0.42

0.82***/0.51

0.87***/0.51

Asian Pacific ex. Japan

0.70***/0.37

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0.49***/0.19

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