Annual returns for nine 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

Zambia

0.3606

0.1156

0.1699

−0.0686

0.5897

0.1003

Suriname

0.2742

0.1908

0.2224

−0.0403

0.3243

0.0361

Democratic Republic of Congo

0.3538

0.0659

0.0615

0.0073

0.5457

0.2352

Chile

0.6792

0.0910

0.6451

0.0492

0.8231

0.0907

Peru

0.8095

0.1121

0.5786

0.0654

1.3537

0.1394

Mali

0.3091

0.0608

0.4089

0.0835

0.0686

0.0093

Mauritania

0.4521

0.0603

0.0448

0.0050

1.0414

0.1191

Guyana

0.7354

0.2682

0.8117

−0.3448

0.5114

0.0591

Sierra Leone

0.2218

0.2140

−0.4409

−0.6591

0.3417

0.3744

Portfolio

0.7144

0.0927

0.6297

0.0555

0.9525

0.0986