Which Mutual Fund Risk Measures Really Matter

Go ahead. Get under the hood.

If you don't wrench much, you may expect to find a mere collection of cranks and cams, a predictable combination of parts that can tell you exactly how high the engine will rev.

Many of the so-called experts say the same about your portfolio -- that every fund or security you choose has set specifications, that rigid ratios and flashy formulas can drive your investment decisions. ...