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About Zacks Performance
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We are very proud of the returns generated by the Zacks Rank, our model portfolios, Profit Tracks and our Research Wizard strategies. We also are committed as a firm to the concept of transparency and to providing you with accurate and transparent explanation of our performance metrics. You will find this information below. Just click on “details” to see the specifics in the Model Portfolios, Profit Tracks, Zacks Method for Trading & Research Wizard strategies and Trading Services. Some of the performance numbers we show are based on backtests while others are based on the actual trades delivered to clients via our web sites. To effectively use our services you should understand the difference between returns of a backtest.
Questions or comments can be forwarded to support@zacks.com. Or call us 800.767.3771 x9339. (Outside the U.S., call 312.265.9339).
Return data displayed on this page has been updated as of June 30, 2008, unless specifically noted otherwise.
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| Model Portfolios |
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*The time period used in the calculation of the annualized returns vary by portfolio and are displayed below. Comparable annualized returns for the S&P 500 are also shown below. |
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Zacks Rank Disclosure
Annualized returns are for Jan 1, 1988 through Sep 30, 2008. Comparable annualized returns for the S&P 500 are 10.08%.
The performance of the Zacks Rank portfolios for annual and year-to-date periods are the linked monthly total returns (price changes + dividends) of equal weighted hypothetical portfolios, consisting of those stocks with the indicated Zacks Rank, assuming monthly rebalancing and zero transaction costs. These are not the returns of actual portfolios. The hypothetical portfolios were created at the beginning of each month from January 1988 forward based on the values of the Zacks Rank available to Zacks' clients before the beginning of each month. The portfolios created monthly from 1988 through September 2006 exclude ADRs and are comprised of stocks that have the indicated Zacks Rank and were covered by at least two analysts at the time of the stocks inclusion in the portfolio. Starting in October 2006 and going forward, the portfolios are comprised of all stocks with the indicated Zacks Rank and do not exclude ADRs, which is more reflective of the list of stocks that customers will find on the Zacks web sites. The Zacks #1 Rank performance numbers have been independently audited from 1996 through 2007 by Virchow, Krause & Company, LLP.
Zacks Equity Research Buys Disclosure
Annualized returns are for Jan 1, 2003 through Sep 30, 2008. Comparable annualized returns for the S&P 500 over this period are -19.29%.
The performance of the Zacks Equity Research Reports for annual and year-to-date periods are the linked monthly total returns (price changes + dividends) of equal weighted hypothetical portfolios, consisting of those stocks with the indicated Zacks Equity Research recommendation, assuming monthly rebalancing and zero transaction costs. These are not the returns of actual portfolios. The hypothetical portfolios were created at the beginning of each month from January 2003 forward based on the the Zacks Equity Research recommendations available to Zacks' clients before the beginning of each month.
Timely Buys Disclosure
Annualized returns are for Feb 1, 1996 through Jun 30, 2008. Comparable annualized returns for the S&P 500 over this time period are 7.42%.
The performance of the Timely Buys for annual and year-to-date periods are the linked monthly total returns (price changes + dividends) of equal weighted hypothetical portfolios, rebalanced at the time a trade is made and assuming zero transaction costs. These are not the returns of actual portfolios. The hypothetical portfolios and changes to these portfolios are available to Zacks Elite subscribers on the Zacks Elite web site.
Focus List Disclosure
Annualized returns are for Feb 1, 1996 through Jun 30, 2008. Comparable annualized returns for the S&P 500 over this time period are 7.42%.
The performance of the Focus List for annual and year-to-date periods are the linked monthly total returns (price changes + dividends) of equal weighted hypothetical portfolios, rebalanced at the time a trade is made and assuming zero transaction costs. These are not the returns of actual portfolios. The hypothetical portfolios and changes to these portfolios are available to Zacks Elite subscribers on the Zacks Elite web site.
All Star List Disclosure
Annualized returns are for Jul 1, 2002 through Sep 30, 2008. Comparable annualized returns for the S&P 500 over this time period are -19.28%.
The performance of the All Star List for annual and year-to-date periods are the linked monthly total returns (price changes + dividends) of equal weighted hypothetical portfolios, consisting of those stocks listed in the All Star List, assuming monthly rebalancing and zero transaction costs. These are not the returns of actual portfolios. The hypothetical portfolios were created at the beginning of each month from July 2002 forward based on the All Star Analyst ratings available to Zacks' clients before the beginning of each month.
Brokerage Buy List Disclosure
Annualized returns are for Jan 1, 2003 through Sep 30, 2008. Comparable annualized returns for the S&P 500 over this time period are -19.28%.
The performance of the Brokerage Buy List for annual and year-to-date periods are the linked monthly total returns (price changes + dividends) of equal weighted hypothetical portfolios, consisting of those stocks listed in the Brokerage Buy List, assuming monthly rebalancing and zero transaction costs. These are not the returns of an actual portfolio. This hypothetical portfolio was created at the beginning of each month from Jan 1, 2002 forward based on stocks on the core recommended lists of least three of surveyed brokerage firms.
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| Profit Tracks |
Low Price Stocks |
19.8% |
-1.3% |
25.5% |
Track Details, Stocks, Disclosure |
| Recent Price Strength |
-39.9% |
28.8% |
24.6% |
Track Details, Stocks, Disclosure |
| Upgrades and Revisions |
-30.3% |
9.3% |
19.1% |
Track Details, Stocks, Disclosure |
| Discounted Fundamental |
-16.5% |
-0.3% |
23.2% |
Track Details, Stocks, Disclosure |
| Growth and Income |
-8.5% |
-9.7% |
16.2% |
Track Details, Stocks, Disclosure |
| Return on Equity |
-30.5% |
8.5% |
21.4% |
Track Details, Stocks, Disclosure |
| Earnings and Margins |
-13.2% |
7.7% |
23.1% |
Track Details, Stocks, Disclosure |
| High Rank Value |
-8.3% |
-6.0% |
18% |
Track Details, Stocks, Disclosure |
| PEG Ratio |
-36.2% |
21.2% |
26.2% |
Track Details, Stocks, Disclosure |
| S&P 500 |
-24.3% |
6.2% |
-4.3% |
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| *2008 Returns for 4wk Profit Tracks through Oct 03, 2008 |
| *2008 Returns for 24wk Profit Tracks through May 16, 2008 |
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The performance calculations for the Profit Track strategies were produced through the backtesting feature of the Research Wizard using the DBCMHIST database and consist of the total return (price changes + dividends) of an equal weighted portfolio. Returns are calculated on a specified periodic basis (four weeks for all Profit Track strategies except for Growth and Income and High Rank Value, which use a 24-week holding period) and assume no transaction costs. Each strategy is rebalanced at the start of each new period. Returns can be stated as either annualized or compounded.
Stock trading/investing involves risk and you can lose some or all of your investment. Hypothetical or backtested results may not always be duplicated in the real world. Backtesting can at times produce an unintended look-ahead bias. Results can also at times be over or understated due to the exclusion of inactive companies. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading, not the least of which is the ability to withstand losses or to adhere to a particular trading strategy in spite of trading losses. These are material points which can also adversely affect actual trading results. The backtested results prepared for the Profit Track strategies were done using the DBCMHIST database and consisted of only active companies. The Research Wizard program has been aligned, to the extent possible, to eliminate look-ahead bias. Zacks however cannot make any guarantees in regard to this or any other possible limitation.
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| Zacks Method for Trading & Research Wizard |
| ^One-week holding period used. All other strategies use a four-week holding period. |
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The performance calculations for the Research Wizard strategies were produced through the backtesting feature of the Research Wizard using the DBCMHIST database and consist of the total return (price changes + dividends) of an equal weighted portfolio. Returns are calculated on a specified periodic basis (most often one or four weeks) and assume no transaction costs. The portfolio is rebalanced at the start of each new period. Returns can be stated as either annualized or compounded.
Stock trading/investing involves risk and you can lose some or all of your investment. Hypothetical or backtested results may not always be duplicated in the real world. Backtesting can at times produce an unintended look-ahead bias. Results can also at times be over or understated due to the exclusion of inactive companies. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading, not the least of which is the ability to withstand losses or to adhere to a particular trading strategy in spite of trading losses. These are material points which can also adversely affect actual trading results. The backtested results prepared for the Zacks Method were done using the DBCMHIST database and consisted of only active companies. The Research Wizard program has been aligned, to the extent possible, to eliminate look-ahead bias. Zacks however cannot make any guarantees in regard to this or any other possible limitation.
Most popular strategies displayed. Results may change if strategies are customized by user.
Potential Limitations in Backtesting
There are four types of biases that can distort your backtest results.
1. Look Ahead bias - this occurs when the stocks selected on a rank date use financial information that was not available on that rank date. For example if a company reports its financials for the quarter ending Mar 2006 on Apr 20, 2006, the rank that is created at the end of the March 2006 quarter should not use the financials for that quarter, since they were not available at the end of the quarter. We have eliminated to the best of our ability all of the look ahead bias from backtesting using the DBCMHIST database.
2. Restatement bias - this occurs when a company restates its historical financials. For example if a company reports its 3/06 results and restates its Dec 2005 results; a rank done as of end of Dec 2005 should use the originally reported financials for Dec 2005, not the restated financials for Dec 2005 which were not available until March 2003. We have eliminated to the best of our ability all of the restatement bias from backtesting using the DBCMHIST database.
3. Survivor bias - this occurs when stocks that have been delisted or acquired are not included in the backtest results. Depending on your strategy, the impact of survivor bias on your backtest may be significant. As of Oct 26, 2007, we have eliminated to the best of our ability the survivorship bias from Dec 3, 2004 to the present in the DBCMHIST database. The DBCMHIST database does not include the delisted or acquired companies prior Dec 3, 2004.
4. Split bias - this can occur if your screen uses price as a qualifier, e.g., Price > $5.00. The DBCMHIST database is split adjusted. So using the example above, if the company had a stock split between the screened date and the date of your backtest, the company may not be included in your backtest results if the split adjustment caused the historical price at the date of the backtest to be below that $5.00 threshold. Typically, stock splits occur at higher prices. If a stock’s price is an important part of your screen definition (and backtesting), we suggest that you test your screen and vary the price limit to see the impact on your results.
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| Trading Services |
| *Zacks Breakout Trader returns are for the period of Feb 16, 2007 through Mar 31, 2008 |
| ^Zacks Champion Trader returns are for the period of Jan 9, 2008 through Mar 31, 2008 |
| **Zacks Momentum Trader returns are for the period of May 17, 2007 through Mar 31, 2008 |
| ^^Zacks Surprise Trader returns are for the period of May 16, 2006 through Dec 31, 2007 |
| ^*Zacks Value Trader returns are for the period of Aug 21, 2007 through Mar 31, 2008 |
The performance of the trading services portfolios for annual and year-to-date periods are the linked monthly total returns (price changes + dividends) of equal weighted hypothetical portfolios, rebalanced at the time a trade is made and assuming zero transaction costs. These are not the returns of actual portfolios. The hypothetical portfolios and changes to these portfolios are available to subscribers on each trading services’ web site.
Historical performance prior to the launch date, when presented, is from backtesting. Hypothetical or backtested results may not always be duplicated in the real world. Backtesting can at times produce an unintended look-ahead bias. Results can also at times be over or understated due to the exclusion of inactive companies. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading, not the least of which is the ability to withstand losses or to adhere to a particular trading strategy in spite of trading losses. These are material points which can also adversely affect actual trading results.
Historical results for Champion Trader, when presented, were calculated based on a simulated stock trading contest. Trades were made at the discretion of the contestant and may have reflected a different holding period or strategy than used for Zacks Champion Trader. Historical results include transaction costs. |
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