Hi  All, As written before , I will try to update the STE Smart Beta Index on quarterly basis and re-balance the portfolio on yearly basis . Append below , please find the latest update : Index just slightly outperformed the STI Index by merely 0.8%  since 28 Aug 2016 ,one quarter result may not reflect the long term trend , we may need to see this in longer time horizon to gauge the performance if there is any "smart factors" in this kind of criteria selection. Cheers !! Just For Fun   :-) ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// When Alpha Becomes Beta What is Alpha ? Concept explain : ( From Investopedia ) A measure of performance on a risk-adjusted basis. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index used as a benchmark, since they are often considered to represent the market’s movement as a whole. The excess returns of a fund relative to the return of a benchmark index is the fund's alpha......