Hedge fund ETF posts strong performance vs. HF benchmark

Since its launch in July, the Proshares Hedge Replication ETF - which, as its name implies, seeks to replicate hedge fund returns - has outperformed the HFRI Fund Weighted index by about 146 basis points through November. However, through Dec. 27, the fund trailed its own benchmark - the Merrill Lynch Factor Model Total Return index - by about 28 basis points.