Interesting idea. Just today the All Ordinary top 500 changed. All the newly promoted stocks would have a positive influence while others dropping out lose their impact. Possibly this not same as a vangard with the underlying stock being managed to avoid volatility. Suspect maybe it can't really prove or disprove financial theory. Does the 10% return include yields as well as capital? It is a little bit like arguement for passive vs active managed funds, which tends to fluctuate.
