World 20 ETF Porfolio Scan With Covariance

As this 12-31-2011 Chart shows the World 20 ETF Portfolio has more true volatility than an older investor like myself may want to manage. It requires frequent trades as Countries move in and out of the Balanced portfolio defined by the highest Sharpe ratio. That portfolio's true standard deviation is a lot higher than I expected. More on this issue in a TechNote I am writing.