Question：
The index weighting that results in portfolio weights shifting away from securities that have increased in relative value toward securities that have fallen in relative value whenever the portfolio is rebalanced is most accurately described as:
A. float-adjusted market-capitalization weighting.
B. equal weighting.
C. fundamental weighting.
Answer = C
Fundamentally weighted indices generally will have a contrarian “effect” in that the portfolio weights will shift away from securities that have increased in relative value and toward securities that have fallen in relative value whenever the portfolio is rebalanced.
CFA Level I
“Security Market Indices,” Paul D. Kaplan and Dorothy C. Kelly
Section 3.2.4.
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