A mutual fund's return minus the change in the Standard & Poors 500 Index for the same time period. A notation of -5.00 means the fund return was 5 percentage points less than the gain in the S&P , while 0.00 means that the fund and the S&P had the same return.
DIFFERENCE FROM S&P
Meaning of DIFFERENCE FROM S&P in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012