Over the last year, the Lehman Brothers U.S. credit index, a widely followed barometer of corporate bond performance, is up 8.2%.

FORBES: Can Gross Get His Groove Back?

Over the last year, the Lehman Brothers (nyse: LEH - news - people ) U.S. credit index, a widely followed barometer of corporate bond performance, is up 8.2%.

FORBES: Can Gross Get His Groove Back?

Sun and co-authors Lu Zheng of UC Irvine and Ashley Wang of the Federal Reserve studied the returns of some 5, 000 hedge funds from 1994 to 2011, adjusting for the funds' stock and bond exposure, currency bets, credit spreads and other factors that could account for performance.

WSJ: Upside: Protecting Your Portfolio From a Downturn