I now look at GARIX regularly. This is a fund run by Greenblatt that uses the MFI principles but has a long/short approach (shorting some of the lowest scoring Stocks in MFI ranking system). For most of 2014, GARIX was beating my MFI index and beating the IWV. I recall thinking how smart they were. But that has taken a 180 degree reversal of late, say since about June 10th.
Very interestingly, since then GARIX is down about 1.5% and the IWV is up about 1.5%. S an overall three point swing now has GARIX for the year trailing IWV (5.4% to 7.1%). My MFI Index is up 6.8%.
This means that the recent rally has been driven by stocks with poorer earrings (look at DDD, VJET, SCTY and GORO recently to get the picture).