---
title: Achievable Alpha: Evaluating Mutual-Fund Performance for Shortsale-Constrained Investors
url: https://www.ml-quant.com/papers/ssrn/5052445/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 5052445
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5052445
featured: 2024-12-12
citations: 0
topic: Portfolio & Allocation
---


# Achievable Alpha: Evaluating Mutual-Fund Performance for Shortsale-Constrained Investors

The piece argues that the traditional mutual fund performance measure, alpha, is unattainable for short-sale-constrained investors, suggesting a smaller, more achievable measure called achievable alpha.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5052445
- Identifier: SSRN 5052445
- Released: 2024-12-11
- First featured: Quant Letter No. 78 (2024-12-12): https://www.ml-quant.com/issues/2024-12-12/
- Citations (Semantic Scholar): 0
- Published in: not yet
- Topic: Portfolio & Allocation

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