That's the idea. these two for instance are broadly similar (switch the chart to log scale for a better indication of the deviations) but one has greater interim volatility than the other. Even relatively simple 'timing' (rotation) added around 3% to annualised rewards since 2011 with around 6 rotations (monthly reviews). Somewhat like a arbitrage play - expected longer term similar reward, trade/rotate in the interim to sell one, buy the other.
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