About the Fund

Investment Objective

The Fund seeks to mirror the investment returns of the top 25% wealthiest members of the United States Congress, as measured by publicly disclosed net worth and stock transactions.

Principal Strategy

LEF tracks the stock trades disclosed by members of Congress under the Stop Trading on Congressional Knowledge (STOCK) Act of 2012. The fund's "portfolio" is rebalanced to reflect the aggregate trading activity of qualifying legislators.

Qualifying legislators are defined as those in the top quartile of net worth among all sitting members of the House and Senate.

Why "Evil"?

The name is satirical. We're not suggesting that Congressional investing is inherently evil. We're simply observing that:

• Members of Congress consistently outperform the market
• They have access to non-public information through their legislative duties
• They vote on legislation that directly affects the companies they own
• The STOCK Act's 45-day disclosure window makes real-time tracking impossible

Draw your own conclusions.

Data Sources

All data is derived from public sources:

• Congressional financial disclosures (Office of the Clerk)
• Senate financial disclosures (Secretary of the Senate)
• Net worth estimates from OpenSecrets.org
• Historical stock prices from public market data