Like CRA, I believe JEWEL is both dead weight for the fund, as well as better off in a different index. Removing CRA, JEWEL, and XAVA could greatly increase ROI and derisk some nonimportant assets. Of course, this is just IMO, but revenue generation and/or the ability for future revenue generation is a key principle to follow. YAK, PNG, JOE, YETI, VTX, even QI, and PTP all offer stronger value propositions in terms of revenue generation and upside potential.
I agree with you, but as far as I’m aware JEWEL is not in the fund.