What Really Matters

Have the Smart Betas become crowded trades?  How can we tell? With the outlook for US growth uncertain, new smart beta investors in Minimum Volatility and Quality are paying a big premium today for the strategies. This premium is so high that their entire expected long-term return adv

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns.

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns.

Have the Smart Betas become crowded trades?  How can we tell? With the outlook for US growth slowing, new smart beta investors in Quality and Minimum Volatility are paying a premium today for the strategies. This premium is so high that their entire expected long-term return advantage

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Since year en

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Since

Have the Smart Betas become crowded trades?  How can we tell? With the outlook for US growth slowing, new smart beta investors in Quality and Minimum Volatility are paying a premium today for the strategies. This premium is so high that their entire expected long-term return advantage

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns.

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. As in

Have the Smart Betas become crowded trades?  How can we tell? With the outlook for US growth slowing, new smart beta investors in Quality are paying a premium today for the strategy. This premium is so high that their entire expected return advantage is reversed into a major return di

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Federal Reser

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Feder

After doing your research on Smart Beta strategies, you now have six better ways to build a large /intermediate cap US equity portfolio than using a cap-weighted index: Equal-weighted, Minimum Volatility, Quality, Value, Momentum and High Dividend Yield. How do you put them together i

Have the Smart Betas become crowded trades?  How can we tell? With the outlook for growth slowing, new smart beta investors in Quality are paying a significant premium today for the strategy. This premium is so high that their entire expected return advantage is reversed into a major

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns.

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns.

Have the Smart Betas become crowded trades?  How can we tell? As may be expected in volatile market conditions, new smart beta investors in Quality and Minimum Volatility are significantly overpaying today for the strategies. They are overpaying by so much, actually, that their entire

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Equity market

  Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Equ

Market volatility jumped in August, on fears of a more rapid decline in China’s economy colliding with a potential tightening cycle by the Federal Reserve. Recoveries in Europe and Japan are struggling to establish momentum. Major banks around the world are working to maintain “

Have the Smart Betas become crowded trades?  How can we tell? New smart beta investors in Quality, Minimum Volatility, Momentum and Equal-Weighted are overpaying for the strategies. They are overpaying by so much, actually, that their entire long term return advantage could be wiped o

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns.

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns.

Have the Smart Betas become crowded trades?  How can we tell? New smart beta investors in Momentum, Equal-Weighted and Quality are overpaying for the strategies. They are overpaying by so much, actually, that their entire long term return advantage could be wiped out over the next fiv

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Negotiations

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Negot

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Despite all t

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Despi

Have the Smart Betas become crowded trades?  How can we tell? New smart beta investors in Equal-Weighted, Minimum Volatility and Quality are overpaying for the strategies. They are overpaying by so much, actually, that their entire expected return advantage over the next five years wi

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Slower report

  Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Slo

Have the Smart Betas become crowded trades?  How can we tell? By these measures, it appears that new investors in Equal-Weighted, Minimum Volatility and Quality run the risk of overpaying for the strategies. They are overpaying by so much, actually, that their entire expected return a

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. A report issu

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. A rep

Have the Smart Betas become crowded trades?  How can we tell? By these measures, it appears that new investors in Equal-Weighted, Minimum Volatility and Quality run the risk of overpaying for the strategies. They are overpaying by so much, actually, that their entire expected return a

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Lower oil pri

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Lower

Have the Smart Betas become crowded trades?  How can we tell? What did we look at? We evaluated six “smart beta” alternatives to a US Large/Mid Cap Cap-weighted index exposure. These were 1) Equal Weighted, 2) Minimum Volatility, 3) Quality, 4) Value, 5) Momentum and 6) High Dividend

Where are the ETF investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Oil prices st

Where are the asset class investment opportunities? The chart illustrates the effect of current valuation on expected return over the next five years. Buying undervalued assets results in positive valuation returns. Buying overvalued assets results in negative valuation returns. Oil p