FA Staff Report

Smart Beta Far From Bubble Territory

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Smart beta has the potential to grow even larger.

Factor Investing—A Longer-Term Approach

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True factors can take extended periods of time to assert themselves.

Using Factor Cyclicality To Generate Alpha?

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The best use for most investors is a more stable allocation target designed to their unique investment objectives.

Performance Chasing Can Lead To Wealth Destruction

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Buying that which has performed well, and is now newly expensive, is a sure way to generate poor returns.

Smart Beta ETFs Still In The Early Innings

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An adequate surveillance period with a live track record is needed to provide some degree of confidence.