Our insights straight
to your inbox

Our insights straight to your inbox

Receive our latest Advisor's Digest
research
and commentary sent the
first business
morning every week.

A weekly digest of our latest research and commentary. Topics include the economy and markets, portfolio strategy, ETFs, and practice management.


Fund openings/closings, fund manager changes, dividend distributions, webinars, and other events you might want to know about.



Already registered? Log on to
manage your
email subscriptions.

STAY CONNECTED

LinkedIn  LinkedIn

  Mobile access
  RSS feed

Active-passive

Active-passive

Using alpha and beta strategies to optimize portfolio construction

MYTH: Active underperforms if the manager's style box is out of favor

MYTH: Higher active share leads to better outcomes

Article

It's a myth that higher active share leads to better outcomes. The reality is the zero-sum game and the low-cost advantage apply no matter the percentage of a fund portfolio that differs from a benchmark index.

It's a myth that higher active share leads to better outcomes. The reality is the zero-sum game and the low-cost advantage always apply.

  Read article

MYTH: Active performs better in certain market segments

Article

When it comes to active management, believing that active managers generally perform better in certain market segments is a myth, not a reality. Let's take a look at the reality.

When it comes to active management, believing that active managers generally perform better in certain market segments is a myth, not a reality.

  Read article

MYTH: Active management performs better in bear markets

Article

Why select an active manager? Advisors have many reasons, but not all of them hold up to scrutiny. Believing that active managers generally perform better in bear markets is a myth, not a reality. Take a look at the reality.

Not all reasons for selecting active managers hold up to scrutiny. Let's look at whether active managers generally perform better in certain bear markets.

  Read article

Active or passive? Tips for building a portfolio.

Audio  |  Transcript available

Vanguard analyst Dan Berkowitz says that may not be the best place to start when constructing a portfolio.

Active or passive? Vanguard analyst Dan Berkowitz says that may not be the best place to start when constructing a portfolio.

  Listen to audiocast

 | 

  Read transcript

Fingerprints and bear markets: No two are the same

Article

If you choose to use active management, the best way to increase odds of success is to select low-cost managers.

If you choose to use active management, the best way to increase odds of success is to select low-cost managers.

  Read article

Fingerprints and bear markets: No two are the same

Blog

If you choose to use active management, the best way to increase odds of success is to select low-cost managers.

If you choose to use active management, the best way to increase odds of success is to select low-cost managers.

Read blog  

Fingerprints and bear markets: No two are the same

Blog

If you choose to use active management, the best way to increase odds of success is to select low-cost managers.

If you choose to use active management, the best way to increase odds of success is to select low-cost managers.

Read blog  

Client risk and the case for active-passive combinations

Article

Client risk is a pressing issue for advisors shifting to a fee-based model. Because investors are sensitive to short- or medium-term underperformance, advisors can use broad-based, passively managed investments to help mitigate portfolio volatility.

This research note explains how adding passively managed investments to a portfolio primarily comprising actively managed funds can help reduce client risk.

  Read article

A framework for the active-passive decision

Article

Advisors often use implicit assumptions to decide between active and passive investments. This research paper offers a structured, defendable, and repeatable process to help advisors combine, or choose between, active and passive investments in client portfolios.

This research paper offers a structured, defendable, and repeatable process to help advisors choose an active-passive allocation for client portfolios.

  Read article

Prepare your clients for the active management roller coaster

Blog

Even successful active managers have frequent periods of underperformance. Patience, and perhaps passives, can help capture the upside.

Even successful active managers have frequent periods of underperformance. Patience, and perhaps passives, can help capture the upside.

Read blog  

Prepare your clients for the active management roller coaster

Blog

Even successful active managers have frequent periods of underperformance. Patience, and perhaps passives, can help capture the upside.

Even successful active managers have frequent periods of underperformance. Patience, and perhaps passives, can help capture the upside.

Read blog  

Back-tested strategies: Real or random?

Blog

Some are real. Others are random. Doug Grim offers 3 key questions to ask when evaluating factor-based (aka smart beta) strategies.

Some are real. Others are random. Doug Grim offers 3 key questions to ask when evaluating factor-based (aka smart beta) strategies.

Read blog  

Back-tested strategies: Real or random?

Blog

Some are real. Others are random. Doug Grim offers 3 key questions to ask when evaluating factor-based (aka smart beta) strategies.

Some are real. Others are random. Doug Grim offers 3 key questions to ask when evaluating factor-based (aka smart beta) strategies.

Read blog  

Does your active manager pass the factors test?

Blog

We look at the best ways to determine if you’re getting value from your actively managed fund.

We look at the best ways to determine if you’re getting value from your actively managed fund.

Read blog  

Does your active manager pass the factors test?

Blog

We look at the best ways to determine if you’re getting value from your actively managed fund.

We look at the best ways to determine if you’re getting value from your actively managed fund.

Read blog  

The truth behind indexing

Blog

Chief Investment Officer Greg Davis walks through some recent criticisms of indexing and explains why they don’t hold up to scrutiny.

Chief Investment Officer Greg Davis walks through some recent criticisms of indexing and explains why they don’t hold up to scrutiny.

Read blog  

The truth behind indexing

Blog

Chief Investment Officer Greg Davis walks through some recent criticisms of indexing and explains why they don’t hold up to scrutiny.

Chief Investment Officer Greg Davis walks through some recent criticisms of indexing and explains why they don’t hold up to scrutiny.

Read blog  

No more, no less challenging for active

Blog

Stock market dispersion is the best measure to determine whether active managers have the opportunity to outperform the market.

Stock market dispersion is the best measure to determine whether active managers have the opportunity to outperform the market.

Read blog  

No more, no less challenging for active

Blog

Stock market dispersion is the best measure to determine whether active managers have the opportunity to outperform the market.

Stock market dispersion is the best measure to determine whether active managers have the opportunity to outperform the market.

Read blog