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Factor-based investing

Factor-based investing

Actively position portfolios to seek specific risk-and-return objectives

Factor-based investing: The basics

Audiocast: Looking for ways to reduce portfolio volatility?

Audio  |  Transcript available

In this audiocast, Pat Moore, a product manager in Vanguard Portfolio Review Department, shares methods for reducing portfolio volatility while still staying invested in stocks. Pat also explains the differences between low volatility and minimum volatility approaches.

This audiocast explores the minimum volatility approach to reducing portfolio volatility while still staying invested in stocks.

  Listen to audiocast

 | 

  Read transcript

For equity factor strategies, beware the wrinkles in timing

Article

Learn how due diligence is necessary when using equity factor strategies to successfully achieve specific client investment objectives.

Think due diligence when considering equity factors to meet client investment objectives.

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Factor cyclicality: Buckle up; it could be quite a ride!

Article

The performance variability of U.S. equity factor-driven funds can be a roller-coaster ride for investors.

The performance variability of U.S. equity factor-driven funds can be a roller-coaster ride for investors.

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Factor cyclicality: Buckle up; it could be quite a ride!

Blog

The performance variability of U.S. equity factor-driven funds can be a roller-coaster ride for investors.

The performance variability of U.S. equity factor-driven funds can be a roller-coaster ride for investors.

Read blog  

Factor cyclicality: Buckle up; it could be quite a ride!

Blog

The performance variability of U.S. equity factor-driven funds can be a roller-coaster ride for investors.

The performance variability of U.S. equity factor-driven funds can be a roller-coaster ride for investors.

Read blog  

Security weighting in Vanguard factor products

Video  |  Transcript available

In this 3-minute video, Vanguard Senior Product Manager Frank Chism describes how we weight securities in our factor products. He explains how the factor score, which is calculated using specific underlying characteristics, determines which securities are used and how they’re weighted within the fund.

In this 3-minute video, Vanguard Senior Product Manager Frank Chism describes how we weight securities in our factor products. He explains how the factor score, which is calculated using specific underlying characteristics, determines which securities are used and how they’re weighted within the fund.

  Watch video

 | 

  Read transcript

Optimize your factor exposures with our active approach

Video  |  Transcript available

What makes our factor products unique? In this In this 5-minute video, Vanguard factor experts Antonio Picca and Frank Chism discuss the construction and active implementation characteristics that differentiate Vanguard's factor-based products from the competition.

In this 5-minute video clip, Vanguard's Antonio Picca and Frank Chism examine what makes our factor-based products unique.

  Watch video

 | 

  Read transcript

How Vanguard builds its multifactor product

Video  |  Transcript available

In this 2-minute video excerpt from our recent factors webcast, Vanguard Senior Investment Strategist Doug Grim discusses multifactor strategies, and Head of Factor-Based Strategies Antonio Picca describes the construction methodology of Vanguard's multifactor product.

In this 2-minute video, Vanguard's Doug Grim discusses multifactor strategies, and Antonio Picca shares Vanguard's multifactor product construction methodology.

  Watch video

 | 

  Read transcript

Dividends or quality? Choosing the best tool for the job

Article

Some advisors use dividend funds as a proxy for quality exposure. But targeting dividend-paying companies only gives you a taste of the quality premium. Vanguard U.S. Quality Factor ETF (VFQY) offers a more precise way to target quality exposure in a portfolio.

Factor expert Frank Chism compares using dividend funds to capture quality with the more targeted exposure provided by Vanguard U.S. Quality Factor ETF (VFQY).

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Benchmarking and comparing factor-based products

Video  |  Transcript available

In a 5-minute video, Vanguard experts Frank Chism, Doug Grim, and Antonio Picca discuss benchmarking and comparing factor products. They examine how to measure a factor fund’s performance against that of the broad market and how to compare one factor fund with another.

In this 5-minute video, Vanguard factor experts examine strategies for comparing factor-based products head-to-head.

  Watch video

 | 

  Read transcript

Seeing factors through a quant manager's eyes

Article

Learn how our head of factor-based investing thinks about and approaches factors. Drill into our methodology that relies on three broad underlying characteristics to achieve exposure to each individual factors, including value, momentum, quality, and liquidity.

Discover how our head of factor investing thinks about factor-based investing & constructs our factor ETFs focused on value, momentum, quality, and liquidity.

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Our experts talk factors and ETFs at recent conferences

Article

A panel of three Vanguard investing experts summarized their experiences at the Morningstar Investment Conference and the Inside Smart Beta & Active ETFs Summit.

Three Vanguard investing experts discussed what they learned at two recent industry conferences.

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Liquidity Q&A: A hidden gem of factor investing?

Article

Liquidity exposure has historically produced a premium, yet many advisors are unfamiliar with it. In this Q&A, Vanguard factor experts Matt Jiannino and Frank Chism discuss the liquidity premium, strategies that target it, and Vanguard U.S. Liquidity Factor ETF.

Vanguard factor experts Matt Jiannino and Frank Chism sit down to discuss the liquidity premium and Vanguard U.S. Liquidity Factor ETF (VFLQ).

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Elephant in the smart beta room

Blog

The real elephant in the smart beta room is cost. Many smart beta products are more expensive than some traditional active funds.

The real elephant in the smart beta room is cost. Many smart beta products are more expensive than some traditional active funds.

Read blog  

Elephant in the smart beta room

Blog

The real elephant in the smart beta room is cost. Many smart beta products are more expensive than some traditional active funds.

The real elephant in the smart beta room is cost. Many smart beta products are more expensive than some traditional active funds.

Read blog  

Elephant in the smart beta room

Blog

The real elephant in the smart beta room is cost. Many smart beta products are more expensive than some traditional active funds.

The real elephant in the smart beta room is cost. Many smart beta products are more expensive than some traditional active funds.

Read blog  

Elephant in the smart beta room

Blog

The real elephant in the smart beta room is cost. Many smart beta products are more expensive than some traditional active funds.

The real elephant in the smart beta room is cost. Many smart beta products are more expensive than some traditional active funds.

Read blog  

Elephant in the smart beta room

Blog

The real elephant in the smart beta room is cost. Many smart beta products are more expensive than some traditional active funds.

The real elephant in the smart beta room is cost. Many smart beta products are more expensive than some traditional active funds.

Read blog  

How factors fit into Vanguard's investment philosophy

Video  |  Transcript available

In this 3-minute video clip, Vanguard's Doug Grim discusses how our factor strategies fit into Vanguard's long-standing investment philosophy. He explains that our new products adhere to Vanguard's four pillars of investing: goals, balance, low costs, and discipline.

In this 3-minute video clip, Vanguard's Doug Grim explains how our factor strategies align with our long-standing investment philosophy.

  Watch video

 | 

  Read transcript