Andrew’s Angle

Sharing insights from our nearly decade-long experience of timing factors, we make the case that factors are cyclical and can be sensibly timed.

Factors are cyclical. Individual factors may experience periods of underperformance. A time-varying approach to factors may supersede factor investing alone.

Investors that are willing to endure periods of cyclical underperformance for the momentum factor may be able to effectively capture the long-term premium with momentum ETFs.