Single-factor equity strategies (namely quality, value, momentum, and low volatility) may have rewarded market participants over the long term, but each is susceptible to unique, cyclical drawdowns. The result is that choosing and timing exposures to single factors requires considerable foresight (or luck) to navigate optimally between them.
So is it wise to rely solely on the performance of one factor at a time?
Dive into the latest findings, which look at the correlations between factors, the potential for finding diversification through factor combinations, the hallmarks of the most precise and methodical multi-factor approaches, and the historical risk/return characteristics of specific multi-factor strategies, compared to their single-factor counterparts.
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