Module VIII·Article III·~1 min read
Factor Investing
Global Equities (Developed Markets)
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Investment Factors
Factors are systematic sources of returns confirmed by academic research.
Main Factors
| Factor | Description | Risk |
|---|---|---|
| Value | Cheap according to P/B, P/E | Value traps |
| Growth | High revenue/EPS growth | Overvaluation |
| Momentum | Winners keep rising | Sharp reversals |
| Quality | High ROE, low leverage | Quality premium |
| Low Volatility | Stocks with low beta | Underperformance in bull markets |
| Size | Small caps outperform large caps | Liquidity |
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Global Equities (Developed Markets)
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