Popular Articles
Factors
02.11.2026
Factor Timing: Correlation During Market Stress
Factor timing studies how investors shift exposures to factors like value, momentum, quality, or size. This matters during market stress because correlations between factors can change quickly, turning diversification into concentration. This article explains what correlation during stress means, why factor signals can fail, and how to test timing rules with realistic data. Readers will learn practical checks, scenario examples, and a decision checklist for evaluating factor timing risk.
Factors
31.10.2026
Factor Crowding: Concentration in Top Holdings
Factor crowding happens when many portfolios hold the same stocks because they share the same factor exposures, like value or momentum. This matters to investors who track factor ETFs, model portfolios, or managed funds and want to understand hidden concentration risk. You’ll learn how crowding forms, what signals to check in holdings, how to stress-test it, and how to compare funds using practical metrics and a decision checklist.
Factors
19.10.2026
Value Factor: Earnings Yield vs Profitability
Value investing isn’t just about finding “cheap” stocks—it’s about understanding what the numbers are really telling you. This article explains how investors use earnings yield as a classic value signal and why adding profitability can completely change the conclusion. It’s written for anyone who wants a grounded, practical way to read common metrics without getting pulled in by hype or one-line rankings. You’ll learn what earnings yield actually captures, how profitability helps separate bargain prices from weak businesses, where the data can be distorted (accounting quirks, one-off items, stale screens), and a simple checklist you can run using public filings and widely available screeners. Two short scenarios show how the same company can look attractive—or questionable—depending on which lens you use.
Factors
13.10.2026
Smart Beta: Factor Exposure vs Benchmark Drift
Smart beta funds target factors like value or momentum, but their real holdings can drift away from the stated benchmark over time. This article explains factor exposure, benchmark drift, and why both matter for risk and performance. It walks through how to check factor tilts using public data, how to interpret tracking error and turnover, and how to compare two funds without relying on marketing claims. Readers learn practical checks, common pitfalls, and decision steps.
Factors
07.10.2026
Factor Rotation: Value vs Momentum Correlation
Factor rotation compares styles like value and momentum across market regimes. This article explains how value–momentum correlation changes, why it matters for portfolio construction, and what can go wrong when you assume the relationship is stable. You’ll learn practical ways to measure correlation, interpret drawdowns, and stress-test rebalancing rules using public data and common tools, with example scenarios and a decision checklist.
Factors
01.10.2026
Factor Crowding: How to Measure Concentration Risk
Factor crowding describes when many investors hold similar factor exposures, so the same risks build up across portfolios. This guide helps informed readers measure concentration risk using practical diagnostics like factor correlation, exposure dispersion, and turnover-at-risk. It suits investors, analysts, and risk teams who want evidence-based checks without relying on vague “market timing” narratives. You’ll learn what to measure, how to interpret results, and which pitfalls distort conclusions.
Factors
25.09.2026
Multifactor ETFs: Factor Overlap by Holdings
Multifactor ETFs combine several equity “factors” such as value, quality, momentum, and low volatility. This guide explains how factor overlap shows up inside the actual holdings, why two funds can look different yet hold similar stocks, and how to check concentration, turnover, and factor exposures using public data. It’s for investors comparing multifactor ETFs and wanting a practical way to evaluate risks, costs, and diversification before buying.
Factors
19.09.2026
Profitability Factor: Gross Profit vs Operating Margin
Gross profit and operating margin both describe profitability, but they answer different questions. This article explains how gross profit relates to pricing and direct costs, while operating margin reflects operating expenses and business efficiency. It is for readers who review financial statements, compare companies, or sanity-check earnings claims. You will learn what each metric can and cannot tell you, how to spot distortions, and how to use a simple checklist and examples to interpret results.
Factors
13.09.2026
Low Volatility: Beta Compression vs Return Drag
This article explains two common forces that can make a “low volatility” strategy look better or worse than expected: beta compression and return drag. It’s for investors and finance-curious readers who want to interpret performance without relying on marketing claims. You’ll learn how each effect works, what data to check, how to compare funds or portfolios, and which measurement traps distort results.
Factors
07.09.2026
Size Factor: Small-Cap Premium After Trading Costs
This article explains the size factor in investing, focusing on why small-cap outperformance can shrink after trading costs and market frictions. It’s for readers who track factor research, build watchlists, or evaluate ETFs and systematic strategies. You’ll learn what “small-cap premium” means, which costs matter most, how to stress-test returns, and what evidence suggests about persistence and risks.