About the Editor
Samuel Lee is an ETF strategist for Morningstar and editor of Morningstar ETFInvestor, a monthly investment newsletter. Prior to becoming editor, Lee was a fund analyst on Morningstar's passive funds research team, where he covered alternative, dividend, and actively managed ETFs and performed quantitative modeling of ETF strategies.

Lee joined Morningstar in 2008 as a data analyst, where he evaluated ways to measure and improve the firm's data quality.

Lee holds a bachelor's degree in economics, with honors, from Grinnell College.


Investment Strategy
Morningstar ETFInvestor scans the globe for value and improving fundamentals across virtually all asset classes. Editor Samuel Lee draws upon academic and practitioner research — including Morningstar's sizeable bench of stock, bond and fund analysts — to find reliable drivers of outperformance.

Morningstar ETFInvestor features two real-money portfolios.

The ETF Income Portfolio assembles a high-quality collection of income-generating ETFs with the goal of earning 5% in excess of the 30-day T-bill rate over a full business cycle. The portfolio adheres to a benchmark-agnostic strategy in its search for absolute returns.

The ETF Global Asset Allocation Portfolio, on the other hand, is more benchmark sensitive. It seeks undervalued asset classes with improving fundamentals. The strategy seeks to beat the 60/40 MSCI ACWI/Barclays US Aggregate benchmark over a full business cycle, with the least risk possible.

 
 
Jan 29, 2015
Welcome !
About Editor Editor's Photo
Samuel Lee,
Editor, Morningstar ETFInvestor
Samuel Lee is an ETF strategist for Morningstar and editor of Morningstar ETFInvestor, a monthly investment newsletter. Prior to becoming editor, Lee was a fund analyst on Morningstar's
Featured Posts
New Issue: How to Use Active Funds with ETFs
The January issue of ETFInvestor is now available for download.

This month, I analyze Bill’s portfolio. Bill is unusual in that he has a huge portfolio, modest needs, and a bit of a gun-slinging attitude to risk. He also has expressed a strong belief in active management, so most of his portfolio is made up of highly rated stock-picking funds. In my analysis, I show that many of these funds, when assembled, produce mediocre results. I then take a chainsaw to the portfolio and propose a simpler allocation that uses both active and passive funds.

Also in this issue:

- What you need to know about REITs and why you should consider trimming or selling them.

- Reviewing the Income and Asset Allocation Portfolios’ 2014.

- The missing piece in the factor-investing revolution: a dirt-cheap absolute and relative momentum fund. So far the best options are actively managed mutual funds.

- An in-depth tutorial on analyzing an active mutual fund with factor models.

You can download the issue at http://etf.morningstar.com/newsletter.aspx

Regards,
Samuel Lee

Strategist
Editor, Morningstar ETFInvestor

Portfolio Holdings
Income Portfolio
ETF
YTD Ret %
Price $
2.7
110.2
CASH$
N/A
1.0
2.7
58.1
4.0
64.2
8.7
12.4
-0.6
20.5
-1.4
30.3
-2.5
38.9
-6.2
23.2
Global Asset Allocation Portfolio
ETF
YTD Ret %
Price $
2.7
110.2
CASH$
N/A
1.0
2.7
58.1
-0.6
20.5
-1.4
30.3
-2.5
38.9
1.0
38.3
-2.3
79.3
-6.2
23.2
Most Popular ETFs
ETF Name
YTD Rtn %
3 Yr Rtn %
Trading Vol.
NASDAQ 100 Trust Shares
-10.76
1.45
125,000,944
SPDRs
-3.64
2.68
87,466,496
Semiconductor HOLDRs
-6.23
-11.66
26,838,700
iShares MSCI Japan Index
-6.59
7.18
17,256,500
iShares Russell 2000 Index
-7.46
6.43
16,210,700
Energy Select Sector SPDR
15.88
15.50
14,900,000
Financial Select Sector SPDR
-8.42
2.61
11,612,800
DIAMONDS Trust, Series 1
-3.75
2.21
7,350,600
Utilities Select Sector SPDR
6.84
6.82
3,848,200
Materials Select Sector SPDR
-4.31
8.50
2,179,300
 
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