About the Editor
Ben Johnson, CFA, is director of global ETF research for Morningstar. Before assuming his current role in 2012, he was director of ETF research for Europe and Asia. He also previously served as a senior equity analyst, covering the agriculture and chemicals industries. Before joining Morningstar in 2006, he worked as a financial advisor for Morgan Stanley.

Johnson holds a bachelor's degree in economics from the University of Wisconsin. He also holds the Chartered Financial Analyst® designation. In 2015, Fund Directions and Fund Action named Johnson among the 2015 Rising Stars of Mutual Funds.


Investment Strategy
Morningstar ETFInvestor scans the globe for value and improving fundamentals across virtually all asset classes. Editor Ben Johnson 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.

 
 
Sep 26, 2016
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About Editor Editor's Photo
Ben Johnson, CFA,
Director, Global ETF Research and Editor
Ben Johnson, CFA, is director of global ETF research for Morningstar. Before assuming his current role in 2012, he was director of ETF research for Europe and Asia. He also previously served
Featured Posts
New Issue: My Top 4 Take-Aways From the Morningstar ETF Conference

The PDF version of the September issue of ETFInvestor is now available for download.

The iPad version will be available in approximately 3 business days.

We have just wrapped our seventh annual Morningstar ETF Conference, which ran Sept. 7–9 in Chicago. The three-day event brought together over 700 advisors, strategists, due-diligence analysts, exchange-traded fund providers, and a host of other industry participants. As is the case with all Morningstar conferences, this is not a pay-to-play affair chock-a-block with product pitches. Our analysts craft each year’s agenda. We set out to put together a solid lineup of industry luminaries to spur good conversation about important issues facing investors, as well as to give them practical ideas about how to put ETFs to work in practice. I think this year’s conference was our best yet. In this month’s cover story, I share my top four take-aways from the event.

Also in this issue:

  • We’ve spotted an all-too-familiar pattern of investor behavior in the First Trust Dorsey Wright Focus Five ETF FV.
  • I've included the second half of the transcript of my conversation with AQR's Cliff Asness and Research Affiliates' Rob Arnott from this year's Morningstar Investment Conference.
  • Karin Anderson profiles SPDR Barclays Short Term Corporate Bond ETF SCPB.
  • Alex Bryan shares his analysis of iShares Edge MSCI Momentum ETF MTUM.
  • Alex also discusses the behavioral underpinnings of momentum and demonstrates how investors might try to harness it using ETFs offering exposure to individual sectors, countries, or asset classes.

You can download this month's issue here:

http://etf.morningstar.com/Newsletter.aspx?download=currentIssue

Best,

Ben Johnson, CFA

Portfolio Holdings
Income Portfolio
ETF
YTD Ret %
Price $
3.3
107.7
CASH$
N/A
1.0
10.0
53.5
4.0
67.4
12.1
20.2
3.7
28.4
8.0
41.7
-20.0
19.1
Global Asset Allocation Portfolio
ETF
YTD Ret %
Price $
3.3
107.7
CASH$
N/A
1.0
10.0
53.5
12.1
20.2
3.7
28.4
8.0
41.7
1.1
37.1
7.2
83.3
-20.0
19.1
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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