About the Editor
Alex Bryan, CFA, is director of passive strategies for North America at Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. Before assuming his current role in 2016, Bryan spent four years as a manager analyst covering equity strategies. Previously, he was a project manager and senior data analyst in Morningstar's Data department. He joined Morningstar in 2008 as an inside sales consultant for Morningstar Office.

Bryan holds a bachelor's degree in economics and finance from Washington University in St. Louis, where he graduated magna cum laude, and a master's degree in business administration, with high honors, from the University of Chicago Booth School of Business. He also holds the Chartered Financial Analyst® designation. In 2016, Bryan was named a Rising Star at the 23rd Annual Mutual Fund Industry Awards.


Investment Strategy
Morningstar ETFInvestor scans the globe for value and improving fundamentals across virtually all asset classes. Editor Alex Bryan 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 four model portfolios.

The Basic Portfolio harnesses the market's collective wisdom with ultra-low-cost funds and is the baseline portfolio against which the three other portfolios will be compared.

The Defensive Portfolio aims to provide lower volatility, better downside protection, and better risk-adjusted performance than the basic portfolio over the long-term.

The Factor Portfolio is designed to earn higher returns than the basic portfolio over the long-term.

The Income Portfolio attempts to earn a higher distribution yield than the basic portfolio, without taking a lot more risk.

 
About Editor Editor's Photo
Alex Bryan, CFA,
Director of Passive Strategies for North America and Editor
Alex Bryan, CFA, is director of passive strategies for North America at Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. Before assuming his current role in 2016, Bryan spent four years as a manager analyst covering equity strategies.Previously, he was a project manager and senior data analyst in Morningstar's Data department. He joined Morningstar in 2008 as an inside sales consultant for Morningstar Office.
Featured Posts
New Issue: Morningstar Analyst Ratings for Index Funds

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

If the link above doesn’t work, you can download this month's issue by copying this address into your browser: http://etf.morningstar.com/Newsletter.aspx?download=currentIssue

The November issue explores Morningstar’s Analyst Ratings for index funds. These forward-looking ratings reflect the analysts’ assessment of how each fund will likely perform against its category peers or a relevant benchmark over the long term. As such, they are one of our most important deliverables.  

Here you’ll find content about:     

  • Recent methodology changes to the Morningstar Analyst Ratings and what they mean for index funds
  • How the analyst ratings for index funds have done so far
  • Morningstar’s approach for evaluating dividend index strategies
  • Invesco BuyBack Achievers ETF PKW and WisdomTree U.S. Quality Dividend Growth ETF DGRW
  • The impact of including long-term bonds in the Basic Portfolio

New Subscriber’s Guide

We just published a subscriber’s handbook on this site, which is available here: https://etf.morningstar.com/PDF/MEISH2019.pdf. This document outlines the philosophy of the newsletter and the content it features.  

Corrections

  • On the bond watchlist in the September and October issues, a briefcase appeared next to SPDR Bloomberg Barclays High Yield Bond ETF JNK, which erroneously indicated that fund was in the defensive portfolio. That briefcase should have appeared next to Vanguard Short-Term Bond ETF BSV. We’ve uploaded corrected PDF versions on this site.
  • I made a minor correction to the return history for the model portfolios, which will be effective from this issue forward. This affects the backfilled returns for the model portfolios when the portfolio’s inception date preceded a holding’s inception date (based on the index the fund tracks less its earliest fee). Previously, those backfilled returns were calculated with an adjustment to back into the continuously compounded return. We have changed that over to a simple monthly return calculation to be consistent with how our software is calculating the live returns.

Best,

Alex

Most Popular ETFs
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YTD Rtn %
3 Yr Rtn %
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-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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