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.

 
 
Jun 20, 2018
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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: The Evolution of the Chinese Market

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

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

China is opening its doors to foreign investors. MSCI has just added China A-shares to its global suite of equity benchmarks for the first time, and onshore Chinese bonds are making their debut in well-known bond bogies. While the near-term impact of these changes will be negligible for many investors, they are the first small steps in what will likely be a long journey toward greater participation in global capital markets by the world’s second-largest economy. I expect the long-term invest­ment implications will be meaningful.

This issue features a pair of articles authored by my colleague Jackie Choy, CFA. Jackie is Morningstar’s director of ETF research in Asia. He is based in Hong Kong and has been monitoring these developments closely for years. In this month’s cover article, he provides us with a look at how the Chinese equity market has evolved through the decades and shares his thoughts on how it will continue to change in the future.

Also in this issue:

  • Jackie looks discusses the implications of the inclusion of renminbi-denominated bonds to the Bloomberg Barclays Global Aggregate Index.
  • I look at the menu of Chinese equity ETFs.
  • I share an updated list of my favorite free investing tools.
  • Daniel Sotiroff profiles iShares Core MSCI Emerging Markets ETF IEMG, which carries a Morningstar Analyst Rating of Bronze.
  • Daniel also shares his analysis of Neutral-rated Schwab Fundamental Emerging Markets Large Company ETF FNDE.
  • In this month's Sector Snapshot, I share our equity analysts’ take on the news that moved markets in June.

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 $
-3.1
102.7
CASH$
N/A
1.0
-3.4
58.7
-2.3
71.3
5.4
23.6
5.7
31.8
-1.6
50.3
-2.3
27.3
-3.3
31.8
Global Asset Allocation Portfolio
ETF
YTD Ret %
Price $
-3.1
102.7
CASH$
N/A
1.0
-3.4
58.7
5.4
23.6
5.7
31.8
-1.6
50.3
-2.5
43.8
1.6
103.7
-2.3
27.3
-3.3
31.8
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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