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 five 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.

The ESG Portfolio targets firms with strong corporate governance and sustainable environmental and social practices, while offering competitive returns and similar risk to the basic portfolio.

 
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 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.
Featured Posts
New Issue: Checking in on China

The PDF version of the October 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

China looms larger than ever on the world stage and in investors’ portfolios. The country’s economy has grown to become the second-largest on the globe, and its influence has expanded beyond its borders. But decades of rapid economic expansion haven’t translated to commensurate gains for investors.

The Chinese stock market has evolved. In recent years, it has opened up to the outside world. The inclusion of mainland-listed China A-shares in major index providers’ mainline indexes is perhaps the most prominent example of the opening of the Chinese capital market. The Chinese stock market has also become more dynamic. Some of the world’s largest technology companies, like Tencent TCEHY and Alibaba BABA, call China home. And in 2019, the Shanghai Stock Exchange STAR Market was established as China’s equivalent to the Nasdaq: a hub for China’s most innovative firms to raise equity capital.

But as much has changed in China, much remains the same. The Chinese government continues to exert control over economic activity, as evidenced by its recent efforts to pull the plug on for-profit private tutors. The country’s reliance on debt to fuel its growth was again in focus as property developer Evergrande Group edged toward a potential default. So, while opportunities abound, so do risks—big ones.

In this month’s issue, we check in on China.

Here’s a rundown of what else you’ll find in this month’s issue:     

  • This month’s adjusted Income portfolio adds an increment of foreign bond exposure.
  • Spotlights on Freedom 100 Emerging Markets ETF FRDM and KraneShares CSI China Internet ETF KWEB.
  • Daniel Sotiroff makes it clear that the risks facing investors in China are nothing new.
  • Neal Kosciulek provides a handy primer on the Chinese bond market and spotlights the menu of ETFs that own Chinese bonds.

Best,

Ben

P.S. You can now download the Equity Watchlist and Bond Watchlist data from the ETFInvestor Web site. Starting from the home page, simply click on the Equity or Bond Watchlist tab, scroll down to the bottom, and click on the “Download Data” button in the bottom right-hand corner. We hope you enjoy playing with the data as much as we do!

 

 
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Contact Your Editor
 
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 five 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.

The ESG Portfolio targets firms with strong corporate governance and sustainable environmental and social practices, while offering competitive returns and similar risk to the basic portfolio.