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.

 
 
Nov 20, 2017
Welcome !
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: Avoiding Mistakes
The PDF version of the November issue of ETFInvestor is now available for download.
 
The iPad version will be available in approximately 3 business days.
 
This month’s issue is dedicated to the topic of mistakes, how to learn from them (ideally others’), and how to avoid them. Investors spend a massive amount of time trying to make all the right moves. The collective effort dedicated to picking good stocks, managers, exchange-traded funds, and so on, is immense. There are countless books, magazines, newsletters (including this one), podcasts, blogs, television programs, and more dedicated to helping investors make the best possible decisions when it comes to selecting and managing investments. Far less energy and commentary is committed to the topic of how not to make the wrong moves.

In this month’s cover I discuss three common mistakes, all of which I’ve made myself. All three are related in that they are all behavioral issues that have been hard-wired into us over centuries. I also share the potential consequences of these behavioral blunders and how you might be able to avoid them.
 
Also in this issue:
  • Alex Bryan shares mistakes that ETF investors can easily avoid.
  • Adam McCullough illuminates the differences in index providers’ approaches to segmenting the market by size and their implications for portfolio construction.
  • I share the common characteristics of failed exchange-traded products.
  • I discuss why Income and Asset Allocation Portfolio holding iShares Edge MSCI Minimum Volatility Emerging Markets ETF EEMV has lagged during this year’s emerging-markets rally.
  • Alex Bryan profiles iShares Russell 2000 ETF IWM, which carries a Morningstar Analyst Rating of Bronze.
  • Daniel Sotiroff shares his analysis of Bronze-rated Vanguard International High Dividend Yield ETF VYMI.
  • In this month’s Sector Snapshot, I look at the drivers of tech stocks’ biggest monthly gains of the year.
 
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 $
2.1
106.3
CASH$
N/A
1.0
22.3
59.8
17.2
71.7
10.9
22.4
9.0
30.2
12.3
48.9
12.6
26.2
9.0
33.5
Global Asset Allocation Portfolio
ETF
YTD Ret %
Price $
2.1
106.3
CASH$
N/A
1.0
22.3
59.8
10.9
22.4
9.0
30.2
12.3
48.9
20.5
44.0
14.5
97.6
12.6
26.2
9.0
33.5
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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