The Challenges Of Multi Factor Funds

Blending several equity factors into one fund can be difficult to pull off in terms of capturing the intended effect. A good example/microcosm from Friday with the Invesco S&P 500 Multi-Factor ETF (QVML). The ticker symbol tells you the factors; quality, value and momentum for large cap stocks. The first three fund target quality, value and momentum respectively. I did a quick review of QVML in…