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Vanguard’s Index Funds vs. Vanguard’s Managed Funds: a Nine Style Box and Fama-French Multi-Variable Regression Approach
By Susheel Nalla Many investors struggle to determine whether they want to invest in managed funds or indexed funds when they build portfolio. Vanguard, founded by John Bogle, a strong advocate for indexed investing has seen his company grow to over $3.9 trillion in funds. In the last three years $1 trillion of new money […]
Do Vanguard ETF Investors Make Good Decisions? – Testing the Bogle Hypothesis
By Meng Xie John Bogle, the founder of Vanguard, is a notable opponent of frequent ETF trading. We test his hypothesis that Vanguard investors are not trading ETFs intelligently. A comparison of dollarweighted and time-weighted returns is the typical method used for assessing investor timing. We instead employ Sharpe’s style analysis techniques to compare the […]
