Aye Soe

Senior Director, Global Research & Design
S&P Dow Jones Indices
Biography

Aye M. Soe is Senior Director, Global Research & Design, at S&P Dow Jones Indices. In this capacity, Aye heads up the Americas research team. The group is responsible for conceptualization, research, and design of the S&P global equity, fixed income, commodities, volatility (VIX futures based), multi asset, sustainability (ESG) and alternative asset strategy indices. Aye also regularly publishes on a number of headline S&P publications as well as research papers related to capital markets and investment concepts.

Aye is an Adjunct Professor of Finance at Hofstra University’s Frank G. Zarb School of Business, teaching MBA courses on Portfolio Theory and Investment Analysis.

Prior to joining S&P Dow Jones Indices in 2007, Aye was a research analyst within the Consulting Services Group at Morgan Stanley Private Wealth Management and an associate product manager at FactSet Research Systems.

She is a CFA Charter holder, a member of the New York Society of Security Analysts (NYSSA), and the CFA Institute. Aye has a bachelor’s degree in economics from Tufts University and a master’s degree in economics from Fordham University.

Author Archives: Aye Soe

Manager Outperformance: Is it Luck or Skill?

Over the years, we frequently hear from our SPIVA® and Persistence Scorecard readers that they have found their star manager or their own Warren Buffet—someone who can successfully beat the benchmark repeatedly.  Based on our 15 years of publishing the SPIVA U.S. Scorecard, we know that, on average, around 20% to 30% of domestic equity Read more […]

Impact of Rising Interest Rates on Small-Cap Indices

Rising interest rates certainly has become a central investment theme going into 2017.  The 10-Year Treasury yield closed at 2.48% on Jan. 27, 2017, representing an increase of nearly 103 bps from six months ago.  Research has shown that equities tend to perform better following a rate hike, if inflation levels are moderate.  However, return Read more […]

Quality: A Driving Factor of Small-Cap Returns

Much has been written about the performance differential between the two leading small-cap indices, the S&P SmallCap 600® and Russell 2000.  Over a long-term investment horizon, the S&P SmallCap 600 has outperformed the Russell 2000 with less risk.  Part of the performance differential can be attributed to the June Russell rebalancing effect.  As winners from Read more […]

The Hunt for Consistent Income

The hunt for stable income is an increasingly challenging task.  Bond yields across major fixed income markets are at historically low levels, with some of the central banks in developed countries even going as far as adopting a negative rates policy.  Together with an aging population that is living longer and relies predominantly on fixed Read more […]

The SPIVA® Scorecard: More Than the Sum of Its Parts

The active versus passive debate has been going on for years and has inspired passionate supporters on both sides.  As a way to provide market participants with objective information, S&P Dow Jones Indices started publishing the S&P Indices Versus Active (SPIVA) Scorecard for the U.S. in 2002.  The scorecard measures the performance of actively managed Read more […]

Does Market Volatility Favor Active Management? Evidence From the 2015 Year-End 2015 SPIVA® U.S. Scorecard

Twice a year, S&P Dow Jones Indices releases the SPIVA U.S. Scorecard.  The scorecard measures the performance of actively managed equity and fixed income funds across various categories.  Since the initiation of the report in 2002, the results have consistently shown that managers across most categories overwhelmingly underperform on a relative basis against their corresponding Read more […]

The Impact of Currency Exposure: Evidence From the Performance of Actively Managed Global Equity and Bond Funds

In the past 18 months, currency hedging has become one of the hottest topics in the investment community.  As the U.S. economy strengthens and decouples from the rest of the developed and emerging economies, and as there is unprecedented quantitative easing by the Bank of Japan and the European Central Bank, it is nearly inevitable Read more […]

A Tale of Two Benchmarks: S&P SmallCap 600® vs. Russell 2000®

This is a series of blog posts relating to the in depth analysis of performance differential between the S&P SmallCap 600 and the Russell 2000. Benchmarks are designed to represent a passive strategy in a given universe. Given that purpose, the risk/return profiles among various benchmarks in the same universe should be relatively similar in Read more […]

Active vs. Passive: How to keep score of the ongoing debate

At the heart of the active versus passive management debate lays the theoretical underpinning that the average return of both actively and passively managed assets must equal the aggregate market, thereby making it a zero-sum game. Since the costs of active management typically exceed those of passive management, the average actively managed dollar will underperform Read more […]

SPIVA U.S Scorecard: Measuring the Effectiveness of Passive Equity Investing in the US

The SPIVA U.S Scorecard, published twice a year, is a de facto scorekeeper of the active versus passive debate. It measures the performance of the actively managed domestic equity funds across the various market capitalizations and styles. The results for the 2014 mid-year Scorecard are in and reveal very few surprises. Here are some of Read more […]