Wenli Bill Hao
Director, Factors and Dividends Indices, Product Management and Development, S&P Dow Jones Indices
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Director, Factors and Dividends Indices, Product Management and Development, S&P Dow Jones Indices
Wenli Bill Hao is Director, Factors and Dividends Indices, Product Management and Development, at S&P Dow Jones Indices (S&P DJI). In his role, he focuses on alternate beta strategies, including factor-based indices as well as dividend, quantitative, thematic and dynamic-allocation strategies. Bill works closely with Sales, Marketing, Global Research & Design and IMPG departments to bring new ideas to market.
Prior to his current role, he worked for five years in Global Research & Design at S&P DJI and was responsible for the conceptualization, research and design of global strategies. He specialized in factor, alternative beta and thematic equity indices.
Prior to joining S&P DJI in 2017, Bill had 10 years of experience in quantitative equity research and investment and 17 years of experience in quant analytics. Bill was a senior portfolio manager at Winsight Global Asset Management. Before that, he held senior investment manager and quant analyst positions in investment and research at ING Investment Management, Asia Pacific region. Bill also worked as a quantitative analyst at Panagora Asset Management and lead research analyst at Liberty Mutual Insurance Group.
Bill holds a bachelor’s degree in engineering from Northeastern University of China, a master’s degree in biostatistics from the University of Minnesota, and an MBA in finance from Cornell University.
Momentum strategies, which tend to thrive in trending markets, have recently delivered strong performance due to continued economic strength and positive market sentiment. In the past 12 months, the S&P 500® Momentum Index posted notable outperformance compared with some other S&P 500 factors, as well as the S&P 500 itself (see Exhibit 1). In this…
With the 10-year U.S. Treasury yield hovering around 4.5%, investors may be able to find attractive yields without taking on too much risk. The challenge, however, is maintaining purchasing power relative to inflation (USD 1,000 in December 1999 was only worth USD 538 as of March 2024). For those seeking income and total returns that…
Launched in February 2019, the S&P 500® GARP Index was the first transparent benchmark tracking growth companies that are identified as being higher quality with lower valuations. Given the success of this index, we launched the S&P MidCap 400® GARP Index and S&P SmallCap 600® GARP Index to expand the available toolkit. Since their launches…
As investments in artificial intelligence continue to boom, major indices in the U.S., Europe and Japan have hit all-time highs. In our previous blog, we reviewed how the S&P U.S. Quality Indices outperformed their corresponding benchmarks over both the short and the long term. Similarly, a quality premium also exists in developed ex-U.S. equity markets….
The S&P 500® Dividend Aristocrats® seeks to track an elite group of companies that have raised their dividends for a minimum of 25 consecutive years. This index has just concluded its annual reconstitution, which was effective at the market close on Jan. 31, 2024. Fastenal has been added, while Walgreens is out, which keeps the…
As the leading dividend index provider, S&P DJI is constantly looking for new approaches and methodologies to bring novel ideas to the market. Our recently launched S&P 500® High Dividend Growth Index is a prime example of this innovative thinking, as it incorporates a forward-looking assessment into its methodology. This index tracks companies in the…
Thus far this year, about two-thirds of the S&P 500®’s rally has been driven by growth stocks and the so-called “Magnificent Seven” tech stocks. While the quality factor is traditionally viewed as defensive, it has kept pace with the market while many other factor strategies have underperformed (see Exhibit 1). Part of the reason for…
For market participants seeking to measure small-cap, multi-factor equity premia with greater diversification and historically lower tracking error (TE), S&P DJI has recently launched the S&P SmallCap 600® Quality, Value, Momentum and Low Volatility (QVML) Top 90% Multi-Factor Index. In this blog, we will examine the index construction methodology, historic performance, sector composition and factor…
The S&P 500® GARP (Growth at a Reasonable Price) Index was launched in February 2019 to strike a balance between pure growth and pure valuation. Due to its popularity among market participants, this index series has recently been expanded to include the S&P MidCap 400® GARP Index and the S&P SmallCap 600 GARP® Index. The…
As persistently high inflation, high interest rates and geopolitical risks continue to dominate the macro environment, the S&P 500® Revenue-Weighted Index, S&P MidCap 400® Revenue-Weighted Index and S&P SmallCap® 600 Revenue-Weighted Index have outperformed their corresponding float-adjusted market-capitalization (FMC) weighted indices by more than 5% during the past one-year period (see Exhibit 1). In this…