Get Indexology® Blog updates via email.


Tag Archives: Craig Lazzara

Mar 22, 2023

Measuring Home Prices

Compared to stock and bond markets, where prices update continuously throughout the trading day, the value of residential real estate is hard to observe; and while one buyer’s shares of stock XYZ are interchangeable with another’s, houses are not similarly fungible. Yet the value of an investor’s house is often a significant component of his…

READ

Feb 27, 2023

Collections of Factors

Traditional investors think of portfolios (whether active or indexed) as collections of stocks. We can equally well think of portfolios as collections of factors—defining factor in the academic sense, as an attribute with which excess returns are thought to be associated. If we’re correct in assessing these attributes, it should be possible to explain portfolio…

READ

Feb 16, 2023

Peak Passive and Market Efficiency

With more than $7 trillion tracking the S&P 500 alone, we estimate that index funds now encompass between a quarter and a third of the capitalization of the U.S. equity market. This extraordinary growth must surely rank as one of the most important developments in contemporary financial history. When will it end? For at least…

READ

Feb 15, 2023

Active Performance Shortfalls and the Rise of Passive

Why did indexing take root and how has it grown so far so fast? S&P DJI’s Craig Lazzara and Anu Ganti take a closer look at why indexing works, the size of the passive market today, and the historical savings linked to indexing.

READ

Feb 9, 2023

Exploring the Defensive Advantage

Take a closer look at the participation and protection characteristics of sector and defensive factor indices with S&P DJI’s Craig Lazzara and Anu Ganti.

READ

Jan 30, 2023

What Performance Reversals Suggest

Investment results in 2022 were distinctly different from those of the recent past. The S&P 500®, which had doubled in the three years between 2019 and 2021, fell by more than 18% last year, and Exhibit 1 shows that there were regime shifts among factor indices as well. The dominance of Value over Growth in…

READ

Jan 26, 2023

Surveying Style Indices

How can index construction inform style selection? S&P DJI’s Craig Lazzara takes a closer look at the S&P Style and S&P Pure Style Indices and how these different approaches to indexing Growth and Value are designed to help advisors align strategies with client objectives.

READ

Jan 11, 2023

Style Chicken or Sectoral Egg?

Anyone who has perused our S&P 500® Factor Dashboard for December 2022 (and it’s a shame if you have not) will recognize Exhibit 1 below. The horizontal axis represents the difference between the weighted average value and growth scores (at the beginning of 2022) for each of the 17 factor indices in our dashboard, while…

READ

Jan 10, 2023

SPIVA and the Case for Indexing

What’s driving the rise of passive investing? Take a deep dive into the active vs. passive debate as S&P DJI’s Craig Lazzara explores what two decades of SPIVA has to say about why active has historically tended to underperform passive around the world.

READ

Dec 12, 2022

Examining the Effectiveness of Defensive Strategy Indices

What does history have to say about the effectiveness of factor indices as defensive tools? S&P DJI’s Craig Lazzara explores defense beyond bonds and how defensive factors influence risk/return in different market environments.

READ


Get Indexology® Blog updates via email.

Indexology® Blog
Contributors

SEE ALL