Journal & Working Papers

Insights
Solutions
Tools
- Asset Allocation Interactive
- AAI Hub
Advisors
How to Invest
- Mutual Funds & ETFs
- Institutional, SMAs, and Commingled
About Us

Search

Join 50,000+ investment professionals who trust our insights.

SUBSCRIBE

Subscribe for our Latest Insights

Insights
Publications
Journal Papers
RA Multimedia
Explore Smart Beta
ESG Investing

Advisors

Solutions

Tools
Asset Allocation Interactive
AAI Hub

How to Invest
Mutual Funds & ETFs
Institutional, SMAs, and Commingled

About Us
Overview
Our Team
Careers
Technology
Contact Us
In the News

Regions
Global
UK/Europe

Legal
Privacy Policy
Terms of Use
Disclosures

© 2024 Research Affiliates, LLC. All Rights Reserved.

Cookies Disclaimer

The content provided on this website is informational, subject to change and is not investment advice or any offer or solicitation for the purchase or sale of investments. Any use of this content is subject to and evidence of the user’s acceptance of all important legal disclosures, disclaimers, terms of use and provisions found at https://www.researchaffiliates.com/en_us/legal/privacy-policy, including the user’s complete release of liability for any use of the content, which may contain inaccuracies.

This site uses cookies on our website to distinguish you from other users of our website. Our objective is to optimize your experience when you browse our website and to continually improve our site. Consenting to the use of these conditions is not a condition of using the website, however, if you do not consent, you will be redirected to a static website with limited information. Please select “Accept” if you consent to our use of cookies, pursuant to our Cookies Policy, during your visit to our website. Otherwise, please select “Decline” if you do not consent to our use of cookies during your visit to our website. A copy of our Cookies Policy can be found at https://www.researchaffiliates.com/en_us/legal/privacy-policy.

Decline Accept

Disclaimer

You are now leaving the Research Affiliates, LLC website. The following link may contain information concerning investments, products or other information. Research Affiliates, LLC is not responsible for the accuracy or completeness of information on non-affiliated websites and does not make any representation regarding the advisability of investing in any investment fund or other investment product or vehicle. Importantly, Research Affiliates, LLC is not compensated for linking you to any non-affiliated website and instead is only compensated with an asset-based fee as either a licensor of intellectual property or a sub-adviser to an investment adviser. The material available on non-affiliated websites has been produced by entities that are not affiliated with Research Affiliates, LLC. Descriptions of, references to, or links to products or publications within any non-affiliated linked website does not imply endorsement or recommendation of that product or publication by Research Affiliates, LLC. Any opinions or recommendations from non-affiliated websites are solely those of the independent providers and are not the opinions or recommendations of Research Affiliates, LLC, which is not responsible for any inaccuracies or errors. THIS INFORMATION IS NOT AN OFFER TO BUY OR A SOLICITATION TO SELL ANY SECURITY OR INVESTMENT PRODUCT. SUCH AN OFFER OR SOLICITATION IS MADE ONLY BY THE SECURITIES’ OR INVESTMENT PRODUCTS’ ISSUER OR SPONSOR THROUGH A PROSPECTUS OR OTHER OFFERING DOCUMENTATION.

CANCEL PROCEED