VFMF: Vanguard’s Multifactor ETF Is Just Value In Disguise (BATS:VFMF)
oatawa Investment Thesis The Vanguard U.S. Multifactor ETF Shares (BATS:VFMF) is an actively managed ETF emphasizing momentum, quality, and value factors, but its performance since its February 2018 launch could be much better. As I concluded in April, an inconsequential volatility screen and poor quality metrics were to blame, and the purpose of this article…