Stratégies de FNB
Quels que soient vos objectifs financiers, nos FNB peuvent vous aider à investir en toute confiance.
Les signaux prospectifs orientent la répartition dynamique des facteurs en fonction des propriétés cycliques.
Processus de placement fondé sur des règles permettant la transparence – pas de construction en « boîte noire »
Complémentaire à la gestion passive et active, offrant une solution novatrice et rentable sur le marché.
La stratégie multifactorielle dynamique cherche à surpasser l’indice de référence FTSE/Russell pondéré en fonction de la capitalisation boursière sur une base de rendement total et corrigé du risque, tout en maintenant un niveau de risque comparable sur un cycle complet de marché.
Nom | Symbole | Catégorie d’actif | Vehicle | Télécharger |
---|---|---|---|---|
Invesco International Developed Dynamic-Multifactor Index ETF | IIMF IIMF.F |
Actions internationales et mondiales | FNB | Fiche de renseignements |
Invesco Russell 1000® Dynamic-Multifactor Index ETF | IUMF IUMF.F |
Actions américaines | FNB | Fiche de renseignements |
Darim Abdullah, stratège ETF, explique le fonctionnement de l'approche dynamique multifactorielle d'Invesco, en quoi elle diffère des autres stratégies factorielles et pourquoi les investisseurs devraient les envisager pour leurs portefeuilles.
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In Canada, we have two Dynamic-Multifactor ETFs. One provides exposure to the broader U.S. equity market and comes with the ticker IUMF, and the other provides exposure to the broad developed international equity market and comes with the ticker IIMF.
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Both ETFs are core diversified and broad-based strategies that employ a rules-based process to take advantage of their changing market environment.
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First, leveraging Invesco's macro-regime Framework, the first step of the process involves identifying the current economic regime. Or more simply put - the stage of the business cycle.
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These stages can be identified as: recovery, expansion, slowdown or contraction. Once the current economic regime is determined, each regime is mapped to historically rewarded factors or investment styles. The portfolio construction then involves dynamically adjusting the ETFs underlying holdings’ targeting those highly exposed to the factors or investment styles favored by the current economic regime.
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Let's provide an example. During an economic recovery, the ETFs would be tilted towards holdings that are relatively undervalued and smaller in size, targeting the value and size factors which have historically done well during an economic recovery.
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And during an economic slowdown, The ETFs would adjust their holdings and be tilted towards holdings that exhibit strong defensive attributes, such as low volatility and quality factors.
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In essense, the ETF is dynamic and making changes to its underlying holdings to better fit the economic regime we’re in and how to navigate the market, uncertainty.
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We believe that our Dynamic-Multifactor ETFs are uniquely differentiated from other factor-based strategies via two angles. First, there will be at least two targeted factor exposures and sometimes three at any given point in time. This multifactor approach differentiates our ETFs from other single factor based strategies out there.
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So this begs the question “Why is it important to think about factors together rather than on a standalone basis”? We believe this is important because many of these factors tend to have low to negative correlation to one another, and by using multiple factors, we can reap the potential diversification benefits of bringing them together.
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The second way over ETFs our differentiated is that within the multifactor framework, the strategy is truly dynamic and moving from one set of factors to another depending on the economic regime we are in.
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So, this sets it apart from other multifactor strategies that tend to be more static in nature. The dynamic overlay, driven by Invesco's macro regime framework, has been a key driver for returns for the strategies since their inception.
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We believe that Invesco Dynamic-Multifactor Strategies provide cost-effective alpha, targeting, broad U.S. and international equity exposures. Since the inception of the underlying indices that have delivered excess returns on top of broad-based market indices such as the S&P 500 and the MSCI EAFE.
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This was coupled with downside risk mitigation as evident, and they down-capture ratios. The ability of the strategy to position itself into more defensive holdings exhibiting low volatility and high-quality factors when markets are expected to be challenged has provided an attractive down-capture ratio.
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This was particularly helpful for the US equity strategy in 2022, considered by many as one of the most challenging year for investors in recent history.
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The US equity strategy delivered an excess return of 4.87% on top of the broad based S&P 500 index. Investors may seek to benefit from such an active and cost-effective approach in light of the uncertain market backdrop we've been experiencing.
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Whether you are an investor who wants to capitalize on an economic recovery or reduce your investment risk associated with economic downturns, Invesco’s Dynamic-Multifactor ETFs can potentially help you alleviate the need to tactically make changes to your investments by providing you with a streamlined approach to navigating the U.S.
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and international equity markets, regardless of their direction.
Facteurs cycliques et expositions différentes au risque économique. Le cadre évoluera au fil des cycles de marché, selon chaque régime, dans le cadre d’une approche tactique de répartition factorielle.
Régime macroéconomique | Préférences factorielles | Taille | Valeur | Momentum | Volatilité | Qualité |
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Reprise | La croissance est inférieure à la tendance et s’accélère | X | X | |||
Expansion | La croissance est supérieure à la tendance et s’accélère | X | X | X | ||
Ralentissement | La croissance est supérieure à la tendance et ralentit | X | X | |||
Contraction | La croissance est inférieure à la tendance et ralentit | X | X | X |
Cyclicalité des facteurs
Nous croyons que :
Stratégies de FNB
Quels que soient vos objectifs financiers, nos FNB peuvent vous aider à investir en toute confiance.
Titres à revenu fixe
Des solutions de titres à revenu fixe axées sur le client qui vous aident à composer avec le monde des placements obligataires, qui est en constante évolution.
Actions américaines
Faites confiance à Invesco pour accéder à la plus grande économie du monde.
Selon les caractéristiques fondamentales de la taille, de la valeur, du momentum, de la faible volatilité et de la qualité. Rien ne garantit que ces objectifs seront atteints ou qu’une stratégie de placement sera fructueuse. Les investisseurs doivent garder à l’esprit que les marchés boursiers sont volatils et imprévisibles. Rien ne garantit que le rendement historique d’un placement, d’un portefeuille ou d’une catégorie d’actif aura une corrélation directe avec son rendement futur. Source : Invesco Investment Solutions.
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