Clearly, the market is the primary driver of returns for most large cap funds, regardless if they are passive, smart beta, or active. (swanglobalinvestments.com)
As confirmed in the next chart, our model correctly identified equity risk as being the likely primary driver of returns for both 2015 and 2016. (msci.com)
Factors are broad, persistent drivers of returns across equities and other asset classes. (canadianetfwatch.com)