TY - JOUR T1 - Is Smart Beta Really Smart? JF - The Journal of Portfolio Management SP - 127 LP - 134 DO - 10.3905/jpm.2014.40.5.127 VL - 40 IS - 5 AU - Burton G. Malkiel Y1 - 2014/09/30 UR - https://pm-research.com/content/40/5/127.abstract N2 - There is a popular new investment strategy in portfolio management called smart beta. With a catchy title and a promise of improved portfolio performance, the strategy has already attracted hundreds of billions of dollars and is growing by leaps and bounds. Unfortunately, according to the author smart beta portfolios do not consistently outperform and when they do produce appealing results, they flunk the risk test.TOPICS: Portfolio management/multi-asset allocation, financial crises and financial market history, volatility measures ER -