Negli ultimi anni, le strategie d’investimento smart-beta si sono rapidamente diffuse nel settore azionario e stanno guadagnando terreno anche nei comparti azionari e delle materie prime. Non si tratta dunque di una moda passeggera ma di un nuovo approccio d’investimento.
Smart Beta ETF
A diversified offering based on a systematic investment process embedded in a transparent index methodology.
The term ‘smart beta’ refers to indices for which the selection process and the weighting of individual securities may be based on specific criteria (valuation, volatility, dividends…) which set them apart from traditional market cap indices for instance.
The BNP Paribas Smart Beta ETF range is divided into two categories:
• Factor investing by BNP Paribas
• Other smart-beta strategies.
Factor investing by BNP Paribas
This includes ETFs replicating indices that are following a factor approach based on academic research and on the expertise of the financial engineering teams of BNP Paribas.
These indices seek to identify real and recurring sources of performance and transform them into easily exploitable investment factors.
These indices are calculated and published by Solactive AG.
Other Smart-beta strategies
This comprises smart-beta ETFs replicating indices that are based either on specific themes such as dividends or have been developed with external BNP Paribas partners.
- Low Volatility
Exploit the low volatility anomaly (i.e. the trend of the least volatile securities to outperform over a long period of time on a risk-adjusted basis).
Use valuation (for example, book value per share) as an investment criterion to acquire an asset at a moderate price.
Overweight corporate securities with profitable business models and good financial health.
Overweight securities that have outperformed recently and underweight those that have underperformed, in order to ride the current major trends.