Publications [#357303] of Edward Tower

Journal Articles

1. McCarthy, JE; Tower, E, Static Indexing Beats Tactical Asset Allocation, Journal of Index Investing, vol. 11 no. 4 (March, 2021), pp. 41-52 [doi]
   (last updated on 2024/04/24)

   Abstract:
   How do tactical asset allocation funds compare with a portfolio of index ETFs having the same investment style and bond-A nd foreign-market-augmented same-style Fama-French benchmarks? The authors find that portfolios of equally weighted TAA funds under-returned corresponding portfolios of index ETFs by gaps ranging from 1.77% to 5.15% per year, and corresponding Fama-French benchmarks by gaps ranging from 1.92% per year to 5.08% per year.