Betting on different parts of the market is tricky business. That’s one takeaway from a “Periodic Table” of calendar-year returns for Morningstar Factor Indexes.* In any given year, a different group ...

A factor is a financial intermediary that purchases receivables from a company. It agrees to pay the invoice, less a discount for commission and fees.

Investment factors are sources of security return. Factors can be thought of as characteristics that help explain investment behavior. Some of the more popular investment factors are value and size.