SMART BETA ETFS: FACTOR SCORES

Measuring the Factor Bang for the Buck

Factor:

Market Cap:

Ticker	Name	Factor	Market Cap	Factor Score	Factor Beta	R2	Fees	AUM ($m)
CFA	VictoryShares US 500 Volatility Wtd ETF	Low Volatility	Large Cap	0.28	0.09	0.94	0.35	798
CSA	VictoryShares US Small Cap Volatility Wtd ETF	Low Volatility	Small Cap	-0.30	-0.10	0.80	0.35	26
DEF	Invesco Defensive Equity ETF	Low Volatility	Total Market	0.80	0.47	0.92	0.59	266
FDLO	Fidelity Low Volatility Factor ETF	Low Volatility	Large Cap	1.36	0.39	0.95	0.29	327
JMIN	JPMorgan U.S. Minimum Volatility ETF	Low Volatility	Large Cap	3.65	0.43	0.59	0.12	107
LGLV	SPDR SSGA U.S. Large Cap Low Volatility Index ETF	Low Volatility	Large Cap	5.50	0.66	0.95	0.12	923
ONEV	SPDR Russell 1000 Low Volatility Focus ETF	Low Volatility	Large Cap	0.96	0.19	0.85	0.20	579
RBUS	Nationwide Risk-Based U.S. Equity ETF	Low Volatility	Large Cap	2.03	0.61	0.64	0.30	118
SMLV	SPDR SSGA U.S. Small Cap Low Volatility Index ETF	Low Volatility	Small Cap	1.59	0.19	0.92	0.12	301
SMMV	iShares Edge MSCI Min Vol U.S.A. Small-Cap ETF	Low Volatility	Small Cap	2.79	0.55	0.83	0.20	400
SPLV	Invesco S&P 500 Low Volatility ETF	Low Volatility	Large Cap	3.83	0.95	0.93	0.25	12,390
USLB	Invesco Russell 1000 Low Beta Equal Weight ETF	Low Volatility	Large Cap	0.68	0.24	0.73	0.35	94
USMV	iShares Edge MSCI Min Vol U.S.A. ETF	Low Volatility	Total Market	4.64	0.69	0.96	0.15	36,030
XMLV	Invesco S&P MidCap Low Volatility ETF	Low Volatility	Mid Cap	2.38	0.59	0.87	0.25	3,610
XRLV	Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF	Low Volatility	Large Cap	2.03	0.50	0.94	0.25	165
XSLV	Invesco S&P SmallCap Low Volatility ETF	Low Volatility	Small Cap	1.42	0.35	0.88	0.25	2,310
DWAQ	Invesco DWA NASDAQ Momentum ETF	Momentum	Total Market	1.62	0.97	0.67	0.60	44
DWAS	Invesco DWA SmallCap Momentum ETF	Momentum	Small Cap	0.98	0.59	0.92	0.60	224
EPS	WisdomTree U.S. LargeCap Fund	Momentum	Large Cap	-1.80	-0.10	0.97	0.08	329
FDMO	Fidelity Momentum Factor ETF	Momentum	Large Cap	1.41	0.41	0.96	0.29	101
JMOM	JPMorgan U.S. Momentum Factor ETF	Momentum	Large Cap	3.04	0.36	0.82	0.12	56
MMTM	SPDR S&P 1500 Momentum Tilt ETF	Momentum	Total Market	1.64	0.19	0.95	0.12	56
MTUM	iShares Edge MSCI U.S.A. Momentum Factor ETF	Momentum	Total Market	2.98	0.44	0.92	0.15	8,890
ONEO	SPDR Russell 1000 Momentum Focus ETF	Momentum	Large Cap	0.33	0.06	0.92	0.20	445
PDP	Invesco DWA Momentum ETF	Momentum	Total Market	0.90	0.55	0.95	0.62	1,640
QMOM	Alpha Architect U.S. Quantitative Momentum ETF	Momentum	Total Market	2.06	1.01	0.85	0.49	59
SPMO	Invesco S&P 500 Momentum ETF	Momentum	Large Cap	3.29	0.42	0.91	0.13	66
XMMO	Invesco S&P Midcap Momentum ETF	Momentum	Mid Cap	1.17	0.45	0.88	0.39	594
XSMO	Invesco S&P SmallCap Momentum ETF	Momentum	Small Cap	1.19	0.46	0.92	0.39	79
AUSF	Global X Adaptive U.S. Factor ETF	Multi-Factor	Total Market	1.52	0.41	0.87	0.27	182
CLRG	IQ Chaikin U.S. Large Cap ETF	Multi-Factor	Large Cap	0.88	0.22	0.69	0.25	252
CSML	IQ Chaikin U.S. Small Cap ETF	Multi-Factor	Small Cap	-0.40	-0.10	0.91	0.35	231
CZA	Invesco Zacks Mid-Cap ETF	Multi-Factor	Mid Cap	0.05	0.04	0.92	0.76	296
DEUS	Xtrackers Russell 1000 Comprehensive Factor ETF	Multi-Factor	Large Cap	4.81	0.81	0.96	0.17	218
FCTR	First Trust Lunt U.S. Factor Rotation ETF	Multi-Factor	Large Cap	1.21	0.78	0.89	0.65	58
FEX	First Trust Large Cap Core AlphaDEX Fund	Multi-Factor	Large Cap	0.92	0.56	0.97	0.61	1,350
FLQL	Franklin LibertyQ U.S. Equity ETF	Multi-Factor	Large Cap	4.11	0.61	0.94	0.15	1,280
FNDA	Schwab Fundamental U.S. Small Company Index ETF	Multi-Factor	Small Cap	0.75	0.18	0.97	0.25	3,680
FNDB	Schwab Fundamental U.S. Broad Market Index ETF	Multi-Factor	Total Market	0.04	0.01	0.95	0.25	295
FNDX	Schwab Fundamental U.S. Large Company Index ETF	Multi-Factor	Large Cap	0.70	0.17	0.96	0.25	5,870
FNX	First Trust Mid Cap Core AlphaDEX Fund	Multi-Factor	Mid Cap	-0.10	-0.10	0.95	0.62	875
FYT	First Trust Small Cap Value AlphaDEX Fund	Multi-Factor	Small Cap	-0.20	-0.20	0.80	0.76	64
FYX	First Trust Small Cap Core AlphaDEX Fund	Multi-Factor	Small Cap	0.00	0.00	0.97	0.66	567
GSLC	Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	Multi-Factor	Large Cap	2.71	0.24	0.99	0.09	7,050
GSSC	Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF	Multi-Factor	Small Cap	0.15	0.03	0.97	0.20	98
IUS	Invesco RAFI Strategic US ETF	Multi-Factor	Large Cap	1.65	0.31	0.22	0.19	128
IUSS	Invesco RAFI Strategic US Small Company ETF	Multi-Factor	Small Cap	0.43	0.09	0.28	0.23	26
JHML	John Hancock Multifactor Large Cap ETF	Multi-Factor	Large Cap	1.00	0.34	0.98	0.34	930
JHMM	John Hancock Multifactor Mid Cap ETF	Multi-Factor	Mid Cap	0.12	0.05	0.98	0.44	1,460
JHSC	John Hancock Multifactor Small Cap ETF	Multi-Factor	Small Cap	0.61	0.30	0.94	0.50	530
JPME	JPMorgan Diversified Return U.S. Mid Cap Equity ETF	Multi-Factor	Mid Cap	0.46	0.11	0.96	0.24	191
JPSE	JPMorgan Diversified Return U.S. Small Cap Equity ETF	Multi-Factor	Small Cap	0.63	0.18	0.96	0.29	144
JPUS	JPMorgan Diversified Return U.S. Equity ETF	Multi-Factor	Large Cap	3.33	0.63	0.97	0.19	810
LRGF	iShares Edge MSCI Multifactor U.S.A. ETF	Multi-Factor	Total Market	1.57	0.31	0.96	0.20	921
LSAF	LeaderShares AlphaFactor U.S. Core Equity ETF	Multi-Factor	Large Cap	0.78	0.59	0.91	0.75	76
MFUS	PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	Multi-Factor	Total Market	1.41	0.41	0.94	0.29	128
OMFL	Invesco Russell 1000 Dynamic Multifactor ETF	Multi-Factor	Large Cap	0.48	0.14	0.85	0.29	1,170
OMFS	Invesco Russell 2000 Dynamic Multifactor ETF	Multi-Factor	Small Cap	-0.40	-0.10	0.67	0.39	59
PRF	Invesco FTSE RAFI U.S. 1000 ETF	Multi-Factor	Large Cap	0.44	0.17	0.96	0.39	5,570
PSC	Principal U.S. Small-Cap Multi-Factor Index ETF	Multi-Factor	Small Cap	0.63	0.24	0.70	0.38	383
PWC	Invesco Dynamic Market ETF	Multi-Factor	Total Market	0.66	0.39	0.89	0.59	149
QUS	SPDR MSCI USA StrategicFactors ETF	Multi-Factor	Total Market	1.07	0.16	0.94	0.15	590
ROUS	Hartford Multifactor US Equity ETF	Multi-Factor	Large Cap	2.17	0.41	0.92	0.19	319
SCIU	Global X Scientific Beta U.S. ETF	Multi-Factor	Large Cap	3.40	0.64	0.96	0.19	96
SMLF	iShares Edge MSCI Multifactor U.S.A. Small-Cap ETF	Multi-Factor	Small Cap	0.85	0.25	0.96	0.30	281
TILT	FlexShares Morningstar US Market Factor Tilt Index Fund	Multi-Factor	Total Market	0.36	0.09	0.97	0.25	1,480
USMC	Principal U.S. Mega-Cap Multi-Factor Index ETF	Multi-Factor	Large Cap	0.33	0.03	0.91	0.12	1,480
USMF	WisdomTree U.S. Multifactor Fund	Multi-Factor	Total Market	2.35	0.65	0.92	0.28	175
VSMV	VictoryShares U.S. Multi-Factor Minimum Volatility ETF	Multi-Factor	Total Market	0.91	0.32	0.78	0.35	158
VUSE	Vident Core U.S. Equity Fund	Multi-Factor	Total Market	0.63	0.31	0.86	0.50	499
EZM	WisdomTree U.S. MidCap Fund	Quality	Mid Cap	0.09	0.03	0.90	0.38	1,150
FQAL	Fidelity Quality Factor ETF	Quality	Large Cap	0.38	0.11	0.96	0.29	150
FTCS	First Trust Capital Strength ETF	Quality	Large Cap	0.47	0.28	0.95	0.60	3,110
JQUA	JPMorgan U.S. Quality Factor ETF	Quality	Large Cap	1.09	0.13	0.89	0.12	108
QARP	Xtrackers Russell 1000 U.S. Quality at a Reasonable Price ET?	Quality	Large Cap	1.54	0.29	0.82	0.19	117
QGRO	American Century STOXX U.S. Quality Growth ETF	Quality	Total Market	1.44	0.41	0.86	0.29	149
QUAL	iShares Edge MSCI U.S.A. Quality Factor ETF	Quality	Total Market	0.52	0.07	0.97	0.15	13,950
SPHQ	Invesco S&P 500 Quality ETF	Quality	Large Cap	1.48	0.22	0.96	0.15	1,650
XMHQ	Invesco S&P Midcap Quality ETF	Quality	Mid Cap	-0.10	0.00	0.83	0.25	26
FDM	First Trust Dow Jones Select MicroCap Index Fund	Size	Small Cap	1.65	0.99	0.32	0.60	145
IJH	iShares Core S&P Mid-Cap ETF	Size	Mid Cap	9.46	0.66	0.17	0.07	51,130
IJR	iShares Core S&P Small-Cap ETF	Size	Small Cap	13.80	0.96	0.26	0.07	45,520
IVOO	Vanguard S&P Mid-Cap 400 ETF	Size	Mid Cap	4.43	0.66	0.17	0.15	965
IWM	iShares Russell 2000 ETF	Size	Small Cap	4.63	0.88	0.22	0.19	45,590
IWR	iShares Russell Mid-Cap ETF	Size	Mid Cap	1.80	0.34	0.08	0.19	20,680
MDY	SPDR S&P Midcap 400 ETF Trust	Size	Mid Cap	2.77	0.66	0.17	0.24	18,850
SCHA	Schwab U.S. Small-Cap ETF	Size	Small Cap	19.50	0.78	0.19	0.04	8,580
SIZE	iShares Edge MSCI U.S.A. Size Factor ETF	Size	Total Market	2.13	0.31	0.08	0.15	431
SLY	SPDR S&P 600 Small Cap ETF	Size	Small Cap	6.45	0.96	0.26	0.15	1,320
VB	Vanguard Small-Cap ETF	Size	Small Cap	13.40	0.67	0.16	0.05	26,190
VO	Vanguard Mid-Cap ETF	Size	Mid Cap	7.39	0.29	0.07	0.04	28,380
VXF	Vanguard Extended Market ETF	Size	Total Market	8.69	0.60	0.14	0.07	7,570
CALF	Pacer U.S. Small Cap Cash Cows 100 ETF	Value	Small Cap	0.61	0.36	0.89	0.59	44
COWZ	Pacer U.S. Cash Cows 100 ETF	Value	Large Cap	1.12	0.55	0.92	0.49	243
DVP	Deep Value ETF	Value	Large Cap	1.51	0.89	0.84	0.59	310
FAB	First Trust Multi Cap Value AlphaDEX Fund	Value	Total Market	0.92	0.65	0.87	0.71	87
FNK	First Trust Mid Cap Value AlphaDEX Fund	Value	Mid Cap	0.91	0.64	0.86	0.70	56
FTA	First Trust Large Cap Value AlphaDEX Fund	Value	Large Cap	0.93	0.57	0.96	0.62	1,140
FTVA	Aptus Fortified Value ETF	Value	Total Market	0.51	0.40	0.86	0.79	68
FVAL	Fidelity Value Factor ETF	Value	Large Cap	0.81	0.23	0.95	0.29	170
FVL	First Trust Value Line 100 ETF	Value	Total Market	-0.40	-0.30	0.84	0.70	38
IJJ	iShares S&P Mid-Cap 400 Value ETF	Value	Mid Cap	1.65	0.41	0.95	0.25	6,470
IJS	iShares S&P Small-Cap 600 Value ETF	Value	Small Cap	1.11	0.27	0.97	0.25	6,490
IUSV	iShares Core S&P U.S. Value ETF	Value	Total Market	5.40	0.21	0.96	0.04	6,510
IVE	iShares S&P 500 Value ETF	Value	Large Cap	1.30	0.23	0.97	0.18	17,070
IVOV	Vanguard S&P Mid-Cap 400 Value ETF	Value	Mid Cap	2.11	0.42	0.94	0.20	745
IWD	iShares Russell 1000 Value ETF	Value	Large Cap	0.99	0.18	0.95	0.19	41,200
IWN	iShares Russell 2000 Value ETF	Value	Small Cap	0.89	0.21	0.97	0.24	9,500
IWS	iShares Russell Mid-Cap Value ETF	Value	Mid Cap	0.58	0.14	0.97	0.24	11,430
IWX	iShares Russell Top 200 Value ETF	Value	Large Cap	0.70	0.14	0.92	0.20	501
JKF	iShares Morningstar Large-Cap Value ETF	Value	Large Cap	0.74	0.18	0.91	0.25	533
JKI	iShares Morningstar Mid-Cap Value ETF	Value	Mid Cap	0.75	0.22	0.86	0.30	484
JKL	iShares Morningstar Small Cap Value ETF	Value	Small Cap	1.06	0.31	0.93	0.30	404
JVAL	JPMorgan U.S. Value Factor ETF	Value	Large Cap	2.91	0.35	0.80	0.12	69
MDYV	SPDR S&P 400 Mid Cap Value ETF	Value	Mid Cap	2.81	0.42	0.95	0.15	1,840
MGV	Vanguard Mega Cap Value ETF	Value	Large Cap	1.78	0.12	0.95	0.07	2,660
NULV	Nuveen ESG Large-Cap Value ETF	Value	Large Cap	0.46	0.16	0.92	0.35	112
NUMV	Nuveen ESG Mid-Cap Value ETF	Value	Mid Cap	0.49	0.19	0.90	0.40	57
PWV	Invesco Dynamic Large Cap Value ETF	Value	Large Cap	0.48	0.26	0.93	0.55	1,030
QVAL	Alpha Architect U.S. Quantitative Value ETF	Value	Total Market	1.67	0.82	0.91	0.49	98
RFV	Invesco S&P MidCap 400 Pure Value ETF	Value	Mid Cap	2.40	0.84	0.84	0.35	159
RPV	Invesco S&P 500 Pure Value ETF	Value	Large Cap	1.70	0.59	0.95	0.35	1,040
RZV	Invesco S&P SmallCap 600 Pure Value ETF	Value	Small Cap	1.70	0.59	0.90	0.35	199
SCHV	Schwab U.S. Large-Cap Value ETF	Value	Large Cap	4.45	0.17	0.95	0.04	6,900
SLYV	SPDR S&P 600 Small Cap Value ETF	Value	Small Cap	1.86	0.28	0.97	0.15	2,350
SPVU	Invesco S&P 500 Enhanced Value ETF	Value	Large Cap	4.85	0.63	0.90	0.13	70
SPYV	SPDR Portfolio S&P 500 Value ETF	Value	Large Cap	5.78	0.23	0.96	0.04	4,490
VBR	Vanguard Small-Cap Value ETF	Value	Small Cap	2.07	0.14	0.96	0.07	14,230
VIOV	Vanguard S&P Small-Cap 600 Value ETF	Value	Small Cap	1.41	0.28	0.96	0.20	410
VLUE	iShares Edge MSCI U.S.A. Value Factor ETF	Value	Total Market	3.10	0.46	0.96	0.15	4,310
VOE	Vanguard Mid-Cap Value ETF	Value	Mid Cap	2.21	0.15	0.97	0.07	9,930
VONV	Vanguard Russell 1000 Value ETF	Value	Large Cap	1.55	0.18	0.95	0.12	2,140
VOOV	Vanguard S&P 500 Value ETF	Value	Large Cap	1.57	0.23	0.96	0.15	1,140
VTV	Vanguard Value ETF	Value	Large Cap	3.75	0.15	0.95	0.04	53,400
VTWV	Vanguard Russell 2000 Value ETF	Value	Small Cap	1.20	0.24	0.94	0.20	279
JSMD	Janus Henderson Small/Mid Cap Growth Alpha ETF	Growth	Mid Cap	1.24	0.43	0.88	0.35	100
IWF	iShares Russell 1000 Growth ETF	Growth	Large Cap	1.20	0.22	0.96	0.19	46,800
VUG	Vanguard Growth ETF	Growth	Large Cap	4.97	0.19	0.96	0.04	43,720
IVW	iShares S&P 500 Growth ETF	Growth	Large Cap	0.49	0.08	0.96	0.18	23,840
SCHG	Schwab U.S. Large-Cap Growth ETF	Growth	Large Cap	5.07	0.20	0.97	0.04	8,590
SPYG	SPDR Portfolio S&P 500 Growth ETF	Growth	Large Cap	2.09	0.08	0.96	0.04	5,040
MGK	Vanguard Mega Cap Growth ETF	Growth	Large Cap	3.48	0.24	0.95	0.07	4,750
VONG	Vanguard Russell 1000 Growth ETF	Growth	Large Cap	1.94	0.23	0.96	0.12	3,140
VOOG	Vanguard S&P 500 Growth ETF	Growth	Large Cap	0.49	0.07	0.96	0.15	2,930
RPG	Invesco S&P 500 Pure Growth ETF	Growth	Large Cap	0.04	0.01	0.93	0.35	2,650
IWY	iShares Russell Top 200 Growth ETF	Growth	Large Cap	1.19	0.23	0.95	0.20	1,590
JKE	iShares Morningstar Large-Cap Growth ETF	Growth	Large Cap	1.26	0.31	0.93	0.25	1,150
FTC	First Trust Large Cap Growth AlphaDEX Fund	Growth	Large Cap	0.31	0.19	0.92	0.61	1,030
PWB	Invesco Dynamic Large Cap Growth ETF	Growth	Large Cap	0.23	0.12	0.91	0.55	700
SPGP	Invesco S&P 500 GARP ETF	Growth	Large Cap	0.64	0.22	0.91	0.35	347
NULG	Nuveen ESG Large-Cap Growth ETF	Growth	Large Cap	0.72	0.25	0.95	0.35	103
IWP	iShares Russell Mid-Cap Growth ETF	Growth	Mid Cap	0.97	0.23	0.95	0.24	10,910
IJK	iShares S&P Mid-Cap 400 Growth ETF	Growth	Mid Cap	0.00	0.00	0.96	0.24	7,280
VOT	Vanguard Mid-Cap Growth ETF	Growth	Mid Cap	1.83	0.12	0.95	0.07	6,610
MDYG	SPDR S&P 400 Mid Cap Growth ETF	Growth	Mid Cap	0.00	0.00	0.95	0.15	1,620
IVOG	Vanguard S&P Mid-Cap 400 Growth ETF	Growth	Mid Cap	0.27	0.05	0.95	0.20	744
JKH	iShares Morningstar Mid-Cap Growth ETF	Growth	Mid Cap	1.23	0.37	0.92	0.30	498
RFG	Invesco S&P MidCap 400 Pure Growth ETF	Growth	Mid Cap	0.48	0.16	0.91	0.35	392
FNY	First Trust Mid Cap Growth AlphaDEX Fund	Growth	Mid Cap	0.54	0.38	0.90	0.70	310
NUMG	Nuveen ESG Mid-Cap Growth ETF	Growth	Mid Cap	0.86	0.34	0.93	0.40	55
VBK	Vanguard Small-Cap Growth ETF	Growth	Small Cap	3.41	0.23	0.92	0.07	9,260
IWO	iShares Russell 2000 Growth ETF	Growth	Small Cap	0.68	0.16	0.96	0.24	9,220
IJT	iShares S&P Small-Cap 600 Growth ETF	Growth	Small Cap	0.08	0.02	0.97	0.25	5,240
SLYG	SPDR S&P 600 Small Cap Growth ETF	Growth	Small Cap	0.14	0.02	0.97	0.15	1,880
VIOG	Vanguard S&P Small-Cap 600 Growth ETF	Growth	Small Cap	0.33	0.06	0.97	0.20	396
VTWG	Vanguard Russell 2000 Growth ETF	Growth	Small Cap	0.94	0.18	0.96	0.20	313
FYC	First Trust Small Cap Growth AlphaDEX Fund	Growth	Small Cap	0.24	0.16	0.94	0.70	235
JKK	iShares Morningstar Small-Cap Growth ETF	Growth	Small Cap	1.57	0.47	0.92	0.30	213
RZG	Invesco S&P SmallCap 600 Pure Growth ETF	Growth	Small Cap	0.52	0.18	0.94	0.35	171
JSML	Janus Henderson Small Cap Growth Alpha ETF	Growth	Small Cap	0.84	0.29	0.81	0.35	38
IUSG	iShares Core S&P U.S. Growth ETF	Growth	Total Market	1.88	0.07	0.96	0.04	7,180
FAD	First Trust Multi Cap Growth AlphaDEX Fund	Growth	Total Market	0.42	0.29	0.90	0.69	182
		Factor	Market Cap

DESCRIPTION

FactorResearch’s Factor Scores are calculated by dividing the factor exposure by the expense ratio, i.e. higher the factor score, the better the value-for-money proposition of an ETF. An investor seeking factor exposure via smart beta ETFs can use Factor Scores to compare products on relative basis.

The exposure represents the factor betas derived from a one-year regression analysis utilising daily data. Our current universe of smart beta ETFs only includes single-factor and multi-factor products in the US, which total 172 and represent a combined market capitalization of $800 billion. Please see the factor definitions below or our Factor Guide for further details on factor construction.

We provide detailed factor exposure reports for ETF, fund and stock portfolios across markets. Please get in touch for further information.

RELATED RESEARCH

How To Evaluate Smart Beta ETFs

Factor Scoring Smart Beta ETFs

Factor	Description	Variables
Value (VAL)	Buy cheap and sell expensive stocks	Combination of price-to-book and price-to-earnings ratios
Size (SIZ)	Buy small and sell large stocks	Current market capitalisation
Momentum (MOM)	Buy winners and sell losers	Return over the past 12 months, excluding the most recent month
Low Volatility (LOV)	Buy less volatile and sell more volatile stocks	Standard deviation over the past 12 months
Quality (QUA)	Buy high and sell low quality companies	Combination of return-on-equity and debt-over-equity ratios
Growth (GRO)	Buy growing and sell declining companies	Combination of 3-year sales per share and earnings per share growth rates

SMART BETA ETFS: FACTOR SCORES

DESCRIPTION

RELATED RESEARCH

DOWNLOAD FACTOR GUIDE

FACTOR DEFINITIONS