PT - JOURNAL ARTICLE AU - Noël Amenc AU - Frédéric Ducoulombier AU - Felix Goltz AU - Ashish Lodh AU - Sivagaminathan Sivasubramanian ED - Moore, Howard TI - Practical Applications of Diversified or Concentrated Factor Tilts? AID - 10.3905/pa.2016.4.1.166 DP - 2016 Jul 31 TA - Practical Applications PG - 1--4 VI - 4 IP - 1 4099 - https://pm-research.com/content/4/1/1.17.short 4100 - https://pm-research.com/content/4/1/1.17.full AB - Diversified or Concentrated Factor Tilts? Noël Amenc Frédéric Ducoulombier Felix Goltz Ashish Lodh Sivagaminathan Sivasubramanian A number of smart-beta indices have been marketed as tools for investors to tilt their portfolios toward factor exposures, such as size, value, low volatility and momentum, while diversification-based smart-beta products have targeted the other key issue with market-capitalization-based indices—their inefficiency due to excessive concentration in the largest-cap stocks. In an article in The Journal of Portfolio Management , authors Noël Amenc , Frédéric Ducoulombier , Felix Goltz , Ashish Lodh and Sivagaminathan Sivasubramanian evaluated the benefits and costs of diversified versus concentrated factor tilts.