The key strength of our IC Screens performance dashboard, which we began publishing in April, is its near real-time comparison of most of the rules-based investing strategies tracked in these pages.
Not only can online readers now see how 33 different screens stack up against their benchmarks since inception – as well as over one, three, five and 10 years – but they can weigh different stock-picking methodologies side by side.
Judged on recent evidence, no one style stands out. ‘Quality’ works well in some cases, and not at all in others. A focus on higher-yielding stocks is ahead of the market in one screen and failing in another two. Size, value, and momentum strategies have collectively proven a mixed bag.