Market Beta is a Commodity. Don't Overpay. 

Benchmarks vary in their methodologies and index parameters. Some aim to reflect only the higher end of the market, while others provide a more comprehensive view. Despite these and other nuances, we see that several benchmarks delivered nearly identical returns in February 2018.

In this paper, you will learn:
  • Why investors should be paying as little as possible for market beta
  • How two case studies show that market benchmarks are essentially interchangeable
  • Ways Morningstar’s Open Indexes Project is making benchmarking more accessible