Research notes, written for retail.
No model portfolios for sale. No affiliate links. Just evidence-led writing on the questions European investors actually ask.
- Research
The hidden cost of US-domiciled ETFs for European investors
Withholding tax, accessibility and PRIIPs constraints — why UCITS still wins for almost every retail use case.
Jun 18, 20269 min - Data
20 years of factor returns in Europe — what actually persisted
Value, size, momentum and quality decomposed against MSCI Europe across rolling 10-year windows.
Jun 09, 202612 min - Playbook
Building a three-fund portfolio that respects your tax residence
Country-aware templates for DE, FR, IT, ES and NL — including accumulating vs distributing trade-offs.
May 28, 202611 min - Commentary
Why 'thematic' ETFs underperform their backtests
Survivorship, index reconstitution and the inconvenient timing of fund launches.
May 14, 20267 min
Explore the primary sources behind this lesson.
Lesson-specific sources: original research, regulatory texts, or index methodology — chosen to let you verify the claims in this lesson.
Vanguard — Principles for Investing Success
Long-term investing and portfolio construction.
vanguard.com
Morningstar Manager Research
Independent ETF and fund research.
morningstar.com
S&P Dow Jones — SPIVA U.S. Scorecard
Active vs. passive performance scorecards.
spglobal.com