These are comparable, right?
SUMMARY
INTRODUCTION
Academic research on equity factor performance would lead most investors to focus on the low volatility factor. Data from AQR’s data library shows that this factor, taking Betting-Against-Beta (BAB) as a proxy, has generated the highest returns since 1930: an excess return of 7.4% per annum, compared to 6.2% for momentum, 2.9% for value, and 2.2% for size.