{"id":30308,"date":"2023-12-07T09:09:17","date_gmt":"2023-12-07T09:09:17","guid":{"rendered":"https:\/\/masterskills.org\/blog\/dau-tu-theo-yeu-to-factor-investing-la-gi-cac-yeu-to-nen-tang-cua-dau-tu-theo-yeu-to.html"},"modified":"2023-12-23T06:12:44","modified_gmt":"2023-12-22T23:12:44","slug":"dau-tu-theo-yeu-to-factor-investing-la-gi-cac-yeu-to-nen-tang-cua-dau-tu-theo-yeu-to","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/dau-tu-theo-yeu-to-factor-investing-la-gi-cac-yeu-to-nen-tang-cua-dau-tu-theo-yeu-to.html","title":{"rendered":"\u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1 (Factor Investing) l\u00e0 g\u00ec? C\u00e1c y\u1ebfu t\u1ed1 n\u1ec1n t\u1ea3ng c\u1ee7a \u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1"},"content":{"rendered":"
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Hi\u0300nh minh ho\u0323a. Ngu\u00f4\u0300n: Youtube<\/p>\n<\/figcaption><\/figure>\n

\u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1<\/font><\/h2>\n

Kha\u0301i ni\u00ea\u0323m<\/b><\/p>\n

\u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1<\/b> trong ti\u00ea\u0301ng Anh la\u0300 Factor Investing.<\/b><\/p>\n

\u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1 <\/b>l\u00e0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c l\u1ef1a ch\u1ecdn ch\u1ee9ng kho\u00e1n d\u1ef1a tr\u00ean c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m c\u00f3 th\u1ec3 mang \u0111\u1ebfn l\u1ee3i nhu\u1eadn cao h\u01a1n.\u00a0<\/p>\n

C\u00f3 hai lo\u1ea1i y\u1ebfu t\u1ed1 ch\u00ednh th\u00fac \u0111\u1ea9y l\u1ee3i nhu\u1eadn c\u1ee7a c\u1ed5 phi\u1ebfu, tr\u00e1i phi\u1ebfu v\u00e0 c\u00e1c y\u1ebfu t\u1ed1 kh\u00e1c l\u00e0: y\u1ebfu t\u1ed1\u00a0kinh t\u1ebf v\u0129 m\u00f4\u00a0v\u00e0 y\u1ebfu t\u1ed1 phong c\u00e1ch \u0111\u1ea7u t\u01b0.\u00a0<\/p>\n

Y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 ch\u1ec9 c\u00e1c r\u1ee7i ro \u0111\u01b0\u1ee3c \u0111\u1ecbnh ngh\u0129a r\u1ed9ng h\u01a1n, c\u00f3 t\u00e1c \u0111\u1ed9ng tr\u00ean c\u00e1c\u00a0l\u1edbp t\u00e0i s\u1ea3n\u00a0kh\u00e1c nhau. Trong khi c\u00e1c y\u1ebfu t\u1ed1 phong c\u00e1ch \u0111\u1ea7u t\u01b0 gi\u1ea3i th\u00edch ph\u1ea7n l\u1ee3i nhu\u1eadn v\u00e0 r\u1ee7i ro trong c\u00e1c l\u1edbp t\u00e0i s\u1ea3n ri\u00eang bi\u1ec7t. \u00a0\u00a0<\/p>\n

M\u1ed9t s\u1ed1 y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 ph\u1ed5 bi\u1ebfn bao g\u1ed3m t\u00edn d\u1ee5ng,\u00a0<\/i>l\u1ea1m ph\u00e1t\u00a0v\u00e0\u00a0<\/i>m\u1ee9c thanh kho\u1ea3n, trong khi c\u00e1c y\u1ebfu t\u1ed1 phong c\u00e1ch \u0111\u1ea7u t\u01b0 l\u00e0 phong c\u00e1ch, gi\u00e1 tr\u1ecb v\u00e0 \u0111\u1ed9ng l\u1ef1c ho\u1ea1t \u0111\u1ed9ng c\u1ee7a c\u00f4ng ty ph\u00e1t h\u00e0nh ch\u1ee9ng kho\u00e1n. \u00a0 \u00a0\u00a0<\/i><\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m \u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1\u00a0<\/font><\/h3>\n

\u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1<\/b>, tr\u00ean l\u00ed thuy\u1ebft \u0111\u01b0\u1ee3c t\u1ea1o ra \u0111\u1ec3 t\u0103ng c\u01b0\u1eddng\u00a0s\u1ef1 \u0111a d\u1ea1ng h\u00f3a, t\u1ea1o ra l\u1ee3i nhu\u1eadn tr\u00ean th\u1ecb tr\u01b0\u1eddng c\u0169ng nh\u01b0 qu\u1ea3n l\u00ed r\u1ee7i ro cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n

\u0110a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 t\u1eeb l\u00e2u \u0111\u00e3 l\u00e0 m\u1ed9t chi\u1ebfn thu\u1eadt ph\u00f2ng ng\u1eeba r\u1ee7i ro ph\u1ed5 bi\u1ebfn, nh\u01b0ng l\u1ee3i \u00edch c\u1ee7a vi\u1ec7c \u0111a d\u1ea1ng h\u00f3a s\u1ebd b\u1ecb m\u1ea5t \u0111i n\u1ebfu l\u1ef1a ch\u1ecdn ch\u1ee9ng kho\u00e1n d\u1ecbch chuy\u1ec3n s\u00e1t theo h\u01b0\u1edbng c\u1ee7a c\u00e1c th\u1ecb tr\u01b0\u1eddng r\u1ed9ng h\u01a1n.\u00a0<\/p>\n

V\u00ed d\u1ee5 nh\u01b0 c\u00e1c danh m\u1ee5c \u0111\u1ea7u t\u01b0 k\u1ebft h\u1ee3p c\u00e1c lo\u1ea1i c\u1ed5 phi\u1ebfu v\u00e0 tr\u00e1i phi\u1ebfu \u0111\u1ec1u gi\u1ea3m gi\u00e1 tr\u1ecb khi m\u1ed9t s\u1ed1 \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng ph\u00e1t sinh.\u00a0<\/i><\/p>\n

\u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1 b\u00f9 \u0111\u1eafp c\u00e1c r\u1ee7i ro ti\u1ec1m \u1ea9n b\u1eb1ng c\u00e1ch \u0111\u01b0a ra c\u00e1c m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 d\u1ef1a tr\u00ean c\u00e1c nh\u00e2n t\u1ed1 t\u1ea1o ra l\u1ee3i nhu\u1eadn t\u1ed5ng quan h\u01a1n, li\u00ean t\u1ee5c v\u00e0 \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn r\u1ed9ng r\u00e3i. \u00a0\u00a0<\/p>\n

\u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1 s\u1ebd c\u00f3 v\u1ebb \u00e1p \u0111\u1ea3o v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 h\u01a1n do s\u1ed1 l\u01b0\u1ee3ng c\u00e1c y\u1ebfu t\u1ed1 nhi\u1ec1u h\u01a1n, so v\u1edbi c\u00e1c chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 danh m\u1ee5c \u0111\u1ea7u t\u01b0 truy\u1ec1n th\u1ed1ng, nh\u01b0 60% c\u1ed5 phi\u1ebfu v\u00e0 40% tr\u00e1i phi\u1ebfu.\u00a0<\/p>\n

Nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f2n b\u1ee1 ng\u1ee1 v\u1edbi chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1 n\u00ean t\u1eadp trung v\u00e0o c\u00e1c y\u1ebfu t\u1ed1 \u0111\u01a1n gi\u1ea3n h\u01a1n, nh\u01b0 phong c\u00e1ch ho\u1ea1t \u0111\u1ed9ng (t\u0103ng tr\u01b0\u1edfng hay gi\u00e1 tr\u1ecb),\u00a0qui m\u00f4\u00a0(v\u1ed1n h\u00f3a l\u1edbn hay v\u1ed1n h\u00f3a nh\u1ecf) v\u00e0\u00a0r\u1ee7i ro\u00a0(beta).\u00a0<\/p>\n

C\u00e1c thu\u1ed9c t\u00ednh n\u00e0y h\u1ea7u h\u1ebft c\u00f3 s\u1eb5n cho c\u00e1c lo\u1ea1i ch\u1ee9ng kho\u00e1n v\u00e0 \u0111\u01b0\u1ee3c hi\u1ec3n th\u1ecb c\u00f4ng khai tr\u00ean c\u00e1c trang web nghi\u00ean c\u1ee9u ch\u1ee9ng kho\u00e1n n\u1ed5i ti\u1ebfng. \u00a0\u00a0<\/i><\/p>\n

C\u00e1c y\u1ebfu t\u1ed1 n\u1ec1n t\u1ea3ng c\u1ee7a \u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1<\/font><\/h3>\n

C\u00e1c y\u1ebfu t\u1ed1 n\u1ec1n t\u1ea3ng trong chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1<\/b> l\u00e0:<\/p>\n

\u00a0– Gi\u00e1 tr\u1ecb<\/i><\/p>\n

M\u1ee5c ti\u00eau c\u1ee7a\u00a0y\u1ebfu t\u1ed1 gi\u00e1 tr\u1ecb\u00a0l\u00e0 thu \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t m\u1ee9c t\u1eeb c\u00e1c c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 th\u1ea5p h\u01a1n so v\u1edbi gi\u00e1 tr\u1ecb c\u01a1 b\u1ea3n c\u1ee7a ch\u00fang.\u00a0<\/p>\n

Y\u1ebfu t\u1ed1 gi\u00e1 tr\u1ecb th\u01b0\u1eddng \u0111\u01b0\u1ee3c theo d\u00f5i th\u00f4ng qua\u00a0t\u1ec9 l\u1ec7 P\/B\u00a0(gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng\/ gi\u00e1 tr\u1ecb s\u1ed5 s\u00e1ch), t\u1ec9 l\u1ec7\u00a0P\/E\u00a0(gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng\/ thu nh\u1eadp m\u1ed7i c\u1ed5 phi\u1ebfu), c\u00e1c\u00a0kho\u1ea3n c\u1ed5 t\u1ee9c\u00a0v\u00e0\u00a0d\u00f2ng ti\u1ec1n t\u1ef1 do. \u00a0\u00a0 <\/p>\n

\u00a0– Qui m\u00f4\u00a0<\/i><\/p>\n

Danh m\u1ee5c \u0111\u1ea7u t\u01b0 bao g\u1ed3m c\u00e1c\u00a0c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a nh\u1ecf\u00a0th\u01b0\u1eddng c\u00f3 l\u1ee3i nhu\u1eadn cao h\u01a1n danh m\u1ee5c \u0111\u1ea7u t\u01b0 ch\u1ec9 c\u00f3 c\u00e1c\u00a0c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn.\u00a0<\/p>\n

C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 n\u1eafm b\u1eaft\u00a0y\u1ebfu t\u1ed1 qui m\u00f4\u00a0c\u00f4ng ty b\u1eb1ng c\u00e1ch nh\u00ecn v\u00e0o m\u1ee9c v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u1ed5 phi\u1ebfu c\u00f4ng ty \u0111\u00f3. \u00a0<\/p>\n

\u00a0– \u0110\u1ed9ng l\u1ef1c gi\u00e1<\/i><\/p>\n

C\u00e1c c\u1ed5 phi\u1ebfu ho\u1ea1t \u0111\u1ed9ng t\u1ed1t h\u01a1n trong qu\u00e1 kh\u1ee9 c\u00f3 xu h\u01b0\u1edbng c\u00f3 l\u1ee3i nhu\u1eadn t\u1ed1t h\u01a1n trong t\u01b0\u01a1ng lai. Chi\u1ebfn l\u01b0\u1ee3c\u00a0\u0111\u1ed9ng l\u1ef1c\u00a0\u0111\u01b0\u1ee3c d\u1ef1a tr\u00ean l\u1ee3i nhu\u1eadn t\u01b0\u01a1ng \u0111\u1ed1i c\u1ee7a khung th\u1eddi gian t\u1eeb ba th\u00e1ng \u0111\u1ebfn m\u1ed9t n\u0103m c\u1ee7a ch\u1ee9ng kho\u00e1n. \u00a0\u00a0<\/p>\n

\u00a0– Ch\u1ea5t l\u01b0\u1ee3ng\u00a0<\/i><\/p>\n

Ch\u1ea5t l\u01b0\u1ee3ng \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh b\u1edfi kho\u1ea3n n\u1ee3 th\u1ea5p, thu nh\u1eadp \u1ed5n \u0111\u1ecbnh, t\u0103ng tr\u01b0\u1edfng t\u00e0i s\u1ea3n ph\u00f9 h\u1ee3p v\u00e0 qu\u1ea3n tr\u1ecb doanh nghi\u1ec7p t\u1ed1t.\u00a0<\/p>\n

C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 x\u00e1c \u0111\u1ecbnh c\u00e1c c\u1ed5 phi\u1ebfu ch\u1ea5t l\u01b0\u1ee3ng b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng c\u00e1c s\u1ed1 li\u1ec7u t\u00e0i ch\u00ednh ph\u1ed5 bi\u1ebfn nh\u01b0 t\u1ec9 l\u1ec7 l\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu, t\u1ec9 l\u1ec7 n\u1ee3 tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu v\u00e0 bi\u1ebfn \u0111\u1ed9ng thu nh\u1eadp. \u00a0\u00a0<\/p>\n

\u00a0– S\u1ef1 bi\u1ebfn \u0111\u1ed9ng (beta)\u00a0<\/i><\/p>\n

C\u00e1c nghi\u00ean c\u1ee9u th\u1ef1c nghi\u1ec7m cho th\u1ea5y c\u00e1c c\u1ed5 phi\u1ebfu c\u00f3\u00a0\u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng\u00a0th\u1ea5p s\u1ebd c\u00f3 l\u1ee3i nhu\u1eadn \u0111i\u1ec1u ch\u1ec9nh v\u1edbi r\u1ee7i ro cao h\u01a1n so v\u1edbi c\u00e1c t\u00e0i s\u1ea3n c\u00f3 t\u00ednh bi\u1ebfn \u0111\u1ed9ng cao.\u00a0<\/p>\n

Ph\u01b0\u01a1ng ph\u00e1p ph\u1ed5 bi\u1ebfn \u0111\u1ec3 n\u0103m b\u1eaft \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng (beta) l\u00e0 \u0111o\u00a0\u0111\u1ed9 l\u1ec7ch chu\u1ea9n\u00a0c\u1ee7a ch\u1ee9ng kho\u00e1n trong khung th\u1eddi gian m\u1ed9t \u0111\u1ebfn ba n\u0103m. \u00a0 <\/p>\n

(Theo Investopedia)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n \u0110\u1ea7u t\u01b0 theo y\u1ebfu t\u1ed1 (ti\u1ebfng Anh: Factor Investing) l\u00e0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c l\u1ef1a ch\u1ecdn ch\u1ee9ng kho\u00e1n d\u1ef1a tr\u00ean c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m c\u00f3 th\u1ec3 mang \u0111\u1ebfn l\u1ee3i nhu\u1eadn cao h\u01a1n.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30308"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30308"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30308\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}