Growing ETF complexity raises due-diligence burden: Morningstar

Not only is the market for strategic-beta exchange-traded products (ETPs) growing fast in Asia, but the complexity of their underlying benchmarks is also increasing, according to recent research by Morningstar. This has implications for investors in that it will require them to do more due diligence on these products. “This [growing complexity] is part of the natural evolution of the market and one that has already played out in the slicing and dicing of traditional market-cap-wei…