Core Insights - The article focuses on two U.S. factor-based ETFs from Vanguard: the Vanguard U.S. Quality Factor ETF Shares (VFQY) and the Vanguard U.S. Multifactor ETF Shares (VFMF) [1] Group 1: Investment Philosophy - The investment philosophy is centered on rational decision-making, downside protection, and independent thinking [1] - The author emphasizes a long-term value investing approach, aiming to provide clear, research-based insights for better understanding of valuation, fundamentals, and risk [1] Group 2: Experience and Background - The author has 10 years of experience as a public finance analyst and has managed a personal investment portfolio focusing on ETF cyclicality and value-oriented investments [1] - The author has written about various investment vehicles including U.S. and foreign equities, closed-end funds, ETFs, and open-end mutual funds [1]

Core Insights - The Vanguard U.S. Multifactor ETF Shares (BATS: VFMF) is an actively managed ETF that utilizes a rules-based quantitative model to invest in U.S. stocks [1] Group 1 - The ETF aims to identify value in North American public equities and ETFs, reflecting a trend where asset managers offer similar products [1] - The article highlights the importance of narrowing down better ETF options for investors, indicating a competitive landscape in the ETF market [1] Group 2 - The author, Nikola, has over three years of experience in finance and consulting, focusing on corporate credit risk analysis and venture capital in the med-tech sector [1] - The article does not provide any specific investment recommendations or advice, emphasizing that the opinions expressed are solely those of the author [2][3]