Back to ACE Academy

Marlena Lee, PhD

Global Head of Investment Solutions, Dimensional Fund Advisors

Masterclass 11:

The Future of ETFs: Evolved. Transparent. Flexible.

The first ETFs available to investors were designed to track the performance of indices. While index-based ETFs continue to be popular with investors due to generally low costs, broad diversification, low turnover, and transparent construction, the mechanical construction and rigid trading requirements of index funds reduce their ability to efficiently capture the returns of different asset classes. In contrast, actively managed ETFs aim to provide the same benefits of index-based approaches while also providing additional value through flexible, active implementation.

                    

Biography

Marlena Lee, PhD, is Dimensional’s global head of investment solutions. Lee leads a team dedicated to providing clients thought leadership, analysis, and education on a wide range of investment-related topics. In addition, she is a member of the Investment Research Committee. Lee previously served as co-head of research, helping shape the firm’s global research agenda by working with clients to identify topics of interest and overseeing the creation of research papers. Previously, Lee worked as a teaching assistant for Nobel laureate Eugene Fama, a professor at the University of Chicago Booth School of Business. Lee earned a PhD in finance and an MBA from the Chicago Booth School of Business. She also earned an MS in agricultural and resource economics and a BS in managerial economics from the University of California, Davis.

Achievements 

    • Teaching assistant for Nobel laureate Eugene Fama