Integrity Quantitative Advisors

Invest with Integrity

We build evidence-based portfolios on decades of academic research into how markets actually behave — systematic, diversified, and low-cost — for investors who hold their capital to the same standard as the rest of their lives.

01

Systematic Portfolio Construction

Built upon decades of rigorous academic research, our systematic factor approach delivers exposure to factors that have demonstrated higher expected returns.

Our investment philosophy
02

Faithful Stewardship

As a Catholic owned and operated investment manager, we align portfolios with your faith and morals through screening and corporate engagement.

Who we serve
Annual factor returns, 1964–2025

Factor integration can provide an uncorrelated, positive expected-return premium.

Market
MKT−RF · excess market
+40−401964: +12.2%1965: +10.2%1966: −13.0%1967: +23.6%1968: +8.5%1969: −16.5%1970: −6.1%1971: +11.3%1972: +12.6%1973: −24.7%1974: −33.4%1975: +30.9%1976: +20.9%1977: −7.9%1978: +1.0%1979: +11.9%1980: +19.8%1981: −15.9%1982: +9.8%1983: +12.7%1984: −5.5%1985: +23.3%1986: +9.7%1987: −3.7%1988: +11.0%1989: +19.0%1990: −12.9%1991: +27.8%1992: +6.1%1993: +8.1%1994: −3.9%1995: +29.7%1996: +15.3%1997: +24.9%1998: +18.6%1999: +19.7%2000: −16.6%2001: −14.5%2002: −22.4%2003: +30.4%2004: +10.6%2005: +3.1%2006: +10.2%2007: +1.0%2008: −37.7%2009: +28.3%2010: +17.3%2011: +0.5%2012: +16.3%2013: +35.2%2014: +11.8%2015: +0.2%2016: +13.3%2017: +21.4%2018: −6.7%2019: +27.9%2020: +23.5%2021: +23.9%2022: −21.0%2023: +20.8%2024: +18.9%2025: +12.8%
+7.5%
Long-run mean
Size
SMB · small minus big
+45−451964: +0.4%1965: +22.4%1966: +3.0%1967: +42.2%1968: +24.0%1969: −14.6%1970: −11.2%1971: +5.8%1972: −10.2%1973: −22.1%1974: −0.5%1975: +14.8%1976: +16.6%1977: +25.8%1978: +14.5%1979: +18.3%1980: +4.7%1981: +7.2%1982: +5.6%1983: +10.2%1984: −7.9%1985: −0.7%1986: −9.4%1987: −9.0%1988: +5.0%1989: −10.3%1990: −14.3%1991: +12.5%1992: +7.9%1993: +5.9%1994: −2.4%1995: −6.1%1996: −2.6%1997: −5.7%1998: −21.5%1999: +6.3%2000: +3.6%2001: +25.6%2002: +6.4%2003: +19.3%2004: +7.0%2005: −0.5%2006: +1.7%2007: −8.0%2008: +5.9%2009: +7.4%2010: +12.6%2011: −4.5%2012: −0.3%2013: +6.3%2014: −6.9%2015: −5.8%2016: +8.7%2017: −5.2%2018: −4.9%2019: −4.6%2020: +5.7%2021: −1.5%2022: −1.4%2023: −3.9%2024: −10.5%2025: −7.8%
+2.4%
Long-run mean
Value
HML · high minus low B/M
+45−451964: +9.0%1965: +6.2%1966: −1.4%1967: −4.2%1968: +15.0%1969: −11.0%1970: +22.0%1971: −8.8%1972: +1.7%1973: +23.4%1974: +10.6%1975: +7.3%1976: +20.6%1977: +7.4%1978: −1.1%1979: −1.5%1980: −18.4%1981: +25.1%1982: +9.1%1983: +15.8%1984: +19.0%1985: −0.6%1986: +8.1%1987: −3.7%1988: +12.5%1989: −3.6%1990: −11.8%1991: −10.7%1992: +22.3%1993: +15.3%1994: −1.1%1995: +4.0%1996: +6.2%1997: +14.2%1998: −10.2%1999: −22.5%2000: +44.5%2001: +15.6%2002: +10.7%2003: +3.3%2004: +6.8%2005: +8.9%2006: +10.3%2007: −15.7%2008: +2.2%2009: −3.6%2010: −3.9%2011: −8.1%2012: +8.7%2013: +2.1%2014: −2.1%2015: −9.8%2016: +20.6%2017: −10.8%2018: −10.5%2019: −8.1%2020: −30.7%2021: +22.2%2022: +31.7%2023: −11.1%2024: −7.0%2025: +6.6%
+3.8%
Long-run mean
Profitability
RMW · robust minus weak
+30−301964: −2.4%1965: −0.4%1966: −0.7%1967: +7.8%1968: −10.5%1969: +13.3%1970: −2.9%1971: +8.5%1972: +6.7%1973: −11.4%1974: −6.2%1975: +0.2%1976: −5.1%1977: +1.7%1978: +5.3%1979: −2.5%1980: +11.1%1981: −1.2%1982: −3.3%1983: +0.2%1984: +16.3%1985: +9.3%1986: +6.4%1987: +6.3%1988: +2.9%1989: +2.5%1990: +9.4%1991: +9.3%1992: +6.2%1993: −6.4%1994: +6.1%1995: +1.2%1996: +13.5%1997: +7.3%1998: +1.4%1999: −21.5%2000: +16.4%2001: +15.8%2002: +25.4%2003: −14.8%2004: +6.3%2005: +1.2%2006: +2.8%2007: +4.3%2008: +24.1%2009: +1.5%2010: −1.5%2011: +14.1%2012: −5.2%2013: −3.0%2014: +0.6%2015: +0.5%2016: +3.4%2017: +3.8%2018: −2.1%2019: +3.0%2020: −2.3%2021: +24.4%2022: +8.4%2023: +3.8%2024: +4.1%2025: −10.2%
+3.3%
Long-run mean
Momentum
MOM · up minus down
+55−551964: +3.8%1965: +17.6%1966: +11.6%1967: +13.3%1968: +2.7%1969: +13.2%1970: −7.2%1971: +1.8%1972: +13.5%1973: +42.3%1974: +9.2%1975: −15.5%1976: +6.5%1977: +18.6%1978: +12.8%1979: +21.8%1980: +31.5%1981: −8.4%1982: +30.5%1983: −7.5%1984: +9.2%1985: +10.7%1986: +10.2%1987: −0.6%1988: −5.5%1989: +25.6%1990: +22.8%1991: +9.1%1992: +2.6%1993: +22.5%1994: +3.4%1995: +14.7%1996: +5.4%1997: +9.2%1998: +22.6%1999: +28.5%2000: +16.3%2001: −10.1%2002: +28.1%2003: −17.8%2004: −0.3%2005: +14.9%2006: −6.4%2007: +23.3%2008: +19.0%2009: −52.8%2010: +6.3%2011: +8.2%2012: −1.4%2013: +5.5%2014: +0.7%2015: +21.1%2016: −18.2%2017: +3.8%2018: +10.7%2019: −5.5%2020: −0.9%2021: −2.9%2022: +20.2%2023: −20.5%2024: +18.5%2025: −2.2%
+7.4%
Long-run mean

Source: Kenneth R. French Data Library. Annual returns compounded from monthly data.

Stay informed

Notes on markets, method, and stewardship.

Letters on our investment research and philosophy.