notices - See details
Notices
building-capital-markets
THEME: CAPITAL MARKETS
22 April 2026 In Practice Brief

In Practice Brief: The Best Defensive Strategies

CFA Institute

Analyzing 220 years of global data, the authors find that defensive equity factors help reduce downside risk, but Defensive Absolute Return and trend-following strategies provide the most robust, complementary protection against drawdowns.

In Practice Member Companion Brief Read Brief CFA Institute Member Content