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VettaFi has officially completed its acquisition of RAFI Indices, LLC from Research Affiliates Global Holdings, LLC. First announced in June 2026, the milestone transaction unites RAFI’s decades of deep, academically grounded intellectual property with VettaFi’s agile, modern indexing infrastructure.
The acquisition brings VettaFi’s overall index assets to roughly $260 billion and adds some of the most respected fundamental strategies in the industry. The deal significantly expands the capabilities available to global asset managers.
At the core of this transaction is a shared commitment to deep research and innovation. RAFI Indices was founded by pioneering quantitative strategist Rob Arnott. He revolutionized indexing by challenging traditional market-cap weighting.
More than 20 years ago, RAFI introduced an institutional-grade framework designed to systematically eliminate the performance drag of overvalued equities. The approach selects and weights companies using fundamental metrics such as cash flow, sales, dividends, and book value rather than share price.
By bringing RAFI’s experienced team into VettaFi, the combined organization pairs institutional research rigor with VettaFi’s proprietary Index Factory platform and expansive distribution capabilities.
"RAFI Indices has long set the gold standard for fundamental indexing," said Tom Hendrickson, President of VettaFi. "By integrating RAFI’s deep, institutional-grade research with our modern technology infrastructure, we are uniquely positioned to deliver an even broader suite of innovative, data-driven investment solutions. We are excited to welcome the brilliant minds of the RAFI team into the VettaFi family as we continue to build what’s next in index ETFs—together."
RAFI Indices currently serve as the underlying engine behind many of the marketplace's flagship smart beta products. These include the $25 billion Schwab Fundamental U.S. Large Company Index ETF (FNDX) and the $10 billion Invesco RAFI 1000 ETF (PRF). In addition there is a suite of over 90 specialized strategies spanning fundamental value, cap-weighted core, and fundamental growth investing across global equities.
VettaFi will provide research continuity for existing RAFI-backed strategies while accelerating the design and deployment of next-generation benchmarks.
"Today we begin an exciting new chapter in the RAFI story," said Rob Arnott, Founding Partner and Board Chair of Research Affiliates. "Our simple idea of creating an index strategy that selects and weights using fundamental measures of size, rather than price or market value, advanced the state of the art for equity investing. With VettaFiʼs resources and our shared vision, they will be properly equipped to take RAFI, and our newer strategies in cap-weighted core and growth investing, to new levels of global success."
The full press release can be found here.
VettaFi LLC is a wholly owned subsidiary of TMX Group Limited (TMX Group). For more information about TMX Group, please visit www.tmx.com.
VettaFi has officially completed its acquisition of RAFI Indices, LLC from Research Affiliates Global Holdings, LLC. First announced in June 2026, the milestone transaction unites RAFI’s decades of deep, academically grounded intellectual property with VettaFi’s agile, modern indexing infrastructure.
The acquisition brings VettaFi’s overall index assets to roughly $260 billion and adds some of the most respected fundamental strategies in the industry. The deal significantly expands the capabilities available to global asset managers.
At the core of this transaction is a shared commitment to deep research and innovation. RAFI Indices was founded by pioneering quantitative strategist Rob Arnott. He revolutionized indexing by challenging traditional market-cap weighting.
More than 20 years ago, RAFI introduced an institutional-grade framework designed to systematically eliminate the performance drag of overvalued equities. The approach selects and weights companies using fundamental metrics such as cash flow, sales, dividends, and book value rather than share price.
By bringing RAFI’s experienced team into VettaFi, the combined organization pairs institutional research rigor with VettaFi’s proprietary Index Factory platform and expansive distribution capabilities.
"RAFI Indices has long set the gold standard for fundamental indexing," said Tom Hendrickson, President of VettaFi. "By integrating RAFI’s deep, institutional-grade research with our modern technology infrastructure, we are uniquely positioned to deliver an even broader suite of innovative, data-driven investment solutions. We are excited to welcome the brilliant minds of the RAFI team into the VettaFi family as we continue to build what’s next in index ETFs—together."
RAFI Indices currently serve as the underlying engine behind many of the marketplace's flagship smart beta products. These include the $25 billion Schwab Fundamental U.S. Large Company Index ETF (FNDX) and the $10 billion Invesco RAFI 1000 ETF (PRF). In addition there is a suite of over 90 specialized strategies spanning fundamental value, cap-weighted core, and fundamental growth investing across global equities.
VettaFi will provide research continuity for existing RAFI-backed strategies while accelerating the design and deployment of next-generation benchmarks.
"Today we begin an exciting new chapter in the RAFI story," said Rob Arnott, Founding Partner and Board Chair of Research Affiliates. "Our simple idea of creating an index strategy that selects and weights using fundamental measures of size, rather than price or market value, advanced the state of the art for equity investing. With VettaFiʼs resources and our shared vision, they will be properly equipped to take RAFI, and our newer strategies in cap-weighted core and growth investing, to new levels of global success."
The full press release can be found here.
VettaFi LLC is a wholly owned subsidiary of TMX Group Limited (TMX Group). For more information about TMX Group, please visit www.tmx.com.
