Amy Arnott

Amy Arnott is a portfolio strategist at Morningstar who focuses on fund costs, investor behavior gaps (the difference between fund returns and actual investor returns due to timing), asset allocation research, and portfolio construction. Her research on how much investors actually earn compared to funds' stated returns has been influential in highlighting the importance of investor behavior alongside fund quality. Arnott also researches optimal portfolio construction techniques and how financial advisers can help clients stay invested through market volatility. Her work on rebalancing frequency, correlation breakdown during stress periods, and the role of alternative assets in smoothing portfolio outcomes has contributed practical frameworks that financial advisors use to design more resilient multi-asset portfolios. She is a frequent contributor to Morningstar's public research and a recognized voice in the debate over passive versus active fund selection.