Many value indexes rely on antiquated and less effective measures of value. For example, a company’s price-to-book (P/B) ratio heavily influences value for the Russell 1000, the S&P 500, and the MSCI USA Value. But the P/B ratio doesn’t measure a company’s intangible assets, which contribute heavily to its value. So, Victory Capital argued on [...] The post Why Price-To-Book Ratio Doesn’t Reflect a Company’s True Value appeared first on ETF Trends .