The second quarter of 2019 was largely dominated by Momentum factors, as Price Momentum (+13.7%) lead the way with Earnings Revisions (+6.7%) also delivering a strong performance. After a strong recovery in Q1, Value factors fell, with Dividend Yield (-7.2%) performing worst and Price to Book (-3.5%) also struggling. Quality factors, namely Return on Equity (-2.1%) and Debt to Equity (-0.5%) produced fairly neutral returns compared to the previous quarter.