Investment Philosophy
Meritage’s investment philosophy is based on rigorous empirical and theoretical research, grounded in Nobel Prize winning Modern Portfolio Theory. We believe that:
  1. Markets are efficient.
    • In liquid markets, prices reflect all available information
    • Securities are fairly priced and reflect the expectations of all market participants
  2. Investment strategies can be structured to add value.
    • Market premiums, such as small cap and value stocks, offer investors higher expected returns while balancing tradeoffs
    • Meticulous strategy design and efficient execution adds value
    • Continuous rebalancing captures desired premiums while minimizing turnover
  3. Diversification is essential.
    • Diversification helps reduce uncertainty and control risk
    • Diversification adds value by enabling more efficient portfolio management and flexible trading
  4. Costs matter.
    • Low turnover by design keeps overall trading costs down
    • Commission costs are kept as low as possible without sacrificing overall execution
    • A trading philosophy that emphasizes patience and flexibility


IRA OF AMERICA supports this investment philosophy. IRA OF AMERICA is built of six risk-based, globally diversified and structured portfolios that:

  • Use no-load mutual funds managed by Dimensional Fund Advisors, a global investment firm that uses a research-based, transparent and process-driven approach
  • Range from conservative to aggressive (Meritage’s proprietary suitability questionnaire determines most appropriate portfolio for each client)
  • Seek to capture market performance with lower standard deviation, increased returns and decreased risk
  • Achieve asset allocation: true diversification across a broad range of international exposures (IRA OF AMERICA portfolios invest in more than 21,000 equity positions around the world)


IRA OF AMERICA was designed to provide the highest-quality, low-cost IRA investment vehicle for accounts of all sizes.