So now we have size, value, momentum, quality, low volatility factors. What do we do with them?
The push to bring these into practice was done at Goldman Sachs Asset Management. @CliffordAsness started there in 1994, and left to create AQR in 1998. Mark Carhart ran the Global Alpha fund at GSAM until about 2010 and left to launch Kepos with Bob Litterman, another GSAM alum.
In addition, David Booth, another U Chicago guy (Cliff is U Chi as well), created Dimensional to market factor products. He got rich enough to rename the U Chicago MBA program after himself. They are pretty secretive but are launching ETFs now investmentnews.com/dimensional-fu…
Now there are tons of factor ETFs floating around the world, with either single-factor optimization or a multi-factor approach. GSLC is one of the biggest multifactor ETFs, and uses value, momentum, quality, and low vol gsam.com/content/dam/gs…
as one would expect, @iShares has a ton of ETFs spanning all these factors, in both the single-factor and multi-factor space 
