Dr. Eli Sherrill
Associate Professor
Office
SFHB State Farm Hall of Business
Office Hours
Fall 2025 Office Hours: Wed. 11:00 a.m.-12:15 p.m. and 3:20-3:45 p.m., and by appointment
Office Phone
Email
- About
- Education
- Awards & Honors
- Selected Research
Biography
Dr. Sherrill joined the faculty at ISU in 2014. He teaches classes in finance, specifically in investments and financial markets. He is also a co-advisor for Illinois State Students in Finance which aims to prepare students for careers in finance and better understand different finance career options.
Current Courses
FIL 241.001 Financial Markets
FIL 241.003 Financial Markets
FIL 241.004 Financial Markets
FIL 242.006 Investments
Teaching Interests & Areas
Finance
Investments
Financial Markets
Risk Management & Insurance
Research Interests & Areas
Exchange-traded funds
Mutual funds
Target-date funds
College savings funds (529's)
Municipal bonds
Institutional ownership
PhD Finance
University of Alabama
Tuscaloosa, AL
MS Finance
University of Alabama
Tuscaloosa, AL
BS Finance
Berry College
Mount Berry, GA
Gary R. Gemberling Faculty Scholar in Business
COB
2026
Manahan Family Award for Teaching Excellence in Business
ISU
2024
Beta Gamma Sigma Professor of the Year
Beta Gamma Sigma
2024
FIL Department Outstanding Service Award
ISU
2024
FIL Department Outstanding Teaching Award
ISU
2023
Wilma Jean Alexander Technology Innovation Faculty Award
2022
FIL Department Outstanding Researcher Award
ISU
2019
Dixie L. Mills Faculty Scholar in Finance
ISU
2018
Manahan Family Award for Teaching Excellence in Business
ISU
2018
FIL Department Outstanding Researcher Award
ISU
2017
Grants and Contracts
Department of Finance, Insurance, & Law Summer Research Grant
Eli Sherrill, Kate Upton.
Department of Finance, Insurance, & Law. 2023 - 2023
Department of Finance, Insurance, & Law Summer Research Grant
Eli Sherrill.
Department of Finance, Insurance, & Law. 2021 - 2021
Journal Article
Active ingredients: How actively managed holdings shape target date fund performance and costs
Eli Sherrill, Kate Upton.
Journal of Financial Research, (2025), 10.1111/jfir.70005
Behind the Curtain: Analysis of TDFs' Holdings and the Performance of their Underlying Funds
Eli Sherrill, Kate Upton.
Quarterly Journal of Finance, (2025), 10.1142/s2010139225500065
Do labels matter: Impact of Changing ESG Classifications for Funds
Hiro Nishi, Drew Peabody, Eli Sherrill, Kate Upton.
Journal of Investing, (April 2025), 12, (2025), 10.3905/joi.2025.1.344
Concentrated holdings by funds: Putting all your eggs in the same basket
Eli Sherrill.
Journal of Investing, 32 (4), 42-61, (2023), 10.3905/joi.2023.1.265
Side-by-Side Management of Mutual Funds and Actively Managed Exchange Traded Funds
Adam Aiken, Eli Sherrill, Kate Upton.
Financial Review, 1-25, (2022)
The use of ETFs in internationally-focused mutual fund portfolios
Eli Sherrill, Sara E Shirley, Jeffrey R Stark.
Quarterly Journal of Finance, 11 (3), 35, (2021), https://doi.org/10.1142/S2010139221500129
ETF use among actively managed mutual fund portfolios
Eli Sherrill, Sara E Shirley, Jeffrey R Stark.
Journal of Financial Markets, 51 (2020), 1-15, (2020), https://doi.org/10.1016/j.finmar.2019.100529
ETF Liquidation Determinants
Eli Sherrill, Jeffrey R Stark.
Journal Of Empirical Finance, 48, 357-373, (2018), https://doi.org/10.1016/j.jempfin.2018.07.007
Actively managed mutual funds holding passive investments: What do ETF positions tell us about mutual fund ability?
Eli Sherrill, Sara E Shirley, Jeffrey R Stark.
Journal Of Banking And Finance, 76, 48-64, (2017)
ETFs within a Mutual Fund's Portfolio
Eli Sherrill, Sara E. Shirley, Jeffrey R. Stark.
Journal of Index Investing, The, 7 (2), 6-15, (2016)
Do Advisor 529 Plans Add Value for Investors Compared to Direct Plans?
Eli Sherrill, Kate Upton.
Managerial Finance, https://doi.org/10.1108/MF-06-2025-0388
Presentations
Reality Fair Analysis and Comparison - Spring and Fall 2024
Christopher Tamm, Eli Sherrill.
ItsMyCreditUnion, Online, November, 2024
Active Targets: An Examination of Target Date Funds' Costs and Performance Related to Active Management
Eli Sherrill, Kate Upton.
Southern Finance Association, Palm Beach Gardens, FL, November, 2024
Active Targets: An Examination of Target Date Funds' Costs and Performance Related to Active Management
Eli Sherrill, Kate Upton.
Financial Management Association, Grapevine, TX, October, 2024
Active Targets: An Examination of Target Date Funds' Costs and Performance Related to Active Management
Eli Sherrill, Kate Upton.
Illinois State University, Normal, IL, March 1, 2024
Active Targets: An Examination of Target Date Funds' Costs and Performance Related to Active Management
Eli Sherrill, Kate Upton.
Northern Illinois University, Dekalb, IL, February 28, 2024
Side-by-Side Management of Mutual Funds and Actively Managed Exchange Traded Funds
Adam Aiken, Eli Sherrill, Kate M Upton.
Financial Management Association Meeting, New Orleans Louisiana, October, 2019
ETF use among actively managed mutual fund portfolios
Eli Sherrill, Sara E. Shirley, Jeffrey R. Stark.
Southern Finance Association Annual Meeting, Asheville North Carolina, November, 2018
Foreign focused mutual funds and exchange traded funds: Do they improve portfolio management?
Eli Sherrill, Sara E Shirley, Jeffrey R Stark.
Southern Finance Association Annual Meeting, Asheville North Carolina, November, 2018
Side-by-Side Management of Mutual Funds and Actively Managed Exchange Traded Funds
Adam Aiken, Eli Sherrill, Kate M Upton.
Southern Finance Association Annual Meeting, Asheville North Carolina, November, 2018
Foreign focused mutual funds and exchange traded funds: Do they improve portfolio management?
Eli Sherrill, Sara E Shirley, Jeffrey R Stark.
Eastern Finance Association, Philadelphia Pennsylvania, April, 2018
Actively Managed ETFs versus Actively Managed Mutual Funds
Eli Sherrill, Kate Upton.
Southern Finance Association Annual Meeting, Key West Florida, November, 2017
ETF use among actively managed mutual fund portfolios
Eli Sherrill, Sara E Shirley, Jeffrey R Stark.
Financial Management Association Meeting, Boston Massachusetts, October, 2017
Foreign focused mutual funds and exchange traded funds: Do they improve portfolio management?
Eli Sherrill, Sara E Shirley, Jeffrey R Stark.
Financial Management Association Meeting, Boston Massachusetts, October, 2017
Actively managed mutual funds holding passive investments: What do ETF positions tell us about mutual fund ability?
Eli Sherrill, Sara E. Shirley, Jeffrey R. Stark.
Eastern Finance Association, Jacksonville Florida, April, 2017
Actively managed mutual funds holding passive investments: What do ETF positions tell us about mutual fund ability?
Eli Sherrill, Sara E. Shirley, Jeffrey R. Stark.
Financial Management Association Meeting, Las Vegas Nevada, October, 2016
Actively managed mutual funds holding passive investments: What do ETF positions tell us about mutual fund ability?
Eli Sherrill, Sara E Shirley, Jeffrey R Stark.
Midwest Finance Association Annual Meeting, Atlanta Georgia, March, 2016
ETF Return Predictability
Eli Sherrill.
Financial Management Association Meeting, Orlando Florida, October, 2015
The Impact of Basket Trading on Stock Return Comovement and Stock Price Informativeness
Eli Sherrill, Douglas O Cook.
Financial Management Association Meeting, Nashville Tennessee, October, 2014
The Impact of Basket Trading on Stock Return Comovement and Stock Price Informativeness
Eli Sherrill, Douglas O Cook.
Midwest Finance Association Annual Meeting, Orlando Florida, March, 2014
ETF Liquidation Determinants
Eli Sherrill.
Financial Management Association Meeting, Chicago Illinois, October, 2013
Municipal Disclosure Timeliness and the Cost of Debt
Eli Sherrill.
Southern Finance Association Annual Meeting, Charleston South Carolina, November, 2012
Municipal Disclosure Timeliness and the Cost of Debt
Eli Sherrill.
Financial Management Association Meeting, Atlanta Georgia, October, 2012
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2022