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Cinthia Murphy says ETFs have been focused on small caps and defensive plays recently, though she points out that inflows are a lagging effect. She says there's been less of a rotation across sectors than an expansion, and that there have already been $60B in ETF inflows since 2025 began. She also notes interest in bitcoin and financials. ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about
Cinthia Murphy looks at ETF trends heading into 2025. She highlights the Nasdaq-100's rebalancing, which will affect many ETFs and their exposure to different areas of the market – particularly with crypto stock MicroStrategy (MSTR) becoming present in the QQQ. Looking at ETF inflows, she says money is “chasing small caps” and value, showing a “need to diversify.” ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about
On today's episode, host Pamela Ritchie speaks with Raghav Mehta, ETF Strategist, about the performance and strategies behind Fidelity's factor-based ETFs. Raghav dives into the quality and momentum investing factors, their role in navigating late-cycle markets, and the benefits of all-in-one ETF solutions. Recorded on November 15, 2024. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics' Advisor Digital Experience Study.
We explore recent ETF industry trends and the post-election outlook. (0:45) - What Role Does Tidal Play When Bringing ETFs To Market (3:50) - What Is Driving The Growth In The ETF Industry Right Now? (6:20) - What Impact Will A Trump Presidency Have On The Stock Market? (11:30) - What Is Causing The Rise In Active ETFs? (16:35) - Newly Launched ETFs You Should Have On Your Watchlist From Tidal (20:20) - Breaking Down What A 351 Exchange Strategy Is (24:10) - Investing Like A Politician: NANC & KRUZ (27:40) - Mutual Funds Converted To ETFs: Will This Trend Continue? (30:15) - ETF Trends and Themes To Watch Out For In 2025 (33:10) - Episode Roundup: MSTX, CHAT, TSLY Podcast@Zacks.com
My guest this week is David Nadig. David is the Financial Futurist for ETF Trends and ETF Database and has had over 25 years of ETF experience. We start off by acknowledging the debate over active and passive investing. David and I discuss the potential dangers of passive funds on market discovery, the inelastic markets hypothesis, and the effects of massive inflows into index funds. This episode explores how leverage and options trading interact with these market dynamics and the broader implications on capitalism and market structures. Please enjoy my conversation with David Nadig. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Making Markets (00:01:25) The Passive vs Active Debate (00:03:02) Impact of Passive Investing on Market Pricing (00:04:02) Flow and Market Cap Multiplier Effect (00:07:20) Daily Leverage and Market Volatility (00:10:35) Uninformed vs Informed Traders (00:19:19) Opportunities and Risks in Passive Investing (00:21:52) Opportunities in Forced Selling and Crisis (00:22:17) The Shift from Public to Private Markets (00:24:46) Challenges in Private Equity Liquidity (00:29:46) The Broken System of Capitalism (00:35:30) Insurance Problems and Government Role (00:37:02) Thoughts on Capitalism's Future Learn more about your ad choices. Visit megaphone.fm/adchoices
In this conversation, Pierre Daillie interviews Elisabeth Kashner, Director of Global Funds Research, FactSet, about the trends and challenges in the ETF market. They discuss the slow pace of ETF flows in 2024, the impact of the Fed's rate cuts, and the attractiveness of cash investments. They also explore the rise of actively managed equity ETFs and the competition among asset managers to offer low-cost products. The conversation highlights the importance of providing exceptional value and solving the profitability challenge in the ETF industry. The asset management industry is experiencing a shift towards lower fees and increased efficiency, driven by the rise of ETFs. While some ETF issuers have raised their management expense ratios (MERs), it is often due to operational concerns rather than a desire to make more money. The industry is becoming more commoditized, allowing investors to focus on making the right asset allocation decisions. The ETF industry continues to grow, with inflows increasing every year. However, with over 3,500 ETFs available, investors need to do their homework and understand the products they are investing in.Takeaways• ETF flows in 2024 have been slow compared to previous years, with investors gravitating towards cash investments due to their attractive yields.• The rise of actively managed equity ETFs has led to increased competition among asset managers, with a few firms attracting the majority of flows.• Asset managers face the challenge of offering exceptional value and solving the profitability issue in a highly competitive market.• The barriers to entry in the ETF industry are low, but the barriers to success are high, requiring efficiency, scale, and effective capital markets management.• The asset management industry is shifting towards lower fees and increased efficiency• ETF issuers have raised MERs due to operational concerns, not to make more money• Investors have a wide range of ETF options, but need to do their homework and understand the products• The industry is becoming more commoditized, allowing investors to focus on asset allocation decisions• Investors should seek the advice of a knowledgeable advisor to navigate the marketCopyright © AdvisorAnalyst
Fidelity Canada offers a range of Canadian, US, and global ETFs in different asset classes. Whether it's active, factor-based, fixed income, sustainable investments or digital assets, Fidelity offers a mix of ETFs for various investment styles or time horizons. Joining the show today to talk us through his best ideas with Fidelity ETFs, and for a look at the latest ETF industry trends, is Fidelity ETF strategist Raghav Mehta. Raghav delves into the concept of using factor-based models in ETF selection, citing Fidelity's Systematic Canadian Bond ETF as an example of how quantitative analysis can optimize bond portfolios for risk-adjusted returns. He also emphasizes the importance of seasonality in investment decisions, and how historical patterns can guide current strategies. As an example, he highlights the potential benefits of Canadian bonds with extended durations following rate cuts, pointing out their historical outperformance in such periods. He also discusses Fidelity's All-In-One ETFs as comprehensive solutions for diversified portfolios, being designed to navigate various market conditions efficiently, and explains his team's strategic approach to their ETF offerings, blending historical analysis with quantitative methods to address investor needs across different asset classes and market environments. Recorded on June 28th, 2024. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics' Advisor Digital Experience Study.
In this episode of Spotlight, Thalia Hayden @etfguide chats with Ed Egilinksy, Head of Sales and Distribution & Alternatives at Direxion. Topics covered include hot stock market trends, ETF strategies for combating inflation, trading industry sectors and capitalizing on high interest rates. Also discussed are updates to recent changes in Direxion's single stock ETF lineup. *********To learn more about Direxion's ETF lineup, visit Direxionhttps://www.direxion.com/
Join Ronan and JR as they kick off 2024 with Dave Nadig, a “Financial Futurist” for ETF Trends and ETF Database, and an all-around expert in the ETF industry. In this episode, Dave shares his predictions for the year, discussing the election's impact on investments, the prospects of ESG and clean energy, the implications of SEC-approved Bitcoin ETFs, challenges in active ETFs, insights on Cathie Wood's ARK in 2023, and the role of AI in finance. Get out your crystal balls out and compare your notes on what lies ahead with Dave on this special episode. Recorded January 9, 2024.
On Episode 46 of Trends with Friends — Howard Lindzon, JC Parets, Phil Pearlman, Rob Petrozzo and Riley Rosebee review the Most Interesting Chart in the World, Bundling & Unbundling, All-Time Highs, Happy Hours in SoHo and CryptoPunks are the Rookie Cards. Like and Subscribe if you enjoy the show. Chapters Welcome Rob Petrozzo (0:00) Happy Hours in SoHo (1:48) The Most Interesting Chart in the World (3:38) Whipsaw Hunting Season (4:50) CryptoPunks Are The Rookie Cards (7:30) What's Not Working? (10:41) What's Working? (12:27) The Wall of Worry (13:35) Google + Shopify (18:33) Uranium and Coal, Not Oil and Gas (20:27) The Bitcoin ETF (22:20) Crypto Follows (25:50) Culture Center Sentiment (29:06) Bundling and Unbundling, S/O ZIRP (31:22) SoHo Tastemakers (38:50) Appeal to the 10% (43:20) Golf is Too Saturated (46:33) The Vision Pro (49:39) Rotation into China (53:51) This Is Not Financial Advice (56:52) Featured Links Rally Road — https://rallyrd.com/# Joe McCann — https://twitter.com/joemccann Kyle, Multicoin — https://twitter.com/KyleSamani Mike Dudas — https://twitter.com/mdudas I want my Vision Pro, Om Malik — https://om.co/2024/01/08/vision-pro-is-coming/#more-922192 This Is Not Financial Advice — https://tv.apple.com/us/movie/this-is-not-financial-advice/umc.cmc.xpzhsanwyvzm5kupo6f3sbz3 Howard's Blog — https://www.howardlindzon.com/ JC's Blog — https://allstarcharts.com/blog/ Pearl's Prime Cuts — https://primecuts.substack.com/ Riley's Blog — https://popularprice.beehiiv.com/ Follow Us on Twitter Howard Lindzon — https://twitter.com/howardlindzon JC Parets — https://twitter.com/allstarcharts Phil Pearlman — https://twitter.com/ppearlman Rob Petrozzo — https://twitter.com/robpetrozzo Riley Rosebee — https://twitter.com/be_rosebee --- Send in a voice message: https://podcasters.spotify.com/pod/show/trends-with-friends/message
What's the best instrument for your investments? Mutual funds or ETFs? On today's edition of At the Money, Barry Ritholtz speaks to Dave Nadig about the pros and cons of these two investment vehicles. Listen to find out which is right for you. Nadig is the Financial Futurist for ETF Trends and ETF Database. He has been involved in researching, reporting and analyzing the investment management industry for more than 20 years.See omnystudio.com/listener for privacy information.
Investing can be complicated. But what if there was a simple solution? On this episode of 'At the Money,' Barry Ritholtz talks to Dave Nadig about one simple approach to the matter. Nadig is the Financial Futurist for ETF Trends and ETF Database. He has been involved in researching, reporting and analyzing the investment management industry for more than 20 years.See omnystudio.com/listener for privacy information.
ETF industry pioneer Dave Nadig is the Financial Futurist for ETF Trends and ETF Database. Nadig comes with 25 years of ETF experience, most recently as Managing Director of ETF.com, where he helped grow the business and provide expert commentary for the past decade. Before that, he managed mutual funds at startup MetaMarkets.com, and was a Managing Director at Barclays Global Investors in the 1990s. He's widely leveraged by media and institutions as a key expert in the field. Dave has been involved in researching, reporting and analyzing the investment management industry for more than 20 years, and recently co-authored a definitive book on ETFs, “A Comprehensive Guide To Exchange-Traded Funds,” for the CFA Institute.On this episode of Outside In, Dave talks with Jon about deconstructing today's reality to see where future change will come from, how the fundamental nature of democratic capitalism is in danger, quantum physics, AI and much more.
"If you look at every major financial catastrophe, leverage is there, but it's not leverage on its own. It's concentrated leverage. It's using leverage to do two and three times exposure to stocks rather than using leverage to unlock the benefits of diversification."-On this episode of Voice From the Hills, we discuss various topics related to investing and portfolio management.Corey Hoffstein explains how investors often misapply probabilities and trends and introduces the concept of return stacking.The conversation touches on asset location and its relationship with tax efficiency, with the importance of considering the vehicles used in the implementation process for maximum tax efficiency.The episode also includes personal anecdotes from Hoffstein about his family traditions and values that have served him well in athletic and business endeavors.-Mentioned in the episode:Return Stacked Bonds & Managed Futures ETFFollow Corey on Twitter-Corey Hoffstein is co-founder and Chief Investment Officer of Newfound Research. Investing at the intersection of quantitative and behavioral finance, Newfound Research is dedicated to helping clients achieve their long-term goals with research-driven, quantitatively-managed portfolios, while simultaneously acknowledging that the quality of the journey is just as important as the destination. At Newfound, Corey is responsible for portfolio management, investment research, strategy development, and communication of the firm's views to clients. Corey is a frequent speaker on industry panels and contributes to ETF.com, ETF Trends, and Forbes.com's Great Speculations blog. He was named a 2014 ETF All Star by ETF.com. Corey holds a Master of Science in Computational Finance from Carnegie Mellon University and a Bachelor of Science in Computer Science, cum laude, from Cornell University.-Follow us on socials and thank you for your continued support! Hosted on Acast. See acast.com/privacy for more information.
Darrell Cronk, chief investment officer at Wells Fargo Wealth and Investment Management says that investors can expect a recession and market troubles during the first half of the New Year, but a recovery to start later on, noting that he expects the stock market to bottom out while the economy gets to where interest rates and inflation start becoming more reasonable. Cronk says that investors looking to be back in the market next year should be dipping into sectors where demand is consistent regardless of the economy, meaning health care, life sciences, defense companies and energy stocks. Also on the show, Tom Lydon, vice chairman at VettaFi -- the founder of ETF Trends -- reverts to his roots and makes a trend-following fund his pick as the ETF of the Week and, in the Market Call, Scot Bennett of Invest With Rules talks about how the rules apply and how well they have been working in today's difficult market conditions.
In this episode of First Look ETF, Stephanie Stanton @etfguide examines new ETFs from Angel Oak Capital (CARY), Thor Financial Technologies (THLV) and Zega Financial (TSLY). Recently launched ETFs for our December show are focused on investing strategies like volatility hedging, securitized credit in the bond market and alternative income sources from covered call strategies. The guest lineup for this episode includes:1. Douglas Yones, ChFC, Head of Exchange Traded Products at NYSE2. Bradley Roth, Managing Partner, CIO at Thor Financial Technologies 3. Ward Bortz, ETF Portfolio Manager & Head of Distribution at Angel Oak Capital 4. Jay Pestrichelli, CEO & Founder at Zega Financial *********First Look ETF is sponsored by the New York Stock Exchange.Learn more at http://www.HomeofETFs.comWatch us on YouTube (Link http://www.youtube.com/etfguide)Follow us on Twitter @ETFguide (Link https://twitter.com/etfguide)Visit us at ETFguide.com (https://www.etfguide.com)
CNBC's Bob Pisani spoke with Ben Slavin, Global Head of ETFs at BNY Mellon, and Andrew McOrmond, Managing Director and founding partner at WallachBeth Capital. With the economy slowing down and a Federal Reserve pivot on the horizon, how should ETF investors be positioning themselves right now? Plus, they dove deeper into markets' sizzling July rally and the biggest trends driving those gains – as well as why bond funds, growth and active management are picking up steam. In the Markets ‘102' portion of the podcast, Bob continues the conversation with Andrew McOrmond from WallachBeth Capital.
CNBC's Bob Pisani spoke with Gerard O'Reilly, Co-CEO and Chief Investment Officer of Dimensional Fund Advisors along with Dave Nadig, Financial Futurist at Vetta-Fi – formerly ETF Trends. They discussed how to navigate the market turmoil and where some ETFs investors can turn to weather the storm. They also discussed the perils of market timing and what history tells us about investment returns after previous sharp downturns. In the ‘Markets 102' portion of the podcast, Bob continues the conversation with Dave Nadig from VettaFi.
In this episode of ETF Battles, Ron DeLegge @ETFguide referees an audience requested TRIPLE HEADER between food and agriculture focused ETFs from Invesco (DBA), Blackrock's iShares ETF family (VEGI) and VanEck (MOO). Program judges Cinthia Murphy with ETF Think Tank and Todd Rosenbluth with ETF Trends judge this bout, sharing their investing research insights. Each ETF is judged against the other in key categories like cost, exposure strategy, performance, and a mystery category. Find out who wins the battle!*********ETF Battles is sponsored by: Direxion Daily Leveraged & Inverse ETFs. Know the risks. Proceed Boldly. Visit http://www.Direxion.com
ETF Trends' Dave Nadig explores the potential ramifications of relentless flows into passive investment strategies. Fidelity's Greg Friedman offers perspective on thematic ETFs. CoinDesk Indices' Kelly Ye discusses the current crypto markets and the future of digital asset investing.
ETF Trends' Tom Hendrickson offers new insight into advisor usage of commodity ETFs. Engine No. 1's Yasmin Dahya Bilger explains how leveraging voting power and actively engaging with companies can drive positive change. The BAD Investment Company's Tommy Mancuso spotlights the B.A.D ETF (BAD).
In this episode of ETF Battles, Ron DeLegge @ETFguide referees an audience requested bout between a pair of high dividend ETFs from Blackrock's iShares ETF family (HDV) and Vanguard (VYM). Program judges Cinthia Murphy with ETF Think Tank and Todd Rosenbluth with ETF Trends judge this bout, sharing their investing research insights. Each ETF is judged against the other in key categories like cost, exposure strategy, performance and a mystery category. Find out who wins the battle!*********ETF Battles is sponsored by: Direxion Daily Leveraged & Inverse ETFs. Know the risks. Proceed Boldly. Visit http://www.Direxion.com
CNBC's Bob Pisani spoke with Mel Faber, Co-founder and CIO of Cambria Investments along with Tom Lydon, Global CEO of ETF Trends. They discussed what to do in a down market without taking yourself out of the game entirely – whether it's momentum trading or put options. Plus, what are the latest flows telling us about the ETF landscape right now during these turbulent times? In the Markets 102' portion of the podcast, Bob continues the conversation with Tom Lydon from ETF Trends.
ETF Trends' Lara Crigger highlights concerns over Finra's “complex” product proposal and offers her take on an SEC probe into ETF revenue-sharing practices. BNY Mellon's Ben Slavin covers a range of topics including the Finra proposal, Vanguard's share class patent, mutual fund to ETF conversions, and crypto ETFs. Leverage Shares' Oktay Kavrak discusses their unique […]
ETF Trends' Tom Lydon talks year-to-date ETF flows and performance. Newfound Research's Corey Hoffstein explains the concept of “return stacking” and highlights their suite of Structural Alpha model ETF portfolios. Bloomberg's Eric Balchunas discusses his new book, “The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions”.
Barron's senior writer Lauren Foster speaks with Todd Rosenbluth, head of research at ETF Trends and ETF Database, about the future of active ETFs and ETFs to consider in an environment with rising rates and inflation.
CNBC's Bob Pisani spoke with Jon Maier, Global X CIO and Todd Rosenbluth, Director of Research at ETF Trends. They discussed attractive bond alternatives. With the age-old 60/40 stock and bond portfolio unraveling, investors are clamoring for alternative sources of yield as bond funds continue to bleed. Where else can they turn? Plus, they discuss Twitter as Tesla CEO Elon Musk edges closer to a deal to take over the social media giant ahead of its earnings. In the "Markets 102" portion of the podcast, Bob continues the conversation with Todd Rosenbluth from ETF Trends.
ETF Trends' Todd Rosenbluth discusses the rise of actively managed ETFs and offers perspective on cannabis ETFs. Poseidon's Morgan Paxhia explains the investment approach behind the AdvisorShares Poseidon Dynamic Cannabis ETF (PSDN) and what's next for the cannabis space. Strategy Shares' David Miller spotlights the Strategy Shares Nasdaq 7HANDL Index ETF (HNDL).
CNBC's Bob Pisani spoke with Dave Mazza, Direxion head of product, Will Rhind, GraniteShares CEO, and David Nadig, Financial Futurist at ETF Trends. They discussed the rise of single-stock ETFs, particularly leveraged and inverse single-stock ETFs. They debate the pros and cons, cover the regulatory and investing hurdles ahead and break down what to expect as more and more companies apply for these complicated products. In the 'markets 102' portion of the podcast, Bob continues the conversation with Dave Nadig from ETF Trends. join ‘Halftime Report' to discuss the rise of single-stock ETFs.
ETF Prime Host Nate Geraci is joined by ETF Trends’ Dave Nadig and Todd Rosenbluth, along with Advisor Circle’s John Swolfs, to recap the ETF event of the year.
CNBC's Bob Pisani is broadcasting from the biggest ETF conference in the world, the inaugural Exchange ETF Conference! Bob spoke with Mat Hougan, CIO of Bitwise Asset Management, Tom Lydon, ETF Trends CEO, and Michael Sonnenshein, Grayscale Investments CEO. They discussed the state of the ever-evolving ETF industry; everything from how to navigate the market turmoil on a road paved with risky variables, to the SEC's crypto conundrum and opportunities abroad. In the 'Markets 102' portion of the podcast, Bob continues the conversation with Tom Lydon from ETF Trends.
ETF Trends' Lara Crigger discusses new volatility ETFs, Morgan Stanley's ETF entrance, and Charles Schwab's direct indexing platform. State Street's Matt Bartolini dissects year-to-date ETF flows and offers a prediction on active ETFs. V-Square's Mamadou-Abou Sarr spotlights the V-Shares U.S. Leadership Diversity ETF (VDNI).
ETF Trends' Todd Rosenbluth explains where advisors are seeking income given inflation concerns. iShares' Sarah Kjellberg and MSCI's Guillermo Cano discuss the impact of Russia's invasion of Ukraine on ESG ratings and the energy transition. FolioBeyond's Dean Smith spotlights their Rising Rates ETF (RISR) and offers perspective on current fixed income markets.
CNBC's Bob Pisani spoke with Thomas Gorman, attorney at Dorsey and Whitney, Dave Nadig, Financial Futurist at ETF Trends, and Kim Arthur, CEO of Main Management. FINRA recently raised the alarm on exposing retail investors to complex products like leveraged and inverse ETFs, options, and even bitcoin futures ETFs ... more and more regulators are warning the brokerage community to be careful about recommending the products and asking whether more rules and vetting are necessary. For instance, should retail traders be required to take tests before they allowed to trade these products? In the ‘Markets 102' portion of the podcast, Bob continues the conversation with Dave Nadig from ETF Trends.
ETF Trends' Tom Lydon discusses the results of a recent advisor survey on the financial markets and managing client portfolios. Nasdaq's Giang Bui dives into another new survey on how “ETPs are empowering the next generation of investors”. Kelly ETFs' CEO Kevin Kelly spotlights their recently launched ETF lineup including the Kelly Residential & Apartment […]
CNBC's Bob Pisani spoke with Doug Peterson, President and CEO of S&P Global – along with Todd Rosenbluth, newly minted Head of Research at ETF Trends. They discussed the SEC's new climate change proposal – breaking down the ABC's of ESG – and a direct response from the head of S&P to those new rules. Plus, more on why active mutual fund managers continue to underperform – more proof that investors are embracing broader indexes and the ETFs tied to them. In the‘Markets 102' portion of the podcast, Bob continues the conversation with Doug Peterson, CEO of S&P Global.
If ETFs were living creatures, they might be cockroaches—they can survive almost anything. And yet Russia's invasion of Ukraine has presented a rare test. The VanEck Russia ETF, or $RSX, has seen its trading halted; the product holds shares of Russian companies, many of them in the energy and financial sectors. Investors may end up recovering only a fraction of their exposures; retail traders who used options to short the ETF ahead of its mid-February nosedive may not be able to collect their winnings, either. Elsewhere in the world, the exchange-traded product $VXX went haywire recently, with Barclays temporarily suspending share issuance. What's happening here? On this episode of Trillions, Eric and Joel discuss these recent events with Dave Nadig of ETF Trends, and Katie Greifeld, ETF reporter with Bloomberg News and the co-host of ETF IQ on Bloomberg TV. They go over the unprecedented nature of RSX's circumstances and what it all means, and they explore why the best days of exchange-traded notes might be behind them. Eric also adds audio from his native habitat: the Philadelphia train station. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
ETF Trends' Lara Crigger discusses surging investor interest in commodity ETFs. Global X's Jon Maier goes in-depth on the current financial markets and highlights several thematic ETFs. Loup Funds' Gene Munster explains the investment case for the index behind the Innovator Loup Frontier Tech ETF (LOUP).
ETF Trends' Dave Nadig offers the latest on Russia ETFs, along with Emerging Market ETFs with exposure to Russian securities. Emles' Gabriel Hammond explains their approach to the ETF market and spotlights several ETFs including the Emles Federal Contractors ETF (FEDX).
Hi everyone.Another week has gone by and the war in Ukraine continues. It feels self-indulgent to even write about investing from the comfort of a safe and warm home. Last weekend, I went to Washington Square Park to a demonstration. It wasn't as big a crowd as I had expected. Some Ukrainian friends went to Washington DC. Many more are active on Instagram, venting their anger, sharing their fears, and raising donations.As I experience the war through the “reality tunnel” of social media, I constantly have to remind myself that that the sheer quantity of attention-grabbing information is not equivalent to getting a high quality picture. It's Kahneman's “what you see is all there is” bias (or availability heuristic?). If my Twitter feed is filled with follies and fumbles by the Russian military (like busted tires, columns stuck in the mud or out of fuel, abandoned vehicles being lit on fire, even the paratroopers not living up to expectations), and yet they're advancing, then I'm probably getting a biased picture.We're witnessing what it's like to disconnect a modern economy from the rest of the world. Garry Kasparov called it the “technological stone age.” Axios had a list of companies withdrawing and the number of global brands participating seems unprecedented? You can find anecdotal evidence of the impact all over Twitter (helpful thread). For example: without Apple Pay and Google Pay you need cash and paper tickets.Marc Rubinstein wrote about the ongoing financial warfare: “as a means of inflicting economic pain, targeting the banking system is a good place to aim. The world learned that accidentally during the global financial crisis, and many European countries learned it again several years later.” With payment flows disconnected and trading on Moscow's exchange halted, Russian stocks crashed in London. There was an offer for Sberbank at stock at literally $0.00. Though I started getting confused when I saw the steep sell-off in Russian energy names. I was also astonished to discover that I own some 150 shares of Yandex in my personal account. As I looked at the stock, its price frozen, I faintly remembered thoughts like “oh, the Google of Russia, probably oversold, and surely Putin wouldn't risk his economy on some absurd 20th century invasion.” It's the kind of braindead trade - no, strike that, mindless gamble - that I unfortunately do from time to time. It was also a mistake that my mind apparently quickly dumped into the memory hole to protect my self image.. Talk about someone studying experts only to act like a complete amateur. It is my hope that by writing about it - by creating a kind of public shaming - I will finally rid myself of this behavior. And I will let Peter Lynch remind us all why compulsive bottom-fishing is treacherous:I was still confused about the price action in Russian stocks and the Russian ETF, RSX, which seemed to trade at a big premium to its NAV. I turned to Dave Nadig (Chief Investment Officer and Director of Research at ETF Trends) who has written about exactly this issue (and who also appeared on Infinite Loops).I hope you enjoy our brief conversation around this topic. For more context and charts check out Dave's writing and Twitter feed (Eric Balchunas is also good and of course Matt Levine has written about the issue as well).A few key takeaways:* There's precedent in an ETF's liquid underlying assets turning illiquid (or a permanent liquidity mismatch such as with junk bonds). The local stock exchange being closed is merely a special case. However, there are few precedents for the uncertainty around Russia given the small number of modern pariah states - think Iran, Cuba, North Korea.* Stock prices collapsing has a lot to do with the uncertainty around the status of the depositary receipts traded abroad. Gazprom's assets are valuable. It's equity is probably valuable. But depositary receipts owned by foreigners may or may not be valuable in the future. As Mark Gutman put it: “The value of a piece of paper that gives you rights to nothing is zero.”* With the underlying market closed, the ETF becomes a proxy for price discovery. But once the creation of new shares is suspended, it becomes disconnected from the value of the underlying, essentially like a close-end fund that can trade at a premium or discount to NAV. * The removal of Russian shares from emerging market indices (and therefore ETFs) at a price “at a price that is effectively zero” was particularly puzzling to me and Dave walked me through the process. Personally, I think these have at least some option value and it's going to be interesting to see if at some point in the future we'll hear about a creative trade.Meanwhile, Russian traders are left with what the Germans call Galgenhumor or gallows humor:“Dear stock market, you were close to us, you were interesting, rest in peace dear comrade.”Personally, I'm encouraged to see that the West is getting serious chasing down the oligarchs. Even Germany seized a $600 million yacht. (Although I'm not quite sure about the legal backdrop of seizing private property of people loosely affiliated with a hostile regime? If someone has a good background piece, I'd be interested). My hope is that pressure on Russia's elite could become Putin's undoing (and I could really use more hope when some people are talking about a 10 percent chance of the world ending).Still, it's worth considering the long-term implications and downside of economic warfare. Russia is going to move closer to China (worst case: a nuclear-armed vassal state?). The world will experience more sustained inflation in energy and food. And it saddens me to think that there are likely a great many people in Russia who don't support the war but can't risk jail or beatings to protest. Who will be fed propaganda and be censored in their speech. Feelings of hostility and bitterness among average people will get entrenched as the hearts harden.Men in my family fought and died in the German armed forces during WW2. My surviving grandparents, now in their late 80s, were children when the war ended and vividly remember the bombings, artillery shelling, and tense final days of fighting and surrender. These memories never leave. It's haunting to think that new ones much like them are being created as I write this. I hope this will be the last time I write about the war, but I doubt it.Stanley Druckenmiller interview with The Hustle in 2021:On the biggest risks to the equity market:Stanley Druckenmiller: Without a doubt: inflation strong enough that the Fed responds to it. No doubt about it. This bubble has gone long enough and it's extended enough that the minute they start tightening, the equity market should go down a lot. Particularly with so much of the cap weighted in growth stocks, which would be hit the worst. And our central case is that inflation occurs, but we're open-minded to something like ‘07-'08 when you never really got to the inflation because the bubble popped. So, inflation never got to the manifestation stage. This week* Letters: Dan McMurtrie on regime change* War Trades* Pod: Eric Mandelblatt of Soroban* Twitter Snacks: Greenblatt, Buffett, Steinberg, Paul Tudor Jones, James ClearDisclaimer: I write for entertainment purposes only. This is not investment advice. I am are not your fiduciary or advisor. Do your own work and seek your own financial, tax, and legal advice before making any investment decisions.
ETF Trends' Tom Hendrickson discusses how recent geopolitical events are impacting the ETF world and investor behavior. Direxion's Dave Mazza offers perspective on the current market environment and spotlights several thematic ETFs including the Direxion mRNA ETF (MSGR). Infrastructure Capital's Jay Hatfield explains the investment process behind the recently launched InfraCap Equity Income Fund (ICAP).
Tom Lydon, CEO of ETF Trends, says we are on pace for about $700B inflows into ETFs in 2022, with negative flows in the fixed income area. We saw nearly $1T of new ETF inflows last year. Investors are buying almost as much outside the US as they are adding to domestic equity ETFs, he explains. He discusses cryptocurrency futures ETFs. He gives his thoughts on commodity type and hedging type ETFs.
In this episode of ETF Battles, Ron DeLegge @ETFguide referees an audience requested quadruple-header duel between 4 momentum focused stock ETFs.This time it's iShares (MTUM), SPDRs (MTMM), JPMorgan (JMOM) and Vanguard (VFMO) going head-to-head. Who wins the battle?Program judges Dave Nadig with ETF Trends and Todd Rosenbluth from CFRA Resarch judge the ETF field, sharing their investing research insights. Each ETF is judged against the other in key categories like cost, exposure strategy, performance and a mystery category. Find out who wins the battle!*********ETF Battles is sponsored by: Direxion Daily Leveraged & Inverse ETFs. Know the risks. Proceed Boldly. Visit http://www.Direxion.com
In this Season 3 debut of ETF Battles, Ron DeLegge @ETFguide referees an audience requested triple-header match-up between three emerging markets ETFs. Program judges Dave Nadig with ETF Trends and Todd Rosenbluth from CFRA Resarch judge the ETF field, sharing their investing research insights. Each ETF is judged against the other in key categories like cost, exposure strategy, performance and a mystery category. Find out who wins the battle!*********ETF Battles is sponsored by: Direxion Daily Leveraged & Inverse ETFs. Know the risks. Proceed Boldly. Visit http://www.Direxion.com
In this episode of ETF Battles you'll watch a contest between S&P 500 ETFs. It's the SPDR S&P 500 Trust (SPY) vs. the Invesco S&P 500 Equal Weight ETF (RSP). SPY vs. RSP is like the granddaddy vs. the grandpappy because SPY was the very first U.S. listed ETF, while RSP was the first equal weighted ETF ever launched. Both funds have a long-term performance history, but which one is the better choice for investors? Ron DeLegge @ETFguide referees this S&P 500 ETF contest with guest judges Dave Nadig from ETF Trends and Eric Balchunas at Bloomberg sharing their research insights. Each ETF is judged against the other in key categories like cost, exposure strategy, performance, and a mystery category. Find out who wins the battle!*********ETF Battles is sponsored by: Direxion Daily Leveraged & Inverse ETFs. If you're ready for a bold trade, visit http://www.Direxion.com
In this episode of ETF Battles you'll watch an audience requested bitcoin bash between the ProShares Bitcoin Strategy ETF (BITO) against the Grayscale Bitcoin Trust (GBTC).Crypto linked funds are exploding in number and bitcoin is still king. But which bitcoin linked products in the ETF market are best? The quest for the perfect exchange-traded vehicle that closely tracks the price of bitcoin continues! Ron DeLegge @ETFguide referees this bitcoin ETF bash with guest judges Dave Nadig from ETF Trends and Eric Balchunas at Bloomberg sharing their research insights. Each ETF is judged against the other in key categories like cost, exposure strategy, performance, and a mystery category. Find out who wins the battle!*********ETF Battles is sponsored by: Direxion Daily Leveraged & Inverse ETFs. If you're ready for a bold trade, visit http://www.Direxion.com
Are you ready to go to rumble? In this episode of ETF Battles you'll see a head-to-head contest between the Vanguard Mega Cap Index ETF (MGC) vs. the Invesco S&P 500 Top 50 ETF (XLG)! Find out which megacap stock ETF is the better choice in another viewer requested matchup. Ron DeLegge @ETFguide referees this audience requested matchup with guest judges Dave Nadig at ETF Trends and Cinthia Murphy at ETF.com providing their research insights. Each ETF is judged against the other in key categories like cost, exposure strategy, performance, and a mystery category. Who wins the battle?
are you ready to go to rumble? In this episode of ETF Battles you'll see another viewer requested ETF matchup. This time it's a MASSIVE quadruple-header between covered call ETFs! It's JEPI vs. QYLD vs. NUSI vs. RYLD. If you're into passive income, don't miss it. Which ETF should you buy?Ron DeLegge @ETFguidereferees this audience requested matchup with guest judges Dave Nadig at ETF Trends and Cinthia Murphy at ETF.com providing their research insights. Each ETF is judged against the other in key categories like cost, exposure strategy, performance, yield and a mystery category. Find out who wins the battle!
Are you ready to go to the moon? In this episode you'll see a TRIPLE HEADER between 3 space travel and exploration ETFs. It's ARKX vs. ROKT vs. UFO, who wins? Ron DeLegge @ETFguide referees this audience requested matchup with guest judges Dave Nadig from ETF Trends and Todd Rosenbluth at CFRA Research providing their research insights. Each ETF is judged against the other in key categories like cost, exposure strategy, performance and a mystery category. Find out who wins the battle!
Looking for the best cybersecurity stocks and ETFs? In this episode you'll see an EPIC battle between the First Trust Nasdaq Cybersecurity ETF (CIBR), ETFMG Prime Cyber Security ETF (HACK), iShares Cybersecurity & Tech ETF (IHAK), and Global X Cybersecurity ETF (BUG). Find out which of these 4 cybersecurity ETFs is the best way to play this mega-investment theme. Ron DeLegge @ETFguide referees this matchup with guest judges Todd Rosenbluth at CFRA Research and Dave Nadig at ETF Trends providing their research insights. Each ETF is judged against the other in key categories like cost, exposure strategy, performance and a mystery category. Find out who wins the battle! Which ETF Battles would you like to see? Send us your ETF ticker symbols and why you'd like to see a certain matchup in the comment section below or on our Twitter feed @ETFguide