Liquid Alternatives ETFs

Liquid alternatives, often shortened to just “liquid alts,” is the name given to investments that can be sold at any time and fall outside the traditional categories of stocks, bonds, and cash. Breaking down the two words, “liquid” refers to investment vehicles that...

Factor Benchmark ETFs

Investment factors have been around for decades, but ETFs targeting single and multiple factors are a much newer invention. However, that doesn’t stop index providers and investment researchers from constructing hypothetical indexes and detailing their hypothetical...

Sector Benchmark ETFs

“You cannot invest in an index” is the standard disclosure that accompanies any index returns when used as a performance benchmark. Therefore, I try to avoid the use of indexes whenever possible. To me, it makes much more sense to look at vehicles that you can invest...

Broken Products

Any exchange-traded fund (“ETF”) or exchange-traded note (“ETN”) without a fully functional creation and redemption mechanism is a broken product. ETFs and ETNs are unique securities. The primary feature that differentiates them from other investment vehicles is the...