As inflows soar and market dislocations vanish, America’s exchange-traded fund market is back to the boom times.
Non-transparent ETFs are appealing for managers looking to shield their strategies from front-running or replication from rivals
An effort by investment giants including State Street, Vanguard, Fidelity and Invesco to redefine the $4 trillion U.S. exchange-traded fund universe has the industry’s smaller players bristling.
