The S&P 500’s recent advance is masking a more dynamic story for US equity investors. Market winners remain confined to a tight clique of AI-related technology stocks, yet more companies are showing attractive fundamentals. For active equity investors, we believe this points to a more diversified and differentiated opportunity set ahead.
Close to 40 years ago, I moved from Canada to the U.S. after acquiring a controlling interest in U.S. Global Investors. I’ve built my entire life and career here, and in all that time, I’ve never stopped marveling at my adopted country.
Bypass the headaches of individual closed-end funds. Discover how Invesco's PCEF bundles over 100 CEFs to capture June's debt rallies.
The U.S. Treasury launched the Trump Accounts for childhood wealth building. Discover the five low-cost index ETFs anchoring the program.
Wage growth peaked four years ago. Since 1985, it has led CPI by three to seventeen months in every single cycle. The May 4.2% inflation print is the noise. Watch the wages.
While the Federal Reserve left interest rates unchanged at the latest meeting, investors increasingly speculate that rate hikes are on the table in 2026.
The most interesting shift in market price action in June was the strong outperformance of value stocks compared to the broad market and tech
A growing share of central bankers argue that artificial intelligence will ultimately push neutral interest rates higher. Intuitively, if AI boosts productivity and lifts long-run growth, then households have less incentive to save, pushing up the real neutral rate.
This video explains why the phrase "buy and hold" is often misunderstood and why successful long-term investing requires much more than simply buying stocks and never selling them. Chuck Carnevale, Co-founder of FAST Graphs, aka Mr. Valuation argues that buy-and-hold can be an excellent strategy, but only when investors purchase high-quality businesses at sensible valuations.
Six months is enough time for a lot to change. Your income, your expenses, your goals, and even the broader economy may look different than they did at the start of the year. And a plan that made sense in January might not fit the reality you're living in now.
Most global investors are not attuned to what can be seen on the horizon, not far from shore. After the Great Financial Crisis, Europe was slow to address the underlying capital issues. Rather than guillotining the problems, they allowed a slow bleed to take place.
America has proven that men and women not only can make their own history, but they can make it as they please, with circumstances chosen by themselves.
Midway through 2026, Franklin Templeton Institute’s Global Investment Outlook framework remains a valuable lens—but the landscape has shifted.
The U.S. nuclear sector advanced on two fronts in recent days. Advanced microreactors completed a key federal target while the existing commercial fleet signed a landmark agreement with a major retailer. These moves show momentum at both the innovation edge and the operating base.
This week, the Fourth of July, the 250th birthday of the greatest experiment in self-governance the world has ever seen, I want to do something different. I want to celebrate. And I want to use a lens I genuinely did not expect to be reaching for: the reactions of soccer fans from around the world who came to the United States for the 2026 FIFA World Cup and discovered, to their own astonishment, that they loved it.
The war in Iran has delivered an oil shock into a bond market that had not fully shaken inflation pressures. Higher energy prices have revived concerns about the path of inflation just as central banks were edging toward rate cuts, forcing a reassessment of what investors require to hold long-term bonds. That reassessment is now playing out in higher long-term yields and steeper yield curves globally.
AI-related disruption, asset valuations and borrower stress have put private credit under a microscope lately. Is this a market facing its first major test after a decade of rapid growth? If it is, we expect it to pass comfortably.
This July, the United States marks its 250th anniversary, and that has many Americans thinking about what independence really means. In many ways, genuine independence is about more than political rights. It’s financial.
The Federal Reserve left interest rates unchanged at its June 17 meeting, but investors were more focused on the future under new Fed Chair Kevin Warsh, whom Trump appointed in May.
Federal estate taxes may not affect most households, but state death taxes can still be significant. Learn key planning considerations and strategies to help preserve wealth.
The strong run by the Nasdaq-100 and the S&P 500 the last few years has loaded portfolios with heavy concentration risk. As a tiny group of mega cap tech giants shapes the market, finding meaningful diversification has become a priority for advisors. Data from last week’s VettaFi Mid-Year Market Outlook Symposium confirms that wealth managers are actively looking down the market-cap spectrum to rebalance risk.
Productivity is an essential component of economic success. It allows for growth without inflation; compensates for demographic deficits; and helps nations attract investment.
The dollar holds a central place in global markets due to its role as the world’s reserve currency. Its movements influence cross-asset correlations, shape liquidity conditions, and often offer early indications of shifts in the broader macro regime. In short, it is a critical variable that warrants close attention.
One should always take government data with a grain of salt. But if we aren’t going to reject it outright (if we do, we have nothing at all to go on), we should at least analyze it with a microscope. The headlines touted by your mainstream pundits almost always miss the real story.
Today’s market backdrop reflects a tension between expectations and reality. Despite higher oil prices and plenty of geopolitical noise, the US economy remains resilient and durable, supported by steady consumer spending, a labor market finding its footing, ongoing fiscal support and a surge in AI and infrastructure investment.
At VettaFi, we’ve been talking a lot about bottlenecks as a concept. Some of the brightest equity market opportunities for capital growth are tied to bottlenecks in a supply chain-context.
U.S.-listed ETFs locked in a record-breaking first half of the year. Read the analysis on active ETFs, fixed income shifts, and equity flows.
Former Fed Chair Alan Greenspan’s passing has brought a stream of retrospectives on his approaches to managing the economy. He erred on the side of parsimony, favoring short public statements. Greenspan’s vague communication style offered little clarity over the future path of interest rates.
The second quarter wraps up today, and it was a good one. With the S&P 500 having returned more than 14% (including dividends) with just one trading day left, it will almost certainly end up being the best quarter for the index since the second quarter of 2020. Technology was the leader despite the June weakness.
The Mag 7 has been the single largest driver of the stock market’s performance three straight years, accounting for over 20% of the S&P 500’s performance. However, there is a performance divergence happening in 2026 as the S&P 500 continues to go up, while the Mag7 go down.
A look at the resilient global economy, evolving market opportunities, and key risks shaping the investment outlook.
At first glance, allocating to emerging markets appears to add diversification to a portfolio. Look more closely, and the reality is more nuanced. In the late 1990s, the MSCI EM index was dominated by materials and telecoms, driven by the growth of mobile telephony and the internet bubble.
Markets weathered turmoil in the first half, helped by solid earnings with signs of broadening beyond a few AI beneficiaries. If the war in Iran eases, oil prices could normalize, reducing inflation pressure. Still, growth, inflation and policy risks may be underestimated.
Global stocks surged during the second quarter as oversold conditions in March and de-escalation in the Middle East created ripe conditions for a rally. In the United States, the large-cap S&P 500 index climbed by 13%, while the small-cap Russell 2000 index increased by nearly 25% (yCharts).
There’s no doubt the most important aspect to the June FOMC meeting was the fact that policymakers kept the Fed funds rate unchanged and removed its prior easing bias. But, this was not just your normal, run-of-the-mill policy gathering. It was Kevin Warsh’s first meeting as Fed Chair and instead of being a ‘rubber stamp’ for rate cuts, as some market observers were opining, the new FOMC leader put his stamp on the Fed in a different way.
June saw strong market fundamentals once again in conflict with macroeconomic uncertainties, creating a choppy market. While a durable peace plan with Iran is seemingly underway, investors have regarded the negotiations with caution, pricing in potential setbacks.
Markets may have ended the first quarter with a thud, but stocks put another record run in the books to close out the first half of 2026. The U.S. ETF market had already shattered records, crossing the $15 trillion threshold and cruising past $1 trillion in net inflows right before summer officially began.
It’s been a long time coming for the asset management world, but ETF share classes are now a reality. Fidelity Investments has joined that movement, with the launch of its first ETF share classes for some of its mutual funds.
As growth stumbled, the S&P 500 Momentum Index captures a 7.5% gain in June and a 44% gain in the second quarter.
While the Middle East is still far from calm, it does appear the worst of the volatility in the region is in the past. The U.S.-Iran ceasefire is in place, with negotiations underway for a more durable peace.
A strong quarter across major indexes. The second quarter is winding down and what a quarter it has been with the S&P 500 up 12.6% quarter to date, while the Nasdaq-100 and Russell 2000 are both up over 20%. Despite some twists and turns, the path of least resistance for stocks broadly remained up and to the right for much of the last three months.
Startup equity decisions often happen before a founder has a full advisory team in place. Formation documents get signed, vesting schedules are approved, and the tax consequences may not feel urgent because the company is still young.
In our view, this divergence continues to reflect how the buildout of artificial intelligence (AI) is influencing both the economy and markets as it progresses across the value chain, even as the associated costs continue to climb.
The sharp retreat in oil prices has dramatically altered the market narrative. Just weeks ago, investors feared a renewed inflation shock from the conflict with Iran. Instead, crude has fallen back toward pre-conflict levels, Treasury yields have declined, and markets have begun rotating aggressively away from the large tech hyperscaler, the Magnificent Seven, that dominated recently and toward more cyclical and value-oriented sectors.
Benchmarks are broken. That was the premise established in a conversation with Samarth Sanghavi, head of fixed income index product at TMX VettaFi, when the problem was first addressed in a previous article. TMX VettaFi creates innovative index solutions, and with the premise established that benchmarks are indeed broken, here is the fix.
Geopolitics, artificial intelligence, and inflation each took their turn commanding market attention last week. U.S. equities were mixed, as a pullback in technology names masked broadening performance beneath the surface.
Insurance investors face a broader opportunity set than ever across public and private credit—from corporate lending to asset-based finance. But those investments come in many forms. In our view, a all-encompassing approach can better assess relative value, pivot to new avenues and align investments with portfolio, liability and regulatory considerations.
For decades, financial advisors have built strong relationships by helping clients manage IRAs, taxable accounts, and rollover assets after they leave an employer. Meanwhile, a significant, often the largest pool, of client wealth has quietly remained out of reach: assets inside workplace retirement plans.
The ETF ecosystem is always changing and growing. Thanks to the ETF’s flexibility, transparency, and tradability, it can help investors achieve plenty of bespoke goals. That even includes investing with an eye towards philanthropic causes as with philanthropic ETFs ASD and DUTY.
The money is REAL. The question was never whether it exists. It’s who’s spending it, and what they borrowed to do it. When the wall of cash and the bottom half finally commit to risk at the same moment the Fed turns hawkish, that’s not the start of something. That’s the part of the cycle where the careful investor gets paid to be careful.
