Vanguard has a pair of bond options if fixed income investors are looking to get active with their portfolio.
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the Fidelity Corporate Bond ETF (FCOR) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF overall.
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the T. Rowe Price QM U.S. Bond ETF (TAGG) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF overall.
When BlackRock Inc. completed its initial public offering in 1999, it fell a bit flat. There was no first day pop; Founder and Chief Executive Officer Larry Fink didn’t even get to ring the opening bell at the New York Stock Exchange. Valued at just under $900 million, the firm was one of 30 large investment-managers in the US, managing $165 billion of assets.
In the wake of pandemic shocks, economies appear more “normal” than at any time since 2019. Yet policy rates remain elevated.
Alpha (α) is a fundamental yet poorly understood concept in finance. Simply put, it is the difference between the return of an investment and that of a risk-adjusted benchmark. In a more advanced definition, alpha is the residual in an asset pricing equation (see Appendix A). Alpha is what active managers strive to achieve and passive managers do not pursue.
Palmer Square Founder Chris Long discusses the $32 billion firm’s ETF entrance, spotlighting their Credit Opportunities ETF (PSQO) and CLO Senior Debt ETF (PSQA). VettaFi’s Todd Rosenbluth offers perspective on Bitwise’s XRP ETF filing, CLO ETFs, and the continued rise of actively managed ETFs.
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the Vanguard Core Plus Bond ETF (VPLS) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF overall.
Active fixed income ETFs have taken a big leap this year per new research about active ETFs that may draw new investor eyes.
Investors are adding to their fixed income exposure as imminent interest rate cuts create opportunities, according to Emmanuel Roman, chief executive officer of Pacific Investment Management Co.
With tax-loss harvesting season on the horizon, investors may want to consider a pair of tax-conscious, active fixed income ETFs.
Passive fixed income index investing has evolved significantly over the previous decade, offering investors the flexibility to align risk requirements and investment goals. Learn more from our experts.
The BlackRock Flexible Income ETF (BINC) launched less than 15 months ago and is already approaching $4 billion in AUM.
Actively managed ETFs continued to gain traction in July with $24 billion of net inflows. This represented 19% of the industry’s net inflows.
Over the past 20 years, the corporate bond market has experienced an evolution driven by cycles, regulatory shifts, and changing demand.
It's been another strong first half for the U.S. ETF industry, with overall flows set to challenge or surpass historic records.
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the PIMCO Active Bond Exchange-Traded Fund (BOND) with Chuck Jaffe of “Money Life.” The pair talked about several topics regarding the fund to give investors a deeper understanding of the ETF overall.
Across Europe, ruling parties are under pressure. Bond investors should stay active and invested, in our view.
BlackRock Inc. hauled in $51 billion of client cash to its long-term investment funds in the second quarter, pushing the world’s largest money manager to a record $10.6 trillion of assets.
More inflows into active bond ETFs during the month of June is following the overall trend of higher inflows since the start of the year.
Global X’s Rohan Reddy goes in-depth on the investment case for uranium and the Global X Uranium ETF (URA). VettaFi’s Kirsten Chang recaps second quarter ETF flows and looks ahead to the remainder of 2024.
Bond investors have been looking for an approach that delivers attractive, repeatable, uncorrelated active returns. Is their wait over?
BlackRock’s Dhruv Nagrath discusses the rise of bond ETFs and offers perspective on current fixed income markets. VettaFi’s Roxanna Islam explains a massive tech ETF rebalance and previews the expected debut of spot ether ETFs.
High interest rates continue to add a dose of uncertainty into the bond markets. Investors are responding by turning to active ETFs.
Alliance Bernstein converted two short duration mutual funds, worth almost $800 million in assets under management, into ETFs on Monday.
More investors opt for market flexibility with active funds as inflows are outshining their passive peers in the current market environment.
Interest in active fixed income products has swelled in 2024, as credit spreads narrow and the Federal Reserve holds fast to a “will they, won’t they” game.
On this week’s episode of ETF Prime, host Nate Geraci is joined by VettaFi Head of Research Todd Rosenbluth to discuss hedge funds embracing ETFs, spot ether ETFs, and a potential shortage of ETF tickers, among other topics. Afterward, Bancreek CEO and CIO Andrew Skatoff spoke with Geraci about his investment philosophy.
VettaFi’s Head of Research Todd Rosenbluth discussed the ALPS/SMITH Core Plus Bond ETF (SMTH) on this week’s “ETF of the Week” podcast with Chuck Jaffe of “Money Life.”
VanEck’s Matthew Sigel discusses the upcoming SEC decision on their spot ether ETF filing, the debut of VanEck’s Bitcoin Trust (HODL), and the investment case for ether and bitcoin. K&L Gates’ Rich Kerr provides a unique legal perspective on the recent multi-share class structure filings, spot ether ETFs, and the UK government potentially granting equivalence to US-domiciled ETFs. VettaFi’s Todd Rosenbluth offers new polling data around the ongoing fixed income conundrum.
The current macroenvironment could spell opportunity for active bond funds as bond yields may have peaked.
Ali Dibadj, CEO, shares the industry topics he’s hearing most in conversations with asset allocators, family offices, end-clients, colleagues, investors, and others he meets around the world.
VettaFi’s Todd Rosenbluth and Kirsten Chang discuss year-to-date ETF flows, along with tackling the challenges presented by fixed income right now. etf.com’s Kristin Myers previews their upcoming 2024 industry awards ceremony and highlights several hot ETF topics.
As the US economy hums along month after month, minting hundreds of thousands of new jobs and confounding experts who had warned of an imminent downturn, some on Wall Street are starting to entertain a fringe economic theory.
Fixed income poses big challenges and opportunities in 2024, with ETF leaders from several firms sharing their thoughts at ETF Exchange.
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the Fidelity Limited Term Bond ETF (FLTB) with Chuck Jaffe of “Money Life.” The pair talked about several topics regarding the fund to give investors a deeper understanding of the ETF overall.
VettaFi’s Todd Rosenbluth walks through the latest advisor polling data from their recently held Equity Symposium, highlighting several equity ETF categories. Troop’s Felix Tabary explains how the firm is making it easier to build and apply custom proxy voting policies across portfolios. Alpha Architect’s Jess Bost offers her unique framework on model portfolio construction and selecting ETFs.
Bond investors who are overly focused on individual data points may lose sight of the bigger opportunity picture.
After two volatile years, we believe conditions are especially compelling for fixed income.
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the PIMCO Multisector Bond Active ETF (PYLD) with Chuck Jaffe of “Money Life.” The pair talked about several topics regarding the fund to give investors a deeper understanding of the ETF overall.
Among the larger ETF providers, few have product stability like Vanguard. When changes do occur, that’s worthy of celebration. Last week, some of Vanguard’s fixed income leadership was in New York to help close the stock market at the Nasdaq. VettaFi was honored to join them.
Rodney Comegys, Global Head of Vanguard Equity Index Group, offers actionable insights to investors on how to select active strategies that can help them achieve investment success.
VettaFi sat down with Capital Group’s head of global product strategy and development Holly Framsted at the ETF Exchange conference in Miami to discuss the firm’s recent survey about active fixed income ETFs.
Higher for longer. This was the key message to me from advisors and ETF industry folks at the Exchange conference when talking about fixed income.
VettaFi’s Head of Research Todd Rosenbluth discussed the Capital Group Core Plus Income ETF (CGCP) on this week’s “ETF of the Week” podcast with Chuck Jaffe of “Money Life.”
VettaFi’s Lara Crigger goes in-depth on the Simplify Tail Risk Strategy ETF (CYA), which is down nearly 100%. PIMCO’s Greg Hall discusses the potential benefits of active management in fixed income and highlights the firm’s expanding ETF lineup.
Janus Henderson Investors Portfolio Managers Greg Wilensky and Jeremiah Buckley discuss what they consider the three essential elements of an effective balanced strategy in the current environment.
The first round of the ETF Playoffs has concluded! Exchange, a conference for financial services professionals, is happening in Miami, February 11-14. Since Exchange is hosting a party for the big game at Miami’s hottest club, LIV, we’re hosting an ETF championship bracket.
This week, follow Exchange on LinkedIn and vote for your favorite ETF trends of 2024.
While 2023 was the year of Fed rate hikes, the fixed income market is expecting 2024 to be the year of rate cuts. At the December 2023 meeting, the Federal Reserve’s own guidance was for three 25 basis point reductions in 2024.
Rates are heading down, volatility will increase and there is a 75% chance of a recession in 2024, according to Jeffrey Gundlach.
Strategas’ Todd Sohn and CFRA’s Aniket Ullal join in a roundtable discussion on several key ETFs and industry trends to watch in 2024. VettaFi’s Lara Crigger offers her ETF predictions for the upcoming year.
As 2023 is nearing its end, tax-loss harvesting season is in full swing. This is often top of mind for advisors and their clients. But Capital Group is seeing some advisors hesitate to harvest losses due to ongoing volatility in the equity and bond markets, and general uncertainty about 2024.
My guest, Courtney Wolf, joins me today to talk about why to deploy cash and use tax-loss harvesting via active fixed income ETFs. Courtney is a muni portfolio manager at Capital Group and the principal investment officer for the firm’s active muni ETF, CGMU. With nearly two decades of muni investing experience, Coutney will offer her forecast for munis more broadly in 2024 as well.
The first actively managed exchange traded funds came to market in 2008. But 2023 may be remembered as the year when the asset class matured, paving the way for broader long-term adoption.
The winter holiday season is here, and I wanted to join in the festivities. Recently, advisors have become more comfortable turning to active ETFs to help them and their clients navigate the uncertain market environment. Actively managed ETFs have gained traction in 2023.
Many advisors and investors in 2023 have turned to fixed income ETFs with an average duration of less than one year. Taking on very little interest rate risk through duration has been rewarding as well.
In a year in which little has gone right in the US bond market, November turned out to be a month for the record books.
What were the big ETF trends of 2023? David Mann, Global Head of ETF Product & Capital Markets, reviews some of his predictions for this year—and how they panned out.
More investors are turning to active management for their fixed income exposure. In a poll conducted by VettaFi, a third of respondents have more than half of their fixed income exposure tied to active management.
Advisors plan to allocate more to fixed income ETFs as 2024 approaches. In a poll conducted by VettaFi, attendees were asked what bond changes they were considering heading into year-end. And 60% of respondents said they plan to add to fixed income ETF exposure using proceeds from cash and/or equities.
On October 27, 2023, VettaFi hosted an Income Strategy Symposium that saw nearly 900 advisors and investors register for the event. The symposium was a success for everyone involved, and included some of the top firms and individuals in the industry offering their insights into several different income-related topics.
VettaFi hosted an Income Strategy Symposium that saw nearly 900 advisors and investors register for the event. The symposium was a success for everyone involved and included some of the top firms and individuals in the industry offering their insights into several different income-related topics.
Steve Brown, Chief Investment Officer for Total Return and Macro Strategies, discusses the portfolio strategy implications of the evolving geopolitical, economic, and policy landscape.
The third largest ETF recently reached the age of 13. Yes, the Vanguard 500 ETF (VOO) is now Taylor Swift’s lucky number. (Am I one of the first people to use Ms. Swift and Vanguard ETFs in the same sentence?)
Our September Cyclical Forum was the first to be held in London, where the economic situation today reflects what’s happening around the world.
Good news for bond investors: yields are likely to stay higher for longer. We share strategies for making the most of this environment.
Multi-sector fixed income strategies can deliver significant benefits to investors – including yield enhancement, volatility reduction and diversification of asset-class exposures – because of managers having the freedom to make tactical shifts between fixed-income sub-sectors.
Investment grade bonds from select emerging market sovereigns are solid defensive bets if the US slips into recession and China’s economy worsens, according to Vanguard Asset Services.
I discuss recent regime changes and reveal findings from the SPIVA scorecard and Morningstar’s U.S. Active/Passive Barometer.
Some of the biggest bond managers are sticking to their bullish view on the market for US government debt, even as that trade looks riskier by the day.
Interest-rate volatility on shorter-duration assets is running near historical highs, even as rate changes begin to level off.
Bond-market titans BlackRock Inc., Pacific Investment Management Co. and Vanguard Group Inc. are warning that recent violent swings in US Treasuries are only the beginning of a new era of volatility that’s here to stay until central banks conquer inflation.
Markets are still facing uncertainties regarding the impact of the Federal Reserve’s aggressive rate hikes and quantitative tightening, a potential economic slowdown, and the likelihood of other unforeseen consequences of financial disintermediation.
When March’s bank failures ignited a historic bond rally, few, if any, made more money than Josh Barrickman. His army of funds gained roughly $26 billion, the equivalent of more than $1 billion in paper profits every single trading session.
The pitch for an actively managed bond exchange-traded fund can be compelling, especially when there’s market turmoil and uncertainty
As investors seek to pinpoint market expectations for Federal Reserve policy, it’s critical to consider not just rate projections and derivatives pricing, but the degree of uncertainty and distribution of outcomes.
VettaFi’s Todd Rosenbluth evaluates Nate’s 2023 ETF predictions. Axel Merk spotlights the Merk Stagflation ETF (STGF) and the VanEck Merk Gold Trust (OUNZ). ETF Think Tank’s Cinthia Murphy offers an inside look at the booming ETF white labeling business.
Enjoy the latest Newsletter from Harold Evensky.
The value of completion mandates for defined benefit plans depends on the stage of the de-risking journey.
The market contraction presents better opportunities than we’ve seen in years to generate income, which we balance against the need for resilience in the face of a potential recession.
In our latest insight, we analyze the recent DALBAR study to determine how well (or not well) active fixed-income investors performed during the bull market and explain what we believe will be the best approach for fixed-income investing given the start of a pro-inflation paradigm shift.
The pandemic hastens the evolution of the DC plan landscape and challenges plan sponsors to evolve.
The surging volatility in the world’s biggest bond market is challenging traders trying to play both tighter global monetary policy and a war-induced commodity price shock that’s raising the specter of 1970s-style stagflation.
A crash to Earth for growth stocks and cryptocurrencies is one thing, but a sharp decline in mainstream bond mutual funds could spell enormous trouble. Signs are emerging of the beginnings of a potential downward spiral in these funds, which could ultimately lead to redemption halts and subsequent panic by retail investors.
Science and technology have disrupted the active fixed income asset management industry, as they have so many industries before it. With the conditions in place for scientific fixed income investing to flourish, investors have available both an alternative and a complement to the traditional active fixed income strategies that dominate their portfolios today.
Global bond investors face an old enemy -- inflation -- and the universe of fixed-income assets doesn’t look to offer much in the way of shelter.
The active/passive debate frequently focuses on equities, where active approaches have historically underperformed passive strategies. The story is decidedly different in the world of fixed income, where active managers can more easily exploit mispricing and other inefficiencies.
There’s considerable uncertainty in today’s municipal market. Questions persist about the likelihood of rising interest rates, inflation that may not be transitory and the impact on municipalities once the benefits of fiscal stimulus fades. Active bond managers have many decisions to make and need to be nimble in a changing landscape. What’s next for municipal bonds, and how can trading and portfolio management technology help investors navigate this changing environment?
Is it time to give newer or smaller exchange-traded funds (ETFs) a look?
Active Fixed Income
As Active ETFs Grow Worldwide, Here's 2 Bond Options
Vanguard has a pair of bond options if fixed income investors are looking to get active with their portfolio.
Fidelity Corporate Bond ETF (FCOR)
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the Fidelity Corporate Bond ETF (FCOR) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF overall.
T. Rowe Price QM US Bond ETF (TAGG)
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the T. Rowe Price QM U.S. Bond ETF (TAGG) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF overall.
BlackRock’s Third Pivot Is Its Most Adventurous Yet
When BlackRock Inc. completed its initial public offering in 1999, it fell a bit flat. There was no first day pop; Founder and Chief Executive Officer Larry Fink didn’t even get to ring the opening bell at the New York Stock Exchange. Valued at just under $900 million, the firm was one of 30 large investment-managers in the US, managing $165 billion of assets.
Securing the Soft Landing
In the wake of pandemic shocks, economies appear more “normal” than at any time since 2019. Yet policy rates remain elevated.
The Alpha Equation: Myths and Realities
Alpha (α) is a fundamental yet poorly understood concept in finance. Simply put, it is the difference between the return of an investment and that of a risk-adjusted benchmark. In a more advanced definition, alpha is the residual in an asset pricing equation (see Appendix A). Alpha is what active managers strive to achieve and passive managers do not pursue.
Palmer Square’s Chris Long on CLO ETFs, Private Credit, & More
Palmer Square Founder Chris Long discusses the $32 billion firm’s ETF entrance, spotlighting their Credit Opportunities ETF (PSQO) and CLO Senior Debt ETF (PSQA). VettaFi’s Todd Rosenbluth offers perspective on Bitwise’s XRP ETF filing, CLO ETFs, and the continued rise of actively managed ETFs.
Vanguard Core Plus Bond ETF (VPLS)
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the Vanguard Core Plus Bond ETF (VPLS) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF overall.
Active Fixed Income ETFs Have Seen Flows Jump in 2024
Active fixed income ETFs have taken a big leap this year per new research about active ETFs that may draw new investor eyes.
Pimco CEO Roman Says Investors Are Piling into Fixed Income
Investors are adding to their fixed income exposure as imminent interest rate cuts create opportunities, according to Emmanuel Roman, chief executive officer of Pacific Investment Management Co.
Tax-Loss Harvesting? These Fixed Income ETFs Deserve a Look
With tax-loss harvesting season on the horizon, investors may want to consider a pair of tax-conscious, active fixed income ETFs.
Index Investing as an Active Decision: Implications for Fixed Income Investors
Passive fixed income index investing has evolved significantly over the previous decade, offering investors the flexibility to align risk requirements and investment goals. Learn more from our experts.
Golden Age for Fixed Income at BlackRock
The BlackRock Flexible Income ETF (BINC) launched less than 15 months ago and is already approaching $4 billion in AUM.
Growing Supply of Active Municipal Bond ETFs
Actively managed ETFs continued to gain traction in July with $24 billion of net inflows. This represented 19% of the industry’s net inflows.
Notes from the Desk: The Evolution of the Corporate Bond Market
Over the past 20 years, the corporate bond market has experienced an evolution driven by cycles, regulatory shifts, and changing demand.
U.S. ETF Flows: Investors Are Getting Polarized
It's been another strong first half for the U.S. ETF industry, with overall flows set to challenge or surpass historic records.
PIMCO Active Bond ETF (BOND)
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the PIMCO Active Bond Exchange-Traded Fund (BOND) with Chuck Jaffe of “Money Life.” The pair talked about several topics regarding the fund to give investors a deeper understanding of the ETF overall.
European Bonds: Have France’s Elections Changed the Game?
Across Europe, ruling parties are under pressure. Bond investors should stay active and invested, in our view.
BlackRock Hits $10.6 Trillion Asset Record, Cites ETF Boost
BlackRock Inc. hauled in $51 billion of client cash to its long-term investment funds in the second quarter, pushing the world’s largest money manager to a record $10.6 trillion of assets.
Active Bond ETFs Continue to See Record Inflows This Year
More inflows into active bond ETFs during the month of June is following the overall trend of higher inflows since the start of the year.
Global X’s Rohan Reddy Lays Out Investment Case for Uranium
Global X’s Rohan Reddy goes in-depth on the investment case for uranium and the Global X Uranium ETF (URA). VettaFi’s Kirsten Chang recaps second quarter ETF flows and looks ahead to the remainder of 2024.
The New Frontier in Fixed Income: Systematic Investing
Bond investors have been looking for an approach that delivers attractive, repeatable, uncorrelated active returns. Is their wait over?
BlackRock’s Dhruv Nagrath Discusses Fixed Income Markets, Bond ETF Growth
BlackRock’s Dhruv Nagrath discusses the rise of bond ETFs and offers perspective on current fixed income markets. VettaFi’s Roxanna Islam explains a massive tech ETF rebalance and previews the expected debut of spot ether ETFs.
Uncertainty Forces Investors to Rethink Active Management
High interest rates continue to add a dose of uncertainty into the bond markets. Investors are responding by turning to active ETFs.
AB Converts Short Duration Mutual Funds Into ETFs
Alliance Bernstein converted two short duration mutual funds, worth almost $800 million in assets under management, into ETFs on Monday.
Active Fixed Income ETF Inflows Outshine Passive Peers
More investors opt for market flexibility with active funds as inflows are outshining their passive peers in the current market environment.
Golden Age for Active Bond ETFs?
Interest in active fixed income products has swelled in 2024, as credit spreads narrow and the Federal Reserve holds fast to a “will they, won’t they” game.
Around the World of ETFs with VettaFi’s Todd Rosenbluth
On this week’s episode of ETF Prime, host Nate Geraci is joined by VettaFi Head of Research Todd Rosenbluth to discuss hedge funds embracing ETFs, spot ether ETFs, and a potential shortage of ETF tickers, among other topics. Afterward, Bancreek CEO and CIO Andrew Skatoff spoke with Geraci about his investment philosophy.
ALPS/SMITH Core Plus Bond ETF (SMTH)
VettaFi’s Head of Research Todd Rosenbluth discussed the ALPS/SMITH Core Plus Bond ETF (SMTH) on this week’s “ETF of the Week” podcast with Chuck Jaffe of “Money Life.”
VanEck’s Matthew Sigel on Spot Ether ETF, HODL, & Crypto’s Investment Case
VanEck’s Matthew Sigel discusses the upcoming SEC decision on their spot ether ETF filing, the debut of VanEck’s Bitcoin Trust (HODL), and the investment case for ether and bitcoin. K&L Gates’ Rich Kerr provides a unique legal perspective on the recent multi-share class structure filings, spot ether ETFs, and the UK government potentially granting equivalence to US-domiciled ETFs. VettaFi’s Todd Rosenbluth offers new polling data around the ongoing fixed income conundrum.
Surging Yields May Spell Opportunity for Active Bond Funds
The current macroenvironment could spell opportunity for active bond funds as bond yields may have peaked.
Investing Together: Client Conversations
Ali Dibadj, CEO, shares the industry topics he’s hearing most in conversations with asset allocators, family offices, end-clients, colleagues, investors, and others he meets around the world.
ETF Flows, Fixed Income Conundrum, & Industry Awards
VettaFi’s Todd Rosenbluth and Kirsten Chang discuss year-to-date ETF flows, along with tackling the challenges presented by fixed income right now. etf.com’s Kristin Myers previews their upcoming 2024 industry awards ceremony and highlights several hot ETF topics.
What If Fed Rate Hikes Are Actually Sparking US Economic Boom?
As the US economy hums along month after month, minting hundreds of thousands of new jobs and confounding experts who had warned of an imminent downturn, some on Wall Street are starting to entertain a fringe economic theory.
Is Your Fixed Income Allocation Up to Par?
Fixed income poses big challenges and opportunities in 2024, with ETF leaders from several firms sharing their thoughts at ETF Exchange.
Fidelity Limited Term Bond ETF (FLTB)
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the Fidelity Limited Term Bond ETF (FLTB) with Chuck Jaffe of “Money Life.” The pair talked about several topics regarding the fund to give investors a deeper understanding of the ETF overall.
Equity ETFs, Proxy Voting, & Model Portfolio Construction
VettaFi’s Todd Rosenbluth walks through the latest advisor polling data from their recently held Equity Symposium, highlighting several equity ETF categories. Troop’s Felix Tabary explains how the firm is making it easier to build and apply custom proxy voting policies across portfolios. Alpha Architect’s Jess Bost offers her unique framework on model portfolio construction and selecting ETFs.
Fixed-Income Outlook: Don’t Miss the Forest for the Trees
Bond investors who are overly focused on individual data points may lose sight of the bigger opportunity picture.
Shocking Bonds: Evaluating Advisor Fixed Income Portfolios as the Fed Enters Its Next Phase
After two volatile years, we believe conditions are especially compelling for fixed income.
PIMCO Multisector Bond Active ETF (PYLD)
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the PIMCO Multisector Bond Active ETF (PYLD) with Chuck Jaffe of “Money Life.” The pair talked about several topics regarding the fund to give investors a deeper understanding of the ETF overall.
Vanguard’s Recent Active ETF Expansion Worthy of Celebration
Among the larger ETF providers, few have product stability like Vanguard. When changes do occur, that’s worthy of celebration. Last week, some of Vanguard’s fixed income leadership was in New York to help close the stock market at the Nasdaq. VettaFi was honored to join them.
An Indexer’s Ode to Active
Rodney Comegys, Global Head of Vanguard Equity Index Group, offers actionable insights to investors on how to select active strategies that can help them achieve investment success.
Capital Group’s Framsted on Active Fixed Income ETFs
VettaFi sat down with Capital Group’s head of global product strategy and development Holly Framsted at the ETF Exchange conference in Miami to discuss the firm’s recent survey about active fixed income ETFs.
Higher For Longer In Focus at Exchange
Higher for longer. This was the key message to me from advisors and ETF industry folks at the Exchange conference when talking about fixed income.
Capital Group Core Plus Income ETF (CGCP)
VettaFi’s Head of Research Todd Rosenbluth discussed the Capital Group Core Plus Income ETF (CGCP) on this week’s “ETF of the Week” podcast with Chuck Jaffe of “Money Life.”
Tail Risk ETFs, Active Fixed Income, & PIMCO’s ETF Lineup
VettaFi’s Lara Crigger goes in-depth on the Simplify Tail Risk Strategy ETF (CYA), which is down nearly 100%. PIMCO’s Greg Hall discusses the potential benefits of active management in fixed income and highlights the firm’s expanding ETF lineup.
Does Your Balanced Fund Have These Three Essentials?
Janus Henderson Investors Portfolio Managers Greg Wilensky and Jeremiah Buckley discuss what they consider the three essential elements of an effective balanced strategy in the current environment.
ETF Playoffs Final 4 Have Been Chosen!
The first round of the ETF Playoffs has concluded! Exchange, a conference for financial services professionals, is happening in Miami, February 11-14. Since Exchange is hosting a party for the big game at Miami’s hottest club, LIV, we’re hosting an ETF championship bracket.
The ETF Playoffs
This week, follow Exchange on LinkedIn and vote for your favorite ETF trends of 2024.
Advisors More Conservative About Rate Cuts
While 2023 was the year of Fed rate hikes, the fixed income market is expecting 2024 to be the year of rate cuts. At the December 2023 meeting, the Federal Reserve’s own guidance was for three 25 basis point reductions in 2024.
Gundlach: For 2024, Expect Lower Rates, Higher Volatility and a Recession
Rates are heading down, volatility will increase and there is a 75% chance of a recession in 2024, according to Jeffrey Gundlach.
Key ETFs & Industry Trends to Watch in 2024
Strategas’ Todd Sohn and CFRA’s Aniket Ullal join in a roundtable discussion on several key ETFs and industry trends to watch in 2024. VettaFi’s Lara Crigger offers her ETF predictions for the upcoming year.
How Muni-Bond ETFs Help with Tax-Loss Harvesting
As 2023 is nearing its end, tax-loss harvesting season is in full swing. This is often top of mind for advisors and their clients. But Capital Group is seeing some advisors hesitate to harvest losses due to ongoing volatility in the equity and bond markets, and general uncertainty about 2024.
My guest, Courtney Wolf, joins me today to talk about why to deploy cash and use tax-loss harvesting via active fixed income ETFs. Courtney is a muni portfolio manager at Capital Group and the principal investment officer for the firm’s active muni ETF, CGMU. With nearly two decades of muni investing experience, Coutney will offer her forecast for munis more broadly in 2024 as well.
Active ETFs Came of Age in 2023
The first actively managed exchange traded funds came to market in 2008. But 2023 may be remembered as the year when the asset class matured, paving the way for broader long-term adoption.
8 Under-the-Radar Active ETFs for the Holidays
The winter holiday season is here, and I wanted to join in the festivities. Recently, advisors have become more comfortable turning to active ETFs to help them and their clients navigate the uncertain market environment. Actively managed ETFs have gained traction in 2023.
Chart of the Week: Advisors Willing to Take on Rate Risk
Many advisors and investors in 2023 have turned to fixed income ETFs with an average duration of less than one year. Taking on very little interest rate risk through duration has been rewarding as well.
Biggest Blowout in Bonds Since the 1980s Sparks Everything Rally
In a year in which little has gone right in the US bond market, November turned out to be a month for the record books.
Year in Review: 2023 ETF Predictions Report Card
What were the big ETF trends of 2023? David Mann, Global Head of ETF Product & Capital Markets, reviews some of his predictions for this year—and how they panned out.
The Benefits of Active Fixed Income Investing
More investors are turning to active management for their fixed income exposure. In a poll conducted by VettaFi, a third of respondents have more than half of their fixed income exposure tied to active management.
Advisors to Up Allocation to Fixed Income ETFs Ahead of 2024
Advisors plan to allocate more to fixed income ETFs as 2024 approaches. In a poll conducted by VettaFi, attendees were asked what bond changes they were considering heading into year-end. And 60% of respondents said they plan to add to fixed income ETF exposure using proceeds from cash and/or equities.
What You Might Have Missed at Friday’s Income Strategy Symposium
On October 27, 2023, VettaFi hosted an Income Strategy Symposium that saw nearly 900 advisors and investors register for the event. The symposium was a success for everyone involved, and included some of the top firms and individuals in the industry offering their insights into several different income-related topics.
What You Might Have Missed at Friday's Income Strategy Symposium
VettaFi hosted an Income Strategy Symposium that saw nearly 900 advisors and investors register for the event. The symposium was a success for everyone involved and included some of the top firms and individuals in the industry offering their insights into several different income-related topics.
Macro Markets Podcast Episode 42: The Active Fixed-Income Playbook for Elevated Uncertainty
Steve Brown, Chief Investment Officer for Total Return and Macro Strategies, discusses the portfolio strategy implications of the evolving geopolitical, economic, and policy landscape.
VOO Reached a Key Milestone and Pairs Well With Bond ETFs
The third largest ETF recently reached the age of 13. Yes, the Vanguard 500 ETF (VOO) is now Taylor Swift’s lucky number. (Am I one of the first people to use Ms. Swift and Vanguard ETFs in the same sentence?)
Post Peak
Our September Cyclical Forum was the first to be held in London, where the economic situation today reflects what’s happening around the world.
Fixed-Income Outlook: The View from Higher Elevations
Good news for bond investors: yields are likely to stay higher for longer. We share strategies for making the most of this environment.
Systematic Fixed Income: A Breakthrough in Bond Investing
Bond investors have been looking for an approach that delivers attractive, repeatable, uncorrelated active returns. Is their wait over?
Bonds: Bigger, Broader, More Diverse Opportunity Set than Stocks
Multi-sector fixed income strategies can deliver significant benefits to investors – including yield enhancement, volatility reduction and diversification of asset-class exposures – because of managers having the freedom to make tactical shifts between fixed-income sub-sectors.
Vanguard Sees EM High Grade Debt as ‘Rainy Day’ Bet Amid US Risk
Investment grade bonds from select emerging market sovereigns are solid defensive bets if the US slips into recession and China’s economy worsens, according to Vanguard Asset Services.
How to Find Golden Needles in the Fixed income Haystack
I discuss recent regime changes and reveal findings from the SPIVA scorecard and Morningstar’s U.S. Active/Passive Barometer.
Bets on ‘Year of the Bond’ Persist in Face of Still-Hawkish Fed
Some of the biggest bond managers are sticking to their bullish view on the market for US government debt, even as that trade looks riskier by the day.
What Investors Need To Know About the Surge in Interest Rate Volatility
Interest-rate volatility on shorter-duration assets is running near historical highs, even as rate changes begin to level off.
Pimco, BlackRock Call End to Era of Stable Borrowing Costs
Bond-market titans BlackRock Inc., Pacific Investment Management Co. and Vanguard Group Inc. are warning that recent violent swings in US Treasuries are only the beginning of a new era of volatility that’s here to stay until central banks conquer inflation.
Second Quarter 2023 Fixed-Income Sector Views
Markets are still facing uncertainties regarding the impact of the Federal Reserve’s aggressive rate hikes and quantitative tightening, a potential economic slowdown, and the likelihood of other unforeseen consequences of financial disintermediation.
Vanguard’s Trillion-Dollar Man Leads a Fixed-Income Revolution
When March’s bank failures ignited a historic bond rally, few, if any, made more money than Josh Barrickman. His army of funds gained roughly $26 billion, the equivalent of more than $1 billion in paper profits every single trading session.
The Pros Fail to Meet the Moment With Bond ETFs
The pitch for an actively managed bond exchange-traded fund can be compelling, especially when there’s market turmoil and uncertainty
Trying to Make Apple Juice from Oranges: The Problem with Comparing Market Pricing and Fed Projections
As investors seek to pinpoint market expectations for Federal Reserve policy, it’s critical to consider not just rate projections and derivatives pricing, but the degree of uncertainty and distribution of outcomes.
ETF Predictions, Stagflation, & White Labeling
VettaFi’s Todd Rosenbluth evaluates Nate’s 2023 ETF predictions. Axel Merk spotlights the Merk Stagflation ETF (STGF) and the VanEck Merk Gold Trust (OUNZ). ETF Think Tank’s Cinthia Murphy offers an inside look at the booming ETF white labeling business.
NewsLetter - December 2022
Enjoy the latest Newsletter from Harold Evensky.
Understanding the Completion Mandate Value Proposition
The value of completion mandates for defined benefit plans depends on the stage of the de-risking journey.
Income Fund Update: Higher Yields, Wider Spreads, Greater Opportunities
The market contraction presents better opportunities than we’ve seen in years to generate income, which we balance against the need for resilience in the face of a potential recession.
Bond Investors Underperformed Despite A Bull Market. Now What?
In our latest insight, we analyze the recent DALBAR study to determine how well (or not well) active fixed-income investors performed during the bull market and explain what we believe will be the best approach for fixed-income investing given the start of a pro-inflation paradigm shift.
The New Defined Contribution Landscape
The pandemic hastens the evolution of the DC plan landscape and challenges plan sponsors to evolve.
Bond Market Swinging Between Rallies, Routs Dizzies Traders
The surging volatility in the world’s biggest bond market is challenging traders trying to play both tighter global monetary policy and a war-induced commodity price shock that’s raising the specter of 1970s-style stagflation.
Bond Funds Lurk as a Challenge to Fed’s Inflation Fight
A crash to Earth for growth stocks and cryptocurrencies is one thing, but a sharp decline in mainstream bond mutual funds could spell enormous trouble. Signs are emerging of the beginnings of a potential downward spiral in these funds, which could ultimately lead to redemption halts and subsequent panic by retail investors.
Introducing Scientific Fixed-Income ETFs
Science and technology have disrupted the active fixed income asset management industry, as they have so many industries before it. With the conditions in place for scientific fixed income investing to flourish, investors have available both an alternative and a complement to the traditional active fixed income strategies that dominate their portfolios today.
Bond Investors Face Year of Peril With Few Places to Hide
Global bond investors face an old enemy -- inflation -- and the universe of fixed-income assets doesn’t look to offer much in the way of shelter.
Municipal Bonds: The Advantages of Active Management
The active/passive debate frequently focuses on equities, where active approaches have historically underperformed passive strategies. The story is decidedly different in the world of fixed income, where active managers can more easily exploit mispricing and other inefficiencies.
Taking Muni Bonds to the Next Level: Where Cutting-Edge Tech and Fundamental Research Meet
There’s considerable uncertainty in today’s municipal market. Questions persist about the likelihood of rising interest rates, inflation that may not be transitory and the impact on municipalities once the benefits of fiscal stimulus fades. Active bond managers have many decisions to make and need to be nimble in a changing landscape. What’s next for municipal bonds, and how can trading and portfolio management technology help investors navigate this changing environment?
Take the Time to Love ETF Liquidity
Is it time to give newer or smaller exchange-traded funds (ETFs) a look?