ETF strategists are professional investors who create model portfolios that financial advisers can bring to their retail clients. You can think of them almost like chefs — experts who know how to combine the right ingredients into recipes that, if everything goes as planned, can achieve a desired outcome. On this episode — a special episode that coincides with the debut of their new Bloomberg Quicktake show, “Trillions Presents: ETF Master Chefs” — Eric and Joel host ETF strategists Shana Sissel, CIO of Spotlight Asset Group, John Davi, founder of Astoria Portfolio Advisors, Tushar Yadava, Investment Strategist at BlackRock and Ben Lavine, CIO of 3D Asset Management Group. The group discusses the investing process, portfolio construction, and, of course, everybody’s favorite tickers. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Trillions

Cooking Up Returns with ETF Master Chefs

Exchange-traded funds have a special super power: tax efficiency. Investors pay taxes when they sell, but not when others in the fund sell. Yet that super power is suddenly in jeopardy. A recent bill proposed by Senate Finance Committee Chair Ron Wyden (D-Ore) would repeal a tiny section in the tax code that allows for ETF's in-kind creations and redemptions to be non-taxable events.  On this episode of Trillions, Eric and Joel invite Professor Jeffrey Colon of Fordham University, a tax expert who's critiqued ETFs before and influenced Wyden's bill, and Dave Nadig, director of research for ETF Trends, to discuss the proposal. Some chaos ensues.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Tax Idea That's Scaring ETF Investors

Uranium ETFs are the among the best performers the last two years. Prior to that, they’d been in a decade-long bear market after the Fukushima nuclear disaster of 2011. But between growing acceptance of nuclear power for a carbon-free future and spiking prices with a supply shortage, you have the makings of a breakout ETF category.  On this episode of Trillions, Eric and Joel speak with the two people behind $URNM: Tim Rotolo, founder and CEO of North Shore Indices, and Michael Alkin, CIO of Sachem Cove Partners. Joining the group is also John Ciampaglia, CEO of Canada-based Sprott Asset Management, which offers the only physically backed Uranium fund. They discuss the current surge in prices, how the market works and the long-term prospects of nuclear power.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Nukesanity: Inside the Melt-up In Uranium ETFs

Just as Steve Jobs didn't invent the computer, Jack Bogle didn't invent the index fund. The first index fund was actually launched back in 1971, about five years before Bogle and Vanguard brought it to the masses.  On this week's Trillions, we celebrate the 50th anniversary of the index fund with a conversation with John "Mac" McQuown, who worked with the head of Wells Fargo and a dozen academics (many of whom have Nobel prizes now) to develop the first, albeit short-lived index fund. We discuss the roots of the idea, the trials and tribulations of putting it into practice as well as his relationship with Bogle.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Meet the Unsung Hero of the $11 Trillion Index Revolution

The U.S. Securities and Exchange Commission has all but made clear it will probably approve Bitcoin exchange-traded funds that hold Bitcoin futures, versus ones that hold the cryptocurrency itself. This has sparked a wave of new filings which, if approved, could hit the market by November. But how do they work, and how will investors respond to them? On this week's Trillions, we get insight into this from two people who currently offer Bitcoin futures funds, Simeon Hyman of ProShares, who runs a Bitcoin futures mutual fund, and Steve Hawkins of Horizons, who runs a Bitcoin futures ETF in Canada. They discuss how the futures market works, how performance differs from Bitcoin, roll costs and what a wave of these hitting the market just might look like.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Future of Bitcoin Futures ETFs

ETFs have already broken their annual inflow record—and summer isn't even over yet. The pace of flows has jumped from $2 billion a day to more than $4 billion a day. Some 1,800 ETFs are taking in cash. So what's behind all the action? On this episode of Trillions, Eric and Joel speak with Invesco's John Hoffman, who heads the company's ETF and index business in the Americas. They discuss why the issuer is quietly having a great year, what's behind the flows, the rise of the DIY retail investor, and the strategic outlook in the ETF business. You'll also hear about Invesco's equal-weighted S&P 500 ETF ($RSP), a commodities future ETF ($PDBC), a low volatility fund ($SPLV), and more. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

What's Behind the ETF Feeding Frenzy of 2021?

Everything in the market is at or around all-time highs, yet the market feels fragile at the same time. Whether it's the delta variant or inflation, there's always something to worry about.  On this episode of Trillions, Eric and Joel speak with Bloomberg Intelligence's chief equity strategist (and Eric's boss!), Gina Martin Adams. They talk about her macro views, inflation, value vs growth, the Federal Reserve, the bond market, which ETFs investors should watch in the second half of the year, and more. They also discuss where Eric has room for improvement.   Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Peak Everything with Gina Martin Adams

In late May, Engine No. 1 shook Corporate America. Despite owning just .02% of Exxon Mobil — not long ago the world’s most valuable company — the little-known activist investor was able to install three new directors on the company’s board, an advance that could finally make the energy giant confront the challenges of climate change. Hot off that win, Engine No. 1 issued an ETF that allows all investors to join their cause. The new ETF, which is called the Engine No. 1 Transform 500 ETF ($VOTE), is a fresh take on the concept of ESG ETFs by seeking real systemic change.  On this episode of Trillions, Eric and Joel speak with Charlie Penner, who led the Exxon campaign and is in charge of Engine No. 1's active engagement practice, as well as Yasmin Dahya Bilger, head of ETFs at Engine No. 1. Rob Du Boff, ESG Analyst for Bloomberg Intelligence, and Saijel Kishan, ESG reporter for Bloomberg News, also join the conversation, which explores the company’s background, activism strategy, and the kinds of campaigns that investors should expect to see from them in the future. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

David vs Goliath: Inside Engine No. 1's Activist ETF

One of the more colorful aspects of the exchange-traded industry are the tickers. The best are stuff of legend; others are totally forgettable. But who's in charge of these three- and four-letter identifiers? How are they reserved? Do you own them or rent them? Can you sell them?  Joining Eric and Joel on this episode are a squad of experts assembled to nail down the facts once and for all: Mike Venuto of Toroso, Phil Bak of Signal Advisors, and Laura Morrison of CBOE. Also joining is Claire Ballentine, ETF reporter with Bloomberg News. Eric, Joel, and Claire also see if a few of their own ticker ideas are available. Can Joel's Loony Tunes-inspired pipe dream possibly come true? Listen to find out.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The ETF Ticker Premium

With meme stock mania in full bloom again, many are asking why there isn't an ETF to play it. While there is some debate over whether a meme ETF is possible at all, there is an ETF out there that gets pretty close and counts AMC and GameStop as its top two holdings. The ETF is the SoFi 50 ETF (SFYF) which tracks the top 50 stocks that are held by the retail traders who use SoFi's brokerage platform. And while its up big it hasn't seen the rush of flows we are accustomed to seeing when an ETF surges like this. On this episode of Trillions we speak with John Gardner, the Business Head of Invest at SoFi, and the brains behind SFYF and the other ETFs they offer. We speak to him about this 'lightening in a bottle' moment with SFYF as well as SoFi's other ETFs and how they fit into the company's bigger business plans. 

The Closest Thing to a Meme ETF

Victor Haghani is an ETF investor with one of the most storied resumes as one of the founding partners of the famous Long-Term Capital Management hedge fund, which employed Nobel-Prize winning economists and renowned Wall Street traders until its epic blowup in 1998. His path is rare but not totally unique as even many of the smartest active management minds on Wall Street have either morphed into indexers or use index funds or ETFs for their personal investments.  On this episode of Trillions, Eric and Joel speak with Haghani about his days on the trading desk at Salomon Brothers, the culture and mindset of Long-Term Capital Management, and his emerging low-cost ETF advisory business that he started for friends and family but has since expanded. 

From LTCM to ETFs: Victor Haghani's Long Road to Index Investing

While the Securities and Exchange Commission has yet to approve a crypto exchange-traded fund, similar products are proliferating abroad. These exchange-traded products offer a potential sneak peek of what may eventually come to pass in the U.S.  On this episode of Trillions, Eric and Joel — along with James Seyffart of Bloomberg Intelligence — speak with Ophelia Snyder, co-founder and head of product for Amun, which has ETP-ized a dozen different cryptocurrencies under the 21Shares brand name. They discuss what goes into the products, how they work, who uses them, and her outlook for the U.S. market. She also talks about her relationship with ARK founder Cathie Wood, who recently joined Amun's board.

A Glimpse Into the Crypto ETF Future

The stock market looks frothy, moves up and down tend to be steeper and quicker than the old days, and the bond market isn't the hedge it used to be. This is the situation that Simplify, an upstart new ETF issuer, is looking to solve with a lineup of ETFs enhanced with options -- to provide downside protection and also amplify the upside.  On this episode of Trillions, Eric and Joel -- along with James Seyffart of Bloomberg Intelligence -- speak with Simplify co-founder Paul Kim as well as his recent hire Michael Green, who brings hedge-fund experience to the team. The group discusses the macro opportunity, how Simplify's funds work, and how financial advisers might use these ETFs in a portfolio.

Re-Imagining ETFs with Simplify

In March, for the first time ever, a mutual fund went to sleep and woke up as an ETF. Two of them, in fact. And Guinness Atkinson, the issuer, couldn’t be happier about the experience — not that it didn’t take a lot of work to get across the finish line. Many more mutual funds will likely follow suit. On this episode of Trillions, Eric and Joel — along with Claire Ballentine, the Bloomberg News reporter who covered the story — go deep with Guinness Atkinson’s Jim Atkinson and his lawyer, Alexandra Alberstadt about their new ETFs, the SmartETFs Dividend Builder ($DIVS) and SmartETFs Asia Pacific Dividend Builder ($ADIV). They discuss why they converted, what the process entailed, and how other issuers should approach the topic. Did we mention there will be many more of these?

Behind the First Mutual Fund-to-ETF Conversion

Much like kids, ETFs can grow up so fast. And while you can expect the Vanguards and BlackRocks to keep hoovering up assets, there are many lesser-known products that have gained respectable followings. Sometimes it's quite shocking to see just how big they've gotten since the last time you checked on them.  On this episode of Trillions, Eric and Joel are joined by Todd Rosenbluth, Director of Mutual & Exchange Traded Fund Research at CFA, Claire Ballentine, reporter for Bloomberg News and Athanasios Psarofagis, analyst for Bloomberg Intelligence. They discuss and debate eight ETFs that got surprisingly large, including: $XSOE, $IQLT, $IVOL, $SOXL, $BUZZ, $UFO, $TMFC and $BUG. 

Whoa, That ETF Got Big

Money goes where it's treated best. That simple truth is a big reason why more and more money—trillions, in fact—flows into a powerful, low-cost tool that's quietly transformed investing in recent years. Exchange-traded funds, or ETFs, let you invest in everything from the stock market to gold like never before. This biweekly podcast will demystify them—and delight you in the process.

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