Contributor

Every ETF trade presents a choice for market makers: hold, hedge, or access the primary market. The decision comes down to costs, capital efficiency, and expectations for future investor demand.

From long-term investing to short selling and hedging, ETFs can serve purposes their issuers never anticipated.

Before building an ETF operation from scratch, asset managers should first ask how much of it they already have.

ETFs were built to make investing simpler. So what happens when the ETFs themselves stop being simple?

An executive wants to trade company stock for ETF shares. The tax code says that is not a sale. The SEC has another interpretation.

White-label ETFs make launching easier. Breaking up is where things get complicated.

The next evolution in futures could open a new playbook for ETF issuers.

There’s no single playbook for ETF success. And the smartest path may not be the obvious one.

In Part 2, now turn to the laggards - including outright disappointments and in-line performers that failed to keep pace with the broader REIT rally.