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351 Exchange Form 4
Form 4 Has 20 Transaction Codes. None Say "Section 351 ETF Swap"

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

Matt Bucklin
By Matthew Bucklin · 9/3/2026

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Who Really Owns a White-Label ETF?

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

pacer benchmark dispute
Nicholas Phillips
By Nicholas Phillips · September 1, 2026

What If a Futures-Based ETF Never Had to Roll Again?

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

Futures Roll
Nicholas Phillips
By Nicholas Phillips · August 27, 2026

How Do You Build a Winning ETF Business?

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

How Do You Build a Winning ETF Business?
Nicholas Phillips
By Nicholas Phillips · August 25, 2026

Losers Of Q2 2026 REIT Earnings Season

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.

Losers Of REIT Earnings Season
David-Auerbach-Headshot
By David Auerbach · August 21, 2026

Winners of Q2 2026 REIT Earnings Season

In Part 1 of our Earnings Recap, we highlight the Winners of REIT Earnings Season and the key takeaways from roughly 200 reports across equity REITs, mortgage REITs, and homebuilders over the past six weeks.

Winners & Losers of REIT Earnings Season
David-Auerbach-Headshot
By David Auerbach · August 21, 2026

The Next ETF Battleground Isn't Just Fees. It's Strategy

ETFs won the battle to make investing cheaper. The next battle is over who can use the wrapper to build better portfolios.

chess-piece-strategy-boardgame
Nicholas Phillips
By Nicholas Phillips · August 18, 2026

ETF Creation Windows Matter More Than You Think

Why the timing of ETF creation and redemption cutoffs can affect execution quality on large orders.

ETF Creation Windows Matter More Than You Think
Nicholas Phillips
By Nicholas Phillips · August 13, 2026

Why the Time of Day Matters When Trading an ETF

An ETF may trade from 9:30 a.m. to 4:00 p.m., but that doesn’t mean every minute of the trading day is created equal.

Why the Time of Day Matters When Trading an ETF
Nicholas Phillips
By Nicholas Phillips · August 12, 2026

The Leveraged ETF Question Nobody Is Asking

The real risk may not be leverage itself, but whether the underlying securities can absorb the hedging and rebalancing pressure during periods of stress.

Leveraged ETFs
Nicholas Phillips
By Nicholas Phillips · August 6, 2026
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