Trillions

When you are an ETF issuer, you typically have some products doing well — and other ones doing less well. No better example of that than VanEck Vectors, an eclectic brand of ETFs that reflect the many phases of this year's wild ride. On this episode Trillions, Joel and Eric chat with the firm's CEO, Jan Van Eck, about the Fed's ETF plans, fallen-angel bonds, high-yield munis, video games, and the...

March started in one place (high) and ended in another (low). Amid the carnage, traders and investors leaned on ETFs, which saw record volumes. On this episode of Trillions, Eric and Joel speak with Bloomberg Intelligence ETF analyst Athanasios Psarofagis about who the winners and losers in the selloff were, who benefits most from the Fed's rescue plan and how the stage is set for smart-beta to ha...

Remember the good old days? An unloved, decade-long bull market that never seemed to end? When investments went only up? Well, the coronavirus crash of 2020 has turned those fun times into distant memories. At its worst point during the recent sell-off, more than $10 trillion of equity value was erased, wiping out three years of gains. So how have ETFs been faring amid all the carnage? Katherine G...

While much of the stock market has suffered over the past few weeks thanks to fear of the new coronavirus and its global economic fallout, there are a handful of stocks and exchange traded-funds that have managed to avoid damage, and even flourish. On this coronavirus-themed episode of Trillions, Bloomberg Intelligence Senior ETF Analyst Eric Balchunas and Bloomberg Businessweek Editor Joel Weber...

If exchange traded funds are ingredients and the portfolio is the meal, then ETF strategists are the master chefs. One of the best chefs out there is Gary Stringer, president of Stringer Asset Management, an active manager that uses ETFs instead of individual securities to try and generate outperformance. On this episode we go through Stringer’s ETF portfolio full of non-obvious picks, and ask him...

Are active non-transparent ETFs going to be a hit or flop? How can ESG succeed when everyone’s definition is different? What can little issuers do to succeed in an industry dominated by giants? But how can giant asset managers make money if investors want everything for free? These were some of the big questions debated at this year’s Inside ETFs, a conference and networking extravaganza featuring...

In his annual letter to CEOs earlier this month, BlackRock's Larry Fink pushed business leaders to prioritize climate change as a "defining factor in companies’ long-term prospects." For its part, BlackRock will double the number of sustainable ETFs it offers and pressure index providers to create more environmental, social and governance-related benchmarks. How much will these moves ultimately ma...

Americans are paying more and getting less for their health care than ever before. On the new season of Prognosis, reporter John Tozzi explores what went wrong.  See omnystudio.com/listener for privacy information.

ETFs have democratized investing -- everything under the sun is available with the click of a button, and for cheap. Yet this really only applies to the half of the country with the ways, means and desire to invest. What about the other half? How do we get more of them benefiting from the markets? Joel and Eric speak with financial consultant Tyrone Ross, who's passionate about getting the "unbank...

There’s rarely a dull moment covering ETFs. And this year, as well as the past decade, was no exception. The industry has solidified itself as the hottest destination for new cash, new firms and new ideas.  On this last episode of the year for Trillions, Joel and Eric talk to Rachel Evans of Bloomberg News and Todd Rosenbluth of CFRA in a round table format getting their expert takes and outlooks...

It was nothing short of a spectacular year for the U.S. stock market. Oh, and fixed income. And emerging markets. And gold. Basically everything went up — even if it didn’t necessarily feel that way. But why exactly? And what might next year hold for investors? How crucial is the Fed? The election? So many questions... On this episode of Trillions we talk all things markets with Michael Regan and...

Just as a maker of organic salad dressing wants to get into Whole Foods, every ETF issuer is trying to get its products distributed by the fund superstores. Known as wirehouses by the industry, these mega-platforms from the likes of Bank of America, Wells Fargo and Morgan Stanley service advisors with trillions in assets -- and can transform an ETF from zero to hero overnight. But only a minority...

ETFs compete with just about everything, including mutual funds, options, derivatives, and even single security investing. Another competitor is direct indexing, which means investing in a customized portfolio directly -- bypassing the fund's "wrapper" altogether.  On this week’s Trillions, Joel and Eric sit down with Brian Langstraat, the CEO of Parametric, the largest direct indexing provider. H...

Despite -99% returns, burning through billions, and the occasional controversy, exchange-traded products (ETPs) that track a volatility index called the VIX are flirting with record flows and volume this year thanks to a loyal audience of traders who love their jackpot potential. On this episode of Trillions, Greg King, who was behind some of the most popular products before founding Rex Shares, a...

Bloomberg's Travel Genius podcast is back! After clocking another hundred-thousand miles in the sky, hosts Nikki Ekstein and Mark Ellwood have a whole new series of flight hacking, restaurant sleuthing, and hotel booking tips to inspire your own getaways—along with a who's who roster of itinerant pros ready to spill their own travel secrets. From a special episode on Disney to a master class on pa...

Would you give up some stock market upside for some downside protection? That's the value proposition for a fast growing new category of annuity-like ETFs that do just that. They are the creation of ETF veteran Bruce Bond, who is known to many as the founder of PowerShares.  On this week's Trillions we speak with Bruce as well as Carolina Wilson from Bloomberg News about what sparked the idea for...

For years active mutual funds have been looking for a way to utilize the benefits of the ETF structure without having to show their holdings every day. They may have finally found a solution, but will it be enough? Joel and Eric are joined by Dan McCabe of Precidian Investments and Rachel Evans of Bloomberg News, who wrote about McCabe's non-transparent active ETF structure in the latest issue of...

One of the main drivers behind the rise of ETFs and index funds is the fast-changing world of wealth management. RIAs have always been the early adopters of ETFs and remain big users today.  On this episode of Trillions, we explore their world via a new conference by advisors for advisors called WealthStack. These are not your father's stock brokers but rather a younger, more casual, fiduciary-min...

Multi-factor ETFs are one of the fastest growing ETF categories. But what exactly do they do? Is the sum more than all the parts? Are they active or passive? These are the questions Bloomberg News' Annie Massa sought to answer at the recent Inside Smart-Beta conference. In this special field report for Trillions, Annie interviews analysts, advisors and issuers to get to the bottom of the multi-fac...

On this new season of Prognosis, we look at the spread of infections that are resistant to antimicrobial medicines. You're probably more likely to have heard of these as superbugs. Their rise has been described as a silent tsunami of catastrophic proportions. We travel to countries on the frontline of the crisis, and explore how hospitals and doctors around the world are fighting back. Prognosis’...

There's the Spy Kids and then there's the SPY Kids, aka the 11 millennials that unwittingly control the fate of the world's largest and most traded ETF. The $250 billion SPDR S&P 500 ETF Trust is pinned to their longevity, thanks to a quirk in the archane legal structure used by some early ETFs. Like other unit investment trusts, SPY has a set termination date and will expire in 2118, or 20 ye...

You know ETFs have gone mainstream when there are multiple TV shows about them, including Bloomberg’s own ETF IQ. Nearing its 100th episode, the show is co-hosted by veteran Bloomberg TV anchor Scarlet Fu and Eric. On this episode of Trillions, Scarlet and Eric take Joel behind-the-scenes of the fast-paced show, pick some of their favorite moments with noteworthy guests, and also deconstruct a few...

A number of high-profile companies have gone public this year -- Lyft, Uber, Beyond Meat, Slack, and Zoom, to name just a few. Yet these new entrants into the public markets aren't included in major indexes at their launch, limiting most investors' exposure to the companies' early trading. While investors can always buy individual stocks, a few ETFs specialize in a catch-and-release strategy of bu...

Cathie Wood, founder of ARK Invest, is a successful stock picker in the era of passive. Her actively managed ETFs, which focus entirely on disruptive themes, have overcome seemingly insurmountable odds to find success both in returns and flows. Her bold calls, high conviction and transparent approach has attracted fans and investors -- along with some haters.  On this episode of Trillions, Cathie...

As the second quarter comes to a close, Trillions reflects on some of the interesting trends and takeaways that have emerged so far this year -- and also explores a few things that may yet come to pass. Joel and Eric are joined by Todd Rosenbluth, ETF analyst for CFRA, and Sarah Ponczek, an ETF and markets reporter for Bloomberg News and co-host of the new What Goes Up podcast. Topics discussed by...