Trillions

With so many assets at or near all-time highs, a rational investor might wonder how long can the good times last? And is now the time to consider an insurance policy for the inevitable pullback? And also, what sort of downside protection should you use, if any? On this episode of Trillions , Eric Balchunas and Joel Weber speak with Bloomberg reporters Bernard Goyder and Suzanne Woolley about the s...

The “American dream” has always been about money: financial progression and building wealth. But for many the concept is slipping further and further away as the country’s yawning  wealth gap widens. So the question is: can you still climb the proverbial wealth ladder, or is the dream dead? And if there is still room to rise, how important is salary versus investments?...

Young people are looking for an easier way to accumulate wealth than working a 9-5 job for 40 years. This reluctance to follow the path of their elders has grown the appeal—and assets—of income-generating exchange-traded funds, which can generate anywhere between 2% and 200% yields, sometimes using complex derivatives. This universe of ETFs has exploded in popularity, with the assets b...

 A relentless barrage of headlines in recent weeks have all centered on exchange-traded funds. For the first time, there are now more ETFs than stocks (4,300 versus 4,200). Also of note, ETFs have also become prized listings for exchanges—perhaps even more than IPOs—because they trade so much. On this episode of  Trillions , Eric Balchunas and Joel Weber speak with Dave Nadig...

Here’s a mind-blowing stat: the iShares Ethereum Trust (ETHA) is the fastest exchange-traded fund in history to hit the $10 billion mark outside of the Bitcoin ETFs. After a slow start, its price has doubled over the past three months, sparking massive inflows just as it hit its first birthday. On this episode or  Trillions , Joel Weber and Eric Balchunas look at why Ether is rallying,...

The ETF "Thunderdome" is an unforgiving and relentless environment. Which makes the exchange-traded funds from JPMorgan Asset Management so noteworthy. Led by its Chief Executive Officer George Gatch, the firm has carved out a unique niche — active ETFs — and then used its institutional muscle to move up the leaderboard while driving down costs. In an era where 75% of all active funds...

Joel, Eric and Athanasios Psarofagis crack open the mailbag to answer some listener questions about ETFs. See omnystudio.com/listener for privacy information.

You just might be able to experience the financial future today. A recent trend in investing has exchange-traded fund issuers creating funds focused on futuristic themes like humanoid robots, alien technology and quantum computing. The hope is to attract investors looking for the next big idea. But needless to say, not all of them will pan out—remember Mark Zuckerberg’s metaverse? On t...

One of the hottest themes of 2025 is defense companies as potential US isolationism has other countries scrambling to beef up their military. And within that it is European stocks that have really led the charge. This theme went from rags to riches overnight practically but it's been largely a winner take all category. On this episode of Trillions Joel and Eric speak with Bloomberg Intelligence's...

The narrative all year was "sell America" yet the stock market is positive on the year and flirting with all time highs after coming back from a brutal Q1. Like COVID this is a rally few predicted although this time the market didn't have the Fed's help. What happened? Why was everyone was so wrong? On this episode of Trillions , Joel and Eric talk about the wide gap between narrative and price an...

In investing, there are many “rules.” And the rules are intended to help you, dear investor, make money. But if you’ve been around money — and especially if you’ve been around a lot of money … managing other people’s money, say — you know that people make a lot of mistakes, too. On this episode of Trillions , Eric Balchunas and Joel Weber speak with...

During her time as a commissioner at the US Securities and Exchange Commission, Hester Peirce has often been a dissenting voice—especially on all things crypto. Now, as she approaches the official end of her term, her legacy may include an SEC that’s more aligned with the positions she championed. On this episode of Trillions , Eric Balchunas and Joel Weber—along with stacy-marie...

It’s that time of the year. Exchange, the big exchange-traded fund conference, was held in Las Vegas this year and brought together many in the ETF industry to talk shop and network. This year's big theme was ETF share class and the selloff in stocks, but no stones were left unturned under the scorching Nevada sun. On this episode of Trillions , Eric Balchunas and Joel Weber go over Bal...

In the aftermath of President Donald Trump’s April 2 “Liberation Day,” stock markets around the world plunged. Yet just 13 hours after Trump’s tariffs took effect, the president paused them for 90 days — for countries not named China, that is. Markets soared in response to Trump’s backpedaling. The S&P 500 Index climbed almost 10% while the Nasdaq Composite...

This is not your grandfather’s exchange-traded fund industry. What started as boring, predictable and passive has morphed into strategies and packaged trades being packed into new ETFs. These include leverage, options overlays and private assets. Given all of this upheaval, some from the old school are worried investors aren’t receiving the exposure and protection from issuers they thi...

First Trust, the sixth-largest issuer of US exchange-traded funds, has managed to stay mostly under the radar in the investing world — and yet it's also perfected a lucrative, Vanguard-proof business model. The company's products are directed more at financial advisors than the retail world, and their funds, most of which are actively managed, have higher fees than typical index-tracking ETF...

European stocks are off to a strong start this year—one of their best ever in fact and easily beating the US market. But can it last? Will US tech stocks come roaring back again? And are there any reasons to invest in Europe besides stocks there just being “cheap?” On this episode of Trillions , Eric Balchunas and Joel Weber speak with Gina Martin Adams, Bloomberg Intelligence&rs...

There’s something special about the US stock market these days—it’s almost beyond comprehension how it keeps kicking out consistently big returns. Sure, other markets have nice runs now and again, but they’re usually short-lived and almost microscopic compared to the US. Why is that? And how long can this level of dominance last? On this episode of Trillions , Eric Balchuna...

Municipal bonds are the foundation of how American cities and states operate. And a big reason investors love “munis” is their tax-free status. But if you think that makes muni exchange-traded funds sound boring, think again. On this episode, Eric and Joel speak with Eric Kazatsky, head of municipal strategy at Bloomberg Intelligence and co-host of the podcast Masters of the Muniverse...

Will the first private credit exchange-traded fund launch in 2025? How many new crypto-related ETFs will come to market this year? And how will the battle of the S&P 500 funds shake out? Will BlackRock’s iShares Core S&P 500 ETF cut fees in an effort to stop Vanguard’s S&P 500 ETF from passing State Street’s SPDR S&P 500 ETF in assets?  On this episode o...

Gold or Bitcoin? The answer to that question—as always—depends on whom you ask. Yet the response will regularly be a passionate one. The exchange-traded fund has played an enormous role in making both assets more accessible, part of the reason 2024 was such a banner year. With the debut of spot Bitcoin ETFs and Donald Trump’s election (given his embrace cryptocurrency during the...

It's pretty safe to say that 2024 was the best year ever for ETFs. The industry saw record flows of $1 trillion, a record 670 new launches and a 30% jump in assets- not to mention that record smashing bitcoin ETF launch. So how do you top that? On this episode of Trillions Joel and Eric host a roundtable discussion on highlights from 2024 as well as predictions for 2025 with Todd Rosenbluth, head...

US large cap stocks have had an unbelievable run, and this year has been no exception. But how much longer can this Magnificent 7-driven winning streak really last? What kind of moves should investors consider making? And which products should they use? ETF strategists ponder questions just like this, and they're experts at figuring out how to meet the moment — or realize an idea — with the right...

“The House That Jack Bogle Built” is alive and well in sleepy Malvern, Pennsylvania. So far this year, the asset management firm that pioneered low-cost investing—so much so that “beta” is almost free now—has hoovered up another $256 billion of inflows into its US exchange-traded funds. But as the company nears its 50th anniversary, can it continue to succeed without changing its tried-and-true wa...

One of the year’s hottest investments? Bitcoin, which has surged on exchange-traded fund adoption as well as the return of the “Trump trade.” One way to go especially big on that bet is two new leveraged ETFs: MSTX and MSTU, which are 2X MicroStrategy—a company that’s already a highly exposed Bitcoin proxy. Both ETFs effectively give investors a 4X exposure to Bitcoin. If that sounds volatile, it...