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Investment Philosophy

A Differentiated Approach to Direct Indexing

Introduction We are big fans of ETFs. But our research shows that investors may see even better after-tax outcomes through direct indexing separately managed accounts (SMAs). The financial industry has also recognized this potential, and the marketing hype has reached a fever pitch. So we yet again must take a skeptical approach as we do […]

April 23, 2024

Here’s An Investment Theme: Be Wary of Investment Themes

A thematic ETF’s investment thesis sounds compelling. It’s an obvious growth story. And its name is so darn clever. Which means only one thing. Hold onto your wallet. Thematic ETFs – Exchange Traded Funds, or baskets of stocks and companies focused on a narrow theme, trend, or concept – tap into our deep desire for […]

February 29, 2024