We take all the stocks excluded from the fundamental indexes; all the stocks that don't pay dividends; all the stocks shunned by the Intellidex indexes, rotated out of sector rotation ETFs and cast aside by the quant strategies.
An email press release in my inbox today proclaimed: "Small-Cap, Large-Cap and Broad Market Russell Indexes Reach All-Time High." Sound familiar?
That was a nice addition, Matt. The next step, if we're attempting to guage the relative strength of each ETF operation (or perhaps the relative value to fee conscious investors) would be to look at the expense ratios for all and multiply them by assets for baseline revenue.
Well, Jim, you clearly have more faith in the SEC than I do. Maybe it’s the 12b-1 fees … or the rules allowing soft dollar arrangements … or the lack of 401(k) fee disclosures … or the existence of 5% sales loads … or the mind-boggling prospectuses … or the, well, you know what I mean. …