The exchange traded funds conundrum

A recent Financial Times article (ETFs Under Scrutiny in Market Turbulence) serves as a reminder that structured products, including exchange traded funds (ETFs), often fail to live up to the rosy picture painted by the offering documents. Typically it's because there are landmines buried somewhere in the complexity of the structure. A good rule of thumb is that the more complex the product, the more landmines it's likely to have. This rule applies perfectly in the case of ETFs. If you listened to the marketing pitch it would be easy to think that ETFs are one homogenous asset class, with...

A recent Financial Times article (ETFs Under Scrutiny in Market Turbulence) serves as a reminder that structured products, including exchange traded funds (ETFs), often fail to live up to the rosy picture painted by the offering documents. Typically it's because there are landmines buried somewhere in the complexity of the structure.

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