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Speaker 1: Welcome to trillions.

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Speaker 2: I'm Joel Webber and I'm Eric Balchunis.

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Speaker 1: Awards season Eric at ETF dot Com. I didn't know

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Speaker 1: that this exists, but every year there are ETF industry awards.

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Speaker 2: Yeah.

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Speaker 3: ETF dot Com was once known as Index Universe. They're

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Speaker 3: kind of the ogs of being on top of the

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Speaker 3: ETF industry in my opinion, and ETF dot Com has

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Speaker 3: ETF Awards and yours truly is a judge.

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Speaker 2: I think I've been a judge for two or three years.

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Speaker 3: So it's kind of fun getting to vote that. The

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Speaker 3: nominees are all logical to me. Every now and then

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Speaker 3: one squeezes in that's like the indie feel good hit

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Speaker 3: of the year. Then there's some of the more standard ones.

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Speaker 3: It's really a lot like the Oscars, to be honest

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Speaker 3: with you, and usually there's a there's a surprise or two,

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Speaker 3: there's a Lifetime Achievement Award, Best New ETF, Best Ticker.

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Speaker 2: It's really fun.

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Speaker 3: You know, most people when they hear that, they're like,

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Speaker 3: come on, there's an ETF Awards show, and of course

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Speaker 3: there is, yeah, but this industry just it just feels

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Speaker 3: right for this industry for me, so I get it

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Speaker 3: and I think it's fun.

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Speaker 1: So we're gonna go through just a handful, a couple

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Speaker 1: of handfuls of the recipients, the award winners and joining

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Speaker 1: us from ETF dot com. We've got Kristin Myers who's

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Speaker 1: the editor in chief, and Lucy Rooster, the financi reporter

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Speaker 1: best time on Trillions. And the winner is Kristin Lucy

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Speaker 1: Welcome to Trillions.

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Speaker 4: Thanks so much for having us, Thank you for having us.

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Speaker 1: Okay, how many years has this been happening?

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Speaker 4: So the awards have been happening ten years running, but

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Speaker 4: this is about the second or third awards, I would say,

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Speaker 4: really since we kind of had this huge brand relaunch

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Speaker 4: of ETF dot com.

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Speaker 1: Okay, and there's there's a ton of categories, seventeen different categories.

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Speaker 1: We're going to go over ten or so. I think

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Speaker 1: how many finalists were there?

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Speaker 4: Nominee nominees, So we got about seventeen hundred nominees if

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Speaker 4: I remember it definitely was over fourteen hundred.

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Speaker 1: Is it just people nominating themselves?

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Speaker 4: Though you can nominate yourself, you can only nominate yourself once,

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Speaker 4: So we do actually strip out the multiple nominations that

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Speaker 4: do inevitably come up. And then we as the editorial team,

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Speaker 4: whittled that down to eighty five finalists essentially, and then

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Speaker 4: we kicked it over to Eric and six other judges

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Speaker 4: who took that eighty five and brought that list down

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Speaker 4: to seventeen.

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Speaker 1: I had to have been pretty desperate for Eric to

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Speaker 1: get invited back.

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Speaker 2: I just voted for my friends. Yeah, I really try

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Speaker 2: to be objective.

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Speaker 1: And Bloomberg, by the way, was nominated for a couple

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Speaker 1: of these categories. Well just one one. You abstained from

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Speaker 1: that category. Yeah, and we got shut out. So giving away.

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Speaker 3: Shutouts a little rough. I don't know how many of

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Speaker 3: the six Voueah, we didn't get that. We didn't get

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Speaker 3: that aword.

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Speaker 1: Okay, all right, that was the disclaimer. Okay, we're going

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Speaker 1: to start with best New Active ETF and we're going

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Speaker 1: to go kind of like reverse to end with ETF

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Speaker 1: of the Year. So best New Active ETF. I don't

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Speaker 1: is that like the best Supporting actress or something?

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Speaker 3: Maybe Eric, I'd say, so, Yeah, this is a this

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Speaker 3: is a This is a big one because active is

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Speaker 3: the big deal. The whole industry is just loving that

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Speaker 3: active is getting popular. To me, this is one of

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Speaker 3: the hotter categories, and who won.

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Speaker 5: That, Lucy, Yeah, absolutely, the Best New Active ETF went

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Speaker 5: to the AB Disruptors ETF ticker f w D And yeah,

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Speaker 5: as we all know, AI was a huge story of

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Speaker 5: the past year, so it made sense they won. But

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Speaker 5: it was a competitive category. I mean, Panagram was nominated there,

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Speaker 5: uh ETF ticker cls o Z the Fidelity Disruptive Technology

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Speaker 5: ETF fd t X. Yeah, but the winner was the

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Speaker 5: AB Disruptor.

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Speaker 1: And you all don't know how close this was.

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Speaker 4: We don't, and I should because people ask me this

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Speaker 4: question and have asked this question quite a lot. We

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Speaker 4: obviously know why we took the list down from more

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Speaker 4: than one thousand down to eighty five, but when it

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Speaker 4: comes to the final five noms in any of the categories,

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Speaker 4: because we have about five in every single category, we

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Speaker 4: actually don't know how the judges are actually voting. What

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Speaker 4: makes one ETF or one fund really kind of clinch

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Speaker 4: that top spot over another one. So Eric, I'm actually

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Speaker 4: curious to know when you're looking at a category like

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Speaker 4: best Active, Best New Active, what is something that kind

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Speaker 4: of stands out to you above the others.

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Speaker 3: I try to look for something that's either novel pushes

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Speaker 3: the envelope in something like this because active is sort

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Speaker 3: of a newer space, or if something punches a little

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Speaker 3: above its weight, maybe it's more organic the flows rather

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Speaker 3: than say just because they have a lot of distribution.

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Speaker 3: So I tend to not vote for like the comic

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Speaker 3: book movies. If you will, you know, I'm not going

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Speaker 3: to vote for the Marvels or whatever for Best Picture.

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Speaker 3: That's not my style. So I try to I do

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Speaker 3: try to reward innovation and sort of indie breakthrough, and

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Speaker 3: then every now and then something's just so powerful that

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Speaker 3: you have to just be like, yeah, I can't deny that,

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Speaker 3: even if it is the big guy.

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Speaker 1: What did you think of this class of nominee in

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Speaker 1: this one?

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Speaker 3: I can't remember who I voted for, but I will

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Speaker 3: say this ab disruptors and fidelity disruptives. I mean, Kathy

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Speaker 3: Wood has to be loving this because these are really

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Speaker 3: she really blazed that path, and she used to work

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Speaker 3: at Alion Spurnstein. In fact, they wouldn't launch an ETF

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Speaker 3: back when she was there, so she left to start

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Speaker 3: her own shop. They finally launched one, I guess better

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Speaker 3: late than ever, So I think she gets a win there,

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Speaker 3: and then to me, the most interesting one probably is

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Speaker 3: the clo clos are interesting. They have that bad reputation

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Speaker 3: from the financial crisis, but they have a lot of

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Speaker 3: really good attributes for a portfolio. They were one of

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Speaker 3: the best fixed income performers last year.

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Speaker 2: Lowvall.

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Speaker 3: I'm just not sure how much advisors understand them, but

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Speaker 3: that is a hot little area there, so I like

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Speaker 3: that some like that gets in there. I like that

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Speaker 3: it's not all of the big companies, which the other

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Speaker 3: companies are real big. Panagram is like total indie.

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Speaker 4: And Panagram actually pops up a couple of times, and

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Speaker 4: the in the final NOAMS list. Actually, when it came

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Speaker 4: to this year's awards, they did pretty well for an

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Speaker 4: indie shop. They've made a really strong showing this year.

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Speaker 2: Little Miss Sunshine hmm okay, well let's see if they

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Speaker 2: uh Napoleon Diner few somewhere else.

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Speaker 1: Best New US Equity ETF. Who is the winner in

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Speaker 1: this category? Lucy?

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Speaker 5: Yeah, So I announced this category and the Fidelity Disruptive

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Speaker 5: Technology ETF take our FDTX one and that was actually

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Speaker 5: converted from a mutual fund in twenty twenty three, so

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Speaker 5: it was technically a new ETF.

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Speaker 1: And that's kind of an interesting little asterisk there. I

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Speaker 1: guess like it technically is a new ETF. Yes, and

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Speaker 1: we've been talking about conversions forever.

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Speaker 2: Yeah, it's more like it was born on third base.

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Speaker 5: Yeah. Yeah, And you know it was interesting. I was

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Speaker 5: up there announcing it and and there were some booze

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Speaker 5: in the audience when we announced the winner of this ETF,

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Speaker 5: which was definitely interesting.

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Speaker 2: So a couple theories there. I know John Davey was there.

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Speaker 3: Maybe it was him because the story was on this

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Speaker 3: list John's New Yorker, you know, I could see him

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Speaker 3: sort of maybe getting there, and Rex and Roundhill DMO

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Speaker 3: was in that category two. But there's a story kind

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Speaker 3: of circulating that Fibility is charging a new like a

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Speaker 3: surcharge for ETF isshuers, sort of like a fee to

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Speaker 3: be on its platform, and it has kind of irritated

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Speaker 3: some of.

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Speaker 2: The smaller issuers.

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Speaker 3: So it's pretty possible that that was them expressing their displeasure.

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Speaker 3: But I will say drama, I think, yeah, reward show.

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Speaker 2: They need that.

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Speaker 3: You know, Ricky Gervais was so good for the Golden Globes.

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Speaker 3: He made stuff really kind of and then Will Smith

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Speaker 3: punch slapping Chris Rock. You need these moments, I think

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Speaker 3: at an award show. So I'm sure fatility didn't like it,

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Speaker 3: but I think it's good for you to that level.

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Speaker 3: But sure, yeah, drama.

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Speaker 4: This is the I don't know the only amount of

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Speaker 4: kind of drama you could expect from ETF, dot commo wars. Well,

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Speaker 4: like the Oscar.

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Speaker 3: You're going to there was you have to lower your

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Speaker 3: whole entire standards for the financial industry.

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Speaker 2: It is pretty juicy.

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Speaker 1: Yeah, okay, okay, next one, Best New smart Beta or

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Speaker 1: factor e t F Kristin who won this one?

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Speaker 4: Yeah, So the winner of this category was Avantis all

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Speaker 4: Equity Markets Value et F. That's ticker A v g V. Obviously,

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Speaker 4: we were chatting about this a little bit earlier, and

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Speaker 4: I mean, if we go back to just even that

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Speaker 4: last category, there has been this push now into those

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Speaker 4: active ETFs, right, and so this the best new smart

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Speaker 4: Beta is essentially all about that kind of push because

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Speaker 4: it's cheap way to get actively managed ETFs.

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Speaker 3: Yeah, and Evantis Joel is sort of run by a

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Speaker 3: guy who left DFA and it's kind of factory active obviously,

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Speaker 3: but this is to me, Evantis is the tip of

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Speaker 3: the spear of cheap Active. Active Now, like Avantis, most

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Speaker 3: of their active ETFs are below twenty basis points. So

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Speaker 3: if you're an advisor, you know they love cheap stuff, right,

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Speaker 3: They're willing to buy Active, but they want it sort

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Speaker 3: of priced to acknowledge that Beta is free. And so

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Speaker 3: as Active goes through this painful process of like Beta

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Speaker 3: adjusting their fees down lower, I think they're going to

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Speaker 3: sell more and Avantas shows this, Capitol Group shows this,

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Speaker 3: JP Morgan shows this. Avantis though, probably deserves even extra

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Speaker 3: credit because the type of flows are taking in are

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Speaker 3: enormous for a company that it doesn't have that brand

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Speaker 3: name of those other guys, So I think deserved here.

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Speaker 1: Was that like best animation maybe yeah, yeah, best the

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Speaker 1: animated film? Okay, this one, I feel.

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Speaker 2: Like like slightly above best editor.

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Speaker 1: I'm curious how you're going to react to this next

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Speaker 1: next one? Uh, Christian, let's stay with you. Best New

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Speaker 1: E S G E t F. Who won this?

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Speaker 4: All right? Best New E S G E t F.

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Speaker 4: That award winner went to the X trackers M S

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Speaker 4: C I U S A Climate Action Equity E t F.

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Speaker 4: That ticker is U S c a really interesting category

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Speaker 4: for this one. And Lucy, I know you have a

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Speaker 4: couple of thoughts. She was talking about E s G,

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Speaker 4: E t FS recently. Everyone loves to hate E s G. Well,

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Speaker 4: they love to hate ESG period, and they really love

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Speaker 4: to hate ESG.

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Speaker 2: Yeah, Eric kicked it off.

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Speaker 1: Yeah, he was critical people are growing.

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Speaker 5: Well, it's interesting because this one, you know, has accumulated

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Speaker 5: one point five billion in assets over a time period,

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Speaker 5: where over all the category has been seeing that outflows closures.

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Speaker 1: Eric, I hate.

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Speaker 3: Because this was long and I Shares launched one climate

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Speaker 3: action for this European institution who is currently in two

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Speaker 3: who had seated and I shares in a X trackers

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Speaker 3: one that was called ESG for whatever reason, and they're

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Speaker 3: both sensitive about this.

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Speaker 2: They didn't like ESG.

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Speaker 3: So these two firms came out with climate action and

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Speaker 3: the firm simply moved all their money out of the

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Speaker 3: ESG ones into the climate action one. So my interpretation

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Speaker 3: was that ESG, the term, is getting a lot of

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Speaker 3: baggage and people would rather be in something they didn't

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Speaker 3: have that in the name to avoid all the controversy.

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Speaker 3: And so in a way this should win because it

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Speaker 3: is indicative of what we call the rebranding of ESG.

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Speaker 4: Yeah, so this is what I love about the ETF

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Speaker 4: dot Com awards. Just I mean to kind of take

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Speaker 4: a broader look for a really quick second, because so

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Speaker 4: many of these awards, even though it was in the

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Speaker 4: year twenty twenty four, we were looking at the performance

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Speaker 4: and everything like that for the year twenty twenty three.

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Speaker 4: So these awards are in a way a look back,

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Speaker 4: but they're also a really nice way to also look forward. Right,

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Speaker 4: you kind of can see that trends and where the

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Speaker 4: market is going and how investors are thinking with these awards.

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Speaker 4: But to Eric's point about how ESG kind of is

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Speaker 4: almost like a scarlet letter for a lot of folks,

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Speaker 4: and so there's but they are. It is ESG, though,

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Speaker 4: I mean by its definition, if you think about what

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Speaker 4: ESG really stands for, I mean that is essentially what

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Speaker 4: it is.

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Speaker 5: Interesting if you look at these nominees, I mean barely

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Speaker 5: they don't even have ESG in the name of the funds,

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Speaker 5: And I think it goes to what you're saying is,

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Speaker 5: you know, I think a lot of firms are kind

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Speaker 5: of putting the ESG label out's pasture because they're aware

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Speaker 5: of the baggage that's coming along with it, but you know,

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Speaker 5: it's how much are the actual strategies going to transform

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Speaker 5: orre They kind of just dropping the label.

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Speaker 3: It is interesting that none of the nominees in the

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Speaker 3: SG had ESG in the name. Yeah, none of them

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Speaker 3: and yourself, I may put that in a note That

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Speaker 3: is really interesting and kind of proves our take, which

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Speaker 3: was we thought and ESG is going to live on.

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Speaker 3: I think it's going to be one two percent of assets.

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Speaker 3: They're going to try all these different kinds of names.

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Speaker 3: Smart Beta went through this when smart Beta was popular.

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Speaker 3: Everybody hated the name smart. They're like, it's not always smart,

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Speaker 3: and it was a whole thing, and then it kind

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Speaker 3: of found it's like niche, and people moved on to

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Speaker 3: the next hot thing. ESG, I think, is going into

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Speaker 3: that space of just okay, it exists, we don't need

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Speaker 3: to debate it much anymore. The one that didn't win

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Speaker 3: this is the carbon neutral power futures. That's kind of

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Speaker 3: an interesting one. It's like electricity futures droll, not exactly ESG,

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Speaker 3: more of a play on the.

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Speaker 2: Actual electricity market. Another I think I might have voted

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Speaker 2: for that one and vets as well, and vets another one.

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Speaker 1: Heat TOUCHSDOWNE Climate TRANSITIONINGTF. I'm gonna use that as a

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Speaker 1: way to transition us into the new ETF Ticker of

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Speaker 1: the year. Heat shows up not only in Best New ESG,

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Speaker 1: it also was nominated for Best ETF Ticker of the Year. Kristen,

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Speaker 1: did it win?

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Speaker 4: No? Oh, it did not win. That one went to

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Speaker 4: the theme cybersecurity ETF ticker spam spam. Oh, I know.

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Speaker 1: So good.

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Speaker 2: That is good.

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Speaker 3: We just had one of the nominees on the music

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Speaker 3: Guy Q a couple of weeks ago. Bucks is on there.

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Speaker 3: That's a bond ETF spam for cybersecurity. That that one, obviously,

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Speaker 3: And it's interesting, Joel, I've always told you my favorite

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Speaker 3: ticker is hack, which is a cybersecurity ETF cybersecurity made perfect.

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Speaker 3: It's custom made for cool tickers. I still like Hack

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Speaker 3: better than spam by a little, but spam's good.

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Speaker 1: I will say that my head, my head went to spam,

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Speaker 1: not the type in your inbox, but spam in the can.

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Speaker 4: I also, it's funny you say that. I also thought

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Speaker 4: of that, and I've never eaten spam, so I don't

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Speaker 4: know why. That's where my mind.

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Speaker 3: Does it repel you at all? Because spam isn't exactly

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Speaker 3: like something you want.

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Speaker 1: To eat, you know, the thing you want to click on.

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Speaker 4: I heard it's delicious though a lot of has a following.

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Speaker 4: So I have a question if you guys had to

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Speaker 4: make a ticker name, Oh what would the ticker?

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Speaker 1: We asked the questions on the show.

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Speaker 3: Well, I know yours easy? His ideas have everything in

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Speaker 3: one shot?

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Speaker 2: Call it easy? What does it hold everything?

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Speaker 1: Yeah? I like that, Yeah, it may I have its downsides.

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Speaker 3: Well, the problem is advisors don't want to do that.

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Speaker 3: They want to hold multiple things that looks like they're

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Speaker 3: doing something.

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Speaker 1: Yeah. Easy, But I just think it's too good to

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Speaker 1: just just make it easy for folks. I have kind

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Speaker 1: of a new addendum after like what seven years of

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Speaker 1: the the podcast, and this is very New York centric

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Speaker 1: where in the I think the phone book inspired a

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Speaker 1: certain type of business name, which was like a B

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Speaker 1: C and then like mechanic right, Like.

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Speaker 4: You know, it's really sad. This is going over Lucy's

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Speaker 4: head because she's so young.

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Speaker 2: She do you even know what a phone book is?

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Speaker 2: You ever handled one?

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Speaker 5: I'm aware of the concept, but I haven't.

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Speaker 1: I haven't personally why would you do?

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Speaker 5: Yeah wait, why would you that instead of just using

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Speaker 5: your iPhone? I don't understand the concept, but.

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Speaker 4: Aware of the concepts, I feel terrible.

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Speaker 1: So so the only thing better than ABC.

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Speaker 2: Have you ever been in a picture and gone through

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Speaker 2: a phone book?

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Speaker 1: What's a what's a phone phone?

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Speaker 2: You know, the payphones phone books.

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Speaker 4: Sitting there and they were chained. You know, it's crazy.

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Speaker 4: They were chained to New York, chained inside.

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Speaker 5: I mean those things people take pictures.

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Speaker 2: Now, I just feel you ever made a collect call

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Speaker 2: from a phone booth? That's a whole other level.

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Speaker 1: Of yeah, yeah, yeah, no comment, Uh, definitely definitely when

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Speaker 1: yeah okay, So anyways, uh yeah, that does that answer

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Speaker 1: your question?

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Speaker 2: Yeah?

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Speaker 1: It does kind of multiple different ways. Okay, So this

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Speaker 1: is little grum roll. I feel like this is we're

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Speaker 1: getting to the second half. We're going to do etf

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Speaker 1: Issuer of the Year, which I feel like this is

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Speaker 1: like a big one best Studio I guess something like that.

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Speaker 1: That's not even an award.

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Speaker 2: I'd put up maybe best screenplay or writer.

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Speaker 1: Okay, uh Lucy the winner is.

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Speaker 5: Yeah, so for eat issue or the winner was Dimensional

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Speaker 5: Fund Advisors, which you know, they're known for active management,

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Speaker 5: which is, like we mentioned earlier, really been a huge

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Speaker 5: theme of the past year, and you know they launched

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Speaker 5: in twenty twenty, so they've really picked up steam. They

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Speaker 5: have thirty eight funds and one hundred billion in assets,

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Speaker 5: so you know, it was a competitive category. We saw

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Speaker 5: on Vesco in there, van Neck, Franklin, Templeton, But yeah,

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Speaker 5: Dimensional one, Kristin, were you surprised a little bit?

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Speaker 4: So I actually really love this because it's a little

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Speaker 4: bit like the Cinderella Story. I don't know if I

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Speaker 4: would call dfa truly like you know, a sort of

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Speaker 4: and when I say Cinderella story, I mean kind of

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Speaker 4: like you know, March Madness type of Cinderella story. But

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Speaker 4: I mean, really think about it. Again, they've only been

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Speaker 4: working launching ETFs now for at the time three years, right,

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Speaker 4: because this was again for categories that happened for twenty

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Speaker 4: twenty three, and they're going up against Fidelity, They're going

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Speaker 4: up against Invesco, They're going up against Vanac. These are

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Speaker 4: obviously really huge institutions that have been doing this for

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Speaker 4: such a long time. I love that kind of again,

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Speaker 4: I don't know if I want to call them an underdog,

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Speaker 4: but a little bit of an underdog really when you

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Speaker 4: compare it to some of those bigger players.

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Speaker 2: This was the biggest group in the world. I agree,

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Speaker 2: a little underdogish.

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Speaker 3: If if ARC kind of said that active can succeed,

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Speaker 3: it's almost like DFA came and just like built a

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Speaker 3: whole highway because a DFA has shown again that if

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Speaker 3: you lower your fees enough, you can really sell almost anything.

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Speaker 3: Because remember smart Beta was around for a while, but

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Speaker 3: it wasn't until it got cheap that it started to

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Speaker 3: see success. Same with the SG In fact, Vanguard their

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00:18:32,080 --> 00:18:35,000
Speaker 3: index funds charged sixty basis points when they first started.

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Speaker 3: It wasn't until they crossed the twenty basis point line

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Speaker 3: in like the late nineties two thousands that they took off.

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Speaker 3: So the moral of the story is, whatever you have,

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Speaker 3: if you can get that fee under twenty BIPs, you're

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Speaker 3: going to start to move product. And DFA also has

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Speaker 3: a really big brand name for advisors, so and DFA

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Speaker 3: when they launched their ETFs, they almost unexclusivized because used

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Speaker 3: to have to be like a member of the DFA network.

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Speaker 3: But if the ETF anybody can buy it. So I

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Speaker 3: agree with this winner. It feels right to me. But

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Speaker 3: you're right, it's a tough category.

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Speaker 1: That implies that there was a winner that you didn't

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Speaker 1: agree with somewhere. Oh no comment, you.

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Speaker 2: Just got im. It's going to be trying to be nice.

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Speaker 1: Yeah, okay, all right, Lucy, sticking with you. The best

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Speaker 1: thematic ETF of the year.

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Speaker 5: The spraut Uranium Minors ETF ticker you are and and yeah,

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Speaker 5: I mean they're one of the only funds. Yeah, they're

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Speaker 5: one of the only funds offering exposure to uranium. And

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Speaker 5: you know, the performance was, you know, double the return

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Speaker 5: of the S and P five.

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Speaker 4: Uranium absolutely took off in twenty twenty three. I think

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Speaker 4: it was.

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Speaker 2: Oh did it?

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Speaker 1: It feels like it's been taking off multiple times.

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00:19:43,200 --> 00:19:44,720
Speaker 2: Yeah, you guys weren't there yet. Let me take you

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Speaker 2: back to rape before COVID.

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Speaker 3: This is January twenty twenty, right when I still thought

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Speaker 3: it wasn't going to be a big deal.

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00:19:49,960 --> 00:19:50,399
Speaker 2: Remember that.

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00:19:50,640 --> 00:19:54,680
Speaker 3: Anyway, I'm on stage at ETF dot com conference. You

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Speaker 3: guys weren't there yet, and the analysts have to present

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Speaker 3: their best new ETF idea.

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Speaker 2: I presented you R and M.

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00:20:00,840 --> 00:20:02,800
Speaker 3: It had just come off a huge bear market, and

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Speaker 3: I called it green investing for realists, because if you

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Speaker 3: want to get to net zero, you got to have

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Speaker 3: nuclear I was like, this is also obvious Bill Gates

417
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Speaker 3: to say in the same thing, I didn't win, But

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Speaker 3: since then, my my ticker, you R and M crushed everybody.

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Speaker 4: So this is your comebacks. Yeah, this is really you.

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Speaker 4: You should have been on taking the tak the for this.

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Speaker 2: I should have I should have been part of the

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Speaker 2: team that went up.

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Speaker 4: So does the microphone Does that mean you voted like

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Speaker 4: Kanye Taylor sweat, Yeah, yeah, I deserve this.

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Speaker 1: It feels like he's voting for this to keep his

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Speaker 1: finger on the scale about how smart I was like

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Speaker 1: years ago.

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Speaker 2: Well, I think it is a good story.

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Speaker 3: The other thing I like about this, we just did

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Speaker 3: a study of like, if you look at all the

431
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Speaker 3: ETFs that have closed a lot of times, their performance

432
00:20:50,320 --> 00:20:52,520
Speaker 3: gets better after they close than in their life. You

433
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Speaker 3: know why, because they launched the peak of these trends.

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Speaker 3: Your n M stuck out to me because it launched

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Speaker 3: after like a ten year bear market, and I was like,

436
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Speaker 3: I never saw that, and I'll like I kind of

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Speaker 3: trust it. So you launch when it's bad and you

438
00:21:02,920 --> 00:21:04,280
Speaker 3: just wait for the ball to get kicked to that

439
00:21:04,359 --> 00:21:05,800
Speaker 3: part of the soccer field and then boom, you got

440
00:21:05,800 --> 00:21:06,600
Speaker 3: this huge run up.

441
00:21:06,920 --> 00:21:09,560
Speaker 2: And R in M I think also was novel in

442
00:21:09,600 --> 00:21:10,200
Speaker 2: that department.

443
00:21:10,400 --> 00:21:12,639
Speaker 4: I mean their performance. I'm looking right now their one

444
00:21:12,680 --> 00:21:16,359
Speaker 4: year performance over seventy one percent. Yeah, seventy two percent.

445
00:21:16,800 --> 00:21:21,399
Speaker 1: Well, you've got a fixed amount of this and to

446
00:21:21,520 --> 00:21:25,400
Speaker 1: be AIQ is big because AIQ is doing real AI

447
00:21:25,520 --> 00:21:26,280
Speaker 1: and tech ETF.

448
00:21:26,560 --> 00:21:28,879
Speaker 2: That's the best selling AI ETF right now. That's the

449
00:21:28,880 --> 00:21:33,560
Speaker 2: hottest topic. So R and M had tough competition in here.

450
00:21:34,400 --> 00:21:39,720
Speaker 1: Okay, best new US Fixed income ETF, Christian, you want

451
00:21:39,720 --> 00:21:40,280
Speaker 1: to take that one?

452
00:21:41,000 --> 00:21:43,159
Speaker 4: All right, let's go down this list. Okay, so best

453
00:21:43,160 --> 00:21:45,920
Speaker 4: new US fixed income ETF that went to the Vanguard

454
00:21:46,000 --> 00:21:50,800
Speaker 4: Short Term Tax Exempt ETF VTEs is the ticker. This

455
00:21:50,960 --> 00:21:54,399
Speaker 4: is a tough category. I think fixed income anything right now.

456
00:21:54,440 --> 00:21:55,600
Speaker 1: Kind of the year of fixed income.

457
00:21:55,840 --> 00:21:59,440
Speaker 4: Oh man, it's investors in fixed income have really been

458
00:21:59,440 --> 00:22:03,159
Speaker 4: getting battered prost lately. I think it's.

459
00:22:03,000 --> 00:22:07,120
Speaker 3: Also fixing fixed income is editing a ton.

460
00:22:06,960 --> 00:22:10,199
Speaker 1: Of interest in this category. Yeah, so why this one?

461
00:22:10,440 --> 00:22:14,560
Speaker 3: The competition wasn't that fierce. All these companies are interesting

462
00:22:14,600 --> 00:22:18,280
Speaker 3: calamos bond blocks, but the ETFs picked I could see

463
00:22:18,280 --> 00:22:22,120
Speaker 3: why Vanguard won. Plus, you know, Vanguard's like Daniel da Lewis.

464
00:22:22,280 --> 00:22:24,399
Speaker 3: If he's nominated for like seven caps, he's got to

465
00:22:24,440 --> 00:22:27,000
Speaker 3: win something. He's just too good, right, Vanguard always takes

466
00:22:27,000 --> 00:22:29,119
Speaker 3: in the most flows. They should win something or it's

467
00:22:29,160 --> 00:22:31,320
Speaker 3: a little weird, right, So I think you have to

468
00:22:31,320 --> 00:22:35,720
Speaker 3: give Vanguard some award somewhere. And this thing I haven't looked,

469
00:22:35,760 --> 00:22:38,439
Speaker 3: but whenever they launch an ETF, they only launched like

470
00:22:38,440 --> 00:22:41,480
Speaker 3: one a year. Maybe it's gonna be like billions of dollars.

471
00:22:42,800 --> 00:22:45,760
Speaker 2: So makes sense. Vanguard got a little bone here.

472
00:22:45,840 --> 00:22:49,320
Speaker 1: Okay, So I think we're gonna have a pause right

473
00:22:49,359 --> 00:22:51,640
Speaker 1: before we do the big the big part.

474
00:22:52,320 --> 00:22:54,560
Speaker 2: Was there musical entertainment at the show, like you know

475
00:22:54,560 --> 00:22:56,000
Speaker 2: how they do with the oscars.

476
00:22:55,880 --> 00:23:00,600
Speaker 4: I mean, other than me singing yeah, I did not say,

477
00:23:00,760 --> 00:23:01,600
Speaker 4: I did not say.

478
00:23:01,560 --> 00:23:04,720
Speaker 5: And impromptu performance by Kristen I did.

479
00:23:04,760 --> 00:23:07,680
Speaker 4: Actually, you know, it's really interesting. I did actually have

480
00:23:07,880 --> 00:23:11,879
Speaker 4: a bunch of issuers give me one line best freestyle rap.

481
00:23:13,200 --> 00:23:16,320
Speaker 4: I know you're so you seem surprised. Yeah, and I

482
00:23:16,359 --> 00:23:17,879
Speaker 4: got some really good ones.

483
00:23:18,160 --> 00:23:21,840
Speaker 2: Really yeah, So wait they sent you a line of rap.

484
00:23:22,040 --> 00:23:24,840
Speaker 4: No, I literally just doorstep they were on the spot.

485
00:23:25,320 --> 00:23:27,400
Speaker 4: On the spot, I said, I want you to freestyle

486
00:23:27,480 --> 00:23:31,440
Speaker 4: your best one line rap about finance or investing or

487
00:23:31,480 --> 00:23:33,760
Speaker 4: about your ETF. And I have to tell you, well,

488
00:23:34,640 --> 00:23:37,160
Speaker 4: I will tell you the best raps that we got

489
00:23:38,080 --> 00:23:41,480
Speaker 4: came from an issuer that actually performed very well in

490
00:23:41,520 --> 00:23:44,600
Speaker 4: this awards. I don't want to give away. I'll circle

491
00:23:44,640 --> 00:23:45,280
Speaker 4: back to it later.

492
00:23:45,320 --> 00:23:46,800
Speaker 2: But this is on stage or off stage.

493
00:23:46,840 --> 00:23:47,359
Speaker 4: Off stage?

494
00:23:47,400 --> 00:23:50,600
Speaker 3: Okay, Well, that kind of stuff I think can help

495
00:23:50,680 --> 00:23:54,520
Speaker 3: because there's certain times that's not appropriate. But if this

496
00:23:54,640 --> 00:23:56,440
Speaker 3: seems to be like something where it's appropriate, you know,

497
00:23:56,520 --> 00:23:58,400
Speaker 3: the Financial Follies, that's that thing.

498
00:23:58,920 --> 00:24:00,600
Speaker 4: Nerd the nerd prompt financial.

499
00:24:00,960 --> 00:24:02,760
Speaker 2: You could be like the new Financial Follies. You know.

500
00:24:02,800 --> 00:24:05,280
Speaker 3: What you should consider doing is having some kind of

501
00:24:05,280 --> 00:24:08,720
Speaker 3: a theatrical skit or even there's a lot of like

502
00:24:08,720 --> 00:24:11,080
Speaker 3: Blackrock has a band, you could have the black Rock

503
00:24:11,160 --> 00:24:12,800
Speaker 3: band play listen.

504
00:24:12,840 --> 00:24:13,119
Speaker 5: I don't know.

505
00:24:13,320 --> 00:24:14,120
Speaker 2: The idea is we.

506
00:24:14,119 --> 00:24:16,200
Speaker 4: Are we are way ahead of you, so I want

507
00:24:16,240 --> 00:24:17,840
Speaker 4: to I just want to let you know that next

508
00:24:17,920 --> 00:24:20,679
Speaker 4: year in twenty twenty five, like you heard it here. First,

509
00:24:21,080 --> 00:24:23,680
Speaker 4: the ETF dot Com Awards are going to be crazy.

510
00:24:23,880 --> 00:24:25,520
Speaker 5: Do you think they were crazy this year?

511
00:24:26,119 --> 00:24:29,440
Speaker 4: Just wait, just wait, just wait till next.

512
00:24:29,240 --> 00:24:31,640
Speaker 5: Year's wait another three hundred days or.

513
00:24:31,680 --> 00:24:33,240
Speaker 2: Together in their seats.

514
00:24:33,920 --> 00:24:35,240
Speaker 4: Yeah, just mark your calendars.

515
00:24:35,280 --> 00:24:37,560
Speaker 2: Now you got some strategic moves like that game.

516
00:24:37,640 --> 00:24:38,520
Speaker 1: Bringing it back to.

517
00:24:38,480 --> 00:24:41,320
Speaker 5: The we didn't think there was enough open conflict at

518
00:24:41,320 --> 00:24:44,040
Speaker 5: this one, so we're we're going to really try to

519
00:24:44,040 --> 00:24:44,960
Speaker 5: play that out next year.

520
00:24:45,040 --> 00:24:52,560
Speaker 2: Good okay.

521
00:24:52,600 --> 00:24:55,920
Speaker 1: Bringing back to the twenty twenty four awards. Last three things.

522
00:24:55,920 --> 00:24:59,640
Speaker 1: We're going to start with Lifetime Achievement Ward. Oh lucy

523
00:24:59,680 --> 00:25:00,119
Speaker 1: who went that?

524
00:25:01,119 --> 00:25:06,280
Speaker 5: Jan Vanak won? And yeah, I mean he wasn't.

525
00:25:06,040 --> 00:25:08,000
Speaker 1: Bad for the other people who are nominated.

526
00:25:08,119 --> 00:25:11,360
Speaker 5: I mean everyone who was nominated, I mean was this?

527
00:25:11,440 --> 00:25:14,920
Speaker 5: Is it just mean that next years scratched?

528
00:25:15,680 --> 00:25:18,600
Speaker 1: You just keep keep yourself, But.

529
00:25:18,560 --> 00:25:20,520
Speaker 4: Think about it. This is one of those categories where

530
00:25:20,760 --> 00:25:23,119
Speaker 4: you know, everyone says that it's just an honor just

531
00:25:23,119 --> 00:25:25,200
Speaker 4: to be nominated, and they don't really mean it because

532
00:25:25,200 --> 00:25:27,440
Speaker 4: they really just want to win. But I actually think

533
00:25:27,480 --> 00:25:30,600
Speaker 4: when it comes to the Lifetime Achievement Award category, it

534
00:25:30,680 --> 00:25:34,119
Speaker 4: really is an honor to be nominated for for your

535
00:25:34,160 --> 00:25:37,400
Speaker 4: colleagues and your peers to say you have done such

536
00:25:37,440 --> 00:25:41,080
Speaker 4: an incredible job and so much work in this space.

537
00:25:41,240 --> 00:25:45,119
Speaker 1: It feels like the one award where maybe don't reveal

538
00:25:45,160 --> 00:25:47,480
Speaker 1: who the nominees are, just acknowledge you the.

539
00:25:47,400 --> 00:25:51,399
Speaker 4: Winner is No I have to I think you're happy

540
00:25:51,400 --> 00:25:52,119
Speaker 4: to be nominated.

541
00:25:52,160 --> 00:25:52,719
Speaker 5: Well, I don't know.

542
00:25:53,760 --> 00:25:56,800
Speaker 3: Do you know that I was nominated for this twice?

543
00:25:57,760 --> 00:25:58,520
Speaker 2: How did you feel?

544
00:26:00,359 --> 00:26:01,879
Speaker 1: I did not know that. I was not trying to

545
00:26:01,920 --> 00:26:03,440
Speaker 1: like make you know, make you feel better.

546
00:26:03,680 --> 00:26:05,439
Speaker 3: Yeah, so I can give you first person account of

547
00:26:05,440 --> 00:26:08,440
Speaker 3: how it feels. I was honestly just honored to be there.

548
00:26:09,560 --> 00:26:12,160
Speaker 3: I felt too young. I was like, I'm not done yet.

549
00:26:12,680 --> 00:26:15,159
Speaker 3: That said, I was like, that's kind of cool because

550
00:26:15,720 --> 00:26:18,840
Speaker 3: for my age, I'm like, I'll take it. But the

551
00:26:18,880 --> 00:26:20,639
Speaker 3: two people, I think Reggie Brown won instead of me

552
00:26:20,680 --> 00:26:22,640
Speaker 3: one year and Matt Hogan won the other year.

553
00:26:23,280 --> 00:26:26,120
Speaker 2: It was when their name was called I felt a little.

554
00:26:25,840 --> 00:26:29,040
Speaker 3: Rejected, but just for a second, it wasn't bad. But

555
00:26:29,240 --> 00:26:33,640
Speaker 3: here we've got Andrew Schlossberg, President of Invesco, Bob Pizzani,

556
00:26:33,680 --> 00:26:37,280
Speaker 3: who does the CNBC ETF show, Hunter Horseley bit Y CEO,

557
00:26:37,880 --> 00:26:40,840
Speaker 3: Joanna Gallegos from Bond Blocks, who has had a great career.

558
00:26:40,920 --> 00:26:43,879
Speaker 3: She's been really around for a while. Rory Tobin of

559
00:26:44,160 --> 00:26:48,439
Speaker 3: Global head of Spider, So, Jan Vanek is such a

560
00:26:48,440 --> 00:26:51,320
Speaker 3: great guy. You know, it's a tough category, but somebody

561
00:26:51,359 --> 00:26:53,919
Speaker 3: has to win. And how is his speech?

562
00:26:54,520 --> 00:26:56,080
Speaker 4: So it was actually really good. He gave us his

563
00:26:56,119 --> 00:27:00,280
Speaker 4: speech virtually and one it was kind of just you know,

564
00:27:00,560 --> 00:27:03,960
Speaker 4: obviously thanking the entire crowd for for nominating him and

565
00:27:04,000 --> 00:27:06,720
Speaker 4: for his win, but also in a in a kind

566
00:27:06,760 --> 00:27:10,040
Speaker 4: of a way, a call to action for investors and

567
00:27:10,080 --> 00:27:12,159
Speaker 4: for also you know, the issuers in the space to

568
00:27:12,240 --> 00:27:15,040
Speaker 4: really again to continue to innovate, to continue to provide

569
00:27:15,119 --> 00:27:18,800
Speaker 4: really you know, value for their clients and for investors.

570
00:27:18,800 --> 00:27:21,120
Speaker 4: But then he also mentioned a sort of like call

571
00:27:21,200 --> 00:27:23,680
Speaker 4: to philanthropy as well, that everyone in the room should

572
00:27:23,720 --> 00:27:27,280
Speaker 4: really be thinking about the world around them, the investors

573
00:27:27,280 --> 00:27:30,119
Speaker 4: that they're really working for, and trying to essentially deliver

574
00:27:30,200 --> 00:27:30,800
Speaker 4: the most for them.

575
00:27:32,359 --> 00:27:35,920
Speaker 1: Okay, last two, we're going to do best drum roll.

576
00:27:36,200 --> 00:27:38,080
Speaker 2: Ye wants to make the drum roll.

577
00:27:38,160 --> 00:27:43,040
Speaker 1: Best New Think, best New etf Lucy, do you want

578
00:27:43,040 --> 00:27:43,600
Speaker 1: to do? The owners?

579
00:27:45,200 --> 00:27:46,280
Speaker 5: And the winner it's a.

580
00:27:46,280 --> 00:27:48,840
Speaker 1: Little slow, was you need? Yeah, there you go?

581
00:27:49,240 --> 00:27:52,800
Speaker 5: And the winner was the Round Hill Magnificent seven ETF

582
00:27:52,920 --> 00:27:53,639
Speaker 5: ticker m.

583
00:27:53,760 --> 00:27:56,200
Speaker 2: A gs what shocker.

584
00:27:56,480 --> 00:27:57,800
Speaker 4: Yeah, I know, kind of a no brainer.

585
00:27:57,880 --> 00:27:59,840
Speaker 2: Yeah, I mean that makes it brainer. I think that's

586
00:27:59,840 --> 00:28:01,800
Speaker 2: a shocker, really round.

587
00:28:01,680 --> 00:28:04,720
Speaker 4: Hill, Yeah, I mean, I mean they're I mean they're

588
00:28:04,720 --> 00:28:08,680
Speaker 4: the first, the first, yeah, best, Yeah, the first you

589
00:28:08,760 --> 00:28:10,720
Speaker 4: get to track the mag seven stocks.

590
00:28:10,800 --> 00:28:15,200
Speaker 5: Yeah, they kind of coin they kinda off the Magnificent seven.

591
00:28:15,600 --> 00:28:19,040
Speaker 3: Here's why the cues and some of these big ETFs

592
00:28:19,040 --> 00:28:23,320
Speaker 3: they're kind of Magnificent seven. Anyway, Like this basically took

593
00:28:24,320 --> 00:28:27,160
Speaker 3: something that you're already loaded up on and said, let's

594
00:28:27,240 --> 00:28:30,919
Speaker 3: just do that. And it's to me, it's proof you

595
00:28:30,960 --> 00:28:34,000
Speaker 3: can really try anything, because it's not that it's just

596
00:28:34,040 --> 00:28:35,840
Speaker 3: a slight step away from the cues, which I think

597
00:28:35,840 --> 00:28:37,800
Speaker 3: are like forty percent Magnificent seven stocks.

598
00:28:38,800 --> 00:28:40,120
Speaker 2: I mean, anyway, God bless.

599
00:28:40,000 --> 00:28:42,760
Speaker 4: But Fang was yesterday and Magsie true today.

600
00:28:42,760 --> 00:28:46,000
Speaker 3: It's a sign of the times for sure. They also

601
00:28:46,040 --> 00:28:48,160
Speaker 3: did chat, which is a ai E t F. They

602
00:28:48,160 --> 00:28:49,040
Speaker 3: were nominated for two.

603
00:28:49,360 --> 00:28:50,040
Speaker 2: That's interesting.

604
00:28:50,160 --> 00:28:52,240
Speaker 3: Has it ever happened to the Oscars where someone's nominated

605
00:28:52,240 --> 00:28:53,160
Speaker 3: for two at the same time.

606
00:28:54,200 --> 00:28:56,560
Speaker 1: I'm gonna go with yeah, but I don't know.

607
00:28:56,720 --> 00:28:59,720
Speaker 2: Yeah, will say pretty bad ass.

608
00:28:59,800 --> 00:29:03,200
Speaker 4: That's something that a couple of nominees appear more than once.

609
00:29:03,280 --> 00:29:06,040
Speaker 4: You can appear in more than one category, and you

610
00:29:06,120 --> 00:29:08,560
Speaker 4: are allowed to have as an issue more than one

611
00:29:08,680 --> 00:29:10,400
Speaker 4: ETF in in everycent category.

612
00:29:10,440 --> 00:29:12,160
Speaker 3: One of the nominees, Joel, we had a whole episode

613
00:29:12,160 --> 00:29:15,120
Speaker 3: on T Jewel T Jewel, which is the Innovator Equity

614
00:29:15,120 --> 00:29:17,840
Speaker 3: Define Protection ETF. That's the one that says, we promise

615
00:29:17,880 --> 00:29:20,480
Speaker 3: you'll never lose money and you'll get sixteen percent every

616
00:29:20,480 --> 00:29:23,080
Speaker 3: two years. Remember, Yeah, And it was like that caused

617
00:29:23,080 --> 00:29:24,520
Speaker 3: all kinds of controversy on Twitter.

618
00:29:24,640 --> 00:29:27,280
Speaker 1: Sounds sounds like too good to be trusto. When you

619
00:29:27,320 --> 00:29:29,000
Speaker 1: hear it like that, it does you're to date.

620
00:29:29,000 --> 00:29:31,040
Speaker 4: They're only they're up less than one and a half percent.

621
00:29:31,160 --> 00:29:36,240
Speaker 1: Yeah, so they have it. Okay. Now the big reveal

622
00:29:36,960 --> 00:29:41,800
Speaker 1: ETF of the year, Kristen, did you know what advance?

623
00:29:42,480 --> 00:29:44,640
Speaker 4: I knew some of them, okay, I knew some of them, Okay.

624
00:29:44,680 --> 00:29:48,480
Speaker 4: And the winner is that was pacer US small cap

625
00:29:48,520 --> 00:29:51,840
Speaker 4: cash Cows one hundred ETF ticker c a LF. They

626
00:29:51,880 --> 00:29:54,200
Speaker 4: really should have nominated themselves, I think in the best

627
00:29:54,240 --> 00:29:58,320
Speaker 4: ticker name. But yeah, CALF. So I should also mention

628
00:29:58,560 --> 00:30:04,160
Speaker 4: pacer the Pacer folks also have the best freestyle wraps

629
00:30:04,320 --> 00:30:08,040
Speaker 4: about about not only their their ETF, but also about

630
00:30:08,080 --> 00:30:10,360
Speaker 4: their about their company.

631
00:30:10,880 --> 00:30:11,520
Speaker 1: Eric, this.

632
00:30:13,560 --> 00:30:14,760
Speaker 2: Is a worthy winner.

633
00:30:15,000 --> 00:30:15,960
Speaker 4: I agree with you.

634
00:30:16,480 --> 00:30:18,520
Speaker 2: Let me give you some facts on CALF. I think

635
00:30:18,560 --> 00:30:19,680
Speaker 2: I voted for it. I can't remember.

636
00:30:19,760 --> 00:30:22,440
Speaker 1: But Calf, first of all, it's not a fact. I

637
00:30:22,560 --> 00:30:26,120
Speaker 1: don't think in fact that shared like sharing something worthwhile.

638
00:30:28,360 --> 00:30:30,720
Speaker 2: Let me start again or keep it, I don't care.

639
00:30:31,400 --> 00:30:33,080
Speaker 2: We're being human here, you know.

640
00:30:33,520 --> 00:30:33,880
Speaker 1: Okay?

641
00:30:35,000 --> 00:30:39,560
Speaker 2: Is this human enough? Okay? Okay?

642
00:30:40,400 --> 00:30:43,560
Speaker 3: Calf is like the little brother of cows. Cows is

643
00:30:43,600 --> 00:30:45,560
Speaker 3: this cash flow ETF? To me, this is the arc

644
00:30:46,120 --> 00:30:49,640
Speaker 3: of the fed raising rates cycle. So when fed raised rates,

645
00:30:49,720 --> 00:30:53,280
Speaker 3: arc kind of went in the gutter and cows became

646
00:30:53,320 --> 00:30:56,080
Speaker 3: the new darling indie kind of issuer that came out

647
00:30:56,080 --> 00:30:58,480
Speaker 3: of nowhere, took in money hand over fist. So they're like,

648
00:30:58,520 --> 00:31:00,920
Speaker 3: oh my god, we've got cows. Let's do this for

649
00:31:01,120 --> 00:31:04,680
Speaker 3: small caps. We'll launch Calf, and Calf just took off.

650
00:31:05,280 --> 00:31:07,640
Speaker 3: Calf is taken in money like I think it took

651
00:31:07,680 --> 00:31:09,680
Speaker 3: in money for one hundred days straight. Once, It's taken

652
00:31:09,720 --> 00:31:12,760
Speaker 3: in money for forty months straight. And it's all organic

653
00:31:13,240 --> 00:31:15,800
Speaker 3: and all it does is look for free cash flow

654
00:31:15,840 --> 00:31:18,480
Speaker 3: of companies, which is a metric that everyone's gone gaga

655
00:31:18,640 --> 00:31:22,200
Speaker 3: small small caps. The big one does large caps. But

656
00:31:22,320 --> 00:31:26,000
Speaker 3: listen to this stat calf is small caps only but

657
00:31:26,120 --> 00:31:30,320
Speaker 3: outperformed the S and P. Well, that's crazy because it's.

658
00:31:30,680 --> 00:31:31,200
Speaker 2: It's with this.

659
00:31:31,360 --> 00:31:34,600
Speaker 3: It's good within small caps. Small caps everybody knows has

660
00:31:34,600 --> 00:31:36,200
Speaker 3: trailed the S and P by a lot, but it

661
00:31:36,240 --> 00:31:39,400
Speaker 3: picked the right ones that it actually beat the S

662
00:31:39,440 --> 00:31:39,640
Speaker 3: and P.

663
00:31:40,360 --> 00:31:40,960
Speaker 2: This is all.

664
00:31:41,000 --> 00:31:43,880
Speaker 3: This is really hard to do for an issue that

665
00:31:43,920 --> 00:31:45,440
Speaker 3: isn't like a gargantuan size.

666
00:31:45,480 --> 00:31:48,280
Speaker 4: So that's why I love this winner. I will one

667
00:31:48,320 --> 00:31:50,400
Speaker 4: because I just love the small cap story in general.

668
00:31:50,480 --> 00:31:51,320
Speaker 1: And they drop beats.

669
00:31:51,760 --> 00:31:55,560
Speaker 4: Yeah, and they drop mad sick beats, but I love

670
00:31:55,600 --> 00:31:57,520
Speaker 4: the small cap story in general. I mean, I think

671
00:31:57,640 --> 00:32:00,960
Speaker 4: in twenty twenty three, with the market performance obviously kind

672
00:32:00,960 --> 00:32:03,320
Speaker 4: of like really like that bowl kind of getting out

673
00:32:03,360 --> 00:32:05,080
Speaker 4: of the pen and starting to run, I think people

674
00:32:05,080 --> 00:32:08,640
Speaker 4: really ignore it. I know, I know we're gonna I'm

675
00:32:08,640 --> 00:32:11,920
Speaker 4: going to give you all cattle based references now for this,

676
00:32:12,320 --> 00:32:15,720
Speaker 4: but honestly, I think people were kind of ignoring small caps.

677
00:32:15,720 --> 00:32:18,680
Speaker 4: But I mean, what kind of is a drop in

678
00:32:18,720 --> 00:32:20,800
Speaker 4: the ocean becomes a wave for small caps, and I

679
00:32:20,840 --> 00:32:23,520
Speaker 4: just really think that CALF kind of rode that wave.

680
00:32:23,680 --> 00:32:25,760
Speaker 4: And I think small caps are also something that in

681
00:32:25,800 --> 00:32:28,040
Speaker 4: twenty twenty four a lot of investors are going to

682
00:32:28,080 --> 00:32:31,600
Speaker 4: really be looking into. And so what excites me about

683
00:32:32,120 --> 00:32:34,280
Speaker 4: CALF and just in general with a lot of the

684
00:32:34,280 --> 00:32:36,720
Speaker 4: winners that we're seeing, I'm curious to know which of

685
00:32:36,760 --> 00:32:39,120
Speaker 4: them are not I don't want to say flashes in

686
00:32:39,120 --> 00:32:41,000
Speaker 4: the pan, but really captured a moment in time in

687
00:32:41,040 --> 00:32:44,200
Speaker 4: twenty twenty three, but don't do well in twenty twenty

688
00:32:44,200 --> 00:32:47,960
Speaker 4: four considering the changing market environment that we have right now,

689
00:32:48,480 --> 00:32:51,040
Speaker 4: and for me, when I look at CALF, I'm really

690
00:32:51,080 --> 00:32:52,960
Speaker 4: curious to see how they perform in twenty twenty four,

691
00:32:53,040 --> 00:32:55,400
Speaker 4: since so many investors are starting to say, hey, maybe

692
00:32:55,440 --> 00:32:57,520
Speaker 4: we should actually take a look at small caps.

693
00:32:58,000 --> 00:32:59,480
Speaker 2: Yeah, I agree.

694
00:32:59,520 --> 00:33:03,000
Speaker 3: The other one's mostly large cap jep Q, qqq m RSP,

695
00:33:03,280 --> 00:33:06,080
Speaker 3: and BITQ would be bitcoin industry minors. That was a

696
00:33:06,120 --> 00:33:08,800
Speaker 3: little bit of a test because as these nominees came out.

697
00:33:08,640 --> 00:33:09,800
Speaker 2: Bitcoin had exploded.

698
00:33:09,960 --> 00:33:11,680
Speaker 3: Yeah, but it didn't make its way in here because

699
00:33:11,680 --> 00:33:13,880
Speaker 3: it's all twenty twenty four. So I was curious if

700
00:33:13,920 --> 00:33:16,720
Speaker 3: if crypto would actually win this category just because bitcoin

701
00:33:16,800 --> 00:33:19,280
Speaker 3: was hot. But it's probably best that didn't. I think

702
00:33:19,360 --> 00:33:21,320
Speaker 3: next year you could see more of the bitcoin stuff.

703
00:33:21,400 --> 00:33:23,440
Speaker 5: Yeah, next year we'll have to do like a crypto

704
00:33:23,720 --> 00:33:26,120
Speaker 5: category probably, Yeah, I think we will.

705
00:33:26,160 --> 00:33:27,800
Speaker 2: I think you just have to make a new one.

706
00:33:28,000 --> 00:33:28,160
Speaker 1: Yeah.

707
00:33:28,200 --> 00:33:30,040
Speaker 5: And I think it was cool too, because, I mean,

708
00:33:30,280 --> 00:33:33,160
Speaker 5: as we mentioned Ai and mag seven was such sort

709
00:33:33,200 --> 00:33:35,320
Speaker 5: of people think of the story of twenty twenty three.

710
00:33:35,400 --> 00:33:38,800
Speaker 5: So to have this ETF when and really focus on

711
00:33:39,480 --> 00:33:42,560
Speaker 5: you know, small cap and just have such a unique

712
00:33:42,560 --> 00:33:44,680
Speaker 5: and effective strategy, I thought that was really cool.

713
00:33:45,280 --> 00:33:47,320
Speaker 1: All right. It's a question we often ask on the

714
00:33:47,320 --> 00:33:53,920
Speaker 1: show at the end, Lucy Kristin, what's your favorite ETF ticker? Lucy,

715
00:33:53,960 --> 00:33:54,800
Speaker 1: you can go first.

716
00:33:55,080 --> 00:34:00,960
Speaker 5: My favorite ETF ticker? Hmm, I think you got pure

717
00:34:02,960 --> 00:34:06,960
Speaker 5: you know, fun. I do think I think hack is fun.

718
00:34:07,000 --> 00:34:09,400
Speaker 5: I also like I like some of those spot bitcoin tickers.

719
00:34:09,600 --> 00:34:12,120
Speaker 5: I think the van nek h O d L.

720
00:34:12,200 --> 00:34:12,799
Speaker 4: Is kind of fun.

721
00:34:12,840 --> 00:34:14,640
Speaker 5: I like the nods to the culture.

722
00:34:15,400 --> 00:34:20,160
Speaker 4: Take them, Kristin, Oh, mine sounds so boring. Now, Jets.

723
00:34:21,640 --> 00:34:25,680
Speaker 1: It's fine favorite, It's well, I well, what I am

724
00:34:25,800 --> 00:34:26,759
Speaker 1: general Jets fan.

725
00:34:27,120 --> 00:34:32,320
Speaker 4: I like the football team. No, Okay, I'm a giant.

726
00:34:33,080 --> 00:34:34,640
Speaker 4: I'm a giant school. I do have friends that play

727
00:34:34,640 --> 00:34:36,160
Speaker 4: on the Jets, so I kind of am like, yeah,

728
00:34:36,160 --> 00:34:40,040
Speaker 4: I support whenever I see them playing, But I like Jets.

729
00:34:40,080 --> 00:34:43,040
Speaker 4: I love the travel industry. Yeah, I love the travel

730
00:34:43,080 --> 00:34:47,120
Speaker 4: industry in general. I love in the airlines, the airliners,

731
00:34:47,239 --> 00:34:49,520
Speaker 4: and it's just such an easy ticker name to remember

732
00:34:49,600 --> 00:34:51,520
Speaker 4: and Jets love that.

733
00:34:52,120 --> 00:34:54,279
Speaker 2: I think Jets one two or three years ago. It

734
00:34:54,360 --> 00:34:56,600
Speaker 2: had to it had a great year around COVID.

735
00:34:56,680 --> 00:34:59,520
Speaker 1: Yeah. Okay, Lucy Kristin, thanks so much for joining us

736
00:34:59,520 --> 00:34:59,960
Speaker 1: on Trillion's.

737
00:35:00,320 --> 00:35:01,000
Speaker 5: Thanks for having.

738
00:35:00,960 --> 00:35:10,120
Speaker 6: Us, Thanks for listening to Trillions until next time. You

739
00:35:10,160 --> 00:35:13,160
Speaker 6: can find us on the Bloomberg Terminal, Bloomberg dot com,

740
00:35:13,360 --> 00:35:17,160
Speaker 6: Apple Podcasts, Spotify, or wherever else you'd like to listen.

741
00:35:17,800 --> 00:35:20,319
Speaker 6: We'd love to hear from you. We're on Twitter. I'm

742
00:35:20,560 --> 00:35:25,520
Speaker 6: at Joel Webber Show. He's at Eric Balchunas. This episode

743
00:35:25,560 --> 00:35:30,840
Speaker 6: of Trillions was produced by Magnus Hendrickson. Bye