A NOTE FROM BOB
Cathie Wood may lose control of Ark Investments, her own creation. This is a cautionary tale of what happens when a cash-starved startup sells a piece of itself to another firm, in a deal that also includes the potential for the minority investor to become the majority owner. A buyout may have been improbable when the firm was a cash-starved startup, but Cathie Woods improbable success—her flagship Ark Innovation Fund (ARKK) is up 100% this year and is now an $11 b. fund on a very long bet on Tesla—has now made the improbable likely.
Dimensional Fund Advisors, a highly-regarded private investment firm, is finally getting into the EFT business. They have launched the Dimensional US Core Market ETF $DFAU and International Core Equity Market ETF $DFAI. Dimensional is becoming a leader in converting tax-managed mutual funds into more tax-efficient ETFs. They will be on ETF Edge November 30.
Everyone's getting into the ETF business. Congrats to my old friend Joe Terranova for launching his Virtus Terranova U.S. Quality Momentum ETF (JOET). The fund tracks the Terranova U.S. Quality Momentum Index (Ticker VTUSQM), which was created and developed by Joe.
We've told you ETFs are more tax efficient than mutual funds for years. Here's more proof. My buddy Todd Rosenbluth at CFRA notes that an estimated 94% of equity and fixed income ETFs offered by iShares, State Street Global Advisors, and Vanguard and star rated by CRA Research will pass along zero capital gains to existing shareholders in 2020. Zero. For more analysis and actionable insights, catch me live on Mondays at 1 PM ET on ETF Edge. KEY STORIES
IN CASE YOU MISSED IT
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Jumat, 20 November 2020
ETF Edge Newsletter
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