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The Institutional ETF Toolbox - How Institutions Can Understand and Utilize the Fast-Growing World of ETFs E Balchunas

The Institutional ETF Toolbox - How Institutions Can Understand and Utilize the Fast-Growing World of ETFs By E Balchunas

The Institutional ETF Toolbox - How Institutions Can Understand and Utilize the Fast-Growing World of ETFs by E Balchunas


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Summary

Get up to speed on the booming innovation surrounding institutional ETF usage. The Institutional ETF Toolbox is the institutional investor's guide to utilizing exchange-traded funds and taking full advantage of the innovative new products in their expanding repertoire.

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The Institutional ETF Toolbox - How Institutions Can Understand and Utilize the Fast-Growing World of ETFs Summary

The Institutional ETF Toolbox - How Institutions Can Understand and Utilize the Fast-Growing World of ETFs by E Balchunas

Get up to speed on the booming innovation surrounding institutional ETF usage. The Institutional ETF Toolbox is the institutional investor's guide to utilizing exchange-traded funds and taking full advantage of the innovative new products in their expanding repertoire. The ETF toolbox is expanding rapidly with nearly one new ETF launching every day this decade so far. As with any financial innovation, this phenomenon brings both opportunity and concerns, as well as a dire need for clarity and strong due diligence skills. This book is both reference and resource, providing data-driven explanations backed by real-world market examples alongside valuable insight from leading practitioners. Coverage includes an examination of the advantages and growth of ETFs as well as current and future uses of ETFs, emerging markets, and the strategic and tactical perspectives you need to effectively use ETFs to optimal effect. The major concerns surrounding ETFs are addressed in full to give you the background you need to formulate a better ETF strategy. ETF allocations are expected to keep growing rapidly across all institutional types, and new and emerging products are becoming more and more liquid allowing easier expression of investment opinion. This book shows you how any investors can utilize these tools to strengthen your portfolio and safely expand into particularly appealing areas. * Understand how the ETF ticks and the how to take advantage of all the myriad of advantages * Learn how to perform effective due diligence using exposure, cost, liquidity, risk and structure * Utilize ETFs for cash equitization, portfolio rebalancing, liquidity management, and more * Learn how ETFs are expanding into equities, fixed income, emerging markets, and alternatives * Learn how to avoid unwanted costs, liquidity issues and hidden complexities ETF usage is climbing with assets growing by about 25 percent per year, and those who use them expect to expand their usage quickly. The Institutional ETF Toolbox provides the actionable information institutions need to identify and adopt the most suitable approach.

The Institutional ETF Toolbox - How Institutions Can Understand and Utilize the Fast-Growing World of ETFs Reviews

This is THE book investors professional or otherwise should read to understand ETFs - Ben Carlson (@awealthofcs) This book has an impressive scope and offers good depth across many areas. - David Foulke (@alphaarchitect)

About E Balchunas

Eric Balchunas is a senior ETF analyst at Bloomberg, where he has more than a decade of experience working with ETF data, designing new functions, and writing ETF research for the Bloomberg terminal. He also writes articles, feature stories, and blog posts on ETFs for Bloomberg.com and appears each week on Bloomberg TV and Radio to discuss ETFs.

Table of Contents

Acknowledgments xiii Introduction: Institutions and ETFs xv SECTION I: THE ETF PHENOMENON CHAPTER 1 Why Are ETFs So Popular? 3 Low Cost 4 Liquidity 6 Tax Effi ciency 8 Transparency 9 Diversification 11 Easy Asset Allocation 13 Standardization 14 Democratic 16 No Emotion 17 Passive Investing 17 Flexibility 19 Anonymity 20 Price Discovery 21 Fiduciary Vehicles 23 Battle Proven 24 Convenience 24 Notes 25 CHAPTER 2 ETF Growth 27 Asset Growth 27 ETF Assets in Perspective 29 Trading Growth 30 Product Growth 34 Notes 36 CHAPTER 3 ETF Mechanics 37 The Story of the ETF 38 The Creation/Redemption Process 42 AMEX Wasn t Alone 44 Finally Ready for Launch 46 Notes 51 CHAPTER 4 Institutional Usages 53 Cash Equitization 55 Manager Transitions 60 Portfolio Rebalancing 63 Portfolio Completion 63 Liquidity Sleeves 64 Shorting/Hedging 66 Long and Lend 70 Tactical Moves 72 In-Kind Creation/Redemption 74 Bespoke ETFs 77 Tax-Loss Harvesting 82 Long-Term Allocation 83 Personal Usage 87 Notes 89 CHAPTER 5 ETF Due Diligence 91 Exposure 93 Cost 100 Liquidity 119 Risk 130 Regulatory Structure 133 ETF Issuers 136 ETF Ratings 138 Notes 140 SECTION II: THE ETF TOOLBOX 143 CHAPTER 6 U.S. Stock ETFs 145 Large Caps 146 Mid Caps 155 Small Caps 156 Broad Market 159 IPOs 162 Sector and Industry ETFs 165 The Tech Sector 166 Industries 175 Thematic ETFs 180 Notes 189 CHAPTER 7 Smart Beta 191 Controversy 192 Smart Beta versus Active Management 193 Growth and Value 196 Fundamentally Weighted ETFs 197 Single Factors 199 Notes 204 CHAPTER 8 International/Global ETFs 205 International Developed Markets 206 Global 209 Emerging Markets 212 The First Movers 212 Second-Generation EM 217 Next-Generation EM ETFs 221 Currency-Hedged ETFs 225 Single-Country ETFs 233 China 241 Notes 248 CHAPTER 9 Fixed Income 251 Regulations 253 Aggregate Bond ETFs 258 Treasuries 261 Mortgage Backed Securities 267 Municipals 268 Corporate 270 Senior Loans 273 Interest Rate Hedged ETFs 278 Multi-Asset Income ETFs 281 International Debt 282 Notes 284 CHAPTER 10 Alternatives 285 Hedge Fund Strategies (aka Liquid Alts ) 286 Commodity ETFs 293 Physically Backed Commodity ETFs 293 Futures-Based Commodity ETFs 300 Notes 308 CHAPTER 11 Leveraged, Inverse, and VIX 309 Leveraged ETFs 309 The VIX 318 Notes 324 CHAPTER 12 Actively Managed ETFs 325 Fixed Income 327 Equity 329 Notes 334 Conclusion: Five Takeaways 335 Note 340 About the Author 341 Index 343

Additional information

CIN1119093864G
9781119093862
1119093864
The Institutional ETF Toolbox - How Institutions Can Understand and Utilize the Fast-Growing World of ETFs by E Balchunas
Used - Good
Hardback
John Wiley & Sons Inc
2016-04-15
384
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in good condition, but if you are not entirely satisfied please get in touch with us

Customer Reviews - The Institutional ETF Toolbox - How Institutions Can Understand and Utilize the Fast-Growing World of ETFs