We have a patent on our Vipers ETF structure that we invented,
One-hundred billion is a big number but that's all it is. I don't pay much attention to bragging rights. That's not what investors are concerned about. Investors are concerned with returns.
I wouldn't say mid caps are a screaming buy, but they are somewhat attractive on a relative basis.
We don't believe this is any major result of a fear of large cap stocks. It's the idea you should have broader diversification.
We would be willing to talk to other fund companies that would want to use the innovation.
Earnings have been very strong for companies across the board, so it's a nice environment for the market as long as the Fed is done with their tightening.
A lot of people are starting to realize they need to diversify more than simply holding large cap stocks. The more sophisticated investors are going for a 'total-market' concept. They're buying not just large caps, but mid caps and small caps.
It's a way to gain low-cost, very tax-efficient exposure to the market.
It's just 30 stocks, ... It is generally positive, but overall it doesn't change the position of institutional investors or individual investors for that matter.
Index funds really deliver what they promised, and you don't necessarily get that with an active manager.