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Index
Cover
Contents
Title
Copyright
Dedication
Foreword
Acknowledgments
Introduction
Part I: ETF Basics
Chapter 1: ETFs from Evolution to Revolution
ETFs Are a Growth Industry
A Short History of Mutual Funds
The Future of ETFs
Summary
Chapter 2: The Nuts and Bolts of ETFs
Acts like a Fund, Trades like a Stock
Closed-End Fund Issues
ETFs to the Rescue
Summary
Chapter 3: Types of Exchange-Traded Portfolios
The Expanding Exchange-Traded Universe
Putting It All Together
Summary
Chapter 4: ETF Benefits and Drawbacks
The Positive Aspects of ETFs
The Negative Aspects of ETFs
Guide to ETF Characteristics
Summary
Chapter 5: Actively Managed ETFs
The First Filings
Not Quite Open-End Active
Advantages of Actively Managed ETFs
Disadvantages of Actively Managed ETFs
Summary
Part II: Indexes That ETFs Follow
Chapter 6: Benchmark Indexes and Strategy Indexes
A Definition of Benchmark Indexes
A Definition of Strategy Indexes
Characteristics of a Good Benchmark
Details of Benchmark Indexes
Details of Strategy Indexes
A Different View on Indexes
Summary
Chapter 7: Index Strategy Boxes
Indexes Follow Rules
Index Strategy Boxes
Benchmark Indexes and Strategy Indexes
Summary
Chapter 8: Index Security Selection
Security Selection Categorization
Passive Security Selection
Screened Security Selection
Quantitative Security Selection
When One Selection Method Does Not Fit
Summary
Chapter 9: Index Security Weighting
Capitalization Weighting
Fundamental Weighting
Fixed Weighting
Modified Security-Weighting Schemes and Style Biases
Summary
Part III: ETF Styles and Choices
Chapter 10: Broad U.S. Equity and Style ETFs
Broad Market Benchmarks and Style Components
Benchmark Index ETFs
U.S. Equity Strategy Index ETFs
Sample List of Broad U.S. Equity and Style ETFs
Chapter 11: Global Equity ETFs
Advantages of Investing Internationally
Disadvantages of Investing Internationally
Broad International and Global Market Benchmarks
International Strategy Indexes
Global and International ETFs List
Summary
Chapter 12: Industry Sector ETFs
The Evolution of Industry ETFs
Industry Sector Categorization
Industry Strategy Indexes
REIT ETFs
A Partial List of Industry ETFs
Summary
Chapter 13: Special Equity ETFs
Thematic Investing
Actively Managed Indexes
Leveraged and Short Beta ETFs
Hedging with ETFs
Special Equity ETFs List
Summary
Chapter 14: Fixed Income ETFs
Bond Market Structure
Treasury Indexes
Mortgages
Asset-Backed Securities
Investment-Grade Corporate Bonds
High-Yield Corporate Bonds
Composite Indexes
Barclays Aggregate Bond Index
Municipal Bond ETFs
International Fixed Income ETFs
Preferred Stock ETFs
Fixed Income ETF List
Summary
Chapter 15: Commodity and Currency ETFs
Commodities Basics
Commodity ETFs
Commodities Indexes
A Progression of New Funds
Disadvantages of Commodity ETFs
Currencies
The Future of Futures ETFs
Commodity and Currency Fund List
Summary
Part IV: Portfolio Management Using ETFs
Chapter 16: Portfolio Management Strategies
Passive Investing
Life Cycle Investing
Active Portfolio Strategies
Special Strategies and Uses
Tips for ETF Investors
Summary
Chapter 17: Passive ETF Portfolios
Buy, Hold, and Rebalance
Core and Explore
Realistic Returns from Passive Portfolios
The Forecast
Summary
Chapter 18: Life Cycle Investing
Life Cycle Models
ETF Portfolios for Each Stage
Summary
Chapter 19: Active Portfolio Management with ETFs
Nominal and Risk-Adjusted Returns
Top-Down Strategies
Momentum Investing
Technical Analysis
Prudence Is Recommended
Summary
Chapter 20: Special Portfolio Strategies
Unique Characteristics of ETFs
Using ETFs to Reduce Industry Risk
Pairs Trading and Market-Neutral Strategies
Currency Hedging and Speculation
Tax Loss Harvesting
Future ETF Strategies
Summary
Chapter 21: Operational Tips for ETF Investors
Selecting a Custodian
Trading ETF Shares
Asset Location Tips
Rebalancing ETFs
Hiring an Investment Manager
Summary
Appendix A: Index Strategy Box Abbreviation Guide
Appendix B: ETF Resource List
Glossary
Index
About the Author
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