ETF Prime: Dave Nadig on Passive ETF Fear-Mongering

On this week’s episode of ETF Prime, host Nate Geraci is joined by Dave Nadig, director of research and CIO of ETF Trends, to discuss ARK Invest’s filing for a new interval fund, the rebalancing cost of passive ETFs, and the sharp price swings in stocks like Amazon and Facebook. Later, John Bowman, executive vice president of the CAIA Association, is on to discuss alternative investments, crypto and tokenization, as well as democratizing investing. The podcast closes with Robert Cantwell, founder of Upholdings, discussing the first hedge fund to ETF conversion fund, the Upholdings Compound Kings ETF (KNGS) .

The discussion opens with ARK’s filing for an interval fund which gives the firm access to private placements that might have less liquidity but still fall within the investing thesis of innovative and disruptive technologies. Interval funds are different from exchange traded funds on a number of levels, but primarily in that they hold both public and private companies within their portfolio and do not trade on exchanges. Redemption occurs at set intervals.

“The interval fund is basically a closed-end fund that allows you to get some liquidity once a quarter; it’s a lovely way to thread the needle, I think, on these kinds of exposures,” Nadig says.

Moving on, Nadig and Geraci discuss the recent report that index funds are losing $4 billion annually in trading costs based on a research paper. While Nadig doesn’t agree with the methodology used and the ultimate findings, he does believe it brings an important issue forward in questioning how index rebalances move prices forward.

The entry into the large indexes gives companies access to more liquidity, derivatives, and the like, and warrants the increase in price and basis points that a company gains when joining one of the large indexes.

“The question is, knowing indexes are […]

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