There have been nearly 125 ETFs that changed their underlying indexes since 2018. That means advisors relying on past performance are incorrectly focused on the old rule book.
Exchange-traded fund issuers have this year launched 115 active products versus just 51 passive funds, the first time active launches have ever outstripped passive.
Imagine a world where companies were allocated capital not only based on the potential profitability of the investment but also on the value that it could provide humanity generally.