Insights you might have missed last week

Trade war, getting HeROIC, and the global ETF outlook

Explore some of the highest quality insight collected from top asset managers and institutions that you might have missed this week.

Why You Shouldn’t Trade the Trade War (Morningstar Indexes)

For compliance reasons, this paper is only accessible in certain geographies

Market lessons from past tariffs and federal policies can help investors avoid falling prey to FUD.

2025 Global ETF Outlook: the Expansion Accelerates (State Street)

For compliance reasons, this paper is only accessible in certain geographies

What’s the next big thing for ETFs? State Street's experts share their predictions for the megatrends that are set to shape each major region throughout the year.

How to Get heROIC: Highly Enhanced Return on Invested Capital (Robeco)

For compliance reasons, this paper is only accessible in certain geographies

While standard ROIC is a helpful indicator of financial quality, an enhanced definition developed in collaboration between Robeco’s Fundamental and Quantitative Equity teams yields even better outcomes.

Investing Essentials: Why Equities Continue to Make Sense Today (New York Life Investments)

For compliance reasons, this paper is only accessible in certain geographies

Periods of high inflation and economic recessions have not stopped the long-term trend of equity markets.

Royalties: A Primer (Partners Group)

For compliance reasons, this paper is only accessible in certain geographies

As private markets strategies continue to expand and specialize, royalties have emerged as an asset class with an estimated market size of USD 2 trillion and growing.

Valuations Reflect U.S. Exceptionalism (Alpha Architect)

For compliance reasons, this paper is only accessible in certain geographies

The major narrative of the 17-year period 2008-2024 has been that U.S. stocks have far outperformed international stocks. This outperformance has been attributed to U.S. exceptionalism.

All-to-All Trading in the U.S. Treasury Markets (FRBNY)

For compliance reasons, this paper is only accessible in certain geographies

This article discusses what all-to-all trading would mean for the Treasury market, the benefits it might bring, and what can be learned from the experience of other markets.

Go Against the Tide, or with the Flow? (UBS AM)

For compliance reasons, this paper is only accessible in certain geographies

The macroeconomic backdrop for infrastructure is positive on most counts, including stronger than expected economic growth, above average inflation, and declining interest rates (albeit slowly).