Swap-based ETFs: Frankie says "no"

  “When two tribes go to war, a point is all you can score,” apparently. Good old Frankie Goes To Hollywood. There are “two tribes” in the ETF sphere as well – one is the full replication tribe and the other is their swap based brethren. For a long time now the full replication tribal elders were saying that their products were best, because they were more transparent and easy to understand. Proponents have been saying they offer excellent tracking despite obvious shortfalls in how dividends or corporate actions affected performance and did not preclude certain clients from investing in ...