cover of episode A Better Way to Use Leverage in Your ETF Portfolio

A Better Way to Use Leverage in Your ETF Portfolio

2024/11/1
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Bryan Armour
I
Ivana Hampton
T
Travis Miller
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Bryan Armour: 杠杆投资是指借钱投资以放大收益,但同时也放大风险。杠杆的成本包括利息和潜在的损失。在市场下跌时,杠杆风险会加剧,历史上多次市场崩盘都与杠杆有关。杠杆ETF为了实现每日杠杆,会每日重置掉期,在震荡市场中会导致高位卖出低位买入,从而降低业绩。许多杠杆ETF表现不佳,甚至出现巨额亏损。投资者可以通过构建有效前沿投资组合,利用杠杆来提高风险调整后的收益。投资者可以通过保证金账户、衍生品(期权、期货、掉期)和杠杆ETF等方式增加投资组合的杠杆,但保证金账户的杠杆成本很高,期权的收益结构复杂,期货是最有效的杠杆工具。对于大多数散户投资者而言,通过共同基金获得杠杆可能是最佳途径。WisdomTree系数基金和Return Stack ETF等杠杆ETF表现相对较好,它们利用期货来获得杠杆敞口。 Ivana Hampton: 杠杆ETF的波动性拖累以及每日重置仓位是其声誉受损的原因之一。

Deep Dive

Chapters
Leverage is discussed as a tool that can magnify returns but also comes with significant risks, particularly during market downturns.
  • Leverage involves borrowing money to invest, magnifying returns but also risks.
  • Market downturns can lead to compounding losses and increased borrowing costs.
  • Leverage has been central to many historical market crashes.

Shownotes Transcript

Bryan Armour, director of passive strategies research for North America for Morningstar Research Services, talks about the best way for most retail investors to leverage and which leveraged ETFs look promising. Travis Miller, strategist for Morningstar Research Services, discusses how tech companies are looking to nuclear energy to fuel data centers’ surging demand.Why Leverage Has a Debatable Reputation in Investing

Volatility Drag and Leveraged ETFs

Why Does Leverage Kill ETFs?

What Are ETPs?

A Better Way for Investors to Use Leverage in Their Portfolio

How Can Investors Add Leverage to Their Portfolio Without Volatility Drag?

Costs of Leveraged ETFs

How Most Investors Should Gain Exposure to Leverage

Do Leveraged ETFs Show Promise?

What’s Coming Up in the Markets?

How Much Energy Does a Data Center Need to Run?

Why Small Modular Reactors Could Be Key to Powering Data Centers

Are Carbon-Free Pledges Driving Companies Toward Nuclear Energy?

Which Utilities Companies Are Next to Sign Data Center Deals?

Is This Shift Toward Nuclear Energy Larger Than Just AI?

What to Look for in Utilities Companies’ Earnings

Utilities Stock Picks

 

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Subscribe to Morningstar's ETFInvestor Newsletter.

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Bryan Armour

Travis Miller

Ivanna Hampton)

 

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