... Each of these themes are currently in Strategas Asset Management's Macro Thematic Opportunities ETF (SAMT). 8/14/26 Proprietary Information - ... is notable given Todd Sohn's recent observation of rising leveraged ETF inflows in a "buy the dip" mentality. These ETFs tend to amplify realized volatility through end-of-day rebalancing, ... 8/14/26 Proprietary Information - Please Do Not Redistribute. 7 VII. ETF Research - Todd Sohn * The ETF ecosystem remains in full motion with ...

Laurent Laskowski Equity Derivatives Strategist LLaskowski@bairdstrategas.com 646-292-7990 Todd Sohn, CMT Chief ETF Strategist TSohn@bairdstrategas.com 646-292-7958 -$2,000 $0 $2,000 $4,000 $6,000 $8,000 $10,000 '84 '86 '88 '90 '92 '94 '96 '98 '00 '02 '04 '06 '08 '10 '12 '14 '16 '18 '20 '22 '24 '26 Cumulative Flows, $ Bn Cumulative Fund Flows ETFs vs. Mutual Funds $ Bn ETFs PRESENCE CONTINUES TO GROW 2 Source: Baird Strategas, ICI, as of 6/30/26 The ETF Rule SEC Rule 6c-11 ...

Despite ongoing debate around interest rate hikes and cuts, inflation, and economic growth, capital markets continue to function efficiently and remain broadly accessible. As long as financial conditions stay supportive, the bull market has room to continue. While leverage within the ETF market remains an area to monitor, there is little evidence at this stage that the cycle is nearing its end. Consumer and business spending continues, and debt markets remain willing to ...

The only major curves that are largely below the U.S. curve on a hedged basis are Germany and Australia, the latter which has seen a stronger currency. 2. AI Bonds Index Spread Rising vs IG Index Two weeks ago, in our Weekly Rates and Credit Brief we wrote that hyperscaler spreads, while tight, were widening versus that of the broader IG index. When we broaden the index to one of bonds of companies in AI ETFs we find that the higher risk premium isn't limited to hyperscalers, ...

1200 Annual # of ETF Launches Prepared by Baird Strategas LLC, FINRA member. Proprietary Information - Please Do Not Redistribute. See Appendix for Important Disclosures. ETF Research Tuesday, August 11, 2026 Todd Sohn, CMT (646) 292-7958 tsohn@bairdstrategas.com ETF LAUNCHES HIT 900 YTD Webcast Reminder: Please join myself and Equity Derivatives Strategist, Laurent Laskowski, this Thursday, 8/13 at 10 AM ET. We're going to deep dive on the entire ETF and Options backdrop. ...

The VIX Index finished at 14.9, down from 15.99 the week prior, while VIXEQ finished at 39.64 vs. 44.42 the week before, and VXN declined to 22.82 from 26.00. ETF Description Jul 24, 2026 Jul 31, 2026 Aug 7, 2026 SPY S&P 500 -0.59% 1.10% ... We still like downside in USO via a short-term put spread to capitalize on potential further progress on the Middle East front. There was an interesting bullish shift in sentiment for Gold last week, as the precious metal ETF GLD had its ...

Despite ongoing debate around interest rate hikes and cuts, inflation, and economic growth, capital markets continue to function efficiently and remain broadly accessible. As long as financial conditions stay supportive, the bull market has room to continue. While leverage within the ETF market remains an area to monitor, there is little evidence at this stage that the cycle is nearing its end. Consumer and business spending continues, and debt markets remain willing to ...

ETF Research Thursday, August 6, 2026 Todd Sohn, CMT (646) 292-7958 tsohn@bairdstrategas.com GOLD + BITCOIN ETFs STILL HAVE A ROLE TO PLAY Since the eruption of "Metal Mania" back in January, ... Today, what's interesting to us about the environment is 1) our ETF work has meaningfully cooled and 2) our Options team is also flagging the ... Flows suggest a low bar for tactical long exposure, and we also present call option for those seeking to limit capital to premiums. ETFs to ...

Duration Futures OI MOVE Index & Bond ETF Volatility Options on Tsy Futures OI Options on Futures OI Put/Calls Note/Bond Allotment + Dealer Positions Non-Comm. ... NEUTRAL 8/5/26 Proprietary Information - Please Do Not Redistribute. 13 BOND MARKET VOLATILITY: MOVE INDEX & BOND ETF ATM IMPLIED VOLATILITY Broad bond volatility has picked up a bit recently, but remains relatively low versus history. With volatility on individual fixed income ETFs tame too, we maintain this as long. LONG ...

... MA & 65-Day High Line BLK Relative to S&P 500 Positive / Negative Trend Signals EURO RELATIVE HIGH LIST STILL DOMINATED BY FINANCIALS Proprietary Information - Please Do Not Redistribute. 19 8/4/2026 AIRLINES STILL TRENDING Proprietary Information - Please Do Not Redistribute. 20 8/4/2026 Airline ETF: JETS 50 & 200-Day MA JETS Relative to S&P 500 Positive / Negative Trend Signals Overbought / Oversold ✓ ✓ Strong response from a modestly oversold position over recent days. ...