ETFs & Mutual Funds
One-Day-Only ETFs Are Jack Bogle’s Nightmare Brought to Life
- Critics argue single-stock funds are designed for day trading
- Risky ETFs highlight the $10 trillion industry’s culture shift
Jack Bogle
Photographer: Scott Eells/Bloomberg
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The late Jack Bogle — father of the first index fund — famously loathed their exchange-traded offspring, warning that it only incentivizes speculative trading among “fruitcakes, nut cases and lunatic fringe.” Fast forward to 2024, and critics warn a new generation of ETFs are designed to do exactly that.
Enter the high-octane arena of leveraged single-stock funds, which use derivatives to amplify returns on an individual company.