FYI: In 2016, Sanford Bernstein published a report titled “The Silent Road to Serfdom: Why Passive Investing is Worse Than Marxism” by Inigo Fraser-Jenkins et al.
Ironically, a little more than a year later, the firm launched its only ETFs, the Bernstein U.S. Research Fund (BERN) and the Bernstein Global Research Fund (BRGL), both tracking indexes based on Sanford’s stock recommendations.
Those funds shut down yesterday, never having gathered much in the way of assets. Although they initially outperformed after their launches, in recent months, BERN, the large cap U.S. ETF, underperformed the SPDR S&P 500 ETF Trust (SPY) by a significant margin, while BRGL trailed the Vanguard Total World Stock ETF (VT).
Regards,
Ted
https://www.etf.com/sections/daily-etf-watch/indexing-detractor-closes-etfs?nopaging=1
