More ETFs than stocks

There are now more equity ETFs listed in the US than listed US companies. ETFs seem to have become a very profitable business for Wall Street, despite their low fees, and often go beyond simply replicating the market.

At ECP, we see ETFs as useful tools for building diversified portfolios. But we also believe that carefully selected individual stocks — whether directly or through our in-house funds — remain key to creating long-term value.