Leveraged and Inverse Funds

The valuation of small-cap stocks relative to large caps remains historically attractive, and small-cap recoveries in the past have resulted in meaningful periods of outperformance.

As we reach the midpoint of 2025, we reflect on the notably volatile trajectory of bond yields so far this year, considering the potential opportunity for tax-aware fixed income investors to harvest losses.

After mid-level performance in Q1, financials sector earnings are seen slowing in Q2, according to analysts, though favorable signs like the yield curve could help margins.

Franklin Mutual Series shares its mid-year outlook, focusing on corporate fundamentals as a catalyst to unlock value in the midst of ongoing market volatility.

At the recent 2025 Morningstar Investment Conference, CEO Kunal Kapoor highlighted a growing trend that is reshaping the investment landscape.

Looking at the first half of 2025 reveals a nuanced landscape for private equity (PE) and principal investors.

The artificial intelligence investment landscape reached a critical inflection point in Q2 2025, with the ROBO Global Artificial Intelligence Index (THNQ) delivering exceptional returns of 24.4%.

The headline employment figure came in stronger than expected and better than feared following the weak ADP report, but the details were far from a blockbuster.

If you’ve been following the mainstream financial media lately, you might think the airline industry is in crisis. From headlines about tariffs and labor costs to geopolitical tensions and delays at Newark Airport, it sounds like air travel should be tanking.

As the second half gets underway, we think a modest overweight to risk assets is called for.

The bull market is alive and well, even amid widespread talk of the “death of U.S. exceptionalism.

Investors looking for cash flow from commercial real estate may want to check out the debt side.

This quarter might best be described as the “Big Beautiful Bounce”. Or the BBB. History has proven time and time again that markets do come back – but this was a historically quick market turnaround.

Some say private credit hasn’t been tested. We disagree…and stress can sharpen the senses.

Proposed regulatory changes involving the Supplementary Leverage Ratio may have benefits for both large banks and the Treasury market.

We began the year optimistic that an environment of slowing growth, disinflation and easier monetary policy would be favorable for fixed income markets. Now at midyear, we maintain that view, while acknowledging that policy uncertainty and geopolitical risks may likely result in continued volatility.

For good reasons, many investors have a love-hate relationship with commodity investments. Operationally, the annoying K-1 form complicates tax filing, although thankfully the industry has started to launch “no K-1” funds.

As direct lending matures and other private credit areas expand, active investors can apply relative value strategies across sectors – and even entire markets – to pursue enhanced outcomes.

For sophisticated investors, this technical shift marks a subtle but powerful pivot in monetary mechanics. It could create demand for Treasuries, improve market liquidity, and push yields lower at a time when the economy is slowing.

Readers of a certain age will no doubt recall President Ronald Reagan launching one of the most ambitious military buildups in American history.

Thematic investing has experienced cycles of popularity over time. In less cautious market environments, investors often turn their attention to ambitious ideas — such as disruptive technologies or other transformative future trends — looking beyond traditional equity ETFs.

The Fed’s credibility rests not on never being wrong, but on being adaptive and forward-looking. Inflation has cooled, wage growth has moderated, and economic momentum is slowing. Now is the time for the Fed to focus not on headline fears, but on real-time data.

We continue to suggest an "up in quality" fixed income bias for the short run, but investors can still consider some of the riskier parts of the fixed income market in moderation.

Until recently, commercial real estate appeared poised for a long-awaited rebound. However, 2025 has revealed a new reality: Uncertainty has become structural.

It’s often said there are only two certainties in life: death and taxes. However, the tax landscape may become somewhat murkier, as the recently passed U.S. House budget bill may potentially lead to some non-U.S. investors paying more taxes than previously anticipated.

Today’s investment landscape, shaped by persistently above-target inflation, structurally higher debt and deficits, and reduced global dollar recycling into US financial markets, has contributed to elevated market volatility alongside historically high policy uncertainty.

Raymond James Ltd enters into agreement with FNZ to accelerate its digital transformation

How do direct indexing ideas fit into a fixed income portfolio? These two powerful strategies make one compelling combination with potential tax and risk management opportunities.

The U.S. Dollar Index, when measured against a basket of other major currencies, has declined by approximately 10% this year through mid-June and is currently trading at its lowest level in three years.

When investors approach the financial markets, there’s a tendency to imagine that conditions can be judged as favorable or unfavorable based on one single measure or another. The fact is that market conditions at any moment in time are a composite of interdependent forces.

How big data, AI and the human element can combine to better pursue consistent alpha.

New strategies, shifting flows, and innovative technologies are driving a more dynamic and diversified marketplace in fixed income ETFs.

Many small deals have done through, including ones from overseas, and an active calendar of corporate shareholder meetings could offer fresh insights into capital plans.

The draft of the One Big Beautiful Bill Act (OBBBA) runs more than 1,000 pages. Analysis of the legislation has focused primarily on its impact on the U.S. federal deficit: the Congressional Budget Office estimates that passage would add almost $3 trillion to the national debt over the coming decade.

The fund shines through as a prime option worthy of consideration among the vast alternatives present in the muni market. With their rare combination of credit quality and yield, munis are offering fixed income investors prime benefits in a still-uncertain bond environment.

Just one day after Prime Minister Shigeru Ishiba likened Japan’s debt situation to that of Greece, the country faced its weakest demand for 20-year bonds since 2012.

In part one of our new series, AI Alpha, we explored the sweeping potential of artificial intelligence (AI) as a transformative force.

In the history of technological progress, there's often a critical misreading. We think the leap is in the product—the engine, the chip, the app.

Financial markets have been experiencing some of their wildest trading days in history this year. Stock and bond prices have been moving in unison—an alarming scenario for investors and their advisors. With increased volatility, long-term investors might benefit from additional exposure to alternative strategies within their portfolio allocations.