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My point is that the publisher of the index does have more discretion than you claim they do, they are not entirely passive and rules-driven. Even where they ar
by achamayou 9y ago
My point is that the publisher of the index does have more discretion than you claim they do, they are not entirely passive and rules-driven. Even where they are, they do change the rules from time to time.
They are also trying to please a number of people who depend on the index, not all of which are retail investors buying ETFs.
- conistonwater 9y agoBut passive doesn't mean that the rules never change, it's passive as opposed to active, not passive in the sense of static. There might be some kind of miscommunication here or something.