Exactly, this is a fundamental fallacy of index investing—you can’t “buy the market” and any ETF that claims otherwise is a cleverly crafted leaky abstraction.

Exactly, this is a fundamental fallacy of index investing—you can’t “buy the market” and any ETF that claims otherwise is a cleverly crafted leaky abstraction. The problem with leaky abstractions is that you usually have no idea that they leak until everything collapses...