ETF Views: Factors, Alts, Derivative Onions & Bugs

March 25, 2025

2 minute read

Listen on The Move

In this episode Pierre Daillie sits down with Tony Dong, founder of ETF Portfolio Blueprint and lead ETF analyst at ETF Central, for a comprehensive dive into the rapidly-evolving world of exchange-traded funds. Tony brings sharp insights and a dose of healthy skepticism to today’s ETF landscape—from flashy private credit products and speculative options-based funds to underappreciated core portfolio strategies like the "cockroach portfolio."

Tony pulls back the curtain on everything from buffer ETFs and zero-day options to smart beta, tax efficiency, and how to write an investment policy statement that keeps you grounded when FOMO strikes.

You’ll learn:

What to watch out for in private market ETFs like PRIV and XOVR
The performance gap between growth and value ETFs—and what to do about it
Why simplicity beats complexity in volatile markets
How the “cockroach portfolio” can deliver long-term resilience
The importance of resisting shiny object syndrome with new ETF launches

Chapters & Timestamps:
00:00 – Risk in Private Credit ETFs: A Sanity Check
01:45 – Tony Dong’s Background: From Risk Manager to ETF Expert
03:50 – Market Outlook: Why Allocators Are Skittish in 2024
05:00 – Growth vs. Value ETFs: Are Investors Missing the Point?
08:00 – The Better Way to Access Factor Investing
10:30 – Risks and Red Flags in Private Market ETFs (PRIV, XOVR)
14:30 – Authority Bias and Fund Due Diligence
16:45 – Best New ETF Launches: Canada vs. US
18:50 – Derivative-Based and Zero-DTE ETFs: Caution Required
20:15 – Liquid Alternatives and Bridgewater’s All Weather ETF
22:25 – Return Stacking and Trend Following Strategies
23:45 – The Problem with “1+1” S&P 500 + Bitcoin ETFs
25:00 – Buffer ETFs Explained: Training Wheels for Risk-Averse Clients
27:00 – Why You Need an Investment Policy Statement
29:00 – Building the Cockroach Portfolio: Resilience First
32:00 – The Psychology of Staying Invested
34:00 – Where to Find Tony Dong and His Research

Featured Guest:
Tony Dong – Founder, ETF Portfolio Blueprint
Lead ETF Analyst, ETF Central
Website: https://etfportfolioblueprint.com
LinkedIn: Tony Dong on LinkedIn