The Index Reality Check: What Passive Investors Actually Own
Index funds promise the whole market. Cap weighting, concentration, and hidden costs shape what you really own. A factual tour for passive investors.
The Index Reality Check
What passive investors actually own, and what the index quietly costs.
Tracking Difference: The Index Fund Fee You Never See
Tracking difference is the gap between an index fund's return and its index. It often costs more than the expense ratio. Here is how to measure it.
What ETF Investors Give Up: The Case for Picking Stocks
Index funds guarantee the market return minus fees. The price: no valuation judgment, no right of refusal, and position sizes set by market cap.
Expense Ratios: What They Really Cost You Over 20 Years
A 1.00% expense ratio strips $66,254 from a hypothetical $100,000 portfolio over 20 years. The full math behind fee drag, with comparison tables.
The Hidden Concentration of the S&P 500
Cap weighting quietly concentrates the S&P 500 in a handful of giant companies. Here is the math behind it and what it means for your portfolio.
The Math of Concentration vs Diversification
Risk falls fast up to 10 stocks, then barely moves: 500 holdings cut volatility only 1.3 points below 20. The math both camps should know.