00:00It's time for an IQ test where Bloomberg's Joel Weber is going to see whether Scarlett, Eric, and I really
00:05know our stuff when it comes to ETFs.
00:07You know Joel as the co-host of the Trillions podcast with Eric, and he's also the head of games
00:13at Bloomberg, the first to ever hold the title.
00:16Joel.
00:17Are you ready?
00:17I don't know.
00:18Have you been doing your homework?
00:19Kind of.
00:20Okay, well, we'll find out.
00:21How do you even prepare for this test?
00:23You know, there's things you can do.
00:25You can read a lot of research and get on your Bloomberg terminal and do some filtering.
00:28Okay, this is a big week for space stuff.
00:31Yeah.
00:31It might be going towards the moon again.
00:33Which of these space-themed ETFs has the highest five-year returns?
00:38Is it A, UFO, B, rocked, C, Mars, or D, ARCX?
00:47I'm going to go with C or D.
00:48Okay.
00:49You have to pick one, though.
00:50Okay.
00:51It's a nice try, though.
00:52You're going with D?
00:53Yeah.
00:53Okay, I'm going with D, too, because I think that defense, I know that defense has done well.
00:58Okay.
00:58Eric?
00:59I'm going to go with B, because I don't, I think, and that one's been around a while.
01:05I think the other two are not five years old.
01:06He saw through it.
01:08C and D haven't been around for five years, so.
01:10I'm going to roll out of here.
01:11As if Eric gets round one, that is B.
01:13I feel like it's a technical way.
01:14Yeah.
01:15Yeah, I don't like that.
01:16It was sleuthy.
01:17Good job, Eric.
01:17Scarlet and I are booing.
01:18Way to see through it.
01:19But, okay, round two.
01:22Our question is really about whether or not Eric's been doing his homework and reading
01:26his own research.
01:27Nearly 90 ETFs launched in February.
01:30According to Bloomberg Intelligence, about 88% of them shared what trait?
01:34A, they were actively managed.
01:36B, they held NVIDIA.
01:38C, they came from indie issuers.
01:41That's like one of Eric's favorite words.
01:44Or D, they were thematic.
01:46Ooh, this is good.
01:47I'm going to go with A, actively managed.
01:49I'm going to stick with Scarlet.
01:51I'm going with A, too.
01:52Either way.
01:53I'm with her.
01:54Eric?
01:54We're due for a layup.
01:55This is, it's easy.
01:56It is A.
01:56Oh, thank God.
01:57All right.
01:58Yeah.
01:58Way to bring it home.
01:59We like that question.
02:00Final question for today and this round.
02:04We had a sneak peek of it before.
02:06Which of these ETFs has the highest total cost?
02:10It is also the highest total cost, I think, in all of ETFdom.
02:14Oh, my God.
02:15I mean, gosh.
02:16Eric, what were you paying me for?
02:17You can go to expense ratio on ETF Go, and that's how I filtered for it.
02:21Expense ratio includes acquired fund fees.
02:22Hint, hint.
02:23Hint, hint.
02:23I know.
02:24I'm so psyched.
02:26Scarlet, what do you think?
02:29I'm going to go with A.
02:30She's just like, these are tickers.
02:32We read them out before, but hedge, HDGE, dividend, DVDN, PBDC, or ORR.
02:40It's C.
02:42She says that with confidence.
02:43I think it is C, because the acquired fund fees.
02:46Okay.
02:47Reveal.
02:49Oh, my God.
02:50She's so confident, though.
02:52Honestly, I've never even heard of that fund fee.
02:53There you go.
02:53What is it doing?
02:55Yeah.
02:55Well, we can go figure it out, but, you know.
02:57No one's happy.
02:58Two out of three for Eric.
02:59I think one out of three?
03:01Yeah.
03:01Okay.
03:02All right.
03:02Well, better luck.
03:04We've got to have this person on.
03:05Why are you charging so much?
03:07We'll find out.
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