00:00And it's time now for an IQ test for Bloomberg's Joel Weber.
00:03It's going to see whether we really know our stuff when it comes to ETFs.
00:07Joel co-hosts the Trillions podcast with Eric, also the head of gains at Bloomberg.
00:11I remain tickled by that.
00:13Joel, what's going on?
00:14You were three for three last week.
00:15It was really impressive.
00:16And this is your last one for a couple of months.
00:18I know, I know.
00:20Maybe you can go two in a row.
00:21Okay, well, we've got a first question for you.
00:24Which financial instrument does JEPI, which is a JPMorgan ETF, primarily use to implement its covered call strategy?
00:33Is it A, total return swaps, B, equity-linked notes, C, futures contracts, or D, equity index futures?
00:42Scarlett, what do you think?
00:43Oh, boy, that's a meaty one.
00:44This is insanely nerdy.
00:45Good God.
00:46I'm actually going to give a hat tip to the Bloomberg Intelligence intern, Denzel Kodua.
00:53Well done.
00:54The first and the second one.
00:56Just throwing a grenade in there.
00:57Zarpong, yeah.
00:58Okay, I'm going to go with total return swaps.
01:01Katie?
01:01Oh, gosh.
01:05I'm going to go with equity index futures.
01:08All right, I'm going to go, I'm pretty confident, equity-linked notes because it's better on tax for taxes, B.
01:13Let's see, Denzel.
01:15Oh.
01:17Throwing a bone to the boss.
01:19Good game.
01:20Yeah, okay, question number two, also from Denzel.
01:24Which country typically has the largest weighting in the VanEck Africa Index ETF?
01:29Ticker is AFK.
01:31A, Nigeria.
01:32B, South Africa.
01:34C, Egypt.
01:35Or D, Kenya.
01:37South Africa, B.
01:38I'm going to say South Africa as well.
01:40I want to say that.
01:42Feels like a red herring.
01:43I'm going to go with Egypt, C.
01:45Wow.
01:45Okay, and let's see.
01:47Dang, I overthought it.
01:49I admitted it.
01:50Sometimes you can think too hard about it.
01:52It's one-to-one.
01:53Let's see if they were paying attention during the tease.
01:56Which stock has the most ETF leveraged assets linked to it?
02:00A, strategy.
02:01B, SpaceX.
02:02C, NVIDIA.
02:03Or D, Micron.
02:05B, SpaceX.
02:06No, wait, wait, hold on.
02:08D, Micron.
02:09Do we go for that?
02:10Do we let her have like...
02:11I'm going to let her.
02:11Okay, I'll slide.
02:12All right, all right.
02:13I'm going to say NVIDIA.
02:15It should be NVIDIA, but I think it's Micron, because that's how insane that stock is.
02:19That's what you said too, right?
02:20I said, yeah, I switched it from B to D.
02:22Okay.
02:23Let's see what the answer is.
02:24Survey says.
02:24Oh, Micron.
02:25Good save.
02:26I thought it hadn't been hot for long enough, but I was wrong.
02:29It was like the OG of the hot ones.
02:30I know.
02:31Yeah.
02:31You can't overthink it.
02:32So, ever.
02:32If you like playing this, play more at QuizGo on the Terminal and also online at Bloomberg.com
02:37slash pointed, where you can play around with some leverages in our other news quiz.
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