When ETF holdings are not static, evaluating them based on past performance is a lot less relevant.

“Active managers are now taking a lot of their insights and packaging them up in rules-based ways and delivering them to clients to be a complement and also an alternative to pure passive,” says Oppenheimer Funds’ Mo Haghbin.

Jerome Powell, let’s be frank, didn’t say much that we didn’t already know: the Fed’s got its three more hikes there in the dot-plots; the data the Fed harps on, jobs and inflation, have firmed since December; and odds were already strong for...

Why ESG Investing Works