ETF Market & Strategy - The discussion revolves around buffer ETFs and whether the downside protection they offer is worth limiting potential gains [1] - Some ETFs are modifying their methodology to address criticisms regarding limited upside potential [2] - True Shares ETFs pioneered uncapped buffered ETFs, believing capturing upside events is as important as mitigating downside events for long-term returns [3] - True Shares ETFs use a traditional buffer with an uncapped upside capture or participation rate [4] Performance & Risk - In the 12 months following July 2020, the S&P 500 rose approximately 39%, while True Shares' buffered product returned close to 31%, outperforming peers capped in the teens [4] - Historically, the S&P 500 has returned over 17% roughly 34% of the time, with an average return of approximately 26% during those periods [5][6] - April (Liberation Day) was cited as a significant test for buffered ETFs, second only to the pandemic's early days [7] Future Discussion - The conversation will continue on ETFedge, featuring Tony Kelly from Bond Blocks discussing fixed income and buffers [8]