Core Viewpoint - The State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is a passively managed ETF aimed at providing broad exposure to the Mid Cap Blend segment of the US equity market, with assets exceeding $15.07 billion, making it one of the larger ETFs in this category [1] Group 1: Fund Overview - Launched on November 8, 2005, SPMD is designed to track the Mid Cap Blend segment of the US equity market [1] - The fund is sponsored by State Street Investment Management [1] Group 2: Investment Characteristics - Mid cap companies, with market capitalizations between $2 billion and $10 billion, are generally seen as having higher growth prospects compared to large cap companies and are less risky than small cap companies [2] - Blend ETFs typically hold a mix of growth and value stocks, providing a stable and growth-oriented investment [2] Group 3: Cost Structure - SPMD has an annual operating expense ratio of 0.03%, making it one of the least expensive options in the ETF space [3] - The ETF offers a 12-month trailing dividend yield of 1.37% [3] Group 4: Sector Exposure and Holdings - The ETF has a significant allocation to the Industrials sector, comprising about 23.7% of the portfolio, followed by Financials and Information Technology [4] - Comfort Systems USA Inc (FIX) represents approximately 0.94% of total assets, with the top 10 holdings accounting for about 7.21% of total assets under management [5] Group 5: Performance Metrics - SPMD aims to match the performance of the S&P 1000 Index, with a year-to-date increase of roughly 6.83% and a decline of about 0.72% over the past year as of November 28, 2025 [6] - The ETF has traded between $44.89 and $59.14 in the past 52 weeks [6] - It has a beta of 1.08 and a standard deviation of 18.24% over the trailing three-year period, indicating effective diversification of company-specific risk with about 405 holdings [7] Group 6: Alternatives - SPMD carries a Zacks ETF Rank of 3 (Hold), indicating a reasonable option for investors seeking exposure to the Mid Cap Blend area [8] - Other comparable ETFs include the Vanguard Mid-Cap ETF (VO) with $89.06 billion in assets and an expense ratio of 0.04%, and the iShares Core S&P Mid-Cap ETF (IJH) with $101.32 billion in assets and an expense ratio of 0.05% [9] Group 7: Market Trends - Passively managed ETFs are gaining popularity among both institutional and retail investors due to their low cost, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [10]

Core Insights - The State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) is a large-cap growth ETF with over $43.33 billion in assets, making it one of the largest in its category [1] - Large cap companies, defined as those with market capitalizations above $10 billion, are considered more stable and less volatile compared to mid and small cap companies [2] - Growth stocks, while having higher sales and earnings growth rates, come with higher valuations and risks compared to value stocks [3] Costs - SPYG has an annual operating expense of 0.04%, making it one of the least expensive ETFs in the market [4] - The ETF offers a 12-month trailing dividend yield of 0.55% [4] Sector Exposure and Top Holdings - The ETF has a significant allocation of approximately 43% to the Information Technology sector, followed by Telecom and Consumer Discretionary [5] - Nvidia Corp (NVDA) constitutes about 14.9% of total assets, with the top 10 holdings making up around 55.13% of total assets [6] Performance and Risk - SPYG aims to match the performance of the S&P 500 Growth Index and has gained about 17.17% year-to-date and approximately 19.54% over the past year [7] - The ETF has a beta of 1.11 and a standard deviation of 18.63% over the trailing three-year period, indicating a medium risk profile [8] Alternatives - SPYG holds a Zacks ETF Rank of 1 (Strong Buy), indicating strong potential for investors seeking large cap growth exposure [10] - Other alternatives include the Vanguard Growth ETF (VUG) and Invesco QQQ (QQQ), with VUG having $193.69 billion in assets and QQQ at $386.22 billion [11] Bottom-Line - Passively managed ETFs like SPYG are gaining popularity due to their low cost, transparency, and tax efficiency, making them suitable for long-term investors [12]

Core Insights - Adventist Health System West established a new position in the iShares Core MSCI Total International Stock ETF (IXUS) valued at approximately $38.2 million as of September 30, representing 6.2% of its reportable 13F assets under management [1][3][6] Investment Details - The fund acquired approximately 462,368 shares of IXUS during the third quarter, with shares priced at $83.98 as of the latest market close [2][3] - IXUS has a net asset value of $50.9 billion and a one-year total return of 17.5% [4][5] Strategic Shift - This investment reflects Adventist Health's strategy to pivot towards broader, diversified global exposure, moving away from more volatile emerging markets [6][10] - The organization manages about $600 million in equity assets to support its $6 billion nonprofit healthcare operation, aiming for long-term growth and liquidity [9] ETF Overview - IXUS provides comprehensive access to global equity markets outside the United States, including both developed and emerging markets, capturing over 4,000 global stocks [5][9] - The fund is passively managed and designed for long-term international equity allocation, serving as a core holding for diversified portfolios [7][9]

Core Viewpoint - The SPDR NYSE Technology ETF (XNTK) is a passively managed ETF that provides broad exposure to the Technology - Broad segment of the equity market, appealing to both institutional and retail investors due to its low cost and tax efficiency [1][2]. Group 1: Fund Overview - XNTK was launched on September 25, 2000, and has accumulated over $1.24 billion in assets, making it one of the larger ETFs in its category [1][3]. - The ETF aims to match the performance of the NYSE Technology Index, which includes 35 leading U.S.-listed technology companies [3]. Group 2: Costs and Performance - The annual operating expense ratio for XNTK is 0.35%, positioning it as one of the least expensive options in the ETF space [4]. - The ETF has a 12-month trailing dividend yield of 0.32% [4]. - Year-to-date, XNTK has gained approximately 20.99%, and it is up about 28.52% over the past year, with a trading range between $164.461 and $246.83 in the last 52 weeks [7]. Group 3: Sector Exposure and Holdings - The ETF has a significant allocation of about 70.6% in the Information Technology sector, with Consumer Discretionary and Telecom as the next largest sectors [5]. - Palantir Technologies Inc A (PLTR) constitutes around 5% of total assets, followed by Uber Technologies Inc (UBER) and Netflix Inc (NFLX), with the top 10 holdings making up approximately 34.69% of total assets [6]. Group 4: Alternatives and Rankings - XNTK holds a Zacks ETF Rank of 2 (Buy), indicating favorable expected returns and momentum [8]. - Other alternatives in the technology ETF space include the Technology Select Sector SPDR ETF (XLK) and the Vanguard Information Technology ETF (VGT), which have significantly larger asset bases of $85.15 billion and $100.28 billion, respectively [9].

Core Viewpoint - The Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) is a passively managed fund designed to provide broad exposure to the Large Cap Blend segment of the U.S. equity market, with significant assets under management and low operating costs [1][3]. Group 1: Fund Overview - GSLC was launched on September 17, 2015, and has accumulated over $14.42 billion in assets, making it one of the largest ETFs in its category [1]. - The fund is sponsored by Goldman Sachs Funds and aims to match the performance of the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index [6]. Group 2: Investment Characteristics - Large cap companies typically have market capitalizations above $10 billion, offering more predictable cash flows and lower volatility compared to mid and small cap companies [2]. - Blend ETFs hold a mix of growth and value stocks, exhibiting characteristics of both types of equities [2]. Group 3: Cost Structure - GSLC has annual operating expenses of 0.09%, positioning it as one of the least expensive options in the ETF space [3]. - The ETF offers a 12-month trailing dividend yield of 1.05% [3]. Group 4: Sector Exposure and Holdings - The ETF has a significant allocation to the Information Technology sector, comprising about 33.6% of the portfolio, followed by Financials and Consumer Discretionary [4]. - Nvidia Corp (NVDA) is the largest holding at approximately 7.04% of total assets, with Microsoft Corp (MSFT) and Apple Inc (AAPL) also among the top holdings [5]. Group 5: Performance Metrics - GSLC has increased by roughly 10.41% year-to-date and is up about 19.62% over the past year as of August 15, 2025 [6]. - The ETF has traded between $97.68 and $126.60 in the past 52 weeks [6]. Group 6: Risk Profile - The ETF has a beta of 0.99 and a standard deviation of 16.45% over the trailing three-year period, indicating a medium risk profile [7]. - With around 444 holdings, GSLC effectively diversifies company-specific risk [7]. Group 7: Competitive Landscape - GSLC holds a Zacks ETF Rank of 2 (Buy), indicating strong potential based on expected returns, expense ratio, and momentum [8]. - Other comparable ETFs include the SPDR S&P 500 ETF (SPY) and the Vanguard S&P 500 ETF (VOO), which have significantly larger assets under management [9]. Group 8: Market Trends - Passively managed ETFs are gaining popularity among both institutional and retail investors due to their low cost, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [10].

Core Viewpoint - The Schwab U.S. Large-Cap ETF (SCHX) is a passively managed fund designed to provide broad exposure to the Large Cap Blend segment of the U.S. equity market, with significant assets under management and low expense ratios [1][3]. Group 1: Fund Overview - SCHX was launched on November 3, 2009, and has accumulated over $57.11 billion in assets, making it one of the largest ETFs in its category [1]. - The fund targets companies with market capitalizations above $10 billion, which are typically stable with predictable cash flows [2]. Group 2: Costs and Performance - The ETF has an annual operating expense ratio of 0.03%, positioning it as one of the least expensive options available [3]. - It has a 12-month trailing dividend yield of 1.15% [3]. - SCHX has gained approximately 7.93% year-to-date and 23.55% over the past year, with a trading range between $19.60 and $25.24 in the last 52 weeks [7]. Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Information Technology sector, comprising about 33.5% of the portfolio, followed by Financials and Consumer Discretionary [4]. - Nvidia Corp (NVDA) is the largest holding at approximately 7.02% of total assets, with Microsoft Corp (MSFT) and Apple Inc (AAPL) also among the top holdings [5]. Group 4: Risk and Alternatives - SCHX aims to match the performance of the Dow Jones U.S. Large-Cap Total Stock Market Index, which includes around 750 stocks and is float-adjusted market-capitalization weighted [6]. - The ETF has a beta of 1.01 and a standard deviation of 16.94% over the trailing three-year period, indicating medium risk [7]. - Alternatives to SCHX include the SPDR S&P 500 ETF (SPY) and the Vanguard S&P 500 ETF (VOO), which have larger asset bases and slightly different expense ratios [9]. Group 5: Investment Appeal - Passively managed ETFs like SCHX are gaining popularity among both institutional and retail investors due to their low costs, transparency, and tax efficiency, making them suitable for long-term investment strategies [10].

Core Insights - The Vanguard Extended Market ETF (VXF) is designed to provide broad exposure to the Mid Cap Blend segment of the US equity market, with assets exceeding $22.36 billion, making it one of the larger ETFs in this category [1] Group 1: Mid Cap Blend Characteristics - Mid cap companies have market capitalizations between $2 billion and $10 billion, offering a balance of stability and growth potential compared to large and small cap companies [2] - Blend ETFs hold a mix of growth and value stocks, exhibiting characteristics of both types of equities [2] Group 2: Cost Structure - VXF has an annual operating expense ratio of 0.05%, positioning it as one of the cheaper options in the ETF space [3] - The ETF has a 12-month trailing dividend yield of 1.14% [3] Group 3: Sector Exposure and Holdings - The ETF's largest allocation is to the Information Technology sector, comprising about 19% of the portfolio, followed by Industrials and Financials [4] - Individual holdings include Slcmt1142 at approximately 2.01% of total assets, with Microstrategy Inc (MSTR) and Applovin Corp (APP) also notable [5] Group 4: Performance Metrics - VXF aims to match the performance of the S&P Completion Index, with a year-to-date return of approximately 2.53% and a 12-month return of about 12.22% as of August 4, 2025 [6] - The ETF has traded between $150.43 and $207.15 over the past 52 weeks [6] Group 5: Risk Assessment - VXF has a beta of 1.17 and a standard deviation of 21.74% over the trailing three-year period, categorizing it as a medium risk investment [7] - The ETF holds about 3,383 assets, effectively diversifying company-specific risk [7] Group 6: Alternatives - VXF carries a Zacks ETF Rank of 3 (Hold), indicating it is a reasonable option for investors seeking exposure to the Mid Cap Blend market segment [8] - Alternatives include the Vanguard Mid-Cap ETF (VO) with $84.02 billion in assets and an expense ratio of 0.04%, and the iShares Core S&P Mid-Cap ETF (IJH) with $95.08 billion in assets and a 0.05% expense ratio [9] Group 7: Market Trends - Passively managed ETFs are gaining popularity among both institutional and retail investors due to their low cost, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [10]