Core Insights - Advisor interest is shifting towards traditional hedges and quality-oriented products as the macro environment changes [1] - VanEck Gold Miners ETF (GDX) has seen significant growth, with assets under management reaching $34 billion and a one-year return of 164.7% [1] - Thematic products like the VanEck Bitcoin ETF (HODL) and VanEck Semiconductor ETF (SMH) are gaining traction, with SMH being the largest semiconductor ETF at over $44 billion in assets [1] Group 1: Gold and Fixed Income - GDX has continued to attract robust flows following a strong 2025, where spot gold increased over 50% [1] - The VanEck J. P. Morgan EM Local Currency Bond ETF (EMLC), VanEck High Yield Muni ETF (HYD), and VanEck CLO ETF (CLOI) are experiencing considerable investor interest, reflecting a search for yield and diversification [1] - CLOI benefits from a higher-for-longer rate environment, which helps mitigate duration risk for conservative portfolios [1] Group 2: Thematic Investments - The VanEck Bitcoin ETF (HODL) is gaining strength as bitcoin miners focus on AI data center buildout, aligning with trends in the semiconductor sector [1] - SMH has achieved a one-year return of 77.8%, capitalizing on the operational leverage of semiconductor companies [1] - VanEck CEO Jan van Eck will discuss the evolving ETF industry and investment styles at the upcoming Exchange conference [1]