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Is This a Threat to ETFs and Mutual Funds?
I think if you narrow to taxible invest s, where the underlying strategy that's being designed or implemented a has an annual turnover of 20 or 25 % or less, that this is a huge threat to e t f. He in my mind, there's really no reason, especially as costs continue to fall. And it's not like they're that far apart anyway. You know, our lowest prices 20 basis points to day. So that additional, let's call it ten basis points that we might down to over the next ten years,. i mean, compound ten basis points over times, not a huge difference.