The Importance of Diversified ETFs

An S&P 499 ETF that would exclude the car company, which I'm assuming he's obviously referring to Tesla. This is the great use case for direct indexing. Usually it's because an advisor has a high nut worth or more likely an ultra high net worth client who has massive exposure to a single company. But again, I don't think we're headed for a world where we're going to have a 50 state list of these things.