In this episode, Mike Philbrick, CEO, ReSolve Asset Management (which jointly innovated Return Stacked Portfolio Solutions with Newfound Research) breaks down how systematic macro strategies can offer powerful diversification benefits—and how Return Stacked™ portfolios make it possible for investors to keep their traditional equity and bond allocations intact while layering on a return stream designed to thrive in challenging market environments. Mike and Pierre unpack the behavioral pitfalls of traditional diversification, the institutional roots of portable alpha, and how the RGBM ETF (Return Stacked™ Global Balanced & Macro ETF) helps solve the portfolio funding dilemma for Canadian investors.

Pierre Daillie and Mike Philbrick welcome Tony Dong—Lead ETF Analyst at ETF Central and founder of ETF Portfolio Blueprint— to the show to explore why investors may need to rethink their reliance on traditional portfolio diversifiers like long-term bonds. Dong pulls no punches, calling out the pitfalls of covered call ETFs, explaining how to think critically about buy-write strategies, and championing capital-efficient alternatives like return stacking, trend-following CTAs, and risk-managed overlays. The trio also dig into the strategic case for overlooked assets like Swiss equities and the Swiss franc, while sharing practical insights into investor behavior, rebalancing discipline, and building resilient portfolios in a stagflation-prone world. 🔖 Key Takeaways:

• Why blindly chasing high-yield covered call ETFs is a mistake
• The underrated power of trend-following as a crisis alpha tool
• How to use return stacking for smarter diversification
• Why Switzerland may be the ultimate geopolitical safe haven
• The behavioral traps investors fall into—and how to avoid them

00:00 – Tony Dong’s Risk-First Origin Story 03:45 – The Problem with Index-Based Covered Call ETFs 08:30 – Gold, Volatility, and Opportunistic Buy-Write Strategies 13:10 – QYLD: A Yield Trap in Disguise? 19:45 – When Bonds Fail: Gold and Trend as Alternatives 23:20 – Leveraging Diversification with Return Stacking 28:00 – Retail’s Dangerous Love Affair with Leveraged ETFs 31:40 – The Rise of Structured Protection: Put Spread Collars 36:20 – Why Low Vol and Min Vol May Be Broken Concepts 39:10 – Trend Following: The Case for Buying the Shop, Not the ETF 43:00 – Behavioral Risk and Staying the Course with Alternatives 47:30 – How to Rebalance for Real-World Portfolios 53:00 – Investor Psychology, Crisis Alpha, and Staying Invested 57:00 – The Case for Switzerland: Stability, Strength, and Sanity

Where to find Tony Dong

ETF Portfolio Blueprint - https://etfportfolioblueprint.com Tony Dong, Lead ETF Analyst, ETF Central - https://www.etfcentral.com/author/tony-dong

#InvestingStrategy #ETFs #TrendFollowing #ReturnStacking #PortfolioDiversification #CoveredCalls #QYLD #Alternatives #CapitalEfficient #Gold #BehavioralFinance #TonyDong #RaiseYourAverage

Canadian ETFs are booming—and behind the scenes, a quiet revolution is reshaping how advisors and investors build smarter, more efficient portfolios. In this episode, ETF industry leader Ronald Landry, Vice President, Head of Segment Solutions and Canadian ETF Services at CIBC Mellon joins us to explore what’s driving record ETF flows, the rise of covered calls and liquid alts, the accelerating evolution of Canada's ETF landscape, and the policy shifts that could transform the advisory business in 2025 and beyond. Landry shares over 30 years of industry insight, covering everything from:

• The two-year boom in covered call ETFs—and why yield remains king
• How alternative strategies are finally gaining traction after years of slow adoption
• New ETF-wrapped solutions making it easier than ever for advisors to close portfolio gaps
• The regulatory innovations (like total cost reporting and ticker rule proposals) that could reshape the advisor-client conversation
• Why Canada continues to lead global ETF innovation—and what the US is learning from our market

00:00 – The ETF Boom: Why 2025 Is Already One for the Record Books 02:00 – 30 Years of Insight: Ron Landry’s Unlikely Path to ETF Leadership 04:00 – Markets in Transition: What Record Q1 Flows Are Really Telling Us 08:00 – Central Banks in a Bind: Rates, Tariffs, and the Inflation Puzzle 09:30 – Single Stock ETFs, CDRs, and the Quest for Yield in Canada 12:00 – Built for Canadians: Why Homegrown ETFs Are Winning 14:00 – Crypto, Covered Calls, and the Real Drivers of Demand 16:00 – Alternatives Accelerating: The 53% Growth Story You Missed 19:00 – Advisors' Dilemma: Explaining Line Item Risk in a 60/40 World 21:00 – Regulation as Catalyst: CSA Reviews, Cost Transparency, and Ticker Labels 24:00 – From 6% to 20%: Canada’s ETF Market Is on a Tear 26:00 – The Rise of Dual-Structure Funds: ETF and Mutual Fund Hybrids 27:00 – Canada: The Quiet Giant of ETF Innovation 29:00 – One Rulebook to Rule Them All: The Secret to Canada’s ETF Advantage #ETFs #CanadianETFs #InvestingCanada #FinancialAdvisors #CoveredCalls #LiquidAlts #ETFInnovation #CIBCMellon #RonLandry #WealthManagement #PortfolioConstruction #FinancePodcast #InvestmentStrategies #YieldHunting