Item — HN Reader

Not to mention:

That’s the dirty secret of the ETF industry. All of the innovation has led to a lot of failure... The bottom line: Most ETFs live in oblivion.

Like many other areas, you tend to only hear about the success stories, and are unaware of the scale of the non-successes.

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From the article

> 81% of funds account for 2.4% of dollar volume.

So the top 20% see 97.6% of all trading, probably with the top 10% seeing 90% or so. The ETF industry is a bit more brutal than the 80/20 rule of thumb.