Elm Wealth

Officially live on NYSE ARCA: Elm Market Navigator ETF (ticker: ELM) Elm starts with a 75% equity / 25% fixed income baseline and dynamically invests across broad market ETFs based on expected returns and risk-–a strategy you may already recognize from Elm Separately Managed Accounts. For additional information and disclosures, please see www.elmfunds.com

We're pleased to share that the Elm Market Navigator ETF (NYSE: ELM) has surpassed $500 million in assets under management. Launched in February 2025, ELM has become one of the fastest-growing allocation ETFs of the year. ELM's Dynamic Index Investing® approach provides systematic, transparent exposure to US Equities, Global Equities, and Fixed Income--all at a net expense ratio that is less than half of comparable Global Allocation funds. Thank you to the investors and advisors who have made this milestone possible! AUM as of 11/12/2025. Learn more at elmfunds.com

How Much Happiness Does Money Actually Buy? What's the right balance between risky stocks and safe fixed income? If you're like us, you're endlessly fascinated by the delicate interplay between risk and wealth. That's why we were delighted to see often overlooked ideas of bet-sizing and the Merton share being articulated so clearly and accessibly in a recent piece in The Economist Link in the comments below:

Here's a question that stresses most of us out: When is a good time to put more money into the stock market? We dug into the data and found that over the past 75 years, the market was either near all-time highs (which feels risky) or heading downward (which feels worse) about 85% of the time. That leaves only 15% of "comfortable" periods when it actually felt safe to invest. But there's a better way to think about this. Instead of focusing on how the market feels, we looked at when stocks offered attractive returns relative to safe assets. Turns out, that happened about 70% of the time. Check out the full note in the link below:

Conventional wisdom says don't convert your traditional IRA to a Roth if you expect lower tax rates in retirement. But what if that wisdom is missing something big? We teamed up with Yale Professor Barry Nalebuff to crunch the numbers and uncovered some counterintuitive Roth conversion benefits that most investors overlook entirely. The eye-opening results might change how you think about this decision. Link the comments below

Every quarter, we update our long-term expected return estimates for US and Global Equity markets to help with your asset allocation decisions.