Hedge fund-replicating ETFs and mutual funds can provide investors with similar return characteristics at a much lower cost, says Index IQ's Adam Patti.
In an exclusive interview with Morningstar, hedge fund manager Cliff Asness of AQR Capital discusses what prompted his scathing letter criticizing Obama's harsh words for hedge funds over the Chrysler bankruptcy.
By breaking down hedge fund returns into various factors, new ETFs can replicate returns at a lower cost and with greater liquidity, says ProShares' Joanne Hill.