Today's Animal Spirits Talk Your Book is presented by InvestGo.

Go to InvestCO.com slash EDFs if you want to learn more.

Welcome to Animal Spirits, the podcast that takes a completely different look at markets and investing, hosted

by Michael Batnik and Ben Carlson, two guys who study the markets as a passion and invest

for all the right reasons.

Michael Batnik and Ben Carlson work for Rit Holt's wealth management.

All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions

and do not reflect the opinion of Ritt Holt's wealth management.

This podcast is for informational purposes only and should not be relied upon for investment decisions.

Clients of Ritt Holt's wealth management may maintain positions in the securities discussed in this

podcast.

So today we're going to talk about InvestCO's S&P 500 low volatility ETF, ticker SPLV.

And I was pretty surprised to learn that the two biggest

symbols or the two biggest products on this name only have 30 billion dollars

and for some context IWM the the Russell 2008F has 42 billion dollars. And again, these are large cap names with 30 billion dollars in it as opposed to the Russell 2000 with which 42 in it.

I would love to know what the impetus was for starting these funds because the three biggest

funds in the space, two of them from I shares, one of them from an Avesco all came out in 2011.

I think Invesco moved first. Yeah, think they were but and then the other ones followed along I guess but it's interesting because doing some research on the low volatility anomaly. It's interesting some some places call it a factor others called an anomaly I think low

volatility is called an anomaly and the the main idea for those who don't

understand is the fact that finance theory would tell you that risk and reward are attached to the hip.

So therefore, a lot of academics use volatility as their main way to measure risk.

And so you would think higher risk, therefore higher volatility would lead to higher returns,

...