The Next Generation ETF Student Managed Investment Program

Jerry Lloyd Stevens

Abstract


ABSTRACT

Exchange traded funds (ETFs) are well suited for trading in student managed investment funds (SMIFs).  Unlike other forms of security selection, ETFs provide efficient trading of portfolios by asset classes, sub classes, investment styles, countries, regions, and sectors.  The learning experience from trading ETFs based on global macroeconomic themes enhances the learning experience of economics students by requiring application of macroeconomics, industrial organization, international economics, and econometrics.  This paper presents the structure, tools, and results of a studemt ETF trading program implemented by the economics and finance departments at the University of Richmond.  While we use the ETF SMIF as a learning medium for undergraduates, the investment process with ETFs is also well suited to small individual investors.


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