The ETF universe keeps getting bigger - and weirder. This year is already on pace to shatter records for launches and inflows; it's also producing some of the most niche, speculative and oddly specific funds the industry has ever seen. From leveraged bets on obscure semiconductor firms to thematic products targeting everything from lithography to nicotine, the race to capture investor attention is officially in overdrive.

In this "ETFs to Watch" episode, Eric Balchunas and Joel Weber are joined by Isabelle Lee, a cross-asset reporter with Bloomberg News, to break down a few new launches fighting for investor attention. They discuss Defiance's POET ETF (ticker POEL); Corgi's lithography and photonics fund (ticker EUV); Hexis's nicotine-focused ETF (ticker NICO); and Roundhill's "real world assets" HALO strategy (ticker LOHA). Along the way they make some detours to discuss leveraged IPO mania, Reddit skeptics, and, well, corgis.

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What if you invested at literally the worst possible moments in market history? According to Ben Carlson, the co-host of the Animal Spirits podcast and an advisor at Ritholtz Wealth Management, even the world's worst market timer could still become a millionaire. Carlson's new book, Risk & Reward, explores why long-term investing remains so psychologically difficult.

On this episode of Trillions, Eric Balchunas and Joel Weber speak with Carlson about his new book, which implores you to stop panicking and just stay the course. They discuss the genius of boring index funds, "fun accounts" as a behavioral release valve, whether buffer ETFs are financial Xanax and how the ETF wrapper may help turn tax efficiency into the new alpha. They also drill into Carlson's other big launch: Goaltender (GTND), a new ETF from Ritholtz, and go over why wealth managers are becoming ETF issuers.

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A long-dormant trade is suddenly showing signs of life. Prices are climbing. Volumes are spiking. And in a corner of the market that’s spent years in the doldrums, one ETF is catching a fresh buzz — thanks in part to the US Justice Department’s move in April to reclassify medical marijuana as a less dangerous drug.

On this episode of Trillions, Eric Balchunas and Joel Weber debut a new monthly segment spotlighting an ETF that’s having a moment. This time, Bloomberg Intelligence’s Andre Yapp joins to break down the AdvisorShares Pure US Cannabis ETF (MSOS). The only cannabis-focused ETF with more than $1 billion in assets, it uses swaps to access marijuana companies just as shifting tax rules begin to ease the industry’s burden. The setup looks promising—but is this a real turning point, or just another short-lived high?

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