It has been a longstanding claim that firms are staying private for longer, reducing the number of public companies—and investors’ chances of benefiting from early company growth. But is that true? To find out, we analyzed initial public offering (IPO) and public company data from 2003 to 2024.

In this edition of ETF Industry Perspectives, we focus on why Indian equities may appeal to investors, as well as some of the risks associated with this market. We also look at why investors might want to consider bond ETFs in their portfolios as an alternative to cash.

Though it has fallen well below its pandemic-era peaks, the nominal pace of U.S. wage growth remains strong, at about 4%. Yet wage growth does not appear to be an impediment to inflation returning to the Federal Reserve’s 2% target. That’s because productivity gains have risen toward historical highs, also around 4%.

As macroeconomics continue to weigh on dealmaking, secondary markets offer a bright spot.