The Trump administration is preparing an executive order that would allow 401(k) retirement plans to invest in private equity, a move expected to benefit asset managers seeking access to the $12.5 trillion defined-contribution market. The directive, still under discussion, would build on prior efforts during Trump’s first term to integrate private equity into retirement portfolios, previously limited by legal and fiduciary concerns. 

Currently, most 401(k) investments are concentrated in traditional stocks and bonds, as plan administrators have been cautious about incorporating complex and illiquid assets. 

However, critics warn that such a shift could increase fees and risks for savers while exposing plan sponsors to potential lawsuits. The executive order, if signed, would mark a significant change in U.S. retirement policy and potentially reshape how Americans build wealth for retirement.

Finsum: Private equity could offer retirement savers higher long-term returns and a broader array of investment options, particularly as the number of public companies continues to shrink.

Vanguard has broadened its fixed-income ETF lineup with the introduction of three new funds, each tailored to meet different investor needs. The Vanguard Government Securities Active ETF (VGVT) is an actively managed strategy focused on U.S. government and agency bonds across various maturities, offering tactical flexibility at a modest 0.10% expense ratio. 

For investors preferring a passive approach, the Vanguard Total Treasury ETF (VTG) delivers broad exposure to the U.S. Treasury market, tracking a major benchmark index with an ultra-low 0.03% fee. Meanwhile, the Vanguard Total Inflation-Protected Securities ETF (VTP) targets those seeking protection from rising prices through TIPS, and carries a 0.05% expense ratio. 

These launches build on Vanguard’s growing fixed income suite, following the recent debut of its Multi-Sector Income Bond ETF (VGMS). 

Finsum: As demand for diversified, cost-effective bond solutions climbs, Vanguard continues to position itself as a go-to provider for both active and index-based fixed income strategies.

Gold-backed ETFs saw their biggest first-half inflow since early 2020, as investors flocked to the metal amid global trade tensions and economic uncertainty. According to the World Gold Council, physically backed gold ETFs attracted $38 billion in inflows from January to June 2025, lifting total holdings by 397.1 metric tons to 3,615.9 tons. 

This surge was largely driven by concerns over U.S. tariff policies under President Trump, prompting a shift toward safe-haven assets. U.S.-listed funds led with 206.8 tons added, while Asia-listed ETFs set a regional record with 104.3 tons—accounting for 28% of global flows despite managing just 9% of global gold ETF assets. 

The rebound follows modest inflows in 2024 and reverses a three-year trend of outflows tied to high interest rates. Spot gold prices have surged 26% this year, reaching an all-time high of $3,500 per ounce in April.

Finsum: Gold ETFs are a great way to get exposure and get an inflation hedge in case tariffs cause a spike. 

Debentures are long-term debt instruments that allow companies and governments to raise capital without pledging specific assets as collateral. These unsecured bonds appeal to investors seeking portfolio diversification and fixed income, though they carry risks tied to the issuer’s creditworthiness. 

While government-issued debentures are generally low-risk due to sovereign backing, corporate debentures rely on the company’s financial health and reputation, making credit ratings an essential consideration. 

There are various types: convertible debentures can later be exchanged for company stock, while nonconvertible ones cannot but typically offer higher interest rates; similarly, secured debentures are backed by company assets, whereas unsecured ones are not, increasing the investment risk but potentially offering higher yields. 

Finsum: While they provide regular income and reduced exposure to market volatility, investors must weigh those benefits against interest rate sensitivity and potential default risk.

Active ETFs have officially outnumbered their passive counterparts in the U.S. for the first time, with 2,069 listed funds as of mid-June. While passive ETFs still hold the lion’s share of assets under management, investor interest is clearly shifting—active strategies have attracted nearly 40% of total ETF inflows this year. 

Many investors are turning to active ETFs for more agile, hands-on approaches in navigating today’s unpredictable markets, particularly in fixed income and equity sectors. The SEC is also weighing changes that would allow mutual funds to launch ETF share classes, a move that could dramatically expand access to active strategies and boost tax efficiency. 

However, this flexibility may come at a cost for asset managers, as ETFs typically can't turn away new investors like closed mutual funds can, potentially limiting a manager's control over fund size and strategy execution. 

Finsum: With U.S. ETF assets reaching $11 trillion in May, these structural shifts could fuel continued growth and reshape the way investors access actively managed portfolios.