Rich Lee, Baird’s Head of Program Trading, recently discussed ETF mechanics on “The ETF Prime Podcast.” He also shared perspective on the important role authorized participants like Baird play in the ETF ecosystem.

Listen to the interview.

Any discussion of specific ETFs or stocks during this interview were made merely to illustrate how ETFs are constructed and how they operate in the markets and should not be regarded as a recommendation to buy or sell these investments.

Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. This and other information can be found in the prospectus or summary prospectus. A prospectus or summary prospectus may be obtained by contacting your Financial Advisor. Please read the prospectus or summary prospectus carefully before investing.