 Dear Reader, The stock market just entered a highly dangerous new phase – which is going to have dramatic consequences for your money this summer. The signs are everywhere: SpaceX just went public. OpenAI and Anthropic will likely follow it. If you're thinking of buying into any of these IPOs... PLEASE DON'T. They're likely to be disasters – the most overhyped, overvalued large-cap stocks of all time, foisted on gullible investors by Wall Street insiders. At the same time, the President and his family are openly picking winners in the stock market... while a 24-year-old just founded his own hedge fund and made $5 billion in less than a year. But it's what's coming NEXT that I'm most worried about. I've spent 30 years on Wall Street. I have my MBA from Harvard and spend my time in correspondence with billionaires like Warren Buffett and Bill Ackman. I've forecast the collapse of dozens of stocks. But what I see happening today scares me – as a former money manager, as a father, and as an American. Because our country is headed toward an economic event unlike anything we've seen in over 100 years. Perhaps you see the signs too. Or maybe you just feel it – that creeping, nagging doubt that tells you something is dangerously wrong in our country. If that's you, I'd urge you... listen to your gut. If you care about your wealth, your family, and your future, you need to understand what's really coming. I've put together a free analysis explaining exactly what I see, and the specific steps I recommend you take with your money today. I strongly encourage you to check it out here. Regards, Whitney Tilson
Editor, Stansberry Investment Advisory
Former Hedge Fund Manager
Co-Founder, Teach for America
Harvard MBA P.S. What's happening today will reset the financial system in a way most of us can't imagine. If I'm even half-right, it's going to have a huge impact on your money and your future. Get the details here...
This Month's Featured News
Trump Accounts: Comparing the 5 Selected Low-Cost Index ETFsWritten by Jessica Mitacek. Posted: 7/16/2026. 
Key Points
- Trump Accounts, launched on July 4, offer tax-advantaged investing for children under 18, with $1,000 in government funding for babies born between 2025 and 2028.
- The U.S. Treasury released a list of five low-cost index funds selected for eligibility, with the State Street SPDR Portfolio S&P 500 ETF as the default option at launch.
- The five selected ETFs include SPYM, IVV, VTI, SPTM, and ITOT, which differ in diversification, expense ratios, dividend yields, and levels of institutional ownership.
- Special Report: This tiny piece of glass could be bigger than GPUs
No matter where your political beliefs or values fall on the aisle, one thing most Americans can agree on is that the country is firmly in an affordability crisis. From a lopsided housing market and elevated used car prices to college tuition and higher energy prices fueling inflation, prices for everyday essentials and wealth-building milestones are near all-time highs. To help younger generations address that problem, the Trump administration announced in December 2025 that it was establishing Trump Accounts—tax-advantaged investment vehicles for U.S. children under the age of 18.
Officially launched on July 4, the accounts offer government funding of $1,000 for eligible babies born between 2025 and 2028, with up to $5,000 in additional funding from family and friends permitted each year. The idea behind the accounts is to give eligible children a head start. On July 1, the U.S. Treasury Department released its list of low-cost index funds that plan participants can choose from. While the State Street SPDR Portfolio S&P 500 ETF (NYSEARCA: SPYM) is currently the default investment in Trump Accounts at launch, the Treasury intends to add four additional funds to its list of offerings in the coming months. State Street’s Ultra-Low-Cost S&P 500 ETFFormerly trading under the ticker SPLG, SPYM is a passively managed fund that tracks the S&P 500. At just 0.02%, it features one of the lowest expense ratios on the market. A hypothetical $50,000 invested in SPYM would generate just $10 in annual fees. The fund invests primarily in mega- and large-cap U.S. equities. As it mirrors the S&P 500, it has gained more than 10% this year and more than 20% over the trailing year. Like the index itself, SPYM’s portfolio is heavily tilted toward tech names, including the Magnificent Seven and AI stocks such as Broadcom (NASDAQ: AVGO) and Micron Technology (NASDAQ: MU). Because of that, the fund is expected to outperform weighted benchmarks during rallies and underperform during pullbacks and corrections due to its elevated tech exposure. iShares’ S&P 500 Low-Cost Fund Offers Appealing YieldThe iShares Core S&P 500 ETF (NYSEARCA: IVV) is comparable to SPYM in that it is passively managed, utilizes weighted tracking of the S&P 500, and has a very low expense ratio—its 0.03% is only marginally higher than SPYM's. As a result, the ETF has performed almost identically year to date and over the past 12 months, while its holdings are nearly indistinguishable from SPYM’s list. With nearly $890 billion in assets under management (AUM), IVV is the largest fund eligible for Trump Accounts. One way the fund differentiates itself is through its dividend, which yields 1.08%—or $8.18 per share annually—compared to SPYM’s dividend yield of 1.03%. The ETF is also popular among the smart money. Current institutional ownership stands at more than 70%. Vanguard’s Holistic U.S. Stock Market ETFWhereas the first two options limit exposure to the 500 largest publicly listed U.S. companies, the Vanguard Total Stock Market ETF (NYSEARCA: VTI) tracks the CRSP US Total Market Index, which represents approximately 100% of the investable U.S. equity market. In doing so, the fund provides markedly superior diversification with just shy of 3,500 holdings. However, because it is market-weighted, there is still a bias toward tech, which accounts for nearly 36% of the portfolio, with 16% exposure allocated to the semiconductor industry. At 1.05%, VTI’s dividend yield falls between SPYM’s and IVV’s and pays $3.90 per share annually. But in the era of thematic ETFs, VTI’s broad exposure has led to below-average institutional ownership of just 28.92%. State Street’s Broad-Based, Well-Balanced Composite FundWith more than 1,500 holdings, the SPDR Portfolio S&P 1500 Composite Stock Market ETF (NYSEARCA: SPTM) provides stronger diversification than SPYM and IVV without tracking the total U.S. market index like VTI. The fund’s dividend yields 1.05%, or 96 cents per share annually, and its expense ratio of 0.03% is in line with the other ETFs on this list. But with less than $14 billion in AUM, SPTM is the smallest fund among these five options. Where SPTM stands out is in its broader market-cap exposure. By combining large-, mid-, and small-cap U.S. stocks, the fund offers greater diversification than SPYM and IVV, although its sector mix remains similar to that of other broad-market funds. Technology still accounts for nearly 36% of the portfolio, followed by financials at nearly 13%, consumer discretionary at 10%, and communication services and industrials, both around 9%. iShares’ Total Market OfferingThe iShares Core S&P Total U.S. Stock Market ETF (NYSEARCA: ITOT) offers broader diversification than SPYM and IVV, as it tracks the S&P Total Market Index, which provides exposure to U.S. stocks across market-cap segments. With nearly 2,500 companies in its portfolio, ITOT offers a more balanced sector approach with allocations similar to SPTM. However, its dividend yields just 0.99%—the lowest of all five options eligible for Trump Accounts—and institutional ownership has seen nearly as much selling as buying over the past 12 months, with just over $801 million in inflows versus nearly $737 million in outflows.
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