Mostly yes, but sometimes no.
Let us explain…
Our large-cap strategies (i.e. Dividend, Large Cap Core, or Large Cap Aggressive Growth) invest exclusively (to the extent possible) in individual stocks. Some of our strategies include ETFs, which are utilized inside of our fixed income strategy (using a laddered corporate bond strategy), our international strategy (to get exposure to certain countries) and Hedged Equity (to access idiosyncratic risk/return exposures and maintain a higher resilience to diverse market conditions).
Additionally, our index-based portfolios use ETFs to ensure broad exposure to multiple asset classes, which provide diversification within each strategy and for the overall portfolio.
