SPDR Bridgewater All Weather ETF

ALLW

Market cap $425M

October weather in New York has been confusing. One weekend, it was a sunny 80 degrees, and I was in shorts.

I rarely know what I'm doing next week, but I can tell you exactly where I'll be in six months. On March 16, 2026, you will find me at the Exchange conference.

I rate ALLW a hold due to its high expense ratio and straightforward allocation, despite its diversified, global, multi-asset approach. ALLW uses leverage and includes significant non-US assets, which could outperform in volatile macro environments or a weaker dollar scenario. The fund has underperformed low-cost alternatives like AOR and may lag if US mega-cap tech stocks continue to lead the market.

On this week's episode of ETF Prime, Roxanna Islam, Head of Sector & Industry Research at VettaFi, discusses the latest updates in crypto ETFs. Later, Matt Bartolini, Head of Americas ETF Research at State Street Global Advisors, shares insights on recent market trends and SPDR ETFs.

Ray Dalio is a legend in the investing world. He founded Bridgewater Associates in 1975, one of the largest traditional hedge funds, managing close to $172 billion in assets.

Anna Paglia joined State Street Global Advisors almost 18 months ago as executive vice president and chief business officer.

Through the middle of last week - still with a handful of days left in the quarter - 208 new U.S. ETFs were launched in Q1. According to a March Brown Brothers Harriman survey, 95% of investors plan to increase their ETF allocations in the next 12 months. It would not be surprising to see new twists on ESG - climate change, equality, and the state of corporate leadership are issues that could be top of mind going forward.

A week has passed since the Exchange conference kicked off. More than 1,500 people joined VettaFi on site in Las Vegas for education, networking and more.

The ALLW ETF provides retail investors access to Bridgewater's "All Weather" strategy, but significant leverage and high costs are notable drawbacks. The strategy's past success was largely due to a multi-decade bull market in bonds, which is unlikely to repeat. Elevated costs, including an 85 bps expense ratio and indirect fees, make the ETF expensive.

The advent of ETFs has prompted asset managers to push the boundaries of what's possible for the average retail investor to gain exposure to.