The PDF version of the February issue of ETFInvestor is now available for download.

If the link above doesn’t work, you can download this month's issue by copying this address into your browser: http://etf.morningstar.com/Newsletter.aspx?download=currentIssue

The market is in the middle of a manic episode. Anecdotal evidence is easy to come by. Meme stocks are being featured on the nightly news, Elon Musk is buying bitcoin, and my kids are asking me about cannabis ETFs (I’m joking about that last one). In this month’s feature article, I survey the mania, put it into historical perspective, revisit those pesky things called fundamentals, and share my thoughts on what investors should do when the market seems to have lost its mind.

Here’s a rundown of what else you’ll find in this month’s issue:     

• Is the best defense a good offense? This month’s look at the Defensive portfolio features a cautiously contrarian variant of the original.
• Spotlights on Schwab Fundamental US Large Company ETF FNDX and VanEck Fallen Angel ETF ANGL
• A look at the value in expressing dissenting views and some funds that take different paths to disagreeing with Mr. Market
• An overview of the Morningstar Price/Fair Value ratio for ETFs, which includes a peek at which ETFs were trading cheap and dear at the end of January.

Ben