10 Investment Must Reads for Week of July 7, 2026

ETF Inflows Top $1Trillion at the Halfway Point of 2026 “Investors poured $210 billion into US-listed ETFs in June, pushing year-to-date inflows past $1 trillion and putting 2026 on track for a $2 trillion haul if the current pace holds. US equity ETFs did most of the heavy lifting for the month, taking in $103 billion. Fixed income funds followed with $46 billion, international equity ETFs added $37 billion, and leveraged products picked up $15 billion. The two categories in the red were commodities, which lost $6 billion, and currency ETFs, which shed $4.6 billion.” (ETF.com)

Fidelity Debuts its First ETF Share Classes “It’s been a long time coming for the asset management world, but ETF share classes are now a reality. Fidelity Investments has joined that movement, with the launch of its first ETF share classes for some of its mutual funds. The firm announced the move Monday, with three ETF share classes available on June 18, 2026. The move makes Fidelity Investments the fifth firm to add ETF share classes for their mutual funds. The firm has a massive $17.9 trillion in assets under administration. The trio includes the Fidelity Intermediate Municipal Income ETF (FIMU) and the Fidelity Real Estate Income ETF (FREI). It also includes the Fidelity Short-Term Bond ETF (FSTB).” (ETF Trends)

Will the U.S. Dollar Rally Continue? “The US Dollar Index, which measures the value of the greenback against the world’s six most traded currencies, has risen 3% since the start of the year and 5% since late January, reaching a 13-month high of 101.8 in late June. The rally marks a sharp reversal from the first half of 2025, when the dollar recorded its weakest first-half performance in more than 50 years.” (Morningstar)

Lessons on the 60/40 Model from 2022 “The entire logic of the 60/40 portfolio rests on a key assumption: that equities and government bonds are negatively correlated. When equities fall, bonds rise. The bond allocation acts as ballast, smoothing out the ride. However, suspicions should have perhaps been raised when, in a low and falling inflation environment, bonds and equities rose in value at the same time. The correlation is not a law of nature. It is a condition.” (Financial Times)

Non-Traded BDCs Return Nearly $5.9B to Investors in Q2, More Than $12.7B Year-to-Date “With approximately 99% of the market reporting, nontraded net asset value business development company sponsors have delivered nearly $5.9 billion in liquidity to investors in the second quarter ended June 30, 2026, which the Robert A. Stanger & Co., Inc., said demonstrates the resilience of the semi-liquid vehicle structure even in the face of historically elevated redemption demand. According to Stanger year-to-date, total redemptions met by NAV BDCs have exceeded $12.7 billion.” (AltsWire)

Industrial Appeal to Private Equity; U.S. Healthcare Facility Investment Spikes “A strong start to the year has private equity investment in the global industrial sector on pace for a multiyear high in 2026. The announced value of private equity and venture capital investment in the sector totaled US$82.06 billion as of May 31, compared with a full-year total of US$140.99 billion in 2025, according to S&P Global Market Intelligence data. If the pace of investment continues through the second half, annual investment value would rise to its highest mark in at least six years.” (S&P Global)

After the Latest AI Stock Rally, Investors Face a Reality Check “Whatever your views on AI, the US stock market’s heightened dependence on it raises risks. Concentration has increased. At 37.5% as of May 31, 2026, technology stocks’ share of the US stock market now surpasses levels seen during the late 1990s internet bubble. This does not count Alphabet and Meta, which are classified in the communication-services sector, or Amazon.com, considered a consumer cyclical. All are heavily involved in AI.” (Morningstar)

Blue Owl BDCs Hit by $4.7B in Redemption Requests as Demand Eases “Blue Owl Capital Inc.’s two nontraded business development companies together fielded $4.7 billion in investor tender requests in the second quarter, even as demand eased from the first quarter at both funds. The technology-focused fund’s redemption rate remained more than double that of its larger, diversified sibling. Blue Owl Credit Income Corp., known as OCIC, accounted for the bulk of that demand, receiving repurchase requests for 18.8% of shares outstanding as of March 31 – $3.6 billion –  down from 21.9%, or $4.2 billion, in the first quarter, a decline of $600 million, or 14%, quarter over quarter.” (AltsWire)

Dimensional Launches MPS with Own Funds “Dimensional Fund Advisors has launched a discretionary managed portfolio service (MPS). All models in the MPS will only use Dimensional’s funds. There are 12 allocation options ranging from 100% equity to 100% fixed income in 20% increments, available via Transact. Six are ‘core models’ with modest outperformance expectations. The other six are ‘core plus models’ and target a higher outperformance, with a higher tracking error against the market.” (Portfolio Adviser)