It took 15 years for an ideal environment to arrive for alternative exchange-traded funds—which employ or mimic hedge fund strategies—but their moment has finally come. They’ve grown assets by 25% this year as investors look for something to help offset the decline of 60/40 portfolios.

To truly understand how they work and what they track, however, requires a lot of due diligence.

On this episode of Trillions, we speak with senior reporter Katherine Burton, Andrew Beer, managing partner and portfolio manager at Dynamic Beta, and Bob Elliott, co-founder and chief executive of Unlimited. We discuss why hedge fund ETFs could be the next big thing, how they work and how to use them in a portfolio.