ADDITION BY SUBTRACTION: What happens when you take the MSCI EM Index and start kicking out autocratic countries with low freedom scores (eg China, Russia) and use that excess budget to load up on freer countries? You crush the benchmark. FRDM is beating EEM by double since launch and 3x in past year. ETF tripled to $2.6b this year. We spoke with PM @Perth_Tolle about it on the latest episode of Trillions. Check it out in link in the next tweet OR on Spotify et al.(Eric Balchunas)