Good interview in Barrons with Tom Hancock of QLTY. David has highlighted this fund recently. He is not a fan of NVDA or TSLA due to valuation concerns but does hold positions in the other Mag 7. Interesting that he has been able to keep pace with SPY since launch even without NVDA. The OEF version of this fund has outperformed SPY over the long term.
https://www.barrons.com/articles/investing-jeremy-grantham-quality-etf-nvidia-tesla-stock-1377e79f
Some key excerpts:
“So what else do Hancock and his team at GMO like? Hancock does believe in AI. He just thinks that there are better, more affordable ways to play the trend, such as Microsoft, which has an investment in Sam Altman’s ChatGPT creator, OpenAI; the cloud software company Salesforce.com; and Accenture, the consulting firm. The GMO U.S. Quality ETF  also owns Oracle and the chip-equipment manufacturers KLA and Lam Research”
It isn’t all about tech. Hancock said consumer staples and healthcare are also top areas of focus.
Quality value is about more than cyclicals,” Hancock said. “The differentiation for us is that we hold both growth and value stocks. It’s good for diversification.” To that end, the ETF also has big positions in more defensively oriented stocks, such as Coca-Cola, Procter & Gamble, UnitedHealth, Johnson & Johnson, and GE Aerospace.

CPI Figures Tee Up September Move for Central Bank
Cooler than expected inflation in July prompted traders to lower the odds of the Federal Reserve cutting interest rates by a half point in September. But Wednesday’s inflation news did clear the runway for the Fed to begin cutting rates, and the size of the September move could depend on labor market data yet to come.
Traders are pricing in a 37% probability that the Fed lowers rates by a half-point after its meeting next month, according to the CME FedWatch tool. The probability was greater than 50% just a day earlier and even higher one week ago. The tool sees a 63% chance of a quarter-point cut.
The Fed might not stop there. Traders expect additional cuts at the two other meetings this year, putting a 44% probability on the Fed cutting rates by a whole percentage point by the end of the year. That implies two additional quarter-point cuts if the September cut is a half-point.
July’s consumer price index rose 2.9% from a year ago, slower than the 3% gain expected. Core inflation not counting food and fuel rose 3.2%. The cost of housing accounted for 90% of the increase in consumer inflation last month.
A broad array of products and services showed price drops, including airfares, down 1.6% from June, men’s suits, sport coats, and outerwear, down 4.2%, and used cars and trucks, down 2.3%. Prices for video and videogame rentals and subscriptions rose 7.6%, while hot dogs rose 4.4%.
What’s Next: The Social Security cost-of-living adjustment for 2025 could shrink to 2.6% from this year’s 3.2% increase, according to Mary Johnson, an independent Social Security and Medicare analyst and former analyst with the Senior Citizens League. In July she forecast adjustment to be a 2.7% increase.

“Yes, I take all my investment direction from various message board postings at MFO. Works like a charm.”

"Is this a buy and forget fund, as I am looking for one? If this is not a buy and forget fund, what purpose does this fund serve in a portfolio?

I subscribe to a newsletter that publishes a “recommended portfolio” consisting of 10 index funds

..... T Rowe Price (like TRRIX) typically invest in 15-25 other funds. What do you know that these managers don’t?