Ryan Krystopowicz, CFA

ETF Model Portfolios @WisdomTreeFunds | Golf & Darts |

[Ryan Krystopowicz, CFA @ryankETFmodels]

Think your model is balanced?

So did this advisor—until we looked under the hood.

A recent portfolio we reviewed used several asset allocation funds.

Simple? Yes.

But also heavily over-weight in lower-quality credit—far from what the advisor intended.

This is where simplicity can backfire.

Blended doesn’t always mean balanced.

In our latest Modern Advisor Playbook, Lauren Pfendt & I walk through how sleeve-level analysis revealed the risk, how we helped realign the model—and how our fixed income toolkit brought the strategy back in sync with client goals.

👉 Advisors: if your model hasn’t had a check-up lately, now’s the time.

https://t.co/e4YLcqHPOy

[WisdomTree @WisdomTreeFunds]

Portfolio construction goes beyond selecting investments.

Join us October 15 at 2 PM ET for the Third Annual WisdomTree Portfolio Solutions Summit, covering whole-portfolio solutions, market perspectives, portfolio positioning and emerging investment opportunities.

https://t.co/hIdlK84Trn

[WisdomTree @WisdomTreeFunds]

Today at 1PM ET: How can advisors use models & customization to better align portfolios with client priorities?

Join Kara Dombroski, @ryankETFmodels & Lauren Pfendt for an @RIAChannel discussion on unintended risks, model oversight & outside CIO support.

+1 CFP, IWI or CFA CE credit

👉 Register now: https://t.co/VIcmKB2HHi

[WisdomTree @WisdomTreeFunds]

Advisors outsourcing at least 20% of assets reported saving 9.1 hours a week.

@ryankETFmodels examines how to turn reclaimed capacity into client value.

Explore his four-step framework: https://t.co/GjbfaZkPYp

#FinancialAdvisors #ModelPortfolios

[WisdomTree @WisdomTreeFunds]

Customization and investment discipline don't have to compete. Taxes, legacy positions and implementation constraints can shape a portfolio.

@ryankETFmodels and Andrew Okrongly examine how open architecture and flexible implementation can help advisors navigate those needs while keeping investor objectives in focus.

https://t.co/bbMdEKvtwC

#PortfolioConstruction #AssetAllocation

[Ryan Krystopowicz, CFA @ryankETFmodels]

My latest blog is live: “The Advisor’s Front Door Has Moved Online.”

Referrals still matter—but today, prospects are often validating advisors online before ever reaching out.

A few thoughts on why your digital presence may be more important than ever.

https://t.co/OYiXfXIvPm

[WisdomTree @WisdomTreeFunds]

Scaling model portfolios efficiently requires more than investment expertise, it requires operational execution.

@ryankETFmodels explores how WisdomTree and Quorus can help advisors streamline implementation through outsourced trading, rebalancing and tax-aware execution.

Read more: https://t.co/1zJDrdriHh

[WisdomTree @WisdomTreeFunds]

Customization and tax efficiency are now expected, but scaling both across portfolios isn’t easy. How can advisors deliver personalization without adding operational burden?

Join Tom Skrobe, @ryankETFmodels & Quorus’ John Hill to explore tax-aware SMAs + no-fee model trading.

📅 April 7 | 1PM ET

+1 CE credit

Reserve your spot 👇
https://t.co/wMQR5Y6UGc

[Jeremy Schwartz @JeremyDSchwartz]

This week's Behind the Markets Preview:

The Professor's Macro Reads

+@SamuelRines on GeoAlpha Opportunities

[Ryan Krystopowicz, CFA @ryankETFmodels]

Latest blog below 👇

[WisdomTree @WisdomTreeFunds]

Advised relationships could jump by 18 million in the next decade, but advisor capacity isn't keeping up.

@ryankETFmodels makes the case that model portfolios are no longer optional. They're the scalable backbone millennial advisors need to meet modern client expectations.

Read more: https://t.co/zSk2XJC03B

#FinancialAdvisors #ModelPortfolios #WealthManagement

[Ryan Krystopowicz, CFA @ryankETFmodels]

A Quality Performance Gap Akin to 1999

Here is a factor performance chart that is showing up at 1999 levels. The performance gap between the S&P 500 Quality index and the S&P 500 is over 8 percentage points since the springtime tumult. https://t.co/BSQcP5TA8Q

[Ryan Krystopowicz, CFA @ryankETFmodels]

Sub-6% Home Mortgages in 2026: A Live Possibility

The total collapse in bond market volatility is not being reflected in mortgage rates. When things were wild during Covid, it made sense for mortgage rates to be a couple percentage points higher than Treasuries. But the gap remains 209bps between 6.25% conforming mortgages and the 4.16% yield on Treasury Notes. I think these two interest rates will converge in 2026 because of the plunge in the MOVE index. https://t.co/JGViGn3AcA

[Ryan Krystopowicz, CFA @ryankETFmodels]

Just One Said "Decreasing Employment"

Just 0.4% of manufacturers told the Philly Fed they are decreasing employment. They get a response from a couple hundred companies, so that means one person, one single respondent in the Third Federal Reserve District (Philly, Delaware, parts of Jersey) said they are reducing headcount. https://t.co/5edocryY97

[Ryan Krystopowicz, CFA @ryankETFmodels]

Bank Lending Intentions Signal Labor Market Improvement

There is a near-universal consensus that the US labor market is deteriorating. Consider a counterpoint: the Fed's Senior Loan Officer Survey has improved for not 7, not 8, not 9, but 10 consecutive quarters. In other words, loan books are opening. Look at the lags. This is immensely helpful for job applicants. https://t.co/Hd4gi7eYJi

[Ryan Krystopowicz, CFA @ryankETFmodels]

Is the 3-Month Moving Average of Private Payrolls Rebounding Like 2024?

• November nonfarm payrolls rose a bit better than expected in November, coming in at +64k, with private payrolls rising +69k.
• October payrolls fell -105k due to a plunge in federal government employment of -157k (the deferred resignation offers are now finally hitting the report).
• October private payrolls actually rose +52k. https://t.co/cPngpwEE9g

[Ryan Krystopowicz, CFA @ryankETFmodels]

China vs. India: Regime Change

For the first time since the turn of the century, the stock markets of China and India are presenting a negative 3-year correlation to each other. This is a very different game from what most of us have witnessed in our careers. It appears to be a new risk budgeting mentality, where asset allocators that add to one of these countries are doing so by selling the other country. Rather than functioning as complements to each other, where China and India rally and decline together, these two countries are functioning as substitutes for each other. Buy one, sell the other. https://t.co/zOWiSepAwY

[Ryan Krystopowicz, CFA @ryankETFmodels]

Job Openings: Weakening or Stabilizing?

Relative to the working age population, the job openings chart stopped falling over a year ago. I keep reading that the labor market is "weakening." Who knows? Maybe it is. But look at this chart and consider that it may be time to change it from "weakening" to "stabilizing." https://t.co/pxWisddbRW

[Ryan Krystopowicz, CFA @ryankETFmodels]

India’s Valuation Premium Has Fully Reset - What Comes Next?

• While India usually trades at a premium to the broader EM universe, that premium entered 2025 at notably stretched levels. In retrospect, elevated multiples left little cushion and helped set the stage for India’s sharp relative underperformance this year
• That premium has now fully unwound. The MSCI India/MSCI EM relative P/E sits near a five-year low and below its average since Modi took office in 2014, marking one of the most meaningful resets of the past decade
• In recent years, relative valuation has been a strong signal for future relative returns. Extreme premiums have reliably preceded periods of India underperformance, while compressed valuations have tended to align with stronger forward returns
• This valuation reset coincides with improving relative performance after India hit one of its widest 1-year underperformance gaps on record earlier this year https://t.co/S8TlD8qBmS

[Ryan Krystopowicz, CFA @ryankETFmodels]

Another Labor Market Improvement Chart

The evidence is mounting. The NFIB Small Business Optimism survey saw a rise in the number of firms who plan to increase employment versus decrease employment. Over the last 6 months, the rate-of-change exceeds 96% of all periods since 1985. https://t.co/CSkCBgLRCm

[Ryan Krystopowicz, CFA @ryankETFmodels]

The US Unemployment Rate Could...Decline

How cool is this? The US unemployment rate could go DOWN. Look at Canada, where they have reported notable declines in unemployment in both October and November. Logically, Canada and the US move together. It points to the US unemployment rate falling. We love macro around here. https://t.co/dNH94otbNY

[Ryan Krystopowicz, CFA @ryankETFmodels]

Could This Be Stock Market Regime Change?

Historically, when this chart turned up after tanking the way it has this year, the entire vibe of the market witnessed a wholesale regime change. This includes: October 31, 1990, which is just 3 weeks into the bull market that lasted 9.5 more years. March 9, 2000: one day prior to the Dot-Com peak. March 5, 2009: 4 days before the S&P 500 would make its Global Financial Crisis low. The action is the equal-weighted S&P 500 Financials + S&P 500 Industrials + S&P 500 Materials relative to the S&P 500 as a whole. These three sectors have been outperforming since November 3. If past is prologue and the vibe does shift, that would mean concepts like Value would be On, these three sectors On, small caps On, mega caps Off, Tech Off. https://t.co/RK6ooJAGTs