In this episode, we dig into a massive stack of April 2026 market research covering the paradigm shift in passive investing.

Topics covered:

- REIT Dividend Quality: The ALPS Active REIT ETF Elite Eight (CUBE, GLPI, VICI, SPG, Realty Income) and why only 28 of 72 REITs maintained dividends over 15+ years

- SPHD's Breakout Quarter: 6.5% surge in Q1, outpacing the S&P 500 by its largest margin since March 2021

- Valuation Reset Opportunities: S&P 500 worst quarter since Q3 2022, forward P/E compressed 17%

- Salary Replacement Math: How much you actually need at 3%, 4%, and 7-8% yields to replace a $60K paycheck

- International ETFs Crushing VOO: EWJ, VGK, VXUS outperforming while US tech concentration becomes a vulnerability

- Income ETF Stress Test: NAV erosion analysis of 40 ETFs — who passed, who failed

- TROW at a Discount: 40-year dividend streak, 5.77% forward yield vs historical 3.2-3.5%

- Verizon Recession Play: 5.63% yield, DCF intrinsic value $62.86 vs $50 price

Tickers discussed: SPHD, REIT, CUBE, GLPI, VICI, SPG, O, SCHD, VYM, JEPI, QQQI, EWJ, VGK, VXUS, VOO, EIPI, TYLG, RYLG, TROW, VZ