Stock exchange-traded funds tout diversification and opportunity, but do they really exhibit these trader essentials? Tom and Tony explore how the S&P 500 and Nasdaq have become less diversified and more similar over the years.

The guys then head to the worlds of currencies and commodities to find even less diversification and more confusion. Tom concludes that the current landscape for futures is antiquated and clunky relative to the modern stock trader’s needs, and this is where the Small Exchange comes in.