Sometimes the most important revolutions are the silent ones that don’t attract the column inches. Just as profound demographic changes are almost certain to have profound macroeconomic implications, I’d maintain that the rise of ETFs (exchange-traded funds) and passive funds has profoundly changed your investment world, mainly for the good – though with some important caveats. The year 2025 was, you may be surprised to learn, truly crucial for the slow-burning ETF revolution.