# "Stock Yield Enhancement Program" of Interactive Brokers **URL:** \ **Category:** Investing / Brokers\ **Created:** [June 26, 2019, 10:14am UTC](https://forum.mustachianpost.com/t/stock-yield-enhancement-program-of-interactive-brokers/2251 "2019-06-26T10:14:04Z")\ **Posts on this page:** 1\ **Showing post:** 46
**Author:** ![jay](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/ed8c4c/32.png) [@jay](https://forum.mustachianpost.com/u/jay)\ **Post date:** [May 1, 2022, 1:07pm UTC](https://forum.mustachianpost.com/t/stock-yield-enhancement-program-of-interactive-brokers/2251/46 "2022-05-01T13:07:34Z")
> [@johndoe1](#): > > On the concept of ETF lending vs. stock lending: I’m still not sure whether this leads to a double lending situation, a) the ETF provider lending the stocks within the ETF and b) the individual ETF-owner lending the ETF as whole. To me, that seems kind of unsettling. That’s possible even without ETFs. If someone borrows a stock and then sells it, the buyer can’t tell whether the stock was borrowed or not and that buyer can lend the ‘same’ stock again. Theoretically, even to the same short seller. The possibility of more stocks being shorted than total free float may indeed be concerning for a particular company. E.g. hedge funds excessively shorting a single company. I don’t expect this to be an issue in practice for an ETF. > [@johndoe1](#): > > I assume ETF providers earn way more by lending the stocks within an ETF than we can earn by lending our whole ETF, due to much higher trading levels on an individual stock level. Wouldn’t it be fair for ETF-providers to let us participate in these profits? Investors do profit from funds lending stocks. It effectively reduces the ongoing charges. You can see the profits from stock lending in the annual report of each fund. > [@johndoe1](#): > > Just to be clear: As ETF-owners we don’t own a single stock contained in our ETF. Vanguard or Blackrock’s the owner of the individual stocks. Hence, we have no shareholder rights. Has anyone ever been bothered by that? > [@Are Vanguard/Blackrock acting in your interest?](https://forum.mustachianpost.com/t/are-vanguard-blackrock-acting-in-your-interest/8364): > > I just read the following Twitter [thread](https://twitter.com/pmarca/status/1520633450562134016), which got me thinking: Marc Andreessen: Ah, but the shareholders themselves are mainly not applying the pressure, rather their managerial agents–professional investment managers–are. See for example Larry Fink, who owns ~0.0000001% of the capital he speaks for. Elon Musk: Exactly, decisions are being made on behalf of actual shareholders that are contrary to their interests! Major problem with index/passive funds. PEG: Deeper problem: according to Mo… --- _[View the full topic](https://forum.mustachianpost.com/t/stock-yield-enhancement-program-of-interactive-brokers/2251)._