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Exchange Traded Funds: What's the (Big) Deal?
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******************************** Exchange Traded Funds: What's the (Big) Deal? http://knowledge.wharton.upenn.edu/index.cfm?fa=viewfeature&id=1288 Exchange Traded Funds (ETFs) are on a roll: According to Morningstar, a Chicago based provider of independent investment research, 177 ETFs were listed as of August 31 with net assets of $255 billion, compared to 97 in 2002 with net assets of $89 billion. Why are ETFs so popular? Because they provide certain benefits that their mutual fund cousins do not. Like index-style mutual funds, ETFs are baskets of stocks designed to provide diversification and to mirror the performance of an underlying stock market index. Unlike mutual funds, ETFs can be traded throughout the day and can be used in short sales. They also offer some tax advantages over funds. But ETFs can have a downside too, especially if not used responsibly by investors.
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