| ETFs are the smartphone apps of the investing world. It's hard to imagine how we used to get by without them. They are remarkably cheap to create and own. A small handful of the most popular ones dominate usage. There are new ones arriving weekly targeting every narrow interest. And there are far, far too many of them.
In a bit more than 20 years, exchange-traded funds have gone from an innovation no one was asking for ("Why would anyone want to trade a mutual fund in the middle of the day?") to the dominant new-product category in retail investment management.........................................Full Article: Source
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