Exchange-traded funds, or etfs, are compelling tools for investors of all stripes. Whether investing for the long haul or implementing shorter-term strategies, ETFs may be just the vehicle sawy investors are looking for. What are ETFs? They're index funds (similar to traditional mutual funds), but trade throughout the day like a stock on just about any U.S. exchange (and quite a few ex-U.S.), and can be bought for a commission through any U.S. broker The ETF industry has grown rapidly, boasting 302 ETFs on 28 exchanges worldwide with assets totaling US$229 billion, says Debbie Fuhr, global ETF analyst with Morgan Stanley. With the lion's share of product and assets, the U.S. lists 149 of them, accounting for US$167.6 billion of the global assets.
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