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ETFs Are Required To Be Transparent ? Not Always At Vanguard
A two page description of how ETFs really work (with portfolio composition files), how lack of transparency can matter even with index funds, etc.
A line I like: "[T]here’s something more important here: truth in advertising."
Many people buy the advertising - they've been told that ETFs are better because of X, Y, and Z, without knowing how much of X, Y, and Z is hype, and without understanding how (or if) those things (even if true) matter to them.
One more line from the article I cited: "History has taught us that “trusting” Wall Street isn’t a good idea."
Comments
http://c.ymcdn.com/sites/www.fpany.org/resource/resmgr/imported/The_Myth_Of_ETF_Transparency-ETFRFeb2011.pdf
A two page description of how ETFs really work (with portfolio composition files), how lack of transparency can matter even with index funds, etc.
A line I like: "[T]here’s something more important here: truth in advertising."
Many people buy the advertising - they've been told that ETFs are better because of X, Y, and Z, without knowing how much of X, Y, and Z is hype, and without understanding how (or if) those things (even if true) matter to them.
One more line from the article I cited: "History has taught us that “trusting” Wall Street isn’t a good idea."
That's got my nomination for the best understatement of the 21st century!