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Jason Zweig: The Rot That Lies Beneath Some Index Funds

FYI: Index funds are supposed to meet expectations almost exactly — but once in awhile they can hand investors an unpleasant surprise.

These mutual funds and exchange-traded funds passively track the performance of a basket of stocks, bonds or other assets. They seek to match the market, not to beat it. After costs and taxes, they should provide returns almost identical to those of the underlying investments they hold.

Then there is PNC S&P 500 Index Fund.
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