If one likes conspiracy theories one could argue it was deliberate move to concentrate voting rights. Considering that 4 entities now control voting rights in majority of public US companies one could argue it worked.
The ETF Files: How the U.S. government inadvertently launched a $3T industry
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Re: The ETF Files: How the U.S. government inadvertently launched a $3T industry
#42Earlier quoted context omitted.
ETF = investment fund traded on a stock exchange. Index fund = investment fund (mutual fund or ETF) that tracks an index, i.e. passively managed.
So is something like VSGAX an ETF or is it an index fund?
If I understand correctly, ETF and index fund are orthogonal terms. An ETF is traded on the stock market -- in contrast to a mutual fund which you have to buy through other channels.
An index fund tracks an index rather than being actively managed.
I don't know about VSGAX specifically, but it could be both an ETF and an index fund.