Exchange-traded funds have transformed investing over the past two decades. The big question now is: What’s next?
January will mark the 20th anniversary of the first ETF in the U.S., now called the SPDR S&P 500, whose assets stood at 9% of all U.S. ETF assets on Oct. 18. Individual investors and financial advisers have come to embrace ETFs for their low fees and the ease with which the funds, by tracking indexes, can pinpoint particular trends, styles or risks.
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