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Reply to "Admiral Shares vs Investor Shares vs ETF Shares?"
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[quote=Anonymous]The PP is right, the admiral shares and the investor shares are exactly the same, but the admiral shares have a lower expense ratio. The ETF shares are similar, but not identical. They are exchange traded, meaning you will pay a commission when buying and selling them and they need to be held in a brokerage account. ETFs might have a lower expense ratio still. Another difference is redemption, you can redeem an ETF anytime during a day instantly at whatever price it is trading at that day. Mutual funds are redeemed at the end of the day based on the net asset value.[/quote]
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