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[quote=Anonymous]An ETF is a numbers of stocks that have been packaged together in a single security. They get bought and sold like individual stocks, which means you pay a commission on them, and the bid/ask spread can add costs as well. On the other hand as PP notes, ETFs are traded during the day, while mutual funds are settled at the end of the day. the bogleheads wiki should have some good info.[/quote]
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