||Operation and management fees are typically lower than for index mutual funds.|
||Shares can be bought or sold at market prices at any time of the trading day. Investors can use stop and limit orders (if permitted by your broker), sell shares short (subject to exchange rules), or buy on margin (with borrowed money).|
|Extensive market exposure
||Available ETFs represent an extremely broad variety of market benchmarks, including large-cap U.S. stocks, sector stocks, emerging markets, and more.
||An ETF is a single security that can represent a well-diversified portfolio of stocks or bonds.*|
||The structure of ETFs can significantly limit the potential for incurring taxable gains until the security is sold.|
*Diversification cannot assure a profit or protect against loss in a declining market.