Exchange-Traded Fund (ETF): What It Is, How to Invest

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data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Market Research" > Market Research </a> </li> <li> <a id="markets-breakfast-news" href="/investing/breakfast-news/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="📨 Breakfast News" > 📨 Breakfast News </a> </li> </ul> </div> <div class="submenu-column"> <div class="pb-6 font-bold uppercase text-14">Best Buys</div> <ul class="leading-relaxed"> <li> <a id="best-buys-top-stocks-to-buy-now" href="/investing/top-stocks-to-buy-and-hold/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Top Stocks to Buy Now" > Top Stocks to Buy Now </a> </li> <li> <a id="best-buys-best-etfs-to-buy" href="/investing/how-to-invest/etfs/etfs-to-buy/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Best ETFs to Buy" > Best ETFs to Buy </a> </li> <li> <a id="best-buys-best-ai-stocks" href="/investing/stock-market/market-sectors/information-technology/ai-stocks/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Best AI Stocks" > Best AI Stocks </a> </li> <li> <a id="best-buys-best-growth-stocks" href="/investing/stock-market/types-of-stocks/growth-stocks/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Best Growth Stocks" > Best Growth Stocks </a> </li> <li> <a id="best-buys-dividend-kings" href="/investing/stock-market/types-of-stocks/dividend-stocks/dividend-kings/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Dividend Kings" > Dividend Kings </a> </li> <li> <a id="best-buys-best-index-funds" href="/investing/how-to-invest/index-funds/best-index-funds/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Best Index Funds" > Best Index Funds </a> </li> <li> <a id="best-buys-next-cryptos-to-explode" href="/investing/stock-market/market-sectors/financials/cryptocurrency-stocks/next-crypto-to-explode/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Next Cryptos to Explode" > Next Cryptos to Explode </a> </li> </ul> </div> <div class="submenu-column"> <div class="pb-6 font-bold uppercase text-14">Industries to Invest In</div> <ul class="leading-relaxed"> <li> <a id="industries-to-invest-in-technology" href="/investing/stock-market/market-sectors/information-technology/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Technology" > Technology </a> </li> <li> <a id="industries-to-invest-in-energy" href="/investing/stock-market/market-sectors/energy/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Energy" > Energy </a> </li> <li> <a id="industries-to-invest-in-real-estate" href="/investing/stock-market/market-sectors/real-estate-investing/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Real Estate" > Real Estate </a> </li> <li> <a id="industries-to-invest-in-healthcare" href="/investing/stock-market/market-sectors/healthcare/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Healthcare" > Healthcare </a> </li> <li> <a id="industries-to-invest-in-consumer-goods" href="/investing/stock-market/market-sectors/consumer-staples/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Consumer Goods" > Consumer Goods </a> </li> <li> <a id="industries-to-invest-in-materials" href="/investing/stock-market/market-sectors/materials/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Materials" > Materials </a> </li> <li> <a id="industries-to-invest-in-industrials" href="/investing/stock-market/market-sectors/industrials/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Industrials" > Industrials </a> </li> </ul> </div> </div> </div> </div> <div class="flex dropdown"> <button class="dropdown-label text-16"> How to Invest <svg viewBox="0 0 320 512"> <title>angle-down</title> <path fill="currentColor" d="M151.5 347.8L3.5 201c-4.7-4.7-4.7-12.3 0-17l19.8-19.8c4.7-4.7 12.3-4.7 17 0L160 282.7l119.7-118.5c4.7-4.7 12.3-4.7 17 0l19.8 19.8c4.7 4.7 4.7 12.3 0 17l-148 146.8c-4.7 4.7-12.3 4.7-17 0z"></path> </svg> </button> <div class="flex submenu"> <div class="flex justify-between topnav-wrapper p-32px xl:px-0px"> <div class="submenu-column"> <div class="pb-6 font-bold uppercase text-14">Investing 101</div> <ul class="leading-relaxed"> <li> <a id="investing-101-how-to-invest-money" href="/investing/how-to-invest/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="How to Invest Money" > How to Invest Money </a> </li> <li> <a id="investing-101-what-to-invest-in" href="/investing/how-to-invest/what-to-invest-in/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="What to Invest In" > What to Invest In </a> </li> <li> <a id="investing-101-how-to-invest-in-stocks" href="/investing/how-to-invest/stocks/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="How to Invest in Stocks" > How to Invest in Stocks </a> </li> <li> <a id="invesing-101-how-to-invest-in-etfs" href="/investing/how-to-invest/etfs/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="How to Invest in ETFs" > How to Invest in ETFs </a> </li> <li> <a id="investing-101-how-to-invest-in-index-funds" href="/investing/how-to-invest/index-funds/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="How to Invest in Index Funds" > How to Invest in Index Funds </a> </li> <li> <a id="investing-101-how-to-invest-in-bonds" href="/investing/how-to-invest/bonds/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="How to Invest in Bonds" > How to Invest in Bonds </a> </li> <li> <a id="investing-101-financial-dictionary" href="/terms/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Financial Dictionary" > Financial Dictionary </a> </li> </ul> </div> <div class="submenu-column"> <div class="pb-6 font-bold uppercase text-14">Stock Market Basics</div> <ul class="leading-relaxed"> <li> <a id="stock-market-basics-stock-market-101" href="/investing/stock-market/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Stock Market 101" > Stock Market 101 </a> </li> <li> <a id="stock-market-basics-types-of-stocks" href="/investing/stock-market/types-of-stocks/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Types of Stocks" > Types of Stocks </a> </li> <li> <a id="stock-market-basics-stock-market-sectors" href="/investing/stock-market/market-sectors/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Stock Market Sectors" > Stock Market Sectors </a> </li> <li> <a id="stock-market-basics-stock-market-indexes" href="/investing/stock-market/indexes/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Stock Market Indexes" > Stock Market Indexes </a> </li> <li> <a id="stock-market-basics-what-are-stock-splits" href="/terms/s/stock-split/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="What Are Stock Splits?" > What Are Stock Splits? </a> </li> <li> <a id="stock-market-basics-what-is-compound-interest" href="/investing/how-to-invest/stocks/compound-interest-accounts/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="What Is Compound Interest?" > What Is Compound Interest? </a> </li> <li> <a id="stock-market-basics-after-hours-trading" href="/terms/a/after-hours-trading/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="After Hours Trading" > After Hours Trading </a> </li> </ul> </div> <div class="submenu-column"> <div class="pb-6 font-bold uppercase text-14">Start Investing</div> <ul class="leading-relaxed"> <li> <a id="start-investing-how-to-buy-stock" href="/investing/how-to-invest/stocks/how-to-buy-stock/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="How to Buy Stock" > How to Buy Stock </a> </li> <li> <a id="start-investing-best-brokers-for-beginners" href="https://www.fool.com/money/buying-stocks/best-online-stock-brokers-beginners/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Best Brokers for Beginners" > Best Brokers for Beginners </a> </li> <li> <a id="start-investing-best-brokerage-accounts" href="https://www.fool.com/money/buying-stocks/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Best Brokerage Accounts" > Best Brokerage Accounts </a> </li> <li> <a id="start-investing-good-time-to-buy-stocks" href="/investing/how-to-invest/stocks/good-time-to-buy-stocks/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Good Time to Buy Stocks" > Good Time to Buy Stocks </a> </li> <li> <a id="start-investing-how-many-shares-to-buy" href="/investing/how-to-invest/stocks/how-many-shares-buy-stock/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="How Many Shares to Buy?" > How Many Shares to Buy? </a> </li> <li> <a id="start-investing-portfolio-diversification" href="/investing/how-to-invest/portfolio-diversification/" target="_blank" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Portfolio Diversification" > Portfolio Diversification </a> </li> <li> <a id="start-investing-long-term-investing-strategies" href="/investing/how-to-invest/stocks/investment-strategies/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Long Term Investing Strategies" > Long Term Investing Strategies </a> </li> </ul> </div> <div class="submenu-column"> <div class="pb-6 font-bold uppercase text-14">Companies to Invest In</div> <ul class="leading-relaxed"> <li> <a id="companies-to-invest-in-magnificent-seven-companies" href="/investing/how-to-invest/stocks/magnificent-seven/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Magnificent Seven Companies" > Magnificent Seven Companies </a> </li> <li> <a id="companies-to-invest-in-warren-buffett-investments" href="/investing/how-to-invest/famous-investors/warren-buffett-investments/stocks-owned/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Warren Buffett Investments" > Warren Buffett Investments </a> </li> <li> <a id="companies-to-invest-in-investing-in-chatgpt" href="/investing/stock-market/market-sectors/information-technology/ai-stocks/chatgpt/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Investing in ChatGPT" > Investing in ChatGPT </a> </li> <li> <a id="companies-to-invest-in-investing-in-spacex" href="/investing/how-to-invest/stocks/how-to-invest-in-spacex-stock/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Investing in SpaceX" > Investing in SpaceX </a> </li> <li> <a id="companies-to-invest-in-investing-in-openai" href="/investing/how-to-invest/stocks/how-to-invest-in-openai-stock/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Investing in OpenAI" > Investing in OpenAI </a> </li> <li> <a id="companies-to-invest-in-investing-in-nvidia" href="/investing/how-to-invest/stocks/how-to-invest-in-nvidia-stock/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Investing in Nvidia" > Investing in Nvidia </a> </li> <li> <a id="companies-to-invest-in-investing-in-databricks" href="/investing/how-to-invest/stocks/how-to-invest-in-databricks/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Investing in Databricks" > Investing in Databricks </a> </li> </ul> </div> </div> </div> </div> <div class="flex dropdown"> <button class="dropdown-label text-16"> Retirement <svg viewBox="0 0 320 512"> <title>angle-down</title> <path fill="currentColor" d="M151.5 347.8L3.5 201c-4.7-4.7-4.7-12.3 0-17l19.8-19.8c4.7-4.7 12.3-4.7 17 0L160 282.7l119.7-118.5c4.7-4.7 12.3-4.7 17 0l19.8 19.8c4.7 4.7 4.7 12.3 0 17l-148 146.8c-4.7 4.7-12.3 4.7-17 0z"></path> </svg> </button> <div class="flex submenu"> <div class="flex justify-between topnav-wrapper p-32px xl:px-0px"> <div class="submenu-column"> <div class="pb-6 font-bold uppercase text-14">Retirement Essentials</div> <ul class="leading-relaxed"> <li> <a id="retirement-essentials-retirement-101" href="/retirement/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Retirement 101" > Retirement 101 </a> </li> <li> <a id="retirement-essentials-types-of-retirement-accounts" href="/retirement/plans/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Types of Retirement Accounts" > Types of Retirement Accounts </a> </li> <li> <a id="retirement-essentials-how-to-contribute-to-401k-ira" href="/retirement/plans/401k/contribute-to-401k-and-ira/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="How to Contribute to 401k/IRA?" > How to Contribute to 401k/IRA? </a> </li> <li> <a id="retirement-essentials-strategies-to-save-for-retirement" href="/retirement/strategies/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Strategies to Save for Retirement" > Strategies to Save for Retirement </a> </li> <li> <a id="retirement-essentials-asset-allocation-for-my-age" href="/retirement/strategies/asset-allocation-by-age/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Asset Allocation for My Age" > Asset Allocation for My Age </a> </li> <li> <a id="retirement-essentials-best-ira-brokerage-accounts" href="https://www.fool.com/money/buying-stocks/best-brokers-iras/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Best IRA Brokerage Accounts" > Best IRA Brokerage Accounts </a> </li> <li> <a id="retirement-essentials-withdrawal-rules-for-401k-plans" href="/retirement/plans/401k/withdrawal/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Withdrawal Rules for 401(k) Plans" > Withdrawal Rules for 401(k) Plans </a> </li> </ul> </div> <div class="submenu-column"> <div class="pb-6 font-bold uppercase text-14">Social Security Benefits</div> <ul class="leading-relaxed"> <li> <a id="social-security-benefits-social-security-101" href="/retirement/social-security/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Social Security 101" > Social Security 101 </a> </li> <li> <a id="social-security-benefits-when-to-start-social-security" href="/retirement/social-security/when-to-start/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="When to Start Social Security?" > When to Start Social Security? </a> </li> <li> <a id="social-security-benefits-full-retirement-age" href="/retirement/social-security/full-retirement-age/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Full Retirement Age" > Full Retirement Age </a> </li> <li> <a id="social-security-benefits-colas" href="/retirement/social-security/colas/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="COLAs" > COLAs </a> </li> <li> <a id="social-security-benefits-calculate-your-ss-benefits" href="/retirement/social-security/benefits-formula/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Calculate Your SS Benefits" > Calculate Your SS Benefits </a> </li> <li> <a id="social-security-benefits-collecting-spousal-benefits" href="/retirement/social-security/spousal-benefits/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Collecting Spousal Benefits" > Collecting Spousal Benefits </a> </li> <li> <a id="social-security-benefits-maximize-social-security-benefit" href="/retirement/social-security/how-to-maximize-social-security/" data-track-category="nav_hover_menu" data-track-action="foolcom_nav_click" data-source="foolcom_nav_click" data-track-link="Maximize Social Security Benefit" > Maximize Social Security Benefit </a> </li> </ul> </div> <div class="submenu-column"> 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data-track-category="evergreen_breadcrumbs" data-track-link="E" >E </a> > <span class="active"> Etfs </span> </div> <h1 class="text-3xl tracking-tight text-h2 md:text-5xl text-gray-1000 mb-0px">What Is an Exchange-Traded Fund (ETF)?</h1> <div class="font-medium text-gray-800 text-md md:text-lg mb-16px mt-20px md:my-24px"> By <a class="text-cyan-800 hover:text-cyan-600 hover:underline" href="https://www.fool.com/author/1484/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_byline" data-track-link="Anders Bylund" >Anders Bylund</a> – Updated Jul 2, 2024 at 4:06PM </div> <div class="mt-8 bg-white shadow-card p-20px"> <p class="mb-8 text-lg font-bold uppercase">Key Points</p> <ul class="font-medium"> <li class="flex leading-tight my-8px"> <div class="mt-2px mr-8px w-16px"> <svg width="14" height="15" viewBox="0 0 14 15" fill="none" xmlns="http://www.w3.org/2000/svg"> <path d="M14 5.58984C14 2.91016 11.8398 0.75 9.16016 0.75C6.50781 0.777344 4.375 2.91016 4.375 5.5625C4.375 6.10938 4.45703 6.60156 4.59375 7.09375L0.191406 11.4961C0.0546875 11.6328 0 11.7969 0 11.9609V14.0938C0 14.4766 0.273438 14.75 0.65625 14.75H3.71875C4.07422 14.75 4.375 14.4766 4.375 14.0938V13H5.46875C5.82422 13 6.125 12.7266 6.125 12.3438V11.25H7.13672C7.30078 11.25 7.51953 11.168 7.62891 11.0312L8.28516 10.293C8.55859 10.3477 8.85938 10.375 9.1875 10.375C11.8398 10.375 14 8.24219 14 5.58984ZM9.1875 4.25C9.1875 3.53906 9.76172 2.9375 10.5 2.9375C11.2109 2.9375 11.8125 3.53906 11.8125 4.25C11.8125 4.98828 11.2109 5.5625 10.5 5.5625C9.76172 5.5625 9.1875 4.98828 9.1875 4.25Z" fill="#FFB81C"/> </svg> </div> ETFs combine the easy trading of stocks with the diversification of mutual funds. </li><li class="flex leading-tight my-8px"> <div class="mt-2px mr-8px w-16px"> <svg width="14" height="15" viewBox="0 0 14 15" fill="none" xmlns="http://www.w3.org/2000/svg"> <path d="M14 5.58984C14 2.91016 11.8398 0.75 9.16016 0.75C6.50781 0.777344 4.375 2.91016 4.375 5.5625C4.375 6.10938 4.45703 6.60156 4.59375 7.09375L0.191406 11.4961C0.0546875 11.6328 0 11.7969 0 11.9609V14.0938C0 14.4766 0.273438 14.75 0.65625 14.75H3.71875C4.07422 14.75 4.375 14.4766 4.375 14.0938V13H5.46875C5.82422 13 6.125 12.7266 6.125 12.3438V11.25H7.13672C7.30078 11.25 7.51953 11.168 7.62891 11.0312L8.28516 10.293C8.55859 10.3477 8.85938 10.375 9.1875 10.375C11.8398 10.375 14 8.24219 14 5.58984ZM9.1875 4.25C9.1875 3.53906 9.76172 2.9375 10.5 2.9375C11.2109 2.9375 11.8125 3.53906 11.8125 4.25C11.8125 4.98828 11.2109 5.5625 10.5 5.5625C9.76172 5.5625 9.1875 4.98828 9.1875 4.25Z" fill="#FFB81C"/> </svg> </div> Most ETFs passively track indexes, offering lower fees and predictable performance. </li><li class="flex leading-tight my-8px"> <div class="mt-2px mr-8px w-16px"> <svg width="14" height="15" viewBox="0 0 14 15" fill="none" xmlns="http://www.w3.org/2000/svg"> <path d="M14 5.58984C14 2.91016 11.8398 0.75 9.16016 0.75C6.50781 0.777344 4.375 2.91016 4.375 5.5625C4.375 6.10938 4.45703 6.60156 4.59375 7.09375L0.191406 11.4961C0.0546875 11.6328 0 11.7969 0 11.9609V14.0938C0 14.4766 0.273438 14.75 0.65625 14.75H3.71875C4.07422 14.75 4.375 14.4766 4.375 14.0938V13H5.46875C5.82422 13 6.125 12.7266 6.125 12.3438V11.25H7.13672C7.30078 11.25 7.51953 11.168 7.62891 11.0312L8.28516 10.293C8.55859 10.3477 8.85938 10.375 9.1875 10.375C11.8398 10.375 14 8.24219 14 5.58984ZM9.1875 4.25C9.1875 3.53906 9.76172 2.9375 10.5 2.9375C11.2109 2.9375 11.8125 3.53906 11.8125 4.25C11.8125 4.98828 11.2109 5.5625 10.5 5.5625C9.76172 5.5625 9.1875 4.98828 9.1875 4.25Z" fill="#FFB81C"/> </svg> </div> They're traded on exchanges, allowing instant buy/sell like stocks.</li> <li class="flex leading-tight my-8px keypoints-pitch-container"> <div class="mt-2px mr-8px w-16px"> <svg width="14" height="15" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 448 512"> <path d="M224 0c-17.7 0-32 14.3-32 32V51.2C119 66 64 130.6 64 208v18.8c0 47-17.3 92.4-48.5 127.6l-7.4 8.3c-8.4 9.4-10.4 22.9-5.3 34.4S19.4 416 32 416H416c12.6 0 24-7.4 29.2-18.9s3.1-25-5.3-34.4l-7.4-8.3C401.3 319.2 384 273.9 384 226.8V208c0-77.4-55-142-128-156.8V32c0-17.7-14.3-32-32-32zm45.3 493.3c12-12 18.7-28.3 18.7-45.3H224 160c0 17 6.7 33.3 18.7 45.3s28.3 18.7 45.3 18.7s33.3-6.7 45.3-18.7z" fill="#FFB81C" /> </svg> </div> <div> <div data-pitch-placement="keypoints_pitch"> <div><a class="text-cyan-800 hover:text-cyan-600" href="https://www.fool.com/mms/mark/all-in-advert?aid=9223&paid=9223&waid=9223&source=isaedikp0000004&psource=isaedikp0000004&wsource=isaedikp0000004" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="foolcom_evergreen_key_points" data-track-link="Motley Fool Issues Rare All In Buy Alert">Motley Fool Issues Rare “All In” Buy Alert</a></div> </div> </div> </li> </ul> <div class="italic text-md pt-8px">Key findings are powered by ChatGPT and based solely off the content from this article. Findings are reviewed by our editorial team. The author and editors take ultimate responsibility for the content.</div> </div> </div> <div class="border-gray-200 -mx-24px md:-mx-40px h-1px border-b-1px md:border-b-0px pt-16px md:pt-0px md:h-16px md:bg-gradient-to-b from-transparent to-gray-200"></div> </section> <section class="container mx-auto bg-white px-24px md:px-40 pt-16px md:pb-8"> <div class="mx-auto md:max-w-880 lg:max-w-1280"> <div class="mt-20px md:mt-36px foolcom-grid-toc-content-sidebar "> <div id="toc-subnav" class="lg:w-176 lg:pr-28px mb-32px"> <toc_subnav /> </div> <div class="max-w-full w-full mx-auto article-body"> <section class="block-paragraph"> <p data-block-key="2vgsd">Stocks are easy to trade but only give you ownership in one company. Mutual funds provide diversification and flexibility with professionally managed portfolios but are saddled with clumsier trading processes and potentially higher tax bills.</p><p data-block-key="ci3af">An exchange-traded fund (ETF) delivers the best of both worlds. With ETFs, you get access to large, diversified stock portfolios through a single ticker that behaves like a simple stock in many ways.</p> </section> <section class="block-image"> <div class="inline-block mx-auto mb-32px"> <img src="https://m.foolcdn.com/media/dubs/images/what-is-an-etf-infographic.width-880.png" width="880" alt="An infographic defining and explaining the term exchange-traded fund (ETF)." loading="lazy"> <div class="not-italic text-gray-600 text-md">Image source: The Motley Fool.</div> </div> </section> <section class="block-paragraph"> <h2 class="toc-target" data-block-key="ipsma">What is it?</h2><h2 data-block-key="arkjs">What is an ETF?</h2><p data-block-key="alom7">An ETF is a specialized investment company that manages a single portfolio of investments in stocks, <a href="/investing/how-to-invest/bonds/best-bonds/">bonds</a>, <a href="/investing/stock-market/market-sectors/real-estate-investing/">real estate</a>, <a href="/terms/s/spot-bitcoin-etf/">cryptocurrencies</a>, or other assets. This company is then registered on the stock market, much like any other business. You can <a href="/investing/how-to-invest/etfs/">buy or sell shares of an ETF</a> at any time during a normal market day, and the share price reacts in real time to shifting buyer demand and supply-side sells.</p><p data-block-key="5fp0o">Most ETFs are passively managed, set up to simply mirror the composition and performance of a specific <a href="/investing/stock-market/indexes/">market index</a>. Others are actively managed by professional fund advisors attempting to beat the market through human expertise. In most cases, you're better off with a passive index-tracking ETF's predictable, long-term performance, which also comes with lower management fees.</p><h2 class="toc-target" data-block-key="57hg3">What's unique?</h2><h2 data-block-key="7jvp1">What's so special about ETFs?</h2><p data-block-key="c4dp8">At first glance, an ETF looks a lot like a <a href="/investing/how-to-invest/mutual-funds/">mutual fund</a>. You use a single ticker to trade ownership in a curated list of stocks (or other assets) and reap the rewards of instant diversification. In some cases, the investment firm behind the scenes offers a mutual fund version and an ETF alternative tracking the same market index. The results of owning either one are effectively the same in the long run.</p> </section> <section class="block-pitch"> <div id="foolcom-wagtail-foolcom_body_ascent_offers" data-pitch-placement="foolcom_body_ascent_offers"></div> </section> <section class="block-paragraph"> <p data-block-key="eueir">However, there are some significant <a href="/investing/how-to-invest/etfs/etf-vs-mutual-fund/">differences between ETFs and mutual funds</a>:</p><ul><li data-block-key="5k81g">Mutual funds change hands only once per day after the market closes, while ETFs are available whenever the stock market is open.</li><li data-block-key="7388v">The tax-reporting paperwork for a mutual fund is quite different, and you may end up paying taxes on individual stock transactions made by the fund. With an ETF, the day-to-day stock trading is handled by the fund manager. Your only tax liability is based on buying and selling the actual ETF.</li><li data-block-key="frfkd"><a href="/investing/how-to-invest/index-funds/how-index-funds-work/">Passive index trackers</a> are far more popular in the ETF world than among mutual funds. According to <b>Charles Schwab</b> (<span class="font-bold whitespace-nowrap" data-id="206628"><a href="/quote/nyse/schw/">SCHW</a> <span class="text-green-900 ticker-change"> 0.19%</span></span>), about 500 index-tracking mutual funds are on the market today, but 2,000 ETFs are in the same category. Therefore, it's easier to find an ETF that matches your investing style and sector focus.</li></ul><h2 class="toc-target" data-block-key="cd5j9">How to use them</h2><h2 data-block-key="329se">How to use ETFs</h2><p data-block-key="1bd2b">An ETF is a cost-effective way to inject a diversified group of stocks into your portfolio without complicating the trading and tax reporting experience. Many investors take advantage of these flexible funds by mirroring the stock market as a whole through funds tracking the <b>S&P 500</b> (<a href="/quote/snpindex/^gspc/">SNPINDEX:^GSPC</a>) or <b>Russell 3000</b> indexes.</p><p data-block-key="bbpc1">Popular funds tracking the S&P 500 include the <a href="/investing/how-to-invest/etfs/how-to-invest-in-voo-etf/"><b>Vanguard 500 Index Fund ETF</b></a> (<span class="font-bold whitespace-nowrap" data-id="248475"><a href="/quote/nysemkt/voo/">VOO</a> <span class="text-green-900 ticker-change"> 0.53%</span></span>) and the <a href="/investing/how-to-invest/etfs/how-to-invest-in-spy-etf/"><b>SPDR S&P 500 ETF Trust</b></a> (<span class="font-bold whitespace-nowrap" data-id="214888"><a href="/quote/nysemkt/spy/">SPY</a> <span class="text-green-900 ticker-change"> 0.62%</span></span>). Warren Buffett's <a href="/investing/how-to-invest/stocks/how-to-invest-in-berkshire-hathaway-stock/"><b>Berkshire Hathaway</b></a> (<span class="font-bold whitespace-nowrap" data-id="206249"><a href="/quote/nyse/brk.a/">BRK.A</a> <span class="text-green-900 ticker-change"> 0.07%</span></span>)(<span class="font-bold whitespace-nowrap" data-id="206602"><a href="/quote/nyse/brk.b/">BRK.B</a> <span class="text-red-900 ticker-change"> -0.01%</span></span>) has large holdings in both.</p><p data-block-key="bvgf0">For the ultra-broad Russell 3000 index, you could use the <b>iShares Russell 3000 ETF</b> (<span class="font-bold whitespace-nowrap" data-id="221796"><a href="/quote/nysemkt/iwv/">IWV</a> <span class="text-green-900 ticker-change"> 0.61%</span></span>) or the <b>Vanguard Russell 3000 ETF</b> (<span class="font-bold whitespace-nowrap" data-id="271396"><a href="/quote/nasdaq/vthr/">VTHR</a> <span class="text-green-900 ticker-change"> 0.73%</span></span>). These funds offer immediate exposure to hundreds or even thousands of stocks across every conceivable industry, with robust liquidity and <a href="/terms/e/etf-expense-ratio/">minimal management fees</a>.</p> </section> <section class="block-pitch"> <div id="foolcom-wagtail-in_line_article_pitch" data-pitch-placement="in_line_article_pitch"></div> </section> <section class="block-paragraph"> <h2 class="toc-target" data-block-key="c642u">How to invest</h2><h2 data-block-key="f70vl">How to invest in ETFs</h2><p data-block-key="c2clp">Investing in ETFs is very similar to investing in stocks. You may gain exposure to a long list of stocks and other assets, but it's done through a single ticker symbol, and your new investment is managed just like a stock. If you know <a href="/investing/how-to-invest/stocks/how-to-buy-stock/">how to buy a stock</a>, you also know how to buy an ETF.</p><p data-block-key="f3d3p">ETFs update their prices during each market day, and your order to buy or sell them can be executed right away. This is different from mutual funds, whose share price and transactions are updated only after the closing bell.</p><p data-block-key="c4io1">So, you probably know the drill already: Open and fund a brokerage account (if you didn't already have that essential puzzle piece), research your options, and pick the best ETF for your purposes. At this point, you're almost done. Set your budget for this ETF investment, figure out <a href="/investing/how-to-invest/stocks/how-many-shares-buy-stock/">how many shares you can buy</a> for that amount, and place your order. Before you know it, the targeted ETF will be part of your portfolio.</p><p data-block-key="b3vlv">The job doesn't end there, of course. Just like any stock, you should keep an eye on your ETF and be ready to take action if your investment thesis changes.</p><h2 data-block-key="afaa5">Related investing topics</h2> </section> <section class="block-hub_pages"> <div class="gap-24 md:grid md:grid-cols-4 lg:grid-cols-2 xl:grid-cols-4 wagtail-block"> <div class="border border-gray-300 shadow-card mb-24px md:mb-0px"> <a class="block h-full p-16px border-t-4px border-cyan-700 hover:border-cyan-600" href="/investing/how-to-invest/etfs/etf-vs-index-fund/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="foolcom_evergreen_hub_pages_block" data-track-link="ETF vs. Index Fund: What Are the Differences?" > <h4 class="font-bold text-md"> ETF vs. Index Fund: What Are the Differences? </h4> <p>Your investment style can dictate which kind of fund is best for your portfolio.</p> </a> </div> <div class="border border-gray-300 shadow-card mb-24px md:mb-0px"> <a class="block h-full p-16px border-t-4px border-cyan-700 hover:border-cyan-600" href="/investing/how-to-invest/etfs/cheap-etfs/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="foolcom_evergreen_hub_pages_block" data-track-link="Cheap ETFs to Buy in 2024" > <h4 class="font-bold text-md"> Cheap ETFs to Buy in 2024 </h4> <p>Get a list of inexpensive buys among the market's top ETFs.</p> </a> </div> <div class="border border-gray-300 shadow-card mb-24px md:mb-0px"> <a class="block h-full p-16px border-t-4px border-cyan-700 hover:border-cyan-600" href="/investing/stock-market/types-of-stocks/value-stocks/value-etfs/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="foolcom_evergreen_hub_pages_block" data-track-link="Best Value ETFs of December 2024" > <h4 class="font-bold text-md"> Best Value ETFs of December 2024 </h4> <p>Value ETFs can net serious profits over time.</p> </a> </div> <div class="border border-gray-300 shadow-card mb-24px md:mb-0px"> <a class="block h-full p-16px border-t-4px border-cyan-700 hover:border-cyan-600" href="/investing/stock-market/market-sectors/investing-in-sector-etfs/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="foolcom_evergreen_hub_pages_block" data-track-link="Investing in Sector ETFs" > <h4 class="font-bold text-md"> Investing in Sector ETFs </h4> <p>Investing in ETFs within each market sector is a great way to promote diversification in your portfolio—and decrease risk.</p> </a> </div> </div> </section> <section class="block-paragraph"> <p data-block-key="b1vur">If <a href="/investing/how-to-invest/index-funds/">an index-tracking ETF</a> is the only investment you'll ever make, that's a perfectly reasonable strategy that puts your financial management efforts far ahead of most people's. It can also be a stepping stone to picking market-beating individual stocks someday, supported by the robust, long-term gains of a simple index-based platform.</p> </section> <section class="block-pitch"> <div id="foolcom-wagtail-article_pitch" data-pitch-placement="article_pitch"></div> </section> <section class="block-paragraph"> <h2 class="toc-target" data-block-key="jog1f">FAQ</h2> </section> <section class="block-faq"> <div class="my-48 wagtail-block"> <h2>FAQ about exchange-traded funds</h2> <div class="qna"> <div class="flex items-center justify-between py-24 border-b border-gray-400 qna-header hub-faq"> <h3 data-block-key="jl6ka">What are ETFs, and how do they work?</h3> <svg class="collapsed-icon w-24px h-24px ml-4px" viewBox="0 0 320 512"> <title>angle-down</title> <path fill="currentColor" d="M151.5 347.8L3.5 201c-4.7-4.7-4.7-12.3 0-17l19.8-19.8c4.7-4.7 12.3-4.7 17 0L160 282.7l119.7-118.5c4.7-4.7 12.3-4.7 17 0l19.8 19.8c4.7 4.7 4.7 12.3 0 17l-148 146.8c-4.7 4.7-12.3 4.7-17 0z"></path> </svg> <svg class="expanded-icon w-24px h-24px ml-4px" viewBox="0 0 320 512"> <title>angle-up</title> <path fill="currentColor" d="M168.5 164.2l148 146.8c4.7 4.7 4.7 12.3 0 17l-19.8 19.8c-4.7 4.7-12.3 4.7-17 0L160 229.3 40.3 347.8c-4.7 4.7-12.3 4.7-17 0L3.5 328c-4.7-4.7-4.7-12.3 0-17l148-146.8c4.7-4.7 12.3-4.7 17 0z"></path> </svg> </div> <div class="qna-content"> <p data-block-key="vgk8r">ETFs, or exchange-traded funds, are investment funds traded on stock exchanges just like individual stocks. They hold a collection of assets such as stocks, bonds, or commodities. Investors buy shares of the ETF, which represent a portion of the fund's holdings. ETFs offer diversification, lower fees, and flexibility in trading.</p> </div> </div> <div class="qna"> <div class="flex items-center justify-between py-24 border-b border-gray-400 qna-header hub-faq"> <h3 data-block-key="ek0wh">Is an ETF better than a stock?</h3> <svg class="collapsed-icon w-24px h-24px ml-4px" viewBox="0 0 320 512"> <title>angle-down</title> <path fill="currentColor" d="M151.5 347.8L3.5 201c-4.7-4.7-4.7-12.3 0-17l19.8-19.8c4.7-4.7 12.3-4.7 17 0L160 282.7l119.7-118.5c4.7-4.7 12.3-4.7 17 0l19.8 19.8c4.7 4.7 4.7 12.3 0 17l-148 146.8c-4.7 4.7-12.3 4.7-17 0z"></path> </svg> <svg class="expanded-icon w-24px h-24px ml-4px" viewBox="0 0 320 512"> <title>angle-up</title> <path fill="currentColor" d="M168.5 164.2l148 146.8c4.7 4.7 4.7 12.3 0 17l-19.8 19.8c-4.7 4.7-12.3 4.7-17 0L160 229.3 40.3 347.8c-4.7 4.7-12.3 4.7-17 0L3.5 328c-4.7-4.7-4.7-12.3 0-17l148-146.8c4.7-4.7 12.3-4.7 17 0z"></path> </svg> </div> <div class="qna-content"> <p data-block-key="q6tzo">ETFs and stocks serve different purposes. ETFs offer diversification, spreading risk across multiple assets, which can be safer for beginners. Stocks can offer higher returns but come with higher risk. It depends on your investment goals and risk tolerance.</p> </div> </div> <div class="qna"> <div class="flex items-center justify-between py-24 border-b border-gray-400 qna-header hub-faq"> <h3 data-block-key="ek0wh">What is better: ETFs or mutual funds?</h3> <svg class="collapsed-icon w-24px h-24px ml-4px" viewBox="0 0 320 512"> <title>angle-down</title> <path fill="currentColor" d="M151.5 347.8L3.5 201c-4.7-4.7-4.7-12.3 0-17l19.8-19.8c4.7-4.7 12.3-4.7 17 0L160 282.7l119.7-118.5c4.7-4.7 12.3-4.7 17 0l19.8 19.8c4.7 4.7 4.7 12.3 0 17l-148 146.8c-4.7 4.7-12.3 4.7-17 0z"></path> </svg> <svg class="expanded-icon w-24px h-24px ml-4px" viewBox="0 0 320 512"> <title>angle-up</title> <path fill="currentColor" d="M168.5 164.2l148 146.8c4.7 4.7 4.7 12.3 0 17l-19.8 19.8c-4.7 4.7-12.3 4.7-17 0L160 229.3 40.3 347.8c-4.7 4.7-12.3 4.7-17 0L3.5 328c-4.7-4.7-4.7-12.3 0-17l148-146.8c4.7-4.7 12.3-4.7 17 0z"></path> </svg> </div> <div class="qna-content"> <p data-block-key="15rbr">ETFs are often better for lower costs, flexibility in trading, and tax efficiency. Mutual funds are better for automatic investments and not needing to actively manage trades. The best choice depends on your investing style and preferences.</p> </div> </div> </div> </section> <div class="text-gray-700 border-gray-300 md:border-b-0px text-md border-b-1px mb-32px lg:mb-0px pb-32px lg:pb-0px"> Charles Schwab is an advertising partner of The Ascent, a Motley Fool company. <a href="https://www.fool.com/author/1484/">Anders Bylund</a> has positions in Vanguard S&P 500 ETF. The Motley Fool has positions in and recommends Berkshire Hathaway, Charles Schwab, and Vanguard S&P 500 ETF. The Motley Fool recommends the following options: short June 2024 $65 puts on Charles Schwab. 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Escrow?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="People shaking hands over a desk in a bank." src="https://m.foolcdn.com/media/dubs/images/GettyImages-1149285452.width-600.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is Escrow?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/exw/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is Ex Works (EXW)?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Shipping containers being moved in cargo yard." src="https://m.foolcdn.com/media/dubs/images/shipping_containers_in_cargo_yard.width-600.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is Ex Works (EXW)?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/enron/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is Enron?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="An infographic defining and explaining Enron." src="https://m.foolcdn.com/media/dubs/images/what-is-enron-infographic.width-600.png" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is Enron?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/economic-moat/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is an Economic Moat?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="A castle with a moat." src="https://m.foolcdn.com/media/dubs/images/original_imageshttpsg.foolcdn.comeditorialimag.width-600_krG5btl.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is an Economic Moat?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/efficient-frontier/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is the Efficient Frontier?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Hand pointing to a pie chart on a tablet screen." src="https://m.foolcdn.com/media/dubs/images/GettyImages-160912032.width-600.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is the Efficient Frontier?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/exchange-traded-note/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is an Exchange-Traded Note (ETN)?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Adult uses calculator in front of laptop next to a larger monitor with charts." src="https://m.foolcdn.com/media/dubs/images/10-investor-trading.width-600.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is an Exchange-Traded Note (ETN)?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/economic-depression/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is an Economic Depression?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="A downward-trending arrow superimposed over a stock ticker board." src="https://m.foolcdn.com/media/dubs/images/original_imageshttpsg.foolcdn.comeditorialimag.width-600_8zS0mm7.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is an Economic Depression?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/economic-indicators/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Are Economic Indicators?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Gold bars 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hover:text-cyan-800 text-gray-1100" href="/terms/e/emerging-market-economy/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is an Emerging Market Economy?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="A hand writing the words EMERGING MARKETS." src="https://m.foolcdn.com/media/dubs/images/19_03_08_a_hand_writing_the_words_EMERGING_MAR.width-600.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is an Emerging Market Economy?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/earnings-call/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is an Earnings Call?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Person presenting a slideshow in an office." src="https://m.foolcdn.com/media/dubs/images/leadership_-_woman_presenting_slides.width-600.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is an Earnings Call?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/embezzlement/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is Embezzlement?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Businessman in handcuffs with hundreds of dollars on the table in front of him." src="https://m.foolcdn.com/media/dubs/images/1_Businessman_in_handcuffs_with_hundred_dollar.width-600.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is Embezzlement?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/etf-expense-ratio/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is a Good ETF Expense Ratio?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="An infographic explaining what a good ETF expense ratio is and what is not considered to be a good ETF expense ratio." src="https://m.foolcdn.com/media/dubs/images/etf-expense-ratio-infographic.width-600.png" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is a Good ETF Expense Ratio?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/expense-ratio/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is an Expense Ratio?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="A graphic explaining the expense ratio formula: Expense ratio equals management fees divided by total investment in the fund." src="https://m.foolcdn.com/media/dubs/images/expense-ratio-infographic.width-600.png" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is an Expense Ratio?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/ebitda/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is EBITDA and Why Does It Matter?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="An infographic defining and explaining EBITDA: earnings before interest, taxes, depreciation, and amortization." src="https://m.foolcdn.com/media/dubs/images/ebitda-infographic.width-600.png" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is EBITDA and Why Does It Matter?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/economic-profit/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="Economic Profit: Definition and How to Calculate" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Glass jars with coins in them" src="https://m.foolcdn.com/media/dubs/images/original_imageshttpsg.foolcdn.comeditorialimag.width-600_xnNtisF.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">Economic Profit: Definition and How to Calculate</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/enterprise-value/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is Enterprise Value and Why Is It Important?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="An infographic explaining the enterprise value formula: Enterprise value equals market cap + total debt minus cash." src="https://m.foolcdn.com/media/dubs/images/enterprise-value-infographic.width-600.png" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is Enterprise Value and Why Is It Important?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/earnings-per-share/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is Earnings Per Share (EPS)?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Infographic defining and showing the formula for earnings per share (EPS)" src="https://m.foolcdn.com/media/dubs/images/what-is-eps-earnings-per-share-infographic.width-600.png" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is Earnings Per Share (EPS)?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/earnings-season/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is Earnings Season?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Person wearing headphones while looking at spreadsheet on computer screen." src="https://m.foolcdn.com/media/dubs/images/Man_wearing_headphone_looking_at_spreadsheet_o.width-600.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is Earnings Season?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/enterprise-ethereum-alliance/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What is the Enterprise Ethereum Alliance?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Two men shaking hands" src="https://m.foolcdn.com/media/dubs/images/two_men_shaking_hands_GettyImages-865432310.width-600.jpg" loading="lazy" /> </div> <div 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Data security and encryption. Connected nodes, fintech. Abstract background." src="https://m.foolcdn.com/media/dubs/images/blockchain_visualization.width-600.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What is EOS?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/erc20/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What is ERC20?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="bitcoin crypto investor" src="https://m.foolcdn.com/media/dubs/images/original_imageshttpsg.foolcdn.comeditorialimag.width-600_oD6Vm07.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What is ERC20?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/exit-scam/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What is a Cryptocurrency Exit Scam?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Futuristic Conceptual Photo. 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lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/esg-rating/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is an ESG Rating?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Young adult smiling and wearing a t-shirt with the recycle logo on it." src="https://m.foolcdn.com/media/dubs/images/original_imageshttpsg.foolcdn.comeditorialimag.width-600_CS8hzxt.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is an ESG Rating?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/ethereum/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is Ethereum (ETH)?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Messy stacks of physical silver and gold Ethereum coins." src="https://m.foolcdn.com/media/dubs/images/Messy_stacks_of_physical_silver_and_gold_Ether.width-600.jpg" loading="lazy" /> </div> <div class="font-medium leading-normal text-h5 mt-16px">What Is Ethereum (ETH)?</div> </a> <a class="flex-shrink-0 block w-300 lg:w-1/4 px-12px carousel-tile hover:text-cyan-800 text-gray-1100" href="/terms/e/efficient-market-hypothesis/" data-track-action="foolcom_evergreen_click" data-source="foolcom_evergreen_click" data-track-category="evergreen_related_carousel" data-track-link="What Is the Efficient Market Hypothesis?" > <div class="bg-gray-100"> <img style="height:170px;" width="100%" height="100%" class="block object-cover" alt="Computer screen with world stock market data." src="https://m.foolcdn.com/media/dubs/images/stock_market_image.width-600.jpg" loading="lazy" /> </div> <div 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