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Investopedia explains 'Vanguard Exchange-Traded Funds'
Vanguard looks to bring its leadership in the passive management market to the ETF space with this class of low-cost funds. Most of the underlying indexes are Morgan Stanley (MSCI) indexes, which cover not only equity sectors of the economy, but also small-, mid- and large-cap equity indexes. There are also ETFs for broad-based market indexes such as the Wilshire Composite (a unit of Dow Jones), which tracks more than 3,500 stocks.
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