ETFs for The Long Run

Preface
Acknowledgments

Chapter 1: ETFs - The Newfangled Mutual Funds
How ETFs Stack Up against Mutual Funds
Greater Flexibility
Lower Fees
More Tax Efficient
Greater Transparency
Precise Allocations
Investment in Alternative Asset Classes
One Caveat
Summary

Chapter 2: ETF History Lesson: How a New Type of Fund Was Born
A Short History of the Amex
The Father of the ETF
Philly Strikes First
Back to the Drawing Board
Along Came a Spider
The Birth of an Industry
Let's Do It Again
What Tangled Webs We Weave
Building a Business
Shine On, You Crazy DIAmonds
Arachnophobia?
Wedding Bells
The Biggest ETF Launch
All in the Family
The First Assault
If You Can't Beat 'Em, Join 'Em.
Builders and Bonds
Free Again

Chapter 3: The Evolution of the ETF
The Importance of a Broadly Diversified Portfolio
The Appeal of Investment Companies
Types of Investment Companies
Types of Mutual Funds
Running a Mutual Fund
The Creation of an ETF
Summary

Chapter 4: Index Fund-amentals
Why an Index?
Fund Management Options
The Rise of the Index Funds
The Big Index Companies
Indexes from the Stock Exchanges
Actively Managed ETFs
Summary

Chapter 5: Fee Bitten
Wall Street Produces Vintages
Looking for Low Management Fees
Summary

Chapter 6: The Better Mousetrap: How Can ETFs Charge So Little?
Transparent Costs of Mutual Funds
Hidden Costs of Mutual Funds
The Creation Unit: How They Make ETFs So Cheap
So Long, Transaction Costs
So What Costs Do ETFs Have?
Why Would I Ever Buy a Mutual Fund?
Summary

Chapter 7: The New Indexers
Missed Opportunity
Unfair Fight
BONY Builds a BLDR
The Name Is Bond
Rydex Rides In
Vanguard Makes a Splash
There's Power in Them There Shares
Mutual Fund Scandal Helps ETFs
PowerShares Becomes a Powerhouse … and Other Important Developments of 2005
The Buy-Out
Opening the Floodgates
The Fundamentalists
Grow, Baby, Grow
Summary

Chapter 8: The ETFs That Aren't ETFs: ETPs, ETVs, and ETNs
You've Got a HOLDR to Cry On
Exchange-Traded Notes
Commodity-Based ETVs
Money Makes the World Go 'Round
Summary

Chapter 9: Putting the "Trade" in Exchange-Traded Funds
Discount Brokers
The Actual Trade
Going Long to Go Short
Options on ETFs
Summary

Chapter 10: Building Your Own ETF Portfolio
The Simplest Portfolio
Assessing Your Risk
Strategic and Tactical Asset Allocation
Foundation Portfolios
Not Following the Herd
Tax-Loss Harvesting
Hiring an Investment Adviser
Summary

Chapter 11: The Future of ETFs
The NYSE-Amex Merger
Specialists and Seed Capital
Actively Managed ETFs
Entering the 401(k) Market
In Conclusion

Appendix: How to Decide Which ETFs Are Best for You

Notes
About the Author
Index