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Is there some sort of catch with the Schwab ETF? If it does as good a job at tracking the market as the SPY or Vanguard, it seems like the perfect solution.

The 'catch' --if you want call it that-- is that if you sell shares sooner than the mandatory holding-period --which will vary from broker to broker among those who offer commish-free ETFs -- you will have have to pay the commish that would have otherwise been charged to you.

Scottrade, AmeriTrade, Fidelity, and Schwab all offer a selection of commish-free ETFs, and maybe other brokers as well. So shop around.
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