I was planning on opening a Roth IRA at scottrade in December 2004 with 3k and putting it in either the VTSMX or VEXMX vanguard mutual fund, this idea came from research done here, thanks. Well I didn't get a chance to get to the Scottrade office, which turned out to be good since they started to charge for this purchase/sale. So, now I am trying to decide if I should go with Vanguard directly or buy ETF's at Scottrade. I am kinda new to this and if I don't have something quite right please correct me. Anyway the question, I looked up the ETF's that matched the Vangaurd Mfunds, VEXMX($30) = VXF($80) and VTSMX($28) = VTI($116) (do I have this right?) I read here that the returns from simular ETF's and Mfunds were about the same, and since most of the fund gains come from increase in price (is this right?) it would seem to me since the ETF's have a much higher price than the Mfunds that I would be able to buy much less of the ETF's and if their increases are at the same rate wouldn't I make a lot more money in the Mfunds since I would have more shares to increase ? I sure I am missing something here, can some one explain help me understand this. Thanks.