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I have a few of Vanguard's Indexers. Nowadays, they (and others) are available as Exchange Traded Funds. Is there any advantage to one or the other?

What I've found is that most ETFs have a lower annual fee than the corresponding mutual fund. So, if you're just holding on to a large position for a long time, the ETF is lower overall cost. If you're putting money in each paycheck, the transaction fee to buy into several different ETFs can be higher than what you save via the lower annual fees. But, with fees going down, that might not matter soon (or even now, depending on where you money is). If your money is at Fidelity, it's hard to beat their zero-fee funds (if those indexes are what you want to invest in).

So, I hold a few ETFs in my IRA and the brokerage window of my 401k, but my contribution each pay check goes to mutual funds. The periodic rebalancing often increases the amount I transfer to the brokerage window, so over time I've gotten more in ETFs and less in funds.
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