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ETFs are generally lower costs from the standpoint of operations and administration.
For the most part, ETFs are less costly than mutual funds. Mutual funds charge a combination of transparent and not-so-transparent costs that add up. It's simply the way they are structured. ETFs have transparent and hidden fees as well—there are simply fewer of them, and they cost less.
ETFs typically can be purchased and sold for the same kind of commission that is charged for trading stocks or other securities. For this reason, they can be much cheaper to buy than open-ended mutual funds as long as a large amount is being traded. ETFs do not offer breakpoint sales like traditional load funds.
ETFs are generally lower costs from the standpoint of operations and administration. So you'll have a lower cost of running that fund which ends up being a lower cost product for investors.
They’re making it cheaper for investors to get access across the world. When you make it cheaper to get access you put more money back in the investor's pocket. I don't think there's anything better than put more money back in the investor's pocket.
In general what we have what we're finding is that ETF are generally a better product for individual and institutional investors. And we are seeing the money flows from mutual funds into ETF.
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