The ETF: Trade It Like a Stock, Hold It Like an Index Fund

Podcast: Money Lessons with Andrew Temte, PhD, CFA · Andrew Temte

Opublikowano: 2026-07-03

In this episode of Money Lessons, Andy explains the exchange-traded fund — the ETF — the vehicle most people now use to own a whole index in a single trade. He traces it back to the first one, State Street's SPDR, launched in 1993 to track the S&P 500, and shows how an ETF differs from the index mutual fund Jack Bogle created in 1976: one trades all day on an exchange like a stock, the other prices just once, after the close. Andy pulls back the curtain on the creation-and-redemption process — the quiet arrangement with large firms that does the...