Actively Invested ETFs

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Exchange-traded funds actively managed like mutual funds first appeared in the U.S. in 2008. Today, you can find long lists of them online.

Some are priced as bargains. The founder of Vanguard, John C. Bogle, doesn’t like them—and I’ve not much liked him since the 1980s, when he publicly opposed Investors’ trading of no-load funds via telephone. He preferred trading by snailmail.

After Bogle retired as Vanguard’s CEO in 1999, his successor, John Brennan, piloted the formation of ETFs, notably including actively managed ETFs.

Vanguard now provides free updates of its long list of funds by category, including bond funds, domestic stock funds, and global stock funds. At this writing, VIG and VYM, its high-dividend ETFs, are up 11.78% and 14.20% year to date. Comparable yields, and higher, are found on ETFdatabase, among other resources.

Several discount brokers offer ETFs free of commissions—though not all are free of expense. But then stocks and bonds, too, have costs they pass along to investors.

Never forget: All investments and savings are gambles on the unknown future and thus subject to loss.