Choosing between ETFs and mutual funds ... - Vanguard

whether the structure is an ETF or mutual fund. 3 Figure 1. Mutual fund and ETF investors display similar allocations Notes: Asset classes are represented by Morningstar’s “U.S. Category Group” designation. Data reflect funds that existed as of June 30, 2015. Sources: Vanguard calculations, based on data from Morningstar Direct. ................
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