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ETF or Traditional Index Fund: Which Is More Tax-Efficient?

Ben Johnson examines tax cost and tax efficiency by fund type.

Christine Benz: Hi, I'm Christine Benz for Morningstar. Investors have gravitated to exchange-traded funds for a variety of reasons, including tax efficiency. Joining me to share some research on the tax efficiency of various fund types is Ben Johnson. He's director of global ETF research for Morningstar.

Ben, thank you so much for being here.