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Ben Johnson

Ben Johnson, CFA, is director of global exchange-traded fund research for Morningstar. Follow Ben on Twitter: @MstarETFUS

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Even plain-vanilla index funds that track the S&P 500 are making some active bets that investors need to be aware of, says Morningstar's Ben Johnson.

Liquidity, transparency, and tax efficiency are hallmarks of ETFs, but Ben Johnson says some of these benefits can be oversold.