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index portfolios that you buy or sell just like stocks. The best of them are super-cheap-iShares S&P 500 Index (IVV) costs 0.09% a year, half the price of the Vanguard 500-and they can be traded instantly, sold short, or bought on margin. And ETFs track an astonishing variety of indexes, from biotech to Brazilian stocks.
| Index Fund | Expense Ratio | Typical Commission |
| Vanguard 500 index | 0.18% | None |
| iShares S&P 500 index | 0.09% | $4 to $30 per trade* |
*The commission on an automatic investment plan is $4; the top base rate for one national discount brokerage is $30.
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Chicago Board Options Exchange
Individuals, institutions and firms engaged in the buying and selling of various products including stock options, cash-settled index options, options on HOLDRs, options on Exchange Traded Funds and Structured Products.
Founded: 1973
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