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Index Fund

A fund that passively tracks a market index, offering broad diversification at very low cost.

An index fund holds the same securities as a benchmark index, such as the S&P 500, aiming to match its performance rather than beat it. Because there is no active stock-picking, management fees are minimal, often a fraction of what actively managed funds charge. Decades of data show that low-cost index funds outperform most active managers over the long run. They are the cornerstone of passive, buy-and-hold investing and pair naturally with dollar-cost averaging. An ETF is one common way to hold an index fund.

Example

A broad index fund with a 0.1% annual fee costs just $10 per year on a $10,000 investment, versus $150 for a typical 1.5% actively managed fund.

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