Understanding the ETF bid/ask spread

11/9/2017 Webcast: ETFs--What you need to know
Price is an important factor when making any investment decision. With ETFs (exchange-traded funds), there’s a bid-ask spread to help you find that best offer. Vanguard investing experts, Josh Hirt and Rich Powers, explain the dynamic pricing of ETFs and what you should consider.
Important Information
All investing is subject to risk, including the possible loss of the money you invest.
This webcast is for your educational purposes only. We recommend that you consult a tax or financial advisor about your individual situation.
Diversification does not ensure a profit or protect against a loss.
Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk.
Vanguard ETF Shares are not redeemable with the issuing Fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.
For more information about Vanguard funds or Vanguard ETFs, visit vgi.vg/2kgjLHu to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.
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