Exchange Traded Funds are competitors of mutual funds, right?  Looks like there are some fund managers out there who are taking advantage of the competition.  There are approximately 80 stock fund managers who are investing more than 5% of their fund assets in ETFs.  It seems odd, but if it works for the manager’s investment strategy, there isn’t really anything wrong with that.  But if the manager underperforms his/her benchmark, why would you pay the manager to pick stocks? Why not just buy the ETF?

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