Investing

  1. Investment Vehicles
    1. Mutual Funds
      1. How Mutual Funds Work
        1. Pooling of Investor Funds
          1. Economies of Scale
            1. Diversification Benefits
            2. Professional Management
              1. Portfolio Manager Role
                1. Research Teams
                  1. Investment Committee Process
                2. Net Asset Value (NAV)
                  1. Calculation of NAV
                    1. Daily Pricing
                      1. Asset Valuation Methods
                    2. Actively Managed Funds vs. Passively Managed Funds
                      1. Management Styles
                        1. Active Stock Selection
                          1. Index Tracking
                          2. Performance Considerations
                            1. Alpha Generation
                              1. Tracking Error
                                1. Manager Risk
                              2. Fund Fees and Expenses
                                1. Expense Ratios
                                  1. Management Fees
                                    1. Administrative Costs
                                      1. Impact on Returns
                                      2. Front-End Loads
                                        1. Sales Charges
                                          1. Breakpoint Discounts
                                          2. Back-End Loads
                                            1. Contingent Deferred Sales Charges
                                              1. Declining Schedule
                                              2. 12b-1 Fees
                                                1. Marketing and Distribution
                                                  1. Ongoing Service Fees
                                                2. Types of Mutual Funds
                                                  1. Equity Funds
                                                    1. Growth Funds
                                                      1. Value Funds
                                                        1. Blend Funds
                                                          1. Sector Funds
                                                            1. International Funds
                                                            2. Bond Funds
                                                              1. Government Bond Funds
                                                                1. Corporate Bond Funds
                                                                  1. Municipal Bond Funds
                                                                    1. High-Yield Bond Funds
                                                                    2. Balanced Funds
                                                                      1. Asset Allocation Funds
                                                                        1. Target-Date Funds
                                                                          1. Conservative Allocation
                                                                          2. Money Market Funds
                                                                            1. Government Money Market
                                                                              1. Prime Money Market
                                                                                1. Municipal Money Market
                                                                              2. Share Classes
                                                                                1. Class A Shares
                                                                                  1. Class B Shares
                                                                                    1. Class C Shares
                                                                                      1. Institutional Shares
                                                                                    2. Exchange-Traded Funds (ETFs)
                                                                                      1. Structure and Creation/Redemption Mechanism
                                                                                        1. Authorized Participants
                                                                                          1. In-Kind Transactions
                                                                                            1. Arbitrage Mechanism
                                                                                            2. Comparison with Mutual Funds
                                                                                              1. Trading Flexibility
                                                                                                1. Intraday Trading
                                                                                                  1. Market Orders
                                                                                                    1. Limit Orders
                                                                                                    2. Tax Efficiency
                                                                                                      1. In-Kind Redemptions
                                                                                                        1. Lower Capital Gains Distributions
                                                                                                        2. Cost Differences
                                                                                                          1. Lower Expense Ratios
                                                                                                            1. No Load Fees
                                                                                                          2. Types of ETFs
                                                                                                            1. Index ETFs
                                                                                                              1. Broad Market ETFs
                                                                                                                1. Sector ETFs
                                                                                                                  1. Style ETFs
                                                                                                                  2. Sector ETFs
                                                                                                                    1. Technology ETFs
                                                                                                                      1. Healthcare ETFs
                                                                                                                        1. Financial ETFs
                                                                                                                        2. Bond ETFs
                                                                                                                          1. Government Bond ETFs
                                                                                                                            1. Corporate Bond ETFs
                                                                                                                              1. International Bond ETFs
                                                                                                                              2. Commodity ETFs
                                                                                                                                1. Precious Metals ETFs
                                                                                                                                  1. Energy ETFs
                                                                                                                                    1. Agricultural ETFs
                                                                                                                                    2. Thematic ETFs
                                                                                                                                      1. ESG ETFs
                                                                                                                                        1. Dividend ETFs
                                                                                                                                          1. Growth ETFs
                                                                                                                                        2. ETF Trading Considerations
                                                                                                                                          1. Bid-Ask Spreads
                                                                                                                                            1. Premium and Discount to NAV
                                                                                                                                              1. Trading Volume
                                                                                                                                            2. Index Funds
                                                                                                                                              1. Tracking a Market Index
                                                                                                                                                1. S&P 500 Index Funds
                                                                                                                                                  1. Market Cap Weighting
                                                                                                                                                    1. Rebalancing Process
                                                                                                                                                    2. Total Market Index Funds
                                                                                                                                                      1. Broad Diversification
                                                                                                                                                        1. Small-Cap Inclusion
                                                                                                                                                        2. International Index Funds
                                                                                                                                                          1. Developed Market Indices
                                                                                                                                                            1. Emerging Market Indices
                                                                                                                                                          2. Low-Cost Investing
                                                                                                                                                            1. Expense Ratios
                                                                                                                                                              1. Cost Advantages
                                                                                                                                                                1. Long-Term Impact
                                                                                                                                                                2. Tracking Error
                                                                                                                                                                  1. Minimizing Deviations
                                                                                                                                                                    1. Sampling Strategies
                                                                                                                                                                  2. Index Construction Methods
                                                                                                                                                                    1. Market Cap Weighting
                                                                                                                                                                      1. Equal Weighting
                                                                                                                                                                        1. Fundamental Weighting
                                                                                                                                                                      2. Target-Date Funds
                                                                                                                                                                        1. Glide Path Concept
                                                                                                                                                                          1. Age-Based Asset Allocation
                                                                                                                                                                            1. Risk Reduction Over Time
                                                                                                                                                                              1. To vs. Through Retirement
                                                                                                                                                                              2. Automatic Rebalancing
                                                                                                                                                                                1. Periodic Adjustments
                                                                                                                                                                                  1. Maintenance-Free Investing
                                                                                                                                                                                  2. Suitability for Retirement Planning
                                                                                                                                                                                    1. 401(k) Default Options
                                                                                                                                                                                      1. Simplified Decision Making
                                                                                                                                                                                        1. Professional Management
                                                                                                                                                                                        2. Limitations and Considerations
                                                                                                                                                                                          1. One-Size-Fits-All Approach
                                                                                                                                                                                            1. Expense Ratios
                                                                                                                                                                                              1. Underlying Fund Quality
                                                                                                                                                                                            2. Individual Securities
                                                                                                                                                                                              1. Direct Stock Ownership
                                                                                                                                                                                                1. Stock Selection Process
                                                                                                                                                                                                  1. Research Requirements
                                                                                                                                                                                                    1. Portfolio Concentration Risk
                                                                                                                                                                                                    2. Direct Bond Ownership
                                                                                                                                                                                                      1. Bond Laddering Strategies
                                                                                                                                                                                                        1. Credit Analysis Needs
                                                                                                                                                                                                          1. Interest Rate Risk Management
                                                                                                                                                                                                          2. Risks and Benefits
                                                                                                                                                                                                            1. Control and Flexibility
                                                                                                                                                                                                              1. Cost Considerations
                                                                                                                                                                                                                1. Diversification Challenges

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                                                                                                                                                                                                            3. Major Asset Classes

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                                                                                                                                                                                                            5. Security Analysis and Valuation