Exchange Traded Funds (ETF’s) are similar to mutual funds in that they generally invest in a basket of stocks. However, that is where the similarities end. ETF’s offer lower expense ratios and are more tax efficient than mutual funds due to their low turnover. The Spielberger Group invests most of it’s clients assets in ETF’s as they present better investment opportunities. ETF’s offer a wide variety of diversification. There are hundreds of ETF’s that cover every major index, sector, and international market. These types of investments are also more liquid than mutual funds as they can be traded at any time during the trading day like an equity, where as mutual funds are traded at the end of each trading day. ETF’s also offer clients of The Spielberger Group a unique opportunity to hedge their investments with covered call writing strategies. Covered calls can only be written against equity type positions. Although this type of strategy does not protect against all losses, it does help to minimize losses.