ETFs offer exceptionally low expenses, outstanding performance, and unparalleled transparency. With over 200 new ETFs added in just the last year, for typical investors, the variety is simply overwhelming. With this new edition one of the field's leading experts cuts through the ETF marketing hype, offering a start-to-finish plan for choosing the right ETFs, today and for years to come. Dr. Marvin Appel reveals what ETFs can and can't do, explains why they're not all equally attractive, and shows exactly how to use them to beat the market, year after year. Drawing on objective data and proven, back-tested strategies, Appel shows how to quickly move into the right ETFs at the right time, consistently staying on the winning side of major market trends. Appel starts by explaining how ETFs work, then illuminates every facet of ETF investing: quantifying potential risk and reward; using ETFs to improve diversification; implementing simple 'active strategies'; deciding when to move from ETFs into cash; and much more. This book includes a full chapter on international ETF investing, as well as the most clear-headed assessment of tax-oriented ETF investing ever written. From start to finish, this book candidly assesses risks, costs, and rewards - helping you become an informed ETF consumer, and an exceptionally effective ETF investor.