I am not sure about the point of this article.

ETFs are another, possibly less expensive and more tax - efficient, form of OEFs (Open Ended Funds). Like OEFs, ETFs come in all flavors - index funds and actively managed funds. I have seen more in EFTs than OEFs is factor funds, "rules-based" funds and theme-based funds.

As an Adviser, I view the ETF proliferation positively. ETFs offer several attractions over OEFs. With ETFs, I don't have to try and figure which share class is least expensive for the client. ETF management fees tend to be lower than for an equivalent OEF. As with OEFs, some ETF investors will lose, some will profit but with ETFs there are no hidden sales fees or multiple share classes.