Exchange-traded funds, once the province only of institutional investors, are increasingly resonating with wealthy investors, The Wall Street Journal reports.

A recent Cogent Research survey showed that 11% of wealthy investors now own an ETF, up from 9% a year ago. In addition, younger and wealthier investors tend to gravitate to ETFs more than other investors. In addition, investors favor low-cost ETFs, particularly those from Vanguard, as well as leveraged ETFs.

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