Greg Ehret is principal with the exchange-traded funds division of State Street Global Advisors of Boston. Ehret recently discussed the growing popularity of exchange-traded funds, some of their advantages and drawbacks, and their future in the industry with Mutual Fund Market News reporter, Andrew Brent. An edited account of their conversation follows.

MFMN: What sparked the relatively sudden growth of exchange-traded funds? They have been available since 1993, so what has changed?

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