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Passive's Active Role in Market Behavior

Vanguard's Fran Kinniry says investors are more focused on costs than ever before, leading to greater inflows to index funds and ETFs.

Christine Benz: Hi, I'm Christine Benz for Morningstar.com. Is the growth in passive products affecting how the market behaves? I recently had a chance to discuss that topic with Fran Kinniry. He is a principal in Vanguard's Investment Strategy Group.

Fran, thank you so much for being here.