An ETF, or exchange-traded fund, is an investment that’s built like a mutual fund but trades like an individual stock. Like mutual funds, ETFs are professionally managed baskets of many securities, so they're diversified (meaning that they contain a lot of different types of securities that all behave differently). Most are designed to closely track the performance of a market benchmark or index — like the S&P 500, for example.
Unlike mutual funds, which are only traded once at the end of the day, ETFs can be traded throughout the day. They trade like stocks — you can buy or sell your investment in an ETF whenever the markets are open.
You can see a list of the funds that may be included in Ellevest Digital and Premium investment portfolios here.