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When I turn 18 soon, I want to begin a DCA savings plan for a S&P 500 tracking index fund or ETF. But I can’t choose the better option. I know IFs will have lower overall commission but ETFs have lower expense ratios.
Any advice or suggestions are appreciated!
Also, if I choose FXAIX, how much will IB charge for monthly purchases in commissions? (if any)
Alternatively, is there a better and cheaper way to buy FXAIX or other index funds?
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Tan Choong Hwee
01 Jun 2021
Investor/Trader at Home
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Here is a 5-year comparison chart between VOO and FXAIX:
As you can see, both move in tandem, with VOO slightly ahead due to lower TER.
Not familiar with IB charges for mutual funds. You should contact them about the fees. Please be aware that IB has a minimum USD10 commission per month for account with less than USD100k.