How to Read an ETF Prospectus…and Not Go Cross-Eyed

“Always consult the fund’s prospectus before investing.” So goes the generic tag-line accompanying every exchange-traded fund’s (ETF’s) advertisement. It’s become such a customary phrase by now that most investors just glance over it and never once crack open the all-important document. However, they may be doing themselves a huge disservice by not consulting an ETF’s prospectus.