Core Insights - The introduction of exchange-traded funds (ETFs) in Canada in 1990 and their debut in the U.S. in 1993 marked a significant development in investment options, with the first U.S. ETF being the SPDR S&P 500 ETF [1][2] Growth of ETFs - ETFs have seen explosive growth, with a record $1.5 trillion invested in them in 2025, largely due to their nature as index funds and ease of trading [2] Investment Options - Vanguard is highlighted as a leading provider of ETFs, known for low fees and a variety of options suitable for different investor objectives [3][9] Broad-Market Index Funds - Key broad-market index funds include: - Vanguard S&P 500 ETF (VOO) with a 1.13% dividend yield and 5-year average annual return of 14.76% - Vanguard Total Stock Market ETF (VTI) with a 1.12% dividend yield and 5-year average annual return of 13.41% - Vanguard Total World Stock ETF (VT) with a 1.83% dividend yield and 5-year average annual return of 11.24% [5][6] Dividend and Income ETFs - ETFs focused on income through dividends include: - Vanguard Total Bond Market ETF (BND) with a 3.86% yield and a 5-year average annual return of (0.27%) - Vanguard Dividend Appreciation ETF (VIG) with a 1.62% yield and a 5-year average annual return of 11.67% - Vanguard High Dividend Yield Index Fund ETF (VYM) with a 2.44% yield and a 5-year average annual return of 12.72% [8][10]

Core Insights - Warren Buffett's name is synonymous with Berkshire Hathaway, but he also holds a separate portfolio of ETFs managed by New England Asset Management [1][2][3] - Buffett is expected to retire soon, with Greg Abel set to take over, although Buffett will remain involved as chairman and controlling shareholder [2] - The upcoming Q4 2025 13F report will be the last one under Buffett's leadership as CEO [2] ETF Portfolio Overview - The ETFs in Buffett's secret portfolio include iShares Core MSCI EA (IEFA), Vanguard High Dividend Yield Index Fund ETF (VYM), and iShares Core MSCI International Developed Markets ETF (IDEV) [1][3] - The top two holdings in the portfolio are SPDR S&P 500 ETF Trust (SPY) and Vanguard S&P 500 ETF (VOO), which together account for a 16.13% exposure to the S&P 500 [4] iShares Core MSCI EA (IEFA) - IEFA provides exposure to developed-market stocks outside the U.S. and Canada, tracking the MSCI EAFE IMI Index [6] - It has outperformed both the S&P 500 and Nasdaq-100 year-to-date, with a gain of 27.8% and a dividend yield of 3.5% [8] - New England Asset Management allocates 6.37% of its portfolio to IEFA, valued at $48.7 million, with a 35.23% increase in holdings in Q3 [8] Vanguard High Dividend Yield Index Fund ETF (VYM) - VYM tracks the FTSE High Dividend Yield Index, focusing on U.S. stocks with above-average dividend yields [9] - It has increased by 13.74% over the past year, with a dividend yield of 2.41% and an expense ratio of 0.06% [10][11] - VYM constitutes 4.62% of NEAM's portfolio, valued at $35.37 million, with a 1.77% increase in holdings in Q3 [11] iShares Core MSCI International Developed Markets ETF (IDEV) - IDEV targets developed markets internationally, tracking an MSCI "World ex USA" index, including Canada [12] - It has gained 28.6% year-to-date, with a lower expense ratio of 0.04% and a dividend yield of 3.38% [12] - IDEV makes up 4.41% of NEAM's portfolio, valued at $33.72 million, with a 30.1% increase in holdings in Q3 [13]