Since exchange-traded funds (ETFs) made their U.S. debut in 1993, they have grown to a market of more than $1 trillion.

Those investing in ETFs enjoy it because ETFs provide diversification to portfolios, are tax-efficient, come at a low cost, and are readily available.

ETFs are also appealing because you can find them at any time: they’re bought and sold from brokerage firms and they trade on exchanges similar to stocks.

Another attractive aspect to ETF investors is when they exit the product, the shares are sold to an investor; the fund doesn’t have to sell assets.

One investment adviser and decade-long ETF user, Mark Armbruster, told The Wall Street Journal, “From my perspective, it is the most compelling reason to use ETFs. If they’re managed appropriately, there should never be capital-gains distributions.”

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