Let’s take a step back and see what we’ve learned. We’ve learned that ETFs charge smaller fees than mutual funds or hedge funds. Moreover, ETFs are more efficiently priced than closed-end funds because authorized participants use arbitrage to bring the ETF share prices in line with the underlying stocks. We hope you have gained a better understanding of how ETFs work as you’ll be working on ETFs in your project for this module. Congrats on making it through this lesson and good luck on the next lesson.