Jeff, thanks for the heads-up.  I think most (though certainly not all) on this forum are most interested in ETFs that are based on indexes.  Since this is a Vanguard forum, many invest in Vanguard ETFs.  As I understand it, the V ETFs are tied to their mutual funds and are unlike most others that are stand alone.  Has M* done an analysis of the pros and cons of tied vs stand alone ETFs, tax or otherwise?