Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Bond ETFs vs actual bonds
As keshlam said, an ETF holds various assets, but the level of diversification depends on the individual ETF. A bond ETF can focus on short term bonds, long term bonds, domestic bonds, foreign bonds, government bonds, corporate bonds, low risk, high risk, or a mixture of any of those. Vanguard Total International Bond ETF (BNDX) for instance tries to be geographically diverse.