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ETFs are a type of mutual fund, correct?
Your question is one of semantics.  ETFs and mutual funds have many things in common and provide essentially the same service to investors with minimal differences.  It's reasonably correct to say "An ETF is a mutual fund that..." and then follow up with some stuff that is not true of a typical mutual fund.  You could do the same with, for example, a hedge fund.  "A hedge fund is a mutual fund that doesn't comply with most SEC regulations and thus is limited to accredited investors." As a matter of practice, when people say "mutual fund" they are talking about traditional mutual funds and pretty much never including ETFs.  So is an ETF a mutual fund as the word is commonly used?  No.