What Is An Index Fund?

I recommend investing in index funds and ETFs. But what is an index fund? I didn't like the definitions I found online, so I explained it here and I hope it helps.

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What Is An Index Fund?
You’ve likely heard of index funds. Perhaps you’ve seen a definition online that reads something like this: “An index fund is a type of mutual fund or exchange-traded fund (ETF) with a portfolio constructed to match or track the components of a financial market index, such as the Standard & Poor’s…