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Index Fund Vs ETF: Does It Matter?

From the Novel Investor site:

Index Fund vs ETFs Cost Debate
  • Given the choice between ... an index fund vs ETF ... that meet the same goal, costs are a big deciding factor. The same principle works for the active vs index argument too. Why pay more for something when you get the same results for less? ...
  • Once you decide on an all index portfolio, the next step is picking between similar index funds and ETFs. Both do [more or less] the same thing... So is one better than the other? Are there other factors to consider?
(Author then provides simple example of the decision-making and portfolio construction process. Along the way, he provides links to his reviews of ETF and Mutual Fund screeners.)
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