So, just trying to blow smoke up my ass.
Not at all, was just stating an opinion. But I can give you a practical reason for my opinion.
The way mutual funds are structured, if — worst case scenario — a mutual fund were to dissolve, each investor in that fund would receive his or her proportional share of each underlying holding within the fund.
In the case of ETFs, there is a distinct barrier between investors and a fund’s holdings; meaning that an investor owns the basket, but not what’s in it.
While there are some large institutional investors, termed “authorized participants,” which can create or redeem ETF shares through in-kind transactions, the majority of the investing public does not have this privilege. If an ETF goes bust, the average investor is left holding nothing but an empty promise.
I could get into the long term effects of trading fees in an actively managed portfolio of ETFs, which are considerable, but I sense I'm getting long winded here.