Exchange-traded funds are about to celebrate their birthday and in many cases it has been investors who have had reason to celebrate.

SPDR launched the original ETFs in Australia on August 27, 2001, the SPDR S&P/ASX 200 and the SPDR S&P/ASX 50 funds. In the ensuing 15 years the ETF market has broadened and deepened to the extent that for many investors, ETFs now constitute an indispensable part of their portfolio.