When the first exchange-traded fund (ETF) hit the market in 1990, it caused barely a ripple in the world of investing. But if ETFS continue to enjoy the spectacular rates of growth they have seen over the past five years that year may one day be seen as one of the asset-management industry's milestones, along with such landmarks as 1774 (when a Dutch merchant cobbled together the earliest mutual-style fund, Eendragt Maakt Magt, or Unity Greates Strength) and 1924 (the launch in Boston of the first modern mutual fund).
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机译：当1990年第一只交易所买卖基金（ETF）上市时，它几乎没有引起投资界的涟漪。但是，如果ETFS继续享有惊人的增长率，那一年过去五年来，它们有一天可能会被视为资产管理行业的里程碑之一，以及诸如1774年这样的里程碑（当一位荷兰商人拼凑了最早的共同型基金Eendragt Maakt Magt或Unity Greates Strength）和1924年（第一个现代共同基金在波士顿成立）。
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