Apart from the volume characteristic this doesn't seem to hold. Vanguard creates ETFs on diversified baskets of stocks picked(rules based) by other people eg: S&P, Nasdaq etc. YC actually has to review each and every application and independently determine whether to accept them.

At a push, I'd go with - Investing in stocks:Vanguard :: Investing in companies : Random funds that will only invest if you have a brand-name lead investor