202 Pages Posted: 9 Jun 2015 Last revised: 11 Jun 2015
Date Written: May 1, 2015
Exchange-traded funds (ETFs) have become in their 25-year history one of the fastest growing segments of the investment management business. These funds provide liquid access to virtually every financial market and allow large and small investors to build institutional-caliber portfolios. Yet, their management fees are significantly lower than those typical of mutual funds. High levels of transparency in ETFs for holdings and investment strategy help investors evaluate an ETF’s potential returns and risks. This book covers the evolution of ETFs as products and in their uses in investment strategies. It details how ETFs work, their unique investment and trading features, their regulatory structure, how they are used in tactical and strategic portfolio management in a broad range of asset classes, and how to evaluate them individually.
Keywords: ETF, exchange traded fund
JEL Classification: G1, G2
Suggested Citation: Suggested Citation
Hill, Joanne M. and Nadig, Dave and Hougan, Matthew, A Comprehensive Guide to Exchange Traded Funds (May 1, 2015). CFA Institute Research Foundation. Available at SSRN: https://ssrn.com/abstract=2616223