An exchange-traded fund (“ETF”) provides securities that offer institutional investment strategies, such as those offered by a mutual fund, but makes them available on security exchanges, just like stocks.1 Consequently, this unique and dynamic investment vehicle has grown rapidly since the first ETF began operation in 1993.2 $1.4 trillion of net new ETF shares have…
Tag: ETF
Exchange-Traded Funds (ETFs): Creation, Operation, and Organization under the Investment Company Act of 1940
An exchange-traded fund (“ETF”) provides securities that offer institutional investment strategies, such as those offered by a mutual fund, but makes them available on security exchanges, just like stocks.1 Consequently, this unique and dynamic investment vehicle has grown rapidly since the first ETF began operation in 1993.2 $1.4 trillion of net new ETF shares have…