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Exchange-Traded Funds (ETF)

Exchange-Traded Funds (ETF) Definition

a type of an investment company (either an open-end company or uit) whose objective is to achieve the same return as a particular market index. etfs differ from traditional open-end companies and uits, because, pursuant to sec exemptive orders, shares issued by etfs trade on a secondary market and are only redeemable from the fund itself in very large blocks (blocks of 50,000 shares for example).




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