Exchange-Traded Fund

Exchange-Traded Funds (ETFs) are listed investment vehicles allowing investors to invest in a wide array of equities, bonds, indexes, currencies and commodities through a fund structure that offers constant two-way liquidity. They are popular with retail because of their low fee structures. ETFs can be managed passively or actively or can be managed according to specific investment styles such as short-selling and leveraging up. Some ETFs hold thousands of underlying securities.