Institution allowed to create and redeem ETF shares directly with the ETF issuer.
Funds & ETFs terms
Plain-English definitions for trading, broker safety, market structure, and risk terms.
ETF
Funds & ETFsExchange-traded fund
Fund traded on an exchange, usually tracking an index or basket.
Mutual Fund
Funds & ETFsInvestment fund
Pooled investment vehicle investing money from many investors.
NAV
Funds & ETFsNet Asset Value
Value of fund assets minus liabilities, usually stated per share.