共同基金vs. 交易所交易基金
The growth of exchange-traded funds (交易所交易基金) has been explosive. In 2006, 少于1个,000; by 2023, 差不多有10个,他AG捕鱼王新版app下载于各种各样的股票, 债券, 以及其他证券和工具.1
乍一看，etf与共同基金有很多共同之处. Both offer shares in a pool of investments designed to pursue a specific investment goal. And both manage costs and may offer some degree of diversification, 取决于他们的AG捕鱼王新版app下载目标. Diversification is an approach to help manage investment risk. It does not eliminate the risk of loss if security prices decline.
结构上的差异
共同基金 accumulate a pool of money that is then invested to pursue the objectives stated in the fund's prospectus. 库存的结果集合, 债券, and other securities is professionally managed by an investment company.
etf的工作方式正好相反. 一家AG捕鱼王新版app下载公司创建了一家新公司, into which it moves a block of shares to pursue a specific investment objective. 例如, an investment company may move a block of shares to track the performance of the Standard & 可怜的500. The investment company then sells shares in this new company.2
交易所交易基金 trade like stocks and are listed on stock exchanges and sold by broker-dealers. 共同基金, 另一方面, are not listed on stock exchanges and can be bought and sold through a variety of other channels — including financial professionals, 经纪公司, 而且直接来自基金公司.
The price of an ETF is determined continuously throughout the day. It fluctuates based on investor interest in the security and may trade at a "premium" or a "discount" to the underlying assets that comprise the ETF. 大多数共同基金在交易日结束时定价. So, no matter when you buy a share during the trading day, its price will be determined when most U.S. 证券交易所通常闭市.
税收差异
还有税收方面的差异. 因为大多数共同基金被允许交易证券, the fund may incur a capital gain or loss and generate dividend or interest income for its shareholders. With an ETF, you may only owe taxes on any capital gains when you sell the security. (An ETF also may distribute a capital gain if the makeup of the underlying assets is adjusted).3
Determining whether an ETF or a mutual fund is appropriate for your portfolio may require an in-depth knowledge of how both investments operate. In fact, you may benefit from including both investment tools in your portfolio.
Amounts in mutual funds and 交易所交易基金 are subject to fluctuation in value and market risk. Shares, when redeemed, may be worth more or less than their original cost.
共同基金 and exchange-traded funds are sold only by prospectus. Please consider the charges, risks, expenses, and investment objectives carefully before investing. A prospectus containing this and other information about the investment company can be obtained from your financial professional. 在你AG捕鱼王新版app下载或汇款之前仔细阅读它.
一瞥
共同基金 and exchange-traded funds have similarities — and many differences. 下面的图表给出了一个简短的概述.
1. ETFGI.2023年1月12日
2. 标准的 & 可怜的500 Composite Index is an unmanaged index that is generally considered representative of the U.S. 股票市场. Index performance is not indicative of the past performance of a particular investment. 过去的表现不能保证未来的结果. 个人不能直接AG捕鱼王新版app下载于指数.
3. Investopedia.2023年5月24日
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. 请咨询法律或税务专业人士 获取有关您个人情况的具体信息. This material was developed and produced by 消费品套件 to provide information on a topic that may be of interest. 消费品套件不隶属于指定的经纪自营商, 国家或证券交易委员会注册的AG捕鱼王新版app下载咨询公司. 所表达的意见和 所提供的资料仅供一般参考, and should not be considered a solicitation for the purchase or 出售任何证券. 版权 消费品套件.
