Which of the following combines some of the operating characteristics of an open-end fund with some of the trading characteristics of a closed-end fund?

Question

Quizplus · Accepted Answer

Exchange-traded funds (ETFs) combine some of the operating characteristics of an open-end fund (such as the ability to buy and sell shares at any time based on the net asset value of the underlying securities) with some of the trading characteristics of a closed-end fund (such as the ability to be traded on an exchange throughout the trading day). Preferred, common, net asset, and unit investment funds do not have the same characteristics as ETFs.

Which of the Following Combines Some of the Operating Characteristics