Exchange Traded Funds (ETF) are funds of unlimited duration listed on the stock exchange; they are traded constantly during the stock market’s business hours. In most cases, ETF aim to emulate a specific index at 1:1 and to offer ETF investors exactly the same risk / return profile as the underlying asset (ETF handbook SIX). ETF are therefore listed securities which make it possible to trade an index in the same way as a share. ETF are passive investment vehicles. They do not aim to outperform (alpha) a benchmark, but to offer low-price access to market performance (beta). Best of both worlds: as ETF are normal index funds (investment funds), investors are protected by law (CISA) and by the supervisory authorities (FINMA).
German: Exchange Traded Funds (ETF) (324)
Source: SFO D15 2010 m. e. E., 24.04.2010