The Exchange-Traded Funds Manual
With the enormous popularity and widespread acceptance of exchange-traded funds (ETFs) over the past several years, advisors and individual investors alike have sought out a definitive guide to this innovative, exciting new class of funds -- and the Frank J. Fabozzi series has responded. Written by ETF expert Gary Gastineau, The Exchange-Traded Funds Manual provides a detailed description of "open-end" exchange-traded funds and how they work so that you can understand the reasons for ETF...
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The original edition of Gary Gastineau's The Exchange-Traded Funds Manual was one of the first books to describe and analyze ETFs. It made the case for the superiority of investor-friendly ETFs over mutual funds and helped investors select the best ETFs—which now hold more than $1 trillion of investor assets worldwide. But much has changed—in both the ETF marketplace and the general investment environment—since that time. That is why Gastineau has filled this Second Edition of The Exchange-Traded Funds Manual with new insights and expert advice. This new edition provides comprehensive coverage of the latest ETF offerings, evaluation techniques, regulatory and tax changes, and trading cost reduction methods. Page by page, this reliable resource offers a realistic evaluation of today's index ETFs; valuable insights on actively managed ETFs and new, improved index funds; as well as guidance in fund and advisor selection. Gastineau skillfully addresses these essential issues, as well as: The historic and continuing development of ETFs and how they stack up against other financial products that compete with them How to understand ETF applications as an individual investor or advisor and incorporate them into an effective investment plan The tax treatment of investment company ETFs and other exchange-traded instruments Fund ratings and the evaluation of ETFsThe best ways to minimize the cost of trading ETFs And much more Exchange-traded funds offer diversification and opportunities to participate in market segments and investment strategies that have not been available to most investors. If you want to make ETFs a productive part of your portfolio, the Second Edition of The Exchanged-Traded Funds Manual will show you how.
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About the AuthorPrefaceAcknowledgements1Introduction12The History and Structure of ETFs - and Some Competitors313The Regulatory Structure and Mechanics of the Open ETF554Distinctive Characteristics of Exchange-Traded Funds: Transactions, Shareholder Protection, Payment for Value Added, Fund Evaluation, and Taxation775ETF Applications for Investors and Investment Advisors1096Equity Index ETFs - A Long Way to Go1277New Generations of ETFs1778Trading ETF Shares Without Angst2199Developing an Investment Process Incorporating ETFs261AppGetting Information on ETFs - Where to Look and What to Look For291Glossary303Bibliography377Index391
