Kau-e̍k-só͘ kau-e̍k ki-kim

Kau-i̍k-sóo kau-i̍k ki-kim (ing-gú: exchange-traded fund (ETF); tsí-sòo kóo-phiò-hîng ki-kim) sī tsi̍t-tsióng tâu-tsu ki-kim hām kau-i̍k-sóo kau-i̍k sán-phín, tsik sī in teh tsìng-kuàn kau-i̍k-sóo kau-i̍k.^[1]^[2]^[3] ETF teh tsiânn-tsē hong-bīn kah kiōng-tông ki-kim sio-siâng, bô kāng-khuán ê sóo-tsāi teh ETF tsuân thinn-hāu teh tsìng-kuàn kau-i̍k-sóo uì kî-thann sóo-iú-tsiá bé-bē, lî-tshiánn kiōng-tông ki-kim tio̍h kin-kì i teh tsi̍t-ka-kang kiat-sok hit-tong-sî kè-siàu uì huat-hîng-jîn ê sóo-tsāi bé-bē.^[4] ETF tshî-iú kóo-phiò, tsè-kuàn, huè-pè, kî-huè ha̍p-iok hām/hi̍k kim-tiâu tíng-tíng siong-phín ê tsu-sán, thong-siông tshái-iōng thò-lī ki-tsè ūn-tsok, tsú-iàu teh hōo i-ê kau-i̍k tsiap-kīn i-ê tsu-sán tsīng-ti̍t,^[5] Sui-bóng ū-tang-sî-á mā-ē huat-sing phian-tsha ê tshut-hiān. Tuā-to-sòo ETF lóng sī tsí-sòo ki-kim [en]: mā tō sī kóng, in í kah bóo tsi̍t-ê kóo-phiò tshī-tiûnn tsí-sòosio-kâng ê pí-lē tshî-iú sio-kâng ê tsìng-kuàn. Bí-kok siong-siū huan-gîng ê ETF hok-tsè piau-tsún S&P 500 tsí-sòo, tsóng tshī-tiûnn tsí-sòo (total market index), NASDAQ-100 tsí-sòo,n̂g-kim kè-siàu, Russell 1000 tsí-sòo tang-tiong ê "sîng-tióng" kóo-phiò hi̍k-tsiá siōng-tuā kho-ki kong-si ê tsí-sòo.^[6] Tû-liáu bô thàu-bîng ê tsú-tōng kuán-lí-hîng ETF tsi-guā; teh tuā-to-sòo ê tsîng-hóng tsi-hā, ta̍k-ki ETF ióng-iú ê kóo-phiò tshing-tuann kah i-ê khuân-tāng tāng lóng--ê -ta̍k-kang huat-pòo teh huat-hîng-jîn ê bāng-tsām tíng-kuân. Siōng-tuā ê ETF ê nî-huì uî taut-su-gia̍h ê 0.03%, sīm-tsì koh-khah kē, sui-bóng tsuan-gia̍p ETF ê nî-huì khó-lîng uán-uán tshiau-kuè tâu-tsu kim-gia̍h ê 1%. Tsia--ê huì-iōng sī thong-kuè uì siong-kuan tshî-kóo hi̍k-tsiá tshut-siū tsu-sán tang-tiong hi̍k-tik ê kóo-sik [en] tsi-hù hōo ETF huat-hîng-jîn ê.

ETF kā tsū-sin ê sóo-iú-kuân uē-hun tsò kóo-tong tshî-iú ê kóo-hūn. Kiat-kòo ê sè-tsiat (pí-jû kong-si hi̍k-tsiá sìn-thok) kin-kì kok-ka/tē-khu jî-lâi piàn-ī, tsiū-nā teh tsi̍t-ê kok-ka lāi mā khó-lîng tsûn-tsāi tsiânn-tsē tsióng khó-lîng ê kiat-kòo.^[7] Kóo-tong tsi-kan kàn-tsiap ióng-iú ê tsu-sán, in it-puann ē hi̍k-tik nî-tōo pò-kò. Kóo-tong ū-kuân hun-hióng lī-lūn, pí-jû lī-sit hi̍k-tsiá kóo-sit, nā tsún-kóng ki-kim tsìn-hîng tshing-sǹg, in tio̍h-ē ū-kuân hi̍k-tik jīm-hô tshun-ê kè-ta̍t.

Iû-î sîng-pún kē, suè-siu hāu-lu̍t kuân kah khó kau-i̍k-sìng, ETF tsok-uî tâu-tsu khó-lîng kū-iú khip-ín-li̍k.^[8]

Tsia̍t-tsí 2021-nî 8-gue̍h, tsuân-kiû 9 bān-ik bí-guân tâu-tsu teh ETF, kî-tiong 6.6 bān-ik bí-guân tâu-tsu teh Bí-kok.^[9]

Teh Bí-kok, siōng-tuā ê ETF huat-hîng-jîn sī ióng-iú 35% tshī-tiûnn hūn-gia̍h ê BlackRock iShares, ióng-iú, 28% tshī-tiûnn hūn-gia̍h ê Vanguard Group, ióng-iú 14% tshī-tiûnn hūn-gia̍h ê State Street Global Advisors, ióng-iú 5% tshī-tiûnn hūn-gia̍h ê Invesco, í-ki̍p Charles Schwab kong-si ióng-iú 4% tshī-tiûnn hūn-gia̍h^[10]

Hong-pì-sik ki-kim bô hông khuànn-tsò ETF, tsik-sú in sīki-kim pīng-tshiánn teh kau-i̍k-sóo kau-i̍k. Kau-i̍k-sóo kau-i̍k phiò-kì [en] (ETN; tsí-sòo tâu-tsu tsìng-kuàn) m̄ sī kau-i̍k-sóo kau-i̍k ki-kim ê tsè-bū kang-kū.

Tsù-kái

↑ "ETFs 101". Fidelity Investments.
↑ "Exchange-Traded Funds (ETFs)". U.S. Securities and Exchange Commission.
↑ "Add an ETF without breaking the bank". Vanguard Group [en].
↑ "A Guide To Understanding Mutual Funds (2007)" (PDF). Investment Company Institute.
↑ "17 CFR Parts 239, 270, and 274 Exchange-Traded Funds; Proposed Rule" (PDF). U.S. Securities and Exchange Commission. March 18, 2008. goân-loē-iông (PDF) tī July 6, 2017 hőng khó͘-pih. August 27, 2017 khòaⁿ--ê.
↑ "Largest ETFs: Top 100 ETFs By Assets". ETFdb.
↑ "SPDR ETFs: Basics of Product Structure". State Street Global Advisors. July 30, 2014. goân-loē-iông tī February 20, 2017 hőng khó͘-pih.
↑ "ETFs Changing the Way Advisors Do Business, According to State Street and Wharton Study" (Press release). Business Wire. June 10, 2008.
↑ Wursthorn, Michael (August 12, 2021). "Global ETF Assets Hit $9 Trillion". The Wall Street Journal.
↑ "Market share of largest providers of Exchange Traded Funds (ETFs) in the United States". Statista.

Ên-sin ua̍t-to̍k

Carrell, Lawrence. ETFs for the Long Run: What They Are, How They Work, and Simple Strategies for Successful Long-Term Investing. Wiley, September 9, 2008. ISBN 978-0-470-13894-6
Ferri, Richard A. The ETF Book: All You Need to Know About Exchange-Traded Funds. Wiley, January 4, 2011. ISBN 0-470-53746-9
Humphries, William. Leveraged ETFs: The Trojan Horse Has Passed the Margin-Rule Gates. 34 Seattle U.L. Rev. 299 (August 31, 2010), available at Seattle University Law Review.
Koesterich, Russ. The ETF Strategist: Balancing Risk and Reward for Superior Returns. Penguin Books, May 29, 2008. ISBN 978-1-59184-207-1
Lemke, Thomas P.; Lins, Gerald T. & McGuire, W. John. Regulation of Exchange-Traded Funds. LexisNexis, 2015. ISBN 978-0-7698-9131-6

Tsham-ua̍t

State Street Global Advisors
The Vanguard Group
LexisNexis
Penguin Books
Wiley
Fidelity Investments
Statista
Business Wire

Guā-pōo liân-kiat

A brief history of ETFs – Trackinsight
Exchange Traded Funds (ETF) – Australian Stock Exchange (ASX)
Exchange Traded Funds (ETF) – Johannesburg Stock Exchange (JSE)
Exchange Traded Funds (ETF) – London Stock Exchange (LSE)
Exchange Traded Funds (ETF) – Toronto Stock Exchange (TSX)
Exchange Traded Products – New York Stock Exchange
Funds + ETFs – NASDAQ Stock Market
The ETF Hall of Fame: 25 People Who Revolutionized the ETF Industry – ETF Database
What are ETFs? – Trackinsight

[1] "ETFs 101". Fidelity Investments.

[2] "Exchange-Traded Funds (ETFs)". U.S. Securities and Exchange Commission.

[3] "Add an ETF without breaking the bank". Vanguard Group [en].

[4] "A Guide To Understanding Mutual Funds (2007)" (PDF). Investment Company Institute.

[proposedrule-5] "17 CFR Parts 239, 270, and 274 Exchange-Traded Funds; Proposed Rule" (PDF). U.S. Securities and Exchange Commission. March 18, 2008. goân-loē-iông (PDF) tī July 6, 2017 hőng khó͘-pih. August 27, 2017 khòaⁿ--ê.

[top100-6] "Largest ETFs: Top 100 ETFs By Assets". ETFdb.

[7] "SPDR ETFs: Basics of Product Structure". State Street Global Advisors. July 30, 2014. goân-loē-iông tī February 20, 2017 hőng khó͘-pih.

[8] "ETFs Changing the Way Advisors Do Business, According to State Street and Wharton Study" (Press release). Business Wire. June 10, 2008.

[9] Wursthorn, Michael (August 12, 2021). "Global ETF Assets Hit $9 Trillion". The Wall Street Journal.

[10] "Market share of largest providers of Exchange Traded Funds (ETFs) in the United States". Statista.

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