Correct answer = C
"Alternative Investments," Bruno Solnik and Dennis McLeavey
2008 Modular Level I, Vol. 6, pp. 180-187
Study Session 18-76-b, c
distinguish among style, sector, index, global, and stable value strategies in equity investment and among exchange traded funds (ETFs), traditional mutual funds, and closed end funds
Some sector and international ETFs have large bid-ask spreads and substantial expense ratios compared to managed portfolios, which may provide a more cost-effective alternative to ETFs, particularly for large institutional investors.
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发表于 2008-6-1 05:21
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