Purpose–The purpose of this paper is to provide a brief review of three strands of the
literature on exchange‐traded funds. Design/methodology/approach–The paper starts with a …

This paper examines the implications of substitutability of two similar investment vehicles:
conventional index mutual funds and exchange-traded funds (ETFs). It seeks to explain the …

One of the most spectacular successes in financial innovation since the advent of financial
futures is probably the creation of exchange traded funds (ETFs). As index funds, they aim at …

We examine the performance of passively managed exchange-traded funds (ETFs) that
provide exposure to global emerging markets equities. We find that the tracking errors of …

European index funds and exchange‐traded funds underperform their benchmarks by 50 to
150 basis points per annum. The explanatory power of dividend withholding taxes as a …

In this paper, we examine the price volatility and tracking ability of four iShares™ exchange-
traded funds (ETFs). We use three measures: the premium and discount position, daily …

The objective of this study is to compare the risk and return performance of exchange-traded
funds (ETFs) available for foreign markets and closed-end country funds. We utilize 29 …

This paper investigates the dynamic relationships between four key instruments related to
clean and dirty energy assets: WTI futures, United States Oil Fund (USO), EnergySelect …

This study examines the performance and trading characteristics of exchange-traded funds
(ETFs) in Australia. We investigate the ability of the population of index oriented (classical) …

This paper presents an empirical comparison of the out of sample hedging performance
from naïve and minimum variance hedge ratios for the four largest US index exchange …