Characteristics apply to exchange-traded funds

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Which of the following characteristics apply to exchange-traded funds (ETFs)? I. unlimited number of outstanding shares II. typically track the performance of some index III. market prices reflect demand for the fund rather than NAV. IV. shares are purchased from and redeemed by the investment company managing the fund. ?I, II and IV only ?I, II and III only I and II only ?II and III only.

Reference no: EM131577654

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