How to Buy ETFs
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How to choose an ETF
What is your investment objective?
Things to consider
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Physical Replication
The manager of the funds physically buys and holds all or a representative subset of the shares that make up the index
Positives
More transparent, easier to understand
Negatives
Can limit access to certain markets and exposures
The manager of the funds physically buys and holds all or a representative subset of the shares that make up the index
Positives
More transparent, easier to understand
Negatives
Can limit access to certain markets and exposures
Synthetic Replication
The manager uses derivatives – a contract between two parties related to a particular asset – rather than physically buying the assets
Positives
Enables access to markets and exposures that physical replication may not
Negatives
Counterparty risk – investors could be exposed to the risk that a single financial institution – the counterparty – may not be able to pay the index return
The manager uses derivatives – a contract between two parties related to a particular asset – rather than physically buying the assets
Positives
Enables access to markets and exposures that physical replication may not
Negatives
Counterparty risk – investors could be exposed to the risk that a single financial institution – the counterparty – may not be able to pay the index return