Which item below is not a characteristic of an exchange-traded fund?
A)Investors can use margin to buy them.
B)Their portfolios are changed frequently in response to market conditions.
C)They have very low expense ratios.
D)They may be more tax efficient than other types of funds.

Question

Quizplus · Accepted Answer

ETF portfolios are typically passively managed and do not change frequently in response to market conditions. This is a characteristic of actively managed funds.

Which Item Below Is Not a Characteristic of an Exchange-Traded