A unit investment trust is similar to a mutual fund,except shares are bought in units and the trust is more aggressively managed.

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A unit investment trust is similar to a mutual fund in that it pools money from multiple investors to invest in a portfolio of securities. However, the key difference is that a unit investment trust holds a fixed portfolio of securities with a predetermined maturity date. The trust is not actively managed, meaning that the securities in the portfolio are not bought and sold as frequently as those in a mutual fund. Additionally, shares are bought and sold in units or "shares" of the trust.

A Unit Investment Trust Is Similar to a Mutual Fund,except