We’re using cookies, but you can turn them off in Privacy Settings. Otherwise, you are agreeing to our use of cookies. Learn more in our Privacy Policy.

×

A Comprehensive Guide to Exchange-Traded Funds (ETFs)

View the full book (PDF)

Abstract

Exchange-traded funds (ETFs) have become in their 25-year history one of the fastest growing segments of the investment management business. These funds provide liquid access to virtually every financial market and allow large and small investors to build institutional-caliber portfolios. Yet, their management fees are significantly lower than those typical of mutual funds. High levels of transparency in ETFs for holdings and investment strategy help investors evaluate an ETF’s potential returns and risks. This book covers the evolution of ETFs as products and in their uses in investment strategies. It details how ETFs work, their unique investment and trading features, their regulatory structure, how they are used in tactical and strategic portfolio management in a broad range of asset classes, and how to evaluate them individually.

With an appendix on international ETFs by Deborah Fuhr

- ETF translations available in Chinese and Portuguese

About the Author(s)

Joanne Hill
Joanne M. Hill
Dave Nadig
Matt Hougan
Matt Hougan

Matt Hougan is one of the world’s leading experts on crypto, ETFs, and financial technology.

He is Chief Investment Officer for Bitwise Asset Management, creator of the world's first cryptocurrency index fund. In that role, he helps create the index methodologies that underlie Bitwise’s investment products, and conducts fundamental research into the role cryptoassets can play in a diversified portfolio.

A three-time member of the Barron’s ETF Roundtable, Hougan was previously CEO of ETF.com, where he helped create the first institutionally oriented ETF classification and ratings system. Hougan led the sale of that business in three transactions to FactSet, BATS, and Informa, in 2015 and 2016.

He was also Chairman and CEO of Inside ETFs, the world’s largest ETF conference, where he helped guide efforts to educate financial advisors on the role ETFs and index-based investments can play in building efficient portfolios.

Hougan’s thoughts on investing have been widely profiled in the media, including in Barron’s, Bloomberg, The Wall Street Journal, The New York Times, Institutional Investor, CNBC, and the Financial Times. He is co-author of two publications for the CFA Institute Research Foundation: “A Comprehensive Guide to Exchange-Traded Funds,” published in 2015, and “Cryptoasset: The Guide to Bitcoin, Blockchain, and Cryptocurrencies For Professional Investors.” A crypto columnist for Forbes, Hougan has been featured on Bloomberg’s “Masters of Business.”


Hougan serves on the Board of Directors of Equbot, creator of the world’s first artificial-intelligence-driven family of ETFs, is a co-founder of Advisor Circle, a product studio for growth-oriented financial advisors, and is a strategic advisor to a number of firstm, including Blockworks and StratiFi.

He graduated from Bowdoin College with a B.A. in philosophy.