Exchange-traded funds (ETFs) first appeared in Canada 20 years ago. Since then their popularity has spread – the first US listings took place in 1993 and the first European listings followed in 2000. They are now listed as far afield as Egypt, Peru and the Philippines.
In the ensuing rush to join the market and cover every conceivable asset class, the original message that ETFs are simple and transparent instruments has become obscured by debates about replication, counterparty risk and complex
The week on Risk.net, July 7-13, 2018Receive this by email