- CFA Exams
- 2022 Level II
- Study Session 16. Portfolio Management (1)
- Reading 43. Exchange-Traded Funds: Mechanics and Applications
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Learning Outcome Statements PDF Download
![]() | a. explain the creation/redemption process of ETFs and the function of authorized participants; |
![]() | b. describe how ETFs are traded in secondary markets; |
![]() | c. describe sources of tracking error for ETFs; |
![]() | d. describe factors affecting ETF bid-ask spreads; e. describe sources of ETF premiums and discounts to NAV; |
![]() | f. describe costs of owning an ETF; |
![]() | g. describe types of ETF risk; |
![]() | h. identify and describe portfolio uses of ETFs. |

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