Which of the Following Describes Why Exchange-Traded Funds Have Less

Multiple Choice

Which of the following describes why exchange-traded funds have less need for a portfolio manager than closed-end funds?

A) ETFs normally invest in stocks, bonds, or securities within a specific index.
B) ETFs are actively managed.
C) ETFs have portfolio managers that actively select stocks and other securities on a regular basis.
D) ETF fees are generally higher.
E) ETFs usually hold investments in a minimum of three indexes.