另一大风险来自交易所交易基金本身的性质变化。
2004年，交易所交易基金被引入了中国并大获成功。
In 2004, the Exchange Traded Fund was introduced into China and has been great success.
刚开始，可以考虑那些做货币，期权和期货的交易所交易基金。
To start with, consider Exchange Trading Funds on currencies, and options on currency futures.
给它裹上交易所交易基金（ETF）的外衣，也不会有什么差别。
Packaging it in an exchange-traded fund makes no difference.
例如，仅交易所交易基金(‘ETFs’)便占据了石油期货市场的半壁河山。
For example, exchange traded funds (' ETFs') alone account for half of the activities in oil future market.
如今已有数个交易所交易基金在追踪该交易所的高专利股票(注2)指数。
Its index of patent-rich shares is tracked by several exchange-traded funds.
这一次，他们可以购买交易所交易基金（ETFs），它提供了同金价相联系的补贴。
This time round they are able to buy exchange-traded funds (ETFs) which promise a return linked to the bullion price.
投资者应当被告知交易所交易基金的市场可能不会像他们所希望的那样永远是流动的。
Investors ought to be told that the market for ETFs may not always be as liquid as they would like.
于是就形成了“综合型交易所交易基金”及其相关产物，如交易所买卖票据（ETNs）。
The answer was the development of “synthetic ETFs” and related products such as exchange-traded notes (ETNs).
去年的交易所交易基金占美国证券市场交易总量的9%，但几乎三分之二的交易值交易失败。
Last year ETFs accounted for 9% of all trading volume in America's equity markets but nearly two-thirds of the value of all fails.
证券交易所交易基金(etf)是一种新型的金融衍生工具，也是全球增长最快的金融产品之一。
Exchange Traded funds (ETF) is one kind of new financial derivation tool and one of the funds in the world which rapidly grows.
尽管投资者利用低成本的交易所交易基金和跟踪指数基金的能力还有待提高，但还是制造了这么多的富豪。
These riches have been generated despite the ability of investors to take advantage of low-cost exchange-traded funds and index-trackers. Investors have surged off-piste in search of higher returns.
科技精选行业基金(SPDR)，一个跟随科技股走势的交易所交易基金，在2016年涨幅超过14%。
The technology Select Sector SPDR, an exchange trade fund that tracks technology stocks is up just over 14% in 2016.
黄金精炼商和交易商卖力熔炼作为交易所交易基金(etf)和期货合约标的的400盎司“标准交割”金条。
Gold refineries and dealers worked feverishly to melt down 400 oz "good delivery" bars backing exchange traded funds and futures contracts.
在某些领域(比如说新兴市场)，投资者买卖交易所交易基金就要比做相关的非流动资产简单，但是流动性风险并没有消失。
In some sectors, like emerging markets, it is easier for investors to buy and sell an ETF than to trade in the underlying illiquid assets. But the liquidity risk has not gone away.
有些投资者用交易所交易基金来对冲股市下跌，前者在股市走低时会上涨（今年年初我采取了这一策略，但收获并不大）。
Some investors are hedging against stock declines with exchange-traded funds that rise as stock prices fall (a strategy I tried without much success earlier this year). Pimco's Mr.
Kotok建议维持较多的现金储备，减少消费者能够自由支配的部分，并且通过交易所交易基金增加石油和能源部分的比重。
Kotok suggests keeping high cash reserves, keeping the consumer discretionary sector underweight, and overweighting the oil and energy sectors through ETFs.
SEC起诉的第一起涉及交易所交易基金的案件仅仅是在上个月，第一起涉及信用违约交换的案件是在2009年(申诉失败)。
The SEC brought its first case involving exchange-traded funds only last month, and its first case involving credit-default swaps in 2009 (it lost).
从黄金现货溢价(以后讨论)和国债交易所交易基金这些泡沫的看跌图形，我认为债务货币化和美元贬值将在未来6个星期内开始。
Judging by gold backwardation (discussed later) and the bearish charts on the bubbly debt ETFs, I think the debt monetization and dollar devaluation will begin within the next six weeks.
两位经济学家认为，原因在于交易所交易基金出现之后，投资者能够很容易地买进卖出，使得大宗商品的“金融化”程度越来越高。
The reason, the economists argue, is that commodities have become increasingly ' financialized' by the creation of exchange-traded funds that allow investors to easily trade in and out of them.
最近，一支名为“标准普尔指数存托凭证”(SPDR)的黄金交易所交易基金(etf)成为全世界市值最大的交易所交易基金。
A gold exchange-traded fund (ETF) known as SPDR recently became the largest ETF by value in the world.
交易所交易基金受到人们欢迎的另外一个原因是投资者可以在全天的交易时间中进行交易，然而共同基金只能在交易日之前或之后进行结算。
ETFs also gained popularity because investors can trade them all day long, whereas a mutual fund can be liquidated only at the beginning and end of the trading day.
交易所交易基金(Exchange - traded funds)提供了广泛的股票组合，收取的管理费却只是共同基金的一个零头。
Exchange-traded funds offer broad baskets of stocks and charge a management fee that's often just a fraction of those at mutual funds.
因为在通货膨胀期间，美元是贬值的，我主张持有金锭而不持黄金交易所交易基金，但我相信在未来几年内黄金以及黄金矿业类股将提供巨大的回报率。
Because in inflation the dollar is devalued, I am a proponent of owning bullion and avoiding gold ETFs, but I do believe gold and gold-miner stocks will provide great returns over the next few years.
然后他会下达指令，要求这笔资金用于购买跟踪整体股市行情的交易所交易基金（ETF）等，但只有在股市较近期某个水平跌落20%或更多的时候才这样做。
Then he gives instructions that the money be used to, say, buy a broad stock-market ETF, but only when the price falls 20% or more below a recent level.
美国在对冲基金与共同基金资产、证券化产品、辛迪加贷款、股票和交易所交易衍生产品的交易额方面仍遥遥领先于欧洲。
It is still well ahead of Europe in hedge-fund and mutual-fund assets, securitisation, syndicated loans, and turnover in equities and exchange-traded derivatives.
美国在对冲基金与共同基金资产、证券化产品、辛迪加贷款、股票和交易所交易衍生产品的交易额方面仍遥遥领先于欧洲。
It is still well ahead of Europe in hedge-fund and mutual-fund assets, securitisation, syndicated loans, and turnover in equities and exchange-traded derivatives.
应用推荐