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.

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You have closed end funds, trade as a security listed on the stock exchange, but what they do is own other securities.

假如你持有封闭式基金，这种基金在证券交易所作为一种债券进行交易，但是实际上它们做的是持有其他债券。

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