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ETFs are generally more tax-efficient than mutual funds because their unique creation and redemption mechanism typically allows investors to trade shares without triggering capital gains taxes.

An investor can purchase an ETF through a brokerage account by placing an order during trading hours, similar to buying individual stocks.

An ETF can trade at a premium or discount based on the current market price relative to the NAV. A premium occurs if the market price is higher than the NAV; a discount occurs if the market price is below the NAV.

Currency ETFs offer exposure to foreign exchange markets allowing investors to invest in currencies without the need for direct forex trading. They can track a single currency or a basket of currencies.

ETFs are traded throughout the day on stock exchanges at market-determined prices, while mutual funds are bought and sold based on their net asset value (NAV) at the end of the trading day.

Benefits of investing in ETFs include diversification, lower operating costs compared to mutual funds, tax efficiency, and trading flexibility.

The creation and redemption process involves authorized participants (APs) who facilitate the supply of ETF shares by creating new shares when demand is high and redeeming them when demand is low, thus helping to keep the ETF price in line with the NAV.

Actively managed ETFs have managers making decisions on asset allocation aiming for higher returns, resulting in higher fees, while passively managed ETFs simply track an index with less frequent trading and lower fees.

The expense ratio of an ETF is the annual fee that all funds or exchange-traded products charge their shareholders. It represents the percentage of the fund's average assets under management (AUM).

Risks associated with ETFs include market risk, liquidity risk, tracking error (deviation from the index), and potential lack of diversification for niche or sector-specific ETFs.

An index ETF is a type of exchange-traded fund that aims to replicate the performance of a specific index by investing in the securities of that index.

Sector ETFs are funds that provide targeted exposure to specific sectors of the economy, allowing investors to invest in particular industry segments.

An ETF, or Exchange-Traded Fund, is a type of investment fund that tracks an index, commodity, bonds, or a basket of assets and is traded on stock exchanges like individual stocks.

The net asset value (NAV) of an ETF is the dollar value of a single ETF share, based on the value of the fund's underlying assets minus its liabilities. It is usually calculated at the end of each trading day.