Description
Book SynopsisProfessional-level guidance on effectively trading ETFs in markets around the world The ETF Handbookis a comprehensive handbook for using Exchange Traded Funds, designed specifically for institutional investors and professional advisors seeking to improve ETF profitability. While ETFs trade like stocks, they are not stocksand the differences impact every aspect of their use. This book provides full guidance toward effectively monitoring, analyzing, and executing ETFs, including the technical details you won''t find anywhere else. You''ll learn how they work, where they fit, and who is using them, as well as the resources that exist to provide access for investors. This new second edition includes updated coverage on how business has moved from niche to mainstream, ETF performance and issuers around the world, and changes to the users of ETFs in the US. The companion website features instructional video, as well as ready-to-use spreadsheets for calculating NAV and IIV.<
Table of Contents
Preface ix
Acknowledgments xv
Introduction xvii
Part One
Introduction to the ETF Market Place 1
Chapter 1
How Did We End Up Here? 5
Chapter 2
Steps for Developing an ETF 32
Chapter 3
Giving an ETF Life in the Markets 50
Part Two
ETF Trading and Execution 69
Chapter 4
Trading Volumes and ETF Liquidity 71
Chapter 5
Volume ≠ Liquidity—Understanding ETF Implied Liquidity 96
Chapter 6
Execution 128
Chapter 7
Market Participants and Their Trading Strategies 155
Chapter 8
Market Structure and ETFs—Protecting Your Portfolio from Flash Crashes 181
Part Three
ETF Valuation 207
Chapter 9
ETFs with Domestic Holdings 209
Chapter 10
ETFs with International Constituents 224
Chapter 11
Fixed-Income and Currency ETFs 240
Chapter 12
Leveraged, Inverse, and Commodity Products 266
Chapter 13
Structure of an ETF 281
Appendix A
Bloomberg ETF Reference Guide 304
Appendix B
ETF Issuers 314
Appendix C
An Overview of Japanese ETF Market 316
Appendix D
An Overview of European ETF Market 322
About the Author 327
Index 329
