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Exchange Traded Funds

   Also found in: Acronyms, Wikipedia 0.01 sec.
Exchange Traded Funds (ETF)
Also known as ETF. A basket of stocks similar to an index mutual fund. However, there are a number of important differences between ETFs and mutual funds. The ETF can be traded within the day, they can be shorted, purchased on margin and there even exists options on some ETFs.

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NEW YORK -- ProShare Advisors has selected JPMorgan to provide fund administration services for the launch of 12 new ProShares Exchange Traded Funds (ETFs), which will begin trading on the American Stock Exchange today.
ProShares selected JPMorgan to provide a full range of custody services because they have the people, technology and experience to help us make the launch of ProShares Exchange Traded Funds a success," said Michael Sapir, CEO of ProShare Advisors LLC.
At that time, SSgA FM would re-brand the Funds to align them with SSgA FM's streetTRACKS family of exchange traded funds ("ETFs") which today includes eight funds with more than $1 billion in assets under management in the U.
 
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