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Performance of Actively Managed Exch...

Li, Xuan.

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Performance of Actively Managed Exchange Traded Funds.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Performance of Actively Managed Exchange Traded Funds./
Author:	Li, Xuan.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2022,
Description:	42 p.
Notes:	Source: Dissertations Abstracts International, Volume: 84-04, Section: A.
Contained By:	Dissertations Abstracts International84-04A.
Subject:	Finance. -
Online resource:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=29394869
ISBN:	9798351477039

Performance of Actively Managed Exchange Traded Funds.
Li, Xuan.

Performance of Actively Managed Exchange Traded Funds. - Ann Arbor : ProQuest Dissertations & Theses, 2022 - 42 p.

Source: Dissertations Abstracts International, Volume: 84-04, Section: A.

Thesis (D.B.A.)--Washington University in St. Louis, 2022.

Investors who want access to active asset management can choose to invest in actively managed exchange traded funds (AMETFs), actively managed non-transparent ETFs (ANETFs) or mutual funds. Three major differences of AMETFs, ANETFs and mutual funds are the venues funds are traded on, tax liabilities, and disclosure requirements. This paper exploits the 2019 SEC rulings on ETFs to study empirically which fund structure for active asset management delivers the best return performance and explores what are the driving forces behind the superior performance. I find that for equity funds, AMETFs is associated with 0.158% lower monthly returns than mutual fund, suggesting the cost of higher disclosure frequency exceeds tax benefits of AMETFs.

ISBN: 9798351477039Subjects--Topical Terms:

542899
Finance.
Subjects--Index Terms:

Actively managed exchange traded funds

Performance of Actively Managed Exchange Traded Funds.
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245 1 0 $a Performance of Actively Managed Exchange Traded Funds.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2022
300 $a 42 p.
500 $a Source: Dissertations Abstracts International, Volume: 84-04, Section: A.
500 $a Advisor: Kaplan, Zachary.
502 $a Thesis (D.B.A.)--Washington University in St. Louis, 2022.
520 $a Investors who want access to active asset management can choose to invest in actively managed exchange traded funds (AMETFs), actively managed non-transparent ETFs (ANETFs) or mutual funds. Three major differences of AMETFs, ANETFs and mutual funds are the venues funds are traded on, tax liabilities, and disclosure requirements. This paper exploits the 2019 SEC rulings on ETFs to study empirically which fund structure for active asset management delivers the best return performance and explores what are the driving forces behind the superior performance. I find that for equity funds, AMETFs is associated with 0.158% lower monthly returns than mutual fund, suggesting the cost of higher disclosure frequency exceeds tax benefits of AMETFs.
590 $a School code: 0252.
650 4 $a Finance. $3 542899
653 $a Actively managed exchange traded funds
653 $a Disclosure frequency
653 $a Semi-transparent ETF
690 $a 0508
710 2 $a Washington University in St. Louis. $b Finance. $3 3690206
773 0 $t Dissertations Abstracts International $g 84-04A.
790 $a 0252
791 $a D.B.A.
792 $a 2022
793 $a English
856 4 0 $u https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=29394869