Structure

♤ Exchange Traded Funds are pools of securities whose ownership units are known as shares.

♤ Shareholders are indirect owners of the underlying assets of an ETF and the said shares are the proof of this ownership.

♤ An ETF can take the structure like that of a corporation or a trust and this is dependent on the structures permitted by the country of domicile.

♤ For instance, in the US, ETFs are mostly structured as open-end management investment companies.