ETFs-of-CEFs

Closed-end funds (“CEFs”) are different animals from exchange-traded funds (“ETFs”) and traditional mutual funds. CEFs do trade on an exchange, like stocks and ETFs, which leads to some confusion. However, they cannot create and redeem shares in response to changes in...

PHYS is Not an ETF

I previously wrote an article entitled PHYS: Now You Can Store Your Gold in Canada.   After discussions with Michael Traynor of the National Stock Exchange, I agree with their conclusion that PHYS is not an ETF. In some ways, PHYS is similar to other physically-backed...