ETFs have increased in popularity as alternatives to mutual funds. ETFs trade throughout the day just like ordinary shares, in comparison to mutual funds, which are priced once a day, after regular trading ends at 4pm.
According to the Wall Street Journal, the new funds would include:
- an EFT that follows the Dow Jones Industrial average, known as Diamonds,
- one that tracks the S&P 500 index, known as Spiders,
- a Nasdaq 100 index tracker, known as “The Qs” for its ticker symbol QQQ