A news release pointed out that ETFs are potentially more tax-efficient than traditional index funds since fund shareholders purchase and redeem shares from the fund, while ETF investors buy and sell from one another on an exchange.
The announcement said program features also include that ETFs:
- have lower expense ratios than actively managed funds
- are designed to closely provide access to wide variety of indexes, asset classes or sectors
- are continuously priced with ETFs offering the same intra-day liquidity as other securities that trade on a major exchange
- are diversified.
Park Avenue Securities is a subsidiary of The Guardian Life Insurance Company of America. More information about Guardian is at www.guardianlife.com.
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