What are ETFs?

June 15, 2022
An exchange-traded fund (ETF) is an investment fund that trades like a stock. ETFs, like other types of funds, pull together money from investors into a basket of different investments.
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Investors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can view, download, and print a prospectus by clicking on Prospectus & Reports or by calling 1-800-435-4000. Please read the prospectus carefully before investing.

Investment returns will fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares of ETFs are bought and sold at market price, which may be higher or lower than the net asset value (NAV).

This material is intended for informational purposes only and should not be considered a personalized recommendation or investment advice. Investors should review investment strategies for their own particular situations before making any investment decisions.

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

1022-2NPI