Closed-end fund shares are fixed, and cannot be purchased or redeemed, but can only be sold or bought in the market. For example, a closed-end fund issues 2 billion shares, and only these 2 billion shares are neither more nor less during the closed-end period of the fund, but these 2 billion shares can be resold by different people.

The fund share of ETF is not fixed, so it can be purchased and redeemed, and it can also be bought and sold in the market! But one of the characteristics of ETF is that it is not cash, but a package share! Redemption is to exchange ETF fund shares for a basket of stocks. If someone subscribes, the total share of ETF will increase; If someone redeems, the total share of ETF will be reduced.

There are several ways to identify whether a fund is an ETF. First, if it has an ETF, it must be an ETF, such as 50ETF, SZSE 100ETF. Some ETFs in Shenzhen do not have ETFs, such as 159902 small and medium-sized board. These depend on the full name of the fund through F 10. The Chinese name of ETF is "transactional open index fund". Second, through the fund code, Shenzhen ETF code is 15990x, and Shanghai ETF code is 5 10xxx.

If you have any other questions, please ask them.

For more basic knowledge of ETF and closed-end fund, please refer to Baidu Encyclopedia.

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