The former is an index fund and the latter is an index-linked fund.

Index foundations charge management fees. This is the cost of the holder.

The index linked fund holds the index fund, and the holder will pay the index fund management fee+index linked fund management fee. I want to hold two management fees, which are higher than the former. So it is not as cost-effective as the former.

However, it also has the advantage of low investment threshold (but high transaction cost) in banks. The former is generally traded on the exchange, which is convenient for purchase and redemption and has low transaction cost.