1, LOF is called "Listened Open-Ended Fund" in English and "Listened Open-Ended Fund" in Chinese. In other words, after the issuance of listed open-end funds, investors can purchase and redeem fund shares at designated outlets, or buy and sell funds on exchanges.

2. ETFs generally refer to transactional open index funds, also known as exchange traded funds (ETFs). ETF is an open-end fund, which is listed and traded on the exchange with variable fund share.

Second, the applicable fund types are different.

1, ETF is mainly a passive investment fund product based on an index.

2. Although LOF also adopts the way of listing open-end funds on the exchange, it can be used not only for passive investment fund products, but also for economic investment funds.

Third, the targets of subscription and redemption are different.

1. At the time of subscription and redemption, ETF exchanges fund shares and "packages" shares with investors.

2.LOF is a cash exchange between fund shares and investors.

Fourth, the participation threshold is different.

1. According to foreign experience and the design scheme of Huaxia Fund SSE 50ETF, the basic unit of its subscription and redemption is 1 10,000 fund units, which has a high starting point and is suitable for institutional customers and powerful individual investors.

2. The subscription and redemption of 2.LOF products are the same as other open-end funds, starting from 1000 fund units, which is more suitable for small and medium-sized investors to participate.

Fifth, the arbitrage operation mode and cost are different.

1.ETF must buy and sell a basket of stocks in the process of arbitrage trading, which involves both funds and the stock market.

2. The arbitrage trading of 2.LOF only involves fund trading.

Baidu encyclopedia -lof

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