1.ETF refers to a transactional open index fund, which is usually called an exchange-traded fund. It is an open-end fund with variable fund share. Combining the characteristics of closed-end funds and open-end funds, investors can buy and sell ETF shares in the secondary market or purchase and redeem ETF shares from fund management companies. However, the subscription and redemption must use a package of shares for fund shares, or use fund shares for a package of shares.

2.LOF refers to a listed open-end fund, which can buy and redeem fund shares in the OTC market or buy and sell fund shares in the exchange. Sell or redeem LOF and get cash; If you buy or purchase LOF, you can trade directly in cash and get the share of LOF directly.