The etf fund price is announced every 15 seconds, and the net value is announced every night outside the market. Investors can use the off-exchange and off-exchange spreads for arbitrage.

ETF funds can be divided into index funds and active management funds. Most foreign ETFs are index funds. ETF launched in China is also an index fund. ETF index fund represents the ownership of a basket of stocks, which refers to the index fund that is traded on the stock exchange like stocks, and its trading price and fund share net value trend are basically consistent with the tracked index. Therefore, investors buying and selling an ETF is equivalent to buying and selling the index it tracks, and can get basically the same income as the index. Usually, it adopts a completely passive management mode, aiming at fitting an index, which has the characteristics of both stocks and index funds.