1.ETF is a trading index open fund. ETF is an open-end fund that tracks a certain index and can be listed on the exchange. LOF fund is a listed open-end fund.

2. LOF is a fund type pioneered in China. The subscription and redemption of ETFs can only be carried out on exchanges and can only be traded on the market. LOF can be carried out on exchanges or at agency sales outlets.

3.ETF adopts "physical subscription, physical redemption". Investors subscribe for a basket of stocks and redeem a basket of stocks. LOF funds may subscribe for a basket of stocks, and LOF redeems actual cash.