The differences between ABCDE open-end fund and closed-end fund are as follows: ① the variability of fund scale is different; (2) There are different ways to buy and sell fund shares; ③ The buying price and selling price of fund units are formed in different ways; ④ The investment strategies of funds are different; ⑤ The trading expenses of funds are different. Generally speaking, the transaction cost of closed-end funds is higher than that of open-end funds. So choose ABCDE.