What do you mean? It is both an OTC fund and an OTC fund. The so-called floor refers to the secondary market, that is, the stock market, where consumers can buy directly and in real time through their securities accounts. Off-site, that is, outside the secondary market, such as bank counters, online banking, securities company counters, fund company websites and other channels to buy.
Difference 1: the purchase and redemption mechanism is different. At the time of subscription and redemption, ETF exchanges fund shares and "packages" stocks with investors, while LOF exchanges fund shares with investors in cash.
Difference 2: Different ETFs have minimum requirements for subscription and redemption. The minimum amount is 6,543,800 copies, with a high starting point, which is suitable for institutional customers and powerful individual investors. LOF's product subscription and redemption are the same as other open-end funds. The subscription starting point is 1000 fund units, which is more suitable for small and medium investors to participate. Difference 3: The applicable fund types are different. ETF is essentially a passive index fund. LOF can be a passive index fund or an active management fund.