The lessons
- 5.1
Fund, ETF, investment trust — three wrappers, one idea
All three pool money. The differences are in how you buy and sell them.
- 5.2
Accumulation vs income units
The same fund, two share classes, two very different dashboards.
- 5.3
What's actually inside a global tracker, by weight
The top ten, the country split, and how concentrated "global" turns out to be.
- 5.4
Active and passive, factually
What each one is doing with your money — described, not ranked.
- 5.5
What an ETF's distribution yield actually is
Not the same as a share's dividend yield, and not the same as what you'll receive.
- 5.6
Physical vs synthetic replication
Owning the shares, versus a contract that promises the return.
- 5.7
What tracking error means
The gap between the index and the fund that follows it.
- 5.8
Why an ETF's price can drift from its NAV
The share price and the value of the holdings are two different numbers.
- 5.9
Investment trusts: discounts, gearing, revenue reserves
Three features shares and open-ended funds simply don't have.
- 5.10
Domicile, UCITS and reporting status
Why the country an ETF is registered in shows up on your tax return.
Educational content only. It is not personal financial advice.