Είναι τα διαπραγματεύσιμα αμοιβαία κεφάλαια αποτελεσματικά;
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Keywords
Διαπραγματεύσιμα Αμοιβαία Κεφάλαια ; Σφάλμα Παρακολούθησης ; Αμοιβαία Κεφάλαια ; Καθαρή Εσωτερική Αξία ; Δημιουργία – Εξαργύρωση μεριδίων ; Tracking ErrorAbstract
Exchange Traded Funds (ETFs) are undoubtedly one of the most successful and innovative financial products of the last two decades. They have become extremely popular with both investment companies and private investors due to their special features, such as the simplicity of their structure, their low cost and easy accessibility to various categories of assets.
The purpose of this thesis is to answer investors' question whether ETFs are more effective than traditional mutual funds that follow the same benchmark, by investigating in great detail the key features of ETFs and their different structure from traditional mutual funds and by studying the convergence of these two financial products into specific benchmarks. Additionally, in the context of this research, it will be investigated whether the pre-tax performance of ETFs is better or worse than the performance of the common Mutual Funds by measuring the tracking error.
As part of this thesis work, a sample survey is conducted that includes a total of 22 Index Funds and ETFs. The survey has a geographical focus on the US and European markets, so it includes exclusively Index Funds and ETFs that follow 8 US and 2 European stock indices, such as the S&P 500, the Nasdaq-100, the Russell 2000, the S&P Mid Cap 400, the Russell 1000, the Russell 1000 Growth, the Russell 3000, the FTSE 100 and the EURO STOXX 50, and it covers a total period of 8 years, from 2011 to 2019, with a weekly frequency of observations. This study aims to examine and monitor the tracking error and the performance of ETFs and Index Funds in relation to their underlying indicators and to study and compare their efficiency.
Postgraduate Studies Programme
Χρηματοοικονομική και Τραπεζική με ειδίκευση στη Χρηματοοικονομική και Τραπεζική ΔιοικητικήDepartment
Σχολή Χρηματοοικονομικής και Στατιστικής. Τμήμα Χρηματοοικονομικής και Τραπεζικής ΔιοικητικήςNumber of pages
71Language
Greek
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Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα