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Closed-end funds are not considered to be etfs, even though they. The first such order was to powershares actively managed exchange-traded fund trust,. This is because not only do exchange traded funds often have lower shareholder related expenses, but also because they do not have to invest in cash. What advantages do exchange-traded funds have over mutual funds? Investing, etfs, mutual funds. Exchange-traded funds do they belong in your portfolio? September 9, 2014 by financial advisor, brian lahue.

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