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Describe an ETF and explain how these funds combine the characteristics of both unlisted (open-end) and listed (closed-end) funds.

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Describe an ETF and explain how these funds combine the characteristics of both unlisted
(open-end) and listed (closed-end) funds.
2. For each of the pairs of funds listed below, select the one that is likely to be less risky. Briefly
explain your answer.
a) Growth vs growth-and-income
b) Equity-income vs high-grade corporate bonds funds
c) Balanced vs government bond funds
d) Global vs value funds
e) A target date fund with a target of 2025 vs a target date fund with a target of 2050

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