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ODEON KAPITAL AG

UID CHE-348.764.474 · CH-ID CH-020.3.052.833-2
FCRO-ID 1579892

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Neumarkt 6, 8001 Zürich

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ODEONKAPITALS
HomeAccount types
  1. Learn
  2. Trading Glossary
  3. Exchange-Traded Fund (ETF)

Exchange-Traded Fund (ETF)

An exchange-traded fund pools assets under a stated strategy while its shares trade throughout the day on an exchange at market prices.

Defined termReviewed 16 July 2026

Related terms

IndexNet Asset Value (NAV)PortfolioBid-Ask SpreadAsset ClassMarket Risk

Educational risk notice

This material is general education, not personal investment advice or a promise of results. Markets can move beyond planned levels, and losses can exceed expectations when leverage, liquidity, gaps, or operational failures are involved.

Read the full risk disclosure
Trading glossaryReviewed 16 July 2026

Definition

An exchange-traded fund pools assets under a stated strategy while its shares trade throughout the day on an exchange at market prices.

In market context

An ETF can track an index, hold an actively selected portfolio, or provide specialized exposure through securities or derivatives. Its trading price can differ from net asset value, and investors face expenses, bid-ask spreads, tracking differences, liquidity conditions, and the risks of underlying holdings. Leveraged, inverse, commodity, and crypto-related products may behave very differently from broad unleveraged funds and require closer review.

Source

Use the primary source for fuller regulatory or market context.

Investor.gov — Exchange-Traded Funds

Educational risk notice

This material is general education, not personal investment advice or a promise of results. Markets can move beyond planned levels, and losses can exceed expectations when leverage, liquidity, gaps, or operational failures are involved.

Read the full risk disclosure

Related glossary terms

Selected from explicit term relationships and shared tags.

beginner3 min

Index

An index is a rules-based statistical measure that tracks the performance of a defined group of instruments, markets, or economic observations.

markets · benchmarksRead guide
beginner3 min

Net Asset Value (NAV)

Net asset value is a fund’s assets minus liabilities, usually expressed per share using the valuation rules and calculation time in its documents.

funds · valuationRead guide
beginner3 min

Portfolio

A portfolio is the combined set of cash, holdings, positions, and other financial exposures considered together for allocation, performance, and risk.

portfolio · reportingRead guide
beginner3 min

Bid-Ask Spread

The bid-ask spread is the difference between the highest displayed buying price and the lowest displayed selling price for an instrument.

execution · pricingRead guide