ETFs allow retail investors to behave like hedge funds.
ETFs可使散户投资者若对冲基金般运作。
The most vocal critic of ETFs is John Bogle, Vanguard's former boss.
ETF最严厉的批评者是JohnBogle，先锋集团的前老总。
ETFs have been around since 1990, when the first fund was launched in Canada.
ETFs大约在1990年成立，第一笔资金在加拿大投放市场发行。
Unlike units in a conventional mutual fund, ETFs can be traded all day long.
不像传统的共同基金单位，ETF可以整日交易。
Similar concerns dog other types of ETFs which use derivatives to achieve their results.
相同的担心也会发生在其他利用衍生品来达到他们目标的ETF基金。
Between 60% and 70% of those trades were in ETFs, far above their actual weighting in the market.
这些交易的60%到70%是集中在EFTs上的，大大超乎其在市场中所占的实际比重。
Investors ought to be told that the market for ETFs may not always be as liquid as they would like.
投资者应当被告知交易所交易基金的市场可能不会像他们所希望的那样永远是流动的。
Some blame the rapid growth of gold ETFs for pushing the bullion price to record peaks in late 2009.
有人指责黄金ETF的快速增长是2009年底推动黄金价格达到新高的主要原因。
The total size of assets under management in swap-based ETFs in Europe was only $124bn, ” says Mr Hamid.
在欧洲管理的以掉期为基础的ETFs的总资产规模仅1240亿元。
The problem is not on the same scale: synthetic ETFs and ETNs are a small proportion of the industry.
问题严重程度有所不同：综合型etfs和ETNs是该行业的一小部分。
Another problem lies in the existence of leveraged ETFs, where losses as well as profits can be magnified.
另一个问题是杠杆式ETFs的存在，损失和收益都可能被放大化。
For example, exchange traded funds (' ETFs') alone account for half of the activities in oil future market.
例如，仅交易所交易基金(‘ETFs’)便占据了石油期货市场的半壁河山。
In products labelled as ETFs, at least 80% of the portfolio must comprise securities matching the fund's name.
在以etfs为标签的产品中，至少80%的组合包括了符合其基金名称的证券。
The answer was the development of “synthetic ETFs” and related products such as exchange-traded notes (ETNs).
于是就形成了“综合型交易所交易基金”及其相关产物，如交易所买卖票据（ETNs）。
Nevertheless, the rapid trading of ETFs is an area of concern, especially when the underlying assets are illiquid.
但是高速交易中的ETFs是一个值得关注的问题，尤其当相关资产是缺乏流动性的。
It seems unlikely that Banks have the same kind of exposure to collapsing ETFs as they did to the subprime market.
看上去目前银行不太可能面临着和次贷市场相当的ETFs的崩溃危机。
The trading commissions notched up by all this activity could overwhelm the cost advantages of ETFs, he argues.
他说，这么多交易的佣金会完全抵消etf在成本方面的优势。
This time round they are able to buy exchange-traded funds (ETFs) which promise a return linked to the bullion price.
这一次，他们可以购买交易所交易基金（ETFs），它提供了同金价相联系的补贴。
Third, because it is easy for private investors to buy and sell ETFs, they may be tempted to trade them too often.
第三，由于私人投资者在买卖ETF上的便捷性，可能促使其频繁交易。
That spells danger for investors in leveraged ETFs, which use debt to magnify the returns of the index they follow.
杠杆ETF利用债务来放大他们购买的指数的回报率，对于投资者来说这是非常危险的。
ETFs are quoted securities that track a particular index, for a fee that is normally just a fraction of a percentage point.
ETFs是跟踪某种特殊指数进展的上市证券。它的费用通常不到百分之一。
But if markets keep rising, ETFs may be to the next generation of day-traders what dotcom stocks were in the late 1990s.
但是如果市场持续上升ETF将成为第二个曾在二十世纪九十年代的出现的日交易网站市场。
Last year ETFs accounted for 9% of all trading volume in America's equity markets but nearly two-thirds of the value of all fails.
去年的交易所交易基金占美国证券市场交易总量的9%，但几乎三分之二的交易值交易失败。
Fund managers' fees have always eaten into investors returns; ETFs were a splendid way of letting investors keep more of their money.
基金管理者的小费总是在侵吞投资者的回报；etfs是一种让投资者更多的持有自身资金的行之有效的方法。
Another bearish sign: the shorter-term, 50-day moving average of all three ETFs crossed below the 200-day at the start of this month.
另外一个疲软的信号显示，自本月起短期而言，50日均线的三个ETF均低于200天以来的水平。
Another bearish sign: the shorter-term, 50-day moving average of all three ETFs crossed below the 200-day at the start of this month.
另外一个疲软的信号显示，自本月起短期而言，50日均线的三个ETF均低于200天以来的水平。
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