Pooled, Derivative, and Alternative Vehicles

Free NASAA Series 66 (Uniform Combined State Law Examination) lesson in Investment Vehicle Characteristics. 25 min read, ~3,767 words.

Open-end funds price once daily at NAV via forward pricing; ETFs trade intraday at market prices that may differ from NAV; UITs are fixed unmanaged baskets with a termination date. Class A charges a front-end load with breakpoints (starting at \$25,000); Class B charges a back-end CDSC that declines over...