The ETF market operates through its diverse players, primarily big financial institutes. These institutes devise an investment plan to attract other big investors. If these investment plans are well received by the top players, the institution buys the necessary stocks as mentioned in the plan. Once the complete portfolio is bought, it is kept with a trustee who, in turn, issues the EFT certificates. These certificates are then marketed in the different financial markets as shares.
The exchange traded funds vary from one another based on the following:
Size of the portfolio
The area, region, market, sector and industry they invest in.
The index they follow and try to replicate
Strategy of investment (regular or inverse)
Kind of underlying securities
Companies that they are created by
International or national underlying securities
Style of management (active or passive)
Availability around the globe or only national presence
There is no limit of classification in the ETF market. Different companies create different ETF to generate a unique selling point for their product. This has led to innovations in the exchange traded market and the large numbers of ETFs on offer are the best proof.
The ETF markets are markets inside a financial market. So, they are governed by the same rules as are those markets. The key players are:
A regulatory body
ETF creators: There are over 26 well known ETF issuers that through their different portfolio invest in diverse securities.
The financial market they are marketed in: The ETFs operate in different markets like forex, stocks and commodities.
Investors.
The exchange traded funds market, with its flexibility, has enabled millions of investors to reap the benefits of the different financial products that have come up. The ETF markets pack everything like mutual funds however, they are still sold like stocks.