Semiconductor etf, full name: Guolian CSI All-Index Semiconductor Products and Equipment ETF, code: 512480, inception date: 2019-5-8, benchmark: CSI All-Index Semiconductor Products and Equipment Index return.
Traded open-end index funds belong to a special type of open-end fund, which combines the operational characteristics of closed-end and open-end funds, and investors can both subscribe to or redeem fund shares from the fund management company and, at the same time, buy and sell ETF shares on the secondary market at the market price, just like closed-end funds.
Subscriptions and redemptions must be made by exchanging a basket of shares for fund shares or by exchanging fund shares for a basket of shares. Due to the existence of both secondary market trading and subscription and redemption mechanisms, investors can engage in arbitrage trading when there is a difference between the market price of the ETF and the net value of the fund units. The existence of the arbitrage mechanism allows ETFs to avoid the problem of discounts that commonly exist in closed-end funds.