ETF research

Compare the fund, not just the label

A practical framework for understanding objectives, structures, costs and holdings before comparing exchange-traded funds.

Research framework

Five dimensions to review

ETF names can sound similar while the underlying exposure differs. Review each dimension in context.

Investment objective

What exposure the fund is designed to provide.

Fund structure

How the fund gains and maintains that exposure.

Costs

Published fees and other potential ownership costs.

Holdings

What the portfolio contains and how concentrated it is.

Liquidity

Trading activity, spreads and capacity considerations.

Comparison worksheet

Build a review checklist

Educational tool

Select comparison dimensions

Investment objectiveWhat exposure the fund is designed to provide.Fund structureHow the fund gains and maintains that exposure.CostsPublished fees and other potential ownership costs.HoldingsWhat the portfolio contains and how concentrated it is.LiquidityTrading activity, spreads and capacity considerations.

Dimension	Fund A	Fund B	Review
Investment objective	Add approved data	Add approved data	Unavailable
Costs	Add approved data	Add approved data	Unavailable

Exposure

Confirm what the fund is intended to track or hold.

Trade-offs

Compare costs, diversification, liquidity and tracking approach.

Risk

Review market, currency, liquidity and product-specific risks.

Next step

Apply the framework to ETF discovery

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