Asynchronous trading hours between the markets of Exchange-Traded Funds (ETFs) and their benchmarks not only make it difficult to apply a full replication strategy but also make the creation/redemption process ineffective and consequently distress the performance of international ETFs. Despite...

This study provides an empirical analysis of green index funds. Green exchange-traded funds (ETFs) are new financial instruments that invest in companies exhibiting positive environmental, social, and corporate governance (ESG) characteristics, and provide a low-cost approach to socially...

To many people, the terror of falling share prices is often significant, often more so than the pleasure of gains. Accordingly, investors often want to minimize downside volatility as a part of their portfolio planning. Investors already have several tools to measure downside volatility,...