What you will learn
- Distinguish an exchange price from net asset value.
- Separate fee drag, tracking difference and tracking error.
- Read a benchmark and concentration assumptions.
Before you begin
Basic percentage calculations and an understanding of shares are helpful.
Full lesson list
All lessons are freely available. No enrollment or payment is required.
Units, structure and net asset value
- Distinguish fund ownership from the dealing mechanism.
- Calculate an illustrative premium to net asset value.
Fees and tracking behavior
- Separate a signed performance gap from its variability.
- Understand fees as one contributor to a tracking result.
Mandates, weights and concentration
- Read index weights as exposure choices.
- Recognize that many holdings can still share the same risks.