Exchange-Traded Funds Paper

“Exchange-traded funds (ETFs) are considered a cost-efficient way to access a  multiplicity of investment exposures and hence have increased popularity among  investors after their first introduction on the New York Stock Exchange in 1993” (Mateus and Rahmani, 2014)
Critical discuss the existing literature on ETFs focusing on:
1. Replication accuracy (Physical vs. Synthetic ETFs)
2. The role of expense ratios, size and liquidity on tracking errors
Mateus and Rahmani (2014) “Physical versus Synthetic Exchange Traded Funds.  Which One Replicates Better?”, Journal of Financial Risk Management, forthcoming Access:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2500870

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