Passively managed.

Do not require a minimum initial investment.

Expense ratio between 0.1% and 10%.

Usually require a minimum initial investment.

Expense ratio between 0.1% and 1.25%.

Actively managed.

Priced once a day, at the end of the trading day, always at the Net Asset Value.

Priced during a day because they are traded on a stock exchange and their market prices may be slightly different from the Net Asset Value, depending on the supply and demand.