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转身_180度 · 2025年04月30日

ETF1为什么不用交易日进行计算?

NO.PZ2023052302000008

问题如下:

An investor is evaluating the returns of three recently formed ETFs. Selected return information on the ETFs is presented in Exhibit 20:


Which ETF has the highest annualized rate of return?

选项:

A.

ETF 1

B.

ETF 2

C.

ETF 3

解释:

B is correct. The annualized rate of return for

ETF 1 annualized return = (1.0425365/125) – 1 = 12.92%

ETF 2 annualized return = (1.019552/8 ) − 1 = 13.37%

ETF 3 annualized return = (1.171812/16 ) – 1 = 12.63%

Despite having the lowest value for the periodic rate, ETF 2 has the highest annualized rate of return because of the reinvestment rate assumption and the compounding of the periodic rate.

ETF在非交易日是没有收益的,是否应使用250交易日计算年化收益更合理,即250/125,R=8.68%

1 个答案

品职助教_七七 · 2025年04月30日

嗨,爱思考的PZer你好:


如果用非365以外的天数计算,题目需要明确给出这种条件。不能自行选择天数。

什么都没给的情况下,只能使用365。本题也和ETF无关,ETF只是载体,换成其他金融产品也是一样的。

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