Bond Mutual Funds vs. Bond Exchange Traded Funds: Evaluation of Risk Adjusted Performance
Jelena Stankevičienė, Ieva Petronienė
Administrative Sciences · 2019
doi:10.3390/admsci9020031 (opens in a new tab)
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Abstract
Growing acceptance of passive bond exchange traded funds (ETFs) and actively managed bond mutual funds has exposed the need to find a divide between these two comparatively similar types of instrument. This paper provides a comparative analysis of actively managed bond funds and passive bond ETFs in the context of multiple criteria. The research of risk-adjusted performance of a sampled group of bond funds and ETFs using the TOPSIS multi-criteria decision-making method revealed that actively managed bond funds have a modest advantage over passive bond ETFs. Moreover, the final findings indicate the funds’ performance dependability on portfolio composition by fixed income sector.
Abstract licence: CC BY
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