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標題: | 美國主題型ETF之發展與投資績效 The Development and Investment Performance of Thematic ETFs:The Experience of the United States |
作者: | Ya-Hui Lee 李雅惠 |
指導教授: | 李存修 |
關鍵字: | ETF,主題型ETF,Thematic ETF, ETF、Thematic ETF, |
出版年 : | 2018 |
學位: | 碩士 |
摘要: | ETF(Exchange-Traded Funds)是過去十幾年來成長最快的金融商品之一,它具備低成本、透明度高,及提供追蹤指數報酬的特色已獲得越來越多投資人的青睞。ETF的蓬勃發展也帶動越來越多金融機構投入成為ETF發行商,隨著ETF發行市場的日益競爭,各家發行商無不推陳出新以區隔化產品,並迎合投資人追求更高報酬或達成影響社會與地球的價值,而Smart Beta Style指數及主題型指數(Thematic Index)ETF正是近幾年應運而生成為ETF產業最熱門的發展新趨勢。
本研究是針對主題型ETF在美國股票市場的發展經驗為主軸,蒐集歸納主題型ETF的定義、理論基礎、發展過程、主要類別、最新趨勢以及有關報酬研究的相關資料及文獻。同時以實際已掛牌交易的主題型股權ETF為樣本,探討不同期間的報酬表現,以檢驗實際的成果是否有達到的主題型ETF的理論預期目標,並據此提出對業者、投資人與後續研究的建議。 ETF (Exchange-Traded Funds) is one of the fastest-growing financial products in the past decade. Its characteristics of low cost, high transparency, and the provision of tracking index returns have been favored by more and more investors. The vigorous development of the ETF has also driven more and more financial institutions to become ETF issuers. With the increasing competition in the ETF distribution market, various issuers have promoted new products to differentiate products and catered for investors to pursue higher returns or achieve the value of impacting society and the earth, Smart Beta Style Index and Thematic Index ETF are the hottest development trends in the ETF industry over the past few years. This research focuses on the thematic ETF's development experience in the US stock market, collecting the definitions, the theoretical basis, the development process, the main categories, the latest trends, and relevant data and literature on the thematic ETFs. At the same time, taking the thematic equity ETFs actually listed for trading as a sample to discuss the performance of returns in different periods to test whether the actual results have achieved the thematic ETF’s theoretical expectations, and based on this, put forward the industry, investors and follow-up study with suggestions. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/20103 |
DOI: | 10.6342/NTU201800819 |
全文授權: | 未授權 |
顯示於系所單位: | 財務金融組 |
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