The exponential growth in popularity of ETFs over the last three decades has solidified ETFs as an essential component of many investors' portfolios. Investor sentiment is one of the factors that influence market returns of ETFs during times of market volatility. This article highlights the gap...

This report is part of a study supporting the European Commission's evaluation of EU Agencies: Eurofound, Cedefop, ETF and EU-OSHA, for the period 2017-2022. The legal basis of the evaluation is set in the three tripartite Agencies (Eurofound, Cedefop, EU-OSHA) revised founding Regulation and in...

This report assesses the extent to which there is coherence and synergies between and among the four Agencies during the evaluation period (2017-2022). It will assess how the four Agencies interact, complement, co-operate and mutually reinforce one another and highlight the added value of any...

This Annex is an integral part of the study supporting the evaluation of EU Agencies: Eurofound, Cedefop, ETF and EU-OSHA for the period 2017-2022.1 Its purpose is to present the results of the Public Consultation (PC) conducted as part of the named study between March 2, 2023, and May 23, 2023....

This report provides an overview of all consultation activities and the input received through the call for evidence, which supported the evaluation study of EU Agencies: Eurofound, Cedefop, ETF and EU-OSHA for the period 2017-2022. The legal basis of the evaluation is set out in the three...

This Annex is an integral part of the study supporting the evaluation of EU Agencies: Eurofound, Cedefop, ETF and EU-OSHA for the period 2017-2022. Its purpose is to present the results of the targeted consultations conducted as part of the named study, which contributed to shaping its findings....

This cost-effectiveness analysis (CEA) was undertaken as part of the Study supporting the evaluation of EU Agencies: Eurofound, Cedefop, ETF and EU-OSHA. It provides supplementary detail to the summary analysis provided within the main evaluation report to RQ 8: To what extent were the...

This section provides an overview of the background, mission, operational, specific and general objectives of the European Centre for the Development of Vocational Training (Cedefop) for the period 2017-22.

The overall aim of this evaluation is to provide an objective, independent and critical assessment of the four Agencies (Eurofound, Cedefop, EU-OSHA and ETF) in terms of their effectiveness, efficiency, coherence, EU added value and relevance. The evaluation assesses each Agency individually and...

This Annex presents an summary of the cost and benefits examined in the accompaning main report produced for the study supporting the evaluation of EU Agencies: Eurofound, Cedefop, ETF and EU-OSHA. Values are presented in millions of euros (€) unless otherwise stated. The cost data is taken...

The European Training Foundation (ETF) is a European Union Agency which was established following the decision of the 1989 Strasbourg European Council to support Central and Eastern European countries in the development of their vocational education systems. The ETF's mandate, which corresponds...

This study aims to uncover interdependencies between two distinctive but increasingly influential dimensions in contemporary finance, namely, Environmental, Social, and Governance (ESG) and Sharia guidelines. We examine the long-term association between ESG and Sharia indices, along with ESG and...

This paper examines the use of ETFs by open-ended investment funds in the euro area to manage liquidity. We find that during the COVID-19 market turmoil, investment funds were the most run-prone investor type in the market for ETFs. We also show that open-ended funds that faced larger outflows...

Exchange-traded funds (ETFs) are typically considered to be passive investment vehicles designed to track a benchmark index. However, with the promulgation of the Securities and Exchange Commission's 2019 ETF Rule, funds are permitted the use of custom creation/redemption baskets. This change...

In this study, we delve into the financial market to compare the performance of prominent AI and robotics-related stocks against traditional IT indices, such as the Nasdaq, and specialized AI and robotics ETFs. We evaluate the role of these stocks in diversifying portfolios, analyzing their...

This study evaluates whether exchange traded funds (ETFs) threaten fnancial market stability by testing two hypotheses relating the growing importance of ETFs to increased market volatility and rising equity valuations. We estimate quantile cointegration models using Standard & Poor's 500 Index...

We studied various fund investing options in the circular economy sector. We found that most circular economy mutual funds and exchange-traded funds charge higher fees and take higher risks than their benchmarks. However, they appear to have underperformed their benchmarks during their short...

This paper aims to investigate the main mineral exchange-traded funds (ETFs) in terms of trading volumes on the New York Stock Exchange by measuring the volatility transmission among them and the connectivity of this market. Daily closing ETF data from 2019 to 2023 for platinum, silver, copper,...

Purpose Passive investing has established itself as the dominant force in the world of professionally managed assets, surpassing the concept of index funds. Its meteoric rise is fueled by investors' preference for its dual benefits of strong diversification and low cost. A comprehensive study of...

This paper examines the causes and consequences of hedge fund investments in exchange traded funds (ETFs) using U.S. data from 1998 to 2018. The data indicate that transient hedge funds and quasi-indexer hedge funds are substantially more likely to invest in ETFs. Unexpected hedge fund inflows...

In this study, I examined the daily risk-adjusted excess performance of active Equity ETFs in the Korean market, categorizing them into total market ETFs, sector ETFs, and ESG ETFs. I found statistically significant daily excess performance in certain ETFs within total market ETFs and sector...

Betas from return regressions are commonly used to measure systematic financial market risks. "Good" beta measurements are essential for a range of empirical inquiries in finance and macroeconomics. We introduce a novel econometric framework for the nonparametric estimation of time-varying betas...

We examine return connectedness between the largest US-based oil and gold ETFs and three major travel & leisure ETFs. Such analysis provides substantial value when understanding how investors can diversify sectoral risk. This research also compares several portfolio strategies to explore the...

This study uses a sample of 72 passively managed equity exchange-traded funds (ETFs) from the Chinese A-share market to examine the size and time-varying characteristics of their tracking errors, identify their determinants, and gain insight into the persistent and positive excess returns of...

Corporate bond ETFs provide stable funding to US companies, with pricing and real effects. ETF ownership reduces the yield spreads for bonds directly owned and for the other bonds of the same issuer. This lower cost of debt enables financially constrained firms to invest in risky projects....

Most exchange-traded funds (ETF or ETFs) seek to closely track the return of a specific market or submarket index. The difference between the returns of an ETF and that of the benchmark index at the end of an investing period is referred to as “Tracking Difference”. “Tracking Error” is a...