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1. Shard Calculation

Query:

Response:

Calculated Shard: 199 (from laksa196)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa199.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.moneysense.gov.sg/guide-to-etfs-understanding-exchange-traded-funds/\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.moneysense.gov.sg/guide-to-etfs-understanding-exchange-traded-funds/\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.moneysense.gov.sg\/guide-to-etfs-understanding-exchange-traded-funds\/","crawl_time":1776213724,"first_indexed_time":1725570370,"http_code":200,"src_unparsed":"sg,gov,moneysense!www,\/guide-to-etfs-understanding-exchange-traded-funds\/ s443","src_root_hash":"15748625011963794999","history_drop_reason":null,"meta_title":"Guide to ETFs: Understanding Exchange Traded Funds","meta_descriptions":[""],"attrs_boilerpipe_text":"Key Takeaways\nETFs are investment funds listed and traded on a stock exchange\nMany aim to track the returns of a stock or commodity index\nMany ETFs listed on SGX are complex structures involving the use of derivatives.\nSuch ETFs are classified as Specified Investment Products (SIPs)\nExchange traded funds (ETFs) are investment funds that are listed and\ntraded on a stock exchange. Your money is pooled with money from other\ninvestors and invested according to the ETF's stated investment objective.\nHow It Works\nAn ETF typically aims to produce a return that tracks or replicates a\nspecific index such as a stock index or commodity index.\nSuch index tracking ETFs are passively managed by ETF managers and do\nnot try to outperform the underlying index. Index tracking ETFs have fees\nand charges that are usually lower than those of actively managed investment\nfunds.\nETFs may have complex structures. They may be structured as cash-based\nETFs or as synthetic ETFs, which involve the use of derivatives.\nNote:\nMany ETFs have been categorised as Specified Investment\nProducts (SIPs). You will need to meet certain requirements to invest in\nthem. Check with your financial institution whether the product you are\nconsidering is an SIP.\nReturns Of ETFs\nYou invest in an ETF by buying units in the ETF. There is capital gain\nwhen the price of the units rises above the price paid for them. Some ETFs\nalso pay dividends.\nWhat Is The Most You Can Lose?\nETFs are not principal-guaranteed. You may lose all or a substantial amount\nof the money you invested in certain situations. The risks of investing\nin ETFs are described in the prospectus and product highlights sheet.\nWhy Invest In ETFs?\nThere are many ETFs to choose from. If you buy an ETF which tracks a stock\nindex, you gain exposure to the performance of the index. For example,\ninvesting in an ETF that tracks the Straits Times Index (STI) provides\ninvestors with exposure to the Singapore market.\nHere are a few advantages of investing in an ETF:\nYou can gain exposure to an index without having to invest in all its\ncomponent stocks\nFees and charges tend to be lower than for actively managed investment\nfunds, as ETFs have lower management fees – there is also usually no sales\ncharge, although if you buy and sell\nETFs on the SGX\n,\nyou would need to pay the applicable brokerage commissions or transfer\ntaxes\nAs ETFs are traded on a stock exchange, you can buy and sell units of\nETFs throughout the trading day\nAre ETFs Suitable For You?\nInvesting in ETFs may not be for everyone. Before you invest, make sure\nthat you:\nWant potentially higher returns BUT are also prepared for variable returns\nwhich include the risk of losing all or a substantial part of your investment\nUnderstand how returns are calculated and the factors that can affect\nreturns\nUnderstand the risks associated with the ETF\nYou should be aware of the risks associated with the use of derivatives\nby ETFs, including the consequences if the provider or counterparty of\nthe derivative defaults\nAre prepared to have your money tied up for long periods of time\nA longer time horizon is generally preferred to ride out short-term price\nfluctuations. However, depending on the investor’s investment objective,\nsome ETFs may be suitable for short term trading\nAre familiar with the ETF manager and the ETF’s track record\nWhat Are The Risks?\nCommon risks associated with ETFs include the following\nMarket Risk\nYou are exposed to market risk or the volatility of the specific benchmark\ntracked\nFor example, the performance of an ETF tracking the Straits Times Index\n(STI) will be directly affected by the price fluctuations of the component\nstocks of the STI\nTracking Error\nChanges in an ETF’s Net Asset Value (NAV) may not exactly correspond to\nprice changes of the index\nIn cash-based ETFs, the manager may not be able to buy or sell the component\nstocks in their exact proportion, or to keep up with market or weighting\nchanges\nExecution costs, investment constraints, or timing differences may also\nadd to tracking error\nForeign Exchange Risks\nYou are exposed to foreign exchange risk if you buy an ETF whose base\ncurrency is different from your own\nSome ETFs may trade in a currency that is different from that of the underlying\nassets\nLiquidity Risk\nDesignated market makers provide liquidity in ETFs by providing continuous\nbid-ask prices throughout the trading day\nIf the market maker fails to perform its duty, liquidity may disappear,\nmaking it difficult for you to sell your ETF units\nETF’s traded price not reflective of Net Asset Value (NAV) per unit\nAn ETF’s traded price may not reflect its NAV as the traded price is subject\nto market demand and supply\nRisks from securities lending\nAssets held in cash-based structures may be used for securities lending\nYou are exposed to the risk that the borrower of the securities defaults\nand does not return the securities\nTypes Of ETFs: Cash-based VS Synthetic\nThere are different ways to structure an ETF even if its investment objective\nis to track the same underlying index.\nCash-based ETF\nCash-based (or physical) ETFs are ETFs that invest directly into the assets\nthat make up the index. They may invest in:\nAll of the index’s component stocks, bonds or assets\nA representative selection of the index’s component stocks, bonds or assets\nSynthetic ETF\nSynthetic ETFs are ETFs that use derivative products such as swaps or\naccess products (for example, participatory notes) to produce returns that\ntrack the relevant indices.\nThe use of derivatives means:\nMore parties are involved, e.g., the swap counterparty or the access product\nissuer\nYou are exposed to the risk that the swap counterparty or access product\nissuer defaults on its payment obligations under the swap or access product.\nSuch a party may default if it becomes bankrupt or insolvent. The amount\nof loss you suffer will depend on the ETF’s exposure to the counterparty\nor issuer\nSynthetic ETFs that are swap-based may use either the unfunded or funded\nstructure.","attrs_markdown":"A Singapore Government Agency Website    How to identify\n\n![](https:\/\/www.moneysense.gov.sg\/assets\/img\/government_building.svg)\n\n**Official website links end with .gov.sg**\n\nGovernment agencies communicate via  **.gov.sg**  websites (e.g. go.gov.sg\/open). [Trusted websites](https:\/\/go.gov.sg\/trusted-sites)\n\n![](https:\/\/www.moneysense.gov.sg\/assets\/img\/lock.svg)\n\n**Secure websites use HTTPS**\n\nLook for a  **lock** (![](https:\/\/www.moneysense.gov.sg\/assets\/img\/lock.svg)) or https:\/\/ as an added precaution. Share sensitive information only on official, secure websites.\n\n[![Homepage](https:\/\/www.moneysense.gov.sg\/images\/logo-moneysense-nobg.png)](https:\/\/www.moneysense.gov.sg\/)\n\n[About Us](https:\/\/www.moneysense.gov.sg\/about-us\/)\n\n[Money Management](https:\/\/www.moneysense.gov.sg\/managing-your-money\/)\n\n[Managing Your Money](https:\/\/www.moneysense.gov.sg\/managing-your-money\/)[Three Ways To Shape Up In Budgeting](https:\/\/www.moneysense.gov.sg\/three-ways-to-shape-up-in-budgeting\/)[Effects Of Compounding Interest](https:\/\/www.moneysense.gov.sg\/effects-of-compounding-interest\/)[Understand The Types Of Loans](https:\/\/www.moneysense.gov.sg\/understand-the-types-of-loans\/)[Understanding Credit Cards](https:\/\/www.moneysense.gov.sg\/understanding-credit-cards\/)[Understanding Credit Card Interest And Charges](https:\/\/www.moneysense.gov.sg\/understanding-credit-card-interest-and-charges\/)[Credit Reports and Creditworthiness](https:\/\/www.moneysense.gov.sg\/credit-reports-and-creditworthiness\/)[Understanding Debit Cards](https:\/\/www.moneysense.gov.sg\/understanding-debit-cards\/)[Managing Debt: What Can You Do?](https:\/\/www.moneysense.gov.sg\/managing-debt-what-can-you-do\/)\n\n[Insurance](https:\/\/www.moneysense.gov.sg\/insurance-basics\/)\n\n[Insurance Basics](https:\/\/www.moneysense.gov.sg\/insurance-basics\/)[Assessing Your Insurance Needs](https:\/\/www.moneysense.gov.sg\/assessing-your-insurance-needs\/)[Understanding Health Insurance](https:\/\/www.moneysense.gov.sg\/health-insurance\/)[What To Ask Before Buying Health Insurance](https:\/\/www.moneysense.gov.sg\/what-to-ask-before-buying-health-insurance\/)[Understanding Integrated Shield Plans](https:\/\/www.moneysense.gov.sg\/integrated-shield-plans\/)[Understanding Life Insurance](https:\/\/www.moneysense.gov.sg\/life-insurance\/)[What To Ask Before Buying Life Insurance](https:\/\/www.moneysense.gov.sg\/what-to-ask-before-buying-life-insurance\/)[Understanding Term Insurance](https:\/\/www.moneysense.gov.sg\/term-insurance\/)[Life Insurance: Comparing Term and Bundled Products](https:\/\/www.moneysense.gov.sg\/term-vs-whole-life\/)[Understanding Whole Life Insurance](https:\/\/www.moneysense.gov.sg\/understanding-whole-life-insurance\/)[Understanding Investment Linked Insurance Policies](https:\/\/www.moneysense.gov.sg\/understanding-investment-linked-insurance-policies\/)[Understanding Critical Illness Insurance](https:\/\/www.moneysense.gov.sg\/critical-illness-insurance\/)[Buying Life Insurance Online](https:\/\/www.moneysense.gov.sg\/buying-life-insurance-online\/)[Buying Direct Purchase Insurance](https:\/\/www.moneysense.gov.sg\/buying-direct-purchase-insurance\/)\n\n[Investing](https:\/\/www.moneysense.gov.sg\/what-is-investing\/)\n\n[What Is Investing?](https:\/\/www.moneysense.gov.sg\/what-is-investing\/)[An introduction To Types Of Investments](https:\/\/www.moneysense.gov.sg\/investments\/types-of-investments\/)[Managing Investment Risk](https:\/\/www.moneysense.gov.sg\/investments\/investment-risk\/)[What To Ask When Buying An Investment Product](https:\/\/www.moneysense.gov.sg\/what-to-ask-when-buying-an-investment-product\/)[Financial Advice: Who You Could Be Dealing With](https:\/\/www.moneysense.gov.sg\/financial-advice-who-you-could-be-dealing-with\/)[Financial Advisory Process](https:\/\/www.moneysense.gov.sg\/financial-advisory-process\/)[Putting Together An Investment Portfolio](https:\/\/www.moneysense.gov.sg\/investments\/investment-portfolio\/)[A Step By Step Guide To Start Trading](https:\/\/www.moneysense.gov.sg\/a-step-by-step-guide-to-start-trading\/)[What You Need To Know To Take Care Of Your Investment Portfolio](https:\/\/www.moneysense.gov.sg\/what-you-need-to-know-to-take-care-of-your-investment-portfolio\/)\n\n[Retirement Planning](https:\/\/www.moneysense.gov.sg\/legacy-planning\/planning-for-retirement\/)\n\n[Planning For Retirement](https:\/\/www.moneysense.gov.sg\/legacy-planning\/planning-for-retirement\/)[Determine Your Retirement Needs](https:\/\/www.moneysense.gov.sg\/legacy-planning\/retirement-needs\/)[Options For Your Retirement Income](https:\/\/www.moneysense.gov.sg\/options-for-your-retirement-income\/)[Lasting Power Of Attorney](https:\/\/www.moneysense.gov.sg\/legacy-planning\/lpa\/)[Understanding Estate Planning](https:\/\/www.moneysense.gov.sg\/understanding-estate-planning\/)[Intestacy: What If You Don't Have An Estate Plan?](https:\/\/www.moneysense.gov.sg\/intestacy-what-if-you-don-t-have-an-estate-plan\/)[Deciding How To Transfer Your Estate](https:\/\/www.moneysense.gov.sg\/deciding-how-to-transfer-your-estate\/)[CPF Nominations: What Happens To Your CPF When You Pass Away?](https:\/\/www.moneysense.gov.sg\/cpf-nominations-what-happens-to-your-cpf-when-you-pass-away\/)[What Is A Will?](https:\/\/www.moneysense.gov.sg\/legacy-planning\/will\/)[What Is Probate?](https:\/\/www.moneysense.gov.sg\/what-is-probate\/)[What Is A Trust?](https:\/\/www.moneysense.gov.sg\/what-is-a-trust\/)\n\n- [HOME](https:\/\/www.moneysense.gov.sg\/)\n- [GUIDE TO ETFS: UNDERSTANDING EXCHANGE TRADED FUNDS...](https:\/\/www.moneysense.gov.sg\/guide-to-etfs-understanding-exchange-traded-funds\/)\n# **Guide to ETFs: Understanding Exchange Traded Funds**\n\n![](https:\/\/www.moneysense.gov.sg\/images\/2018%20MoneySense%20website%20images\/businessmen_pointing_charts6cff.jpg)\n\n### Key Takeaways\n- ETFs are investment funds listed and traded on a stock exchange\n- Many aim to track the returns of a stock or commodity index\n- Many ETFs listed on SGX are complex structures involving the use of derivatives. Such ETFs are classified as Specified Investment Products (SIPs)\n\nExchange traded funds (ETFs) are investment funds that are listed and traded on a stock exchange. Your money is pooled with money from other investors and invested according to the ETF's stated investment objective.\n\n### How It Works\nAn ETF typically aims to produce a return that tracks or replicates a specific index such as a stock index or commodity index.\n\nSuch index tracking ETFs are passively managed by ETF managers and do not try to outperform the underlying index. Index tracking ETFs have fees and charges that are usually lower than those of actively managed investment funds.\n\nETFs may have complex structures. They may be structured as cash-based ETFs or as synthetic ETFs, which involve the use of derivatives.   \n   \n**Note:** Many ETFs have been categorised as Specified Investment Products (SIPs). You will need to meet certain requirements to invest in them. Check with your financial institution whether the product you are considering is an SIP.\n\n### Returns Of ETFs\nYou invest in an ETF by buying units in the ETF. There is capital gain when the price of the units rises above the price paid for them. Some ETFs also pay dividends.\n\n### What Is The Most You Can Lose?\nETFs are not principal-guaranteed. You may lose all or a substantial amount of the money you invested in certain situations. The risks of investing in ETFs are described in the prospectus and product highlights sheet.\n\n### Why Invest In ETFs?\nThere are many ETFs to choose from. If you buy an ETF which tracks a stock index, you gain exposure to the performance of the index. For example, investing in an ETF that tracks the Straits Times Index (STI) provides investors with exposure to the Singapore market.\n\nHere are a few advantages of investing in an ETF:\n\n- You can gain exposure to an index without having to invest in all its component stocks\n- Fees and charges tend to be lower than for actively managed investment funds, as ETFs have lower management fees – there is also usually no sales charge, although if you buy and sell [ETFs on the SGX](https:\/\/api2.sgx.com\/sites\/default\/files\/2018-11\/SGX%20ETF%20Investor%20Guide%20\\(Nov%202018\\).pdf), you would need to pay the applicable brokerage commissions or transfer taxes\n- As ETFs are traded on a stock exchange, you can buy and sell units of ETFs throughout the trading day\n### Are ETFs Suitable For You?\nInvesting in ETFs may not be for everyone. Before you invest, make sure that you:\n\n- Want potentially higher returns BUT are also prepared for variable returns which include the risk of losing all or a substantial part of your investment\n- Understand how returns are calculated and the factors that can affect returns\n- Understand the risks associated with the ETF\n- You should be aware of the risks associated with the use of derivatives by ETFs, including the consequences if the provider or counterparty of the derivative defaults\n- Are prepared to have your money tied up for long periods of time\n- A longer time horizon is generally preferred to ride out short-term price fluctuations. However, depending on the investor’s investment objective, some ETFs may be suitable for short term trading\n- Are familiar with the ETF manager and the ETF’s track record\n### What Are The Risks?\nCommon risks associated with ETFs include the following\n\n|   |   |\n|---|---|\n| **Market Risk** | You are exposed to market risk or the volatility of the specific benchmark tracked For example, the performance of an ETF tracking the Straits Times Index (STI) will be directly affected by the price fluctuations of the component stocks of the STI |\n| **Tracking Error** | Changes in an ETF’s Net Asset Value (NAV) may not exactly correspond to price changes of the index In cash-based ETFs, the manager may not be able to buy or sell the component stocks in their exact proportion, or to keep up with market or weighting changes Execution costs, investment constraints, or timing differences may also add to tracking error |\n| **Foreign Exchange Risks** | You are exposed to foreign exchange risk if you buy an ETF whose base currency is different from your own Some ETFs may trade in a currency that is different from that of the underlying assets |\n| **Liquidity Risk** | Designated market makers provide liquidity in ETFs by providing continuous bid-ask prices throughout the trading day If the market maker fails to perform its duty, liquidity may disappear, making it difficult for you to sell your ETF units |\n| **ETF’s traded price not reflective of Net Asset Value (NAV) per unit** | An ETF’s traded price may not reflect its NAV as the traded price is subject to market demand and supply |\n| **Risks from securities lending** | Assets held in cash-based structures may be used for securities lending You are exposed to the risk that the borrower of the securities defaults and does not return the securities |\n### Types Of ETFs: Cash-based VS Synthetic\nThere are different ways to structure an ETF even if its investment objective is to track the same underlying index.\n\n#### Cash-based ETF\nCash-based (or physical) ETFs are ETFs that invest directly into the assets that make up the index. They may invest in:\n\n- All of the index’s component stocks, bonds or assets\n- A representative selection of the index’s component stocks, bonds or assets\n#### Synthetic ETF\nSynthetic ETFs are ETFs that use derivative products such as swaps or access products (for example, participatory notes) to produce returns that track the relevant indices.\n\nThe use of derivatives means:\n\n- More parties are involved, e.g., the swap counterparty or the access product issuer\n- You are exposed to the risk that the swap counterparty or access product issuer defaults on its payment obligations under the swap or access product. Such a party may default if it becomes bankrupt or insolvent. The amount of loss you suffer will depend on the ETF’s exposure to the counterparty or issuer\n\nSynthetic ETFs that are swap-based may use either the unfunded or funded structure.\n***\n[![Placeholder image](https:\/\/www.moneysense.gov.sg\/images\/2018%20MoneySense%20website%20images\/digital_tablet_charts6cff.jpg)Get Started With Investing Investing is a key part of your overall financial plan. Get an introduction to the basics of investing, including concepts such as setting investment goals and objectives, risk-return trade-offs as well as diversification and asset allocation. Read more](https:\/\/www.moneysense.gov.sg\/investing\/)\n\n##### **Money Matters Made Simple \\| MoneySense**\n**[About Us](https:\/\/www.moneysense.gov.sg\/about-us\/)**\n\n**[Money Management](https:\/\/www.moneysense.gov.sg\/managing-your-money\/)**\n\n[Managing Your Money](https:\/\/www.moneysense.gov.sg\/managing-your-money\/)\n\n[Three Ways To Shape Up In Budgeting](https:\/\/www.moneysense.gov.sg\/three-ways-to-shape-up-in-budgeting\/)\n\n[Effects Of Compounding Interest](https:\/\/www.moneysense.gov.sg\/effects-of-compounding-interest\/)\n\n[Understand The Types Of Loans](https:\/\/www.moneysense.gov.sg\/understand-the-types-of-loans\/)\n\n[Understanding Credit Cards](https:\/\/www.moneysense.gov.sg\/understanding-credit-cards\/)\n\n[Understanding Credit Card Interest And Charges](https:\/\/www.moneysense.gov.sg\/understanding-credit-card-interest-and-charges\/)\n\n[Credit Reports and Creditworthiness](https:\/\/www.moneysense.gov.sg\/credit-reports-and-creditworthiness\/)\n\n[Understanding Debit Cards](https:\/\/www.moneysense.gov.sg\/understanding-debit-cards\/)\n\n[Managing Debt: What Can You Do?](https:\/\/www.moneysense.gov.sg\/managing-debt-what-can-you-do\/)\n\n**[Insurance](https:\/\/www.moneysense.gov.sg\/insurance-basics\/)**\n\n[Insurance Basics](https:\/\/www.moneysense.gov.sg\/insurance-basics\/)\n\n[Assessing Your Insurance Needs](https:\/\/www.moneysense.gov.sg\/assessing-your-insurance-needs\/)\n\n[Understanding Health Insurance](https:\/\/www.moneysense.gov.sg\/health-insurance\/)\n\n[What To Ask Before Buying Health Insurance](https:\/\/www.moneysense.gov.sg\/what-to-ask-before-buying-health-insurance\/)\n\n[Understanding Integrated Shield Plans](https:\/\/www.moneysense.gov.sg\/integrated-shield-plans\/)\n\n[Understanding Life Insurance](https:\/\/www.moneysense.gov.sg\/life-insurance\/)\n\n[What To Ask Before Buying Life Insurance](https:\/\/www.moneysense.gov.sg\/what-to-ask-before-buying-life-insurance\/)\n\n[Understanding Term Insurance](https:\/\/www.moneysense.gov.sg\/term-insurance\/)\n\n[Life Insurance: Comparing Term and Bundled Products](https:\/\/www.moneysense.gov.sg\/term-vs-whole-life\/)\n\n[Understanding Whole Life Insurance](https:\/\/www.moneysense.gov.sg\/understanding-whole-life-insurance\/)\n\n[Understanding Investment Linked Insurance Policies](https:\/\/www.moneysense.gov.sg\/understanding-investment-linked-insurance-policies\/)\n\n[Understanding Critical Illness Insurance](https:\/\/www.moneysense.gov.sg\/critical-illness-insurance\/)\n\n[Buying Life Insurance Online](https:\/\/www.moneysense.gov.sg\/buying-life-insurance-online\/)\n\n[Buying Direct Purchase Insurance](https:\/\/www.moneysense.gov.sg\/buying-direct-purchase-insurance\/)\n\n**[Investing](https:\/\/www.moneysense.gov.sg\/what-is-investing\/)**\n\n[What Is Investing?](https:\/\/www.moneysense.gov.sg\/what-is-investing\/)\n\n[An introduction To Types Of Investments](https:\/\/www.moneysense.gov.sg\/investments\/types-of-investments\/)\n\n[Managing Investment Risk](https:\/\/www.moneysense.gov.sg\/investments\/investment-risk\/)\n\n[What To Ask When Buying An Investment Product](https:\/\/www.moneysense.gov.sg\/what-to-ask-when-buying-an-investment-product\/)\n\n[Financial Advice: Who You Could Be Dealing With](https:\/\/www.moneysense.gov.sg\/financial-advice-who-you-could-be-dealing-with\/)\n\n[Financial Advisory Process](https:\/\/www.moneysense.gov.sg\/financial-advisory-process\/)\n\n[Putting Together An Investment Portfolio](https:\/\/www.moneysense.gov.sg\/investments\/investment-portfolio\/)\n\n[A Step By Step Guide To Start Trading](https:\/\/www.moneysense.gov.sg\/a-step-by-step-guide-to-start-trading\/)\n\n[What You Need To Know To Take Care Of Your Investment 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Nominations: What Happens To Your CPF When You Pass Away?](https:\/\/www.moneysense.gov.sg\/cpf-nominations-what-happens-to-your-cpf-when-you-pass-away\/)\n\n[What Is A Will?](https:\/\/www.moneysense.gov.sg\/legacy-planning\/will\/)\n\n[What Is Probate?](https:\/\/www.moneysense.gov.sg\/what-is-probate\/)\n\n[What Is A Trust?](https:\/\/www.moneysense.gov.sg\/what-is-a-trust\/)\n\n- [Feedback](https:\/\/www.mas.gov.sg\/contact-us)\n- [Report Vulnerability](https:\/\/www.tech.gov.sg\/report-vulnerability\/)\n- [Privacy Statement](https:\/\/www.moneysense.gov.sg\/privacy\/)\n- [Terms of Use](https:\/\/www.moneysense.gov.sg\/terms-of-use\/)\n\n[About Us](https:\/\/www.moneysense.gov.sg\/about-us\/)\n\n[Money Management](https:\/\/www.moneysense.gov.sg\/managing-your-money\/)\n\n[Insurance](https:\/\/www.moneysense.gov.sg\/insurance-basics\/)\n\n[Investing](https:\/\/www.moneysense.gov.sg\/what-is-investing\/)\n\n[Retirement Planning](https:\/\/www.moneysense.gov.sg\/legacy-planning\/planning-for-retirement\/)\n\n[Feedback](https:\/\/www.mas.gov.sg\/contact-us)\n\n[Report Vulnerability](https:\/\/www.tech.gov.sg\/report-vulnerability\/)\n\n[Privacy Statement](https:\/\/www.moneysense.gov.sg\/privacy\/)\n\n[Terms of Use](https:\/\/www.moneysense.gov.sg\/terms-of-use\/)\n\n- [Created with ![Isomer Logo](https:\/\/www.moneysense.gov.sg\/assets\/img\/isomer_logo.svg)](https:\/\/www.isomer.gov.sg\/)\n- [Built by ![Open Government Products Logo](https:\/\/www.moneysense.gov.sg\/assets\/img\/ogp_logo.svg)](https:\/\/www.open.gov.sg\/)\n\n© 2026 Money Matters Made Simple \\| MoneySense, Last Updated 13 Feb 2026\n\n© 2026 Money Matters Made Simple \\| MoneySense,   \nLast Updated 13 Feb 2026","attrs_readable_markdown":"![](https:\/\/www.moneysense.gov.sg\/images\/2018%20MoneySense%20website%20images\/businessmen_pointing_charts6cff.jpg)\n\n### Key Takeaways\n- ETFs are investment funds listed and traded on a stock exchange\n- Many aim to track the returns of a stock or commodity index\n- Many ETFs listed on SGX are complex structures involving the use of derivatives. Such ETFs are classified as Specified Investment Products (SIPs)\n\nExchange traded funds (ETFs) are investment funds that are listed and traded on a stock exchange. Your money is pooled with money from other investors and invested according to the ETF's stated investment objective.\n\n### How It Works\nAn ETF typically aims to produce a return that tracks or replicates a specific index such as a stock index or commodity index.\n\nSuch index tracking ETFs are passively managed by ETF managers and do not try to outperform the underlying index. Index tracking ETFs have fees and charges that are usually lower than those of actively managed investment funds.\n\nETFs may have complex structures. They may be structured as cash-based ETFs or as synthetic ETFs, which involve the use of derivatives.\n\n**Note:** Many ETFs have been categorised as Specified Investment Products (SIPs). You will need to meet certain requirements to invest in them. Check with your financial institution whether the product you are considering is an SIP.\n### Returns Of ETFs\nYou invest in an ETF by buying units in the ETF. There is capital gain when the price of the units rises above the price paid for them. Some ETFs also pay dividends.\n\n### What Is The Most You Can Lose?\nETFs are not principal-guaranteed. You may lose all or a substantial amount of the money you invested in certain situations. The risks of investing in ETFs are described in the prospectus and product highlights sheet.\n\n### Why Invest In ETFs?\nThere are many ETFs to choose from. If you buy an ETF which tracks a stock index, you gain exposure to the performance of the index. For example, investing in an ETF that tracks the Straits Times Index (STI) provides investors with exposure to the Singapore market.\n\nHere are a few advantages of investing in an ETF:\n\n- You can gain exposure to an index without having to invest in all its component stocks\n- Fees and charges tend to be lower than for actively managed investment funds, as ETFs have lower management fees – there is also usually no sales charge, although if you buy and sell [ETFs on the SGX](https:\/\/api2.sgx.com\/sites\/default\/files\/2018-11\/SGX%20ETF%20Investor%20Guide%20\\(Nov%202018\\).pdf), you would need to pay the applicable brokerage commissions or transfer taxes\n- As ETFs are traded on a stock exchange, you can buy and sell units of ETFs throughout the trading day\n### Are ETFs Suitable For You?\nInvesting in ETFs may not be for everyone. Before you invest, make sure that you:\n\n- Want potentially higher returns BUT are also prepared for variable returns which include the risk of losing all or a substantial part of your investment\n- Understand how returns are calculated and the factors that can affect returns\n- Understand the risks associated with the ETF\n- You should be aware of the risks associated with the use of derivatives by ETFs, including the consequences if the provider or counterparty of the derivative defaults\n- Are prepared to have your money tied up for long periods of time\n- A longer time horizon is generally preferred to ride out short-term price fluctuations. However, depending on the investor’s investment objective, some ETFs may be suitable for short term trading\n- Are familiar with the ETF manager and the ETF’s track record\n### What Are The Risks?\nCommon risks associated with ETFs include the following\n\n|   |   |\n|---|---|\n| **Market Risk** | You are exposed to market risk or the volatility of the specific benchmark tracked For example, the performance of an ETF tracking the Straits Times Index (STI) will be directly affected by the price fluctuations of the component stocks of the STI |\n| **Tracking Error** | Changes in an ETF’s Net Asset Value (NAV) may not exactly correspond to price changes of the index In cash-based ETFs, the manager may not be able to buy or sell the component stocks in their exact proportion, or to keep up with market or weighting changes Execution costs, investment constraints, or timing differences may also add to tracking error |\n| **Foreign Exchange Risks** | You are exposed to foreign exchange risk if you buy an ETF whose base currency is different from your own Some ETFs may trade in a currency that is different from that of the underlying assets |\n| **Liquidity Risk** | Designated market makers provide liquidity in ETFs by providing continuous bid-ask prices throughout the trading day If the market maker fails to perform its duty, liquidity may disappear, making it difficult for you to sell your ETF units |\n| **ETF’s traded price not reflective of Net Asset Value (NAV) per unit** | An ETF’s traded price may not reflect its NAV as the traded price is subject to market demand and supply |\n| **Risks from securities lending** | Assets held in cash-based structures may be used for securities lending You are exposed to the risk that the borrower of the securities defaults and does not return the securities |\n### Types Of ETFs: Cash-based VS Synthetic\nThere are different ways to structure an ETF even if its investment objective is to track the same underlying index.\n\n#### Cash-based ETF\nCash-based (or physical) ETFs are ETFs that invest directly into the assets that make up the index. They may invest in:\n\n- All of the index’s component stocks, bonds or assets\n- A representative selection of the index’s component stocks, bonds or assets\n#### Synthetic ETF\nSynthetic ETFs are ETFs that use derivative products such as swaps or access products (for example, participatory notes) to produce returns that track the relevant indices.\n\nThe use of derivatives means:\n\n- More parties are involved, e.g., the swap counterparty or the access product issuer\n- You are exposed to the risk that the swap counterparty or access product issuer defaults on its payment obligations under the swap or access product. Such a party may default if it becomes bankrupt or insolvent. The amount of loss you suffer will depend on the ETF’s exposure to the counterparty or issuer\n\nSynthetic ETFs that are swap-based may use either the unfunded or funded structure.\n***","meta_canonical":null}

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Boilerpipe Text	Key Takeaways ETFs are investment funds listed and traded on a stock exchange Many aim to track the returns of a stock or commodity index Many ETFs listed on SGX are complex structures involving the use of derivatives. Such ETFs are classified as Specified Investment Products (SIPs) Exchange traded funds (ETFs) are investment funds that are listed and traded on a stock exchange. Your money is pooled with money from other investors and invested according to the ETF's stated investment objective. How It Works An ETF typically aims to produce a return that tracks or replicates a specific index such as a stock index or commodity index. Such index tracking ETFs are passively managed by ETF managers and do not try to outperform the underlying index. Index tracking ETFs have fees and charges that are usually lower than those of actively managed investment funds. ETFs may have complex structures. They may be structured as cash-based ETFs or as synthetic ETFs, which involve the use of derivatives. Note: Many ETFs have been categorised as Specified Investment Products (SIPs). You will need to meet certain requirements to invest in them. Check with your financial institution whether the product you are considering is an SIP. Returns Of ETFs You invest in an ETF by buying units in the ETF. There is capital gain when the price of the units rises above the price paid for them. Some ETFs also pay dividends. What Is The Most You Can Lose? ETFs are not principal-guaranteed. You may lose all or a substantial amount of the money you invested in certain situations. The risks of investing in ETFs are described in the prospectus and product highlights sheet. Why Invest In ETFs? There are many ETFs to choose from. If you buy an ETF which tracks a stock index, you gain exposure to the performance of the index. For example, investing in an ETF that tracks the Straits Times Index (STI) provides investors with exposure to the Singapore market. Here are a few advantages of investing in an ETF: You can gain exposure to an index without having to invest in all its component stocks Fees and charges tend to be lower than for actively managed investment funds, as ETFs have lower management fees – there is also usually no sales charge, although if you buy and sell ETFs on the SGX , you would need to pay the applicable brokerage commissions or transfer taxes As ETFs are traded on a stock exchange, you can buy and sell units of ETFs throughout the trading day Are ETFs Suitable For You? Investing in ETFs may not be for everyone. Before you invest, make sure that you: Want potentially higher returns BUT are also prepared for variable returns which include the risk of losing all or a substantial part of your investment Understand how returns are calculated and the factors that can affect returns Understand the risks associated with the ETF You should be aware of the risks associated with the use of derivatives by ETFs, including the consequences if the provider or counterparty of the derivative defaults Are prepared to have your money tied up for long periods of time A longer time horizon is generally preferred to ride out short-term price fluctuations. However, depending on the investor’s investment objective, some ETFs may be suitable for short term trading Are familiar with the ETF manager and the ETF’s track record What Are The Risks? Common risks associated with ETFs include the following Market Risk You are exposed to market risk or the volatility of the specific benchmark tracked For example, the performance of an ETF tracking the Straits Times Index (STI) will be directly affected by the price fluctuations of the component stocks of the STI Tracking Error Changes in an ETF’s Net Asset Value (NAV) may not exactly correspond to price changes of the index In cash-based ETFs, the manager may not be able to buy or sell the component stocks in their exact proportion, or to keep up with market or weighting changes Execution costs, investment constraints, or timing differences may also add to tracking error Foreign Exchange Risks You are exposed to foreign exchange risk if you buy an ETF whose base currency is different from your own Some ETFs may trade in a currency that is different from that of the underlying assets Liquidity Risk Designated market makers provide liquidity in ETFs by providing continuous bid-ask prices throughout the trading day If the market maker fails to perform its duty, liquidity may disappear, making it difficult for you to sell your ETF units ETF’s traded price not reflective of Net Asset Value (NAV) per unit An ETF’s traded price may not reflect its NAV as the traded price is subject to market demand and supply Risks from securities lending Assets held in cash-based structures may be used for securities lending You are exposed to the risk that the borrower of the securities defaults and does not return the securities Types Of ETFs: Cash-based VS Synthetic There are different ways to structure an ETF even if its investment objective is to track the same underlying index. Cash-based ETF Cash-based (or physical) ETFs are ETFs that invest directly into the assets that make up the index. They may invest in: All of the index’s component stocks, bonds or assets A representative selection of the index’s component stocks, bonds or assets Synthetic ETF Synthetic ETFs are ETFs that use derivative products such as swaps or access products (for example, participatory notes) to produce returns that track the relevant indices. The use of derivatives means: More parties are involved, e.g., the swap counterparty or the access product issuer You are exposed to the risk that the swap counterparty or access product issuer defaults on its payment obligations under the swap or access product. Such a party may default if it becomes bankrupt or insolvent. The amount of loss you suffer will depend on the ETF’s exposure to the counterparty or issuer Synthetic ETFs that are swap-based may use either the unfunded or funded structure.
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[HOME](https://www.moneysense.gov.sg/) - [GUIDE TO ETFS: UNDERSTANDING EXCHANGE TRADED FUNDS...](https://www.moneysense.gov.sg/guide-to-etfs-understanding-exchange-traded-funds/) # Guide to ETFs: Understanding Exchange Traded Funds ![](https://www.moneysense.gov.sg/images/2018%20MoneySense%20website%20images/businessmen_pointing_charts6cff.jpg) ### Key Takeaways - ETFs are investment funds listed and traded on a stock exchange - Many aim to track the returns of a stock or commodity index - Many ETFs listed on SGX are complex structures involving the use of derivatives. Such ETFs are classified as Specified Investment Products (SIPs) Exchange traded funds (ETFs) are investment funds that are listed and traded on a stock exchange. Your money is pooled with money from other investors and invested according to the ETF's stated investment objective. ### How It Works An ETF typically aims to produce a return that tracks or replicates a specific index such as a stock index or commodity index. Such index tracking ETFs are passively managed by ETF managers and do not try to outperform the underlying index. Index tracking ETFs have fees and charges that are usually lower than those of actively managed investment funds. ETFs may have complex structures. They may be structured as cash-based ETFs or as synthetic ETFs, which involve the use of derivatives. Note: Many ETFs have been categorised as Specified Investment Products (SIPs). You will need to meet certain requirements to invest in them. Check with your financial institution whether the product you are considering is an SIP. ### Returns Of ETFs You invest in an ETF by buying units in the ETF. There is capital gain when the price of the units rises above the price paid for them. Some ETFs also pay dividends. ### What Is The Most You Can Lose? ETFs are not principal-guaranteed. You may lose all or a substantial amount of the money you invested in certain situations. The risks of investing in ETFs are described in the prospectus and product highlights sheet. ### Why Invest In ETFs? There are many ETFs to choose from. If you buy an ETF which tracks a stock index, you gain exposure to the performance of the index. For example, investing in an ETF that tracks the Straits Times Index (STI) provides investors with exposure to the Singapore market. Here are a few advantages of investing in an ETF: - You can gain exposure to an index without having to invest in all its component stocks - Fees and charges tend to be lower than for actively managed investment funds, as ETFs have lower management fees – there is also usually no sales charge, although if you buy and sell [ETFs on the SGX](https://api2.sgx.com/sites/default/files/2018-11/SGX%20ETF%20Investor%20Guide%20\(Nov%202018\).pdf), you would need to pay the applicable brokerage commissions or transfer taxes - As ETFs are traded on a stock exchange, you can buy and sell units of ETFs throughout the trading day ### Are ETFs Suitable For You? Investing in ETFs may not be for everyone. Before you invest, make sure that you: - Want potentially higher returns BUT are also prepared for variable returns which include the risk of losing all or a substantial part of your investment - Understand how returns are calculated and the factors that can affect returns - Understand the risks associated with the ETF - You should be aware of the risks associated with the use of derivatives by ETFs, including the consequences if the provider or counterparty of the derivative defaults - Are prepared to have your money tied up for long periods of time - A longer time horizon is generally preferred to ride out short-term price fluctuations. However, depending on the investor’s investment objective, some ETFs may be suitable for short term trading - Are familiar with the ETF manager and the ETF’s track record ### What Are The Risks? Common risks associated with ETFs include the following \| \| \| \|---\|---\| \| Market Risk \| You are exposed to market risk or the volatility of the specific benchmark tracked For example, the performance of an ETF tracking the Straits Times Index (STI) will be directly affected by the price fluctuations of the component stocks of the STI \| \| Tracking Error \| Changes in an ETF’s Net Asset Value (NAV) may not exactly correspond to price changes of the index In cash-based ETFs, the manager may not be able to buy or sell the component stocks in their exact proportion, or to keep up with market or weighting changes Execution costs, investment constraints, or timing differences may also add to tracking error \| \| Foreign Exchange Risks \| You are exposed to foreign exchange risk if you buy an ETF whose base currency is different from your own Some ETFs may trade in a currency that is different from that of the underlying assets \| \| Liquidity Risk \| Designated market makers provide liquidity in ETFs by providing continuous bid-ask prices throughout the trading day If the market maker fails to perform its duty, liquidity may disappear, making it difficult for you to sell your ETF units \| \| ETF’s traded price not reflective of Net Asset Value (NAV) per unit \| An ETF’s traded price may not reflect its NAV as the traded price is subject to market demand and supply \| \| Risks from securities lending \| Assets held in cash-based structures may be used for securities lending You are exposed to the risk that the borrower of the securities defaults and does not return the securities \| ### Types Of ETFs: Cash-based VS Synthetic There are different ways to structure an ETF even if its investment objective is to track the same underlying index. #### Cash-based ETF Cash-based (or physical) ETFs are ETFs that invest directly into the assets that make up the index. They may invest in: - All of the index’s component stocks, bonds or assets - A representative selection of the index’s component stocks, bonds or assets #### Synthetic ETF Synthetic ETFs are ETFs that use derivative products such as swaps or access products (for example, participatory notes) to produce returns that track the relevant indices. The use of derivatives means: - More parties are involved, e.g., the swap counterparty or the access product issuer - You are exposed to the risk that the swap counterparty or access product issuer defaults on its payment obligations under the swap or access product. Such a party may default if it becomes bankrupt or insolvent. The amount of loss you suffer will depend on the ETF’s exposure to the counterparty or issuer Synthetic ETFs that are swap-based may use either the unfunded or funded structure. * [![Placeholder image](https://www.moneysense.gov.sg/images/2018%20MoneySense%20website%20images/digital_tablet_charts6cff.jpg)Get Started With Investing Investing is a key part of your overall financial plan. Get an introduction to the basics of investing, including concepts such as setting investment goals and objectives, risk-return trade-offs as well as diversification and asset allocation. 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Readable Markdown	![](https://www.moneysense.gov.sg/images/2018%20MoneySense%20website%20images/businessmen_pointing_charts6cff.jpg) ### Key Takeaways - ETFs are investment funds listed and traded on a stock exchange - Many aim to track the returns of a stock or commodity index - Many ETFs listed on SGX are complex structures involving the use of derivatives. Such ETFs are classified as Specified Investment Products (SIPs) Exchange traded funds (ETFs) are investment funds that are listed and traded on a stock exchange. Your money is pooled with money from other investors and invested according to the ETF's stated investment objective. ### How It Works An ETF typically aims to produce a return that tracks or replicates a specific index such as a stock index or commodity index. Such index tracking ETFs are passively managed by ETF managers and do not try to outperform the underlying index. Index tracking ETFs have fees and charges that are usually lower than those of actively managed investment funds. ETFs may have complex structures. They may be structured as cash-based ETFs or as synthetic ETFs, which involve the use of derivatives. Note: Many ETFs have been categorised as Specified Investment Products (SIPs). You will need to meet certain requirements to invest in them. Check with your financial institution whether the product you are considering is an SIP. ### Returns Of ETFs You invest in an ETF by buying units in the ETF. There is capital gain when the price of the units rises above the price paid for them. Some ETFs also pay dividends. ### What Is The Most You Can Lose? ETFs are not principal-guaranteed. You may lose all or a substantial amount of the money you invested in certain situations. The risks of investing in ETFs are described in the prospectus and product highlights sheet. ### Why Invest In ETFs? There are many ETFs to choose from. If you buy an ETF which tracks a stock index, you gain exposure to the performance of the index. For example, investing in an ETF that tracks the Straits Times Index (STI) provides investors with exposure to the Singapore market. Here are a few advantages of investing in an ETF: - You can gain exposure to an index without having to invest in all its component stocks - Fees and charges tend to be lower than for actively managed investment funds, as ETFs have lower management fees – there is also usually no sales charge, although if you buy and sell [ETFs on the SGX](https://api2.sgx.com/sites/default/files/2018-11/SGX%20ETF%20Investor%20Guide%20\(Nov%202018\).pdf), you would need to pay the applicable brokerage commissions or transfer taxes - As ETFs are traded on a stock exchange, you can buy and sell units of ETFs throughout the trading day ### Are ETFs Suitable For You? Investing in ETFs may not be for everyone. Before you invest, make sure that you: - Want potentially higher returns BUT are also prepared for variable returns which include the risk of losing all or a substantial part of your investment - Understand how returns are calculated and the factors that can affect returns - Understand the risks associated with the ETF - You should be aware of the risks associated with the use of derivatives by ETFs, including the consequences if the provider or counterparty of the derivative defaults - Are prepared to have your money tied up for long periods of time - A longer time horizon is generally preferred to ride out short-term price fluctuations. However, depending on the investor’s investment objective, some ETFs may be suitable for short term trading - Are familiar with the ETF manager and the ETF’s track record ### What Are The Risks? Common risks associated with ETFs include the following \| \| \| \|---\|---\| \| Market Risk \| You are exposed to market risk or the volatility of the specific benchmark tracked For example, the performance of an ETF tracking the Straits Times Index (STI) will be directly affected by the price fluctuations of the component stocks of the STI \| \| Tracking Error \| Changes in an ETF’s Net Asset Value (NAV) may not exactly correspond to price changes of the index In cash-based ETFs, the manager may not be able to buy or sell the component stocks in their exact proportion, or to keep up with market or weighting changes Execution costs, investment constraints, or timing differences may also add to tracking error \| \| Foreign Exchange Risks \| You are exposed to foreign exchange risk if you buy an ETF whose base currency is different from your own Some ETFs may trade in a currency that is different from that of the underlying assets \| \| Liquidity Risk \| Designated market makers provide liquidity in ETFs by providing continuous bid-ask prices throughout the trading day If the market maker fails to perform its duty, liquidity may disappear, making it difficult for you to sell your ETF units \| \| ETF’s traded price not reflective of Net Asset Value (NAV) per unit \| An ETF’s traded price may not reflect its NAV as the traded price is subject to market demand and supply \| \| Risks from securities lending \| Assets held in cash-based structures may be used for securities lending You are exposed to the risk that the borrower of the securities defaults and does not return the securities \| ### Types Of ETFs: Cash-based VS Synthetic There are different ways to structure an ETF even if its investment objective is to track the same underlying index. #### Cash-based ETF Cash-based (or physical) ETFs are ETFs that invest directly into the assets that make up the index. They may invest in: - All of the index’s component stocks, bonds or assets - A representative selection of the index’s component stocks, bonds or assets #### Synthetic ETF Synthetic ETFs are ETFs that use derivative products such as swaps or access products (for example, participatory notes) to produce returns that track the relevant indices. The use of derivatives means: - More parties are involved, e.g., the swap counterparty or the access product issuer - You are exposed to the risk that the swap counterparty or access product issuer defaults on its payment obligations under the swap or access product. Such a party may default if it becomes bankrupt or insolvent. The amount of loss you suffer will depend on the ETF’s exposure to the counterparty or issuer Synthetic ETFs that are swap-based may use either the unfunded or funded structure. ***
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