指數股票型基金與主動式基金的差異性對其績效影響之研究
碩士 === 佛光大學 === 應用經濟學系 === 107 === The domestic ETF started from the 2003 Yuanda Taiwan 50. After the subprime mortgage crisis in 2008, it began to grow. The fund size has continued to expand since then. Due to its fund operation mode and characteristics, it has obtained love and trust from the publ...
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ndltd-TW-107FGU003890082019-11-21T05:33:39Z http://ndltd.ncl.edu.tw/handle/ef3cuc 指數股票型基金與主動式基金的差異性對其績效影響之研究 LEE,TSUNG-HSIEN 李宗賢 碩士 佛光大學 應用經濟學系 107 The domestic ETF started from the 2003 Yuanda Taiwan 50. After the subprime mortgage crisis in 2008, it began to grow. The fund size has continued to expand since then. Due to its fund operation mode and characteristics, it has obtained love and trust from the public , and become a good tool for investment. The research topics are (1) comparing the performance of active funds and ETF(2) discussing the impact of the differences between active funds and ETF on their performance, with standard deviation , fund size , fund trading cost and Sharp ratio. The relationship between the four variables such as Fund size and Sharp ratio and the performance is analyzed by OLS regression model to explore the correlation between the funds compensation and variables of active funds and ETF. After the empirical study, the main conclusions are as follows: the performance of domestic ETF is still unable to lead the active fund, which also indicates that the active funds in Taiwan still have their markets. The Sharp ratio and the ETF performance have a positive and significant relationship. In the future, the Sharp ratio is a good reference index when selecting ETF. ETF aim to track specific indices, which have low-cost, low-volatility and are less active than human-induced operations and manager replacement, and have the characteristics of diversified investment risks, although their performance isn’t better than active funds but the long-term performance of some funds is still suitable for investors who value risk more than performance. 李喬銘 2019 學位論文 ; thesis 59 zh-TW |
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碩士 === 佛光大學 === 應用經濟學系 === 107 === The domestic ETF started from the 2003 Yuanda Taiwan 50. After the subprime mortgage crisis in 2008, it began to grow. The fund size has continued to expand since then. Due to its fund operation mode and characteristics, it has obtained love and trust from the public , and become a good tool for investment.
The research topics are (1) comparing the performance of active funds and ETF(2) discussing the impact of the differences between active funds and ETF on their performance, with standard deviation , fund size , fund trading cost and Sharp ratio. The relationship between the four variables such as Fund size and Sharp ratio and the performance is analyzed by OLS regression model to explore the correlation between the funds compensation and variables of active funds and ETF.
After the empirical study, the main conclusions are as follows: the performance of domestic ETF is still unable to lead the active fund, which also indicates that the active funds in Taiwan still have their markets. The Sharp ratio and the ETF performance have a positive and significant relationship. In the future, the Sharp ratio is a good reference index when selecting ETF. ETF aim to track specific indices, which have low-cost, low-volatility and are less active than human-induced operations and manager replacement, and have the characteristics of diversified investment risks, although their performance isn’t better than active funds but the long-term performance of some funds is still suitable for investors who value risk more than performance.
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李喬銘 |
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李喬銘 LEE,TSUNG-HSIEN 李宗賢 |
author |
LEE,TSUNG-HSIEN 李宗賢 |
spellingShingle |
LEE,TSUNG-HSIEN 李宗賢 指數股票型基金與主動式基金的差異性對其績效影響之研究 |
author_sort |
LEE,TSUNG-HSIEN |
title |
指數股票型基金與主動式基金的差異性對其績效影響之研究 |
title_short |
指數股票型基金與主動式基金的差異性對其績效影響之研究 |
title_full |
指數股票型基金與主動式基金的差異性對其績效影響之研究 |
title_fullStr |
指數股票型基金與主動式基金的差異性對其績效影響之研究 |
title_full_unstemmed |
指數股票型基金與主動式基金的差異性對其績效影響之研究 |
title_sort |
指數股票型基金與主動式基金的差異性對其績效影響之研究 |
publishDate |
2019 |
url |
http://ndltd.ncl.edu.tw/handle/ef3cuc |
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