TY  - JOUR
A1  - Bhattacharya, Utpal
A1  - Loos, Benjamin
A1  - Meyer, Steffen
A1  - Hackethal, Andreas
A1  - Kaesler, Simon M.
T1  - The dark side of ETFs and index funds
T2  - EFL quarterly : an E-Finance Lab publication
N2  - RECENTLY, PASSIVE ETFS AND INDEX FUNDS HAVE BECOME POPULAR AMONG INDIVIDUAL INVESTORS. IN OUR STUDY, WE INVESTIGATE WHETHER INDIVIDUAL INVESTORS BENEFIT FROM USING THEM. WITH DATA FROM ONE OF THE LARGEST BROKERAGES IN GERMANY, WE FIND THAT INDIVIDUAL INVESTORS WORSEN THEIR PORTFOLIO PERFORMANCE AFTER USING THESE PRODUCTS IN COMPARISON TO NON-USERS. SINCE THESE SECURITIES MAKE MARKET TIMING EASIER, FURTHER ANALYSIS REVEALS THAT THE DECREASE IN USERS’ PORTFOLIO PERFORMANCE IS PRIMARILY DUE TO BAD MARKET TIMING.
Y1  - 2013
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/57949
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-579492
SN  - 1866-1238
VL  - 2013
IS  - 3
SP  - 6
EP  - 8
PB  - E-Finance Lab e.V.
CY  - Frankfurt am Main
ER  -