Today, ETFs are one of the most rapidly growing areas in the investment fund industry worldwide. ETFs are expected to increasingly capture new investment flows from individual investors, financial advisors, and large institutional managers. The mutual fund scandals of 2003 and 2004 accelerated the trend for investors to shift money into tradable and cost efficient vehicles where they have more control over their investments, such as Closed-End Funds (CEFs), ETFs, exchange traded notes (ETNs), and exchange trade-commodities (ETCs). Some of the topics covered in this course are: