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Erscheinungsjahr: 
2019
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[Journal:] Administrative Sciences [ISSN:] 2076-3387 [Volume:] 9 [Issue:] 2 [Publisher:] MDPI [Place:] Basel [Year:] 2019 [Pages:] 1-14
Verlag: 
MDPI, Basel
Zusammenfassung: 
Growing acceptance of passive bond exchange traded funds (ETFs) and actively managed bond mutual funds has exposed the need to find a divide between these two comparatively similar types of instrument. This paper provides a comparative analysis of actively managed bond funds and passive bond ETFs in the context of multiple criteria. The research of risk-adjusted performance of a sampled group of bond funds and ETFs using the TOPSIS multi-criteria decision-making method revealed that actively managed bond funds have a modest advantage over passive bond ETFs. Moreover, the final findings indicate the funds' performance dependability on portfolio composition by fixed income sector.
Schlagwörter: 
exchange traded funds (ETF)
risk
performance
bonds
TOPSIS
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