2. Understanding the difference between open-end and closed-endfunds Categorizing Mutual Funds For each of the following' statements regarding mutual funds, indicate whether it is true of open-end, closed-end, or both agen- and chosed and find. From the table, you Cl, see that mutual funds can be broken down broadly according to the fund's organization. The term mutual fund uaialis reters to funds, but, on a practical basis, it refers to both open- and dosed-end funds. Exchange-traded funds (EIF) are a particiar kint of mutual fund that has characteristics of open-end funds in that the number of shares fixed, but they are similar to closed-end furts because the shares publicly traded