d$.$ What are some differences between EFTs and closed$-$end funds?

ETFs do not allow investors to buy or sell entire portfolios of securities as they would with shares of stock.

Both ETFs and closed$-$end funds primarily rely on the active management of their portfolios.

ETFs are more likely to be actively managed than closed$-$end funds.

ETFs typically trade at or near NAV due to arbitrage by accredited investors, while closed$-$end funds can have substantial

deviations from NAV.