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

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

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

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

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