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If you want to know, it's probably in the prospectus. I'd be shocked if termination called for anything other than liquidating the holdings of the trust and dis
by scott00 7y ago
If you want to know, it's probably in the prospectus. I'd be shocked if termination called for anything other than liquidating the holdings of the trust and distributing the proceeds pro-rata to shareholders. Even if something weird was supposed to happen, there would be at least 20 years of notice for everyone to get their money out.
- astrange 7y agoSince it's an ETF, I'm pretty sure you can hand in your SPY shares to the trust and they'll give you the underlying S&P 500 companies' shares without even having to sell.
- nimish 7y agoOnly authorized participants can do that.
- webninja 7y agoETF shares are not redeemable with the issuing Fund other than in very large aggregations worth millions of dollars. Instead, less wealthy investors must buy and sell ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may pay more than net asset value (NAV) when buying and receive less than net asset value when selling.