I'm going to get a few details wrong, but mutual funds and ETFs go to creative legal efforts to prevent this. Funds are usually independent entities that pay th

I'm going to get a few details wrong, but mutual funds and ETFs go to creative legal efforts to prevent this. Funds are usually independent entities that pay the fund house for management and marketing services. If the fund house goes under, it doesn't hold the assets in its funds, so fundholders aren't screwed.