![How To Select A Financial Advisor: The Least You Should Know (Part 18 In eBook Series)](https://www.taxconnections.com/taxblog/wp-content/uploads/Ed-Mahaffy-CFP-51.png?resize=90%2C90&ssl=1)
Chapter 18: ODDS AND ENDS
Two investment vehicles which have not been discussed thus far:
1) Exchange-traded notes
2) Non-traded Real Estate Investment Trusts (Non-traded REITs)
Exchange-traded Notes
Exchange-traded notes (ETNs) can be easily confused with exchange-traded funds (ETFs). ETNs appear to be very similar to ETFs. They are traded on an exchange just like an ETF; however, an ETN is simply a contract between the issuer and the purchaser. The return of the investment may be designed to track the stock or bond market as a whole, certain segments of the stock or bond markets, certain commodities or currencies. The purchaser typically accepts credit risk or counter-party risk from the issuer—a bank or brokerage firm, for instance.
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