Dictionary of Finance and Investment Terms: index shares
index shares
one of two categories of Exchange-Traded Funds. There are two forms of index shares: portfolio depositary receipts and index fund shares. Index shares represent ownership in either funds or Unit Investment Trusts that hold portfolios of common stock that closely track the performance and dividend yield of specific indices-broad market, sector, or international. Investors can buy or sell an entire portfolio of stocks embedded in a single security in the same manner they would buy any shares of common stock.
