问题
单项选择题
Which of the following statements is least accurate with respect to the advantages of open-end exchange traded funds (ETFs) Open-end ETFs :（）
A. Provide a more cost-effective way for large institutions to invest in emerging markets.
B. Provide for more immediate reinvestment of dividends than index mutual Finds.
C. Provide lower exposure to capital gains distribution taxes than traditional mutual funds.
答案
参考答案：A
解析：
Some sector and international ETFs have large bid-ask spreads and substantial expense ratios compared to managed portfolio, which may provide a more cost-efficient alternative to ETFs, particularly for large institutional investments.