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An actively managed ETF (Exchange-Traded Fund) is a type of ETF that is managed by a portfolio manager who uses their expertise and judgment to select the investments within the fund, as opposed to passively tracking an index. Unlike passive ETFs that hold a fixed basket of securities, the holdings of an actively managed ETF can change frequently as the portfolio manager adjusts the investments to take advantage of market opportunities and meet the fund's investment objectives. Actively managed ETFs often aim to outperform their benchmark index, but they may also come with higher fees compared to passive ETFs.

This is essentially "bonus points" for an ETF. Alpha is a move that is made by the portfolio manager to get a little bit extra out of their investments. This is more commonly seen in actively managed ETFs but can also happen in index-based ETFs if it outperforms the market.

Asset allocation is the process of dividing an investment portfolio among different asset categories, such as stocks, bonds, and cash. The allocation is based on an investor's goals, risk tolerance, and investment horizon. The goal of asset allocation is to balance risk and reward by considering the trade-off between potential returns and the likelihood of loss.

This is the person designated by the ETF issuer to be responsible for the creation and distribution of the shares. As the ETF grows, more shares will need to be created to keep up with demand. Vice versa, if the ETF starts to lose holders then the AP could redeem some of their shares to lower the supply and keep in line with its net asset value.

Average Daily Volume (ADV) is a metric used to measure the average number of shares or contracts traded in a given security or market on a daily basis over a specified time period, typically one month. ADV provides insight into the liquidity of a security or market and is used by investors, traders, and market participants to assess market conditions, trading activity, and the ease of entering and exiting positions. Higher ADV typically indicates a more liquid market, making it easier to buy or sell shares without significantly affecting the price. Lower ADV may suggest a less liquid market, where price movements can be more pronounced and it may be more difficult to...