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ETFopedia

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Actively Managed ETF

Unlike most ETFs that follow a set index, this one is run by a portfolio manager who can make changes as they see fit to better the ETF. They are commonly more expensive than an ETF that follows an index but have much more room for growth than the passive ETF model.
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Alpha

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.
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Authorized Participant (AP)

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.
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Beta

This is the link between how a stock is doing relative to the market and it can also be used to see how an ETF is doing in their set market. This is a good statistic to use when you want to see how responsive a stock or ETF is to market activity, higher being more responsive.
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Bid/Ask Spread

This is the spread that people are willing to pay (bid) and sell (ask) their ETF or stock for. This means that as the spread gets wider it becomes increasingly more expensive to purchase and own.

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