由于税收效率和较低的成本，ETF 越来越受欢迎，管理着 10.7 万亿美元。 ETFs surge in popularity, managing $10.7 trillion, due to tax efficiency and lower costs.

ETF 在美国越来越受欢迎，管理着 10.7 万亿美元的资产，部分原因是与共同基金相比，税收效率更高。 ETFs have surged in popularity in the U.S., managing $10.7 trillion in assets, partly due to better tax efficiency compared to mutual funds. ETF 使用“实物”创建和赎回过程，避免将资本收益转嫁给投资者，使其更加税收友好。 ETFs use an 'in-kind' creation and redemption process that avoids passing capital gains to investors, making them more tax-friendly. 这一优势以及较低的成本推动了向 ETF 的转变，被动指数基金现在持有约 53% 的长期开放式和 ETF 资产。 This advantage, along with lower costs, has driven a shift towards ETFs, with passive index funds now holding around 53% of long-term open-end and ETF assets.