You cannot call up the Exchange Traded Fund

你不能打电话给ETF说
and say, I want my money back.

我要赎回基金
It's different from a mutual fund. If you get--

这和共同基金有所不同
you would buy or sell an

你只能在证券交易所
Exchange Traded Fund on the stock exchange.

买卖ETF
The fund is traded--the Exchange Traded Fund holds a portfolio,

ETF拥有投资组合
like the SPDR holds a portfolio equivalent to the S&P 500

比如SPDR的投资组合就和标准普尔500相同
and they pay out dividends on that.

它们据此进行分红
But in the meantime,

与此同时
you can buy or sell shares in the fund on the stock exchange.

你可以在证券交易所买卖该基金
They also have what are called creation units,

还有一个概念叫做赎回单位
which are in large denominations, like millions of dollars.

它的金额很大以百万美元为单位