Abstract: Selling exchange-traded fund (“ETF”) shares by an investment company receiving a pre-determined group of financial assets from an authorized participant in exchange for a number of ETF shares, the number of ETF shares corresponding to the group of financial assets, and the investment company purchasing a number of shares of an underlying fund, the number of shares corresponding to the group of financial assets. Redeeming ETF shares with an investment company holding a number of shares of an underlying fund by receiving ETF shares from an authorized participant, and redeeming the number of shares of the underlying fund for a first group of financial assets; obtaining a second group of financial assets; and transferring the second group of financial assets to the authorized participant.