There is plenty of evidence to show that investors don't fully understand how ETFs work, according to a plethora of new stories analyzing ETFs. But it turns out that advisers don't understand them well, either, or at least not ETF liquidity, InvestmentNews reporter Jason Kephart writes.

A new Cerulli & Associates study of ETF companies shows that ETF liquidity was ranked as the subject advisers are least knowledgeable about. Kephart spoke to Alec Papazian, an associate director of Cerulli, who said advisers tend to simply look at trading volume of ETFs.

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Edited by: Casey Quinlan


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