A comparative performance analysis of type A mutual funds and exchange traded funds: A case in Borsa İstanbul (İMKB)

With regard to the level of savings, Turkey does not only lag behind developed countries but also behind similar developing countries. The widespread usage of investment instruments which will contribute to the level of savings by gaining investor's trust, meeting expectations of risk and return and provide different alternatives that matches the investors profile, are the factors providing the increase in saving levels. Despite being new in Turkey, mutual funds and exchange traded funds have become prominent in Turkey in recent years. Mutual funds and exchange traded funds can easily meet differnt expectations, especially expectations of small investors who have difficulty in managing investment portfolios by providing proffessional management advantages. Although these two investment instruments have many similarities, they also have significant differences. The aim of study is providing in-depth information regarding developing investment instruments as well as providing a zone for comparison A type mutual funds and type A exchange traded funds. For this purpose, 28 A type mutual funds and 2 A type exchange traded funds listed between the years 2008-2013 have been measured and analyzed with diffirent techniques and criterias. The results have been interpreted accordingly. Key words: A type mutual funds, A type exchange traded funds, Performance measurement techniques, risk, return.