In this session from the 71st CFA Institute Annual Conference in Hong Kong, Joanne M. Hill covers highlights from the CFA Institute Research Foundation monograph, "A Comprehensive Guide to Exchange-Traded Funds (ETFs)," including how ETFs work and how to evaluate them individually—their unique investment and trading features, regulatory structure, and use in tactical and strategic portfolio management for a broad range of asset classes. Hill explores how to gain a better understanding of the strengths, weaknesses, and myths about ETFs, how they are challenging the distinction between active and passive management, and how the investment management business is adapting to growing interest in strategies packaged in ETFs.