An exchange-traded fund (ETF) is an investment fund traded on a stock exchange that holds assets, rather than being a trading company.
Such funds typically track an index.
The New Zealand Exchange is the only provider of ETFs in New Zealand and has 35 of them, under the SmartShares brand.
[1] Some track New Zealand or Australian stocks, some invest directly into US listed Vanguard ETFs, and some have outsourced active management covering fixed income and cash.