Analýza výkonnosti vybraných podílových fondů a srovnatelných ETF fondů

This thesis compares ETFs and mutual funds from the perspective of key investment characteristics, particularly performance, risk, cost efficiency, transparency, and liquidity. The main objective of the thesis was to assess whether ETFs can represent a more suitable alternative to traditional mutual funds from the perspective of the Czech retail investor. The practical part of the thesis focused on selected ETFs and mutual funds representing various investment strategies. The analysis utilized the Sharpe ratio, beta coefficient, and Jensen’s alpha, supplemented by a comparison of the cost efficiency, liquidity, and transparency of individual investment instruments. The results of the thesis show that ETFs achieved more favourable outcomes than mutual funds in most analysed areas during the observed period, particularly in terms of cost efficiency, transparency, and liquidity. At the same time, the hypothesis formulated in the introduction of the thesis was confirmed, namely that ETF funds, due to their characteristics, better meet the current needs of Czech retail investors.