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Passive Foreign Investment Companies (PFICs)
Oct. 04, 2016 - Wells Fargo Advisors -  Most Exchange-Traded Tracking Products (ETPs)that track an index of stocks or bonds are registered as investment companies under the Investment Company Act of 1940 (the Act). Other ETPs that have exposure to certain asset classes such as commodities may use alternative structures that generally are not registered under the Act.  
Geared ETPs
Oct. 03, 2016 - Wells Fargo Advisors -  • We will borrow the British expression for leverage — gearing — to refer to leveraged, inverse and/or leveraged-inverse exchange-traded tracking products1 (ETPs.) F

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