Hence, for the debt mutual funds, declining bond prices of underlying holdings have been impacting the return that is a function of changing bond price. (wealthtrust.in)
Futures also serve as underlying holdings of several ETFs, especially commodity funds, which do not buy the physical commodity, but track the futures contract price. (etf.com)
I wonder if ETF's are further removed from the actual underlying holdings or assets giving value to the fund, as compared to regular mutual funds. (money.stackexchange.com)