Prepared by A-J | Author brand: 盡職生活｜阿J的普通人理財筆記
About the author/site · Vocus @WUCJ ↗ · Editorial policy
Page version: 2026-08-23 | Official or primary sources are preferred for material rules and figures. AI may assist structure, translation, and code, but is not used as the sole factual source.
About the author/site · Vocus @WUCJ ↗ · Editorial policy
Page version: 2026-08-23 | Official or primary sources are preferred for material rules and figures. AI may assist structure, translation, and code, but is not used as the sole factual source.
In one sentence: a feeder fund gives you exposure to a master ETF through a mutual-fund wrapper. You do not directly own the ETF, so trading method, fees and performance can differ.
How does it work?
Yuanta's current materials say the 0050-linked fund invests at least 90% of net assets in the 0050 master ETF. Cash and derivatives can be used for liquidity and exposure management.
Direct 0050 vs a 0050-linked fund
| Direct 0050 ETF | 0050-linked feeder fund | |
|---|---|---|
| What you own | Exchange-listed ETF units | Mutual-fund units of the feeder fund |
| Trading | Intraday exchange trading | Fund subscription / redemption |
| Price | Market price; premium/discount possible | Fund NAV mechanism |
| Main exposure | ETF portfolio | 90%+ in the master ETF plus cash/derivatives |
| Share classes | One listed security | May include distributing, accumulating and TISA classes |
Why can returns differ?
Official materials identify fund expenses, less-than-100% master-fund exposure and futures positions as key reasons. “Linked to 0050” does not mean identical daily returns.
Are management fees charged twice?
Yuanta states that the portion invested in a master fund managed by the same manager is not charged a duplicate management fee. Other feeder-fund expenses such as custody and operating costs can still apply.
Why would someone consider a feeder fund?
- They prefer fund-platform or bank DCA workflows.
- They want an accumulating share class.
- They want a TISA-eligible route.
- They prefer mutual-fund account administration over exchange trading.
Primary sources
0050 is used only as a structural example. This page does not recommend the ETF or the feeder fund. Compare current prospectus costs, risks and trading mechanics.