Exchange-traded funds (ETF) in the United States have some tax advantages compared to the unit trust in the United States. This means that it may be more efficient for an American investor to invest through an ETF structure than a unit trust structure. It has become more popular for existing unit trust to attach an ETF to the fund. This is something that some investors may not be aware about. Jason Zweig over at the Wall Street Journal have a good piece about this called Your Mutual Fund Stinks. Can This Wall Street Invention Change That? I would like to note down some of these differences for work purposes in case I forget where to find them again.
