Argentine Depositary Receipts (CEDEARs) of ETFs are a financial product representing a foreign asset, in this case an Exchange Traded Fund (ETF). ETFs, or exchange-traded funds, are a hybrid between traditional investment funds and company stocks. On one hand, they are formed by a basket of assets, and on the other hand, they are freely traded on the stock exchange. ETFs trade on the US market and allow investors to replicate the performance of indices, markets, industries, commodities, etc.