"Liquid ETFs have been designed with an aim of offering investors a highly liquid and cost-effective investment instrument. The diversified portfolio consists of short-term, low-risk debt securities, such as treasury bills, certificates of deposit, commercial papers, and collateralised lending and borrowing obligations with residual maturities ranging up to a maximum of 91 days. The units of this ETF are traded on stock exchanges just like individual stocks," says Chintan Haria, Head - Investment Strategy, ICICI Prudential AMC