The performance of the fund over the past 3-month period from the 6th of February to the 26th of April 2023 is presented in the figure below. Based on the figure and given information regarding fund portfolio turnover, which of the following best describes the type of fund TLW: active open-end fund, index fund, close-end fund, or exchange traded fund (ETF). Please explain your answers.

Over the 3 -month period, this fund had a portfolio turnover of 5%