Which of the following are characteristics of Mutual Funds or Exchange Traded Funds $($ETFs$)?$

i$.$ Managed mutual funds carry annual fees compared to index funds.

ii$.$ Mutual Funds and ETFs enable small investors to participate using small amounts of money.

iii. Mutual Funds and ETFs can not be purchased at a commercial bank.

iv$.$ Mutual Funds can not be day traded, but ETFs can be day traded.