►Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs<br /><br />Exchange traded funds (ETFs) offer the chance to capture the returns of a whole index, but how do they work? The FT's senior investment columnist, John Authers, explains how they operate and what risks investors could face.<br /><br />► FT Markets: http://bit.ly/1J5HNd3<br /><br />► FT Global Economy: http://bit.ly/1J5mmqH<br /><br />► Making Waves on Sydney's Silicon Beach http://bit.ly/1HL38bC<br /><br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes