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quickthrowmanyesterday at 11:05 PM0 repliesview on HN

The operators of the fund are allowed to do whatever they outlined in the prospectus to track the index, some funds allow futures, options, and swaps along with equity shares to maintain parity with the index.

There are ways to gain exposure to a single stock without directly purchasing shares, options and swaps being the most common. Owning the actual shares makes things easy for the fund operators, but there are other ways.