What is a common feature of exchange-traded funds (ETFs)?

Exchange-traded funds (ETFs) are investment funds that are traded on stock exchanges, much like individual stocks. This characteristic allows investors to buy and sell shares of ETFs throughout the trading day at fluctuating market prices, as opposed to mutual funds which are only bought and sold at the end of the trading day at the fund's net asset value. The ability to trade like a stock provides investors with flexibility and liquidity, making ETFs an appealing investment vehicle for many.

The other options describe features that do not apply to ETFs: they do not have a maturity date requiring holding until maturity, they are typically available to all types of investors (not just accredited investors), and while some ETFs may have minimum investments, this is not a universal characteristic of all ETFs. Therefore, the distinctive feature of trading like a stock on an exchange is what makes option B the correct choice.