Everyone wants a safe and reliable vehicle. So, when buying a car, experts recommend that it's a good idea to pop the hood and take a look inside. What you see may tell you a lot about the vehicle's performance, cost and reliability for years to come. The same is true for active semi-transparent exchange-traded funds (ETFs). This is a new type of ETF that is built differently from a traditional ETF. Therefore, knowing what's under the hood is more important than ever.