Most people usually refer to index funds, when talking about the unlisted traditional managed fund version.
Whereas, ETFs, as their name suggests, trade on the exchange.
They both are passive, index tracking vehicles.
Magellan funds are definitely not index trackers. Quite the opposite. You would be very annoyed if you were paying the fees Magellan charge if they were simply replicating the index.
MHH is an active closed fund. It is essentially the polar opposite of an ETF in both its investment mandate and the structure of the fund.
