Big Active ETF Milestones on the horizon:

1.) At ~$995 Bil active ETF AUM is just shy of the $1 Tril mark
2.) By count, active ETFs now represent ~49% of all ETFs.
3.) Discretionary active ETFs still account for a minority of active ETF assets (see Morningstar Direct data below as of 2/19/25)

Cumulative estimated net flows since the dawn of the ETF Era in the U.S. in 1993:

- Active Mutual Funds - $144.8 Bil
- Passive Mutual Funds - $2.3 Tril
- Passive ETFs - $5.9 Tril
- Active ETFs - $674.1 Bil

Source: Morningstar Direct. Data as of Oct. 31, 2024.

On the latest episode of "Big Picture in Practice", we sat down with Noel Archard, AB's Global Head of ETFs and Portfolio Solutions, to discuss ETFs, SMAs, interval funds, and more.

www.morningstar.com/business/ins...

Bingo!

Mostly DFA, Avantis, Fidelity's "Enhanced" range of mutual fund converts and newer ETFs, etc.

Here's a look at cumulative YTD flows across different flavors of active ETFs.

It's noteworthy that flows into discretionary active ETFs have accelerated recently, and the recent spike in discretionary equity flows traces back to $JGLO, which most've gotten a big model/multi-asset allocation.

Systematic active equity ETFs (think $DFAC, $AVUS) are still the largest segment of the active ETF universe, but discretionary fixed-income ETFs ($JPST, $FBND, et al) are gaining ground, as manifest in their relatively larger share of YTD flows.

🚨Pre-Announcing My Black Friday Special🚨

For a mere $62,000, I will duct tape any piece of fruit you'd like to a wall of your choosing.

This represents a 99% savings vs. the going retail rate.

Act now!

Deck your walls with fresh produce before the holidays!