Actively managed exchange-traded funds haven’t attracted assets as quickly as some have expected, but that hasn’t slowed the race to expand ETFs beyond their index-tracking roots.

Most ETFs defined as actively managed are still quantitative and formulaic. Still, the first to qualify as actively managed in the traditional sense — using analysis and known stock pickers — have already come to market, and more are on the way.

ETFs are baskets of securities that trade like individual stocks. Their structures generally offer cost and tax advantages over conventional mutual funds as well as more transparency because they disclose their holdings daily.  Read more…

PLK, PMA, PQY, PQZ, PSR