According to an MSCI advisory pulse survey released on September 14, 2026, 71% of financial advisors plan to increase their use of active exchange-traded funds over the next two years. The survey, which evaluated 450 advisors across the United States and Europe, indicates a shifting landscape where active exchange-traded funds increasingly capture market share from traditional mutual funds.
The 2026 ETF Intelligence survey found that 87% of surveyed advisors already invest in active exchange-traded funds, while 62% intend to allocate more toward passive strategies. Jana Haines, MSCI 인덱스 글로벌 총괄, noted that the industry is moving past the initial phase of advisory adoption. “Passives remain the bedrock of most advisor portfolios, but actives are steadily becoming mainstream,” Haines stated regarding the structural evolution.
Active Exchange-Traded Funds Displace Traditional Mutual Funds
Beyond capturing fresh capital, the survey highlights a direct cannibalization of older investment structures. Exactly 58% of respondents reported they would trim allocations to traditional mutual funds or UCITS vehicles if their preferred asset managers release new active exchange-traded funds.
Fund selectors are embracing multi-class integration. Half of the surveyed advisors indicated they would convert existing holdings into active exchange-traded fund versions, and 85% expressed a favorable view of ETF share classes for established strategies. This operational shift follows regulatory updates from earlier in the year, when the U.S. Securities and Exchange Commission approved final rule changes in March allowing broker-dealers to trade exchange-traded fund shares in multi-class funds.
Liquidity Concerns Limit Private Market Expansion
While advisors show enthusiasm for public market vehicles, private and illiquid assets face stricter scrutiny under exchange-traded fund structures. Although 49% of respondents recognized that exchange-traded funds offer pathways to private markets, only 16% deemed private market assets appropriate for an exchange-traded fund vehicle.
Liquidity mismatch emerged as the primary deterrent, with 62% of advisors expressing anxiety over the gap between exchange-traded fund trading liquidity and underlying asset liquidity. Additional barriers cited include valuation transparency at 50% and a lack of established track records at 44%.
Fee expectations also reflect a segmented market. Only 12% of advisors are willing to pay higher fees for core beta products, whereas 58% indicated a willingness to pay a premium for difficult-to-access strategies. Meanwhile, 68% of respondents prioritize overall liquidity and trading efficiency above other selection criteria.
Geographic Allocations and Broadening Demand
Advisor demand extends across diverse international exposures. Approximately 45% of surveyed participants plan to expand their equity allocations, with 39% favoring emerging markets and 24% prioritizing developed economies, according to the MSCI data.
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