Skip to main content

Main menu

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JBIS
    • Editorial Board
    • Published Ahead of Print (PAP)
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • Webinars
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter

User menu

  • Sample our Content
  • Request a Demo
  • Log in

Search

  • ADVANCED SEARCH: Discover more content by journal, author or time frame
The Journal of Index Investing
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • Webinars
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • Sample our Content
  • Request a Demo
  • Log in
The Journal of Index Investing

The Journal of Index Investing

ADVANCED SEARCH: Discover more content by journal, author or time frame

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JBIS
    • Editorial Board
    • Published Ahead of Print (PAP)
  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter

It’s All about Active ETFs

Phil Mackintosh
The Journal of Beta Investment Strategies Spring 2017, 7 (4) 6-15; DOI: https://doi.org/10.3905/jii.2017.7.4.006
Phil Mackintosh
is the head of Trading Strategy & Analysis and an analyst at KCG in New York, NY.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • For correspondence: pmackint@kcg.com
  • Article
  • Info & Metrics
  • PDF (Subscribers Only)
Loading

Click to login and read the full article.

Don’t have access? Click here to request a demo 
Alternatively, Call a member of the team to discuss membership options
US and Overseas: +1 646-931-9045
UK: 0207 139 1600

Abstract

It looks like exchange-traded funds (ETFs) are eating mutual funds’ lunch. Although we think this is more an index versus active story, it has not stopped mutual funds from looking to convert their active strategies into ETFs.

The active ETF space is already alive and well: Active strategies already exist in the form of transparent active and smart beta funds. Although assets in these funds remain small, they are on a growth path that is consistent with that of index funds. The arbitrage mechanism helps active and smart beta ETFs track their net asset values very well, which is good for investors. Nontransparent active ETFs would help larger, active managers hide their trades from predatory traders and might also lower transaction and holding costs to investors. To date, none has been approved because of concerns over their tradeability. We think that they would likely have wider spreads than current ETFs but would trade much better than closed-end funds (which also trade on exchange intraday).

TOPICS: Exchange-traded funds and applications, mutual fund performance

  • © 2017 Pageant Media Ltd
View Full Text

Don’t have access? Click here to request a demo

Alternatively, Call a member of the team to discuss membership options

US and Overseas: +1 646-931-9045

UK: 0207 139 1600

Log in using your username and password

Forgot your user name or password?
PreviousNext
Back to top

Explore our content to discover more relevant research

  • By topic
  • Across journals
  • From the experts
  • Monthly highlights
  • Special collections

In this issue

The Journal of Index Investing: 7 (4)
The Journal of Beta Investment Strategies
Vol. 7, Issue 4
Spring 2017
  • Table of Contents
  • Index by author
Print
Download PDF
Article Alerts
Sign In to Email Alerts with your Email Address
Email Article

Thank you for your interest in spreading the word on The Journal of Index Investing.

NOTE: We only request your email address so that the person you are recommending the page to knows that you wanted them to see it, and that it is not junk mail. We do not capture any email address.

Enter multiple addresses on separate lines or separate them with commas.
It’s All about Active ETFs
(Your Name) has sent you a message from The Journal of Index Investing
(Your Name) thought you would like to see the The Journal of Index Investing web site.
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Citation Tools
It’s All about Active ETFs
Phil Mackintosh
The Journal of Beta Investment Strategies Feb 2017, 7 (4) 6-15; DOI: 10.3905/jii.2017.7.4.006

Citation Manager Formats

  • BibTeX
  • Bookends
  • EasyBib
  • EndNote (tagged)
  • EndNote 8 (xml)
  • Medlars
  • Mendeley
  • Papers
  • RefWorks Tagged
  • Ref Manager
  • RIS
  • Zotero
Save To My Folders
Share
It’s All about Active ETFs
Phil Mackintosh
The Journal of Beta Investment Strategies Feb 2017, 7 (4) 6-15; DOI: 10.3905/jii.2017.7.4.006
del.icio.us logo Digg logo Reddit logo Twitter logo Facebook logo Google logo LinkedIn logo Mendeley logo
Tweet Widget Facebook Like LinkedIn logo

Jump to section

  • Article
    • Abstract
    • ARE ETFS REPLACING MUTUAL FUNDS?
    • BETA TO ALPHA: AN INVESTOR CONTINUUM
    • CHARACTERISTICS OF LISTED FUNDS
    • THE MISSING LINK: NONTRANSPARENT ACTIVE ETFs
    • CONCLUSION
    • Footnotes
    • REFERENCES
  • Info & Metrics
  • PDF (Subscribers Only)
  • PDF (Subscribers Only)

Similar Articles

Cited By...

  • Risk-Adjusted Performance of the Largest Active ETFs
  • Google Scholar
LONDON
One London Wall, London, EC2Y 5EA
United Kingdom
+44 207 139 1600
 
NEW YORK
41 Madison Avenue, New York, NY 10010
USA
+1 646 931 9045
pm-research@pageantmedia.com
 

Stay Connected

  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter

MORE FROM PMR

  • Home
  • Awards
  • Investment Guides
  • Videos
  • About PMR

INFORMATION FOR

  • Academics
  • Agents
  • Authors
  • Content Usage Terms

GET INVOLVED

  • Advertise
  • Publish
  • Article Licensing
  • Contact Us
  • Subscribe Now
  • Sign In
  • Update your profile
  • Give us your feedback

© 2022 Pageant Media Ltd | All Rights Reserved | ISSN: 2154-7238 | E-ISSN: 2374-135X

  • Site Map
  • Terms & Conditions
  • Privacy Policy
  • Cookies