According to the latest "ETF Global Market Overview" from J.P. Morgan Asset Management, the global ETF industry has grown into a massive market with assets under management reaching $22 trillion as of April 30, with net inflows continuing to hit new highs (Data source: ETDGI, Bloomberg). The world's first ETF was born in Canada in 1990, and the first U.S. ETF was launched in 1993. Following the 2008 financial crisis, ETFs entered a period of rapid development, and the ETF rule introduced by the U.S. SEC in 2019 significantly simplified the issuance process, further propelling a wave of product innovation.
In recent years, active ETFs have experienced explosive growth globally and are becoming the core growth engine for the ETF market. Bloomberg data shows that as of March 31, 2026, the proportion of net inflows into active ETFs as a share of total global ETF net inflows jumped from 25% last year to 38% by the end of March this year. The U.S. ETF rule launched in 2019, which greatly simplified the issuance process, combined with increased feasibility for converting strategies into ETFs and investor demand for innovative strategies, has collectively driven the transformation of ETFs from passive tracking to active management. According to public reports, large institutions such as sovereign wealth funds, pension funds, and insurance companies are incorporating them into their core allocation tools.
Industry insiders note that ETFs have become a mainstream global investment tool due to three core advantages: First, high liquidity, allowing real-time buying and selling on trading days; second, high transparency, typically disclosing holdings daily; and third, relatively low costs, with overall operational expenses usually significantly lower than traditional mutual funds.
J.P. Morgan Asset Management points out that active ETFs are the product of combining active management strategies with the ETF vehicle, merging the efficiency of ETFs with the flexibility of active management, thus possessing dual core advantages. Active ETFs retain the benefits of ETFs such as trading convenience, real-time pricing, strong liquidity, transparent holdings, and low fees, while also possessing the flexibility of traditional active mutual funds in strategy execution. They can dynamically adjust investment portfolios based on market changes, actively manage risk control, capture investment opportunities, and pursue excess returns that outperform their benchmarks.
According to data from Morningstar, ETF.com, and Bloomberg, J.P. Morgan Asset Management ranked first in the industry for net inflows into global active ETFs in 2025, and its active ETF assets under management also ranked first globally. By the end of 2025, J.P. Morgan Asset Management had achieved the top position for global net inflows into active ETFs for two consecutive years, demonstrating global investors' high recognition of its active management capabilities.
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