They are normally for bonds only. Here are quotes from recent WSJ article:
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Eight of the 10 largest actively managed ETFs are bond funds, according to Morningstar.
"Most of the growth has been in the bond area," says Matthew Hougan, chief executive of ETF.com. He notes that Pimco, DoubleLine Capital LP and Blackstone Group's credit arm GSO Capital Partners have all jumped into the arena.
By contrast, many asset managers have shied away from offering active stock ETFs, because ETFs generally have to disclose their holdings each day; bond managers have been less worried than stock managers about other market participants taking advantage of such disclosure.
"There aren't many active equity managers -- in particular, blue-chip, high-performing active equity managers -- who want to be the player at the poker table forced to show their hand," says Ben Johnson, director of global ETF research at Morningstar.
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