The flagship Baron First Principles ETF (RONB)has garnered attention for holding a position in privately held SpaceX. Camuso explained that Baron has owned SpaceX shares since 2017 and deemed the position "less liquid†rather than "illiquid†based on the firm's unique relationship with the company. "We got comfortable that we could sell that reasonable size within a seven day settlement period,†Camuso said. He emphasized that SpaceX inclusion wasn't a publicity stunt, but part of Baron's fundamental researc ...

Core Viewpoint - Harbor Capital is an asset manager that focuses on a carefully selected range of active ETFs aimed at generating attractive, risk-adjusted returns within investment portfolios [1] Group 1 - The company emphasizes the importance of curating a select suite of active ETFs [1] - Harbor Capital believes that their chosen ETFs have the potential to deliver compelling returns [1] - The management of the account is not conducted by Harbor Capital, and communications through Seeking Alpha will not be addressed [1]

Core Viewpoint - Harbor Capital is an asset manager that focuses on a carefully selected range of active ETFs aimed at generating attractive, risk-adjusted returns within investment portfolios [1] Company Overview - Harbor Capital specializes in curating a select suite of active ETFs [1] - The firm believes these ETFs have the potential to deliver compelling returns [1] Communication Note - The account mentioned is not managed or monitored by Harbor Capital, and inquiries should be directed through official channels [1]

Core Insights - The VIX has increased by 62.4% year-to-date, indicating significant market volatility driven by geopolitical tensions and conflicts [1] - Active ETFs are positioned to adapt to market volatility, providing resilience and potential upside compared to passive market indexes [1] Active ETFs Performance - The T. Rowe Price Natural Resources ETF (TURF) has returned 21.9% over the last three months, charging a fee of 44 basis points and focusing on fundamental research to identify outperforming companies [1] - The T. Rowe Price International Equity ETF (TOUS) has achieved a 23% return over the last 12 months, with a fee of 50 basis points, utilizing local market inputs and macro data to select high-potential stocks [1]

Core Viewpoint - MFS Investment Management has launched a new actively managed emerging markets ETF in response to high U.S. stock valuations and a shift in investor interest towards international markets [1][5]. Group 1: ETF Launch Details - The newly launched ETF is named MFS Blended Research Emerging Markets Equity ETF (NYSE:BREE) and is designed to outperform the MSCI Emerging Markets Index through a combination of quantitative screening and fundamental research [2]. - This ETF is a sister fund to the MFS Blended Research International Equity ETF (NYSE:BRIE), which focuses on developed markets [2]. Group 2: Investment Strategy - The fund aims to invest at least 80% of its assets in equities linked to emerging markets across various regions, including Asia, Latin America, Africa, the Middle East, and Eastern Europe [4]. - Unlike passive funds, the ETF managers have the flexibility to adjust sector exposure, market-cap allocations, and risk levels in portfolio construction [4]. Group 3: Market Context - The launch of the ETF coincides with a trend where global investors are reassessing their exposure to the U.S. stock market due to concerns over high valuations of major technology companies and the trend of "de-dollarization" [5]. - Over the past 12 months, the MSCI Emerging Markets Index has outperformed both the S&P 500 and the MSCI World Index, indicating a potential rebound in emerging markets [5]. Group 4: Active ETF Market Growth - Active ETFs are one of the fastest-growing segments in the market as asset managers leverage this structure to implement strategies aimed at outperforming the market [6].

Core Insights - The ETF market saw over 50 new launches in February 2026, highlighting the adaptability and innovation potential of the ETF wrapper [1] Group 1: New ETF Launches - The VanEck Communication Services TruSector ETF (TRUC) was launched with a fee of 14 basis points, focusing on communications services firms and emphasizing leadership in its investment strategy [1] - The ALPS Nautilus SMR, Nuclear & Technology ETF (SMRF) was introduced with a 65-bps fee, targeting the nuclear tech space and combining it with AI equities and income strategies [1] - The NEOS Boosted Nasdaq-100 High Income ETF (XQQI) charges a 98-bps fee and aims to provide high income through stock dividends and call option premiums, while also limiting upside potential in the Nasdaq-100 equities [1] Group 2: Investment Strategies - TRUC's strategy focuses on established market leaders in communications, aiming for outperformance amid market volatility [1] - SMRF employs covered and naked call and put strategies to generate income while also seeking capital appreciation, potentially benefiting from energy demand linked to AI [1] - XQQI utilizes both synthetic and traditional covered call strategies to achieve monthly distributions, positioning itself competitively in the income ETF segment [1]

Group 1 - The article discusses various actively managed ETFs, highlighting their unique features and management teams [1][2][3][4] - Troll Price Capital Appreciation Equity (TCAF) is noted for its flexible investment strategy and strong stock picking by David Jaru, charging a low fee of 31 basis points [1] - Harvard International Compounders (OSA) is a $500 million fund focused on 30 foreign growth stocks with significant compounding potential, emphasizing a strict sell discipline [2] - Capital Group Municipal Income (CGMU) is recognized for its low fee of 27 basis points and a strong management team, making it a well-run municipal bond fund [3] - The fund launched in 2022 has shown outstanding returns due to strong security selection and risk management, guided by three experienced managers [4]

Core Insights - Recent years have seen significant growth in actively managed ETFs, which have become a major contributor to the overall increase in ETF launches [1] Industry Summary - The proliferation of actively managed ETFs indicates a shift in investor preferences towards more actively managed investment strategies within the ETF market [1]

Core Insights - International equities have seen record inflows, with over $220 billion in net inflows in 2025 and approximately $75 billion year-to-date in 2026 [1] Group 1: International Equity Flows - The iShares Core MSCI Emerging Markets ETF (IEMG) ranks second in inflows with about $10 billion year-to-date [1] - The Vanguard Total International Stock ETF (VXUS) attracted roughly $9 billion, while the Vanguard FTSE Developed Markets ETF (VEA) saw about $3 billion in inflows [1] - Performance has been a key driver, with IEMG up 48% and the iShares MSCI EAFE ETF (EFA) gaining 44% since the beginning of 2025, significantly outpacing the S&P 500's 18% gain [1] - A weaker U.S. dollar, down approximately 10% since early 2025, and attractive valuations are contributing factors, as international equities trade at about 18 times forward earnings compared to 22 times in the U.S. [1] Group 2: Active ETF Trends - Active ETFs represent only 11% of total industry assets at $1.5 trillion but captured 36% of all flows in 2025 [1] - Financial advisors are driving the adoption of active ETFs, with 47% of their ETF flows directed towards active strategies [1] - Of the over 1,000 ETFs launched in 2025, 889 were active strategies, with advisors favoring those with expense ratios between 20 and 40 basis points, which captured 46% of flows [1] - Only 14% of advisor flows went to ETFs costing 60-plus basis points, compared to 20% in the broader retail market, indicating a greater fee-consciousness among advisors [1] - Small caps and options-based income strategies are identified as growth categories for 2026, with the Russell 2000 projected to have an earnings growth estimate of 41% [1]

Core Insights - Fidelity's ETF market data for 2025 indicates a significant shift towards active ETFs, with approximately 36% of overall fund flows directed towards active strategies, and over 46% in the intermediary space [1] - The market has seen a broadening effect benefiting large value, international developed, and small- and mid-cap stocks despite volatility [1] - In fixed income, there is a notable movement towards ultra-short strategies, while advisors are leaning towards core passive and core-plus active funds [1] ETF Flow Trends - Active ETFs are gaining traction, particularly among advisors, with a noted increase in flows towards active strategies in small-cap segments, which saw a positive flow of $17 billion [1] - Passive strategies continue to dominate in low-cost, tax-efficient large-cap core beta, but there is a surprising shift towards active in foreign considerable growth [1] ETF Fees and Flows - A survey indicated that 43% of overall ETF flows are directed towards funds charging fees between 20 to 40 basis points, with 46% of advisor-driven flows also in this range [1] - ETFs charging 61 basis points or more received the second-largest share of flows, although this segment saw the lowest percentage of advisor-driven flows, indicating a reluctance towards higher fees [1] ETF Options - Fidelity offers a diverse range of ETFs, including both active and passive strategies, such as the Fidelity Enhanced International ETF (FENI) and the Fidelity Yield Enhanced Equity ETF (FYEE) [1]