Concerned about an AI bubble? Sign up for The Daily Upside for smart and actionable market news, built for investors. It’s spring in the northern hemisphere, which means the birds are singing, the bees are buzzing and the first ETF share class of an active mutual fund has emerged from its cocoon. Dimensional Fund Advisors has become the first company to bring an ETF share class to market under new exemptions granted by the Securities and Exchange Commission, giving the treatment to its first mutual fund, ...

This was the year that dual share classes finally got their wings. The biggest development in years for the open-end fund world is the advent of dual share classes, meaning funds can create ETF shares of mutual funds and vice versa. The concept is far from new: Vanguard until 2023 had a patent on ETF shares of mutual funds, and it launched its first more than 20 years ago. More than 80 asset managers filed this year with the Securities and Exchange Commission for exemptive relief from requirements under t ...