Majority of Advisers Plan to Increase Active ETF Use Within Two Years, MSCI Survey Shows

MSCI’s latest ETF Intelligence Survey 2026 reveals a strong shift toward active exchange‑traded funds (ETFs) among financial advisers. The survey, which included 450 advisers from the United States and Europe, shows that 71% plan to increase their use of active ETFs within the next two years.

Current Adoption and Future Plans

According to the survey, 87% of respondents already hold active ETFs in client portfolios, and 62% intend to raise the proportion of active ETFs relative to passive allocations.

Substitution of Mutual Funds

More than half of the advisers (58%) indicated that a new active ETF from a manager they already use would most likely replace an existing mutual fund or UCITS holding. Half of the respondents said they would switch to an active ETF version of a strategy they already hold, and 85% of fund selectors are open to an ETF share class for the same strategy.

Regulatory Landscape

Regulatory clearance earlier this year, including a March decision by the U.S. SEC allowing broker‑dealers to trade ETF shares of multi‑class funds, enables asset managers to offer both mutual fund and ETF share classes within a single portfolio.

Private‑Market Exposure via ETFs

While 49% of advisers would consider accessing private or less liquid assets through an ETF, only 16% view private markets as a good fit for the ETF wrapper. Concerns cited include liquidity mismatches (62%), valuation transparency (50%) and limited track record (44%).

Fee and Liquidity Priorities

Advisers are willing to pay higher fees for difficult‑to‑access strategies (58% would pay a premium) but remain price‑sensitive for core beta strategies (only 12% would pay extra). Liquidity and trading efficiency rank among the top priorities for 68% of respondents.

Geographic Allocation Outlook

Looking ahead, 45% of advisers expect to broaden equity allocations, with 39% favoring emerging‑market exposure and 24% preferring developed‑market exposure.

Industry Perspective

Jana Haines, global head of index at MSCI, noted that while passive ETFs remain the core of adviser portfolios, active ETFs are becoming mainstream and advisers are focusing on where the structure adds the most value.