Increasing interest in active management has been a persistent trend in 2025. Still, the current momentum should continue to drive demand in 2026. Goldman Sachs and MFS Investment Management are two of the ETF providers leading the proverbial charge. Their active ETFs cater to various asset classes as well as investment styles.
Jamie Harrison, Head of ETF Capital Markets at MFS and Marissa Ansell, Goldman Sachs Head of ETF Investment Strategy joined VettaFi Industry Analyst Cinthia Murphy to discuss the ongoing interest in active management during a 2026 Market Outlook Symposium. Various asset classes their own unique set of systematic as well as idiosyncratic risks. Therefore, the panelists discussed why active management is paramount in an investor’s portfolio.
Demand Drivers and Myth Debunkers
Actively managed ETFs give portfolio managers autonomy to adjust the holdings of a fund to suit current market conditions. Active ETFs are flexible, which makes them ideal all-weather solutions that can fit in any market. As Harrison and Ansell both noted, active management is inherent in the DNA of both their firms. Still, what exactly drives greater investor adoption in the current environment?
Both noted that investors are seeking the benefits of active management, but with the structural advantages derived from an ETF. Investors appreciate the flexibility that active ETFs offer in a market that still has a high degree of uncertainty given macro factors like geopolitical tensions, tariffs, and a changing interest rate policy.
On the opposite end of the spectrum, there are reasons investors have for not using active strategies. However, Ansell debunked the primary reasons against active strategies — cost and risk.
“Cost is a common misconception,” said Ansell, noting that Goldman Sachs has been working to bring costs down to make active ETFs more accessible. In fact, the entire ETF marketplace has been reducing fees on active funds. This makes them more competitive relative to their passive peers in certain instances.
“Active management helps you mitigate a lot of risk,” said Ansell. She confirmed that active ETFs allow portfolio managers to handpick individual holdings, which means they can choose to avoid those that are underperforming. This gives active ETFs a built-in risk management component.
Investor education is key to understanding the breadth of active products available in the ETF marketplace. Whether it’s self-researched or obtained from an investment professional, investors seek to learn more about active ETFs and thus, seeking them out.
“There’s a better sense of the benefits of these products,” confirmed Harrison.
MFS's Roster of Active ETFs
The audience was asked which asset classes investors are currently using to access active ETFs—unsurprisingly, core equities was the top selection, but use cases were spread across fixed income, structured outcomes/derivative income, niche/thematic opportunities, and alternatives/tactical positions. That said, both MFS and Goldman Sachs boast active ETF rosters that cater to various asset classes investors can use for their own portfolios.
From fixed income to equities (domestic and international), MFS has a roster of active ETFs that build off their over 100-year heritage. Recently added to the roster are the MFS Blended Research Core Equity ETF (BRCE) and the MFS Blended Research International Equity ETF (BRIE). Whether it’s domestic (BRCE) or international markets (BRIE), both funds actively identify potential investments using an active, disciplined, bottom-up approach that melds the depth of fundamental research with the breadth of quantitative analysis.
“We think all of these are uniquely positioned to add value,” said Harrison of the entire MFS active ETF suite.
Goldman Sachs' Roster
Like MFS, Goldman Sachs has their own roster of active ETFs for various uses. One noteworthy fund mentioned in the symposium was the Goldman Sachs Small Cap Core ETF (GSC ). Though large cap growth marked much of the alpha-generating performance this year, small caps could be poised for upside in 2026 as the rate-cutting cycle is currently underway.
“Small caps have been playing a waiting game,” said Ansell, noting that the small cap equity universe is one where “valuations are attractive.”
On the fixed income spectrum, Ansell noted demand for ultra-short exposure via the Goldman Sachs Ultra Short Bond ETF (GSST ) to lock in yields at the current rates before more cuts occur. Also, tighter credit spreads are moving the needle for corporate bonds via the Goldman Sachs Corporate Bond ETF (GIGL ). Another area that’s been drawing more investor enthusiasm is private credit. Given this, the Goldman Sachs MSCI World Private Equity Return Tracker ETF (GTPE) meets this need.
“We’ve created a benchmark and whole new category to deliver private-equity like returns via public equities,” Ansell said of GTPE.
To re-watch the symposium in its entirety, click here.
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