Rocky markets have been a boon to active managers in exchange-traded funds, an industry long synonymous with the rise of passive investing. ETF managers who handpick stocks and bonds drew a record $27.5 billion in new investor cash last year, while inflows into index-tracking ETFs slowed for the first time since 2013, according to Morningstar. So-called strategic beta funds, a hybrid between active and passive management, likewise had a banner year, garnering $74 billion.

Source: Wall Street Journal February 08, 2019 12:00 UTC