Exchange-traded funds (ETFs) continue to gain in popularity, but the divide between ETFs and mutual funds is becoming a little murky.
In recent years, for instance, several fund companies, including T. Rowe Price and Fidelity, have launched actively managed ETFs that are modeled after their best actively managed mutual funds. And in late 2025, the Securities and Exchange Commission (SEC) said dozens of asset managers could offer ETF share classes for existing mutual funds.
