Six months ago, not a single mutual fund in America had ever converted into an ETF -- a complex and expensive process.
After billions in industry outflows while the world of passive booms, at least five such transformations have been executed or announced this month alone.
Motley Fool Asset Management on Tuesday became the latest to say it will switch existing products. Two mutual funds with around $1 billion in assets will transition before year-end, the firm said in a release.
It comes just days after Foothill Capital Management converted its tiny cannabis fund to an ETF. Quant giant ...