Seated before a packed conference hall at the recent Morningstar ETF conference, Stephen W. Clarke, president of Navigate Fund Solutions, extolled the virtues of Eaton Vance's actively managed, non-transparent ETFs, which the SEC approved last December.

Now branded as NextShares, Clarke talked up its confidential trading ability until an audience member bluntly asked what many advisors have wondered: "It's been a year since approval, but it not in the market yet. What's the hold up?"

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.