Actively managed exchange-traded funds (ETFs) have not caught on as rapidly as asset managers would have liked, The Wall Street Journal reports. The 62 quantitative/actively managed ETFs on the market have amassed $2.67 billion, or an average of $43 million each. To reach profitability, it is generally assumed that a mutual fund must have $100 million of assets under management.

Nonetheless, asset managers are still churning out active ETFs. “We never expected ETFs would be the Holy Grail that some people referred to them as,” said Ed McRedmond, senior vice president of portfolio strategies at Invesco PowerShares. At Invesco PowerShares, the strategy on actively managed ETFs is a “slow educational” process, McRedmond said.

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