At a glance
- The latest group: CION Investments and GCM Grosvenor launched an infrastructure fund; Simplify launched a China A-shares ETF built on options positions; Infrastructure Capital Advisors launched a high-yield fixed income ETF; BlackRock introduced new ETFs, including converting its High Yield Municipal Fund into an ETF; and Pacific Asset Management launched an emerging markets ETF.
- Cerulli, cited in the roundup, ties ETF popularity to the proliferation of model portfolios.
- For an advisor, the first question is the vehicle.
ETF launches are arriving weekly, according to Wealth Solutions Report's investments roundup. The latest group: CION Investments and GCM Grosvenor launched an infrastructure fund; Simplify launched a China A-shares ETF built on options positions; Infrastructure Capital Advisors launched a high-yield fixed income ETF; BlackRock introduced new ETFs, including converting its High Yield Municipal Fund into an ETF; and Pacific Asset Management launched an emerging markets ETF. The list spans equities, fixed income and infrastructure. Each carries its own fee and liquidity terms.
Cerulli, cited in the roundup, ties ETF popularity to the proliferation of model portfolios. ETFs often undercut mutual funds on fees, transparency and liquidity, and CFRA predicts effects from Vanguard's latest fee cuts. HFR reports hedge funds opened 2025 in positive territory. FUSE projects broker-dealers and RIAs will hold $3 trillion in alternatives by 2029. Advisors now have to weigh the fee and liquidity differences across a widening set of wrappers.
The wrapper is the due-diligence test
For an advisor, the first question is the vehicle. Options strategies embed costs that are not visible in the ticker price. Simplify's China A-shares product uses options to reach domestic Chinese equities, a market the mass affluent have found hard to enter. The roundup frames this as democratization: strategies once reserved for high-net-worth clients now sit in retail wrappers, and the fee layers inside them are harder to read. The challenge is parsing the fee schedule, not the marketing materials. The CAIA Association is expanding continuing education, with Aaron Filbeck as managing director of global content strategy and a UniFi platform carrying certificates and microcredentials on alternatives.
BlackRock's mutual-fund conversion is clear evidence of the shift. The conversion route is part of a broader wave in which ETFs are winning over mutual funds. The advisor who can price the wrapper, not just buy the ticker, will keep ahead. The fee disclosure will decide which launches survive.
Reported by the Products & portfolios desk from Wealth Solutions Report. Published . Corrections