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Wells Fargo outlined on Monday that actively managed long only funds have benefited in 2023 while not fully buying into artificial intelligence boom.
“Large-cap fundamental (LCF) PMs gained ground in the AI-fueled market, but small-cap and Quant PMs lost ground. AI-related underweights suggests long onlys have not ‘bought-in’ yet,” the financial institution’s equity strategy team said in a note to its clients.
See below a table provided by Wells Fargo that compares the actively managed fund groups and their year-to-date performance through the month of May:
Additionally, see outlined below Wall Street’s seven largest actively managed exchange traded funds along with their assets under management and year-to-date price action:
No. 7: Dimensional U.S. Targeted Value ETF (DFAT): $7.28B AUM and +1.7%.
No. 6: ARK Innovation ETF (NYSEARCA:ARKK): $7.70B AUM and +36.6%.
No. 5: First Trust Enhanced Short Maturity ETF (FTSM): $8.14B AUM and +0.1%.
No. 4: PIMCO Enhanced Short Maturity Active ETF (NYSEARCA:MINT): $8.70B AUM and +0.5%.
No. 3: Dimensional U.S. Core Equity 2 ETF (DFAC): $18.87B AUM and +7.9%.
No. 2: JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST): $24.61B AUM and -0.2%.
No. 1: JPMorgan Equity Premium Income ETF (NYSEARCA:JEPI): $26.14B AUM and -0.2%.
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