Europe’s active ETF assets hit €108.3bn by the end of June, almost three times the level recorded at the end of 2023, according to data provider Morningstar.
Active ETFs attracted €18.8bn of net inflows during the first six months of the year, accounting for 8.8% of all ETF inflows in Europe. This marked an increase from a 7.6% share in 2025 and 7.3% in 2024.
However, active ETFs still represent only 3.4% of total European ETF assets, whereas the share is roughly 12.5% share seen in the US market.
Equity strategies remained the largest segment by both assets and inflows. However, active bond ETFs accounted for 27% of active ETF inflows in the first half of 2026, up from 10% in 2024.
J.P. Morgan ranked first with a 42.1% share of the European active ETF market, while other asset managers such as Fidelity, iShares and Invesco continued to expand their presence.
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In total, 75 new active ETFs came to market, taking the size of the European active ETF universe to 332 funds, compared with 68 at the end of 2023.
Jose Garcia-Zarate, senior principal, manager research at Morningstar, said: “What stands out is that growth is no longer being driven solely by equities. Active fixed-income ETFs are attracting increasing investor interest, reflecting the view among many asset managers that bond markets are especially well suited to active management.
Established active managers that previously avoided the ETF wrapper are now embracing it, attracted by its distribution advantages and investor reach. As the market matures, we’re also seeing greater diversity in investment approaches. Our new discretionary versus systematic framework shows that while discretionary strategies remain dominant, systematic equity strategies are growing, reflecting a market that is becoming broader and more sophisticated.”
