Despite common perception that active beats passive during times of volatility, only 25% of large value, blend and growth mutual funds outperformed their category index during the first quarter of 2023.
The Xtrackers MSCI USA Climate Action Equity ETF (USCA), which debuted Tuesday with $2 billion in assets, surpassed the $1.35 billion launch of the Goldman Sachs MarketBeta US 1000 Equity ETF (GUSA).
“It’s a perfect time, because with all this negative sentiment, you’re seeing a lot of unique opportunities,” DoubleLine portfolio manager Morris Chen said in a phone interview. “By no means are we ignoring it, but there’s a lot of devil in the details as to what’s going on with specific properties. As an active manager, we’re able to pick and choose where we want, do what we like, what we don’t like.”
Cryptocurrencies have staged a comeback from last year’s doldrums, with Bitcoin almost doubling to break above $30,000 this week from around $16,600 at the start of 2023.
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