Goldman Sachs Accelerates Push into Active ETFs

Goldman Sachs is intensifying its focus on actively managed exchange-traded funds as it seeks to expand product offerings and capture growing investor demand for flexible, rule-light strategies. Through Goldman Sachs Asset Management (GSAM), the firm is broadening distribution and accelerating launches across equity and fixed-income sleeves, positioning active ETFs as a strategic growth area amid heightened market volatility and evolving client preferences.

The move reflects broader industry trends: active ETFs have gained traction among institutions and retail investors who want the intraday liquidity and tax advantages of ETFs combined with the potential alpha of active management. Goldman’s effort intends to leverage the firm’s research capabilities, trading infrastructure and distribution networks to differentiate its products from both passive index ETFs and competitors’ active funds.

While Goldman has long been a participant in the ETF market, the current push emphasizes scale and variety. Sources familiar with the strategy say GSAM is prioritizing convertible strategies, multi-asset solutions and fixed-income active ETFs that can respond quickly to rate and credit dynamics. The firm is also placing greater emphasis on fee competitiveness and transparent portfolios to address investor sensitivity to costs and governance.

Competition in the active ETF space is stiff. Large asset managers such as BlackRock, J.P. Morgan and Fidelity have expanded their own active ETF lineups, raising the bar on distribution and product innovation. Goldman plans to lean on its institutional relationships and wealth channels to accelerate adoption, while tailoring products for financial advisors, sovereign wealth clients and high-net-worth investors.

Regulatory clarity and the SEC’s evolving stance on ETF disclosures remain important considerations. Industry participants note that clear rules and robust disclosure practices help foster confidence among intermediaries and end investors, particularly for newer active strategies.

Goldman’s expansion into active ETFs underscores the sector’s maturation: it is no longer niche, but a mainstream tool for portfolio construction. For investors, the shift means more choice among actively managed wrappers that aim to blend dynamic management with ETF structural benefits. For Goldman, success will hinge on product performance, distribution effectiveness and the ability to manage costs while offering differentiated, value-added strategies.