The Globe and Mail reports in its Friday edition that actively managed exchange-traded funds took in larger inflows of money than passive index-tracking funds in many months of 2023, according to TD Securities. The Globe's Rob Carrick writes that what makes this trend notable is that active ETFs account for only 24 per cent of Canadian ETF assets, compared with 67 per cent for passive index-trackers and 17 per cent for high-interest ETFs used for savings or to park cash. The ETF industry was built on the idea of taking money away from high-fee, actively managed mutual funds by offering ultralow-cost funds tracking the world's stock and bond indexes. Investors in ETFs used to be against the idea of handing money to a bunch of Bay Street portfolio managers. Now, those same active managers are the ones powering growth in ETF assets. Of course, the industry would want to find new ways to entice investors, and from the investors' point of view, passive investing is boring and deprives them of the chance for index-beating returns. Most fund managers are unable to match the Toronto Stock Exchange benchmark, so it is certain that some investors buying active ETFs are going to be disappointed they did not just buy an index tracker.