ETF Innovators: Inside J.P. Morgan's next wave of AI revolution

Key points

The global ETF industry crossed US$1 trillion in flows by late-2025, with accelerated adoption and unprecedented growth in the world's fastest-expanding investment vehicle.
J.P. Morgan Asset Management dedicates US$500 million technology budget and over 1,500 specialists to build and maintain technology platforms with AI capabilities.
The firm's proprietary platform gives portfolio managers access to 40+ years of research data and analyst insights.

Global ETF flows surpassed US$1 trillion in October 2025^[1], as investors continue to shift money away from traditional mutual funds toward lower-cost, more liquid alternatives. This milestone reflects a fundamental shift in how investors access markets.

Travis Hughes, Head of Canada at J.P. Morgan Asset Management, leads the firm's charge to drive innovation across this expanding landscape. The firm has a large technology budget focused on innovation. This investment, combined with access to J.P. Morgan's broader US$17 billion technology ecosystem, enables the firm to leverage decades of analyst research and deliver actionable intelligence to portfolio managers.

The firm's active ETF offerings exemplify this evolution. J.P. Morgan Asset Management operates the largest active equity and active fixed-income ETFs in the U.S. These products combine the security selection and research-driven insights of active management with the liquidity and cost benefits of the ETF wrapper. "The active ETF marries the best of both worlds," Hughes says. For investors, this means access to sophisticated active strategies without the operational friction and higher costs of traditional mutual funds.

Looking ahead, one of the most transformative developments in the ETF industry is the introduction of private investments, including private equity, private credit, and real estate, into ETF structures. These vehicles promise to democratize access to asset classes historically reserved for institutional and high-net-worth investors. By pooling capital and leveraging ETF mechanics, issuers are exploring how to offer meaningful private asset exposure to retail investors while preserving the transparency and liquidity that define the ETF model.

About ETF Innovators

ETF Innovators is a short-form video series hosted by Valerie Grimba, Director, Global ETF Strategy, that spotlights how RBC clients are driving innovation in ETFs. The series tracks the evolution of the global ETF landscape and spotlights the leaders, ideas, and strategies powering the next wave of performance.

View video transcript

+ Footnotes

[1] Suzanne McGee, 'Flows into US ETFs cross $1 trillion at record pace, State Street Investment Management says,' Reuters, October 17, 2025, https://www.reuters.com/markets/wealth/flows-into-us-etfs-cross-1-trillion-record-pace-state-street-investment-2025-10-14/

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Experts

Valerie Grimba

Director, Global ETF Strategy, RBC Capital Markets

Travis Hughes

Head of Canada, J.P. Morgan Asset Management

ETF Innovators: Inside J.P. Morgan's next wave of AI revolution

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