##  [# ETF Share Class: The Key to Unlocking Retirement Assets?](/sections/conferences/etf-share-class-key-unlocking-retirement-assets) 

 

# ETF Share Class: The Key to Unlocking Retirement Assets?

 

 

The ETF share class takeoff remains sluggish, but once it gains traction, it could become the key to unlocking trillions in trapped assets for investors. AllianceBernstein’s Julie Gunts shares the latest thinking on the subject, where AB fits into the mix currently, and how the firm thinks about and approaches innovation in this conversation from the 2026 ICI ETF Conference.



 

 

 

 

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[By ETF.com Staff](/contributors/etfcom-staff)

 Jul 17, 2026

 Edited by: ETF.com Staff

 

 

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AllianceBernstein may be an $800+ billion giant, but in the ETF world it's still a relative newcomer. Four years into the ETF business, the firm has grown to 23 U.S. ETFs and over $19 billion in AUM, according to Julie Gunts, Senior VP and Global Head of ETF Strategy &amp; Partnerships at AllianceBernstein. She sat down with ETF.com’s Dave Nadig at the 2026 ICI ETF Conference to talk about the AB’s growth, the firm’s progress on mutual fund conversions, thoughts on the ETF share class, and more.

The strategy that underpins the firm is a simple one: take AB's research-driven active capabilities and repackage them for the ETF wrapper, whether as a liquidity sleeve for its muni SMA business or as building blocks for model portfolios. Their buffer ETF suite is a good example. It’s a product born from a client conversation, built on options expertise historically reserved for institutional and insurance clients, and now democratized for everyday investors.

Share classes and conversions are the quieter revolution happening behind the scenes. AB has already converted seven mutual funds into ETFs, unlocking fresh platform placement for strong performers that were otherwise buried as, say, the 40th high-yield fund on a shelf. But it's not one-size-fits-all. Funds with heavy retirement assets or entrenched mutual fund models get left alone for now, since the potential asset bleed isn't worth it. Once the industry's plumbing catches up to automate ETF share classes, Gunts expects it to unlock a lot more flexibility, especially for taxable investors sitting on embedded capital gains who want in without the tax hit.

Tax awareness is also reshaping how AB's portfolio managers think, especially on the equity side, where "just deliver performance" used to be gospel. The ETF structure itself helps by insulating funds from forced capital gains during heavy outflows, but Gunts is clear it's not a cure-all. After all, bond funds still have to distribute income, period. Through it all, Gunts frames AB's approach as disciplined rather than trendy, with no chasing IPOs or space stocks, just steady, research-driven risk management aimed at compounding incremental alpha over time. Her closing take on AI's threat to advisors was reassuring: human judgment, she says, still has a role to play.



 

 

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 Related Topics  [Equity](http://www.etf.com/topics/equity) 

 [Active Management](http://www.etf.com/topics/active-management) 

 [Fixed Income](http://www.etf.com/topics/fixed-income) 

 [Alliance Bernstein](http://www.etf.com/topics/alliancebernstein)