2026 ETF.com Award Nominees: Active ETF

The Nominees

ALLW - SPDR Bridgewater All Weather ETF

Launched: March 2025 | ER: 0.85% | AUM: $678M | Issuer: State Street / Bridgewater

Ray Dalio’s All Weather strategy in ETF form for the first time ever. ALLW offers risk parity across four economic regimes: rising growth, falling growth, rising inflation, falling inflation. Currently holds approximately 79% bonds, 43% equities, 38% TIPS, and 37% commodities (using leverage to achieve balanced risk contribution).

Investment Strategy: ALLW utilizes Bridgewaters All Weather strategy, diversifying across asset classes to manage risk and optimize returns in varying market conditions. The fund aims for long-term capital growth.

• Merit: Very High - Bridgewater’s flagship strategy democratized
• Position: First-mover with no possible competition
• Utility: Excellent - “Ray Dalio’s portfolio” needs no explanation
• Power: Very High - All Weather has a 30-year track record

Why it’s nominated: Bridgewater is the world’s largest hedge fund. All Weather is Dalio’s answer to “what portfolio works in any environment?” Now anyone with a brokerage account can access it. The $678M in AUM proves investors have been waiting for exactly this product. This is active management royalty in ETF form.

CAIE - Calamos Autocallable Income ETF

Launched: June 2025 | ER: 0.74% | AUM: $508M | Issuer: Calamos

The first ETF delivering autocallable income strategy. Holds 52+ autocallables laddered weekly, targeting elevated income with downside barriers. CAIE delivered a 17.48% inaugural distribution and trades swaps on the MerQube autocallable index.

Investment Strategy: CAIE is actively managed, using total return swaps based on a US Large-Cap laddered portfolio of autocallable yield notes. The fund aims to provide a high monthly income, but not guaranteed, along with some downside cushion.

• Merit: Very High - Democratizes the hottest structured product
• Position: First-mover, category creator
• Utility: Excellent - “17% income with 40% barrier” is compelling
• Power: Very High - Autocallables are the fastest-growing structured product segment

Why it’s nominated: Autocallables have been the hottest product in structured notes for years, but only available to high-net-worth investors through private placements. CAIE brings that strategy to the ETF wrapper at scale. The SRP Americas innovation award validates that the industry sees this as genuinely new.

ORR - Militia Long/Short Equity ETF

Launched: January 2025 | ER: 14.19% | AUM: $183M | Issuer: Militia Investments

A true long/short global equity hedge fund strategy in ETF form. ORR targets 50% net long exposure with 155 holdings, 88% international, and high turnover. This is genuine hedge fund replication—not a watered-down version.

Investment Strategy: ORR is an actively managed, high turnover, long/short global equity fund. The long side aims to establish positions in companies in Developed Markets outside of the US with strong expected future cash flows. The fund shorts US companies with declining cash flows.

• Merit: High - Genuine hedge fund strategy in ETF wrapper
• Position: Growing category for alternative strategies
• Utility: Moderate - Expensive and complex, but real alpha potential
• Power: Moderate - Hedge fund in ETF remains niche but growing

Why it’s nominated: Yes, the 14.19% expense ratio is eye-popping. But that’s what hedge funds actually cost—2 and 20 on leveraged capital adds up. ORR doesn’t pretend to be cheap; it delivers actual hedge fund exposure with daily liquidity and no lockups. For investors who want alternatives, this is the real thing.

JFLX - JPMorgan Flexible Debt ETF

Launched: September 2025 | ER: 0.45% | AUM: $1.2B | Issuer: JPMorgan

JPMorgan’s flexible approach to the credit spectrum, with latitude to move across investment-grade, high-yield, and loans based on market conditions. The fund brings ctive duration and credit management from one of the world’s largest fixed income teams.

Investment Strategy: JFLX actively manages a global portfolio of debt securities across different sectors and maturities.

• Merit: High - JPMorgan fixed income expertise, flexible mandate
• Position: Strong franchise execution
• Utility: Good - “JPMorgan’s best fixed income ideas” is easy pitch
• Power: High - Flexible mandates suit uncertain rate environment

Why it’s nominated: The flows tell the story—nearly $1B in a single year. JPMorgan’s fixed income team manages trillions, and JFLX gives that expertise a flexible mandate to navigate shifting rate and credit conditions. This is institutional-quality active management at scale.

CGMM - Capital Group U.S. Small and Mid Cap ETF

Launched: January 2025 | ER: 0.51% | AUM: $1.1B | Issuer: Capital Group

Capital Group’s first-ever domestic SMID strategy, created specifically as an ETF rather than a mutual fund conversion. Multi-manager approach with experienced team, Capital Group now has over $100B in ETF AUM and is the 3rd largest active ETF issuer.

Investment Strategy: CGMM is actively managed, investing primarily in equity-type securities of small and mid-cap companies in the US. The fund aims for capital growth.

• Merit: High - Capital Group’s institutional rigor in ETF wrapper
• Position: Strong - First-mover in their own SMID lineup
• Utility: Excellent - “Capital Group for small/mid caps” is instant credibility
• Power: High - Capital Group’s research depth has staying power

Why it’s nominated: Capital Group built their reputation on long-term fundamental research and multi-manager approaches. CGMM brings that to the SMID space—an area where active management arguably adds the most value due to less analyst coverage. The $1.1B in AUM validates the demand.

For more information about the ETF.com awards process, click here.

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