Is Active Management a Thing in the ETF Space?

The reality of the market right now is active management is a thing in the ETF space while it is still a fairly small part of flows, call it between 10 and 20% in a given period. It's an enormous part of revenue because most of these funds charge more. You look at things like Andrew Beers DBMF, which is the really interesting hedge fund, pulled in a billion dollars this year. Yeah. Now they're lucky to get there but history will be able to pick those people out.