Canada’s active ETF market triples in four years as systematic funds gain ground
Canada saw a record 208 active ETF launches in 2025, followed by another 124 in the first five months of 2026 alone. Active launches have outpaced passive ones every year since 2018, a run that pushed active funds ahead of passive funds by total count back in 2023. As of May, the market counted 975 active ETFs against 640 passive ones, a roughly 50% gap.
BMO’s lead narrows
BMO remains the largest active ETF provider by assets, holding a 14.4% share and 77 funds, but that position has eroded considerably, down from 32% in 2020.
Meanwhile Fidelity, BlackRock and Vanguard have lifted their combined share to 33% from just 13% over the same stretch, largely on the back of demand for their asset-allocation lineups. Other firms have instead built out specialized corners of the market, with Hamilton Capital and Harvest establishing themselves as the leading names in derivative income products.
Much of the recent launch activity has come from derivative income ETFs, which sell covered calls to generate yield, along with single-stock ETFs built on derivatives or leverage.
Ninety-nine of these products launched in 2025, with another 32 arriving in the first five months of 2026. The single-stock segment specifically has been dominated by four issuers: LongPoint has been behind every single-stock leveraged launch, while Harvest, Ninepoint and Purpose have issued all of the single-stock derivative income funds.
