Mutual Fund Launches Hit a Four-Decade Low as ETFs Surge
In 2025, just 95 new mutual funds launched in the United States, a 52% decline from the prior year and the lowest figure since 1983, according to Morningstar Direct data. In that same period, more than 1,100 new ETFs came to market, shattering the previous annual record. At this point, calling it a trend undersells what is happening.