The cuts among 47 mutual funds and three ETFs span equity and fixed-income funds and will take effect on Feb. 22.

The $1.4 trillion asset manager expects to complete the process of flipping two mutual funds with roughly $250 million of assets into ETFs by the third or fourth quarter of next year.

“When the Fed decides to hike, it’s not necessarily going to be bad for gold."

In changing BTAL from a passive to an active fund, AGF is seeking control over the beta-momentum correlation.

“Fixed-income is really the only game in town if you want to harvest losses at this point in the year.”

Unlike sector-focused ETFs, thematic ETFs can provide a more targeted approach to long-term investment trends such as blockchain, electric vehicles and infrastructure development.

If launched, the Neuberger Berman Carbon Transition Infrastructure ETF, the Neuberger Berman Disrupters ETF and the Neuberger Berman Next Generation Connected Consumer ETF would be the firm’s debut products.

BlackRock will shift 40% of its holdings to Citigroup Inc., 30% to JPMorgan Chase & Co. and 15% to Bank of New York Mellon Corp.