Baron Financials ETF (BCFN)
NASDAQ (NMS) NASDAQ (NMS) Primary 
The Great Wrapper Migration: Mutual Fund-to-ETF Conversions Cross 200
A tidal wave of conversions has siphoned an unprecedented amount of capital out of mutual funds and into the ETF wrapper. Last year's record 60 mutual-fund-to-ETF conversions in 2025 across 31 firms pushed total converted assets past $260 billion, and the past five years have now seen a grand total of 203 conversions.
Navigate the New Financial Landscape With BCFN
Sector-specific changes in global finance are leading to a new era of digital innovation that's replacing traditional banking. For investors looking to capitalize on this next wave of growth opportunities in financials, Baron Financials ETF (BCFN) — managed by portfolio manager Josh Saltman — offers a high-conviction, active approach to investing in the sector.
Here's An Active Approach For Today's Financial Landscape
For investors seeking opportunities in the finance sector, an active approach can be beneficial. Today's financial landscape is undergoing structural, regulatory, and macroeconomic shifts.
More Active Demand in 2026 Paves Pathway for These ETFs
Active exchange-traded funds (ETFs) came to the forefront in 2025 with the launch of a record number of funds catering to active strategies. 2026 could bring another year for heavy active ETF demand from investors.
Baron Financials ETF Q4 2025 Quarterly Letter
Baron FinTech Fund declined during the fourth quarter, and underperformed its benchmark, the MSCI USA Financials Index. Top contributors were Fair Isaac Corporation, S&P Global Inc., and Jack Henry & Associates, Inc. Top detractors were Robinhood Markets Inc., MercadoLibre Inc., and Guidewire Software, Inc.
