Data Update: Year-end 2025
Published: Spring 2026

This report describes the competitive landscape for passively and actively managed retail funds from 2016 to 2025 in Canada, in the United States, and worldwide.

Section 1 describes the methodology used in this study.
Section 2 describes the Canadian retail fund market. We look at the dollar amounts, market shares, and flows of funds for passive and active funds. We also look at the types of passive funds offered on the Canadian market, classifying them into four categories: market-cap weighted, factor, sector, and others. Finally, we examine Canada’s MERs for passive and active funds.
Sections 3, 4, and 5 present the dollar amounts, market shares, and flows of funds for passive and active retail funds in the US, the world excluding North America, and the world overall.