NextShares are the first actively managed non-transparent products with a structure somewhat similar to ETFs that the SEC has approved. In October, the SEC rejected applications by Precidian ETFs Trust and Spruce ETF Trust, a unit of BlackRock (NYSE: BLK), to offer active non-transparent ETFs.
ETMFs are a new concept that looks to marry the liquidity and tax efficiencies that have attracted investors to ETFs with active investment strategies, while maintaining the confidentiality of current portfolio trading information.
Eaton Vance had $296 billion in assets under management at the end of 2014.
ETF Trends editorial team contributed to this post.