Among the ETFs issued this year, nearly three-quarters are actively managed funds. This reflects a clear trend—investors are shifting from passive tracking funds to more flexible active strategies.

Franklin Templeton's investment strategist Lotfi Ladjemi pointed out that there is another significant change behind this: the age structure of investors is clearly shifting downward.

What's going on? The core reason is the explosion of mobile trading apps. Platforms like Trading 212 and eToro have lowered the barriers to entry, making it easier for young users to enter the investment market. These apps' user-friendly interfaces, zero-commission models, and social trading experiences have completely changed retail investors' habits.

The result is: more and more young investors want more choices rather than rigidly tracking a specific index. They seek genuine active management, professional judgment from fund managers, to seize opportunities in a rapidly changing market. This shift in demand is reshaping the entire ETF industry landscape.