At Geneva Wealth Day, Max Dawe explores how a more selective approach to U.S. equities and the rise of active ETFs are shaping portfolio construction.
U.S. equities remain central to many portfolios. But as market concentration increases, investors face a more specific question: how should they access that exposure?
At Geneva Wealth Day, held on September 17, 2026, at Westhive in Geneva, Max Dawe, Director, ETF Strategist at Fidelity International, highlighted the importance of looking beyond the market-capitalisation-weighted strategies that have served investors well over the past decade.
In his view, strong corporate fundamentals continue to support the appeal of the U.S. market. A more selective approach, through active management or opportunities further down the market-capitalisation spectrum, can offer a different way to navigate it.
This is also where active ETFs enter the discussion. Their growing appeal reflects the range of strategies available within the ETF structure, including systematic approaches and strategies designed around specific investment outcomes.
For wealth managers, their potential role is closely tied to practical portfolio decisions: where to take active risk, how to allocate management costs, and which exposures require greater discretion.
In the interview below, Dawe discusses how active ETFs can complement traditional investment solutions and help investors make those choices.
