Morningstar research shows that global fixed income ETFs amassed over $1.5 trillion in assets by the end of 2025, with net inflows exceeding $120 billion for the year. Analysts at Morningstar predict further innovation in product structure and trading liquidity to drive annual inflows closer to $150 billion in 2026. Key developments include the launch of ultra-short duration ETFs and actively managed credit strategies, which accounted for 40% of new assets in 2025. With bond yields expected to remain rangebound and central banks signaling gradual policy shifts, Morningstar expects investors to gravitate toward diversified fixed income ETFs offering both income enhancement and duration control.

Morningstar unveiled the PitchBook GenAI 20 Index, the first rules-based benchmark tracking pure-play generative AI companies from private markets through IPO. The index comprises 20 firms selected for leadership in machine learning, natural language processing, computer vision and agentic AI, with inclusion thresholds based on annual R&D spend exceeding $50 million and at least $10 million in private funding. By preserving continuity of exposure across lifecycle transitions, the index aims to address the absence of private innovators in traditional benchmarks. Morningstar estimates the total market cap of eligible GenAI names at $300 billion, underscoring significant growth potential as generative AI adoption accelerates across sectors.

Effective March 2, 2026, Morningstar will assume sole responsibility for PIMFA’s Private Investor and Equity Risk Index Series, rebranded respectively as the Morningstar PIMFA Investor Index Series and Morningstar PIMFA Equity Risk Index Series. These five-composite benchmarks—covering equities, fixed income, real estate, cash and alternatives across Conservative, Income, Balanced, Growth and Global Growth profiles—trace back to 1997 and 2019 launches. The UK wealth management industry uses these indices to measure performance against portfolios managing over £1.65 trillion in client assets. Morningstar will provide 10 years of historical data from inception, quarterly portfolio surveys for weight determination and ongoing governance in partnership with PIMFA’s Indices Committee.