ETF Share-Class Relief Could Accelerate Mutual Fund-To-ETF Conversions - Dimensional U.S. Core Equity 2 E

The SEC's approval of ETF share-class structures arrives as the mutual-fund-to-ETF migration is already gaining traction.

According to Morningstar data cited by VettaFi, the industry has now surpassed 200 mutual-fund-to-ETF conversions, with a record 60 conversions completed in 2025 alone across 31 firms.

Converted assets have climbed above $260 billion, highlighting how rapidly asset managers are embracing the ETF wrapper.

The ETF share-class relief could allow asset managers to keep existing portfolios intact while offering investors an ETF option alongside traditional mutual fund shares.

The Conversion Wave Is Already Producing Winners The most successful example remains Dimensional Fund Advisors.