Having built up a range of passive ETFs with assets under management exceeding €19 billion in less than a year, Eurizon Capital SGR is turning a new page.
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Article created by the editorial staff of ETFWorld.co.uk
Maria Luisa Gota, CEO and General Manager of Eurizon
On 27 April 2026, the asset management company of the Intesa Sanpaolo Group announced the launch of the YourActive SICAV platform, dedicated to actively managed ETFs, and the simultaneous debut of its first product: YAS Robotics Active UCITS ETF.
A passive platform that has reached 33 sub-funds
Eurizon entered the ETF market in May 2025 with the first 10 equity funds in the YourIndex SICAV range. Since then, the offering has grown to 33 sub-funds — 16 equity and 17 bond — which, as of April 2026, manage assets in excess of €19 billion. The strategies cover all geographical areas and asset classes, with a specific focus on ESG themes. The range includes both traditional classes aimed at institutional investors and UCITS-listed ETF classes, with competitive costs and an in-house capital markets structure.
Eurizon is the only company in Italy to manage all ETF activities in an integrated manner: from portfolio management to capital markets. This model ensures direct control and operational efficiency throughout the entire chain. The multi-share-class solution of the YourIndex SICAV platform has been appreciated by Italian and international investors for its breadth, transparency and efficiency.
The context: active ETFs are gaining momentum in Europe
In 2025, the European ETF market exceeded $3 trillion in assets under management and recorded $390 billion in inflows, with 621 new launches compared to 317 in 2023. Passive strategies remain dominant in absolute terms, but growth has been driven significantly by active ETFs: launches rose from 32 to 167 in two years and their share of total new issues climbed from 10% to 27%.
It is against this backdrop that Eurizon decided to launch the YourActive SICAV platform in March 2026, registered in Luxembourg in November 2025.
YAS Robotics Active UCITS ETF: the first product
The fund (ISIN: LU322715692) takes an active approach to investing in international companies developing products and services in the robotics and automation sectors. The investable universe covers developed and emerging markets, including China. Management is bottom-up: the team selects securities based on fundamental analysis, favouring companies considered to be of high quality and undervalued relative to their long-term cash flow generation potential. The portfolio is concentrated and characterised by a high degree of conviction in investment choices.
The benchmark is the MSCI ACWI IMI Robotics Index (net total return), which as at 27 February 2026 comprised 327 constituents and had a market capitalisation of $10.56 trillion. The fund does not apply ESG criteria in the composition of the portfolio or in the measurement of performance.
Fund summary:
Feature Details
Name YAS Robotics Active UCITS ETF
ISIN LU322715692
Denomination currency USD
Trading currency EUR
TER 0.50%
Dividends Accumulation
Listing Borsa Italiana (25 March 2026)
The fund invests primarily in equities, with a minimum exposure of 70% of net assets in equities and related instruments. The fund manager may use derivatives for hedging, cost reduction or additional exposure. Securities lending is permitted, with an expected utilisation of 5% and a maximum limit of 30% of assets. Access to the Chinese market is via the Hong Kong Stock Connect programme. Exposure to securities and performance will tend to deviate moderately from the benchmark, in line with the active approach.
Eurizon has indicated that the robotics ETF is the first product in a defined pipeline, which envisages the launch of further active thematic ETFs in the coming months.
Statement from the CEO
Maria Luisa Gota, CEO and General Manager of Eurizon, issued the following statement:
“Product innovation is a key factor for success in the asset management industry. For Eurizon, it is strategic to compete with its passive and active ETFs, which are increasingly used by institutional and private clients. ETFs are simple and cost-effective instruments which, when offered to retail clients, must be complemented by advice that identifies investment solutions tailored to their needs. Passive and active ETFs are complementary to traditional funds and can be combined in diversified portfolios to create value efficiently through targeted asset allocation.”
A two-range strategy
With the launch of YourActive, Eurizon is complementing the passive ETFs of the YourIndex range with a line of actively managed products. Trackinsight data show that in nine months, inflows into Eurizon ETFs reached $6.1 billion, a result that reflects the distribution capacity of the Intesa Sanpaolo group and investors’ interest in low-cost listed instruments.
Eurizon Asset Management, a subsidiary of the Intesa Sanpaolo Group, manages total assets of approximately $474 billion. The decision to enter the active ETF segment follows a previously outlined trajectory: in September 2025, Maria Luisa Gota had indicated that the company would take its first steps into active ETFs in early 2026, after having built the passive platform.
What to watch
Eurizon’s entry into thematic active ETFs places the company in a rapidly evolving segment. The European active ETF market reached approximately $96 billion in assets under management by the end of 2025, with inflows on the rise, and is characterised by a still-high concentration among a few large operators.
For Eurizon, the challenge will be twofold: to continue expanding the YourIndex passive range, which has already reached a significant size, and to build a YourActive active range that is sufficiently broad and distinctive to attract inflows in a crowded market. The decision to start with a theme — robotics — where the European listed offering is dominated by passive products such as the iShares Automation & Robotics UCITS ETF (around €3 billion in assets and listed since 2016) indicates the intention to position itself where an active manager can differentiate itself. Success in this endeavour will depend on the quality of stock selection and the ability to generate performance that justifies the management fee compared to a passive exposure to the same theme.
Source : ETFWorld.co.uk
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