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ETF adoption rises across Europe, country and age gaps persist

Posted: 15 July 2026, 15:33 CET 2 min read

Thirty-five percent of European retail investors hold ETFs and 31% say they understand active versus passive ETFs; awareness varies by country and age.

Fidelity International’s Be Invested Global Study, conducted in 2026, surveyed 6,500 retail investors across Europe and found 35% have invested in exchange-traded funds or exchange-traded products, while 31% said they understand the difference between active and passive ETFs. Data from ETFGI cited by Fidelity show European ETF assets reached $3.77 trillion at the end of May 2026, with year-to-date inflows of $220.9 billion. Active ETFs drew about $20.3 billion so far in 2026, roughly double the amount recorded in the same period of 2025.

Respondents cited ease of trading (44.8%), diversification (43.2%) and competitive costs (41.4%) as the main reasons for using ETFs. Fidelity reported these factors as primary drivers of ETF adoption among retail investors.

The study found differences across Europe. A higher share of investors in Germany (47%), the UK (39%) and Switzerland (38%) said they understand the distinction between active and passive ETFs. Spain (35.1%) and the Netherlands (32.7%) showed moderate awareness. France (28.7%) and Italy (27.9%) recorded lower levels of understanding.

The survey identified a generational split in ETF knowledge and behaviour. Forty-four percent of investors aged 18–34 said they understand active versus passive ETFs, compared with 20% of those over 55; 65% of the oldest group reported they do not understand the distinction. Younger investors placed more emphasis on ease of use (46%) and were less likely to cite cost (38%) than other groups. Investors aged 35–54 were the most fee-conscious, with 43% highlighting competitive costs. Older investors indicated a higher reliance on professional recommendations.

Fidelity described active ETFs as a growing segment of the market and highlighted their contribution to overall ETF inflows in 2026. “It is encouraging that almost one in three European investors already understand the distinction between active and passive ETFs,” Stefan Kuhn, Head of ETF Distribution at Fidelity International, observed.

Fidelity said the active ETF market is relatively recent in Europe and recommended further investor education on ETF approaches, how they align with goals and time horizons, and their different risk profiles as the active segment expands.