Financial Planning's Howard Stock this morning discusses the validity of active ETFs in an article.

Stock highlights the failed attempts of Grail Advisors [see profile], which officially closed two of its active exchange-traded funds today, as contributing to the shrinking universe of active ETFs, which is currently made up of just 28 funds. He also cites Tom Graves, an ETF analyst with Standard & Poor’s Equity Research, who said that only 14 active ETFs have debuted since Sept. 15, 2009.

As further testament to the brittle active ETF market, Technology and RP Financials have reportedly garnered only $3 million and $2 million repsectively in assets.

However, there are some good news for active ETF investors: Graves reportedly said that of WisdomTree’s [see profile] nine active currency ETFs, three of them hold more than $200 million in assets, and the most successful active ETF in WisdomTree's lineup is its Chinese Currency ETF, which currently manages some $600 million in assets.

Active fixed income ETFs such as Pimco’s MINT ETF [see profile], have also reportedly proved popular among investors. 

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