Julie Gunts of AllianceBernstein notes that passive ETFs, with their low fees, once fueled industry growth and laid the groundwork for the current ETF market. Now, active ETFs are more competitively priced against active mutual funds, and investors are increasingly willing to pay for strategy and performance. Consequently, the industry has shifted from a "passive vs. active" debate to a "portfolio construction" approach, where advisors and investors combine both to achieve specific objectives.