State Street Launches Two Small-Cap Active ETFs
State Street Investment Management and Van Lanschot Kempen have launched two small-cap active equity ETFs focused on US and European ex-UK markets.
Updated on Nov. 10, 2026 in Investing
State Street Investment Management and Van Lanschot Kempen Investment Management launched two small-cap active ETFs: the State Street Kempen US Small Cap Active Equity UCITS ETF and the State Street Kempen Europe ex-UK Small Cap Active Equity UCITS ETF. The funds sit under State Street's existing ETF umbrella and are sub-advised by Van Lanschot Kempen.
Why it matters
The launches follow increased interest in small-cap stocks from European investors, giving them access to actively managed small-cap strategies in a wrapper they already use. The funds add to State Street's active ETF range, which has grown by more than 11% in 2026 so far.
State Street IM's active ETF range has grown more than 11% in 2026 so far, and the two new funds join three global equity active ETFs launched in February. The announcement does not disclose fund sizes, fees, or early inflows for the new products.
The players
State Street Investment Management
The asset management arm of State Street Corporation, one of the world's largest custodian banks, which manages a broad range of index and active investment strategies.
Van Lanschot Kempen Investment Management
The Dutch asset manager of Van Lanschot Kempen, a Netherlands-based private bank and investment firm with a long-established small-cap equity franchise.
The details
Both ETFs are housed under State Street IM's existing ETF umbrella and will be classified as Article 8 under SFDR, integrating a sustainability overlay. Van Lanschot Kempen brings its US and European small-cap investment capabilities to the structure as sub-advisor.
Timeline
February 2026: State Street IM launched three global equity active ETFs, including a small-cap focused fund.
2026 year-to-date: The firm's active ETF range grew by more than 11%.
November 10, 2026: The two new small-cap active ETFs were announced.
Market Dynamics
The funds are structured as UCITS ETFs and classified under SFDR Article 8, placing them within the EU's regulated framework for both fund structure and sustainability disclosure. Their launch extends that framework into actively managed small-cap equity strategies.
European investors gain a new option for active small-cap exposure through an existing ETF wrapper, rather than building a separate allocation. Fund fees and performance will determine whether the strategy fits a portfolio, and those figures were not included in the announcement.
The takeaway
Investors comparing active small-cap funds should check fees, sub-advisor track records, and sustainability classifications before allocating. Structure and disclosure labels such as SFDR Article 8 are useful starting points but do not indicate performance.
Further reading
For more on how these funds are built and how investors evaluate them, see Investing.
