State Street teaming with Gundlach to challenge Pimco offering

The actively managed SPDR DoubleLine Total Return Tactical ETF is looking like a direct competitor to Bill Gross' Total Return ETF (BOND), the largest actively managed ETF (which has gone from $0 to $3.4B in AUM in two years).

It's not State Street's (STT) first foray into actively managed funds. Earlier this year, SSgA teamed with MFS Investment Management for three others.

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