Neuberger has added a new tool to its active ETF toolkit: the Neuberger Quality Select ETF (NQLT). It's a high-conviction strategy that picks quality mid- and large-cap companies, spanning both growth and value stocks. The idea is to give investors a way to own solid businesses without betting everything on the usual mega-cap tech names.

The timing makes sense. Active ETFs have been on a tear lately, with asset managers rolling out all sorts of strategies that try to beat plain-vanilla index funds. In a market where a handful of giant stocks dominate the headlines, investors are looking for something different.

Portfolio manager Daniel P. Hanson put it this way: today's market has "increasingly narrow leadership, sharp factor rotations and rapid technological change." His solution? Focus on companies with "durable competitive advantages, strong cash flow generation and high returns on invested capital." In other words, skip the hype and stick with businesses that actually make money. The fund explicitly avoids "speculative or unproven growth companies with uncertain long-term economics."

Anil Abraham, Neuberger's head of ETF Product Development, noted that active ETFs have become a go-to for investors who want liquidity, transparency, and the benefits of active management. NQLT, he said, "broadens access to the firm's long-standing quality equity capabilities."

Here's what you need to know about the new ETF:

• Strategy: Actively managed, investing mainly in mid- and large-cap common stocks.
• Approach: A high-conviction portfolio that blends growth and value, with an eye on business quality and valuation.
• Avoids: Speculative growth stocks with fuzzy long-term prospects.
• Portfolio manager: Daniel P. Hanson, CFA.
• Quality Equity Group assets: Over $9 billion under management.
• Net expense ratio: 0.48%.
• ETF platform: Since its first active ETF in 2022, Neuberger now runs 14 ETFs with more than $3.8 billion across equities, fixed income, real assets, and liquid alternatives.

So if you're tired of watching the same mega-cap stocks drive all the action, NQLT might be worth a look. It's a bet on quality—and on the idea that active management can still find value beyond the usual suspects.