Exchange-traded funds can still compete in today's "stock picker's" market, according to a top investor. He predicts actively managed ETFs will continue to gain traction through the second half of the year. "We used to only have index ETFs," Repetto noted. However, he emphasized this has changed over the past three years as the number of actively managed ETFs has grown. Repetto's firm is behind the Avantis U.S. Equity ETF , an actively managed portfolio of U.S. stocks.

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Persons: Eduardo Repetto, CNBC's, Repetto Organizations: Equity ETF, Apple, Microsoft Locations: U.S