Legendary investor Jeremy Grantham’s GMO is launching its first ETF

• Jeremy Grantham’s GMO has filed with regulators to create its first ETF.
• The proposed fund will be actively managed and focus on high quality stocks.
• This comes as investment firms are turning towards ETFs over mutual funds, which have fallen in popularity. 

Jeremy Grantham’s GMO is hopping into the ETF industry in a first for the $59 billion investment firm.

The proposed fund would be an actively-managed ETF with a focus on equities the company considers high quality, an application filed Monday with the Securities and Exchange Commission said. Known as the GMO US Quality ETF, it would operate under the ticker QLTY.