The Wall Street Journal catches on to the fate of the Bear Stearns Current Yield Fund. As previously reported by MFWire, the launch yesterday of what would have been the industry's first actively-managed ETF never happened, leaving PowerShares the apparent front-runner in the race if Bear's delay continues long enough. (See "First Active ETF Launch is Delayed", March 18, 2008.)

Following in the footsteps of John Spence's ETF-focused coverage on Tuesday, Rob Wherry also uses the Wednesday Fund Track column (login required) to look at index and actively-managed funds hit heavily by the fall of Bear Stearns. According to Wherry, the Legg Mason Value Trust, the Vanguard 500, the Vanguard Total Stock Market and Vanguard Windsor II are just a few of those with affected holdings. He also lists each fund's decline so far in 2008, though it seems unlikely that any fund listed sinks or swims on Bear's share price alone. 

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