Vanguard Leads with $2.66B Inflow as Equity and Fixed Income Attract Over $3.4B Each

Issuer League Tables

Vanguard led all issuers with $2.66 billion in net inflows, continuing a strong trend that has seen the firm attract $45.43 billion over the past month and $340.45 billion year-to-date. SPDR and iShares also posted significant creations, adding $1.27 billion and $816.8 million, respectively. On the other end of the spectrum, Invesco experienced the day’s largest redemptions, shedding $1.11 billion, a notable reversal from its positive $15.27 billion 30-day flow. In relative terms, Alger stood out by adding $467.7 million, representing a substantial 16.86% increase in its assets under management.

Issuer Flows (Absolute)

Issuer Flows (Relative to AUM)

Daily ETF Flow Analysis

The ETF market recorded $7.32 billion in total net inflows, pushing the year-to-date total to over $1.32 trillion. Asset class flows were remarkably balanced between Equity and Fixed Income, which brought in $3.42 billion and $3.47 billion, respectively. This activity continues a strong month for both categories, which have added $80.28 billion and $50.55 billion over the last 30 days. Commodity funds were the primary laggard, seeing net redemptions of $432.0 million, driven by outflows from Precious Metals products. U.S. Large Cap Blend was the most popular category, attracting $3.27 billion in new assets.

Asset Class Flows

Category Flows (Top/Bottom 10)

U.S. Size & Style

U.S. Large Cap Blend funds saw significant and divergent activity, with the State Street SPDR S&P 500 ETF (SPY) leading all ETFs with a $1.89 billion inflow. The Vanguard Morningstar Total Stock Market ETF (VTI) and Vanguard S&P 500 ETF (VOO) also gathered substantial assets, adding $1.05 billion and $695.6 million. Conversely, the Invesco QQQ Trust Series I (QQQ) experienced the day’s largest single-fund outflow at $1.24 billion. The iShares Core S&P 500 ETF (IVV) also saw heavy redemptions, losing $737.3 million.

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Size & Style ex-U.S.

Emerging markets equity funds led inflows for the ex-U.S. category, headlined by the Vanguard FTSE Emerging Markets ETF (VWO) which attracted $121.0 million. The iShares MSCI EAFE Value ETF (EFV) also saw healthy demand, pulling in $65.1 million. Redemptions were modest in comparison, with the Avantis International Small Cap Value ETF (AVDV) posting the largest outflow of $36.6 million. The Harbor International Compounders ETF (OSEA) followed with a $23.1 million redemption.

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Sector & Industry

Sector funds experienced a net outflow, driven by significant redemptions from Financials and Technology. The State Street Financial Select Sector SPDR ETF (XLF) saw the largest exit, with $699.4 million withdrawn. Semiconductor funds also faced pressure, as the iShares Semiconductor ETF (SOXX) shed $391.4 million. Inflows were comparatively small, led by the State Street Energy Select Sector SPDR ETF (XLE), which added $90.7 million.

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Region & Country

Country-specific ETFs saw targeted interest, with the iShares MSCI Canada ETF (EWC) standing out with a significant $242.3 million inflow. Other notable creations included $49.3 million for the iShares Asia 50 ETF (AIA). On the other side of the ledger, Latin America-focused funds saw outflows, with the iShares MSCI Brazil ETF (EWZ) losing $108.7 million. The iShares Latin America 40 ETF (ILF) also experienced redemptions totaling $67.3 million.

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Thematic

Active thematic strategies led inflows, with the iShares U.S. Thematic Rotation Active ETF (THRO) collecting $137.4 million and the iShares A.I. Innovation and Tech Active ETF (BAI) adding $112.6 million. Infrastructure was the primary source of outflows, as the iShares U.S. Infrastructure ETF (IFRA) recorded a substantial $276.3 million redemption. The popular Roundhill Magnificent Seven ETF (MAGS) also saw a notable $56.6 million exit.

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Fixed Income

Fixed income ETFs saw broad-based demand, attracting $3.47 billion in net new assets. Long-duration government bonds were a popular segment, with the iShares 20+ Year Treasury Bond ETF (TLT) pulling in $528.7 million. Investment grade corporate bonds also saw strong interest, as the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) added $496.7 million. Outflows were concentrated in the municipal bond space, where the Vanguard Tax-Exempt Bond ETF (VTEB) shed $218.5 million.

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Commodity

Commodity funds registered net outflows of $432.0 million, largely due to a single large redemption from a gold product. The SPDR Gold Shares (GLD) experienced a significant $767.8 million withdrawal. This was partially offset by strong interest in silver, as the iShares Silver Trust (SLV) gathered $148.2 million. Other gold products, such as the SPDR Gold Minishares Trust of beneficial interest (GLDM), saw modest inflows of $52.3 million.

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Cryptocurrency

Digital asset products continued their inflow streak, adding a collective $335.5 million. The category leaders maintained their dominance, with the iShares Bitcoin Trust ETF (IBIT) attracting $160.2 million and the Fidelity Wise Origin Bitcoin Fund (FBTC) bringing in $111.9 million. The iShares Ethereum Trust ETF (ETHA) also saw a respectable $25.9 million inflow. Redemptions across the category were minimal for the day.

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Non-Traditional

Non-traditional ETFs saw mixed activity, with inverse equity funds gathering assets while leveraged products experienced outflows. The ProShares UltraPro Short S&P500 (SPXU) led inflows with $175.6 million, and the NEOS Nasdaq 100 High Income ETF (QQQI) added $152.1 million. The FT Vest U.S. Small Cap Moderate Buffer ETF – August (SAUG) saw a $78.5 million inflow (may be the result of a custom rebalance). The largest redemption came from the Direxion Daily Semiconductor Bull 3X ETF (SOXL), which shed $333.7 million.

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Recent Launches

The most recent launches include the Tema Power Semiconductor ETF (SIC) and a pair of thematic growth funds from Virtus, the Virtus Zevenbergen Innovative Growth ETF (ZINN) and Virtus Zevenbergen Discovery Growth ETF (ZDIS). Other recent additions to the market include the BNY Mellon Emerging Markets Debt ETF (BEMD), which has accumulated $23.9 million in assets since its mid-August debut. The HCM Hedged Equity ETF (HAWG) has also gathered significant initial assets, reaching an AUM of $93.5 million.