ARK Innovation Draws $1.35B as Broad Equity Retreats

SPDR led all issuers in absolute terms with a $4.98B single-day inflow, a sharp reversal from its ($7.65B) 5-Day and ($17.85B) 30-Day trend, though it still trails on a YTD basis with $88.86B gathered. ARK posted the largest non-mega absolute inflow at $1.47B, consistent with strong 5-Day ($2.83B) and 30-Day ($2.81B) trends, and also ranked among relative leaders at 8.51% of AUM. On the outflow side, Schwab shed ($14.83B), Invesco ($10.36B), Vanguard ($7.62B), VanEck ($7.12B), and iShares ($6.63B), though iShares’ 5-Day figure remains positive at $27.55B, underscoring single-day volatility versus longer trends. Among relative movers, SonicShares (11.21%) and Gadsden (10.53%) led inflows while Optimize (-47.96%) and Pacer (-10.16%) posted the steepest outflows relative to AUM.

Total ETF flows were negative on the day at ($47.21B), a marked contrast to the 1W ($44.22B), 1M ($109.24B), and YTD ($1,471.67B) totals, driven primarily by Equity outflows of ($51.58B). Fixed Income countered with a $4.03B inflow, extending its steady 1W ($14.34B) and 1M ($49.44B) accumulation pace and pushing YTD flows to $468.85B. Digital Asset ($617.2M) and Commodity ($165.7M) categories posted modest gains, while Non-Traditional saw ($618.9M) leave despite a $5.01B 5-Day inflow. At the category level, Equity: Thematic – Multi-Sector led inflows with $1.40B and Fixed Income: Taxable – Government Ultrashort added $1.06B, while Equity: U.S. Large Cap – Growth ($11.83B) and Equity: U.S. Large Cap – Value ($10.90B) paced the outflow list.

The State Street SPDR S&P 500 ETF (SPY) led U.S. size and style flows with a $6.40B inflow, followed by the State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at $1.50B. On the outflow side, the Invesco S&P 500 Momentum ETF (SPMO) shed ($6.33B), while the Vanguard S&P 500 ETF (VOO) lost ($4.42B). The Pacer US Cash Cows 100 ETF (COWZ) and Schwab U.S. Small-Cap ETF (SCHA) also posted notable redemptions of ($3.45B) and ($3.26B) respectively, reflecting broad-based pressure across large, mid, and small-cap products.

Ex-U.S. size and style flows were led by the Vanguard FTSE Developed Markets ETF (VEA) with $572.0M, followed by the Vanguard Total International Stock ETF (VXUS) at $300.5M and the Vanguard FTSE Emerging Markets ETF (VWO) at $240.4M. On the outflow side, the Schwab Fundamental International Equity ETF (FNDF) lost ($551.9M) and the Schwab International Small-Cap Equity ETF (SCHC) shed ($195.9M). The category-level Equity: Global Ex-U.S. Large Cap – Blend group still posted a $931.2M net inflow, indicating divergence between individual fund flows and the broader category.

Sector flows were led by the iShares Semiconductor ETF (SOXX) at $799.8M and the Vanguard Information Technology ETF (VGT) at $129.0M. In sharp contrast, the VanEck Semiconductor ETF (SMH) posted the largest sector outflow at ($4.10B), followed by the State Street Financial Select Sector SPDR ETF (XLF) at ($1.28B) and the State Street Health Care Select Sector SPDR ETF (XLV) at ($817.1M). This divergence between the two largest semiconductor-focused ETFs highlights the category-level outflow of ($4.31B) for Equity: Sector – Information Technology overall.

Regional flows were comparatively muted, with the Vanguard FTSE Europe ETF (VGK) leading inflows at $79.6M, followed by the Franklin FTSE Taiwan ETF (FLTW) at $21.4M and the JPMorgan BetaBuilders Canada ETF (BBCA) at $20.8M. On the downside, the iShares MSCI India ETF (INDA) saw the largest regional outflow at ($190.5M), followed by the iShares MSCI South Korea ETF (EWY) at ($45.5M). Overall dollar magnitudes in this category remained small relative to broader U.S. equity and sector flows.

Thematic flows were dominated by the ARK Innovation ETF (ARKK), which drew $1.35B, alongside the ARK Autonomous Technology & Robotics ETF (ARKQ) at $122.2M and the Roundhill Magnificent Seven ETF (MAGS) at $77.6M. On the outflow side, the Amplify Cybersecurity ETF (HACK) shed ($94.9M) and the Defiance Space and Connective Tech ETF (UFOX) lost ($75.7M). The category as a whole saw Equity: Thematic – Multi-Sector post the largest single-day category inflow across all of equities at $1.40B, largely attributable to ARKK’s flow.

Fixed Income flows were led by the Vanguard Short-Term Corporate Bond ETF (VCSH) at $302.9M, the iShares 0-3 Month Treasury Bond ETF (SGOV) at $276.6M, and the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) at $272.0M. On the outflow side, the Vanguard Intermediate-Term Corporate Bond ETF (VCIT) lost ($254.8M) and the iShares 20+ Year Treasury Bond ETF (TLT) shed ($138.0M). These fund-level moves aligned with the broader Fixed Income asset class inflow of $4.03B, led at the category level by Government Ultrashort ($1.06B) and Ultrashort ($544.8M) products.

Commodity flows were led by the iShares Silver Trust (SLV) with $436.0M, followed by the United States Oil Fund LP (USO) at $61.8M and the iShares Gold Trust (IAU) at $32.7M. Meanwhile, gold-focused products SPDR Gold Shares (GLD) and SPDR Gold Minishares Trust (GLDM) saw outflows of ($239.2M) and ($120.4M) respectively. The overall Commodity asset class posted a modest $165.7M net inflow, well below its 1W ($2.40B) and 1M ($6.36B) pace.

Cryptocurrency flows were positive overall at $617.2M for the Digital Asset class, led by the Fidelity Wise Origin Bitcoin Fund (FBTC) at $310.7M, the iShares Ethereum Trust ETF (ETHA) at $114.3M, and the iShares Bitcoin Trust ETF (IBIT) at $108.4M. The Bitwise Solana Staking ETF (BSOL) added $47.6M while the Grayscale Zcash Trust (ZCSH) gathered $37.7M. On the outflow side, the ProShares Bitcoin ETF (BITO) shed ($47.9M), while other crypto products saw minimal activity.

Non-Traditional flows were led by the ProShares UltraPro Short QQQ (SQQQ) at $270.3M, followed by the Tradr 2X Short SNDK Daily ETF (SNDQ) at $105.5M (may be the result of a custom rebalance) and the ProShares UltraPro Short S&P500 (SPXU) at $58.1M. On the outflow side, the ProShares UltraPro QQQ (TQQQ) lost ($462.2M) and the ProShares Ultra S&P 500 (SSO) shed ($396.0M). The Tradr 2X Long SNDK Daily ETF (SNXX) also posted a large outflow of ($185.5M), which pairs with the SNDQ inflow and likely reflects offsetting rebalance activity rather than genuine net demand shifts.

Recent launches skewed toward leveraged single-stock and equity products, including the T-REX 2X Long ASST Daily Target ETF (ASSX) and Yorkville America 2X Long MANGOS Plus Daily Target ETF (MNGZ), both still under $300K in AUM. T. Rowe Price introduced several new equity offerings, including the T. Rowe Price Small Cap ETF (TSEE), T. Rowe Price Biotech ETF (TDNA), and T. Rowe Price Mid Cap Equity Research ETF (TMID), each launching with $10.0M in AUM. The CG Flagship Equity ETF (CGFS) stood out with a notably larger $110.8M AUM at inception, while the Westwood Salient Enhanced Power & Infrastructure ETF (PWRX) and 800VDC AI Datacenter Ecosystem ETF (HUMM) rounded out the group with income and thematic infrastructure mandates, respectively.