Large Cap Blend Leads Robust Equity Day

Issuer flows remained concentrated among the largest brands, with SPDR gathering $5.75B on the day, well ahead of its $5.60B 5-Day pace and consistent with a $20.86B 30-Day trend and $116.63B YTD haul. iShares added $3.33B and Vanguard $2.46B, both tracking well below their enormous 5-Day totals of $13.46B and $17.35B respectively, while First Trust brought in $1.09B against a $26.70B YTD total. Among non-mega issuers, Capital Group stood out with $511.3M in absolute inflows, while Direxion saw the largest absolute outflow at ($236.5M), extending a negative 30-Day trend of ($864.9M) and a YTD figure of ($11.55B); Alpha Architect and Roundhill also posted single-day redemptions of ($132.7M) and ($127.8M). On a relative basis, Anfield led with inflows equal to 8.04% of its $622.1M AUM, while Applied Finance saw redemptions of -6.48% of assets, the steepest relative outflow among issuers with at least $50M in AUM.

Total net flows across all tracked ETFs reached $17.52B on the day, well within recent ranges given a $49.14B 5-Day and $176.49B 30-Day pace. Equity led all asset classes with $11.24B, a slower single-day pace relative to its $19.63B 5-Day and $83.02B 30-Day totals but consistent with a $946.97B YTD accumulation. Fixed Income followed with $4.78B, trailing its $25.26B 5-Day and $72.84B 30-Day sums, while Non-Traditional products added $1.23B against an $84.08B YTD total. Digital Asset products posted the lone net outflow among asset classes at ($81.6M), extending a negative 1W trend of ($214.5M) despite a positive $3.41B 30-Day and $4.42B YTD figure. At the category level, U.S. Large Cap – Blend dominated with $6.58B in inflows, while Equity: Sector – Financials led outflows at ($704.8M), followed by Fixed Income: Taxable – High Yield at ($241.1M) and Digital Asset: Cryptocurrency – Ethereum at ($204.0M).

U.S. size and style flows were led by the State Street SPDR S&P 500 ETF (SPY) with $4.28B, followed by the Vanguard S&P 500 ETF (VOO) at $889.1M and the State Street SPDR Portfolio S&P 500 ETF (SPYM) at $683.1M. The Invesco S&P 500 Equal Weight ETF (RSP) added $481.9M and the First Trust Small Cap Growth AlphaDEX Fund (FYC) gathered $440.4M. On the outflow side, the Invesco QQQ Trust Series I (QQQ) shed ($531.6M), the largest of the group, while the iShares Core S&P 500 ETF (IVV) lost ($469.5M) and the iShares Russell Top 200 Value ETF (IWX) gave back ($360.2M).

Ex-U.S. size and style flows were modest, led by the iShares MSCI Emerging Markets ex China ETF (EMXC) with $224.3M and the iShares MSCI EAFE Small-Cap ETF (SCZ) at $135.0M. The iShares MSCI ACWI ex U.S. ETF (ACWX) added $91.7M and the Dimensional International Core Equity Market ETF (DFAI) brought in $79.2M. On the downside, the Cambria Global Value ETF (GVAL) saw the largest redemption at ($48.3M), followed by the Marketbeta INTL Equity ETF (GSID) at ($30.1M).

Sector flows were led by the State Street Communication Services Select Sector SPDR ETF (XLC) with $630.6M, consistent with the $632.8M category-level inflow into Communication Services on the day. The State Street Utilities Select Sector SPDR ETF (XLU) added $316.9M, while the State Street Technology Select Sector SPDR ETF (XLK) and State Street Energy Select Sector SPDR ETF (XLE) gathered $141.4M and $121.1M respectively. The State Street Financial Select Sector SPDR ETF (XLF) was the clear outflow leader at ($669.4M), closely matching the ($704.8M) category-level Financials outflow, while the State Street SPDR S&P Regional Banking ETF (KRE) shed ($101.5M).

Regional flows were dominated by the iShares MSCI Brazil ETF (EWZ) with $540.5M, a substantial portion of the $760.2M Country Specific category inflow for the day. The Franklin FTSE Japan ETF (FLJP) added $126.8M, while the Franklin FTSE South Korea ETF (FLKR) and iShares MSCI Brazil Small-Cap ETF (EWZS) gathered $37.2M and $33.4M respectively. Outflows were comparatively small, led by the iShares MSCI Spain ETF (EWP) at ($22.1M) and the iShares MSCI Mexico ETF (EWW) at ($21.8M).

Thematic flows were led by the First Trust NASDAQ Cybersecurity ETF (CIBR) with $135.1M and the iShares U.S. Home Construction ETF (ITB) at $108.8M. The ARK Innovation ETF (ARKK) added $72.4M and the recently launched Corgi Mangos ETF (MN) gathered $44.9M. The Roundhill Memory ETF (DRAM) posted the largest thematic outflow at ($163.2M), while the ARK Genomic Revolution ETF (ARKG) and Global X Silver Miners ETF (SIL) shed ($33.6M) and ($29.5M) respectively.

Fixed Income flows totaled $4.78B on the day, led by the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) with $734.9M and the iShares 0-3 Month Treasury Bond ETF (SGOV) at $346.6M, consistent with the $825.8M Government Ultrashort category inflow. The iShares 10-20 Year Treasury Bond ETF (TLH) added $256.2M, while the RBB Fund Inc F/m Accumulator Ultrashort Treasury Fund (SGVA) posted $245.2M (may be the result of a custom rebalance). On the redemption side, the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) led outflows at ($331.8M), aligned with the ($241.1M) High Yield category outflow, while the State Street SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) shed ($200.0M) and the Alpha Architect 1-3 Month Box ETF (BOXX) gave back ($132.7M).

Commodity flows were muted overall at $93.8M, trailing the $1.17B 5-Day and $3.55B 30-Day trends. SPDR Gold Shares (GLD) led inflows with $152.4M, while the iShares Gold Trust Micro ETF of Benef Interest (IAUM) added $24.8M. On the outflow side, the United States Oil Fund LP (USO) shed ($43.4M), consistent with the ($73.9M) Energy category outflow, and the iShares Silver Trust (SLV) lost ($38.6M).

Digital Asset flows were net negative at ($81.6M) on the day, extending a ($214.5M) 1-Week outflow despite a positive $3.41B 30-Day and $4.42B YTD trend. The iShares Bitcoin Trust ETF (IBIT) led inflows with $122.0M, while the Bitwise XRP ETF (XRP) added $10.6M. The iShares Ethereum Trust ETF (ETHA) was the dominant outflow at ($201.9M), closely tracking the ($204.0M) Ethereum category outflow, with the Grayscale Bitcoin Mini Trust ETF (BTC) also shedding ($11.0M).

Non-Traditional products gathered $1.23B on the day, led by the GraniteShares 2x Long NVDA Daily ETF (NVDL) with $524.2M, a major contributor to the $906.0M Leverage | Inverse – Single Stock category inflow. The Tradr 2X Long NBIS Daily ETF (NEBX) and Tradr 2X Long BE Daily ETF (BEX) added $94.6M and $91.7M respectively. On the redemption side, the Direxion Daily MU Bull 2X ETF (MUU) led outflows at ($88.6M), followed by the Direxion Daily TSLA Bull 2X ETF (TSLL) at ($80.3M) and the JPMorgan Equity Premium Income ETF (JEPI) at ($77.8M).

Recent launches spanned several categories and issuers, including the Simplify Brookwood Global Macro ETF (GMAC) in Alternative: Absolute Return – Multi-Strategy with $61.9M in AUM and the Nomura High Yield Total Return ETF (HFIX) in Fixed Income: Taxable – High Yield at $76.1M. Thematic exposure arrived via the AAM Ubiquitous ETF (UBIQ) at $1.0M and the Corgi Mangos ETF (MN) at $23.4M in Disruptive Tech. Fixed income launches included the NYLIM MacKay Muni High Income ETF (MMHI) at $25.0M and the T. Rowe Price Dynamic Emerging Markets Bond ETF (TDEM) at $21.3M, while smaller commodity and equity entrants such as the Rareview Bloomberg Commodity Index ETF (BCOM) and VegaShares Trillions ETF (TRIL) launched with sub-$1M in assets.