Semiconductor ETFs Dominate with Over $3 Billion in Daily Net Inflows

Issuer League Tables

iShares led all issuers with $3.23 billion in net inflows, contributing to its year-to-date total of $231.34 billion. Invesco and VanEck also had strong showings, gathering $2.21 billion and $1.91 billion respectively, with VanEck’s total largely driven by a single semiconductor fund. On the other end of the spectrum, ProShares experienced the largest net redemptions at $312.7 million, followed by SPDR with $303.1 million in outflows. In relative terms, Longview saw its assets under management increase by 10.89% from a $93.4 million inflow, while Hennessy’s AUM decreased by 44.36% following a $41.8 million redemption.

Issuer Flows (Absolute)

Issuer Flows (Relative to AUM)

Daily ETF Flow Analysis

The ETF market recorded $14.36 billion in total net inflows, bringing the year-to-date total to $1.08 trillion. Equity funds were the primary driver, attracting $8.79 billion, followed by Fixed Income funds which added $4.04 billion. Non-Traditional products also saw significant interest with $1.16 billion in new assets. In contrast, Commodity funds continued a pattern of outflows, shedding another $11.6 million to deepen their year-to-date deficit to $7.91 billion. The leading category for the day was Information Technology, which pulled in $3.35 billion, while Consumer Discretionary saw the largest redemptions at $282.3 million.

Asset Class Flows

Category Flows (Top/Bottom 10)

U.S. Size & Style

U.S. size and style funds saw significant divergence, with the State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) leading all funds with a $1.72 billion inflow. Other top gatherers included the Invesco QQQ Trust Series I (QQQ) with $856.1 million and the Vanguard S&P 500 ETF (VOO) with $784.5 million. Conversely, the State Street SPDR S&P 500 ETF (SPY) experienced the day’s largest outflow of any ETF, shedding $3.36 billion. Significant redemptions were also seen in the Vanguard Growth ETF (VUG), which lost $328.7 million.

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Size & Style ex-U.S.

Flows into international developed and emerging market funds were led by the Avantis International Equity ETF (AVDE), which collected $161.3 million. The iShares MSCI EAFE Value ETF (EFV) also saw positive interest, adding $93.0 million. On the outflow side, Dimensional funds saw the largest redemptions, with the Dimensional International Small Cap Value ETF (DISV) and Dimensional International Small Cap ETF (DFIS) losing $99.8 million and $99.4 million, respectively. The Capital Group International Focus Equity ETF (CGXU) also shed a notable $65.7 million.

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Sector & Industry

The technology sector, specifically semiconductors, was the clear focus of the day’s activity, attracting billions in new assets. The VanEck Semiconductor ETF (SMH) pulled in a massive $1.78 billion, while the iShares Semiconductor ETF (SOXX) added another $1.16 billion. In contrast, the iShares Expanded Tech-Software Sector ETF (IGV) saw the largest sector outflow at $402.0 million. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) and State Street Materials Select Sector SPDR ETF (XLB) also faced significant redemptions of $269.6 million and $109.2 million, respectively.

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Region & Country

Country-specific funds saw mixed but generally modest flows, with European equities attracting some interest. The iShares MSCI Spain ETF (EWP) led inflows with $80.6 million, followed by the iShares MSCI Italy ETF (EWI) which added $36.2 million. The most significant move was a large redemption from the iShares MSCI South Korea ETF (EWY), which saw outflows totaling $240.5 million. Other notable outflows included $21.7 million from the Invesco China Technology ETF (CQQQ).

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Thematic

Thematic fund flows were heavily concentrated in technology-related strategies, mirroring the broader sector trend. The Roundhill Memory ETF (DRAM) was the standout leader, gathering $686.2 million in new assets. Homebuilder funds also saw interest, with the State Street SPDR S&P Homebuilders ETF (XHB) adding $90.0 million. Conversely, the Global X Copper Miners ETF (COPX) experienced the largest thematic redemption of $112.3 million. Clean energy and home construction themes also saw outflows, with the iShares Global Clean Energy ETF (ICLN) losing $29.6 million.

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Fixed Income

Core bond strategies attracted the most capital within fixed income, led by a $462.7 million inflow into the iShares Core U.S. Aggregate Bond ETF (AGG). The Vanguard Total Bond Market ETF (BND) and Fidelity Total Bond ETF (FBND) also saw strong demand, adding over $255 million each. On the other side of the ledger, the ProShares GENIUS Money Market ETF (IQMM) recorded the largest outflow at $200.2 million. The F/m Compoundr U.S. Aggregate Bond ETF (CPAG) shed $145.6 million (may be the result of a custom rebalance).

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Commodity

Commodity ETFs registered a small net outflow of $11.6 million, with precious metals funds showing divergent results. The SPDR Gold Shares (GLD) was the top asset gatherer in the category, adding $189.5 million. However, these gains were offset by redemptions elsewhere, including a $75.5 million outflow from the iShares Silver Trust (SLV). Other gold products like the iShares Gold Trust Micro ETF of Benef Interest (IAUM) and iShares Gold Trust (IAU) also saw outflows of $57.6 million and $46.6 million, respectively.

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Cryptocurrency

Digital asset ETFs saw a positive day of flows totaling $282.3 million, reversing some of the category’s recent negative trend. The Fidelity Wise Origin Bitcoin Fund (FBTC) led the way with $166.0 million in net new assets, followed by the ARK 21Shares Bitcoin ETF (ARKB) which added $91.8 million. The iShares Ethereum Trust ETF (ETHA) also gathered a notable $29.7 million. In contrast, the iShares Bitcoin Trust ETF (IBIT) was the primary laggard, experiencing a $40.4 million redemption.

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Non-Traditional

Activity in non-traditional funds was heavily skewed toward bullish semiconductor positions, amplifying the day’s primary theme. The Direxion Daily Semiconductor Bull 3X ETF (SOXL) dominated inflows, attracting a substantial $1.13 billion. The Tradr 2X Long SNDK Daily ETF (SNXX) also saw a notable inflow of $135.1 million. On the bearish side, the Direxion Daily Semiconductor Bear 3X ETF (SOXS) saw the largest outflow of $242.5 million, while the ProShares UltraPro QQQ (TQQQ) shed $143.5 million.

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Recent Launches

The most recent launches were dominated by a suite of Structured Buffer ETFs from issuer Corgi, which came to market in early July. These funds, including the Corgi U.S. Equities 10% Structured Buffer ETF – July Series (JULC) and Corgi Growth & Technology 15% Structured Buffer ETF – July Series (QQJL), cover various U.S. and international equity exposures. Each of the newly launched funds currently holds assets under management of approximately $1 million. Another recent addition was the ARK DIET Q3 Buffer ETF (ARKE), which also launched at the beginning of July.