Vanguard Gathers $1.8B as Space Innovators and Leveraged ETFs Defy Market Outflows

Issuer League Tables

Vanguard led all issuers in absolute daily inflows by gathering $1,884M, expanding its total assets under management to $4,330.54B. Avantis followed with $1,528M in daily inflows, contributing to its $127.50B asset base. Ocean Park ranked highest in relative asset growth, expanding by 11.99% with $10M in daily inflows. State Street SPDR experienced the largest absolute daily outflows at -$5,820M, followed by Invesco with -$1,296M. Oakmark saw the largest relative asset contraction, shedding 3.56% of its asset base through -$41M in daily outflows.

Issuer Flows (Absolute)

Issuer Flows (Relative to AUM)

Daily ETF Flow Analysis

Fixed Income ETFs accumulated the highest daily asset flows across all major asset classes, securing $3,336M to reach a total of $2,487.78B in assets. Non-Traditional ETFs ranked second with $2,700M in daily inflows, while Equity ETFs recorded the largest aggregate daily decline of -$4,059M. At the category level, Non-Traditional Leveraged and Inverse Single Stock funds captured $1,103M in new assets. Fixed Income Taxable Government Ultrashort funds generated the second-highest category inflows at $937M for the day. Conversely, U.S. Large Cap Blend Equity funds lost -$5,298M, marking the sharpest single-day category contraction.

Asset Class Flows

Top/Bottom 10 Category Flows

U.S. Size & Style

The U.S. Size and Style segment exhibited a pronounced divergence in daily flows between value and broad blend allocations. Dimensional’s DFAC led the segment with $512M in daily inflows, bringing its total assets to $45.3B. Fundstrat’s GRNY followed closely, attracting $448M in new capital. The State Street SPY recorded the largest daily outflows within the group, shedding -$6,015M. The Invesco QQQ similarly experienced significant capital reductions, logging -$1,017M in daily outflows.

Size & Style ex-U.S.

International equity flows demonstrated concentrated activity within emerging markets and broad international allocations. The Avantis AVEM captured the highest daily inflows in the category with $140M. The Schwab SCHF and iShares ACWI gathered $133M and $123M, respectively. Capital Group’s CGGO represented the most significant daily contraction, losing -$98M in assets. The iShares HEFA ranked second in total daily outflows by shedding -$87M.

Sector & Industry

Sector and Industry ETF flows showed top-level concentration in healthcare and semiconductor strategies over the daily tracking period. The State Street XLV led the group with $280M in daily inflows, increasing its total assets to $38.0B. Semiconductor funds also gathered assets, with the VanEck SMH and iShares SOXX adding $272M and $223M, respectively. Broad technology and financial sectors faced capital reductions, led by the iShares IXN which shed -$519M. The State Street XLF followed as the second-largest laggard, experiencing -$391M in daily outflows.

Region & Country

Daily asset flows in the Region and Country segment varied widely, with notable activity in Australian and South Korean allocations. The iShares EWA recorded the highest daily inflows by securing $80M, expanding its asset base to $1.41B. The KraneShares KSTR trailed distantly in second place with $6M in daily additions. Conversely, the iShares EWY logged the largest segment outflow, reducing its total assets by -$318M. The iShares EWC and Vanguard VGK also faced daily contractions, losing -$98M and -$86M respectively.

Thematic

Thematic ETF flows demonstrated a clear preference for space innovation and quantum computing strategies during the daily tracking window. The Tema NASA amassed $367M in daily inflows to lead the segment, achieving a total asset level of $1.25B. Procure’s UFO followed with $57M in new capital allocations. Disruptive technology and homebuilding themes saw absolute reductions, with the ARK ARKK posting the largest outflow at -$129M. The State Street XHB experienced the second-largest decline, shedding -$52M over the same period.

Fixed Income

Fixed Income ETFs captured significant capital, led primarily by ultra-short duration and inflation-protected government bond strategies. The iShares SGOV accumulated $503M in daily inflows, expanding its total assets to $90.49B. Vanguard’s VTIP and iShares IEF followed, securing $405M and $363M respectively. High yield and corporate bond funds faced net reductions, with the iShares HYG logging the largest daily outflow of -$182M. The Vanguard VCIT also contracted, shedding -$171M in daily assets.

Commodity

Daily commodity ETF flows were characterized by additions to broad oil strategies and significant reductions in physical gold products. The United States USO led the category with $76M in daily inflows, bringing its total asset base to $1.97B. Invesco’s PDBC captured $8M in new assets to secure the second position. The iShares IAU recorded the largest daily contraction across all commodity funds, losing -$245M. The abrdn SGOL ranked as the second-largest laggard with -$30M in daily outflows.

Cryptocurrency

Cryptocurrency ETFs experienced modest daily inflows into hyperliquid and altcoin strategies alongside heavy outflows from spot Bitcoin products. The 21Shares THYP led daily additions with $5M, reaching $0.02B in total assets. Multiple alternative currency funds, including the Franklin XRPZ and Canary XRPC, gathered $1M each. The iShares IBIT recorded the segment’s largest capital decline, shedding -$326M to close at $61.99B in assets. The iShares ETHA similarly contracted, experiencing -$59M in daily outflows.

Non-Traditional

Non-Traditional ETF flows were heavily dominated by leveraged single-stock and defined outcome buffer strategies. The Direxion SOXL registered the largest daily inflow at $722M, elevating its assets to $20.51B. GraniteShares’ NVDL also expanded substantially, gathering $546M in new capital. Conversely, the ProShares TQQQ posted the largest absolute daily outflow, reducing its asset base by -$98M. Innovator’s UNOV experienced the second-largest daily contraction, losing -$65M.

Recent Launches

The ETF market recorded a steady pace of new product introductions across unclassified and non-traditional strategies in mid-May. Tuttle Capital debuted the HALX, which accumulated $0.25M in initial assets, while GraniteShares launched the AHD. SEI introduced the LEND fund, quickly amassing a sizable $1,030.45M in assets under management. CresAlta added both the CVSM and CVGD to its product lineup, capturing $88.99M and $130.71M respectively. Volatility Shares expanded the cryptocurrency space with the introduction of SUIL, gathering $0.75M.