Fixed Income and Gold ETFs Gather Assets as Large-Cap Equity Sees Billions Exit

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Issuer League Tables

Note on Flow Volatility: Daily flow outliers may be driven by specialized portfolio rebalancing. With the continued growth of actively managed ETFs, these events occur with greater frequency and often do not align with traditional, scheduled index rebalance dates.

BNY Mellon led all issuers with a $4.21B inflow, though this activity was concentrated in a few funds and may be the result of custom rebalances. Among other top gatherers, Vanguard collected a net $1.17B, followed by JPMorgan with $829.8M and Neos with $393.0M. On the redemption side, Invesco saw the largest daily outflow at ($5.90B), trailed by iShares with ($4.25B) and First Trust with ($3.67B). FT Vest’s ($1.49B) outflow was also notable, though likely attributable to scheduled custom rebalance activity in its Buffer ETF lineup.

Issuer Flows (Absolute)

Brand AUM 1 Day 5 Day 30 Day YTD 1 Year
Top 5 Leaders
BNY Mellon (may be the result of a custom rebalance) $22.42B $4.21B $4.31B $4.52B $5.76B $7.50B
Vanguard $4,489.79B $1.17B $8.68B ($21.20B) $296.19B $538.19B
JPMorgan $332.10B $829.8M $1.37B $7.59B $42.98B $77.03B
Neos $30.89B $393.0M $816.2M $1.98B $13.41B $21.83B
Direxion $64.35B $353.3M $1.97B $4.25B ($10.16B) ($24.57B)
Top 5 Laggards
Invesco $949.72B ($5.90B) $19.6M ($915.7M) $51.49B $91.82B
iShares $4,542.05B ($4.25B) $5.79B $70.69B $251.29B $491.32B
First Trust $222.65B ($3.67B) $294.7M ($4.04B) $19.08B $27.83B
FT Vest (may be the result of a custom rebalance) $55.88B ($1.49B) $110.2M ($1.00B) $5.45B $8.87B
Dimensional $304.79B ($271.0M) $976.1M $5.71B $29.57B $49.54B

Issuer Flows (Relative to AUM)

Brand AUM 1 Day Flow 1 Day Flow % of AUM
Top 5 Leaders
BNY Mellon (may be the result of a custom rebalance) $22.42B $4.21B 18.78%
Praxis $171.5M $5.4M 3.17%
Corgi $844.4M $21.2M 2.52%
Brookmont $79.0M $2.0M 2.50%
Moonvest $68.2M $1.6M 2.38%
Top 5 Laggards
Relative Sentiment $130.7M ($18.7M) (14.29%)
GQG Partners $590.2M ($33.7M) (5.71%)
Little Harbor Advisors $236.6M ($9.7M) (4.09%)
Tradr $4.77B ($190.5M) (4.00%)
FT Vest (may be the result of a custom rebalance) $55.88B ($1.49B) (2.66%)

Daily ETF Flow Analysis

The ETF market experienced net outflows of ($7.64B) on the day, bringing the one-week total to $49.32B in creations. The daily redemption was driven almost entirely by the Equity asset class, which shed ($10.72B). In contrast, Fixed Income products attracted $2.69B in new assets, while Commodity funds added $654.6M. At the category level, U.S. Large Cap Growth ($5.12B outflow) and U.S. Large Cap Blend ($3.84B outflow) saw the most significant redemptions, while Global Ex-U.S. Large Cap was the leading category with $2.86B in inflows.

Asset Class Flows

Asset Class AUM 1 Day 1 Week 1 Month YTD 1 Year
Equity $12,160.94B ($10.72B) $32.71B $67.80B $744.10B $1,280.07B
Fixed Income $2,616.17B $2.69B $8.78B $55.80B $361.43B $605.35B
Commodity $302.85B $654.6M $620.4M ($4.19B) ($7.55B) $27.62B
Alternative $12.96B $4.1M $85.4M $242.5M $3.32B $5.21B
Multi-Asset $39.81B $27.6M $228.8M $720.4M $7.25B $12.24B
Currency $2.94B $2.4M $27.5M $10.3M $653.2M $340.6M
Non-Traditional $476.51B ($454.4M) $6.68B $17.18B $60.12B $90.79B
Digital Asset $92.77B $153.8M $192.0M ($2.09B) ($5.83B) $6.19B
Total $15,704.96B ($7.64B) $49.32B $135.48B $1,163.50B $2,027.82B

Category Flows (Top/Bottom 10)

Category AUM 1 Day Flow
Top 10 Leaders
Equity: Global Ex-U.S. Large Cap – Blend $1,126.61B $2.86B
Fixed Income: Taxable – Short-Term $168.10B $805.1M
Equity: Sector – Information Technology $476.51B $696.6M
Non-Traditional: Synthetic Income – Equity $192.14B $637.6M
Fixed Income: Taxable – Government Ultrashort $266.48B $625.8M
Non-Traditional: Leverage | Inverse – Equity $128.53B $615.1M
Equity: Emerging Large Cap $456.91B $597.3M
Commodity: Focused – Precious Metals $270.33B $578.8M
Fixed Income: Taxable – Core Enhanced $144.94B $422.0M
Fixed Income: Taxable – International USD $103.04B $360.1M
Bottom 10 Laggards
Equity: U.S. Large Cap – Growth $1,421.74B ($5.12B)
Equity: U.S. Large Cap – Blend $4,681.17B ($3.84B)
Equity: Thematic – Infrastructure $65.01B ($1.85B)
Equity: U.S. Small Cap – Blend $390.19B ($1.56B)
Non-Traditional: Buffer – Equity $94.45B ($1.49B)
Equity: U.S. Mid Cap – Blend $441.73B ($910.5M)
Equity: Sector – Financials $105.91B ($630.0M)
Equity: Sector – Health Care $105.54B ($519.9M)
Equity: U.S. Large Cap – Value $1,086.23B ($409.3M)
Fixed Income: Taxable – Corporate $181.70B ($397.3M)

U.S. Size & Style

U.S. equity style-box funds saw significant outflows, led by redemptions from the largest ETFs tracking major indexes. The Invesco QQQ Trust Series I (QQQ) shed ($5.67B), and the iShares Core S&P 500 ETF (IVV) lost ($3.36B). Small-caps also saw outflows, with the iShares Russell 2000 ETF (IWM) seeing ($1.34B) exit. Bucking the trend, the Vanguard Russell 1000 Growth ETF (VONG) added $510.2M, while the BNY Mellon US Mid Cap Core Equity ETF (BKMC) saw a $1.31B inflow (may be the result of a custom rebalance).

Ticker Name AUM 1 Day Flow
Top 5 Leaders
BKMC BNY Mellon US Mid Cap Core Equity ETF (may be the result of a custom rebalance) $1.96B $1.31B
VONG Vanguard Russell 1000 Growth ETF $43.77B $510.2M
SPYM State Street SPDR Portfolio S&P 500 ETF $160.78B $441.8M
VOO Vanguard S&P 500 ETF $985.51B $384.9M
VTI Vanguard Total Stock Market ETF $660.80B $359.3M
Top 5 Laggards
QQQ Invesco QQQ Trust Series I $460.24B ($5.67B)
IVV iShares Core S&P 500 ETF $876.96B ($3.36B)
FTCS First Trust Capital Strength ETF $7.79B ($1.38B)
IWM iShares Russell 2000 ETF $80.78B ($1.34B)
VO Vanguard Mid-Cap ETF $104.89B ($1.22B)

Explore the U.S. Size & Style Explorer →

Size & Style ex-U.S.

International equity funds were led by a substantial $2.55B inflow into the BNY Mellon International Equity ETF (BKIE), an event which may be the result of a custom rebalance. Emerging markets funds also saw demand, with the iShares Core MSCI Emerging Markets ETF (IEMG) adding $185.1M and the Vanguard FTSE Emerging Markets ETF (VWO) gaining $139.0M. Outflows were modest across the category, with the iShares MSCI EAFE Small-Cap ETF (SCZ) seeing the largest redemption at ($82.6M).

Ticker Name AUM 1 Day Flow
Top 5 Leaders
BKIE BNY Mellon International Equity ETF (may be the result of a custom rebalance) $3.82B $2.55B
IEMG iShares Core MSCI Emerging Markets ETF $149.52B $185.1M
VXUS Vanguard Total International Stock ETF $154.05B $176.0M
BKEM BNY Mellon Emerging Markets Equity ETF (may be the result of a custom rebalance) $247.9M $165.3M
VWO Vanguard FTSE Emerging Markets ETF $119.69B $139.0M
Top 5 Laggards
SCZ iShares MSCI EAFE Small-Cap ETF $13.16B ($82.6M)
CGXU Capital Group International Focus Equity ETF $6.13B ($37.1M)
DMXF iShares ESG Advanced MSCI EAFE ETF $1.16B ($33.2M)
AVDV Avantis International Small Cap Value ETF $18.57B ($30.8M)
TOUS T. Rowe Price International Equity ETF $1.54B ($28.5M)

Explore the Global (ex-U.S.) Size & Style Explorer →

Sector & Industry

The semiconductor industry was a clear standout, as the iShares Semiconductor ETF (SOXX) pulled in a massive $1.07B. Elsewhere, flows were mixed within the Health Care space; the State Street Health Care Select Sector SPDR ETF (XLV) gained $145.0M, while several biotech funds saw large redemptions. The State Street Financial Select Sector SPDR ETF (XLF) led sector outflows, shedding ($486.5M), followed by the First Trust NYSE Arca Biotechnology Index Fund (FBT) with a ($434.8M) loss.

Ticker Name AUM 1 Day Flow
Top 5 Leaders
SOXX iShares Semiconductor ETF $46.13B $1.07B
XLV State Street Health Care Select Sector SPDR ETF $41.99B $145.0M
IBB iShares Biotechnology ETF $9.51B $113.8M
VGT Vanguard Information Technology ETF $138.62B $51.6M
XOP State Street SPDR S&P Oil & Gas Exploration & Production ETF $3.33B $42.6M
Top 5 Laggards
XLF State Street Financial Select Sector SPDR ETF $56.81B ($486.5M)
FBT First Trust NYSE Arca Biotechnology Index Fund $2.81B ($434.8M)
XBI State Street SPDR S&P Biotech ETF $10.37B ($328.1M)
XLI State Street Industrial Select Sector SPDR ETF $33.28B ($206.4M)
IGV iShares Expanded Tech-Software Sector ETF $13.59B ($181.1M)

Explore the Sector & Industry Explorer →

Region & Country

Flows for country-specific ETFs showed divergent interest in China-focused funds. The Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) was the day’s top gainer in the category, adding $127.2M. Conversely, the iShares China Large-Cap ETF (FXI) experienced the largest outflow at ($97.4M). European country funds also saw some demand, with the iShares MSCI Spain ETF (EWP) collecting $48.6M.

Ticker Name AUM 1 Day Flow
Top 5 Leaders
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF $1.44B $127.2M
EWP iShares MSCI Spain ETF $2.01B $48.6M
EWI iShares MSCI Italy ETF $947.2M $13.5M
THD iShares MSCI Thailand ETF $369.8M $7.3M
SMIN iShares MSCI India Small Cap ETF $741.3M $6.9M
Top 5 Laggards
FXI iShares China Large-Cap ETF $4.12B ($97.4M)
KSA iShares MSCI Saudi Arabia ETF $622.2M ($22.2M)
ECH iShares MSCI Chile ETF $1.00B ($15.6M)
ARGT Global X MSCI Argentina ETF $831.7M ($3.7M)
VNM VanEck Vietnam ETF $516.5M ($3.5M)

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Thematic

A single fund dominated thematic flows, as the First Trust RBA American Industrial Renaissance ETF (AIRR) registered a substantial ($1.89B) outflow. This redemption accounted for the bulk of the ($1.85B) net outflow from the Infrastructure category. Other notable redemptions came from the Roundhill Magnificent Seven ETF (MAGS) with ($76.9M) and the ARK Innovation ETF (ARKK) with ($22.6M). Inflows were minimal by comparison, led by the iShares A.I. Innovation and Tech Active ETF (BAI) which added $18.8M.

Ticker Name AUM 1 Day Flow
Top 5 Leaders
BAI iShares A.I. Innovation and Tech Active ETF $12.89B $18.8M
MLPX Global X MLP & Energy Infrastructure ETF $3.68B $17.4M
FWD AB Disruptors ETF $2.95B $16.5M
ARKG ARK Genomic Revolution ETF $1.64B $15.9M
VOLT Tema Electrification ETF $749.3M $15.1M
Top 5 Laggards
AIRR First Trust RBA American Industrial Renaissance ETF $10.47B ($1.89B)
XME State Street SPDR S&P Metals & Mining ETF $3.92B ($98.4M)
MAGS Roundhill Magnificent Seven ETF $4.15B ($76.9M)
ICLN iShares Global Clean Energy ETF $2.43B ($31.3M)
ARKK ARK Innovation ETF $5.94B ($22.6M)

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Fixed Income

Short-duration strategies were favored, with the Vanguard Short-Term Bond ETF (BSV) leading all fixed income funds with $706.8M in new assets. The iShares 0-3 Month Treasury Bond ETF (SGOV) also saw strong demand, adding $377.1M. In contrast, longer-duration and corporate credit funds faced redemptions, as the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) shed ($580.6M). The iShares 20+ Year Treasury Bond ETF (TLT) also saw a significant outflow of ($363.2M).

Ticker Name AUM 1 Day Flow
Top 5 Leaders
BSV Vanguard Short-Term Bond ETF $45.40B $706.8M
SGOV iShares 0-3 Month Treasury Bond ETF $98.94B $377.1M
BNDX Vanguard Total International Bond ETF $82.61B $187.5M
IAGG iShares Core International Aggregate Bond ETF $10.82B $151.9M
IGOV iShares International Treasury Bond ETF $1.52B $136.8M
Top 5 Laggards
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF $34.70B ($580.6M)
TLT iShares 20+ Year Treasury Bond ETF $42.44B ($363.2M)
BIV Vanguard Intermediate-Term Bond ETF $29.01B ($274.0M)
IQMM ProShares GENIUS Money Market ETF $18.19B ($75.1M)
HYG iShares iBoxx $ High Yield Corporate Bond ETF $16.44B ($71.7M)

Explore the related Explorers: Taxable → · Municipal → · Specialty →

Commodity

Precious metals, specifically gold, drove inflows for the commodity asset class. The SPDR Gold Shares (GLD) was the dominant leader, attracting $586.5M for the session. The SPDR Gold Minishares Trust (GLDM) also saw a healthy inflow of $71.1M. Outflows were more modest and also concentrated in gold, with the iShares Gold Trust (IAU) seeing the largest redemption of ($60.1M).

Ticker Name AUM 1 Day Flow
Top 5 Leaders
GLD SPDR Gold Shares $128.89B $586.5M
GLDM SPDR Gold Minishares Trust of beneficial interest $27.16B $71.1M
UNG United States Natural Gas Fund LP $492.2M $25.2M
FTGC First Trust Global Tactical Commodity Strategy Fund $2.95B $18.7M
USO United States Oil Fund LP $2.24B $12.4M
Top 5 Laggards
IAU iShares Gold Trust $59.20B ($60.1M)
BAR GraniteShares Gold Shares $1.31B ($15.7M)
SLV iShares Silver Trust $26.75B ($15.0M)
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF $5.60B ($4.3M)
WEAT Teucrium Wheat Fund $306.9M ($1.3M)

Explore the Commodities Explorer →

Cryptocurrency

Digital asset ETFs saw net inflows of $153.8M, a positive session that contrasts with the category’s net outflows over the past month. The iShares Bitcoin Trust ETF (IBIT) led all crypto funds with a $136.5M creation. Spot ether products also gathered assets, with the iShares Ethereum Trust ETF (ETHA) adding $31.7M. Meanwhile, the futures-based ProShares Bitcoin ETF (BITO) saw redemptions of ($12.8M).

Ticker Name AUM 1 Day Flow
Top 5 Leaders
IBIT iShares Bitcoin Trust ETF $47.26B $136.5M
ETHA iShares Ethereum Trust ETF $5.22B $31.7M
FETH Fidelity Ethereum Fund ETF $894.3M $5.0M
BTF CoinShares Bitcoin and Ether ETF $13.7M $862.6K
NGHT Nicholas Bitcoin and Treasuries AfterDark ETF $25.2M $855.0K
Top 5 Laggards
BITO ProShares Bitcoin ETF $1.41B ($12.8M)
FBTC Fidelity Wise Origin Bitcoin Fund $11.01B ($4.2M)
BHYP Bitwise Hyperliquid ETF Common Shares of Beneficial Interest $122.7M ($3.4M)
THYP 21Shares Hyperliquid ETF $61.5M ($2.1M)
BTRN Global X Bitcoin Trend Strategy ETF $1.5M ($477)

Explore the Digital Assets Explorer →

Non-Traditional

Leveraged equity and synthetic income strategies were the most popular non-traditional products for the day. The Direxion Daily Semiconductor Bull 3X ETF (SOXL) attracted $563.1M in new capital, while the NEOS Nasdaq 100 High Income ETF (QQQI) brought in $359.9M. Outflows were heavily concentrated in the Buffer ETF category, led by the FT Vest U.S. Equity Buffer ETF – July (FJUL) with an ($834.8M) redemption (may be the result of a custom rebalance).

Ticker Name AUM 1 Day Flow
Top 5 Leaders
SOXL Direxion Daily Semiconductor Bull 3X ETF $19.56B $563.1M
QQQI NEOS Nasdaq 100 High Income ETF $13.38B $359.9M
TQQQ ProShares UltraPro QQQ $34.90B $182.4M
JEPQ JPMorgan NASDAQ Equity Premium Income ETF $39.48B $86.3M
QYLD Global X NASDAQ 100 Covered Call ETF $8.14B $54.8M
Top 5 Laggards
FJUL FT Vest U.S. Equity Buffer ETF – July (may be the result of a custom rebalance) $1.19B ($834.8M)
DJUL FT Vest U.S. Equity Deep Buffer ETF – July (may be the result of a custom rebalance) $412.6M ($327.0M)
GJUL FT Vest U.S. Equity Moderate Buffer ETF – July (may be the result of a custom rebalance) $368.8M ($259.7M)
SNXX Tradr 2X Long SNDK Daily ETF $1.99B ($58.5M)
SOXS Direxion Daily Semiconductor Bear 3X ETF $1.78B ($57.6M)

Explore the related Explorers: Buffer → · Synthetic Income → · Leverage | Inverse →

Recent Launches

Recent launches include a new suite of thematic ‘Supercycle’ ETFs from VistaShares, targeting the Defense (AMMO), Robotics (RTOO), and Space (GALX) industries. Texas Precious Metals Trust also entered the market with physically-backed gold (YSAU) and silver (YSAG) ETFs. Other notable additions include the XFUNDS Memory Income ETF (DRMY) and the T. Rowe Price Active Crypto ETF (TKNZ).

Ticker Name ETF Action Category Inception AUM
DRMY XFUNDS Memory Income ETF Equity: Thematic – Disruptive Tech 7/16/2026 $1.1M
AMMO VistaShares Defense Supercycle ETF Equity: U.S. Large Cap – Blend 7/15/2026 $982.7K
RTOO VistaShares Robotics Supercycle ETF Equity: Thematic – Industrial Revolution 7/15/2026 $948.6K
TKNZ T. Rowe Price Active Crypto ETF Equity: Global Large Cap – Blend 7/15/2026 $14.5M
GALX VistaShares Space Supercycle ETF Equity: Thematic – Industrial Revolution 7/15/2026 $936.4K
TMGN TappAlpha Cboe Magnificent 10 Growth & Daily Income ETF Equity: Thematic – Disruptive Tech 7/15/2026 $3.3M
YSAG Texas Precious Metals Trust Y'all Street Physical Silver ETF Commodity: Focused – Precious Metals 7/15/2026 $5.0M
SKHL Direxion Daily SK Hynix Bull 2X ETF Non-Traditional: Leverage | Inverse – Single Stock 7/15/2026 $600.0K
LUMA KraneShares Photonic and Optical ETF Equity: Thematic – Disruptive Tech 7/15/2026 $2.2M
YSAU Texas Precious Metals Trust Y'all Street Physical Gold ETF Commodity: Focused – Precious Metals 7/15/2026 $10.0M

Disclosures

This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.

Flow data is reported after close on a T+1 basis. This report’s data is as of July 20, 2026, and reflects create/redeem activity from Monday, July 20, 2026.

This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.

©2026 ETF Action, Inc. All Rights Reserved. Data provided by FactSet.