Vanguard Dominates with Over $10 Billion in Daily Inflows

Issuer League Tables

Vanguard led all issuers with a commanding $10.22B inflow, bolstering its year-to-date total to $328.66B. iShares also had a strong session, attracting $5.27B for a YTD total of $251.15B, while JPMorgan finished a distant third with $825.8M in new assets. On the other end of the spectrum, SPDR experienced the largest daily redemptions at ($4.28B), though its 30-day and YTD flows remain positive. Invesco followed with ($1.40B) in outflows, pushing its 30-day total into negative territory at ($2.05B).

Issuer Flows (Absolute)

Issuer Flows (Relative to AUM)

Daily ETF Flow Analysis

ETFs collected $15.17B in total net inflows, bringing the year-to-date sum to over $1.23 trillion. Equity funds were the primary driver of the day’s activity, pulling in $9.37B, while Fixed Income products added a substantial $4.52B. Other asset classes contributing positively included Commodity ($679.9M), Non-Traditional ($433.5M), and Digital Asset ($167.0M). Among categories, U.S. Large Cap Blend was the clear favorite with $5.67B in new assets, whereas U.S. Large Cap Growth saw the most significant redemptions, shedding ($1.59B).

Asset Class Flows

Category Flows (Top/Bottom 10)

U.S. Size & Style

U.S. equity funds saw a significant divergence as broad market and S&P 500 core funds gathered assets while popular trading vehicles saw outflows. The Vanguard Morningstar Total Stock Market ETF (VTI) led all funds with a massive $6.78B inflow, while the Vanguard S&P 500 ETF (VOO) and iShares Core S&P 500 ETF (IVV) added $1.67B and $1.64B, respectively. Conversely, the State Street SPDR S&P 500 ETF (SPY) and Invesco QQQ Trust Series I (QQQ) experienced the day’s largest redemptions at ($6.06B) and ($2.10B). Small caps also saw demand, with the iShares Russell 2000 ETF (IWM) collecting $666.6M.

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Size & Style ex-U.S.

International equity funds saw modest but broad-based inflows, led by the iShares Core MSCI Total International Stock ETF (IXUS) with $266.4M. The Horizon International Managed Risk ETF (SFTX) was a close second, adding $246.1M. Emerging markets also attracted capital, with the Vanguard FTSE Emerging Markets ETF (VWO) bringing in $119.1M. Outflows were concentrated in two JPMorgan funds, as the JPMorgan BetaBuilders International Equity ETF (BBIN) and JPMorgan International Research Enhanced Equity ETF (JIRE) shed ($143.6M) and ($79.7M), respectively.

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Sector & Industry

Sector fund flows were mixed, with Health Care and Consumer Discretionary attracting capital while Energy and Technology saw redemptions. The State Street Health Care Select Sector SPDR ETF (XLV) led inflows with $210.9M, followed by the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) which added $165.5M. On the other side of the ledger, the State Street Energy Select Sector SPDR ETF (XLE) posted the largest outflow of any sector fund at ($573.1M). The State Street Communication Services Select Sector SPDR ETF (XLC) and State Street Technology Select Sector SPDR ETF (XLK) also saw significant outflows of ($333.9M) and ($204.8M).

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Region & Country

Activity in country and region-specific funds was relatively light, with a slight tilt toward Asian exposures. The iShares Asia 50 ETF (AIA) led the category with a modest $53.8M inflow. Following were the Invesco China Technology ETF (CQQQ) and Franklin FTSE Taiwan ETF (FLTW), which added $30.2M and $28.3M, respectively. The largest redemption came from the iShares MSCI Germany ETF (EWG), which saw outflows of ($39.0M).

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Thematic

Thematic funds saw concentrated interest in energy infrastructure and internet-related strategies. The Alerian MLP ETF (AMLP) was the standout leader, pulling in $284.4M. The First Trust Dow Jones Internet Index Fund (FDN) also saw strong demand, adding $169.7M. Conversely, redemptions were focused on AI and clean energy themes, with the iShares A.I. Innovation and Tech Active ETF (BAI) shedding ($90.9M) and the iShares Global Clean Energy ETF (ICLN) losing ($86.7M).

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Fixed Income

Fixed income flows were heavily concentrated in the front end of the Treasury curve, with ultrashort government funds seeing the strongest demand. The iShares 0-3 Month Treasury Bond ETF (SGOV) led all fixed income funds with a $1.29B inflow, while the State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) added $317.2M. High yield also saw notable interest, as the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) collected $340.4M. Outflows were seen in longer-duration and corporate credit, with the iShares 20+ Year Treasury Bond ETF (TLT) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT) shedding ($230.1M) and ($227.1M), respectively.

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Commodity

Commodity funds added a net $680M, with precious metals leading the way. The SPDR Gold Shares (GLD) was the primary recipient, attracting $443.4M in new assets. Other gold products also saw inflows, including the iShares Gold Trust Micro ETF of Benef Interest (IAUM) with $124.4M and the United States Oil Fund LP (USO) with $61.2M. The only significant outflow in the space came from the iShares Gold Trust (IAU), which registered a ($60.6M) redemption.

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Cryptocurrency

Digital asset funds brought in a net $167.0M, with flows concentrated in Bitcoin products. The iShares Bitcoin Trust ETF (IBIT) led the category with a $111.4M inflow. The Fidelity Wise Origin Bitcoin Fund (FBTC) also saw positive demand, adding $33.4M. Outflows were minor and focused on Ethereum-based products, with the iShares Ethereum Trust ETF (ETHA) and Grayscale Ethereum Staking ETF (ETHE) seeing redemptions of ($9.0M) and ($7.8M).

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Non-Traditional

Activity in non-traditional funds was led by synthetic income strategies, with the JPMorgan NASDAQ Equity Premium Income ETF (JEPQ) pulling in $471.3M. In the leveraged and inverse space, the ProShares UltraPro Short QQQ (SQQQ) attracted $178.2M. Conversely, its long counterpart, the ProShares UltraPro QQQ (TQQQ), experienced the category’s largest outflow at ($231.1M). The ProShares Short QQQ (PSQ) also saw redemptions of ($98.9M).

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Recent Launches

Innovator launched two new buffer ETFs, the Innovator Equity Dual Directional 10 Buffer ETF (DDTG) and the Innovator Equity Dual Directional 15 Buffer ETF (DDFG). Among funds launched in late July, the JPMorgan U.S. Large Cap Value Plus ETF (JLVP) has been quick to gather assets, reaching $25.6M in AUM. Other recent debuts include a pair of single-stock synthetic income funds from Direxion and a trio of actively managed fixed income funds from Aristotle.