Growth and Blend Equity Lead $17B Inflow Day

Issuer flows were led in absolute terms by Invesco, which pulled in $6.61B on the day and sits on a $81.73B YTD haul atop $1,020.98B in AUM, while SPDR followed with $5.05B and a much larger $126.36B YTD total reflecting its $2,080.73B asset base. Vanguard added $1.39B, a modest daily figure against its $4,707.79B AUM and $414.03B YTD intake, while DFA ($1.17B) and Direxion ($711.4M) rounded out the top five, with DFA’s 5-Day ($1.30B) and 30-Day ($1.68B) figures showing a steady cadence of demand. On the relative side, ERShares (15.03% of AUM), Alger (9.52%), and Leverage Shares (8.66%) stood out for outsized single-day activity against their smaller asset bases. Laggards included GraniteShares, which shed $789.6M (-6.20% of its $12.73B AUM) alongside a negative 30-Day ($175.7M) and YTD ($1.08B) trend, while iShares saw a modest $598.2M outflow despite a robust $333.59B YTD total, and Roundhill fell $320.1M, extending its negative 5-Day ($816.9M) and 30-Day ($716.7M) trajectory.

Total flows across all asset classes reached $17.12B on the day, building on a $62.64B 5-Day and $205.82B 30-Day pace that keeps the $1,633.62B YTD figure on track against $2,125.66B over the trailing year. Equity dominated with $15.69B of the day’s total, consistent with its $38.70B 1-Week and $104.59B 1-Month trend, while Fixed Income added $885.0M versus a much larger $21.96B 1-Week and $83.58B 1-Month pace. Non-Traditional products gathered $755.2M, while Commodity ($152.4M) and Digital Asset ($167.8M) categories posted outflows, the latter also showing a negative $1.28B 1-Week trend despite a positive $3.22B YTD. At the category level, U.S. Large Cap – Growth led with $7.25B and U.S. Large Cap – Blend followed with $6.31B, while U.S. Small Cap – Blend lagged with an $887.7M outflow and Sector – Financials gave back $486.3M.

U.S. size and style flows were headlined by the Invesco QQQ Trust Series I (QQQ) with $6.38B, followed by the State Street SPDR S&P 500 ETF (SPY) at $2.30B and the State Street SPDR Portfolio S&P 500 ETF (SPYM) at $1.90B, with the Vanguard S&P 500 ETF (VOO) adding $887.3M. On the outflow side, the iShares Russell 2000 ETF (IWM) shed $1.40B, by far the largest redemption in the category, while the iShares Russell 1000 Growth ETF (IWF) lost $82.6M and the Abacus FCF Real Assets Leaders ETF (ABLD) fell $69.5M (may be the result of a custom rebalance).

Ex-U.S. size and style flows were comparatively modest, led by the State Street SPDR Portfolio Developed World ex-US ETF (SPDW) with $198.8M and the Dimensional International Core Equity Market ETF (DFAI) with $115.5M, followed by the iShares International Country Rotation Active ETF (CORO) at $72.6M. On the downside, the First Trust Developed Markets ex-US AlphaDEX Fund (FDT) gave back $68.6M and the Invesco RAFI Emerging Markets ETF (PXH) lost $32.6M, with smaller redemptions rounding out the laggard list.

Sector flows favored defensives and technology, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) gathering $624.5M, consistent with the broader $625.1M inflow into the Sector – Consumer Staples category, while the First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) added $326.0M and the VanEck Semiconductor ETF (SMH) brought in $324.8M. Financials faced pressure, with the iShares MSCI Europe Financials ETF (EUFN) shedding $346.2M and the State Street Financial Select Sector SPDR ETF (XLF) losing $220.2M, aligning with the broader $486.3M Sector – Financials category outflow. The First Trust Nasdaq Transportation ETF (FTXR) also posted a $101.4M outflow (may be the result of a custom rebalance).

Regional and country flows were relatively light, led by the Franklin FTSE Taiwan ETF (FLTW) with $33.5M and the First Trust Japan AlphaDEX Fund (FJP) at $7.8M. On the outflow side, the iShares Currency Hedged MSCI Eurozone ETF (HEZU) led redemptions with $136.7M, consistent with the broader $157.5M Region – Eurozone category outflow, while the First Trust Eurozone AlphaDEX ETF (FEUZ) lost $12.6M.

Thematic flows were led by the ERShares Private-Public Crossover ETF (XOVR) with $234.2M and the Alger AI Enablers & Adopters ETF (ALAI) with $141.5M, followed by the First Trust NASDAQ Cybersecurity ETF (CIBR) at $64.7M. The Roundhill Memory ETF (DRAM) posted the largest thematic redemption at $258.7M, aligning with the broader $201.0M Disruptive Tech category outflow, while the Roundhill Magnificent Seven ETF (MAGS) lost $66.5M and the ARK Innovation ETF (ARKK) shed $52.8M.

Fixed Income gathered $885.0M on the day, a modest figure against its $21.96B 1-Week and $83.58B 1-Month pace, with the Schwab Intermediate-Term US Treasury ETF (SCHR) leading inflows at $213.5M and the iShares 0-3 Month Treasury Bond ETF (SGOV) close behind at $211.1M. The iShares 7-10 Year Treasury Bond ETF (IEF) added $160.9M and the Vanguard Intermediate-Term Corporate Bond ETF (VCIT) brought in $125.4M, while the Schwab US TIPS ETF (SCHP) led redemptions at $80.6M and the Vanguard Long-Term Corporate Bond ETF (VCLT) lost $41.2M.

Commodity flows were negative overall at ($152.4M), extending a ($766.2M) 1-Week trend though still positive at $8.90B YTD. The iShares Gold Trust Micro ETF of Benef Interest (IAUM) led inflows with $27.0M and the iShares Silver Trust (SLV) added $24.6M, while the SPDR Gold Shares (GLD) posted the largest outflow at $114.7M, aligning with the broader $115.5M Precious Metals category redemption, and the United States Natural Gas Fund LP (UNG) lost $57.8M.

Digital Asset flows were negative on the day at ($167.8M), consistent with a ($1.28B) 1-Week trend though still positive YTD at $3.22B. Smaller funds like the Bitwise NEAR ETF (NRR) added $4.0M and the Bitwise Chainlink ETF (CLNK) gathered $1.2M, while the larger funds drove the net outflow, led by the iShares Ethereum Trust ETF (ETHA) at $75.1M and the iShares Bitcoin Trust ETF (IBIT) at $65.4M, consistent with the Cryptocurrency – Ethereum ($85.4M) and Cryptocurrency – Bitcoin ($81.5M) category outflows.

Non-Traditional products gathered $755.2M on the day, continuing a $3.30B 1-Week and $9.00B 1-Month trend, led by the Direxion Daily Semiconductor Bull 3X ETF (SOXL) at $711.9M, consistent with the $864.2M Leverage | Inverse – Equity category inflow. The GraniteShares 2x Long NOW Daily ETF (NOWL) added $195.1M (may be the result of a custom rebalance) and the MicroSectors Gold Miners 3X Leveraged ETN (GDXU) gained $105.6M, while redemptions were led by the GraniteShares 2x Long NVDA Daily ETF (NVDL) at $491.4M and the GraniteShares 2x Long MU Daily ETF (MULL) at $263.8M, aligning with the Leverage | Inverse – Single Stock category outflow of $470.7M.

Recent launches have skewed toward income-oriented and alternative strategies, including the Tuttle Capital Photonics Income Blast ETF (OPTO) with $780.8K in assets and the XFUNDS Technology Income ETF (VGTX) at $504.3K, both in the Synthetic Income – Equity space. WisdomTree introduced two Specialty – Alternative Asset Sleeve products, the Efficient Long/Short U.S. SmallCap Equity Fund ETF (WSLS) and the Global Alpha Fund ETF (WTAL), each gathering $2.5M since inception, while Subversive launched a pair of redacted index-tracking funds, XXSP and XXQQ, with $2.5M and $495.1K respectively. Direxion’s U.S. 500 Plus ETF (SPXP) stands out with a larger $19.8M in assets since its 10/07 inception, and NEOS rounded out the group with the Silver High Income ETF (SLVI) at $2.0M in the commodity income category.