Equities Shed $27B While Fixed Income Gathers Assets

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Issuer League Tables

The U.S. ETF landscape now includes $13,306B in AUM across 4,850 products from 474 issuers. Invesco led 1-day flows, collecting $4,497M. Vanguard saw the largest 1-day outflows at -$27,156M, likely driven by significant rebalancing activity. JPMorgan also saw strong 1-day inflows of $4,413M, followed by iShares with $1,673M.

Brand 1-Day Flow 30-Day Flow YTD Flow 1-Year Flow
Inflows
Invesco $4,497M $12,810M $71.66B $68.78B
JPMorgan $4,413M $8,378M $69.95B $71.41B
iShares $1,673M $64,093M $352.27B $339.67B
Pacer $1,107M $1,032M ($8.10B) ($8.45B)
T-Rex $555M $588M $2.37B $2.36B
Outflows
Vanguard ($27,156M) $46,497M $390.04B $398.02B
First Trust ($4,494M) $1,720M $13.30B $12.84B
SPDR ($2,910M) $21,675M $86.80B $80.51B
FT Vest ($1,898M) $617M $7.24B $7.64B
Columbia ($542M) $355M $2.88B $2.90B

Daily ETF Flow Analysis

Total 1-day net flows for all U.S. listed ETFs amounted to -$26.21B. Fixed Income led all asset classes with $2.42B in new assets, followed by Commodity funds which gathered $296M. Equity saw the largest outflows, shedding -$27.27B, driven largely by significant redemptions in Large Cap Blend products.

Asset Class 1-Day Flow 1-Week Flow 1-Month Flow YTD Flow 1-Year Flow
Fixed Income $2,416M $8,840M $41,565M $424,096M $427,724M
Commodity $296M $1,942M $7,026M $53,196M $54,107M
Multi-Asset $71M $114M $717M $6,762M $7,099M
Alternative $6M $250M $461M $4,093M $3,867M
Currency ($7M) ($23M) ($29M) $541M $633M
Digital Asset ($218M) ($950M) $101M $36,767M $35,324M
Non-Traditional ($1,506M) $4,959M $9,519M $87,091M $91,028M
Equity ($27,266M) $63,276M $155,710M $817,881M $802,760M
Category 1-Day Flow AUM
Top 10 Categories
Equity: U.S. Large Cap – Growth $1,704M $1,253.97B
Equity: Global Ex-U.S. Large Cap – Blend $940M $919.15B
Equity: Global Large Cap – Value $525M $8.12B
Fixed Income: Taxable – Core $389M $379.58B
Fixed Income: Taxable – High Yield $342M $112.81B
Equity: Global Large Cap – Blend $327M $129.51B
Equity: Sector – Health Care $302M $96.51B
Non-Traditional: Synthetic Income – Equity $297M $147.51B
Fixed Income: Taxable – Multisector $290M $49.73B
Equity: Global Ex-U.S. Large Cap – Value $287M $114.62B
Bottom 10 Categories
Equity: U.S. Large Cap – Blend ($28,133M) $3,938.71B
Non-Traditional: Buffer – Equity ($2,378M) $78.85B
Equity: U.S. Large Cap – Value ($1,544M) $916.52B
Equity: U.S. Mid Cap – Value ($888M) $78.79B
Equity: Thematic – Disruptive Tech ($585M) $52.95B
Equity: U.S. Small Cap – Value ($292M) $100.11B
Equity: U.S. Small Cap – Blend ($272M) $330.06B
Fixed Income: Taxable – Corporate ($263M) $161.87B
Equity: Sector – Information Technology ($233M) $337.70B
Equity: U.S. Mid Cap – Blend ($226M) $369.78B

U.S. Size & Style

Within U.S. equities, Large Cap Growth funds managed to pull in $1.70B. However, U.S. Large Cap Blend funds saw massive outflows of -$28.13B. At the fund level, QQQ ($3.08B) and RSP ($709M) were the top flow leaders, while VOO (-$25.62B) and SPY (-$3.18B) saw the most significant redemptions.

Ticker Fund Name 1-Day Flow AUM
Top 5 Leaders
QQQ Invesco QQQ Trust Series I $3,077M $402.5B
RSP Invesco S&P 500 Equal Weight ETF $709M $75.8B
IJH iShares Core S&P Mid-Cap ETF $358M $102.3B
QQQM Invesco NASDAQ 100 ETF $266M $69.4B
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF $263M $2.7B
Top 5 Laggards
VOO Vanguard S&P 500 ETF ($25,621M) $809.3B
SPY SPDR S&P 500 ETF Trust ($3,180M) $690.3B
RDVY First Trust Rising Dividend Achievers ETF ($1,600M) $18.9B
VUG Vanguard Growth ETF ($1,549M) $202.0B
SDVY First Trust SMID Cap Rising Dividend Achievers ETF ($865M) $9.6B

Global Ex-U.S. Size & Style

Global Ex-U.S. funds saw net positive flows, led by the Global Ex-U.S. Large Cap Blend category which gathered $940M. Global Large Cap Value added $525M. Fund-level activity was topped by VXUS ($766M) and GCOW ($521M).

Ticker Fund Name 1-Day Flow AUM
Top 5 Leaders
VXUS Vanguard Total International Stock ETF $766M $116.0B
GCOW Pacer Global Cash Cows Dividend ETF $521M $3.2B
ICOW Pacer Developed Markets International Cash Cows 100 ETF $243M $1.7B
ACWI iShares MSCI ACWI ETF $168M $24.8B
CGGE Capital Group Global Equity ETF $83M $1.6B
Top 5 Laggards
APIE ActivePassive International Equity ETF ($20M) $1.0B
GKAT Scharf Global Opportunity ETF ($6M) $0.1B
TOGA Tremblant Global ETF ($3M) $0.2B
JDVI John Hancock Disciplined Value International Select ETF ($1M) $0.0B
RAYD Rayliant Quantitative Developed Market Equity ETF $0M $0.1B

Region & Country

Region-specific funds were mixed. Latin America led with $157M in 1-day flows, followed by the Eurozone at $75M. Asia-Pacific funds saw outflows of -$141M. At the fund level, EWZ ($90M) was the leader, while KWEB (-$153M) lagged.

Ticker Fund Name 1-Day Flow AUM
Top 5 Leaders
EWZ iShares MSCI Brazil ETF $90M $6.41B
ILF iShares Latin America 40 ETF $60M $2.43B
EZU iShares MSCI Eurozone ETF $57M $8.71B
EWC iShares MSCI Canada ETF $48M $3.73B
AIA iShares Asia 50 ETF $28M $1.55B
Top 5 Laggards
KWEB KraneShares CSI China Internet ETF ($153M) $8.66B
EWA iShares MSCI Australia ETF ($26M) $1.26B
CQQQ Invesco China Technology ETF ($13M) $2.85B
PGJ Invesco Golden Dragon China ETF ($2M) $0.13B
KURE KraneShares MSCI All China Health Care Index ETF $0M $0.08B

Sector & Industry

On a sector basis, Health Care led with $302M in 1-day flows, followed by Industrials at $161M. Information Technology saw the largest outflows at -$233M, followed by Financials ($151M). XLF ($188M) was the top fund-level leader, while TDIV (-$306M) was the top laggard.

Ticker Fund Name 1-Day Flow AUM
Top 5 Leaders
XLF State Street Financial Select Sector SPDR ETF $188M $52.9B
XBI State Street SPDR S&P Biotech ETF $183M $8.0B
SMH VanEck Semiconductor ETF $139M $38.1B
XLI State Street Industrial Select Sector SPDR ETF $100M $25.1B
XLV State Street Health Care Select Sector SPDR ETF $100M $39.9B
Top 5 Laggards
TDIV First Trust NASDAQ Technology Dividend Index Fund ($306M) $3.7B
XLK State Street Technology Select Sector SPDR ETF ($142M) $90.3B
XLC State Street Communication Services Select Sector S.. ($52M) $28.4B
KRE State Street SPDR S&P Regional Banking ETF ($41M) $4.1B
XLP State Street Consumer Staples Select Sector SPDR ETF ($32M) $15.0B

Thematic

Thematic funds were led by the Multi-Sector category ($177M). Disruptive Tech saw the largest outflows at -$585M. XOVR ($214M) and HACK ($207M) led fund-level inflows, while CIBR (-$988M) saw the largest redemptions.

Ticker Fund Name 1-Day Flow AUM
Top 5 Leaders
XOVR ERShares Private-Public Crossover ETF $214M $1.51B
HACK Amplify Cybersecurity ETF $207M $2.10B
QTUM Defiance Quantum ETF $201M $3.05B
GDX VanEck Gold Miners ETF $51M $25.75B
ITB iShares U.S. Home Construction ETF $40M $2.67B
Top 5 Laggards
CIBR First Trust NASDAQ Cybersecurity ETF ($988M) $10.92B
FDN First Trust Dow Jones Internet Index Fund ($134M) $6.66B
ARKK ARK Innovation ETF ($98M) $7.36B
RING iShares MSCI Global Gold Miners ETF ($51M) $2.89B
WTAI Wisdom Tree Artificial Intelligence and Innovation Fund ($49M) $0.42B

Fixed Income

Fixed Income funds saw net inflows. By type, Multi-Sector led with $1.15B, followed by Municipals ($450M). By duration, Intermediate duration funds gathered $1.49B. BND ($200M) and VCIT ($159M) were top individual fund leaders.

Ticker Fund Name 1-Day Flow AUM
Top 5 Leaders
BND Vanguard Total Bond Market ETF $200M $145.24B
VCIT Vanguard Intermediate-Term Corporate Bond ETF $159M $59.48B
SPHY State Street SPDR Portfolio High Yield Bond ETF $104M $10.26B
JBND JPMorgan Active Bond ETF $103M $5.37B
BIL State Street SPDR Bloomberg 1-3 Month T-Bill ETF $93M $42.89B
Top 5 Laggards
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF ($366M) $31.14B
SPIB State Street SPDR Portfolio Intermediate Term Corporate.. ($101M) $11.01B
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Exchang.. ($23M) $1.62B
CLIP Global X 1-3 Month T-Bill ETF ($12M) $2.05B
CPAG F/m Compoundr U.S. Aggregate Bond ETF ($11M) $0.01B

Commodity

Commodity funds experienced net inflows of $296M, driven by Precious Metals which gathered $266M. Carbon Credits also saw inflows of $57M. SLV ($102M) and IAU ($98M) led the pack.

Ticker Fund Name 1-Day Flow AUM
Top 5 Leaders
SLV iShares Silver Trust $102M $34.24B
IAU iShares Gold Trust $98M $68.51B
KRBN KraneShares Global Carbon Strategy ETF $57M $0.18B
IAUM iShares Gold Trust Micro ETF of Benef Interest $30M $6.23B
AAAU Goldman Sachs Physical Gold ETF $21M $2.54B
Top 5 Laggards
USO United States Oil Fund LP ($20M) $0.94B
UNG United States Natural Gas Fund LP ($13M) $0.55B
PDBC Invesco Optimum Yield Diversified Commodity Strategy N.. ($7M) $4.61B
COM Direxion Auspice Broad Commodity Strategy ETF ($3M) $0.17B
COMT iShares U.S. ETF Trust iShares GSCI Commodity Dynamic .. ($2M) $0.61B

Digital Assets

Digital Asset funds saw net outflows of -$218M. Bitcoin funds shed -$170M and Ethereum funds lost -$77M. However, IBIT ($33M) managed to gather assets, while FBTC (-$170M) drove outflows.

Ticker Fund Name 1-Day Flow AUM
Top 5 Leaders
IBIT iShares Bitcoin Trust ETF $33M $66.02B
EETH ProShares Ether ETF $20M $0.07B
GXRP Grayscale XRP Trust ETF $10M $0.21B
XRPZ Franklin XRP ETF $7M $0.18B
XRP Bitwise XRP ETF $4M $0.20B
Top 5 Laggards
FBTC Fidelity Wise Origin Bitcoin Fund ($170M) $17.21B
ETHA iShares Ethereum Trust ETF ($102M) $9.86B
ARKB ARK 21Shares Bitcoin ETF ($12M) $3.21B
BITB Bitwise Bitcoin ETF Trust ($12M) $3.32B
BITO ProShares Bitcoin ETF ($8M) $2.25B

Non-Traditional

Non-Traditional funds saw outflows of -$1.51B, largely driven by Buffer products which shed -$2.39B. Leverage/Inverse funds saw inflows of $544M. NVDX ($118M) led inflows, while FDEC (-$1.01B) saw the largest redemptions.

Ticker Fund Name 1-Day Flow AUM
Top 5 Leaders
NVDX T-Rex 2X Long NVIDIA Daily Target ETF $118M $0.53B
TSLT T-REX 2X Long Tesla Daily Target ETF $110M $0.38B
UPRO ProShares UltraPro S&P500 $102M $4.42B
TQQQ ProShares UltraPro QQQ $80M $27.97B
BOIL ProShares Ultra Bloomberg Natural Gas $72M $0.56B
Top 5 Laggards
FDEC FT Vest US Equity Buffer ETF – December ($1,013M) $1.13B
QDEC FT Vest Nasdaq-100 Buffer ETF – December ($372M) $0.52B
KJAN Innovator U.S. Small Cap Power Buffer ETF – January ($277M) $0.28B
DDEC FT Vest US Equity Deep Buffer ETF – December ($241M) $0.35B
GDEC FT Vest U.S. Equity Moderate Buffer ETF – December ($219M) $0.28B

Recent ETF Launches

The OBTC ETF from Osprey was the most recent fund to launch. The table below lists the 10 newest funds to market, including several new products from Leverage Shares. Click the header above to explore the full ETF database, where you can sort by inception date to see all new funds.

Day of Inception Ticker Fund Name Category AUM
12/19/2025 OBTC Osprey Bitcoin Trust Unclassified $164.3M
12/18/2025 BIDG Leverage Shares 2X Long BIDU Daily ETF Unclassified $0.4M
12/18/2025 CNCG Leverage Shares 2X Long CNC Daily ETF Unclassified $0.4M
12/18/2025 FFF Founders 100 ETF Unclassified $0.7M
12/18/2025 KLAG Leverage Shares 2x Long KLAC Daily ETF Unclassified $0.4M
12/18/2025 MLPI NEOS MLP & Energy Infrastructure High Income ETF Unclassified $0.0M
12/18/2025 NIOG Leverage Shares 2X Long NIO Daily ETF Unclassified $0.4M
12/18/2025 PBRG Leverage Shares 2X Long PBR Daily ETF Unclassified $0.4M
12/18/2025 SNAG Leverage Shares 2x Long SNAP Daily ETF Unclassified $0.4M
12/18/2025 TNUK Tortoise Nuclear Renaissance ETF Unclassified $0.5M

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 December 19, 2025, and reflects create/redeem activity from Thursday, December 18, 2025.

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.