Growth and Value Categories Lead a Robust Equity Day

Vanguard and iShares topped the absolute leaderboard with $12.38B and $11.54B in 1-day inflows, respectively, though their trend lines diverge sharply: Vanguard’s 30-Day haul of $105.59B and YTD figure of $441.69B dwarf iShares’ negative 30-Day tally of ($30.29B) despite iShares still posting a positive YTD of $231.62B. SPDR stood out as the largest single-day laggard among major issuers at ($7.58B), extending a negative 5-Day trend of ($2.52B) and a 30-Day figure of ($7.51B). Among non-mega issuers, Capital Group led absolute inflows with $761.2M, consistent with its 5-Day pace of $1.17B, while Simplify and Global X registered the largest outflows at ($135.7M) and ($111.1M). On a relative basis, ALPS gathered 5.54% of its AUM in a single day ($541.4M), followed by Leverage Shares at 3.86% ($86.5M), while Sophus saw the steepest percentage outflow at -57.42% ($38.4M) against a small $66.8M asset base.

Total flows across all asset classes reached $22.76B for the day, with Equity dominating at $18.40B, well above its 1-Week pace of $28.11B when spread across five sessions and tracking toward a YTD total of $889.83B. Fixed Income added $2.95B, a modest daily figure relative to its 30-Day accumulation of $55.21B, while Non-Traditional products gathered $1.54B, consistent with strong 1-Year demand of $106.07B. Digital Asset was the lone category with a meaningful outflow at ($583.7M), reversing some of its $5.61B 1-Month inflow figure, and Alternative products posted a small daily outflow of ($29.3M) despite a positive 1-Week trend of $615.7M. At the category level, Equity: U.S. Large Cap – Growth led with $4.13B and U.S. Large Cap – Value followed with $2.99B, while U.S. Large Cap – Blend saw the largest outflow at ($1.19B), alongside Digital Asset: Cryptocurrency – Bitcoin at ($449.2M).

The iShares Core S&P 500 ETF (IVV) led U.S. size and style inflows with $6.53B, followed by the Vanguard Morningstar Growth ETF (VUG) at $2.95B and the Vanguard Morningstar Mid-Cap ETF (VO) at $2.55B. On the outflow side, the State Street SPDR S&P 500 ETF (SPY) posted a substantial ($10.57B) redemption, far exceeding the modest outflow seen in the Vanguard S&P 500 ETF (VOO) of ($259.7M). The contrast between SPY’s large redemption and IVV’s sizable inflow highlights divergent single-day flows within the same broad large-cap blend category.

Ex-U.S. size and style flows were comparatively modest, led by the Dimensional International Value ETF (DFIV) at $72.4M and the Capital Group New Geography Equity ETF (CGNG) at $70.4M. On the outflow side, the Sophus Capital Emerging Market ETF (EMEM) shed ($25.6M), followed by the John Hancock Multifactor Emerging Markets ETF (JHEM) at ($15.9M). The magnitude of flows in this category remained well below the scale seen in domestic U.S. size and style products.

Sector flows were led by the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) at $615.2M and the iShares Semiconductor ETF (SOXX) at $598.5M, both consistent with the broader $1.68B inflow into the Information Technology sector category and $830.3M into Consumer Discretionary. On the outflow side, the State Street Health Care Select Sector SPDR ETF (XLV) lost ($150.9M) and the State Street SPDR S&P Biotech ETF (XBI) declined ($115.5M). These sector-level moves aligned with the Industrial category’s $1.27B inflow noted at the broader category level.

Regional flows were relatively light, led by the iShares MSCI Singapore ETF (EWS) at $33.0M and the JPMorgan BetaBuilders Japan ETF (BBJP) at $31.2M. The iShares MSCI South Korea ETF (EWY) recorded the largest regional outflow at ($195.4M), well above the Invesco China Technology ETF (CQQQ) at ($67.0M). This regional activity was consistent with the broader Country Specific category outflow of ($295.2M).

Thematic flows were led by the iShares U.S. Home Construction ETF (ITB) at $249.5M and the State Street SPDR S&P Homebuilders ETF (XHB) at $180.7M, both pointing to housing-related demand. On the outflow side, the VanEck Gold Miners ETF (GDX) declined by ($160.2M), aligning with the broader Precious Metals thematic category outflow of ($199.5M), while the Roundhill Memory ETF (DRAM) shed ($96.2M).

Fixed income inflows were led by the ALPS/SMITH Core Plus Bond ETF (SMTH) at $540.4M and the BNY Mellon Global Fixed Income ETF (BGFI) at $532.6M (may be the result of a custom rebalance), followed by the iShares 0-3 Month Treasury Bond ETF (SGOV) at $442.3M, consistent with the Government Ultrashort category’s $804.3M inflow. On the outflow side, the iShares Broad USD High Yield Corporate Bond ETF (USHY) declined ($323.0M), reflecting the broader High Yield category’s ($384.4M) outflow, while the Franklin International Aggregate Bond ETF (FLIA) shed ($284.7M) (may be the result of a custom rebalance). The Vanguard Long-Term Corporate Bond ETF (VCLT) also declined by ($105.9M), consistent with the Long-Term category’s ($152.1M) outflow.

Commodity flows were modest overall at $166.3M, led by SPDR Gold Shares (GLD) at $236.4M, well ahead of the Harbor Commodity All-Weather Strategy ETF (HGER) at $24.5M. On the outflow side, the iShares Silver Trust (SLV) lost ($79.9M) and abrdn Physical Platinum Shares ETF (PPLT) declined ($24.1M), together offsetting a portion of the gold-driven gains within the asset class.

Digital Asset flows were negative overall at ($583.7M) for the day, contrasting with the 1-Month figure of $5.61B. Leaders were modest, with the iShares Staked Ethereum Trust ETF (ETHB) gathering $12.4M and the Grayscale Zcash Trust (ZCSH) adding $9.0M. Outflows were led by the Fidelity Wise Origin Bitcoin Fund (FBTC) at ($214.8M) and the iShares Bitcoin Trust ETF (IBIT) at ($161.7M), consistent with the broader Bitcoin category outflow of ($449.2M), while the iShares Ethereum Trust ETF (ETHA) shed ($98.0M) alongside the Ethereum category’s ($141.5M) decline.

Non-Traditional products gathered $1.54B for the day, led by the ProShares UltraPro QQQ (TQQQ) at $481.9M and the Direxion Daily Semiconductor Bull 3X ETF (SOXL) at $240.1M, consistent with the Leverage | Inverse – Equity category’s $926.6M inflow. On the outflow side, the FT Vest International Equity Moderate Buffer ETF – September (YSEP) declined ($99.3M) (may be the result of a custom rebalance), while the AllianzIM U.S. Equity Buffer15 ETF (QBSF) shed ($60.7M).

Recent launches were dominated by smaller, unclassified products, including the Nuveen Impact Bond ETF (NUIB), which debuted with $30.0M in assets, notably larger than its peers. A cluster of Corgi structured buffer products launched around the same date with AUM near $1.0M each, spanning U.S. equities, small-caps, and international developed equities. Additional launches included the Lone Peak SMID Value ETF (LPSV) and the MarketDesk International Momentum ETF (XUSM), both starting with sub-$1M asset bases, alongside the Defiance Robotics Actuators ETF (AT) at $198.8K.