Health Care Surges as Tech Falters: Analyzing Today’s ETF Flow Reversals

Issuer League Tables

Vanguard led all issuers in absolute daily flows by accumulating $2,663M, substantially adding to its $50,677M one-month total. State Street followed with $1,426M in daily inflows despite seeing a broader one-month contraction of $7,346M overall. Direxion recorded the largest daily outflows at -$1,323M, heavily impacting its year-to-date trajectory which sits at -$11,624M. On a relative basis, Baron expanded its assets under management by 16.74% in a single day through $268M in net new assets. Conversely, FundX contracted the most relative to its size, shedding 9.65% of its total assets within the trading session.

Issuer Flows (Absolute)

Issuer Flows (Relative to AUM)

Daily ETF Flow Analysis

Fixed Income ETFs captured the majority of daily inflows with $3,778M, pushing the category’s one-month total to $57,843M. Equity funds added $1,508M for the day, expanding their year-to-date accumulation to a massive $474,625M. The Taxable Ultrashort category led sub-segment performance by drawing $827M in daily net flows. Non-Traditional funds lagged all asset classes with -$922M in daily outflows, despite maintaining a positive one-month trend of $8,730M. Leveraged and Inverse Equity strategies represented the primary drag on the broader market, surrendering $1,082M in daily assets.

Asset Class Flows

Top/Bottom 10 Category Flows

U.S. Size & Style

Large Cap Blend strategies dominated daily flows within the U.S. market, highlighted by the VOO product securing $922M. Value-oriented funds also demonstrated strength, with RONB pulling in $268M. Conversely, Large Cap Growth faced substantial headwinds as QQQ surrendered $1,292M over the session. The IVV portfolio similarly contracted, losing $1,161M despite its massive $830.8B asset base. Across the one-year horizon, U.S. Blend continues to lead overall accumulation with $383,905M in total inflows.

Size & Style ex-U.S.

International Value strategies attracted notable capital, led by AVIV registering $173M in daily net flows. Small Cap allocations displayed mixed results, with VSS adding $127M while DISV lost $99M. The broader Global Ex-U.S. Large Cap Blend category maintained its long-term dominance, showing $146,197M in one-year accumulation. Dividend-focused international funds faced mild daily pressure, evidenced by VIGI shedding $33M. Overall, international size and style ETFs collected $366M for the day, expanding the group’s one-month total to $13,103M.

Sector & Industry

Health Care ETFs dominated sector-level daily flows by gathering $324M, largely driven by a $607M single-day allocation into XLV. Information Technology experienced the most significant daily contraction, losing $222M primarily due to a $519M outflow from SMH. Despite the daily tech outflows, the sector maintains a commanding one-year accumulation record of $27,853M. Financials added $108M for the day, supported by a $228M inflow to XLF. The Materials sector struggled throughout the session, experiencing an aggregate daily decline of $181M across its constituent funds.

Region & Country

Taiwan-focused equities recorded the highest daily accumulation within regional strategies, as FLTW absorbed $37M. South Korean allocations faced significant downward pressure, highlighted by EWY shedding $232M during the trading session. Broader Latin American funds also contracted, losing $105M overall with EWZ contributing $80M to the decline. The total Region & Country category saw aggregate daily outflows of $330M, pulling the one-month trend to negative $2,763M. Despite short-term outflows, the category retains a positive year-to-date accumulation of $32,484M.

Thematic

Disruptive Tech strategies captured the largest portion of thematic inflows, gathering $451M daily and extending the segment’s year-to-date total to $16,049M. This category strength was heavily concentrated in the DRAM portfolio, which absorbed $296M individually. Multi-Sector thematic funds also demonstrated positive momentum, adding $144M over the session. Conversely, Evolving Consumer strategies encountered outflows of $81M, deepening their year-to-date decline to -$1,644M. Telecommunications represented the largest single-fund thematic drag, as IYZ surrendered $83M for the day.

Fixed Income

Multi-Sector fixed income funds led the asset class by accumulating $2,887M in daily net flows, contributing significantly to a one-month total of $26,383M. The BNDX product alone captured $514M, establishing it as the top individual fixed income gatherer for the session. Taxable Ultrashort duration strategies also drew heavy interest, collecting $1,080M overall. Government short-term instruments faced mild contraction, as the BIL portfolio recorded $171M in daily outflows. Over the trailing year, the fixed income asset class has amassed an impressive $548,260M in net new assets.

Commodity

Multi-Sector commodity products maintained positive daily momentum, accumulating $43M to bring their one-month total to $1,050M. The PDBC portfolio led individual fund performance by securing $16M in net inflows. Precious Metals experienced the steepest sector decline, shedding $108M for the day and extending a substantial $15,154M three-month outflow trend. The SLV product accounted for the bulk of these daily losses by surrendering $89M. In aggregate, the entire commodity category contracted by $46M over the daily reporting period.

Cryptocurrency

Altcoin strategies registered the only positive daily flows within the digital asset space, collecting $22M overall. The BHYP product led this specific sub-segment by gathering $11M in net new assets. Bitcoin-focused funds experienced broad contraction, surrendering $105M daily to deepen a $1,552M one-month outflow cycle. Specifically, the IBIT and FBTC portfolios shed $69M and $36M respectively. Overall cryptocurrency flows sit at a negative $654M across the trailing one-week period.

Non-Traditional

Synthetic Income strategies generated strong daily accumulation by adding $1,410M, led heavily by a $649M inflow to NVDL. Buffer Equity products also saw reliable asset gathering, capturing $108M over the single session. Conversely, Leveraged and Inverse strategies faced severe contraction, losing an aggregate $1,104M. This decline was primarily driven by SOXL, which surrendered $1,173M in a single day of trading. Despite significant daily volatility, Non-Traditional ETFs have accumulated $30,648M over the year-to-date period.

Recent Launches

The ETF marketplace welcomed ten new products during the latest reporting cycle, spanning multiple asset classes and strategies. Principal expanded its fixed income lineup with three new funds, including the WDE securitized debt offering. T-REX introduced two new leveraged single-stock products targeting ASTS and LITE equities. Sophus Capital launched a new unclassified emerging market small cap strategy under the EMSC ticker. PGIM also expanded its core equity suite by debuting the PJUS portfolio with $5.55M in initial assets.