Large-Cap Blend Dominates Another $17.9B Flow Day

Vanguard and iShares again led the issuer table by a wide margin, pulling in $11.43B and $7.66B respectively on the day, extending 30-day hauls of $67.23B and $47.80B and YTD totals above $370B and $470B. Schwab, Fidelity, and JPMorgan posted more modest but positive single-day prints near $400-$431M, consistent with steady 30-day accumulation of $8.48B, $2.69B, and $8.59B. On the downside, SPDR recorded the largest absolute outflow at $2.34B despite a positive 5-day ($4.98B) and 30-day ($21.35B) trend, while Invesco shed $841.2M and Global X gave back $651.5M, deepening its negative 5-day ($862.1M) and 30-day ($535.8M) totals. Among smaller issuers, Abacus stood out on a relative basis with inflows equal to 35.71% of its $489.9M AUM, while Tweedy, Browne Co. saw outflows equal to 16.86% of its asset base.

Total flows across all asset classes reached $17.86B on the day, building on a $65.39B five-day total and $230.75B over the past month. Equity products drove the bulk of activity with $13.45B in net inflows, while Fixed Income added a further $4.01B, keeping both asset classes aligned with their strong YTD trajectories of $1,080.13B and $578.27B. Commodity ($142.1M) and Alternative ($4.0M) funds posted modest net outflows, a contrast to their positive YTD totals of $8.62B and $12.88B. At the category level, U.S. Large Cap – Blend led with $7.95B in inflows, followed by U.S. Small Cap – Blend ($1.55B) and U.S. Large Cap – Value ($1.46B), while U.S. Large Cap – Growth lagged with ($1.63B) in redemptions alongside Sector – Energy ($483.7M) and Thematic – Infrastructure ($282.8M).

The Vanguard S&P 500 ETF (VOO) topped U.S. size and style flows with $9.15B, followed by the iShares Core S&P 500 ETF (IVV) at $1.85B and the iShares Russell 2000 ETF (IWM) at $1.42B. On the outflow side, the State Street SPDR S&P 500 ETF (SPY) shed $5.40B and the Invesco QQQ Trust Series I (QQQ) lost $2.25B, the two largest redemptions in the category. Smaller factor-based outflows included the Global X Adaptive U.S. Factor ETF (AUSF) at $367.6M and the Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) at $366.8M.

International developed-market funds led ex-U.S. flows, with the Vanguard FTSE Developed Markets ETF (VEA) gathering $320.6M and the iShares Core MSCI EAFE ETF (IEFA) adding $293.7M. The iShares MSCI EAFE Growth ETF (EFG) and Avantis International Equity ETF (AVDE) also saw solid inflows of $142.9M and $108.6M. Outflows were comparatively small, led by the Invesco S&P Emerging Markets Momentum ETF (EEMO) at $27.6M and the Marketbeta INTL Equity ETF (GSID) at $22.5M, with the Tweedy, Browne International Insider + Value ETF (ICPY) rounding out the laggards at $15.3M.

Financials led sector flows via the State Street Financial Select Sector SPDR ETF (XLF) at $547.2M, closely followed by the iShares Semiconductor ETF (SOXX) at $536.9M and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) at $483.0M. The State Street SPDR S&P Regional Banking ETF (KRE) added $452.1M, consistent with the broader Sector – Financials category gain of $955.9M. On the downside, the State Street Energy Select Sector SPDR ETF (XLE) lost $314.4M and the State Street Communication Services Select Sector SPDR ETF (XLC) shed $204.7M, while the VanEck Semiconductor ETF (SMH) gave back $201.8M despite strength in SOXX.

Country and region flows were modest in scale, with the JPMorgan BetaBuilders Japan ETF (BBJP) leading at $67.7M, followed by the iShares MSCI Sweden ETF (EWD) at $40.3M and the iShares MSCI Australia ETF (EWA) at $35.6M. The iShares MSCI Brazil ETF (EWZ) posted the largest regional outflow at $85.6M, with the iShares MSCI Taiwan ETF (EWT) and iShares MSCI Singapore ETF (EWS) losing $39.2M and $32.1M respectively.

The Roundhill Magnificent Seven ETF (MAGS) led thematic flows with $94.2M, while the Invesco Solar ETF (TAN) added $73.3M and the State Street SPDR S&P Global Natural Resources ETF (GNR) gathered $52.0M. The largest outflow by far came from the Global X U.S. Infrastructure Development ETF (PAVE), which shed $253.7M, consistent with the broader Thematic – Infrastructure category’s ($282.8M) daily loss. Smaller redemptions came from the State Street SPDR S&P Metals & Mining ETF (XME) at $43.1M and the Global X MLP ETF (MLPA) at $29.9M.

Within Fixed Income’s $4.01B net inflow day, the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) led with $720.6M, followed by the Vanguard Tax-Exempt Bond ETF (VTEB) at $379.4M and the Vanguard Long-Term Corporate Bond ETF (VCLT) at $374.9M, aligning with the Municipal – Intermediate category’s $1.14B gain. On the outflow side, the State Street SPDR Portfolio Intermediate Term Corporate Bond Index ETF (SPIB) lost $202.3M and the iShares Core U.S. Aggregate Bond ETF (AGG) gave back $192.7M. The Longview Advantage Fixed Income ETF (LVIG) recorded a $107.8M redemption (may be the result of a custom rebalance).

Commodity funds saw a net outflow of $142.1M on the day, a reversal from the positive five-day trend of $275.6M. The SPDR Gold Minishares Trust of beneficial interest (GLDM) was the lone notable gainer at $31.9M, while smaller inflows came from the Neuberger Commodity Strategy ETF (NBCM) at $3.7M. Outflows were led by the abrdn Physical Silver Shares ETF (SIVR) at $42.0M, the United States Brent Oil Fund LP (BNO) at $36.0M, and the iShares Gold Trust (IAU) at $22.8M.

Digital Asset products posted a modest $129.2M net inflow on the day, contrasting with negative 5-day ($1.54B) and 30-day ($3.17B) trends. The Fidelity Wise Origin Bitcoin Fund (FBTC) led with $236.7M, followed by the iShares Ethereum Trust ETF (ETHA) at $32.8M and the ARK 21Shares Bitcoin ETF (ARKB) at $19.9M. The iShares Bitcoin Trust ETF (IBIT) offset much of that gain with a $201.2M outflow, while the iShares Staked Ethereum Trust ETF (ETHB) lost $22.4M.

Non-Traditional products added $394.0M overall, led by the Direxion Daily Semiconductor Bull 3X ETF (SOXL) at $1.26B and the MicroSectors Gold Miners 3X Leveraged ETN (GDXU) at $165.4M. Income-oriented strategies also gathered assets, including the JPMorgan NASDAQ Equity Premium Income ETF (JEPQ) at $74.2M and the Goldman Sachs S&P 500 Premium Income ETF (GPIX) at $69.9M. On the opposite side, the Direxion Daily Semiconductor Bear 3X ETF (SOXS) saw $758.3M in redemptions, and the Direxion Daily S&P 500 Bull 3X ETF (SPXL) lost $295.6M, with the JPMorgan Equity Premium Income ETF (JEPI) shedding $68.5M.

Recent launches were headlined by Columbia’s twin RECS buffer products, the Laddered Deep Buffer ETF (RECD) and Laddered Moderate Buffer ETF (RECM), both debuting 11/04/2026 with no reported assets yet. The Global X Magnificent Six ETF (SIX) entered the Thematic – Disruptive Tech category on 11/03/2026 with $1.0M in AUM, while VanEck’s EM Focus Inflation Bond ETF (EMIL) launched with $10.0M in the Taxable – Emerging fixed income space. Smaller debuts include THOR Conservative Risk Dynamic ETF (THCR) with $250.0K, the Buffered Bulldog ETF (ACJL) with $6.2M, and two Eventide equity funds, Dividend Growth ETF (ETDG) and Large Cap Focus ETF (ELCF), each launching with roughly $490-496K in assets.