Note: Flow data is reported after close on a T+1 basis. The flows in this report reflect create/redeem activity from Thursday, September 4, 2025.
Market Flow Summary
The U.S. ETF market recorded a total net inflow of $921.98M. Vanguard led all issuers with $2.34B in inflows. The top individual fund for the day was Vanguard S&P 500 ETF (VOO), which attracted $1.82B. On the other side, SPDR experienced the largest outflows at -$1.99B, and SPDR S&P 500 ETF Trust (SPY) saw the largest single-fund outflow of -$4.12B. The most notable high-velocity brand was iPath, with flows representing 11.52% of its AUM.
Flow Summary by Asset Class
Fixed Income ETFs were the clear leaders in daily flows, attracting over $2.2 billion. This was followed by Commodity funds. Despite recent outflows, Equity remains the dominant asset class year-to-date.
| Asset Class | 1D Flow | 1M Flow | YTD Flow |
|---|---|---|---|
| Fixed Income | $2.27B | $47.49B | $266.68B |
| Commodity | $271.78M | $7.06B | $30.95B |
| Alternative | $146.27M | $936.73M | $3.36B |
| Multi-Asset | $38.90M | $838.05M | $3.40B |
| Currency | -$2.76M | -$118.91M | $532.64M |
| Non-Traditional | -$295.44M | $3.00B | $49.91B |
| Digital Asset | -$383.83M | $5.45B | $31.18B |
| Equity | -$1.14B | $70.00B | $416.10B |
Top/Bottom Five Category Flows
The top categories were dominated by fixed income, particularly government ultrashort bonds. In contrast, U.S. large-cap equity categories, including blend and growth, experienced the most significant outflows.
| Category | 1D Flow |
|---|---|
| Fixed Income: Taxable – Government Ultrashort | $732.70M |
| Equity: U.S. Mid Cap – Growth | $616.83M |
| Equity: U.S. Large Cap – Value | $462.01M |
| Fixed Income: Taxable – High Yield | $377.38M |
| Equity: Sector – Financials | $365.04M |
| Category | 1D Flow |
|---|---|
| Equity: U.S. Large Cap – Blend | -$2.30B |
| Equity: U.S. Large Cap – Growth | -$1.41B |
| Equity: Sector – Information Technology | -$623.45M |
| Non-Traditional: Leverage | Inverse – Equity | -$347.92M |
| Digital Asset: Cryptocurrency – Bitcoin | -$218.40M |
ETF Issuer Flow Analysis
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| Vanguard | $3.55T | $2.34B | 0.07% |
| iShares | $3.68T | $688.31M | 0.02% |
| Dimensional | $218.62B | $349.02M | 0.16% |
| JPMorgan | $243.00B | $260.03M | 0.11% |
| Schwab | $464.75B | $200.34M | 0.04% |
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| SPDR | $1.68T | -$1.99B | -0.12% |
| Invesco | $733.87B | -$1.06B | -0.14% |
| Fidelity | $137.64B | -$341.07M | -0.25% |
| ProShares | $86.46B | -$229.02M | -0.26% |
| Direxion | $52.10B | -$193.25M | -0.37% |
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| iPath | $1.66B | $171.28M | 11.52% |
Significant Single-Fund Movements
At the individual fund level, the most significant movements were seen in two of the largest S&P 500 ETFs, which experienced opposing flows. The Vanguard S&P 500 ETF (VOO) attracted the largest inflow of the day, while the SPDR S&P 500 ETF Trust (SPY) recorded the largest outflow. High-velocity movements were concentrated in more tactical or thematic funds, indicating notable activity in niche market segments.
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| Vanguard S&P 500 ETF (VOO) | $744.29B | $1.82B | 0.24% |
| iShares 0-3 Month Treasury Bond ETF (SGOV) | $57.16B | $381.56M | 0.67% |
| Financial Select Sector SPDR Fund (XLF) | $55.21B | $375.66M | 0.69% |
| Consumer Discretionary Select Sector SPDR Fund (XLY) | $24.14B | $352.74M | 1.48% |
| iShares iBoxx $ High Yield Corporate Bond ETF (HYG) | $18.13B | $290.14M | 1.63% |
| iShares Gold Trust (IAU) | $52.44B | $237.28M | 0.45% |
| SPDR SSGA U.S. Sector Rotation ETF (XLSR) | $1.00B | $188.48M | 23.20% |
| iShares Russell Mid-Cap Growth ETF (IWP) | $20.55B | $178.40M | 0.88% |
| SPDR Portfolio S&P 500 ETF (SPLG) | $84.84B | $175.65M | 0.21% |
| iShares Morningstar Mid-Cap Growth ETF (IMCG) | $3.07B | $172.07M | 5.93% |
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| SPDR S&P 500 ETF Trust (SPY) | $657.15B | -$4.12B | -0.62% |
| Invesco QQQ Trust Series I (QQQ) | $364.06B | -$1.35B | -0.37% |
| iShares Expanded Tech-Software Sector ETF (IGV) | $9.07B | -$727.24M | -7.42% |
| iShares Core S&P 500 ETF (IVV) | $665.90B | -$554.45M | -0.08% |
| Vanguard Intermediate-Term Corporate Bond ETF (VCIT) | $56.96B | -$250.62M | -0.44% |
| Fidelity Ethereum Fund ETF (FETH) | $3.11B | -$216.68M | -6.52% |
| iShares 20+ Year Treasury Bond ETF (TLT) | $47.88B | -$174.35M | -0.36% |
| Main BuyWrite ETF (BUYW) | $822.92M | -$167.04M | -16.87% |
| ProShares UltraPro S&P500 (UPRO) | $4.41B | -$165.46M | -3.62% |
| ProShares UltraPro QQQ (TQQQ) | $26.15B | -$164.92M | -0.63% |
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| SPDR SSGA U.S. Sector Rotation ETF (XLSR) | $1.00B | $188.48M | 23.20% |
| iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) | $1.00B | $170.42M | 20.52% |
| Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) | $1.28B | $124.36M | 10.74% |
| iShares Morningstar Mid-Cap Growth ETF (IMCG) | $3.07B | $172.07M | 5.93% |
| SPDR Portfolio Corporate Bond ETF (SPBO) | $1.74B | $61.61M | 3.66% |
| SPDR S&P Oil & Gas Exploration & Production ETF (XOP) | $1.87B | $66.15M | 3.66% |
| NEOS Nasdaq 100 High Income ETF (QQQI) | $4.41B | $119.53M | 2.79% |
| ProShares UltraPro Short QQQ (SQQQ) | $3.00B | $75.18M | 2.57% |
| Invesco S&P MidCap Momentum ETF (XMMO) | $4.47B | $105.14M | 2.41% |
| Invesco S&P MidCap Quality ETF (XMHQ) | $5.19B | $104.78M | 2.06% |
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| Main BuyWrite ETF (BUYW) | $822.92M | -$167.04M | -16.87% |
| iShares Expanded Tech-Software Sector ETF (IGV) | $9.07B | -$727.24M | -7.42% |
| Fidelity Ethereum Fund ETF (FETH) | $3.11B | -$216.68M | -6.52% |
| ProShares UltraPro S&P500 (UPRO) | $4.41B | -$165.46M | -3.62% |
| 2x Ether ETF (ETHU) | $2.36B | -$69.19M | -2.85% |
| ARK 21Shares Bitcoin ETF (ARKB) | $4.65B | -$125.49M | -2.63% |
| Fidelity Enhanced Large Cap Growth ETF (FELG) | $4.26B | -$66.95M | -1.55% |
| Bitwise Bitcoin ETF Trust (BITB) | $4.44B | -$66.37M | -1.47% |
| Vanguard Long-Term Bond ETF (BLV) | $5.55B | -$76.34M | -1.36% |
| Direxion Daily 20+ Year Treasury Bull 3X Shares (TMF) | $5.02B | –$55.35M | -1.09% |
Custom Analysis and Daily Data
The data summaries presented in this report were generated using the powerful dashboarding capabilities of the ETF Action Navigator tool. Our comprehensive platform allows for in-depth analysis of ETF flows, performance, and characteristics. For customized reports or to explore our data further, please visit our website or contact our sales team.
Large Flow Activity: Significant single-day inflows or outflows may not always represent typical market sentiment. These can be influenced by various factors, including institutional rebalancing, model portfolio adjustments, or specific corporate actions. It is advisable to consider broader trends over longer periods for a more complete picture.
Disclosures
This material is for informational purposes only and should not be construed as investment advice. The data is provided ‘as is’ without any warranties, express or implied. ETF Action is not responsible for any errors or omissions, or for the results obtained from the use of this information. Past performance is not indicative of future results.
This analysis was developed by the team at ETF Action. Reproduction or redistribution of this report, in whole or in part, without prior written permission from ETF Action is prohibited.
