Note: Flow data is reported after close on a T+1 basis. The flows in this report reflect create/redeem activity from Monday, September 22, 2025.
Market Flow Summary
The U.S. ETF market experienced net outflows of -$2.40B on the previous trading day. The top issuer by inflow was iShares, attracting +$3.29B. The individual fund with the largest inflow was iShares Core S&P 500 ETF (IVV), which brought in +$4.32B. Conversely, Vanguard saw the largest outflows at -$4.93B, and the Invesco QQQ Trust Series I (QQQ) had the most significant single-fund redemption of -$4.73B. The most notable high-velocity brand was Bushido, with inflows of +$103.70M representing +17.74% of its AUM.
Flow Summary by Asset Class
Fixed Income led all asset classes with +$2.95B in daily inflows, followed by Non-Traditional assets at +$999.09M. On a year-to-date basis, Equity continues to lead all asset classes with total inflows of +$458.45B.
| Asset Class | 1D Flow | 1M Flow | YTD Flow |
|---|---|---|---|
| Fixed Income | +$2.95B | +$39.96B | +$288.75B |
| Non-Traditional | +$999.09M | +$3.77B | +$50.84B |
| Commodity | +$235.67M | +$10.82B | +$36.40B |
| Alternative | +$19.30M | +$505.97M | +$3.68B |
| Multi-Asset | +$14.55M | +$733.35M | +$3.88B |
| Currency | -$18.94M | -$33.59M | +$520.34M |
| Digital Asset | -$416.33M | +$5.76B | +$34.98B |
| Equity | -$6.18B | +$69.15B | +$458.45B |
Top/Bottom Five Category Flows
U.S. Large Cap Blend Equity saw the largest inflows among all categories, while U.S. Large Cap Growth Equity experienced the most significant redemptions.
Top 5 Category Inflows
| Category | 1D Flow |
|---|---|
| Equity: U.S. Large Cap – Blend | +$3.02B |
| Fixed Income: Taxable – Corporate | +$568.01M |
| Fixed Income: Taxable – Government Ultrashort | +$567.85M |
| Fixed Income: Taxable – Core | +$494.88M |
| Fixed Income: Taxable – Government Intermediate | +$482.16M |
Bottom 5 Category Outflows
| Category | 1D Flow |
|---|---|
| Equity: U.S. Large Cap – Growth | -$5.98B |
| Equity: U.S. Small Cap – Blend | -$2.52B |
| Equity: Thematic – Multi-Sector | -$664.60M |
| Equity: U.S. Large Cap – Value | -$464.93M |
| Digital Asset: Cryptocurrency – Bitcoin | -$358.94M |
ETF Issuer Flow Analysis
iShares led all issuers with net inflows of +$3.29B (+0.09% of AUM). Vanguard recorded the largest outflows, shedding -$4.93B (-0.13% of AUM). Bushido was the top high-velocity brand, with inflows of +17.74% of its AUM.
Top 5 Brands by Inflows
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| iShares | $3,772.44B | +$3.29B | +0.09% |
| Dimensional | $225.57B | +$606.03M | +0.27% |
| T. Rowe Price | $19.58B | +$565.82M | +2.98% |
| PIMCO | $42.67B | +$559.54M | +1.33% |
| Schwab | $475.04B | +$355.63M | +0.07% |
Bottom 5 Brands by Outflows
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| Vanguard | $3,685.08B | -$4.93B | -0.13% |
| Invesco | $763.40B | -$4.30B | -0.56% |
| SPDR | $1,711.28B | -$934.20M | -0.05% |
| ARK | $15.90B | -$536.82M | -3.27% |
| Fidelity | $144.40B | -$196.20M | -0.14% |
High-Velocity Brands
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| Bushido | $688.35M | +$103.70M | +17.74% |
| Thrivent | $1.08B | +$104.70M | +10.71% |
| Scharf | $974.85M | +$67.29M | +7.41% |
| New York Life Investments | $5.34B | +$330.65M | +6.60% |
| Wedbush | $757.24M | +$37.11M | +5.15% |
| Summit Global Investments | $825.37M | -$56.40M | -6.40% |
Significant Single-Fund Movements
The day’s activity was highlighted by a +$4.32B inflow into iShares Core S&P 500 ETF (IVV) and a -$4.73B outflow from Invesco QQQ Trust Series I (QQQ).
Largest Absolute Daily Flows (Net Flows > $250M)
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| Inflows | |||
| iShares Core S&P 500 ETF (IVV) | $667.38B | +$4.32B | +0.65% |
| PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) | $1.46B | +$558.18M | +61.88% |
| iShares Russell 1000 ETF (IWB) | $44.12B | +$549.70M | +1.26% |
| T. Rowe Price Capital Appreciation Equity ETF (TCAF) | $6.22B | +$538.55M | +9.48% |
| Dimensional U.S. Equity Market ETF (DFUS) | $17.08B | +$489.37M | +2.95% |
| iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) | $31.33B | +$479.22M | +1.55% |
| Vanguard Intermediate-Term Treasury ETF (VGIT) | $33.61B | +$363.42M | +1.09% |
| NYLI Winslow Large Cap Growth ETF (IWLG) | $479.95M | +$322.15M | +204.15% |
| Invesco KBW Bank ETF (KBWB) | $5.39B | +$288.01M | +5.64% |
| Vanguard Total Bond Market ETF (BND) | $138.45B | +$222.81M | +0.16% |
| Outflows | |||
| Invesco QQQ Trust Series I (QQQ) | $384.38B | -$4.73B | -1.22% |
| iShares Russell 2000 ETF (IWM) | $69.21B | -$2.60B | -3.62% |
| Vanguard Growth ETF (VUG) | $199.03B | -$1.82B | -0.91% |
| Vanguard S&P 500 ETF (VOO) | $795.27B | -$1.73B | -0.22% |
| SPDR S&P 500 ETF Trust (SPY) | $661.10B | -$766.76M | -0.12% |
| Vanguard Value ETF (VTV) | $148.60B | -$434.14M | -0.29% |
| ARK Innovation ETF (ARKK) | $8.56B | -$414.80M | -4.62% |
| Vanguard Mid-Cap ETF (VO) | $89.54B | -$400.32M | -0.45% |
| iShares U.S. Thematic Rotation Active ETF (THRO) | $6.10B | -$318.05M | -4.95% |
| Vanguard Mega Cap Growth ETF (MGK) | $31.64B | -$304.26M | -0.95% |
High-Velocity Inflows (AUM > $100M, 1D Flow > +5% of AUM)
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| NYLI Winslow Large Cap Growth ETF (IWLG) | $479.95M | +$322.15M | +204.15% |
| FT Vest Buffered Allocation Growth ETF (BUFG) | $284.66M | +$130.42M | +84.55% |
| PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ) | $1.46B | +$558.18M | +61.88% |
| FT Vest Buffered Allocation Defensive ETF (BUFT) | $127.90M | +$37.42M | +41.35% |
| FT Vest U.S. Equity Moderate Buffer ETF – September (GSEP) | $256.34M | +$56.07M | +28.00% |
| Defiance Daily Target 2x Short IONQ ETF (IONZ) | $103.70M | +$18.97M | +22.39% |
| Bushido Capital US Equity ETF (SMRI) | $569.34M | +$103.70M | +22.27% |
| Schwab Core Bond ETF (SCCR) | $1.15B | +$196.61M | +20.71% |
| Thrivent Small-Mid Cap Equity ETF (TSME) | $657.04M | +$100.83M | +18.13% |
| BondBloxx BB-Rated USD High Yield Corporate Bond ETF (XBB) | $360.59M | +$42.36M | +13.31% |
High-Velocity Outflows (AUM > $100M, 1D Flow > -5% of AUM)
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| SPDR S&P Retail ETF (XRT) | $523.54M | -$125.65M | -19.35% |
| SGI Enhanced Core ETF (USDX) | $339.41M | -$54.78M | -13.90% |
| YieldMax MARA Option Income Strategy ETF (MARO) | $123.39M | -$12.73M | -9.35% |
| FT Vest U.S. Equity Enhance & Moderate Buffer ETF – September (XSEP) | $131.90M | -$10.03M | -7.07% |
| LeaderShares AlphaFactor US Core Equity ETF (LSAF) | $133.41M | -$10.03M | -6.99% |
| iShares U.S. Basic Materials ETF (IYM) | $529.71M | -$37.30M | -6.58% |
| Invesco KBW Property & Casualty Insurance ETF (KBWP) | $474.74M | -$28.93M | -5.74% |
| ARK Next Generation Internet ETF (ARKW) | $2.60B | -$146.90M | -5.35% |
Custom Analysis and Daily Data
This daily snapshot is just the beginning. Our full suite of tools allows for deep, customizable analysis of the entire ETF landscape. Institutional clients can track real-time flows, screen for specific fund characteristics, and analyze historical trends to gain a competitive edge. To explore our comprehensive data and analytics platform, please contact our sales team for a personalized demonstration.
Large Flow Activity Note: Daily create/redeem activity is a normal function of the ETF market. Large flows often reflect rebalancing activity by a single large institution and are not necessarily indicative of broad market sentiment.
Disclosures
This report is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. ETF Action is not a registered investment advisor.
All data is sourced from proprietary and third-party sources believed to be reliable, but its accuracy and completeness are not guaranteed. Past performance is not indicative of future results.
