The Daily Ledger: iShares Dominates as Energy Retreats

Issuer League Tables

iShares led absolute daily flows by gathering $6,232M, significantly augmenting its impressive $404.94B one-year accumulation. Vanguard followed closely with $4,354M in daily net positive flows, cementing its market position with $462.90B gathered over the trailing twelve months. Conversely, Direxion experienced the most severe absolute daily outflows, shedding $926M, which contributed to its trailing one-year decline of $16.53B. On a relative basis, Twin Oak and Bancreek generated the largest daily inflows as a percentage of their assets under management, expanding by 11.80% and 11.48% respectively. US Commodity Funds faced the sharpest relative contraction, losing 17.84% of its total assets under management in a single session.

Issuer Flows (Absolute)

Issuer Flows (Relative to AUM)

Daily ETF Flow Analysis

Equity ETFs captured the majority of daily market activity by adding $10,178M, pushing their year-to-date total to $272,680M. Fixed Income products also demonstrated strong demand with $7,360M in daily inflows, contributing to a robust $513,312M one-year total. The U.S. Large Cap Blend category emerged as the dominant destination for capital, attracting $5,060M in a single day. Meanwhile, Non-Traditional Leverage and Inverse Equity strategies suffered the heaviest daily redemptions, losing $1,115M. Commodity strategies focused on Energy also faced notable headwinds, shedding $748M daily against a broader one-year category inflow of $1,020M.

Asset Class Flows

Top / Bottom 10 Category Flows

U.S. Size & Style

Large Cap Blend funds absorbed the vast majority of U.S. equity allocations, as evidenced by VOO capturing $2,564M in daily inflows. SPYM and DIA followed suit, attracting $1,608M and $1,210M respectively. Conversely, SPY experienced the heaviest daily redemptions within the style, losing $721M. Small cap exposure also saw targeted reductions, with IWM shedding $412M during the session. These outflows contrast with the category’s broader positive momentum observed over the trailing one-year period.

Size & Style ex-U.S.

VT led international equity flows by securing $503M, supporting the global blend category’s sustained growth. SCHF demonstrated parallel strength with $417M in daily net positive flows. Emerging market allocations exhibited targeted demand, as EMXC gathered $159M. CGGO faced the steepest daily outflows in the international space, registering $45M in redemptions. ESG-focused international strategies also experienced modest pressure, with ESGD losing $39M.

Sector & Industry

Biotechnology strategies outpaced other sector funds, as XBI gathered an impressive $633M in daily inflows. Semiconductor exposure remained highly sought after, with SOXX and SMH securing $491M and $353M respectively. On the negative side, the energy sector faced broad redemptions, led by XLE shedding $374M. Consumer discretionary funds also recorded notable pressure, with XLY experiencing $280M in daily outflows. Software technology exposure contracted as well, evidenced by $247M exiting IGV.

Region & Country

Targeted country exposure favored Japan, with FLJP gathering $44M in daily inflows. Latin American and Canadian equities also saw mild positive momentum, as ILF and EWC added $27M and $22M respectively. Broad European allocations faced intense daily selling pressure, highlighted by VGK shedding $267M. FEZ and EZU compounded regional outflows, losing $190M and $108M. Indian equity strategies experienced localized redemptions, with INDA shedding $106M during the session.

Thematic

Internet and technology-focused thematic strategies led the segment, driven by FDN securing $130M. MAGS continued to attract concentrated mega-cap technology flows with a $53M daily addition. Agribusiness and infrastructure themes displayed steady demand, as MOO and AMLP gathered $47M and $43M respectively. Clean energy themes recorded modest daily redemptions, with PBW losing $11M. Homebuilder and technology opportunity themes also saw minor outflows, shedding $10M and $8M respectively.

Fixed Income

Ultrashort duration government strategies dominated fixed income activity, as SGOV amassed $2,023M in a single day. Corporate credit also generated substantial demand, with LQD absorbing $1,118M. BIL maintained the strong short-duration trend by adding $677M. Conversely, broad aggregate bond exposure faced heavy institutional selling, with AGG losing $564M. High yield corporate credit strategies similarly shed assets, led by JNK declining by $134M.

Commodity

Precious metals captured the entirety of positive commodity flows, led by IAU securing $361M. The micro-cap variant, IAUM, followed with an additional $47M in daily inflows. Broad commodity index strategies also registered mild demand, as GSG added $32M. Energy commodities experienced intense selling pressure, illustrated by USO hemorrhaging $699M in daily redemptions. BNO and CPER recorded corresponding outflows of $61M and $19M.

Cryptocurrency

Digital asset flows skewed negative, though BITO managed to capture $23M in daily inflows. ETHE and BTC demonstrated resilient, albeit muted, demand by securing $17M and $10M respectively. The broader cryptocurrency segment faced steep daily redemptions, primarily driven by IBIT shedding $87M. FBTC mirrored this downward trajectory with $79M in daily outflows. Ethereum-specific vehicles also contracted, as ETHA lost $32M during the session.

Non-Traditional

Inverse semiconductor strategies capitalized on daily market moves, with SOXS attracting $259M. Covered call and premium income strategies remained highly favored, as JEPQ and JEPI each gathered $130M. Conversely, leveraged semiconductor exposure faced severe liquidations, highlighted by SOXL losing a massive $1,070M. Leveraged broad market technology strategies also suffered, with TQQQ shedding $283M. Downside buffer strategies observed notable localized redemptions, as ZALT declined by $156M.

Recent Launches

The ETF landscape continues to expand rapidly, with unclassified and buffered strategies dominating the most recent market introductions. WSDB and TFGZ entered the market on April 1, 2026, gathering $1.88M and $2.43M in initial assets respectively. AllianzIM executed a concentrated rollout of multiple buffered equity products, including QBSV and QBQV, each securing approximately $5M out of the gate. SQLT also debuted successfully, establishing a $5.16M asset base on its first day of trading.