U.S. ETFs Net $13.45 Billion as Equity and Non-Traditional Demand Surges

Issuer League Tables

The issuer landscape on January 15, 2026, was defined by significant absolute inflows for SPDR and First Trust, which led the market with $2.49B and $2.48B in daily activity, respectively. These figures align with strong 5-day trends, where SPDR has captured over $10.11B in net new assets. Conversely, Vanguard and iShares saw absolute outflows of ($332M) and ($165M), despite maintaining dominant one-year flow totals of $435.65B and $383.41B. On a relative basis, Sterling Capital emerged as a significant outlier, generating daily inflows equivalent to 11.12% of its total AUM.

Issuer Flows (Absolute)

Issuer Flows (Relative)

Daily ETF Flow Analysis

The total net inflow for the U.S. ETF market on January 15, 2026, reached $13.45B, driven predominantly by the Equity asset class which secured $7.23B in daily flows. Fixed Income and Non-Traditional asset classes also recorded substantial gains of $2.08B and $3.14B, respectively. Digital Assets followed with $1.06B, while Commodity ETFs experienced the largest decline with net outflows of ($141M). This daily total contributes to a robust 1-year aggregate inflow of $1.54T across all tracked asset classes.

Asset Class Flows

Top/Bottom 10 Category Flows

U.S. Size & Style

In the U.S. Size & Style segment, U.S. Large Cap Blend funds led with $1.64B in daily inflows, bolstered by high activity in SPY ($2.35B). Conversely, U.S. Large Cap Value saw substantial outflows of ($1.03B), with IVV leading laggards at ($2.43B). U.S. Small Cap Blend also faced negative pressure, shedding ($870M) during the period.

Size & Style ex-U.S.

The Emerging Large Cap category dominated international flows, attracting $1.59B on a daily basis. Leadership was concentrated in IEMG, which recorded $1.31B in net inflows. Global Ex-U.S. Large Cap Blend funds added $174M, while Global Ex-U.S. Large Cap Growth remains significantly lower in relative demand with only $26M in activity.

Sector & Industry

Financials led sector activity with $1.51B in net daily flows, primarily driven by XLF at $365M. The Information Technology sector followed with $565M in inflows, while Consumer Discretionary and Communication Services lagged with outflows of ($356M) and ($128M) respectively. Notably, IGV recorded the largest single sector outflow at ($152M).

Region & Country

Regional leadership was focused in Asia-Pacific, which captured $1.21B in net daily flows, with EWJ contributing $127M. Eurozone ETFs followed with $538M in daily inflows, led by VGK ($103M). Latin America also remained positive with $169M in flows, while North America-focused funds (ex-U.S. size/style) saw daily outflows of ($33M).

Thematic

Infrastructure led thematic equity demand with daily inflows of $799M, primarily through AIRR ($762M). Industrial Revolution strategies also maintained positive momentum with $95M in net flows. Conversely, Disruptive Tech and Precious Metals thematics saw outflows of ($37M) and ($23M) respectively, while MAGS led absolute thematic laggards with ($64M) in outflows.

Fixed Income

Fixed Income attracted $2.08B in net daily flows, with Intermediate duration products accounting for $1.64B of the total. Government-focused funds saw $760M in net inflows, while Corporate ETFs experienced daily outflows of ($349M). Individual leadership was driven by GOVT ($564M) and VCIT ($395M), while LQD faced heavy outflows of ($488M).

Commodity

The Commodity asset class reported net outflows of ($141M) on January 15, primarily driven by Precious Metals which lost ($230M) despite significant 1-year inflows of $53.96B. Energy and Industrial Metals provided minor offsets with inflows of $221M and $52M respectively. Individual fund leadership was observed in IAU ($95M) and GLD ($85M), while SLV experienced significant outflows of ($528M).

Cryptocurrency

Digital Asset inflows reached $1.06B for the day, with Bitcoin-focused funds capturing $850M of the total. IBIT remains the absolute leader in the space, generating $648M in daily flows and maintaining an AUM of $76.19B. Ethereum strategies added $175M, while Altcoin funds recorded $36M in activity, contrasting with 1-year flow totals which remain dominated by Bitcoin products at $23.91B.

Non-Traditional

Non-Traditional ETFs saw $3.14B in daily inflows, led by the Buffer category at $1.76B and Synthetic Income at $1.20B. FJAN led all non-traditional funds with $980M in daily inflows, while TQQQ faced the sharpest daily decline at ($126M). The segment continues to see heavy synthetic income demand, which has attracted $71.41B over the past year.

Recent Launches

The recent launch pipeline is highlighted by significant activity from BNY Mellon and Leverage Shares. BNY Mellon’s suite of municipal bond ETFs, including BMOP and BKMI, attracted immediate scale with $1.86B and $1.78B in AUM respectively. Additionally, specialized leveraged products such as LUNL and ONDG have begun to establish a footprint in the Non-Traditional category.