Growth and Fixed Income Drive $7.6B Total Market Influx

Issuer League Tables

Issuer flow activity on February 5, 2026, featured a notable disparity between absolute volume leaders and relative percentage gainers. BlackRock (iShares) led all issuers in absolute terms with $3,568M in net daily inflows, contributing to its $4,130.0B AUM base. Conversely, State Street (SPDR) experienced the most significant absolute outflows of $3,630M, which stands in contrast to its one-year inflow total of $85.51B. On a relative basis, Pathfinder saw the most aggressive expansion, with its $66M inflow representing a 33.50% increase in total assets for the day.

Issuer Flows (Absolute)

Issuer Flows (Relative)

Daily ETF Flow Analysis

The total net daily inflow for the U.S. ETF market reached $7,581M on February 5, 2026, primarily driven by strong demand in the Equity and Fixed Income asset classes. Equity ETFs secured $5,312M in new assets, while Fixed Income ETFs added $2,262M, maintaining a consistent growth trajectory with $61,406M in YTD flows. Commodity and Digital Asset classes faced headwinds, recording net daily outflows of $806M and $637M, respectively. The Equity: U.S. Large Cap – Growth category was the day’s primary driver at the sub-asset class level, generating $1,692M in flows.

Asset Class Flows

Top 10 Category Flows

Bottom 10 Category Flows

U.S. Size & Style

In the U.S. Size & Style segment, Large Cap Blend and Growth cohorts dominated investor activity, though results were mixed across primary tickers. The Vanguard S&P 500 ETF (VOO) secured $1,992M in net daily flows, contrasted sharply by a $3,293M outflow from the SPDR S&P 500 ETF Trust (SPY). Mid Cap and Small Cap segments saw more moderate activity, with the iShares Russell 2000 ETF (IWM) emerging as a leader with $1,107M in flows. Total net flows for U.S. Size & Style ETFs stood at $4,615M for the session.

Size & Style ex-U.S.

International equity flows were characterized by strength in emerging markets and broad international developed indices. The iShares Core MSCI International Developed Markets ETF (IDEV) led the group with $339M in net inflows, supported by Avantis International Small Cap Value ETF (AVDV) which added $111M. In contrast, several widely-held developed market ETFs faced selling pressure, with the Goldman Sachs ActiveBeta World Equity ETF (GSWO) shedding $445M. The ex-U.S. Size & Style segment collectively generated $836M in daily net flows.

Sector & Industry

Energy and Industrial sectors attracted the most concentrated daily interest, with Energy ETFs specifically adding $396M to their $57.6B AUM total. The iShares Expanded Tech-Software Sector ETF (IGV) was the standout leader with $683M in inflows, following a period of relative stability in software demand. Conversely, the Financials and Real Estate sectors faced broad outflows of $713M and $184M, respectively. The VanEck Semiconductor ETF (SMH) saw the most significant individual fund outflow within the segment, losing $611M.

Region & Country

The Asia-Pacific region emerged as the primary geographical focus for net inflows, capturing $375M of the $551M total daily region and country flows. Japan-focused products were particularly active, with the iShares MSCI Japan ETF (EWJ) adding $273M in assets for the day. Canada also saw positive momentum via the iShares MSCI Canada ETF (EWC), which generated $88M in flows. On the laggard side, the Franklin FTSE Taiwan ETF (FLTW) recorded $54M in net outflows.

Thematic

Thematic Equity ETFs experienced highly dispersed flow activity, with the Precious Metals and Natural Resources categories collectively adding $536M in assets. The VanEck Gold Miners ETF (GDX) was the segment leader, capturing $285M in daily flows, followed by the Global X Copper Miners ETF (COPX) at $123M. Conversely, Disruptive Tech and FinTech categories were the primary laggards, losing $55M and $82M, respectively. The Roundhill Magnificent Seven ETF (MAGS) saw the largest thematic outflow of $47M.

Fixed Income

The Fixed Income segment saw robust inflows concentrated in Corporate and Government sectors, which added $547M and $631M, respectively. The iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) led all fixed income funds with $594M in net inflows, while the iShares 0-3 Month Treasury Bond ETF (SGOV) followed with $387M. In contrast, emerging market bond exposure and municipal debt were segment laggards. The iShares JP Morgan USD Emerging Markets Bond ETF (EMB) recorded the session’s largest fixed income outflow of $250M.

Commodity

Commodity ETFs recorded net daily outflows of $806M, largely due to significant liquidations in the Precious Metals category, which shed $885M. The SPDR Gold Shares (GLD) and iShares Silver Trust (SLV) were the primary drivers of this trend, losing $642M and $357M, respectively. Multi-Sector commodities provided a partial offset with $90M in net daily inflows. The Simplify Chinese Commodities Strategy No K-1 ETF (CCOM) emerged as the segment leader with $75M in daily flows.

Cryptocurrency

Cryptocurrency ETFs experienced broad outflows of $637M, primarily concentrated in the Bitcoin category which saw $561M in redemptions. The iShares Bitcoin Trust ETF (IBIT) led the session laggards with $373M in outflows, while the Fidelity Wise Origin Bitcoin Fund (FBTC) shed $86M. Ethereum-focused products also faced selling pressure, recording $78M in net outflows. Individual fund leaders were limited to specialized Altcoin products, such as the Invesco Galaxy Ethereum ETF (QETH), which added a modest $4M.

Non-Traditional

Non-Traditional ETFs generated $1,345M in total net flows for the session, with activity concentrated in the Leverage | Inverse and Synthetic Income categories. The Direxion Daily Semiconductor Bull 3x Shares (SOXL) was the group leader with $682M in daily inflows, contributing significantly to the category total of $923M. Synthetic Income strategies also remained in favor, with JPMorgan’s NASDAQ Equity Premium Income ETF (JEPQ) adding $95M. Outflows within the segment were relatively contained, with the ProShares UltraShort Silver (ZSL) recording a $108M daily net redemption.

Recent Launches

The ETF industry continues to see active product development, with 331 launches recorded over the past three months. Recent debuts on February 4 and 3 include highly specialized offerings like the ProShares CoinDesk 20 Crypto ETF (KRYP) and the NEOS Boosted Bitcoin High Income ETF (XBCI). BNY Mellon has emerged as a significant player in the 2026 launch cycle, with its Municipal Opportunities ETF (BMOP) already accumulating $1,860M in assets. The industry remains focused on active strategies, which account for 75 of the 86 Year-To-Date launches.