The Big Picture
Investors poured capital into the market this week, characterized by a historic asset gathering spree in U.S. sectors and large caps. While equity flows were massive, Fixed Income and Commodities also saw strong demand, particularly in bank loans and precious metals. Interestingly, despite a challenging performance week for cryptocurrencies, investor interest remained resilient with positive inflows. Conversely, the Leverage & Inverse channel saw a retreat in capital, marking a divergence from the broader “risk-on” flow sentiment.
1. Equity
- Size & Style (US)
The Narrative: The U.S. Size & Style channel continues to be a massive segment of the ETF universe, attracting significant capital for the week ending December 5, 2025, with $17.77 billion in net inflows.
Leaders/Laggards: Small Cap Value led performance (+0.95%), while Large Cap Value lagged (+0.21%). The VanEck Social Sentiment ETF (BUZZ) surged 4.04%.
The Flows: $17.77 Billion Net Inflows. - Size & Style (Global)
The Narrative: For the week, the channel pulled in $606 million in net inflows, pushing the Year-to-Date flow total to $17.84 billion.
Leaders/Laggards: Global Large Cap – Blend led (+0.48%), while Global Large Cap – Growth lagged (+0.19%). The City Different Investments Global Equity ETF (CDIG) gained 2.40%.
The Flows: $606 Million Net Inflows. - Size & Style (Global Ex-US)
The Narrative: The channel gathered $3.66B in net inflows over the last 5 days, contributing to a substantial year-to-date haul of $141.94B.
Leaders/Laggards: Equity: Emerging Large Cap took the top spot (+1.06%), while Equity: Emerging Small | Mid Cap lagged (-0.40%). The Pacific North of South EM Equity Active ETF (GEME) returned 2.53%.
The Flows: $3.66 Billion Net Inflows. - Region & Country
The Narrative: Activity remains positive, with the channel bringing in $130M in net flows over the past week.
Leaders/Laggards: Africa-Middle East led the way (+1.62%), while Americas lagged (-0.75%). The Franklin FTSE South Korea ETF (FLKR) returned 4.71%.
The Flows: $130 Million Net Inflows. - Sector & Industry
The Narrative: The Sector & Industry ETF channel experienced a historic week of asset gathering, pulling in a massive $174.58 billion in net inflows.
Leaders/Laggards: Oil & Gas Equipment & Services took the top spot (+5.23%), while Utilities lagged (-3.99%). The State Street SPDR S&P Oil & Gas Equipment & Services ETF (XES) gained 6.81%.
The Flows: $174.58 Billion Net Inflows. - Thematic
The Narrative: The channel gathered $1.49B in net inflows over the past 5 days, contributing to a year-to-date total of $44.33B.
Leaders/Laggards: Industrial Revolution led category performance (+2.68%), while FinTech was the primary laggard (-1.67%). The Roundhill Cannabis ETF (WEED) surged over 12%.
The Flows: $1.49 Billion Net Inflows. - Specialty
The Narrative: The channel experienced positive momentum this week, gathering $83 million in net inflows.
Leaders/Laggards: Equity: Specialty – Hedged led the way (+0.24%), while Equity: Specialty – Long | Short lagged (-0.18%). The Formidable Fortress ETF (KONG) gained 1.63%.
The Flows: $83 Million Net Inflows.
2. Fixed Income
- Taxable
The Narrative: For the week ending December 5, 2025, the channel pulled in $5.43 billion in net inflows, contributing to a robust year-to-date total of $353.7 billion.
Leaders/Laggards: Bank Loans took the top spot (+0.25%), while Government Long bonds were the primary laggard (-1.79%). The InfraCap REIT Preferred ETF (PFFR) returned 0.87%.
The Flows: $5.43 Billion Net Inflows. - Municipal
The Narrative: Over the past week, the channel gathered $580M in net inflows.
Leaders/Laggards: Short category led performance (+0.03%), while the Long category lagged (-0.32%). The Rareview Tax Advantaged Income ETF (RTAI) posted a gain of 0.72%.
The Flows: $580 Million Net Inflows. - Specialty
The Narrative: The channel saw solid positive momentum this week, gathering $347M in net inflows.
Leaders/Laggards: Fixed Income: Specialty – Interest Rate Volatility led (+0.65%), while Fixed Income: Specialty – Maturing Ladder lagged (-0.76%). The Simplify Interest Rate Hedge ETF (PFIX) returned 6.37%.
The Flows: $347 Million Net Inflows.
3. Commodities
- Commodities
The Narrative: The channel experienced strong demand, gathering approximately $1.87 billion in net inflows for the week, pushing the year-to-date total to over $49 billion.
Leaders/Laggards: Energy was the standout category (+2.91%), while Agriculture was the only significant laggard (-1.05%). The United States Natural Gas Fund LP (UNG) returned 9.09%.
The Flows: $1.87 Billion Net Inflows.
4. Currencies & Crypto
- Currency
The Narrative: The channel experienced positive momentum this week, gathering $63 million in net inflows over the past 5 days.
Leaders/Laggards: Long: AUD category led performance (+1.29%), while Short: Yen lagged significantly (-1.03%). The Invesco CurrencyShares Australian Dollar Trust (FXA) returned 1.29%.
The Flows: $63 Million Net Inflows. - Cryptocurrency
The Narrative: Despite a challenging performance week, investor interest remained resilient, with the channel gathering approximately $318 million in net inflows over the past five days.
Leaders/Laggards: Ethereum ETFs emerged as the relative leader (-0.74%), while Altcoin struggled significantly (-5.43%). The REX-Osprey ETH + Staking ETF (ESK) gained 1.76%.
The Flows: $318 Million Net Inflows.
5. Alternatives
- Alternatives
The Narrative: For the week ending December 5, 2025, the channel attracted $143 million in net inflows, a significant reversal from the $199 million in outflows seen over the trailing 30-day period.
Leaders/Laggards: “Volatility – Short” funds returned 1.89%, while “Volatility – Long” strategies dropped -4.69%. The Opportunistic Trader ETF (WZRD) delivered an 11.88% return.
The Flows: $143 Million Net Inflows.
6. Non-Traditional
- Leverage & Inverse
The Narrative: For the week ending December 5, 2025, the channel saw net outflows of ($525M), bringing year-to-date flows to $4.23B.
Leaders/Laggards: Equity: Thematic – Industrial Revolution gained 3.48%, while Equity: Sector – Utilities dropped -4.47%. The AdvisorShares MSOS Daily Leveraged ETF (MSOX) gained 22.07%.
The Flows: ($525 Million) Net Outflows. - Buffer
The Narrative: For the week, the category saw $281M in net inflows, pushing the year-to-date total to $13.4B.
Leaders/Laggards: Equity: Thematic – Multi-Sector led underlying returns (+1.28%), while Digital Asset: Cryptocurrency – Bitcoin lagged (-1.78%). The Innovator U.S. Equity Power Buffer ETF – December (PDEC) led flows with $65M.
The Flows: $281 Million Net Inflows. - Single Stock
The Narrative: Investors put $389 Million of net new capital to work this week, bringing the Year-To-Date inflow total to $17.7 Billion.
Leaders/Laggards: AST SpaceMobile skyrocketed (+31.53%), while Cleanspark fell -9.17%. The Tradr 2X Long ASTS Daily ETF (ASTX) surged 65.75%.
The Flows: $389 Million Net Inflows. - Synthetic Income
The Narrative: The channel attracted a net inflow of $1.23B for the past week, pushing Year-to-Date flows to $76.70B.
Leaders/Laggards: The Kurv Silver Enhanced Income ETF (KSLV) rallied 3.98%, while the Simplify Bitcoin Strategy PLUS Income ETF (MAXI) fell -4.04%.
The Flows: $1.23 Billion Net Inflows.
7. Multi-Asset
- Multi-Asset
The Narrative: The channel saw positive momentum over the past week, gathering $150M in net inflows.
Leaders/Laggards: Target Risk – Growth led performance (+0.33%), while Specialty – Alternative Asset Sleeve lagged (-0.73%). The Monarch Volume Factor Global Unconstrained Index ETF (MVFG) surged 2.73%.
The Flows: $150 Million Net Inflows.
