S&P 500 Heavyweights Command the Tape: VOO and RSP Lead a $9.6B Flow Day

Issuer League Tables

The top absolute flow leaders were dominated by established providers, with Vanguard gathering $3,362M and iShares capturing $1,256M in daily net inflows. In comparison, Portfolio Building Block led relative flows by adding 83.08% to its asset base, far outpacing its $898M year-to-date accumulation metric. Conversely, Direxion registered the largest absolute daily outflow at ($177M), contributing to a broader one-year trend of net asset reductions totaling ($17.28B). Relative laggards included Stacked and Wedbush, which shed 11.83% and 8.88% of their respective assets under management during the single trading session. This dichotomy between massive passive allocators and highly concentrated thematic managers illustrates structural variations in daily liquidity events across the issuer landscape.

Issuer Flows (Absolute)

Issuer Flows (Relative)

Daily ETF Flow Analysis

Aggregate ETF flows for the session totaled $9,671M, heavily concentrated within the Equity asset class which brought in $7,371M, building upon its $104,129M one-month accumulation. Fixed Income also registered robust single-day creations of $2,749M, contrasting sharply with the Commodity segment’s daily destruction of ($585M). At the specific category level, U.S. Large Cap – Blend ETFs generated $4,321M in daily volume, whereas U.S. Large Cap – Growth products experienced the most severe daily outflows of ($802M). Over a longer one-year horizon, U.S. Large Cap – Blend remains the dominant classification with $359,353M in net assets gathered across its aggregate constituency.

Asset Class Flows

Top/Bottom 10 Category Flows

U.S. Size & Style

The U.S. Size & Style segment was led by broad market products, with the Vanguard S&P 500 ETF (VOO) taking in $1,417M in a single day. The Invesco S&P 500 Equal Weight ETF (RSP) followed closely with $1,178M, significantly bolstering its $87.2B total asset base relative to short-term averages. Conversely, the Invesco QQQ Trust (QQQ) and its counterpart QQQM saw combined daily outflows exceeding ($942M), contrasting their heavily positive one-year accumulation trends. Large Cap Value offerings broadly outpaced Growth, as indicated by the $1,053M net flow into Value versus the ($802M) outflow from Growth categories.

Size & Style ex-U.S.

International asset flows demonstrated targeted regional allocations, spearheaded by the Vanguard FTSE Emerging Markets ETF (VWO) with $348M in daily creations. The Vanguard International High Dividend Yield ETF (VYMI) supplemented these totals by bringing in $169M, aligning with the broader Global Ex-U.S. Large Cap – Value category’s positive $398M daily print. The lower end of the daily flow spectrum was stagnant, with products like the Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) recording flat $0M prints for the session. Broadly, the Global Ex-U.S. Large Cap – Blend category has secured $130,224M over the past year, far outpacing the $24,346M captured by the corresponding Value segment.

Sector & Industry

The Information Technology sector aggregated $513M in daily inflows, propelled largely by the VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX), which garnered $285M and $265M respectively. In contrast, the Financials sector contracted by ($791M), with the State Street Financial Select Sector SPDR ETF (XLF) accounting for ($491M) of those daily redemptions. Industrial products also demonstrated strength with $418M in net daily additions, adding to a solid $12,504M one-year trend. The Health Care sector diverged negatively, shedding ($256M) daily, led by the iShares Global Healthcare ETF (IXJ) which lost ($288M) from its $4.3B asset base.

Region & Country

Country-specific ETF flows were heavily skewed toward Japan, with the iShares MSCI Japan ETF (EWJ) securing $206M in daily creations. The Vanguard FTSE Europe ETF (VGK) similarly accumulated $187M, contributing to the Eurozone category’s robust $430M daily total. Conversely, the Vanguard FTSE Pacific ETF (VPL) witnessed the steepest regional redemptions, losing ($126M) and reinforcing the broader Asia-Pacific category’s ($126M) daily deficit. Over a one-year measurement period, the Country Specific category has accumulated $17,293M, compared to the $14,180M gathered by the Eurozone segment.

Thematic

The Infrastructure thematic category captured $257M in daily net flows, reversing its negative ($65M) one-month trend while advancing its $12,209M one-year accumulation. Specifically, the iShares U.S. Telecommunications ETF (IYZ) and ARK Innovation ETF (ARKK) led individual thematic inflows with $162M and $77M respectively. Thematic laggards were concentrated in FinTech and Disruptive Tech, which lost ($101M) and ($111M) at the category level during the session. The ARK Blockchain & Fintech Innovation ETF (ARKF) experienced the sharpest individual thematic reduction, contracting by ($95M) on the day.

Fixed Income

Government debt products dominated the Fixed Income landscape, capturing $1,931M in daily flows, led by the Vanguard Long-Term Treasury ETF (VGLT) with $437M in additions. The iShares 0-3 Month Treasury Bond ETF (SGOV) contributed an additional $347M, aligning with the Ultrashort duration category’s $744M daily surge. Municipal bonds stood as the primary detractor, shedding ($114M) overall, heavily influenced by the Vanguard Tax-Exempt Bond ETF (VTEB) dropping ($280M). Long-duration products showed significant daily accumulation with $1,016M added, despite registering a modest $10,467M growth pattern over the trailing one-year period.

Commodity

Commodity ETFs registered aggregate daily outflows of ($585M), driven almost entirely by the Precious Metals category which shed ($486M). The iShares Silver Trust (SLV) represented the largest individual detractor, liquidating ($433M) of its $37.53B asset base in a single session. On the positive side, the abrdn Physical Platinum Shares ETF (PPLT) and United States Natural Gas Fund (UNG) led creations with $18M and $13M respectively. Over a one-year horizon, the Precious Metals category remains robust with $58,029M in total asset accumulation despite short-term liquidation activity.

Cryptocurrency

Digital Asset ETFs experienced a net contraction of ($96M), largely attributed to the Bitcoin category’s daily outflow of ($110M). The iShares Bitcoin Trust ETF (IBIT) shed the most assets individually, losing ($120M) from its substantial $51.41B baseline. Conversely, the Ethereum category added $45M for the day, supported by the Grayscale Bitcoin Mini Trust ETF (BTC) and iShares Ethereum Trust ETF (ETHA) gaining $36M and $23M respectively. The trailing one-year data underscores significant long-term asset gathering, with the overarching Digital Asset class maintaining $27,743M in net positive flows.

Non-Traditional

The Non-Traditional asset class generated $157M in daily net flows, primarily fueled by the Synthetic Income category’s $289M accumulation. Option-income strategies led individual product flows, with the NEOS Nasdaq 100 High Income ETF (QQQI) and JPMorgan NASDAQ Equity Premium Income ETF (JEPQ) capturing $57M and $46M respectively. The Leverage/Inverse category offset these gains by shedding ($57M), heavily impacted by the Direxion Daily Semiconductor Bull 3x Shares (SOXL) experiencing ($145M) in redemptions. Despite daily fluctuations, the Non-Traditional segment has proven structurally resilient with an $85,034M expansion over the trailing one-year period.

Recent Launches

The ETF marketplace has continued its expansion with ten new product launches occurring between February 11 and February 18, 2026. Fidelity introduced two notable Fixed Income products, bringing the Fidelity CLO ETF (FCLO) and Fidelity AAA CLO ETF (FAAA) to market with $25.00M and $20.01M in initial assets respectively. Reckoner similarly expanded the CLO space with four distinct launches on February 11, ranging between $12.50M and $15.02M in initial seed capital. These targeted thematic and fixed income additions highlight ongoing issuer efforts to capture niche segment flows amid broader market consolidation.