The Daily Flow: SPY Surges as Tech and Crypto See Redemptions

Issuer League Tables

State Street (SPDR) captured the largest absolute daily inflows among issuers, registering $3,259M in new assets to reach $1,770.20B in total AUM. iShares followed with $1,683M in daily inflows, sustaining its position as the largest issuer with a total AUM of $4,077.32B. Conversely, Invesco experienced the most significant absolute outflows, shedding $2,238M for the day. In relative terms, BrandywineGLOBAL achieved the highest daily growth rate at 18.32% of its AUM, while Hennessy recorded the steepest relative decline at 36.42%.

Issuer Flows (Absolute)

Issuer Flows (Relative)

Daily ETF Flow Analysis

Total market flows for the day equated to $5,351M across $13,832.9B in total assets under management. Equity ETFs led aggregate inflows by securing $4,461M, followed by Fixed Income products which accumulated $1,042M. Digital Asset and Non-Traditional ETFs posted the largest daily outflows at $249M and $385M, respectively. Within specific categories, U.S. Large Cap Blend funds attracted the most capital with $2,739M in daily inflows, whereas U.S. Large Cap Growth funds lost $765M in assets.

Asset Class Flows

Top/Bottom 10 Category Flows

U.S. Size & Style

The U.S. Large Cap segment dominated the daily inflow landscape, with the SPY ETF accumulating $2,176M to reach an AUM of $659.0B. The VTI and SPYM funds also recorded substantial positive flows of $804M and $667M, respectively. On the lower end of the spectrum, the OMFL ETF experienced the most pronounced daily contraction by shedding $1,230M. Additionally, the QQQ and RSP ETFs recorded notable single-day outflows of $707M and $408M.

Size & Style ex-U.S.

International equity flows were positive across the major ex-U.S. asset categories, with IEFA leading the segment via $366M in new daily assets. The SCHF and EMXC ETFs followed closely, garnering $299M and $280M in daily inflows. Outflows in this segment were comparatively muted relative to their domestic counterparts. The ACWV ETF led the daily laggards with $60M in net redemptions, trailed by the IHDG ETF shedding $19M.

Sector & Industry

Energy-focused ETFs captured the highest level of sector-specific daily inflows, driven by $238M allocated to the XLE ETF and $153M to the XOP ETF. Information Technology funds observed the highest daily redemptions, highlighted by a $185M outflow from the IGV ETF. Consumer Staples and Health Care funds also recorded negative single-day activity. Specifically, the XLP ETF decreased by $158M while the XLV ETF observed a reduction of $139M in assets.

Region & Country

Latin America regional allocations led the geographic flow breakdown, spearheaded by the ILF ETF capturing $62M in new daily capital. Japanese and Canadian equity products followed, with the FLJP and EWC ETFs securing $44M and $33M, respectively. Indian equity funds constituted the largest segment of regional outflows for the day. This was reflected by a $57M single-day reduction in the INDA ETF, trailed by a $15M contraction in the Mexican equity EWW ETF.

Thematic

Disruptive Technology funds accounted for the largest thematic asset expansion, led by the DRAM ETF logging $157M in daily inflows. Precious Metals allocations were also a primary component of thematic asset accumulation, as the GDX ETF generated $95M in net new assets. Conversely, the ARKK ETF recorded the largest contraction within thematic categories, losing $72M over the session. The GDXJ and JTEK ETFs also reported reductions, posting outflows of $31M and $29M, respectively.

Fixed Income

Government Ultrashort fixed income products experienced the highest segment inflows, exemplified by the IQMM ETF securing $395M and the SGOV ETF adding $266M. The TLT ETF also recorded $156M in daily asset accumulation within the Long-Term Treasury category. Corporate bond funds registered the largest segment reduction, illustrated by a $107M contraction in the VCIT ETF. The USFR and VCSH ETFs followed closely with daily reductions of $79M and $63M, respectively.

Commodity

Precious Metals led the physical asset segment in daily accumulation, guided by the GLDM ETF adding $329M to its $30.11B in AUM. Silver and Gold allocations sustained this trend, with the SLV and IAU ETFs capturing $157M and $69M in new daily assets. In contrast, the GLD ETF recorded the largest overall commodity outflow, shedding $212M in a single session. The DBO and DBA ETFs followed among the laggards, losing $29M and $26M, respectively.

Cryptocurrency

Daily flows in the digital asset category were largely negative, with only a few minor positive net flows recorded across alternative coin products. The XRP and XRPZ ETFs led the segment with single-day inflows of $2M and $1M, respectively. Ethereum and Bitcoin products bore the largest share of the segment’s outflows. The FETH and FBTC ETFs each contracted by $48M, while the GBTC ETF shed $42M in daily assets.

Non-Traditional

Inverse and leveraged equity products dominated the Non-Traditional inflows, anchored by the SQQQ ETF receiving $133M in daily assets. The JEPI ETF also experienced $73M in single-day accumulation within the synthetic income category. Conversely, leveraged semiconductor products constituted the largest outflows in the segment. Specifically, the SOXL ETF shed $308M, followed by the TQQQ ETF contracting by $230M.

Recent Launches

The most recent trading period saw ten new exchange-traded products introduced to the market. The DRAM ETF debuted with the largest initial asset base, securing $166.30M in AUM upon its launch within the Disruptive Tech category. The TFGZ ETF also established a significant initial footprint, commencing trading with $88.40M in assets under management. These launches reflect ongoing expansion across thematic equity, synthetic income, and cryptocurrency asset groupings.