Fixed Income Outpaces Equities in $7B Daily ETF Flow Surge

Issuer League Tables

On February 10, 2026, the absolute flow landscape was led by iShares and Vanguard, which attracted $4,280M and $3,767M respectively. Conversely, Invesco and SPDR experienced the largest daily outflows, losing $2,473M and $1,845M in a single session. On a relative basis, Lazard and Adaptiv demonstrated significant growth as a percentage of their total assets, posting 1-day flows of 9.39% and 8.29%. These sharp daily movements contrast with the 1-year trend, where Vanguard maintains a dominant lead with $455.80B in total annual inflows.

Issuer Flows (Absolute)

Issuer Flows (Relative)

Daily ETF Flow Analysis

The total net daily flow for all U.S. listed ETFs was $7,168M, largely driven by Fixed Income and Equity asset classes which saw $4,006M and $3,035M in new money, respectively. Non-Traditional ETFs were the primary outlier, posting net outflows of $385M for the day. Over the past month, Equity ETFs have led all classes with $108,449M in inflows, followed by Fixed Income at $57,142M. Digital Assets remain in a period of pressure, recording outflows across the 1-week, 1-month, 3-month, and YTD timeframes.

Asset Class Flows

Top 10 Category Flows

Bottom 10 Category Flows

U.S. Size & Style

Within U.S. markets, size and style categories saw a massive divergence between Large Cap Growth and Small Cap Blend. Equity: U.S. Small Cap – Blend led the sub-segment with $894M in daily flows, while Equity: U.S. Large Cap – Growth suffered significant outflows of $1,831M. On a fund level, VOO remained the top attractor with $2,168M, sharply contrasting with SPY, which lost $2,326M. These daily movements illustrate a shift away from standard Large Cap Blend and Growth mandates in the short term, despite their massive $7.4T combined AUM.

Size & Style ex-U.S.

International equity flows were positive on net, totaling $1,412M for the day. Emerging Large Cap led the category with $637M in daily inflows, bolstered by strong activity in IEMG ($178M) and AVEM ($111M). Global Ex-U.S. Large Cap – Value also showed strength with $276M in daily additions, a notable contrast to its 1-year flow rate. The only segment in the red was Emerging Small | Mid Cap, which lost a modest $34M during the session.

Sector & Industry

Information Technology was the clear sector leader for the day, capturing $658M in new assets, primarily through semiconductor funds like SMH ($427M) and SOXX ($265M). Financials followed with $488M in daily inflows, supported by the regional banking surge in KRE ($356M). Conversely, Health Care and Communication Services were the primary laggards, losing $221M and $118M respectively. Over the last month, the Energy sector has seen the most aggressive growth relative to its size, posting $4,340M in net inflows.

Region & Country

Regional flows were concentrated in Asia-Pacific, which captured $229M in daily inflows, driven by EWY ($50M) and CXSE ($45M). Latin America also saw significant activity, recording $88M in single-session inflows, which aligns with its very strong 1-month trend of $2,705M. Eurozone ETFs were the session’s only significant losers, posting a net daily loss of $20M. Despite the daily volatility, the 1-year trend for Eurozone remains robust at $15,046M in total net inflows.

Thematic

Thematic ETFs were led by the Infrastructure category, which posted a staggering $519M in daily inflows, almost entirely driven by GRID ($399M). Natural Resources and Multi-Sector also posted daily gains of $39M and $33M respectively. On the downside, Evolving Consumer and FinTech categories experienced a total lack of fresh demand, with Evolving Consumer posting $10M in inflows while FinTech remained flat. Disruptive Tech, which has seen $20,023M in 1-year inflows, paused for the session with a small $3M outflow.

Fixed Income

Fixed Income was the highest-grossing asset class of the day, netting $4,006M in total flows. Government bonds were the primary driver with $1,665M in daily additions, followed closely by Corporate bond funds at $1,191M. Intermediate duration remains the preferred structural choice for investors, capturing $2,253M in daily activity. On a fund level, LQD led with $453M, while GTO saw the largest single-fund outflow of $100M.

Commodity

Commodity ETFs posted a daily net gain of $129M, with Precious Metals leading the segment at $79M. Broad Multi-Sector funds also showed strength, capturing $61M in a single session. On a fund level, GLDM and SLV dominated daily activity with $90M and $66M respectively. Conversely, SIVR suffered $76M in outflows, while the Energy segment lost $12M on the day.

Cryptocurrency

Cryptocurrency ETFs recorded a modest recovery for the day with $201M in net inflows, breaking a recent period of pressure. Bitcoin funds were the primary beneficiaries, netting $139M, led by BTC ($131M). Ethereum also saw a positive turn with $57M in daily additions, with FETH contributing $67M. However, longer-term trends remain negative, as the Bitcoin category has seen $1,678M in outflows over the past month.

Non-Traditional

Non-Traditional ETFs were the primary outlier of the session, recording net outflows of $385M. This was almost entirely driven by the Leverage | Inverse segment, which lost $475M on the day, with SOXL seeing a massive $474M redemption. Synthetic Income strategies provided a small offset with $50M in daily inflows, while Buffer ETFs added $39M. Despite the daily headline loss, the asset class maintains strong medium-term momentum with $21,405M in 3-month net inflows.

Recent Launches

The ETF market continues to expand with 329 launches in the past three months, including several high-profile AI-managed and single-stock leveraged products. Notable recent entries include WAGN ($127.3M) and BRES ($613.3M), illustrating a trend toward specialized equity mandates. Year-to-date, Active ETFs have completely dominated new product demand, attracting $8.73B in assets compared to just $0.02B for passive counterparts. This disparity highlights the industry-wide shift toward active management in new product development.