Core S&P 500 Trackers Absorb Billions as Leveraged Trends Cool

Issuer League Tables

The daily flow session was led by iShares and Vanguard, which recorded net absolute inflows of $10,151M and $7,699M respectively. These figures contribute to their 1-year flow totals of $379.77B and $436.04B. On a relative basis, issuers such as Freedom Day and Procure saw daily flows representing 13.63% and 5.78% of their total AUM. In contrast, absolute outflows were most pronounced at SPDR ($1,288M) and Capital Group ($1,265M), while Bancreek recorded a relative AUM decline of 17.27% for the session.

Issuer Flows: Absolute

Issuer Flows: Relative

Daily ETF Flow Analysis

Total market flows reached $18.58B for the day, with Equity ETFs accounting for $13,972M of the session’s net creates. Fixed Income funds followed with $3,780M, while Commodities added $1,300M. Category-level activity was led by U.S. Large Cap Blend with a $13.66B daily gain. In contrast, the U.S. Large Cap Value category saw a daily outflow of $1,422M, and Bitcoin-focused digital assets shed $250M.

Asset Class Flows

U.S. Size & Style

In the U.S. Size & Style segment, flows were concentrated in core market trackers, with IVV adding $10,039M and VOO adding $5,665M. Conversely, SPY recorded the largest daily redemption at $2,742M, while CGDV shed $1,333M. Overall, the U.S. Large Cap Blend category added $13.66B for the session.

Size & Style ex-U.S.

Ex-U.S. equity flows were anchored by the Emerging Large Cap category, which recorded a $849M daily inflow. JEMG led individual fund creations with $755M, while ACWI added $463M. On the laggard side, JIRE recorded a $193M outflow, and OSEA shed $68M for the session.

Sector & Industry

Sector-level activity saw net outflows of $351M, largely due to a $341M reduction in Information Technology funds. SOXX faced the session’s heaviest sector redemptions at $247M. In contrast, XLK and XLV managed daily creations of $95M and $87M, respectively, while Financials added $141M category-wide.

Region & Country

Region and Country activity was highlighted by creations in Latin America ($53M) and a daily gain of $40M for ILF. India-focused funds saw redemptions, with INDA losing $32M and EPI losing $27M. Overall, the Asia-Pacific region recorded a net outflow of $12M for the session.

Thematic

Thematic flow leaders included SHLD with $147M and XHB with $102M in net creates. The Industrial Revolution category contributed $200M to the total thematic gain of $589M. Conversely, redemptions were led by ARKK ($48M) and SKYY ($13M).

Fixed Income

Fixed Income session creates were led by BND ($312M) and NuShares Nuveen aggregate bond tracker (NXUS) with $250M. Redemptions were notable in corporate debt, with LQD shedding $442M. Long duration products also recorded redemptions, as TLT shed $193M and SPTL shed $152M.

Commodity

Commodity creations were concentrated in the Precious Metals category, which recorded a $1,138M daily gain. GLD added $950M for the session, while UNG added $100M. The only significant redemption in the segment was recorded by IAU, which lost $68M daily.

Cryptocurrency

Cryptocurrency ETFs recorded daily outflows of $335M, led by a $252M redemption from IBIT and $84M from ETHA. FBTC managed a daily inflow of $8M, while Franklin’s XRP tracker (XRPZ) added $5M.

Non-Traditional

Non-Traditional daily outflows totaled $200M, driven by redemptions in Leverage & Inverse products. SOXL shed $399M for the day, while TNA shed $54M. Synthetic Income trackers provided a offset, with ULTY adding $38M and JEPI adding $36M.

Recent Launches

Year-to-date launches have gathered $0.11B in assets, led by the Non-Traditional Buffer – Equity category. LOGIQ Contrarian Opportunities ETF (LCO) has gathered $52.65M in AUM since its inception on 1/8/2026. Global X also expanded its defined maturity series with the launch of several Zero Coupon Bond ETFs.