The Global Ex-U.S. Size & Style market encompasses 308 ETFs from 84 issuers, with a total of $1,353B in Assets Under Management. This week, Emerging Markets demonstrated notable strength in performance, while investors continued to allocate significant capital towards developed markets, particularly within large-cap blend strategies. The channel saw net inflows of $3.30B over the past five days, contributing to a year-to-date total of $93.08B and a one-year total of $133.02B.
Weekly Performance Recap: Emerging Markets Outpace Developed Peers
Emerging Markets Large Cap was the standout performer this week, delivering a +1.08% return, while Global Ex-U.S. Large Cap – Value lagged with a +0.32% gain. Over the past year, Global Ex-U.S. Small | Mid Cap has been the top-performing category with a +24.76% return.
Category Performance (As of September 5, 2025)
| Category | WTD | 1M | 3M | YTD |
| Emerging Markets Large Cap | +1.08% | +2.62% | +7.79% | +18.36% |
| Global Ex-U.S. Large Cap – Growth | +0.51% | +2.97% | +2.74% | +17.44% |
| Emerging Markets Small | Mid Cap | +0.49% | +3.78% | +9.04% | +15.85% |
| Global Ex-U.S. Large Cap – Blend | +0.45% | +3.44% | +4.82% | +22.36% |
| Global Ex-U.S. Small | Mid Cap | +0.35% | +3.84% | +9.23% | +28.80% |
| Global Ex-U.S. Large Cap – Value | +0.32% | +4.02% | +6.92% | +27.67% |
Global Ex-U.S. Top & Bottom 3 Performers (WTD)
| Top Performers | WTD |
|---|---|
| SP Funds S&P World (ex-US) ETF (SPWO) | +1.62% |
| Alpha Architect International Quantitative Value ETF (IVAL) | +1.34% |
| BNY Mellon Concentrated International ETF (BKCI) | +1.21% |
| Bottom Performers | WTD |
| Invesco International Dividend Achievers ETF (PID) | -1.02% |
| iShares International Select Dividend ETF (IDV) | -0.57% |
| Franklin International Dividend Booster Index ETF (XIDV) | -0.37% |
Emerging Markets Top & Bottom 3 Performers (WTD)
| Top Performers | WTD |
|---|---|
| Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) | +2.28% |
| Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) | +2.06% |
| Harbor Emerging Markets Select ETF (EMES) | +2.00% |
| Bottom Performers | WTD |
| SPDR S&P Emerging Markets Dividend ETF (EDIV) | -0.14% |
| WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) | -0.08% |
| SPDR S&P Emerging Markets Small Cap ETF (EWX) | -0.02% |
Weekly Flow Summary: Broad Inflows Continue Led by Developed Markets
The channel experienced a net inflow of $3.30B over the last five days. Global Ex-U.S. Large Cap – Blend was the primary beneficiary, attracting +$2,433M, bringing its year-to-date total to $62,567M. In contrast, Emerging Small | Mid Cap saw no new net inflows.
Category Flows (As of September 4, 2025)
| Category | Fund Count | AUM | WTD | 1M | YTD |
| Global Ex-U.S. Large Cap – Blend | 109 | $837.0B | +$2,433M | +$9,687M | +$62,567M |
| Global Ex-U.S. Large Cap – Value | 50 | $103.3B | +$431M | +$1,395M | +$13,608M |
| Global Ex-U.S. Large Cap – Growth | 26 | $37.7B | +$203M | +$644M | -$802M |
| Emerging Markets Large Cap | 98 | $320.4B | +$160M | +$909M | +$15,334M |
| Global Ex-U.S. Small | Mid Cap | 18 | $51.1B | +$76M | +$477M | +$2,867M |
| Emerging Markets Small | Mid Cap | 6 | $3.1B | +$0M | -$38M | -$489M |
Top & Bottom 5 Flows (5-Day)
| Top Inflows | Flow |
|---|---|
| Vanguard Total International Stock ETF (VXUS) | +$779M |
| iShares Core MSCI EAFE ETF (IEFA) | +$541M |
| Vanguard FTSE Developed Markets ETF (VEA) | +$496M |
| iShares Core MSCI International Developed M… (IDEV) | +$361M |
| Dimensional International Value ETF (DFIV) | +$212M |
| Bottom Outflows | Flow |
| iShares MSCI Emerging Markets ex China ETF (EMXC) | -$159M |
| JPMorgan BetaBuilders International Equity ETF (BBIN) | -$55M |
| Schwab Fundamental International Small Equity ETF (FNDC) | -$22M |
| SPDR MSCI EAFE StrategicFactors ETF (QEFA) | -$17M |
| 3EDGE Dynamic International Equity ETF (EDGI) | -$12M |
Issuer and Product Landscape
Market Share: The top three issuers by AUM are iShares (40.03%), Vanguard (33.71%), and Schwab (6.97%).
Issuer Flows: Vanguard led all issuers in the past week, attracting +$1,374M in net inflows.
Product Development: Over the past three months, there have been 9 new ETF launches, with VictoryShares leading the way with two new products. There have been 3 ETF closures, with First Trust accounting for two.
Weekly Issuer Flow Leaders
| Inflows | AUM | Market Share | WTD | WTD (% AUM) |
| Vanguard | $455.92B | 33.71% | +$1,374M | +0.30% |
| iShares | $541.38B | 40.03% | +$966M | +0.18% |
| Dimensional | $70.66B | 5.22% | +$388M | +0.55% |
| Outflows | AUM | Market Share | WTD | WTD (% AUM) |
| JPMorgan | $17.89B | 1.32% | -$26M | -0.15% |
| 3Edge | $0.11B | 0.01% | -$12M | -11.02% |
| Harbor | $0.78B | 0.06% | -$9M | -1.10% |
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
