Issuer League Tables
The U.S. ETF landscape now includes $12,838B in AUM across 4,723 products from 462 issuers. ProShares led all issuers in 1-day flows, collecting a massive $43,281M, driven largely by activity in its leveraged equity products. Please note: These unusually large inflows into ProShares products are currently being investigated for accuracy and, if accurate, as a potential “heartbeat” trade for tax efficiency. Vanguard followed with steady inflows of $2,217M, maintaining its strong YTD momentum. Invesco also saw significant interest, gathering $1,745M, while iShares added $876M. On the outflow side, Allianz saw the largest redemptions at -$81M.
| Brand | 1-Day Flow | 30-Day Flow | YTD Flow | 1-Year Flow |
|---|---|---|---|---|
| Inflows | ||||
| ProShares | $43,281M | $42,981M | $45.08B | $44.63B |
| Vanguard | $2,217M | $58,363M | $343.54B | $392.54B |
| Invesco | $1,745M | $9,966M | $56.82B | $71.23B |
| iShares | $876M | $39,761M | $286.76B | $353.01B |
| JPMorgan | $654M | $9,658M | $61.57B | $64.31B |
| Outflows | ||||
| Allianz | ($81M) | $48M | $0.83B | $0.93B |
| Aptus | ($77M) | $152M | $1.07B | $1.21B |
| Defiance | ($74M) | $1,151M | $4.11B | $5.80B |
| YieldMax | ($69M) | $291M | $14.71B | $17.54B |
| Volatility Shares | ($62M) | $144M | $3.15B | $3.82B |
Daily ETF Flow Analysis
Total 1-day net flows for all U.S. listed ETFs reached a staggering $52.44B, driven overwhelmingly by Non-Traditional funds which pulled in $44.49B. Equity funds also saw robust demand with $7.00B in new assets, while Fixed Income gathered $1.66B. Conversely, Alternatives (-$621M) and Digital Assets (-$396M) experienced the most significant outflows.
| Asset Class | 1-Day Flow | 1-Week Flow | 1-Month Flow | YTD Flow | 1-Year Flow |
|---|---|---|---|---|---|
| Non-Traditional | $44,485M | $46,250M | $51,439M | $121,246M | $134,593M |
| Equity | $6,995M | $26,032M | $124,826M | $662,187M | $803,190M |
| Fixed Income | $1,658M | $7,592M | $47,904M | $379,067M | $410,323M |
| Commodity | $265M | $155M | ($985M) | $46,177M | $44,998M |
| MultiAsset | $55M | $259M | $953M | $6,044M | $7,078M |
| Currency | $0M | ($8M) | $65M | $570M | $717M |
| Digital Asset | ($396M) | ($2,790M) | ($4,436M) | $36,554M | $46,517M |
| Alternative | ($621M) | ($725M) | ($874M) | $3,156M | $3,119M |
| Category | 1-Day Flow | AUM |
|---|---|---|
| Top 10 Categories | ||
| Non-Traditional: Leverage | Inverse – Equity | $44,422M | $104.63B |
| Equity: U.S. Large Cap – Value | $4,074M | $860.48B |
| Equity: U.S. Large Cap – Growth | $3,092M | $1,205.75B |
| Fixed Income: Taxable – Government Ultrashort | $828M | $188.82B |
| Fixed Income: Taxable – Corporate | $652M | $160.71B |
| Equity: Emerging Large Cap | $617M | $352.59B |
| Fixed Income: Taxable – Short-Term | $616M | $146.14B |
| Equity: U.S. Mid Cap – Blend | $399M | $346.20B |
| Commodity: Focused – Precious Metals | $325M | $274.42B |
| Equity: Thematic – Multi-Sector | $315M | $24.52B |
| Bottom 10 Categories | ||
| Equity: U.S. Large Cap – Blend | ($1,595M) | $3,825.52B |
| Alternative: Volatility – Long | ($638M) | $2.30B |
| Fixed Income: Taxable – Government Long | ($627M) | $136.98B |
| Fixed Income: Taxable – Inflation Protected | ($566M) | $68.22B |
| Equity: Sector – Consumer Discretionary | ($449M) | $33.19B |
| Digital Asset: Cryptocurrency – Bitcoin | ($370M) | $124.64B |
| Fixed Income: Taxable High Yield | ($278M) | $107.13B |
| Equity: Sector – Communication Services | ($228M) | $33.39B |
| Equity: Thematic – Disruptive Tech | ($151M) | $51.17B |
| Equity: Sector – Industrial | ($150M) | $61.74B |
U.S. Size & Style
Within U.S. equities, Large Cap funds saw divergent flows. Large Cap Value led with $4.07B in inflows, followed by Large Cap Growth with $3.09B. However, Large Cap Blend saw significant outflows of -$1.60B. Mid Cap funds saw positive momentum across the board, while Small Cap Blend struggled with minor outflows. At the fund level, IVE ($3.21B) and QQQ ($1.37B) were top asset gatherers, while QUAL saw a massive redemption of -$4.17B.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| IVE | iShares S&P 500 Value ETF | $3,211M | $45.4B |
| QQQ | Invesco QQQ Trust Series I | $1,372M | $390.6B |
| MTUM | iShares MSCI USA Momentum Factor ETF | $1,295M | $19.6B |
| VOO | Vanguard S&P 500 ETF | $749M | $787.6B |
| IVV | iShares Core S&P 500 ETF | $630M | $704.5B |
| Top 5 Laggards | |||
| QUAL | iShares MSCI USA Quality Factor ETF | ($4,165M) | $47.1B |
| IWM | iShares Russell 2000 ETF | ($152M) | $67.1B |
| FVD | First Trust Value Line Dividend Index Fund | ($91M) | $8.4B |
| RSP | Invesco S&P 500 Equal Weight ETF | ($70M) | $71.3B |
| IWF | iShares Russell 1000 Growth ETF | ($46M) | $120.1B |
Global Ex-U.S. Size & Style
International equity flows were positive, led by the Emerging Markets Large Cap category which gathered $617M. Global Ex-U.S. Large Cap Blend funds also saw healthy inflows of $307M. Value and Growth strategies in the Global Ex-U.S. space saw outflows. IEMG ($558M) was the clear fund leader, while EFV (-$164M) saw the largest redemptions.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| IEMG | iShares Core MSCI Emerging Markets ETF | $558M | $114.9B |
| JGLO | JPMorgan Global Select Equity ETF | $249M | $7.1B |
| JIRE | JPMorgan International Research Enhanced Equity ETF | $175M | $9.2B |
| VYMI | Vanguard International High Dividend Yield ETF | $43M | $13.4B |
| VXUS | Vanguard Total International Stock ETF | $41M | $110.8B |
| Top 5 Laggards | |||
| EFV | iShares MSCI EAFE Value ETF | ($164M) | $26.7B |
| EFG | iShares MSCI EAFE Growth ETF | ($89M) | $9.2B |
| DGS | Wisdom Tree Emerging Markets SmallCap Dividend Fund | ($11M) | $1.6B |
| GKAT | Scharf Global Opportunity ETF | ($6M) | $0.1B |
| QEFA | SPDR MSCI EAFE StrategicFactors ETF | ($4M) | $0.9B |
Region & Country
Flows into single-country and region funds were muted and mixed. North America saw a slight inflow of $2M, while Asia-Pacific (-$65M) and Latin America (-$13M) saw outflows. Canada and China funds led minor inflows, with FLCA and KWEB seeing small positive movement. ASHR was the largest single laggard.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| FLCA | Franklin FTSE Canada ETF | $2M | $0.52B |
| KWEB | KraneShares CSI China Internet ETF | $2M | $9.04B |
| JAPN | Horizon Kinetics Japan Owner Operator ETF | $1M | $0.03B |
| NBJP | Neuberger Berman Japan Equity ETF | $1M | $0.05B |
| VGK | Vanguard FTSE Europe ETF | SOM | $27.46B |
| Top 5 Laggards | |||
| ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | ($29M) | $1.71B |
| EWJV | iShares MSCI Japan Value ETF | ($23M) | $0.48B |
| EWW | iShares MSCI Mexico ETF | ($7M) | $1.97B |
| EPU | iShares MSCI Peru and Global Exposure ETF | ($6M) | $0.23B |
| KBA | KraneShares Bosera MSCI China A 50 Connect Index ETF | ($6M) | $0.22B |
Sector & Industry
Sector flows were generally negative, with significant outflows from Financials (-$674M), Consumer Discretionary (-$449M), and Industrials (-$352M). Health Care was a bright spot, pulling in $242M, followed by Real Estate with $185M. IBB led individual fund inflows with $541M, while tech fund IYW shed -$396M.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| IBB | iShares Biotechnology ETF | $541M | $8.2B |
| SMH | VanEck Semiconductor ETF | $316M | $34.8B |
| SOXX | iShares Semiconductor ETF | $208M | $15.5B |
| XLF | Financial Select Sector SPDR Fund | $103M | $51.4B |
| FTXL | First Trust Nasdaq Semiconductor ETF | $46M | $1.2B |
| Top 5 Laggards | |||
| IYW | iShares U.S. Technology ETF | ($396M) | $20.4B |
| XLY | Consumer Discretionary Select Sector SPDR Fund | ($393M) | $22.3B |
| IGM | iShares Expanded Tech Sector ETF | ($325M) | $8.5B |
| XLC | Communication Services Select Sector SPDR Fund | ($229M) | $25.2B |
| XLV | Health Care Select Sector SPDR Fund | ($175M) | $39.3B |
Thematic
Multi-Sector thematic funds saw the most interest with $315M in inflows. Sustainability and Infrastructure also saw modest positive flows. However, Disruptive Tech funds faced headwinds, losing -$151M. THRO ($197M) was the top asset gatherer, while QTUM (-$68M) lagged.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| THRO | iShares U.S. Thematic Rotation Active ETF | $197M | $6.60B |
| ARKK | ARK Innovation ETF | $124M | $7.02B |
| FDN | First Trust Dow Jones Internet Index Fund | $53M | $6.70B |
| IGF | iShares Global Infrastructure ETF | $31M | $8.73B |
| GNR | SPDR S&P Global Natural Resources ETF | $30M | $3.51B |
| Top 5 Laggards | |||
| QTUM | Defiance Quantum ETF | ($68M) | $2.89B |
| MAGS | Roundhill Magnificent Seven ETF | ($59M) | $3.65B |
| GDX | VanEck Gold Miners ETF | ($49M) | $22.52B |
| ARKG | ARK Genomic Revolution ETF | ($25M) | $1.07B |
| IVES | Dan IVES Wedbush AI Revolution ETF | ($14M) | $0.92B |
Fixed Income
Fixed Income flows were positive overall, with Multi-Sector ($1.18B) and Corporate ($448M) funds leading the way. However, Government funds saw net outflows of -$190M. Investors favored the extremes of the duration curve, adding to both Ultrashort ($995M) and Intermediate ($996M) funds, while fleeing Long duration products (-$749M). BSV and BIL were notable inflow leaders.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| BSV | Vanguard Short-Term Bond ETF | $497M | $40.47B |
| BIL | State Street SPDR Bloomberg 1-3 Month T-Bill ETF | $282M | $43.22B |
| SGOV | iShares 0-3 Month Treasury Bond ETF | $282M | $62.20B |
| NXUS | NuShares ETF Trust Nuveen International Aggregate Bond | $198M | $0.90B |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | $177M | $32.77B |
| Top 5 Laggards | |||
| STIP | iShares 0-5 Year TIPS Bond ETF | ($555M) | $12.73B |
| TLT | iShares 20+ Year Treasury Bond ETF | ($401M) | $49.57B |
| TLH | iShares 10-20 Year Treasury Bond ETF | ($278M) | $12.56B |
| USHY | iShares Broad USD High Yield Corporate Bond ETF | ($253M) | $25.53B |
| VCLT | Vanguard Long-Term Corporate Bond ETF | ($92M) | $8.05B |
Commodity
Commodities saw inflows of $265M, almost entirely driven by Precious Metals ($325M). Energy funds, however, saw outflows of -$57M. GLD ($299M) dominated fund-level inflows, while the natural gas fund UNG (-$30M) saw the largest outflows.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| GLD | SPDR Gold Shares | $299M | $136.24B |
| SLV | iShares Silver Trust | $14M | $24.62B |
| IAUM | iShares Gold Trust Micro ETF of Benef Interest | $12M | $5.42B |
| HGER | Harbor Commodity All-Weather Strategy ETF | $3M | $1.36B |
| EDGH | 3EDGE Dynamic Hard Assets ETF | $0M | $0.13B |
| Top 5 Laggards | |||
| UNG | United States Natural Gas Fund LP | ($30M) | $0.56B |
| USO | United States Oil Fund LP | ($22M) | $0.98B |
| OILK | ProShares K-1 Free Crude Oil ETF of Benef Interest | ($6M) | $0.06B |
| GSG | iShares S&P GSCI Commodity Indexed Trust | ($6M) | $1.11B |
| KCCA | KraneShares California Carbon Allowance Strategy ETF | $0M | $0.12B |
Digital Assets
Crypto ETFs saw net outflows of -$396M. Bitcoin funds shed -$370M, and Ethereum funds lost -$71M. Altcoin funds bucked the trend with inflows of $46M. BTC ($140M) and ETH ($62M) saw positive flows, but were outweighed by heavy selling in IBIT (-$523M).
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| BTC | Grayscale Bitcoin Mini Trust ETF | $140M | $4.36B |
| Grayscale Ethereum Mini Trust ETF | Grayscale Ethereum Mini Trust ETF | $62M | $2.19B |
| BSOL | Bitwise Solana Staking ETF | $23M | $0.48B |
| ETHW | Bitwise Ethereum ETF | $19M | $0.38B |
| XRPC | Canary XRP ETF | $17M | $0.30B |
| Top 5 Laggards | |||
| IBIT | iShares Bitcoin Trust ETF | ($523M) | $72.76B |
| ETHA | iShares Ethereum Trust ETF | ($165M) | $11.47B |
| EZPZ | Franklin Crypto Index ETF | ($1M) | $0.01B |
| BTRN | Global X Bitcoin Trend Strategy ETF | $0M | $0.01B |
| AETH | Bitwise Trendwise Ether and Treasuries Rotation Strategy | $0M | $0.01B |
Non-Traditional
Non-Traditional funds were the primary driver of the day’s total volume, led by a massive $44.46B influx into Leverage & Inverse Equity products. This activity was concentrated heavily in ProShares products, with TQQQ ($27.6B) and QLD ($9.8B) seeing exceptional inflows. These figures are being verified as potential tax-efficient heartbeat trades. Conversely, SQQQ saw the largest outflows of -$2.26B.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| TQQQ | ProShares UltraPro QQQ | $27,576M | $28.34B |
| QLD | ProShares Ultra QQQ | $9,806M | $10.06B |
| SSO | ProShares Ultra S&P 500 | $6,726M | $6.85B |
| USD | ProShares Ultra Semiconductors | $1,550M | $1.62B |
| UDOW | ProShares UltraPro Dow30 | $682M | $0.68B |
| Top 5 Laggards | |||
| SQQQ | ProShares UltraPro Short QQQ | ($2,259M) | $2.73B |
| SDS | ProShares UltraShort S&P 500 | ($357M) | $0.43B |
| SPXU | ProShares UltraPro Short S&P500 | ($356M) | $0.47B |
| SOXS | Direxion Daily Semiconductor Bear 3x Shares | ($86M) | $1.22B |
| ETHD | ProShares UltraShort Ether ETF | ($83M) | $0.10B |
Recent ETF Launches
Several new funds hit the market on November 18th, including crypto-focused products from Amplify and Canary, as well as synthetic income strategies from GraniteShares. The AQE Core ETF (AQEC) launched with significant Day 1 assets of $583.6M.
| Launch Date | Ticker | Fund Name | Category | AUM |
|---|---|---|---|---|
| 11/18/2025 | XRPM | Amplify XRP 3% Monthly Premium Income ETF | Non-Traditional: Synthetic Income | $0.8M |
| 11/18/2025 | SOLC | Canary Marinade Solana ETF | Digital Asset: Cryptocurrency | $0.8M |
| 11/18/2025 | SEMY | GraniteShares YieldBOOST Semiconductor ETF | Non-Traditional: Synthetic Income | $0.8M |
| 11/18/2025 | NUGY | GraniteShares YieldBOOST Gold Miners ETF | Non-Traditional: Synthetic Income | $0.8M |
| 11/18/2025 | FSOL | Fidelity Solana Fund | Digital Asset: Cryptocurrency | $0.0M |
| 11/18/2025 | AQEC | AQE Core ETF | Unclassified | $583.6M |
| 11/17/2025 | XXV | Simplify Ancorato Target 25 Distribution ETF | Unclassified | $5.0M |
| 11/17/2025 | TSCV | Thrivent Small Cap Value ETF | Equity: U.S. Small Cap – Value | $140.2M |
| 11/17/2025 | TMVE | Thrivent Mid Cap Value ETF | Equity: U.S. Mid Cap – Value | $6.7M |
| 11/17/2025 | TEST | YieldMax TSLA Performance & Distribution Target 25 ETF | Non-Traditional: Synthetic Income | $1.2M |
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.
Flow data is reported after close on a T+1 basis. This report’s data is as of November 19, 2025, and reflects create/redeem activity from Tuesday, November 18, 2025.
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.
