Equities Shine While Digital Assets Face $530M Drain

Issuer League Tables

Market activity for the period ending February 13, 2026, was highlighted by significant absolute inflows for the industry’s largest brands, led by SPDR with $6,242M. Conversely, Capital Group and Avantis experienced absolute daily outflows of $278M and $241M, respectively, contrasting with their positive one-year trends. On a relative basis, Transamerica led all issuers with a daily flow representing 33.21% of its AUM, while Monarch lagged with a relative reduction of 13.66% of its total assets. Overall, five of the top ten brands by AUM reported positive daily flows exceeding $400M.

Issuer Flows (Absolute)

Issuer Flows (Relative)

Daily ETF Flow Analysis

The total net daily flow for all asset classes reached $14,314M, primarily driven by a robust $10,307M influx into Equity ETFs. Fixed Income remained a major contributor with $3,589M in daily flows, sustaining a long-term growth trend that has reached $466.4B over the past year. Conversely, Digital Assets experienced a daily outflow of $530M, which follows a broader one-month decline of $2,846M in the category. The U.S. Large Cap Blend category dominated category-level leadership with $5,796M in net new assets for the day.

Asset Class Flows

Top/Bottom 10 Category Flows

U.S. Size & Style

Within the U.S. Size and Style segment, the SPY led all funds with a massive $6,609M inflow, significantly outpacing its weekly average. Large-cap blend strategies remained the clear favorites, attracting $5,796M as a category, while small-cap value strategies saw outflows of $176M. Heavyweight ETFs like IVV and VOO were the primary laggards, losing $1,129M and $978M respectively. This activity suggests a high concentration of flows among the top three U.S. equity funds for the day.

Size & Style ex-U.S.

International equity flows were centered on Emerging Markets, with the VWO attracting $292M, continuing its status as a high-AUM flow leader. The Global Ex-U.S. Large Cap Blend category led the subgroup with $445M in total daily flows, supported by a strong one-year inflow of $129.7B. On the downside, specialized international funds like TOUS and AVDV saw minor retreats, losing $17M and $16M respectively. Aggregate international size and style flows totaled $1,253M for the day.

Sector & Industry

Information Technology was the top-performing sector with $310M in net daily flows, further bolstered by the XLK’s $299M intake. Real Estate also showed strength with $227M in daily inflows, led primarily by the VNQ which added $132M. Conversely, Consumer Staples experienced significant outflows totaling $177M for the day, with the XLP accounting for $183M in redemptions. Overall, the Financials sector reported a daily loss of $219M, despite holding over $100B in total AUM.

Region & Country

The Asia-Pacific region dominated regional flows with a significant $982M influx, led by a strong interest in Japanese equity funds. The EWJ alone added $431M, while South Korean exposures via EWY followed with $201M in daily flows. Conversely, Chinese internet strategies experienced a pullback, with KWEB reporting outflows of $83M. Total daily flows for the Region & Country category reached $1,277M, supported by a one-month trend of $16,266M.

Thematic

Thematic equity flows were positive overall, with $91M in total daily activity led by the Precious Metals category at $146M. The ARKK was the top individual fund, bringing in $195M, while gold miner Exposure via GDX added $153M. Significant outflows were concentrated in thematic rotation strategies, specifically THRO, which lost $378M. Despite these specific fund redemptions, infrastructure and natural resources remained steady contributors with $138M and $32M in daily inflows, respectively.

Fixed Income

Fixed Income ETFs reported $3,589M in total daily flows, continuing their strong monthly momentum of $58.6B. Corporate debt strategies led the way with $1,250M in daily flows, highlighted by the $445M intake into LQD. In contrast, municipal bond funds saw a significant daily decline, with VTEB losing $234M. Intermediate-duration strategies remain the largest overall category by AUM, holding $1,396B and attracting $2,592M in flows during this period.

Commodity

The commodity asset class experienced a daily net outflow of $134M, largely driven by significant silver redemptions in SLV, which lost $356M. Gold remained a source of strength, with GLD leading all funds with $139M in daily inflows. Multi-sector broad market strategies reported a collective gain of $59M, while precious metals as a category reported a combined daily loss of $220M. Total commodity AUM currently stands at $394.1B, with precious metals representing over 90% of the total.

Cryptocurrency

The cryptocurrency segment faced a collective outflow of $530M for the day, largely concentrated in Bitcoin products. The IBIT reported the largest individual redemption at $158M, followed by FBTC at $104M. Minor positive activity was seen in altcoin and Solana-based strategies, with SOLZ adding $2M. Total digital asset flows have turned negative over both the one-week ($176M) and one-month ($2,846M) horizons.

Non-Traditional

Non-traditional ETFs recorded a daily inflow of $1,162M, significantly driven by synthetic income strategies which added $664M. The TQQQ led fund-level flows with $256M, while QQQI followed with $179M. In the leverage and inverse category, the SOXL experienced a heavy daily outflow of $255M. Total segment AUM stands at $403.9B, with over $85B in net inflows recorded over the past year.

Recent Launches

The ETF market continues its rapid expansion with 309 new launches in the past three months, including several specialized fixed-income and non-traditional funds. Recently launched products like FAAA and FCLO have already attracted millions in AUM within their first few days of trading. Leveraged single-stock strategies remain a dominant theme, as evidenced by several new Direxion daily bull 2X ETFs launched this week. Year-to-date, active ETFs continue to lead the launch landscape, accounting for 112 out of 128 new products.