Equity and Fixed Income Capture $8.5B in Net Creations Amid $1B Digital Asset Outflow

Issuer League Tables

Vanguard emerged as the primary flow leader on January 22, 2026, recording $5,077M in net new assets, which represents 0.13% of its $3,972.54B AUM. Capital Group and First Trust followed with absolute daily inflows of $1,555M and $1,133M, respectively, while VanEck and Invesco rounded out the top five leaders. Conversely, SPDR faced significant absolute pressure with outflows of ($3,487M), contrasting with its one-year inflow trend of $93.63B. Allianz and Goldman Sachs also reported laggard performance, with Allianz seeing a relative AUM decline of 5.33% on the day.

Issuer Flows (Absolute)

Issuer Flows (Relative)

Daily ETF Flow Analysis

The Equity asset class led all categories with $6,145M in daily net inflows, contributing to a substantial $110,146M over the trailing one-month period. Fixed Income also saw positive participation with $2,431M in daily flows, while Digital Assets experienced the sharpest decline with outflows of ($964M) for the day. Total market activity for the period netted $8,554M across all eight asset classes, supported by strong monthly trends across Commodities and Non-Traditional segments. Total AUM for the U.S. listed ETF universe reached $13,841.2B as of the report date.

Asset Class Flows

Top 10 Category Flows

Bottom 10 Category Flows

U.S. Size & Style

U.S. Value strategies attracted $908M in daily net flows, with U.S. Large Cap Value leading the subgroup at $796M. In contrast, U.S. Large Cap Blend faced the largest category outflow within the section at ($2,473M), though it retains the largest AUM footprint at over $4 trillion. Small-cap blend funds saw a positive reversal with $545M in daily flows, while large-cap growth recorded $619M in creation activity. Vanguard’s S&P 500 ETF (VOO) was the top absolute leader, securing $1,340M in new assets.

Size & Style ex-U.S.

Global Ex-U.S. Large Cap Blend funds led all international size and style categories with $1,967M in daily net inflows. Emerging Large Cap funds also recorded robust demand, capturing $1,190M on the day and bringing year-to-date totals to $12,709M. Vanguard Total International Stock ETF (VXUS) paced the individual fund leaders with $662M in new assets, followed closely by iShares Core MSCI Emerging Markets ETF (IEMG) at $639M. Outflows in the segment were limited, with iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) seeing the largest daily redemption of ($66M).

Sector & Industry

Information Technology funds captured $679M in daily flows, with the VanEck Semiconductor ETF (SMH) leading all sector-specific peers with $563M in creation activity. Financials also displayed strength with $463M in daily inflows, primarily driven by the SPDR S&P Regional Banking ETF (KRE) which netted $242M. Several sectors faced selling pressure, most notably Communication Services which recorded outflows of ($146M) on the day. Real Estate and Utilities also lagged, with daily redemptions reaching ($108M) and ($134M), respectively.

Region & Country

Latin America focused funds led the regional segment with $373M in daily net inflows, anchored by $174M for the iShares MSCI Brazil ETF (EWZ). Asia-Pacific funds followed with $215M in daily activity, with the iShares MSCI South Korea ETF (EWY) contributing $137M of that total. Eurozone funds saw minor outflows of ($6M), a stark contrast to its trailing one-year inflow of $920M. Individual country laggards included the Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR), which saw redemptions of ($12M).

Thematic

Natural Resources emerged as the leading thematic category on January 22, capturing $347M in net new assets. Infrastructure and Industrial Revolution themes followed closely with daily inflows of $140M and $106M, respectively, while Disruptive Tech faced net outflows of ($17M). The ARK Innovation ETF (ARKK) led all individual thematic funds with $92M in daily inflows, reversing shorter-term trends. Conversely, the ARK Next Generation Internet ETF (ARKW) was the primary laggard, reporting daily redemptions of ($36M).

Fixed Income

Fixed Income Multi-Sector funds captured $1,353M in daily net inflows, while the Government bond segment faced a daily contraction of ($225M). Intermediate duration funds saw the highest demand by term, recording $1,420M in daily inflows compared to redemptions of ($624M) in long-duration vehicles. Vanguard Short-Term Corporate Bond ETF (VCSH) was the absolute flow leader with $399M in new assets. Conversely, the iShares 20+ Year Treasury Bond ETF (TLT) experienced the largest redemption, losing ($498M) in daily net assets.

Commodity

Precious Metals led all commodity sub-categories with $518M in daily net inflows, bringing year-to-date creation activity for the group to $2,654M. Industrial Metals and Multi-Sector commodities also recorded positive flows of $7M and $66M, respectively, while Energy commodities faced outflows of ($125M). SPDR Gold Shares (GLD) was the individual fund leader with $313M in new assets. Outflows were most pronounced in the iShares Silver Trust (SLV), which recorded redemptions totaling ($189M) for the day.

Cryptocurrency

The Cryptocurrency asset class experienced net daily outflows of ($964M), primarily driven by weakness in Bitcoin and Ethereum funds. Bitcoin strategies faced redemptions of ($703M), while Ethereum-linked funds saw daily outflows of ($270M). In contrast, Altcoin strategies recorded a slight daily inflow of $8M, contributing to a one-year flow total for the category of $3,520M. The iShares Bitcoin Trust ETF (IBIT) led all laggards with daily redemptions of ($357M), whereas ProShares Ether ETF (EETH) recorded minor inflows of $29M.

Non-Traditional

Synthetic Income strategies dominated the non-traditional segment with $384M in daily net flows, contributing to a YTD total of $4,857M. Leverage and Inverse funds also saw positive participation with $157M in net daily inflows, despite a longer-term YTD outflow of ($4,723M). Buffer strategies saw significant pressure, however, with redemptions of ($203M) on the day. The ProShares Ultra Silver (AGQ) and ProShares UltraShort Bloomberg Natural Gas (KOLD) were the primary fund leaders, capturing $131M and $130M, respectively.

Recent Launches

The final three weeks of January 2026 saw a steady clip of new product entries, with T-Rex launching the Laddered T-Bill ETF (TLDR) on January 21. Defiance and Amplify also introduced niche income and leveraged strategies, with the Amplify HACK Cybersecurity Covered Call ETF (HAKY) entering with $1.5M in seed AUM. Active management continues to dominate the launch landscape, representing 37 of the 46 YTD launches as of the report date. New issuers like Income STKd and LOGIQ have also made their market debuts during this period.