Note: Flow data is reported after market close on a T+1 basis. The flows in this report reflect create/redeem activity from Wednesday, September 3, 2025.
Market Flow Summary
The U.S. ETF market recorded a total net inflow of +$2.22B. The day’s activity was led by Vanguard, which attracted the highest net inflow among all issuers. The most significant individual fund inflow was seen in the Vanguard S&P 500 ETF (VOO). On the other side of the ledger, SPDR experienced the largest net outflow. The fund with the most substantial single-day redemption was the SPDR S&P 500 ETF Trust (SPY). The most notable high-velocity brand was Meridian, which saw outflows representing a significant portion of its assets under management.
Flow Summary by Asset Class
Fixed Income products led the way with over +$2.24B in net new assets, while Digital Assets also saw strong interest. Year-to-date, Equity remains the dominant asset class for inflows. The following table details the daily, monthly, and year-to-date flows for all classified asset classes, ranked by the most recent daily activity.
| Asset Class | 1D Flow | 1M Flow | YTD Flow |
| Fixed Income | +$2.24B | +$48.99B | +$264.40B |
| Digital Asset | +$279.88M | +$5.03B | +$31.57B |
| Non-Traditional | +$145.85M | +$3.57B | +$50.20B |
| Alternative | +$35.01M | +$779.28M | +$3.21B |
| Multi-Asset | +$10.71M | +$799.64M | +$3.37B |
| Currency | +$1.37M | -$101.50M | +$535.40M |
| Commodity | -$127.82M | +$7.13B | +$30.68B |
| Equity | -$391.71M | +$69.86B | +$417.24B |
Top/Bottom Five Category Flows
On a more granular level, Fixed Income categories focusing on core and ultrashort government debt captured the most significant inflows. Conversely, outflows were concentrated in U.S. Large Cap Growth and Blend equity categories.
Top 5 Category Inflows:
| Category | 1D Flow |
| Fixed Income: Taxable – Core | +$736.00M |
| Fixed Income: Taxable – Government Ultrashort | +$729.96M |
| Digital Asset: Cryptocurrency – Bitcoin | +$306.17M |
| Equity: Global Ex-U.S. Large Cap – Blend | +$304.73M |
| Fixed Income: Taxable – Emerging USD | +$203.69M |
Bottom 5 Category Outflows:
| Category | 1D Flow |
| Equity: U.S. Large Cap – Growth | -$620.51M |
| Equity: U.S. Large Cap – Blend | -$521.16M |
| Fixed Income: Taxable – Corporate | -$359.40M |
| Equity: Sector – Energy | -$189.48M |
| Equity: U.S. Mid Cap – Growth | -$182.25M |
ETF Issuer Flow Analysis
Vanguard led all issuers with +$1.74B in net inflows, representing +0.05% of its AUM. SPDR saw the largest net outflow at -$2.49B, or -0.15% of its AUM. Among high-velocity brands, Meridian stood out with an outflow of -$80.99M, which accounted for -5.94% of its total assets.
Top & Bottom 5 Brands by Net Daily Flow
Top 5 Brands by Inflows
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
| Vanguard | $3.52T | +$1.74B | +0.05% |
| iShares | $3.66T | +$1.33B | +0.04% |
| Schwab | $461.77B | +$902.41M | +0.20% |
| JPMorgan | $241.45B | +$387.11M | +0.16% |
| Capital Group | $86.06B | +$241.59M | +0.28% |
Bottom 5 Brands by Outflows
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
| SPDR | $1.67T | -$2.49B | -0.15% |
| Invesco | $726.85B | -$1.25B | -0.17% |
| Direxion | $51.24B | -$194.92M | -0.38% |
| VanEck | $101.61B | -$135.80M | -0.13% |
| Meridian | $1.28B | -$80.99M | -5.94% |
High-Velocity Brands (Aggregate AUM > $500M, 1D Flow > +/- 5% of AUM)
The following brands experienced daily flows representing more than 5% of their total assets under management.
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
| Meridian | $1.28B | -$80.99M | -5.94% |
| Main Funds | $3.53B | +$171.97M | +5.13% |
Significant Single-Fund Movements
The Vanguard S&P 500 ETF (VOO) collected the most assets with an inflow of +$1.23B. In contrast, the SPDR S&P 500 ETF Trust (SPY) experienced the largest redemption, with an outflow of -$2.35B.
Largest Absolute Daily Flows (Net Flows > $250M)
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
| Vanguard S&P 500 ETF (VOO) | $736.27B | +$1.23B | +0.17% |
| Schwab Core Bond ETF (SCCR) | $932.20M | +$563.42M | +152.78% |
| iShares 0-3 Month Treasury Bond ETF (SGOV) | $56.77B | +$371.47M | +0.66% |
| JPMorgan Limited Duration Bond ETF (JPLD) | $2.52B | +$313.20M | +14.21% |
| iShares Bitcoin Trust ETF (IBIT) | $83.97B | +$289.84M | +0.35% |
| iShares Core MSCI International Developed Markets ETF (IDEV) | $21.38B | +$267.89M | +1.27% |
| Vanguard Value ETF (VTV) | $144.38B | +$254.64M | +0.18% |
| SPDR Gold Shares (GLD) | $112.24B | -$261.93M | -0.23% |
| SPDR Dow Jones Industrial Average ETF Trust (DIA) | $38.95B | -$272.08M | -0.69% |
| SPDR Portfolio Short Term Corporate Bond ETF (SPSB) | $8.10B | -$283.44M | -3.38% |
| iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) | $30.11B | -$317.99M | -1.05% |
| Invesco Large Cap Growth ETF (PWB) | $1.56B | -$325.28M | -17.21% |
| Invesco QQQ Trust Series I (QQQ) | $359.68B | -$513.09M | -0.14% |
| SPDR S&P 500 ETF Trust (SPY) | $655.75B | -$2.35B | -0.36% |
High-Velocity Inflows (AUM > $100M, 1D Flow > +5% of AUM)
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
| Schwab Core Bond ETF (SCCR) | $932.20M | +$563.42M | +152.78% |
| SPDR S&P Retail ETF (XRT) | $428.29M | +$118.73M | +38.35% |
| Macquarie Focused Large Growth ETF (LRGG) | $401.02M | +$88.95M | +28.50% |
| Main BuyWrite ETF (BUYW) | $988.56M | +$168.22M | +20.51% |
| JPMorgan Limited Duration Bond ETF (JPLD) | $2.52B | +$313.20M | +14.21% |
| iShares iBonds Dec 2034 Term Treasury ETF (IBTP) | $171.05M | +$19.29M | +12.71% |
| LHA Market State Tactical Beta ETF (MSTB) | $174.27M | +$18.19M | +11.66% |
| Invesco China Technology ETF (CQQQ) | $1.42B | +$139.47M | +10.87% |
| Schwab High Yield Bond ETF (SCYB) | $1.61B | +$153.41M | +10.55% |
| Fairlead Tactical Sector ETF (TACK) | $291.15M | +$23.76M | +8.88% |
| SGI U.S. Large Cap Core ETF (SGLC) | $102.90M | +$8.20M | +8.66% |
| BrandywineGLOBAL – Dynamic US Large Cap Value ETF (DVAL) | $127.57M | +$10.09M | +8.59% |
| Schwab Government Money Market ETF (SGVT) | $119.37M | +$9.03M | +8.18% |
| Solana ETF (SOLZ) | $171.28M | +$10.86M | +6.77% |
| ProShares Short S&P500 (SH) | $1.12B | +$70.40M | +6.70% |
| ProShares UltraPro Short S&P500 (SPXU) | $572.28M | +$35.64M | +6.64% |
| ProShares Short QQQ (PSQ) | $550.98M | +$32.95M | +6.36% |
| YieldMax TSLA Option Income Strategy ETF (TSLY) | $1.17B | +$65.50M | +5.95% |
| TCW Compounders ETF (GRW) | $128.50M | +$7.21M | +5.94% |
| Innovator U.S. Equity Power Buffer ETF – September (PSEP) | $827.63M | +$43.23M | +5.51% |
| Tradr 2X Long CRWV Daily ETF (CWVX) | $155.82M | +$8.01M | +5.42% |
| KraneShares Quadratic Interest Rate Volatility and Inflation Hedge ETF (IVOL) | $401.20M | +$20.37M | +5.35% |
| Defiance Daily Target 2x Long MSTR ETF (MSTX) | $758.61M | +$38.36M | +5.33% |
High-Velocity Outflows (AUM > $100M, 1D Flow > -5% of AUM)
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
| LifeX 2035 Term Income ETF (LDDR) | $160.85M | -$58.93M | -26.82% |
| Distillate Small/Mid Cash Flow ETF (DSMC) | $105.24M | -$29.68M | -22.00% |
| Invesco Leisure and Entertainment ETF (PEJ) | $463.90M | -$105.15M | -18.48% |
| Invesco Large Cap Growth ETF (PWB) | $1.56B | -$325.28M | -17.21% |
| Invesco Large Cap Value ETF (PWV) | $1.40B | -$213.08M | -13.21% |
| Invesco Semiconductors ETF (PSI) | $834.91M | -$117.59M | -12.35% |
| Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) | $643.24M | -$79.87M | -11.05% |
| Invesco Building & Construction ETF (PKB) | $323.33M | -$35.32M | -9.85% |
| Tradr 2X Short TSLA Daily ETF (TSLQ) | $321.46M | -$30.78M | -8.74% |
| ETC 6 Meridian Hedged Equity Index Option ETF (SIXH) | $495.66M | -$44.09M | -8.17% |
| Amplius Aggressive Asset Allocation ETF (AAAA) | $228.34M | -$19.91M | -8.02% |
| ETC 6 Meridian Mega Cap Equity ETF (SIXA) | $424.98M | -$35.94M | -7.80% |
| iShares Currency Hedged MSCI Eurozone ETF (HEZU) | $665.67M | -$54.63M | -7.58% |
| Direxion Daily GOOGL Bull 2X Shares (GGLL) | $435.05M | -$33.13M | -7.08% |
| United States Brent Oil Fund LP (BNO) | $103.38M | -$7.60M | -6.85% |
| Direxion Daily FTSE China Bull 3X Shares (YINN) | $1.07B | -$70.09M | -6.17% |
Custom Analysis and Daily Data
The data summaries presented in this report were generated using the powerful dashboarding capabilities of the ETF Action Navigator tool. This institutional-grade platform provides users with the ability to conduct deep, customized analysis by filtering, sorting, and grouping the entire ETF universe across hundreds of distinct data points. From high-level asset class trends to granular single-fund metrics, Navigator allows for the creation of bespoke dashboards tailored to any workflow, ensuring you can track the flows and metrics that matter most to your strategy.
Large Flow Activity: Significant single-day inflows or outflows may not always represent typical market sentiment. Such anomalies can be linked to strategic actions, including tax-efficient rebalancing through custom create/redeem processes. Monitoring these flows over a multi-day period is recommended for a comprehensive analysis.
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.
