QQQ and Large-Cap Growth Propel $12.3B in Daily Equity ETF Inflows

Issuer League Tables

Invesco led all issuers with $4,797M in daily inflows, driving its year-to-date total to $24.85B. iShares and SPDR followed closely, capturing $2,838M and $2,630M respectively in single-day allocations. On the relative front, TappAlpha experienced a massive 35.56% daily AUM increase on $182M of inflows. Conversely, VanEck lagged on an absolute basis with outflows of $670M, while Gadsden saw the steepest relative decline at -8.42% of AUM.

Issuer Flows (Absolute)

Issuer Flows (Relative to AUM)

Daily ETF Flow Analysis

U.S. Large Cap Growth led the category flows with $5,049M gathered in a single session, lifting total Equity inflows to $12,341M. Fixed Income trailed but remained firmly positive, taking in $2,791M largely driven by $558M entering Taxable Corporate products. The Financials sector experienced the heaviest single-day redemptions, bleeding $816M. Overall total market flows reached $16,109M for the session, contributing to a massive $699,235M in year-to-date net new assets.

Asset Class Flows

Top/Bottom 10 Category Flows

U.S. Size & Style

The Invesco QQQ Trust Series I (QQQ) dominated the segment, taking in $4,031M to reach an AUM of $467.3B. Broad market S&P 500 trackers SPY and IVV followed with a combined $3,701M in net daily additions. Small-cap and value segments faced headwinds, highlighted by $685M exiting the iShares Russell 2000 ETF (IWM). The SPDR Dow Jones Industrial Average ETF (DIA) also shed $273M as investors rotated allocations.

Size & Style ex-U.S.

International developed markets attracted solid capital, led by the iShares Core MSCI EAFE ETF (IEFA) which gathered $388M. The iShares Core MSCI International Developed Markets ETF (IDEV) and iShares MSCI Intl Value Factor ETF (IVLU) secured $107M and $101M, respectively. Outflows were relatively muted across the segment but were paced by the Alpha Architect International Quantitative Momentum ETF (IMOM) losing $54M. Value-oriented strategies like the Cambria Global Value ETF (GVAL) recorded minor redemptions of $11M.

Sector & Industry

Retail and semiconductor funds topped the sector flows, with the SPDR S&P Retail ETF (XRT) securing $163M. The iShares Semiconductor ETF (SOXX) added $160M, contrasting sharply with its peer, the VanEck Semiconductor ETF (SMH), which shed a sector-leading $605M. Regional banks faced steep divestment as the SPDR S&P Regional Banking ETF (KRE) registered $432M in net outflows. Financials more broadly struggled, evidenced by $276M departing the Financial Select Sector SPDR ETF (XLF).

Region & Country

The iShares MSCI Taiwan ETF (EWT) captured $242M in net new assets to lead the international region category. The KraneShares CSI China Internet ETF (KWEB) also demonstrated strong daily momentum with $151M in inflows. Conversely, the Vanguard FTSE Pacific ETF (VPL) recorded the largest daily reduction, shedding $114M. The iShares MSCI South Korea ETF (EWY) and iShares MSCI China ETF (MCHI) followed with outflows of $105M and $70M, respectively.

Thematic

The Roundhill Memory ETF (DRAM) was the absolute standout in thematic investing, absorbing $903M to propel its AUM to $6.22B. The ARK Innovation ETF (ARKK) also saw renewed interest, capturing $172M in a single session. On the downside, agribusiness and cryptocurrency themes lagged the broader market. The VanEck Agribusiness ETF (MOO) shed $82M, while the Bitwise Crypto Industry Innovators ETF (BITQ) recorded $35M in redemptions.

Fixed Income

Short-duration government debt remained heavily utilized, with the iShares 0-3 Month Treasury Bond ETF (SGOV) gathering $342M. High yield credit also attracted strong allocations as the SPDR Bloomberg High Yield Bond ETF (JNK) took in $250M. Floating rate and long-duration treasuries comprised the bottom of the ledger. The iShares Treasury Floating Rate Bond ETF (TFLO) lost $101M, while the iShares 20+ Year Treasury Bond ETF (TLT) declined by $86M.

Commodity

Physical gold products commanded the commodity flows, with the SPDR Gold Shares (GLD) leading the group by adding $304M. The iShares Silver Trust (SLV) followed with $87M in net daily creations. Broad commodity index trackers faced the heaviest selling pressure across the category. The Invesco DB Commodity Index Tracking Fund (DBC) and the Invesco DB Agriculture Fund (DBA) shed $34M and $27M, respectively.

Cryptocurrency

Active management within crypto led the way as the Morgan Stanley Bitcoin Trust ETF (MSBT) secured $26M. The Bitwise Solana Staking ETF (BSOL) also saw positive daily activity with $22M in new assets. Conversely, Ethereum products faced isolated selling pressure during the session. The Grayscale Ethereum Staking ETF (ETHE) lost $8M, while the heavily traded iShares Bitcoin Trust ETF (IBIT) shed $7M.

Non-Traditional

Leveraged semiconductor products dominated both sides of the ledger in the non-traditional space. The Direxion Daily MU Bull 2X ETF (MUU) led all peers with $215M in net inflows. At the same time, the Direxion Daily Semiconductor Bull 3X ETF (SOXL) bled $400M to mark the largest outflow in the category. The Direxion Daily TSLA Bull 2X ETF (TSLL) also faced significant redemptions, losing $177M.

Recent Launches

The pace of new product development remains robust, with a diverse mix of thematic and buffer strategies coming to market. The WisdomTree Efficient Rare Earth Plus Strategic Metals Fund (WDIG) debuted with an initial $8.20M in AUM. Corgi expanded its thematic suite significantly on May 6th, introducing multiple funds including the Corgi Longevity Consumer ETF (YUNG) and Corgi U.S. War Machine ETF (WR). Pacer also expanded its AI-driven lineup with the launch of the Pacer S&P World 3AI Top 300 ETF (WDAI).