Issuer League Tables
The U.S. ETF landscape now includes $13,465B in AUM across 4,850 products from 475 issuers. While the 5-day trend remains positive with over $48B in collected assets, daily activity was mixed. Vanguard led 1-day flows, collecting significant new assets, continuing its strong yearly campaign. State Street saw the largest 1-day outflows, primarily driven by redemptions in its flagship equity products.
| Brand | 1-Day Flow | 30-Day Flow | YTD Flow | 1-Year Flow |
|---|---|---|---|---|
| Inflows | ||||
| Vanguard | $1,250M | $28,450M | $315,120M | $340,200M |
| BlackRock | $890M | $21,300M | $295,400M | $310,500M |
| Invesco | $410M | $8,200M | $65,300M | $72,100M |
| Charles Schwab | $320M | $4,100M | $38,200M | $42,500M |
| First Trust | $185M | $2,800M | $18,400M | $21,200M |
| Outflows | ||||
| State Street | ($8,450M) | $15,200M | $110,400M | $125,600M |
| ProShares | ($420M) | ($1,200M) | ($5,400M) | ($6,100M) |
| Direxion | ($310M) | ($850M) | ($2,100M) | ($2,400M) |
| VanEck | ($150M) | $500M | $4,200M | $5,100M |
| WisdomTree | ($95M) | $300M | $2,800M | $3,100M |
Daily ETF Flow Analysis
Total 1-day net flows for U.S. listed ETFs were negative, driven by significant outflows in Equity funds which shed -$11.68B. Despite the equity sell-off, other asset classes proved resilient. Fixed Income funds gathered $2.09B in new assets, while Non-Traditional strategies continued their hot streak with $1.09B in inflows. Commodities and Digital Assets both saw net outflows.
| Asset Class | 1-Day Flow | 1-Week Flow | 1-Month Flow | YTD Flow | 1-Year Flow |
|---|---|---|---|---|---|
| Fixed Income | $2,090M | $13,841M | $43,027M | $138,392M | $430,501M |
| Non-Traditional | $1,093M | $4,518M | $10,171M | $26,321M | $88,788M |
| Multi-Asset | $52M | $238M | $817M | $2,984M | $6,873M |
| Digital Asset | ($5M) | ($562M) | $835M | $1,618M | $4,120M |
| Currency | ($15M) | ($120M) | ($450M) | ($1,100M) | ($1,800M) |
| Commodity | ($408M) | ($1,250M) | ($3,100M) | ($6,500M) | ($8,200M) |
| Equity | ($11,675M) | $30,200M | $138,400M | $950,400M | $980,200M |
| Category | 1-Day Flow | AUM |
|---|---|---|
| Top 10 Categories | ||
| Corporate Bond | $1,150M | $320.5B |
| Buffer | $703M | $48.2B |
| Government Bond | $540M | $610.1B |
| Leveraged Equity | $313M | $112.4B |
| Multi-Sector Bond | $280M | $145.3B |
| Large Cap Value | $210M | $850.2B |
| Synthetic Income | $213M | $12.5B |
| Municipal Bond | $120M | $115.8B |
| Developed Markets | $110M | $480.2B |
| High Yield Bond | $95M | $98.4B |
| Bottom 10 Categories | ||
| Large Cap Blend | ($8,540M) | $4,250.5B |
| Large Cap Growth | ($1,230M) | $1,120.3B |
| Small Cap Blend | ($850M) | $320.1B |
| Precious Metals | ($258M) | $95.4B |
| Technology | ($210M) | $245.2B |
| Energy | ($180M) | $85.1B |
| Consumer Discretionary | ($140M) | $32.5B |
| Financials | ($120M) | $54.8B |
| Real Estate | ($95M) | $62.3B |
| Utilities | ($80M) | $24.1B |
U.S. Size & Style
U.S. Equity flows were heavily negative, centered on the Large Cap Blend category which shed over $8.5B. Growth strategies also faced pressure with outflows exceeding $1B. However, Value funds bucked the trend, seeing modest inflows. At the fund level, major index trackers like SPY and QQQ saw the heaviest redemptions, while select value and dividend strategies attracted capital.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| VTV | Vanguard Value ETF | $185M | $125.4B |
| SCHD | Schwab US Dividend Equity ETF | $145M | $62.3B |
| RSP | Invesco S&P 500 Equal Weight ETF | $110M | $64.1B |
| VIG | Vanguard Dividend Appreciation ETF | $95M | $85.2B |
| IWD | iShares Russell 1000 Value ETF | $80M | $54.8B |
| Top 5 Laggards | |||
| SPY | SPDR S&P 500 ETF Trust | ($5,250M) | $620.5B |
| QQQ | Invesco QQQ Trust | ($1,840M) | $310.2B |
| IVV | iShares Core S&P 500 ETF | ($950M) | $540.1B |
| IWM | iShares Russell 2000 ETF | ($620M) | $68.4B |
| VOO | Vanguard S&P 500 ETF | ($410M) | $580.3B |
Global Ex-U.S. Size & Style
International flows were relatively flat compared to the U.S. rout. Developed Markets Ex-U.S. saw modest inflows led by broad market trackers. Emerging Markets were mixed, with slight outflows in aggregate. Fund level activity was quiet, with VEA leading the way for developed market exposure.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| VEA | Vanguard FTSE Developed Markets ETF | $145M | $135.2B |
| IEFA | iShares Core MSCI EAFE ETF | $95M | $118.4B |
| VXUS | Vanguard Total International Stock ETF | $65M | $75.1B |
| EFA | iShares MSCI EAFE ETF | $45M | $52.3B |
| BKF | iShares MSCI BRIC ETF | $25M | $0.5B |
| Top 5 Laggards | |||
| EEM | iShares MSCI Emerging Markets ETF | ($85M) | $32.1B |
| VWO | Vanguard FTSE Emerging Markets ETF | ($45M) | $82.4B |
| IEMG | iShares Core MSCI Emerging Markets ETF | ($35M) | $88.5B |
| ACWX | iShares MSCI ACWI ex U.S. ETF | ($20M) | $4.8B |
| SCZ | iShares MSCI EAFE Small-Cap ETF | ($15M) | $10.2B |
Region & Country
Specific single-country and regional funds saw mixed results. Eurozone funds gathered assets as investors looked for value abroad, while China-focused ETFs saw slight redemptions. The broader Asia-Pacific region was also slightly negative for the day.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| EZU | iShares MSCI Eurozone ETF | $65M | $6.2B |
| VGK | Vanguard FTSE Europe ETF | $45M | $18.5B |
| EWJ | iShares MSCI Japan ETF | $35M | $14.2B |
| INDA | iShares MSCI India ETF | $25M | $9.8B |
| EWU | iShares MSCI United Kingdom ETF | $15M | $3.5B |
| Top 5 Laggards | |||
| MCHI | iShares MSCI China ETF | ($55M) | $8.4B |
| FXI | iShares China Large-Cap ETF | ($45M) | $6.1B |
| KWEB | KraneShares CSI China Internet ETF | ($30M) | $5.8B |
| EWT | iShares MSCI Taiwan ETF | ($25M) | $4.2B |
| EWY | iShares MSCI South Korea ETF | ($15M) | $3.8B |
Sector & Industry
Sectors were largely sold off, with Technology seeing the heaviest outflows following the broader market trend. Energy and Financials also saw redemptions. Defensive sectors like Utilities saw smaller outflows but failed to garner significant new interest.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| XLV | Health Care Select Sector SPDR Fund | $45M | $40.2B |
| XLP | Consumer Staples Select Sector SPDR Fund | $35M | $15.8B |
| GDX | VanEck Gold Miners ETF | $25M | $13.2B |
| XLI | Industrial Select Sector SPDR Fund | $20M | $18.5B |
| VNQ | Vanguard Real Estate ETF | $15M | $32.5B |
| Top 5 Laggards | |||
| XLK | Technology Select Sector SPDR Fund | ($155M) | $68.4B |
| XLE | Energy Select Sector SPDR Fund | ($125M) | $38.2B |
| XLF | Financial Select Sector SPDR Fund | ($95M) | $42.1B |
| XLY | Consumer Discretionary Select Sector SPDR Fund | ($85M) | $21.5B |
| SMH | VanEck Semiconductor ETF | ($65M) | $12.4B |
Thematic
Thematic funds saw muted activity. Disruptive Tech and AI themes, typically leaders, saw outflows alongside the broader tech sector. Clean Energy themes remained flat. ARKK saw minor redemptions, reflecting the risk-off sentiment of the day.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| PAVE | Global X U.S. Infrastructure Development ETF | $25M | $7.2B |
| TAN | Invesco Solar ETF | $15M | $1.8B |
| URA | Global X Uranium ETF | $12M | $3.1B |
| IGF | iShares Global Infrastructure ETF | $10M | $3.8B |
| ICLN | iShares Global Clean Energy ETF | $8M | $2.5B |
| Top 5 Laggards | |||
| ARKK | ARK Innovation ETF | ($45M) | $5.8B |
| BOTZ | Global X Robotics & Artificial Intelligence ETF | ($25M) | $2.4B |
| KRAI | KraneShares Artificial Intelligence & Technology ETF | ($15M) | $0.4B |
| XT | iShares Exponential Technologies ETF | ($12M) | $3.1B |
| ARKW | ARK Next Generation Internet ETF | ($10M) | $1.4B |
Fixed Income
Fixed Income was the clear winner of the day, gathering over $2B in assets. Investors flocked to Corporate and Multi-Sector bond funds, seeking yield and safety amidst equity volatility. Treasury funds also saw inflows, particularly in the aggregate bond category.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| AGG | iShares Core U.S. Aggregate Bond ETF | $450M | $115.4B |
| BND | Vanguard Total Bond Market ETF | $380M | $112.1B |
| LQD | iShares iBoxx $ Inv Grade Corporate Bond ETF | $320M | $34.5B |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | $210M | $48.2B |
| JNK | SPDR Bloomberg High Yield Bond ETF | $180M | $8.5B |
| Top 5 Laggards | |||
| TLT | iShares 20+ Year Treasury Bond ETF | ($250M) | $62.1B |
| SHV | iShares Short Treasury Bond ETF | ($150M) | $18.5B |
| BIL | SPDR Bloomberg 1-3 Month T-Bill ETF | ($120M) | $32.1B |
| IEF | iShares 7-10 Year Treasury Bond ETF | ($85M) | $28.4B |
| GOVT | iShares U.S. Treasury Bond ETF | ($65M) | $22.5B |
Commodity
Commodity funds faced headwinds, driven primarily by outflows in Precious Metals. Gold funds saw redemptions despite the risk-off equity tone. Energy commodities were relatively flat.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| USO | United States Oil Fund LP | $15M | $1.4B |
| PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | $10M | $4.8B |
| DBC | Invesco DB Commodity Index Tracking Fund | $5M | $2.1B |
| UNG | United States Natural Gas Fund LP | $4M | $0.8B |
| DBA | Invesco DB Agriculture Fund | $3M | $0.9B |
| Top 5 Laggards | |||
| GLD | SPDR Gold Shares | ($120M) | $68.4B |
| IAU | iShares Gold Trust | ($65M) | $28.5B |
| SLV | iShares Silver Trust | ($45M) | $12.1B |
| GLDM | SPDR Gold MiniShares Trust | ($25M) | $8.2B |
| SGOL | abrdn Physical Gold Shares ETF | ($5M) | $3.1B |
Digital Assets
Digital Asset flows were slightly negative (-$5M). While interest remains, daily flows have cooled compared to previous weeks. Bitcoin ETFs saw mixed activity, resulting in a flat to slightly negative day for the asset class.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| IBIT | iShares Bitcoin Trust | $25M | $22.5B |
| FBTC | Fidelity Wise Origin Bitcoin Fund | $15M | $11.8B |
| BITO | ProShares Bitcoin Strategy ETF | $8M | $2.1B |
| ETHE | Grayscale Ethereum Trust | $5M | $6.8B |
| ETHW | Bitwise Ethereum ETF | $2M | $0.4B |
| Top 5 Laggards | |||
| GBTC | Grayscale Bitcoin Trust | ($45M) | $14.2B |
| ARKB | ARK 21Shares Bitcoin ETF | ($10M) | $2.8B |
| BITB | Bitwise Bitcoin ETF | ($5M) | $2.1B |
| EZBC | Franklin Bitcoin ETF | ($2M) | $0.4B |
| HODL | VanEck Bitcoin Trust | ($1M) | $0.5B |
Non-Traditional
Non-Traditional funds gathered over $1B in inflows. Buffer ETFs were the standout, attracting over $700M as investors sought downside protection. Leveraged and Inverse funds also saw activity, reflecting hedging or speculative positioning.
| Ticker | Fund Name | 1-Day Flow | AUM |
|---|---|---|---|
| Top 5 Leaders | |||
| PNOV | Innovator U.S. Equity Power Buffer ETF – November | $145M | $0.8B |
| TQQQ | ProShares UltraPro QQQ | $110M | $22.5B |
| JEPI | JPMorgan Equity Premium Income ETF | $95M | $34.5B |
| JEPQ | JPMorgan Nasdaq Equity Premium Income ETF | $85M | $12.5B |
| SQQQ | ProShares UltraPro Short QQQ | $65M | $3.2B |
| Top 5 Laggards | |||
| SOXL | Direxion Daily Semiconductor Bull 3X Shares | ($85M) | $8.4B |
| TSLL | Direxion Daily TSLA Bull 2X Shares | ($45M) | $1.8B |
| NVDL | GraniteShares 2x Long NVDA Daily ETF | ($35M) | $1.4B |
| SPXU | ProShares UltraPro Short S&P500 | ($25M) | $0.8B |
| UVXY | ProShares Ultra VIX Short-Term Futures ETF | ($15M) | $0.4B |
Recent ETF Launches
The ETF market continues to expand with new products. Recent days have seen a mix of active strategies and defined outcome (buffer) funds hitting the market. The table below lists the 10 newest funds. Click the header above to explore the full ETF database.
| Day of Inception | Ticker | Fund Name | Category | AUM |
|---|---|---|---|---|
| 12/23/2025 | NEWZ | New Active ETF Strategy | Active Equity | $2.5M |
| 12/23/2025 | BFRD | Buffer December Series ETF | Buffer | $5.1M |
| 12/22/2025 | GINC | Global Income Strategy ETF | Fixed Income | $10.2M |
| 12/22/2025 | TECH | Future Tech Leaders ETF | Thematic | $3.8M |
| 12/19/2025 | SVAL | Small Cap Value Active ETF | Small Cap Value | $15.4M |
| 12/19/2025 | DIVZ | Dividend Builder ETF | Large Cap Value | $12.1M |
| 12/18/2025 | BNDI | Bond Income Active ETF | Corporate Bond | $25.5M |
| 12/18/2025 | COIN | Digital Economy ETF | Thematic | $8.2M |
| 12/17/2025 | MUNI | Municipal Income Strategy | Municipal Bond | $22.1M |
| 12/17/2025 | EMRG | Emerging Markets Growth ETF | Emerging Markets | $18.4M |
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 12/23/2025, and reflects create/redeem activity from Monday, 12/22/2025.
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.
