The U.S. Size & Style ETF market, a cornerstone of domestic equity investing, encompasses 882 ETFs from 235 distinct issuers, with total Assets Under Management (AUM) reaching $6.58 trillion. This past week highlighted a clear divergence in performance and investor sentiment. Mid-cap growth stocks led the performance charts, albeit with modest gains, while investors demonstrated a strong preference for the perceived safety of large-cap blend strategies, which attracted the lion’s share of new capital. Across the channel, ETFs saw a net inflow of $9.64 billion for the week, bringing year-to-date (YTD) net flows to $274.27 billion and the total for the past year to $571.57 billion.
Weekly Performance & Flows Recap
The week’s performance narrative was characterized by narrow spreads, with U.S. Mid-Cap Growth emerging as the strongest segment, posting a week-to-date (WTD) return of +0.15%. On the other end of the spectrum, U.S. Mid-Cap Blend was the weakest, declining by -0.18%. Over a one-year period, U.S. Large-Cap Growth remains the undisputed leader with a return of +18.40%. On the flows front, the channel attracted a total of $9.64 billion in net inflows over the last five trading days. U.S. Large-Cap Blend funds were the primary beneficiaries, pulling in +$3.64 billion, boosting their YTD total to an impressive +$163.90 billion. In contrast, U.S. Small-Cap Growth was the only category to see net withdrawals, with outflows of -$61 million, deepening its YTD outflow total to -$2.22 billion.
U.S. Large Cap | AUM: $5,640.1B
Returns (As of 8/29/2025):
- Growth: WTD: -0.06% | 3-Month: +9.28% | YTD: +10.48%
- Blend: WTD: -0.14% | 3-Month: +8.20% | YTD: +9.18%
- Value: WTD: -0.16% | 3-Month: +8.23% | YTD: +9.16%
Top 3 Performers (WTD):
- ProShares Equities for Rising Rates ETF (EQRR): +1.74%
- Innovator IBD 50 ETF (FFTY): +1.60%
- Nightview Fund NITE (NITE): +1.45%
Bottom 3 Performers (WTD):
- Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF (SZNE): -2.00%
- Invesco QQQ Low Volatility ETF (QQLV): -1.99%
- VictoryShares Dividend Accelerator ETF (VSDA): -1.67%
Flows (As of 8/28/2025):
- Growth: 5-Day: +$507M | 90-Day: +$25,195M | YTD: +$75,282M
- Blend: 5-Day: +$3,644M | 90-Day: +$68,016M | YTD: +$163,900M
- Value: 5-Day: +$1,634M | 90-Day: +$7,791M | YTD: +$33,672M
Top 3 Inflows (5-Day):
- SPDR Portfolio S&P 500 ETF (SPLG): +$878M
- Invesco S&P 500 Equal Weight ETF (RSP): +$626M
- Invesco MSCI USA ETF (PBUS): +$433M
Top 3 Outflows (5-Day):
- Invesco QQQ Trust Series I (QQQ): -$2,244M
- iShares Core S&P 500 ETF (IVV): -$230M
- Pacer US Cash Cows 100 ETF (COWZ): -$177M
U.S. Mid Cap | AUM: $486.1B
Returns (As of 8/29/2025):
- Growth: WTD: +0.15% | 3-Month: +8.45% | YTD: +7.78%
- Blend: WTD: -0.18% | 3-Month: +9.10% | YTD: +6.51%
- Value: WTD: -0.04% | 3-Month: +10.47% | YTD: +6.82%
Top 3 Performers (WTD):
- Invesco S&P MidCap Value with Momentum ETF (XMVM): +3.02%
- Alger Mid Cap 40 ETF (FRTY): +1.99%
- Concourse Capital Focused Equity ETF (CCFE): +1.29%
Bottom 3 Performers (WTD):
- Virtus KAR Mid-Cap ETF (KMID): -1.41%
- Motley Fool Mid-Cap Growth ETF (TMFM): -1.18%
- Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG): -1.02%
Flows (As of 8/28/2025):
- Growth: 5-Day: +$36M | 90-Day: +$814M | YTD: +$503M
- Blend: 5-Day: +$789M | 90-Day: +$4,879M | YTD: +$15,875M
- Value: 5-Day: +$112M | 90-Day: +$556M | YTD: +$1,106M
Top 3 Inflows (5-Day):
- Vanguard Mid-Cap ETF (VO): +$172M
- SPDR S&P Midcap 400 ETF Trust (MDY): +$166M
- iShares Russell Midcap ETF (IWR): +$96M
Top 3 Outflows (5-Day):
- iShares S&P Mid-Cap 400 Growth ETF (IJK): -$14M
- iShares S&P Mid-Cap 400 Value ETF (IJJ): -$13M
- First Trust Mid Cap Core AlphaDEX Fund (FNX): -$12M
U.S. Small Cap | AUM: $451.8B
Returns (As of 8/29/2025):
- Growth: WTD: -0.03% | 3-Month: +11.08% | YTD: +6.01%
- Blend: WTD: -0.10% | 3-Month: +11.67% | YTD: +5.91%
- Value: WTD: +0.02% | 3-Month: +13.74% | YTD: +4.51%
Top 3 Performers (WTD):
- Invesco S&P Smallcap 600 Pure Value ETF (RZV): +1.02%
- Federated Hermes MDT Small Cap Core ETF (FSCC): +0.76%
- VictoryShares US Small Mid Cap Value Momentum ETF (USVM): +0.72%
Bottom 3 Performers (WTD):
- Bahl & Gaynor Small Cap Dividend ETF (SCDV): -1.69%
- Harbor Active Small Cap ETF (SMLL): -1.25%
- Argent Focused Small Cap ETF (ALIL): -1.00%
Flows (As of 8/28/2025):
- Growth: 5-Day: -$61M | 90-Day: -$376M | YTD: -$2,220M
- Blend: 5-Day: +$2,482M | 90-Day: -$6,009M | YTD: -$10,421M
- Value: 5-Day: +$122M | 90-Day: -$732M | YTD: -$3,808M
Top 3 Inflows (5-Day):
- iShares Russell 2000 ETF (IWM): +$1,509M
- iShares Core S&P Small Cap ETF (IJR): +$224M
- SPDR Portfolio S&P 600 Small Cap ETF (SPSM): +$213M
Top 3 Outflows (5-Day):
- Pacer US Small Cap Cash Cows ETF (CALF): -$48M
- Invesco S&P SmallCap Momentum ETF (XSMO): -$37M
- iShares S&P Small-Cap 600 Value ETF (IJS): -$20M
Issuer and Product Landscape
The U.S. Size & Style ETF market remains concentrated among a few key players. The top three issuers by market share are Vanguard (34.10%), iShares (27.59%), and SPDR (14.65%), collectively controlling over 76% of the channel’s assets. In the past week, iShares was the leader in attracting new capital, with net inflows of +$2.47 billion.
Product development has remained active, with 31 new ETFs launched over the past three months. Bluemonte led this activity with four new funds. Conversely, there were 6 ETF closures over the same period, with Foundations liquidating the most products (3).
Weekly Issuer Flow Leaders:
Top 3 Inflows:
- iShares: 5-Day: +$2,473M | 30-Day: +$9,269M | YTD: +$20.31B
- Vanguard: 5-Day: +$1,964M | 30-Day: +$19,701M | YTD: +$143.72B
- SPDR: 5-Day: +$1,845M | 30-Day: -$6,744M | YTD: -$5.51B
Top 3 Outflows:
- Invesco: 5-Day: -$239M | 30-Day: +$6,842M | YTD: +$30.96B
- Pacer: 5-Day: -$224M | 30-Day: -$1,170M | YTD: -$7.27B
- VanEck: 5-Day: -$41M | 30-Day: -$149M | YTD: -$3.03B
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.
