Note: Flow data is reported after close on a T+1 basis. The flows in this report reflect create/redeem activity from Thursday, September 18, 2025.
As the special rebalancing period continues, readers should anticipate the potential for unusually large flow outliers. This activity can create significant noise in the daily data as large creations are often followed by corresponding redemptions in subsequent reports.
Market Flow Summary
The U.S. ETF market recorded a total net outflow of -$1.74 billion. The top issuer by inflow was iShares, which attracted $6.76 billion. The single fund with the largest inflow was the iShares Core S&P 500 ETF (IVV). On the other side of the ledger, Vanguard saw the largest outflows among issuers, shedding -$8.97 billion. The Vanguard S&P 500 ETF (VOO) experienced the most significant single-fund outflow. The most notable high-velocity brand was Roundhill, which saw inflows representing +4.73% of its aggregate assets under management.
Flow Summary by Asset Class
Commodity led all asset classes in daily inflows, attracting +$2.22 billion, followed by Fixed Income with +$1.35 billion. On a year-to-date basis, Equity remains the dominant asset class, having accumulated +$495.59 billion in net new assets.
| Asset Class | 1D Flow | 1M Flow | YTD Flow |
|---|---|---|---|
| Commodity | +$2.22B | +$8.72B | +$35.00B |
| Fixed Income | +$1.35B | +$40.52B | +$283.92B |
| Digital Asset | +$375.42M | +$4.43B | +$34.82B |
| Multi-Asset | +$72.49M | +$808.66M | +$3.84B |
| Alternative | +$19.32M | +$651.17M | +$3.57B |
| Currency | +$0.00 | -$26.84M | +$540.94M |
| Non-Traditional | -$1.81B | +$3.47B | +$49.35B |
| Equity | -$4.02B | +$112.10B | +$495.59B |
Top/Bottom Five Category Flows
Precious metals-focused commodity funds and U.S. small-cap blend strategies saw the most significant inflows, while U.S. large-cap blend and buffer equity funds experienced the largest redemptions.
Top 5 Category Inflows
| Category | 1D Flow |
|---|---|
| Commodity: Focused – Precious Metals | +$2.22B |
| Equity: U.S. Small Cap – Blend | +$1.24B |
| Equity: Sector – Financials | +$972.75M |
| Equity: Global Ex-U.S. Large Cap – Blend | +$808.71M |
| Non-Traditional: Synthetic Income – Equity | +$675.98M |
Bottom 5 Category Outflows
| Category | 1D Flow |
|---|---|
| Equity: U.S. Large Cap – Blend | -$3.83B |
| Non-Traditional: Buffer – Equity | -$1.70B |
| Equity: U.S. Mid Cap – Value | -$961.28M |
| Equity: U.S. Large Cap – Growth | -$945.57M |
| Equity: U.S. Large Cap – Value | -$924.10M |
ETF Issuer Flow Analysis
iShares led all issuers with a +$6.76 billion inflow, representing +0.18% of its AUM. Conversely, Vanguard experienced the largest outflow at -$8.97 billion, a -0.24% change in its AUM. Roundhill stood out as the top high-velocity brand, with an inflow of +$352.63 million translating to a significant +4.73% of its total AUM.
Notably, the significant and often volatile flows seen in ARK’s suite of ETFs have continued in recent weeks. These recurring large-scale movements suggest that some institutional investors may be using these products as a tactical vehicle to gain or shed exposure to a specific basket of disruptive technology stocks.
Top 5 Brands by Inflows
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| iShares | $3,762.79B | +$6.76B | +0.18% |
| Invesco | $763.07B | +$1.56B | +0.21% |
| Dimensional | $225.66B | +$431.28M | +0.19% |
| Roundhill | $7.82B | +$352.63M | +4.73% |
| Fidelity | $144.36B | +$315.57M | +0.22% |
Bottom 5 Brands by Outflows
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| Vanguard | $3,682.27B | -$8.97B | -0.24% |
| First Trust | $178.50B | -$2.99B | -1.65% |
| FT Vest | $44.33B | -$1.35B | -2.95% |
| Direxion | $55.53B | -$712.64M | -1.27% |
| ARK | $15.87B | -$158.33M | -0.99% |
High-Velocity Brands (Aggregate AUM > $500M, 1D Flow > +/- 5% of AUM)
| Issuer | Aggregate AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| Roundhill | $7.82B | +$352.63M | +4.73% |
Significant Single-Fund Movements
The iShares Core S&P 500 ETF (IVV) attracted the day’s largest inflow, gathering +$4.78 billion. The Vanguard S&P 500 ETF (VOO) saw the largest redemption, with an outflow of -$5.88 billion.
Largest Absolute Daily Flows (Net Flows > $250M)
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| Inflows | |||
| iShares Core S&P 500 ETF (IVV) | $655.86B | +$4.78B | +0.73% |
| SPDR Gold Shares (GLD) | $116.49B | +$2.21B | +1.94% |
| iShares Russell 2000 ETF (IWM) | $70.26B | +$1.33B | +1.94% |
| Invesco QQQ Trust Series I (QQQ) | $378.40B | +$982.72M | +0.26% |
| SPDR S&P Regional Banking ETF (KRE) | $4.29B | +$634.92M | +17.39% |
| iShares MSCI USA Value Factor ETF (VLUE) | $8.01B | +$502.01M | +6.69% |
| iShares U.S. Thematic Rotation Active ETF (THRO) | $6.33B | +$369.89M | +6.20% |
| iShares 20+ Year Treasury Bond ETF (TLT) | $47.96B | +$320.97M | +0.67% |
| Roundhill Magnificent Seven ETF (MAGS) | $3.30B | +$318.88M | +10.70% |
| VanEck Semiconductor ETF (SMH) | $32.27B | +$317.17M | +0.99% |
| Outflows | |||
| Vanguard S&P 500 ETF (VOO) | $792.28B | -$5.88B | -0.74% |
| SPDR S&P 500 ETF Trust (SPY) | $657.73B | -$3.11B | -0.47% |
| Vanguard Growth ETF (VUG) | $199.34B | -$1.72B | -0.86% |
| First Trust Rising Dividend Achievers ETF (RDVY) | $17.03B | -$1.24B | -6.78% |
| FT Vest U.S. Equity Buffer ETF – September (FSEP) | $991.31M | -$954.78M | -49.06% |
| First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) | $9.00B | -$751.32M | -7.70% |
| iShares MSCI EAFE Growth ETF (EFG) | $11.36B | -$641.18M | -5.34% |
| Vanguard Mid-Cap ETF (VO) | $90.37B | -$488.54M | -0.54% |
| Vanguard Value ETF (VTV) | $149.58B | -$431.95M | -0.29% |
| iShares MSCI USA Quality Factor ETF (QUAL) | $52.70B | -$403.24M | -0.76% |
High-Velocity Inflows (AUM > $100M, 1D Flow > +5% of AUM)
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| American Century Short Duration Strategic Income ETF (SDSI) | $108.47M | +$38.74M | +55.56% |
| Optimize Strategy Index ETF (OPTZ) | $298.82M | +$105.26M | +54.38% |
| Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) | $757.48M | +$233.07M | +44.44% |
| AAM Transformers ETF (TRFM) | $114.07M | +$19.42M | +20.51% |
| SPDR S&P Retail ETF (XRT) | $632.52M | +$106.15M | +20.17% |
| SPDR S&P Regional Banking ETF (KRE) | $4.29B | +$634.92M | +17.39% |
| Direxion Daily Semiconductor Bear 3x Shares (SOXS) | $1.51B | +$223.49M | +17.38% |
| YieldMax MARA Option Income Strategy ETF (MARO) | $149.71M | +$19.57M | +15.04% |
| Procure Space ETF (UFO) | $132.57M | +$17.22M | +14.93% |
| Defiance Connective Technologies ETF (SIXG) | $737.75M | +$86.79M | +13.33% |
| iShares MSCI Netherlands ETF (EWN) | $301.76M | +$31.31M | +11.58% |
| FT Vest SMID Rising Dividend Achievers Target Income ETF (SDVD) | $710.50M | +$72.37M | +11.34% |
| FT Vest Rising Dividend Achievers Target Income ETF (RDVI) | $2.60B | +$261.03M | +11.16% |
| Tradr 2X Long CRWV Daily ETF (CWVX) | $252.28M | +$25.27M | +11.13% |
| Bitwise Crypto Industry Innovators ETF (BITQ) | $444.54M | +$44.40M | +11.10% |
| Roundhill Magnificent Seven ETF (MAGS) | $3.30B | +$318.88M | +10.70% |
High-Velocity Outflows (AUM > $100M, 1D Flow > -5% of AUM)
| Fund (Ticker) | AUM | 1D Flow | 1D Flow as % of AUM |
|---|---|---|---|
| FT Vest U.S. Equity Buffer ETF – September (FSEP) | $991.31M | -$954.78M | -49.06% |
| FT Vest Nasdaq-100 Buffer ETF – September (QSPT) | $414.69M | -$331.13M | -44.40% |
| FT Vest U.S. Equity Deep Buffer ETF – September (DSEP) | $270.90M | -$207.03M | -43.32% |
| FT Vest U.S. Equity Moderate Buffer ETF – September (GSEP) | $213.53M | -$154.69M | -42.01% |
| T-Rex 2X Long HOOD Daily Target ETF (ROBN) | $193.59M | -$68.82M | -26.22% |
| Inspire Fidelis Multi Factor ETF (FDLS) | $105.36M | -$36.88M | -25.93% |
| FT Vest U.S. Equity Enhance & Moderate Buffer ETF – September (XSEP) | $128.76M | -$38.42M | -22.98% |
| Invesco MSCI North America Climate ETF (KLMN) | $2.26B | -$477.12M | -17.41% |
| VanEck Social Sentiment ETF (BUZZ) | $107.89M | -$14.91M | -12.14% |
| iShares MSCI EAFE Growth ETF (EFG) | $11.36B | -$641.18M | -5.34% |
| iShares ESG Advanced MSCI EAFE ETF (DMXF) | $707.85M | -$38.06M | -5.10% |
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.
