Equities Absorb $5.7B While Fixed Income and Commodities Face Redemptions

Issuer League Tables

The daily flows exhibit strong localized activity, with iShares absorbing $2,245M to rank as the leading issuer by absolute net inflows. On a relative basis, Transamerica recorded an exceptional 51.37% expansion of its assets under management, demonstrating concentrated inbound capital over the single session. Conversely, VanEck experienced absolute net outflows of $960M, pacing the industry in daily redemptions. Allianz faced the steepest relative contraction among issuers, with single-day outflows removing 6.27% of its total asset base. Long-term trends remain robust for the broader market, as the industry’s total year-to-date inflows reside at $451.88B.

Issuer Flows (Absolute)

Issuer Flows (Relative)

Daily ETF Flow Analysis

Total ETF flows registered $6,639M over the most recent daily session, driving the one-year net accumulation figure to $1,644.9B. The Equity asset class absorbed the vast majority of inbound capital, totaling $5,748M, led primarily by allocations to U.S. Large Cap Blend funds which attracted $3,817M. Conversely, the Fixed Income and Commodity asset classes experienced daily net outflows of $213M and $801M, respectively. Within specific categories, Fixed Income Taxable Corporate funds paced industry redemptions by shedding $880M. Digital Assets also recorded short-term capital contraction, shedding $254M during the trading day.

Asset Class Flows

Top/Bottom 10 Category Flows

U.S. Size & Style

The U.S. Size and Style segment recorded robust aggregate daily inflows of $6,565M, driven substantially by large-cap allocations. IVV and SPY secured the top two positions, registering $2,398M and $1,613M in single-day net new assets. A notable contributor to the segment’s positive flow was BGIG, which absorbed $1,586M. On the outflow side, VOO experienced notable daily redemptions totaling $1,488M. Value-oriented strategies exhibited mixed results, with CGDV shedding $664M while broader large-cap value funds attracted overall capital.

Size & Style ex-U.S.

International equity flows aggregated to $522M for the session, advancing the year-to-date total to $97,906M for the asset class segment. The category was paced by EMXC, which accumulated $154M in daily net inflows. URTH and FENI followed closely behind, expanding their asset bases by $89M and $66M respectively. Conversely, absolute outflows were minimal within the international space, led by FEGE dropping $20M for the day. FEOE also recorded marginal redemptions, losing $12M over the same period.

Sector & Industry

Sector and Industry ETFs posted aggregate single-day outflows of $802M, despite concentrated areas of targeted accumulation. Energy sector allocations commanded the highest inbound activity, with FXN and XLE attracting $509M and $498M respectively. Information Technology products led the segment’s contraction, highlighted by SMH registering $970M in daily redemptions. The Financials sector also witnessed significant capital reduction, as FTXO and XLF shed $474M and $231M. Software-focused IGV broke the tech outflow trend by absorbing $638M, claiming the top spot across all sector funds.

Region & Country

Region and Country ETFs registered net daily redemptions of $813M, shifting the one-week flow total to a negative $3,288M. Single-country allocations to Taiwan and Canada paced the positive side of the ledger, with FLTW gathering $69M and EWC taking in $32M. Eurozone and Japanese exposures bore the brunt of the daily outflows. Specifically, EWJ lost $334M in assets, while VGK and FEZ experienced outflows of $185M and $168M, respectively. Latin American exposures saw mild accumulation, with ILF picking up $34M.

Thematic

The Thematic Equity category recorded $959M in single-day net redemptions, contrasting with its positive year-to-date flow position of $21,314M. Disruptive Technology strategies remained an area of localized accumulation, demonstrated by ARKK acquiring $138M in new capital. Midstream and MLP funds also posted gains, led by AMLP expanding its base by $51M. Conversely, infrastructure themes saw significant capital depart, primarily due to GRID shedding $178M in a single session. EMLP and XME followed with notable net redemptions, losing $33M and $31M respectively.

Fixed Income

The Fixed Income segment displayed divergent sub-category flows, resulting in a net daily decline of $213M across the asset class. International and Government bonds posted the strongest daily accumulation, anchored by IAGG absorbing $358M and SGOV collecting $337M. Investment Grade and High Yield Corporate strategies recorded severe contraction. LQD registered the most substantial daily outflow at $551M, while HYG shed $340M. Long-duration government exposure via TLT also decreased, recording $422M in net redemptions.

Commodity

Commodity ETFs experienced absolute net redemptions of $801M during the daily session, dragging the one-month total to a negative $12,476M. Energy-focused products provided a partial offset to broader category weakness, with USO gathering $200M. Precious metals drove the vast majority of the aggregate decline, as GLD single-handedly reduced its asset base by $450M. IAU managed to secure $50M in inflows, marking a divergence within the physical gold allocation space. Other notable outflows occurred in physically backed products, including SGOL and PPLT, which each lost $17M.

Cryptocurrency

Digital Asset ETFs shed $254M in daily flow activity, resulting in a negative year-to-date figure of $1,227M for the overall category. The bulk of the contraction occurred in primary spot products, headlined by ETHA dropping $140M in assets. Spot Bitcoin exposures also recorded net redemptions, with IBIT and BITB losing $42M and $33M respectively. On the positive side, ETHB stood out with $97M in inbound capital, demonstrating isolated accumulation. BITO and GSUI posted modest gains of $5M each.

Non-Traditional

The Non-Traditional asset class generated $1,461M in daily net inflows, pushing its 30-day accumulation total to $13,998M. Leveraged equity exposures dominated the inbound flow metrics, as SOXL added $1,056M to its asset base in a single day. TQQQ and KORU followed, registering $146M and $134M in respective positive flows. Conversely, buffer and inverse strategies recorded outflows, led by APRW dropping $168M. SOXS also saw capital depart, recording $66M in daily net redemptions.

Recent Launches

The ETF market has seen 266 total launches over the past three months, reflecting ongoing expansion across diverse strategy segments. The most recent slate of newly debuted funds is heavily populated by Non-Traditional leveraged products and Fixed Income defined maturity strategies. Direxion recently listed three separate 2X leveraged single-stock exposures on March 25th, targeting UNH, TXN, and PYPL. On the same date, iShares introduced four new defined maturity municipal, corporate, and treasury bond ETFs to the market. Total capital allocated to these ten newest funds remains relatively small in their initial trading sessions.