2025 ETF Flows Highlights
- International equity exchange-traded funds set a new inflow record, more than doubling 2024’s total as strong returns and a weaker US dollar fueled demand.
- Vanguard and iShares dominated flows once again, capturing 54% of all US ETF net flows.
- Vanguard S&P 500 ETF VOO set an all-time ETF inflow record by drawing in $143 billion, roughly 10% of every new dollar invested in US ETFs in 2025.
- Rising gold prices drove strong demand, leading a turnaround for commodity ETFs after a tepid 2024.
- Active ETFs had their best year on record, attracting about a third of total ETF inflows.
ETFs brought in $1.46 trillion in 2025, easily breaking the flows record set in 2024 by $350 billion. Strong marketwide performance went hand in hand with higher investor demand for ETFs.
In 2025, nearly all our analyst-rated ETFs in the table below outperformed their average historical…
