Key facts
- US-listed ETF inflows reached over $1.54 trillion as of end-September.
- The previous annual record for ETF inflows was $1.52 trillion in 2025.
- State Street expects total US-listed ETF inflows to reach $2.3 trillion by year-end.
- Equity ETFs have led inflows with over $1 trillion, followed by fixed income products with over $469 billion.
- Technology funds saw the largest inflows among equity sectors at over $59 billion.
- Funds tracking US stocks received the most inflows at about $655 billion.
Inflows into US-listed exchange-traded funds (ETFs) have already surpassed any full-year total on record through the end of September and are projected to grow further by year-end, according to data from State Street Investment Management.
Year-to-date inflows stood at more than $1.54 trillion as of the end of September, exceeding the previous annual record of $1.52 trillion set in 2025. State Street's global head of research strategists, Matthew Bartolini, anticipates that total ETF inflows for US-listed funds will reach $2.3 trillion by the close of the year.
Equity ETFs have been the primary driver of these inflows, attracting over $1 trillion alone this year. Fixed income products followed, with inflows exceeding $469 billion. Within equity sectors, technology funds have seen the largest inflows, accumulating over $59 billion, while financial sector funds experienced outflows totaling more than $3.8 billion.
Geographically, funds tracking US stocks have attracted the most capital, with inflows of approximately $655 billion, followed by funds focused on international developed markets, which saw inflows of $150.4 billion.
Bartolini noted that investors continue to favor ETFs for capital allocation and portfolio construction, contrasting this with persistent outflows from mutual funds. The Vanguard S&P 500 ETF, the world's largest ETF by assets under management, has gained over 13% year-to-date as of Friday morning. While enthusiasm for AI and strong corporate earnings propelled US stocks to record highs earlier in the year, inflation concerns stemming from the US-Iran conflict and rising bond yields introduced volatility last month.