ETFGI Reports Assets Invested In The ETFs Industry In Canada Reached A New Record Of 533.77 Billion US Dollars At The End Of September

ETFGI, a leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, events, and ETF TV on global ETF industry trends, reported today that assets invested in the ETFs industry in Canada reached a new record of US$533.77 billion at the end of September. During September the ETFs industry in Canada gathered net inflows of US$10.99 billion, bringing year-to-date net inflows to a record US$74.19 billion, according to ETFGI's September 2025 Canadian ETFs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

Canadian ETF Industry – September 2025 Highlights

• Record Assets: Assets invested in Canadian ETFs reached an all-time high of $533.77 billion at the end of September, surpassing the previous record of $512.15 billion set in August 2025.
• Strong Year-to-Date Growth: Assets have grown 34.4% year-to-date, rising from $397.15 billion at the end of 2024 to $533.77 billion.
• Robust Monthly Inflows: Net inflows totaled $10.99 billion in September alone.
• Highest YTD Net Inflows on Record: Year-to-date net inflows of $74.19 billion mark a new record, exceeding the previous highs of $41.10 billion in 2024 and $34.71 billion in 2021.
• 12-Month Momentum: Over the past 12 months, Canadian ETFs have attracted $97.12 billion in net inflows.
• Consistent Growth: September marks the 39th consecutive month of net inflows into Canadian ETFs.

“The S&P 500 rose 3.65% in September, bringing its year-to-date gain to 14.83.  Developed markets excluding the US increased by 2.50% during the month and are up 27.67% in 2025. The Netherlands and Korea led the gains among developed markets in September, rising 13.27% and 9.04%, respectively. Emerging markets advanced 5.49% in September and have gained 22.41% year-to-date, with Peru (up 12.80%) and South Africa (up 9.47%) posting the strongest monthly performance among emerging markets,” said Deborah Fuhr, managing partner, founder, and owner of ETFGI.

Growth in assets in the ETFs industry in Canada as of the end of September

The Canadian ETF industry had 1,446 ETFs, with 1,813 listings, assets of $533.77 Bn, from 46 providers listed on 2 exchanges at the end of September. 

RBC iShares is the largest provider in terms of assets with US$143.02 Bn, reflecting 26.8% market share; BMO Asset Management is second with US$111.67 Bn and 20.9% market share, followed by Vanguard with US$86.58 Bn and 16.2% market share. The top three providers, out of 46, account for 63.9% of AUM invested in the ETFs industry in Canada, while the remaining 43 providers each have less than 7% market share.

 Canadian ETF Flows – September 2025 Breakdown

• In September, Canadian ETFs attracted $10.99 billion in net inflows.
• Equity ETFs led with $4.00 billion in net inflows for the month, bringing year-to-date inflows to $26.31 billion, significantly above the $16.76 billion recorded by the same time in 2024.
• Fixed Income ETFs gathered $2.33 billion in September, pushing year-to-date inflows to $10.49 billion, ahead of the $7.30 billion seen by the end of September 2024.
• Active ETFs saw strong demand, with $3.83 billion in net inflows during the month and $34.31 billion year-to-date—more than double the $16.18 billion reported by the same point last year.
• Crypto ETFs reported $247.75 million in net inflows for September, bringing year-to-date inflows to $784.49 million, a sharp turnaround from the $384.25 million in net outflows recorded year-to-date in 2024.
• Currency ETFs experienced net outflows of $5.67 million in September, though year-to-date inflows stand at $25.28 million, well above the $0.90 million reported by the end of September 2024.

Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $5.45 Bn during September. Scotia Canadian Bond Index Tracker ETF (SITB CN) gathered $903.54 Mn, the largest individual net inflow.

Top 20 ETFs by net new assets September 2025: Canada

Investors have tended to invest in Equity ETFs during September.