ETFGI Reports Assets Invested In Thematic ETFs Listed Globally Have Increased By 49.6% In The First 11 Months Of 2025

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 Thematic ETFs listed globally have increased by 49.6% in the first 11 months of 2025. At the end of November US$467.93 billion was invested in the Thematic ETFs listed globally, according to ETFGI’s November 2025 ETF Thematic industry landscape insights report, an annual paid-for research subscription service.  (All dollar values in USD unless otherwise noted.)

Highlights

• Thematic ETF assets surged 49.6% year-to-date in 2025, rising from $312.83 billion at the end of 2024 to $467.93 billion.
• At the end of November 2025, global assets in Thematic ETFs stood at $467.93 billion, slightly below the record high of $476.42 billion reached in October 2025.
• Net inflows totaled $8.17 billion in November 2025.
• Year-to-date net inflows of $69.63 billion represent the second-highest on record, following $88.27 billion in 2021, with $46.11 billion in 2020 ranking third.
• November marked the 12th consecutive month of net inflows.
• iShares leads the global thematic ETF market with assets of $74.40 billion, representing a 15.9% market share. Mirae Asset ranks second with $47.00 billion (10.0% share), followed by First Trust at $30.03 billion (6.4% share). Collectively, the top three providers—out of 286—account for 32.4% of global thematic ETF assets, while the remaining 283 providers each hold less than 5% market share.

“The S&P 500 rose 0.25% in November and is up 17.81% year-to-date. Developed markets excluding the U.S. gained 0.73% in November and are up 30.79% in 2025, with Luxembourg (+9.82%) and Ireland (+8.05%) posting the largest monthly increases. Emerging markets declined 1.69% in November but remain up 22.40% year-to-date, while Saudi Arabia (-8.57%) and the United Arab Emirates (-6.05%) recorded the largest monthly decreases,” according to Deborah Fuhr, Managing Partner, Founder, and Owner of ETFGI.

Growth in assets in the Thematic ETFs listed globally as of end of November

The first Thematic ETF was listed in 2001, at the end of November there were 1,679 ETFs, with 3,163 listings, assets of $467.93 Bn, from 286 providers listed on 54 exchanges in 42 countries. During November, 15 new Thematic ETFs were launched.

• Technology and Climate Change themes lead in assets and inflows, together accounting for nearly half of total thematic ETF assets.
• Healthcare shows strong YTD inflows ($9.96 billion) despite relatively smaller asset size.
• Resources Management is the only theme with negative inflows in November, indicating investor rotation away from this segment.
• Overall industry momentum remains strong, with $69.63 billion YTD inflows, the second-highest on record.
• During November, 15 new Thematic ETFs were launched.

Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered
$6.71 Bn, during November. iShares AI Innovation and Tech Active ETF (BAI US) gathered $726.07 Mn, the largest individual net inflow.

Top 20 Thematic ETFs/ETPs by net new assets November 2025