ETFGI, reported today that assets in the ETFs industry in Europe reached a new record of US$3.77 trillion at the end of May. During May the ETFs industry in Europe gathered net inflows of US$45.77 billion, bringing year-to-date net inflows to a record US$220.91 billion, according to ETFGI's May 2026 European ETFs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. ETFGI, is a 14 year old leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, 6 annual ETFGI Global ETFs Insights Summits, and ETF TV on global ETF industry trends.(All dollar values in USD unless otherwise noted.)
Highlights
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Assets invested in the European ETF industry reached a record $3.77 trillion at the end of May, surpassing the previous high of $3.58 trillion at the end of April 2026.
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Assets have increased 17.0% year‑to‑date in 2026, rising from $3.22 trillion at the end of 2025 to $3.77 trillion.
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The industry recorded net inflows of $45.77 billion in May 2026.
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Year‑to‑date net inflows of $220.91 billion represent a new record, exceeding the previous highs of $149.79 billion in 2025 and $95.18 billion in 2021.
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May marked the 44th consecutive month of net inflows into European ETFs.
“The S&P 500 rose 5.26% in May and is up 11.27% year‑to‑date in 2026. Developed markets excluding the U.S. gained 5.20% during May and are up 15.33% year‑to‑date, with Korea (+28.71%) and Luxembourg (+20.50%) delivering the strongest returns among developed markets for the month. Emerging markets increased by 3.77% in May and are up 11.44% year‑to‑date, led by Taiwan (+16.95%) and Peru (+11.75%), which recorded the highest gains among emerging markets in May. According to Deborah Fuhr, Managing Partner and founder of ETFGI.
Growth in assets in the ETFs industry in Europe as of the end of May
The ETFs industry in Europe has 3,860 products, with 15,931 listings, assets of $3.77 Tn, from 159 providers listed on 32 exchanges in 26 countries at the end of May.
iShares is the largest provider in terms of assets with $1.49 Tn, reflecting 39.6% market share; Amundi ETF is second with $468.60 Bn and 12.4% market share, followed by Xtrackers with $382.69 Bn and 10.1% market share. The top three providers, out of 159, account for 62.1% of European ETF AUM, while the remaining 156 providers each have less than 8% market share.
Net inflows
During May, ETFs gathered net inflows of $45.77 billion. Equity ETFs led the way with $25.18 billion of net inflows, bringing year‑to‑date inflows to $151.29 billion, well above the $108.71 billion recorded at this stage in 2025.
Fixed income ETFs recorded $13.91 billion of net inflows in May, with year‑to‑date inflows reaching $45.80 billion, significantly higher than the $24.26 billion gathered by the end of May 2025.
Commodities ETFs attracted $2.35 billion during the month, bringing year‑to‑date inflows to $4.09 billion, slightly below the $4.16 billion recorded over the same period in 2025.
Active ETFs gathered $4.62 billion in May, with year‑to‑date inflows in Europe rising to $20.27 billion, nearly double the $10.89 billion recorded year‑to‑date in 2025.
Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $19.53 Bn in May. Vanguard FTSE All-World UCITS ETF (VWRD LN) gathered $2.93 Bn, the largest individual net inflow.
Top 20 ETFs by net new assets May 2026: Europe
The top 10 ETPs by net new assets collectively gathered $2.03 Bn during May. WisdomTree Agriculture (AIGA LN) gathered $736.70 Mn, the largest individual net inflow.
Top 10 ETPs by net new assets May 2026: Europe
Investors have tended to invest in Equity ETFs during May.
