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$545.09 billion at the end of October. During October the ETFs industry in Canada gathered net inflows of US$9.13 billion, bringing year-to-date net inflows to US$83.32 billion, according to ETFGI's October 2025 Canadian ETFs and ETPs 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.)
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Highlights
- Record Assets: Canadian ETF industry assets reached $545.09 billion at the end of October, surpassing the previous record of $533.77 billion in September 2025.
- Strong Growth: Assets have grown 37.2% year-to-date, rising from $397.15 billion at the end of 2024.
- October Flows: Net inflows of $9.13 billion in October 2025.
- Historic YTD Inflows: Year-to-date net inflows of $83.32 billion, the highest on record, compared to $47.87 billion in 2024 and $38.01 billion in 2021.
- Consistency: This marks the 40th consecutive month of net inflows.
The S&P 500 rose 2.34% in October, bringing its year-to-date gain to 17.52%. Developed markets excluding the U.S. advanced 1.69% in October and are up 29.83% so far in 2025, with Korea (+18.88%) and Luxembourg (+6.71%) leading the monthly gains. Emerging markets climbed 1.71% during October and have gained 24.50% year-to-date, driven by strong performances in Taiwan (+8.60%) and Hungary (+8.41%), according to Deborah Fuhr, managing partner, founder, and owner of ETFGI.
Growth in assets in the ETFs industry in Canada as of the end of October
At the end of October 2025, the Canadian ETF industry had 1,478 ETFs, with 1,852 listings, assets of US$545.09 Bn, from 47 providers on 2 exchanges.
RBC iShares is the largest ETF provider in Canada with US$145.88 billion in assets, representing a 26.8% market share. BMO Asset Management ranks second with US$113.17 billion (20.8%), followed by Vanguard at US$89.01 billion (16.3%). Together, the top three providers—out of 47—account for 63.9% of Canadian ETF assets, while the remaining 44 providers each hold less than 7% market share.
During October, ETFs gathered net inflows of $9.13 Bn. Equity ETFs reported net inflows of $3.90 Bn during October, bringing net inflows for the year through October 2025 to $30.21 Bn, higher than the $19.50 Bn in net inflows equity products had attracted at this point in 2024. Fixed income ETFs gathered net inflows of $1.88 Bn during October, bringing net inflows for the year through October to $12.36 Bn, higher than the $8.90 Bn in net inflows fixed income products had attracted by the end of October 2024. Active ETFs reported net inflows of $3.13 Bn during the month, gathering net inflows for the year in Canada of $37.44 Bn, much higher than the $18.53 Bn in net inflows active products had reported by the end of October 2024. Crypto ETFs reported net outflows of $156.16 Mn during October, bringing net inflows for the year through October 2025 to $628.33 Mn, higher than the $434.73 Mn in net outflows crypto products had reported year to date in 2024. Currency ETFs reported net inflows of $24.97 Mn during October, bringing net inflows for the year through October 2025 to $50.25 Mn, much higher than the $2.16 Mn in net inflows currency products had reported year to date in 2024.
Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $5.25 Bn during October. BMO Corporate Bond Index ETF (ZCB CN) gathered $666.00 Mn, the largest individual net inflow.
Top 20 ETFs by net new assets October 2025: Canada
|
Name |
Ticker |
Assets |
NNA |
NNA |
|
ZCB CN |
866.46 |
758.71 |
666.00 |
|
|
Mackenzie Canadian Equity Index ETF |
QCN CN |
2,500.04 |
1,016.29 |
625.71 |
|
iShares Core Equity ETF Portfolio |
XEQT CN |
7,999.52 |
2,744.46 |
381.85 |
|
BMO US Aggregate Bond Index ETF |
ZUAG CN |
801.17 |
450.91 |
349.88 |
|
Fidelity All-in-One Balanced ETF |
FBAL CN |
3,817.13 |
2,072.25 |
306.66 |
|
iShares MSCI EAFE IMI Index Fund |
XEF CN |
11,015.90 |
2,754.42 |
296.92 |
|
Vanguard All-Equity ETF Portfolio |
VEQT CN |
6,899.55 |
1,698.88 |
234.27 |
|
iShares Core S&P 500 Index ETF (CAD-Hedged) |
XSP CN |
9,906.10 |
591.27 |
222.98 |
|
Fidelity All-in-One Equity ETF |
FEQT CN |
1,994.66 |
1,326.24 |
217.68 |
|
iShares Core Canadian Universe Bond Index ETF |
XBB CN |
6,282.88 |
421.22 |
199.96 |
|
BMO High Yield US Corporate Bond Index ETF |
ZJK CN |
1,063.24 |
279.32 |
199.23 |
|
BMO High Yield US Corporate Bond Hedged to CAD Index ETF |
ZHY CN |
925.95 |
228.87 |
197.24 |
|
BMO S&P 500 Index ETF |
ZSP CN |
17,407.48 |
(563.09) |
194.04 |
|
Vanguard Canadian Aggregate Bond Index ETF |
VAB CN |
4,511.39 |
664.67 |
189.66 |
|
Vanguard S&P 500 Index ETF |
VFV CN |
19,657.54 |
2,607.91 |
183.92 |
|
iShares Core S&P Total US Stock Market Index ETF |
XTOT CN |
1,363.46 |
1,279.72 |
180.84 |
|
Fidelity Systematic Canadian Bond Index ETF |
FCCB CN |
1,892.08 |
1,019.37 |
168.14 |
|
Invesco ESG NASDAQ 100 Index ETF |
QQCE CN |
583.08 |
363.98 |
148.72 |
|
Vanguard Canadian Short-Term Bond Index ETF |
VSB CN |
995.48 |
276.60 |
144.62 |
|
Mackenzie US Large Cap Equity Index ETF |
QUU CN |
3,397.48 |
507.40 |
140.89 |
Investors have tended to invest in Equity ETFs during October.
