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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 net inflows in the ETFs industry in the United States for Q1 are a record at US$298 billion, according to ETFGI's March 2025 US 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.)
Highlights
- Net inflows of $96.24 Bn in March.
- Q1 net inflows of $298.00 Bn are the highest on record, followed by Q1 net inflows of $252.23 Bn in 2021 and the third highest recorded Q1 net inflows are of $232.18 Bn in 2024.
- Assets of $10.40 Tn invested in the ETFs industry in the United States at the end of March which are the fourth highest on record, below the record high assets of $10.73 Tn in January 2025.
- 35th month of consecutive net inflows.
“The S&P 500 index decreased by 5.63% in March and us down by 4.27% YTD in 2025. The developed markets excluding the US index decreased by 0.36% in March and is up 5.70% YTD in 2025. Denmark (down 11.58%) and United States (down 6.34%) saw the largest decreases amongst the developed markets in March. The emerging markets index increased by 0.65% during March and is up 0.91% YTD in 2025. Czech Republic (up 14.00%) and Greece (up 13.13%) saw the largest increases amongst emerging markets in March,” according to Deborah Fuhr, managing partner, founder, and owner of ETFGI.
Growth in assets in the ETFs industry in the United States as of the end of March
The ETFs industry in the United States has 4,140 products, assets of US$10.40 Tn, from 384 providers listed on 3 exchanges at the end of March.
During March, ETFs gathered net inflows of $96.24 Bn. Equity ETFs gathered net inflows of $41.56 Bn in March, bringing Q1 net inflows to $108.53 Bn, higher than the $106.41 Bn in net inflows in Q1 2024. Fixed income ETFs reported net inflows of $11.43 Bn during March, bringing net inflows for Q1 to $56.66 Bn, higher than the $31.68 Bn in net inflows in Q1 2024. Commodities ETFs reported net inflows of $6.61 Bn during March, bringing Q1 net inflows to $11.74 Bn, higher than the $4.93 Bn in net outflows in Q1 2024. Active ETFs attracted net inflows of $32.28 Bn during the month, gathering Q1 net inflows of $120.78 Bn, much higher than the $63.23 Bn in net inflows in Q1 2024.
Substantial inflows can be attributed to the top 20 ETF‘s by net new assets, which collectively gathered $72.98 Bn in March. iShares Core S&P 500 ETF (IVV US) gathered $23.63 Bn, the largest individual net inflow.
Top 20 ETFs by net new assets March 2025: US
|
Name |
Ticker |
Assets |
NNA |
NNA |
|
iShares Core S&P 500 ETF |
IVV US |
575,114.18 |
23,053.24 |
23,632.05 |
|
Vanguard S&P 500 ETF |
VOO US |
590,466.10 |
34,102.62 |
6,447.90 |
|
iShares 0-3 Month Treasury Bond ETF |
SGOV US |
39,394.49 |
9,517.15 |
3,867.75 |
|
SPDR Portfolio S&P 500 ETF |
SPLG US |
58,665.66 |
7,884.33 |
3,556.42 |
|
SPDR Bloomberg Barclays 1-3 Month T-Bill ETF |
BIL US |
41,045.87 |
4,795.50 |
3,159.34 |
|
Vanguard Total Stock Market ETF |
VTI US |
438,402.31 |
9,269.61 |
3,014.32 |
|
SPDR Gold Shares |
GLD US |
91,821.81 |
5,964.40 |
2,856.87 |
|
ProShares UltraPro QQQ |
TQQQ US |
19,600.17 |
1,314.91 |
2,801.69 |
|
Vanguard Growth ETF |
VUG US |
144,666.92 |
3,894.34 |
2,775.93 |
|
Vanguard FTSE Europe ETF |
VGK US |
21,711.61 |
3,549.97 |
2,424.67 |
|
Direxion Daily Semiconductors Bull 3x Shares |
SOXL US |
7,439.53 |
1,406.54 |
2,422.70 |
|
iShares Russell 1000 Growth ETF |
IWF US |
96,338.56 |
483.57 |
2,366.56 |
|
Vanguard Total International Stock Index Fund ETF |
VXUS US |
82,848.77 |
3,970.95 |
2,290.79 |
|
Schwab US Dividend Equity ETF |
SCHD US |
70,929.50 |
3,845.59 |
2,080.89 |
|
Vanguard Intermediate-Term Corporate Bond ETF |
VCIT US |
51,493.10 |
1,909.31 |
1,840.17 |
|
iShares 7-10 Year Treasury Bond ETF |
IEF US |
34,957.72 |
2,524.19 |
1,742.15 |
|
iShares Russell 2000 ETF |
IWM US |
63,336.14 |
(1,775.92) |
1,472.46 |
|
Direxion Daily TSLA Bull 2X Shares |
TSLL US |
4,158.56 |
3,441.33 |
1,471.97 |
|
iShares Russell 1000 Value ETF |
IWD US |
61,950.72 |
(2,461.99) |
1,399.86 |
|
Vanguard Mid-Cap ETF |
VO US |
73,516.10 |
2,652.41 |
1,354.90 |
The top 10 ETPs by net assets collectively gathered $519.03 Mn during March. MicroSectors FANG+ 3X Leveraged ETN (FNGB US) gathered $186.27 Mn, the largest individual net inflow.
Top 10 ETPs by net new assets March 2025: US
|
Name |
Ticker |
Assets |
NNA |
NNA |
|
MicroSectors FANG+ 3X Leveraged ETN |
FNGB US |
152.81 |
197.18 |
186.27 |
|
Inverse VIX Short-Term Futures ETNs due March 22 2045 |
VYLD US |
90.02 |
90.02 |
90.02 |
|
Hashdex Nasdaq Crypto Index US ETF |
NCIQ US |
88.73 |
90.60 |
72.69 |
|
Grayscale Bitcoin Mini Trust ETF |
BTC US |
3,345.12 |
282.71 |
65.27 |
|
MAX S&P 500 4X Leveraged ETN |
SPYU US |
157.75 |
35.67 |
35.67 |
|
United States Copper Index Fund |
CPER US |
200.03 |
21.52 |
17.15 |
|
ProShares UltraShort Gold |
GLL US |
42.58 |
33.15 |
17.00 |
|
Invesco DB US Dollar Index Bearish Fund |
UDN US |
69.23 |
15.87 |
14.91 |
|
ProShares UltraShort Silver |
ZSL US |
35.82 |
20.52 |
13.48 |
|
iPath Bloomberg Commodity Index Total Return ETN |
DJP US |
604.11 |
16.22 |
6.57 |
Investors have tended to invest in Equity ETFs/ETPs during March.
