U.S.-listed ETFs pulled in $138.1 billion in September, the strongest month of the yr thus far. That whole simply surpassed August’s $119.3 billion and lifted year-to-date inflows to $930.7 billion, placing the business on tempo to cross the $1 trillion mark as quickly as this month. That may set ETFs as much as finally eclipse final yr’s report haul of $1.1 trillion.
U.S. fairness ETFs led the best way, taking in $65.9 billion in the course of the month, roughly half of whole inflows. Worldwide fairness ETFs added $27.6 billion, whereas U.S. fastened earnings ETFs attracted $23.9 billion. Commodities ETFs pulled in $11.2 billion.
September coincided with contemporary report highs in U.S. shares. The S&P 500 prolonged its year-to-date positive factors to as a lot as 15%, whereas the Nasdaq-100 superior greater than 18%.
Bond yields fell because the Federal Reserve minimize charges for the primary time this yr, offsetting a string of weaker financial information. Traders largely appeared previous disappointing labor market numbers, focusing as an alternative on the Fed’s coverage shift and the continued growth in synthetic intelligence.
Amongst particular person ETFs, the iShares Core S&P 500 ETF (IVV) dominated with $18.9 billion of inflows. The Vanguard S&P 500 ETF (VOO) and the iShares S&P 100 ETF (OEF) adopted with $4.4 billion and $4.3 billion, respectively. OEF’s belongings have practically doubled this yr to virtually $28 billion, helped by its 130-basis-point outperformance versus IVV.
The SPDR Gold Shares (GLD) was one other huge winner, hauling in $4.2 billion as gold costs surged to report highs close to $3,900/oz, up 47% yr to this point. GLD alone has added $15 billion in 2025, whereas U.S.-listed gold ETFs collectively have introduced in round $35 billion.
Two BlackRock energetic ETFs additionally cracked the leaderboard. The iShares A.I. Innovation and Tech Lively ETF (BAI) and the iShares U.S. Fairness Issue Rotation Lively ETF (DYNF) every attracted $3.3 billion, doubtlessly tied to mannequin portfolio reallocations. BAI is up 29% yr to this point, whereas DYNF has gained 17%.
On the fastened earnings aspect, the iShares 7-10 Yr Treasury Bond ETF (IEF) stood out with $2.6 billion of inflows. The fund is up 7.5% this yr, boosted by falling charges and a roughly 50-basis-point drop within the 10-year Treasury yield.
The iShares MSCI EAFE Development ETF (EFG) led outflows with $3.8 billion. Whereas worldwide equities have outperformed U.S. shares this yr, EFG’s 20.8% year-to-date return lags the broader iShares MSCI EAFE ETF (EFA), which is up 27%.
Different notable outflows got here from leveraged ETFs, together with the Direxion Every day Semiconductor Bull 3x Shares (SOXL), the ProShares UltraPro QQQ (TQQQ), and the Direxion Every day TSLA Bull 2x Shares (TSLL). All three surged throughout September, suggesting merchants had been taking income.
For the complete listing of September’s prime inflows and outflows, in addition to year-to-date rankings, see the tables under.