ETFGI reports ETFs Industry in the US Breaks Full-Year Net Inflow Record with $1.56 Trillion Gathered Through end of September

Press Release

LONDON — October 16, 2026 — ETFGI, a leading independent research and consultancy firm, reported today ETFs Industry in the US breaks full-year net inflow record with $1.56 trillion gathered through September that assets of US$16.24 trillion were invested in the ETFs industry in the United States at the end of September. During September, the ETFs industry in the United States gathered net inflows of US$152.93 billion, bringing year-to-date net inflows to US$1.56 trillion, according to ETFGI's September 2026 US 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

  • Assets of US$16.24 Tn were invested in the ETFs industry in the United States at the end of September, below the record high asset of $16.36 Tn in August 2026.
  • Assets increased 21.0% YTD in 2026, going from $13.43 Tn at end of 2025 to $16.24 Tn.
  • 53rd month of consecutive net inflows.
  • YTD net inflows of $1.56 Tn in US are beating the full year net inflows record of $1.50 Tn in 2025.
  • Net inflows of $152.93 Bn in September.
  • YTD net inflows of $1.56 Tn are the highest on record, followed by YTD net inflows of $951.27 Bn in 2025 and the third highest recorded YTD net inflows are of $740.78 Bn in 2024.
  • YTD through end of September, 1130 new ETFs have been launched by 206 providers, while 238 ETFs have closed.

Register now to join us on November 19th in London for our 7th Annual ETFGI Global ETFs Insights Summit – Europe and Africa and virtually on November 20th.


Register now to join us on December 8th in Toronto for our 8th Annual ETFGI Global ETFs Insights Summit – Canada.
 

Register now to join us at our 7th Annual ETFGI Global ETFs Insights Summit - Middle East & GCC, that will take place in Dubai. (Dates TBC)

“Equity market performance weakened in September across both developed and emerging markets. While the S&P 500 declined 0.35%, it remained up 12.75% for the year. Developed markets excluding the U.S. fell 2.72% in September but continued to show strong gains of 14.86% year-to-date. New Zealand and Luxembourg experienced the largest declines among developed markets. Emerging markets also retreated, falling 1.77% during the month, although they remained up 11.26% in 2026. Turkey and the Czech Republic recorded the steepest declines among emerging markets,” said 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 September

Source: ETFGI data sourced from ETF/ETP sponsors, exchanges, regulatory filings, Thomson Reuters/Lipper, Bloomberg, publicly available sources and data generated in-house. Note: “ETFs” are typically open-end index funds that provide daily portfolio transparency, are listed and traded on exchanges like stocks on a secondary basis as well as utilising a unique creation and redemption process for primary transactions. “ETPs” refers to other products that have similarities to ETFs in the way they trade and settle but they do not use a mutual fund structure. The use of other structures including grantor trusts, partnerships, notes and depositary receipts by ETPs can create different tax and regulatory implications for investors when compared to ETFs which are funds.

 

ETF Provider Highlights 

The ETFs industry in the United States has 5,780 ETFs, assets of $16.24 Tn, from 511 providers on 4 exchanges at the end of September.

The US ETF industry continues to exhibit a high degree of concentration, with the three largest providers, iShares, Vanguard, and State Street SPDR, collectively accounting for 70.0% of industry assets, representing $11.37 trillion of the industry's total $16.24 trillion in assets.

Together, these firms accounted for $829 billion, or approximately 53% of the record $1.56 trillion of YTD net inflows into US-listed ETFs.  Vanguard with 116 ETFs led the industry with $388.0 billion in net inflows, iShares with 483 ETFs followed with $313.8 billion, and State Street SPDR with 183 ETFs gathered $127.5 billion.

State Street SPDR has already exceeded its full-year 2025 flow total by approximately 50%, demonstrating a significant acceleration in asset gathering. Vanguard remains on pace for another record year and is on track to challenge its 2025 full-year inflow record. iShares continues to generate substantial inflows while maintaining its position as the industry's largest provider by assets.

Net inflow Highlights 

  • Investor demand for ETFs remains unprecedented, with the industry already establishing a new annual net inflow record before the end of the third quarter.
  • The breadth of inflows across equity, fixed income, and active ETFs demonstrates that investors continue to use ETFs as core portfolio building blocks across a wide range of asset classes and investment strategies.
  • The continued acceleration in flows to active ETFs suggests investors increasingly value the combination of active management and the tax efficiency, transparency, and liquidity offered by the ETF structure.

  • Strong inflows into both equity and fixed income ETFs indicate investors are simultaneously positioning for growth opportunities while maintaining strategic allocations to income and diversification solutions.

     

  • US-listed ETFs gathered a record $1.56 trillion in net inflows year to date through September 2026, surpassing the previous full-year record of $1.50 trillion set in 2025 with three months still remaining in the year.

  • ETFs attracted $152.93 billion in net inflows during September, extending the industry's strong asset-gathering momentum.

  • Year-to-date net inflows of $1.56 trillion are the highest on record, well ahead of the $951.27 billion gathered through September 2025 and the $740.78 billion gathered through September 2024.

  • Equity ETFs led asset gathering in September with net inflows of $41.02 billion, bringing year-to-date net inflows to $677.10 billion, nearly double the $353.37 billion gathered during the same period in 2025.

  • Fixed income ETFs recorded $40.08 billion in net inflows during September, increasing year-to-date net inflows to $293.44 billion, significantly higher than the $174.58 billion gathered through September 2025.

  • Active ETFs continued to see strong investor demand, attracting $61.16 billion in September and bringing year-to-date net inflows to a record $590.23 billion, compared with $362.74 billion over the same period in 2025.

  • Active ETFs accounted for nearly 39% of all industry net inflows year to date, highlighting investors' growing adoption of active ETF strategies.

  • Commodities ETFs gathered $3.74 billion in September; however, year-to-date net inflows of $5.50 billion remain well below the $39.07 billion gathered during the same period in 2025.

 

Substantial inflows can be attributed to the top 20 ETF's by net new assets, which collectively gathered $81.34 Bn in September, the State Street SPDR S&P 500 ETF Trust (SPY US) gathered $10.70 Bn alone.

Top 20 ETFs by net new assets September 2026: US

Source: ETFGI data sourced from ETF/ETP sponsors, exchanges, regulatory filings, Thomson Reuters/Lipper, Bloomberg, publicly available sources and data generated in-house. Note: This report is based on the most recent data available at the time of publication. Asset and flow data August change slightly as additional data becomes available.

 

Substantial inflows can be attributed to the top 10 ETP's by net new assets, which collectively gathered $7.43 Bn in September, the SPDR Gold Shares (GLD US) gathered $1.89 Bn alone.

Top 10 ETPs by net new assets September 2026: US

Source: ETFGI data sourced from ETF/ETP sponsors, exchanges, regulatory filings, Thomson Reuters/Lipper, Bloomberg, publicly available sources and data generated in-house. Note: This report is based on the most recent data available at the time of publication. Asset and flow data August change slightly as additional data becomes available.

 

Investors have tended to invest in Active ETFs during September.

Contact deborah.fuhr@etfgi.com if you have any questions or comments on the press release or ETFGI’s subscription research, consulting services, 6 annual ETFGI Global ETFs Insights Summits, or ETF TV.

Register today to join one or more of our upcoming ETFGI Global ETFs Insights Summits, held across the world’s major ETF listing regions and designed to provide local and global perspectives on the countries and exchanges where ETFs are listed.

The ETFGI Global ETFs Insights Summits are a premier series of annual, regionally focused educational events designed for financial advisers and institutional investors. Each summit brings together industry leaders to share practical insights into the due diligence, selection and trading Of local, U.S.-listed and UCITS ETFs, while exploring the developments and emerging trends shaping the future Of ETFs and mutual funds.

Each summit features substantive, in-depth discussions on how regulation, market structure, product innovation, active ETFs, novel ETFs, ETF Connect, crypto, digital assets and tokenisation, private markets, prediction markets, model portfolios and technological advances are shaping the next phase of ETF growth and adoption across the industry. Discussions also examine the opportunities and challenges facing retail investors and institutional investors as ETF usage expands across diverse markets and jurisdictions.

Register now to meet, network with, and hear from industry leaders from across the world’s major ETF listing regions.

🆓 Complimentary registration available for CFA Charterholders and CFA Society members, Buy-side institutional investors and Financial advisors
 📚 Educational credits available

Thank you to all our confirmed sponsors and supporters for 2026. If you are interested in sponsoring, supporting, or speaking at one of our upcoming events, please get in touch.

Register today and join the leading voices shaping the future of ETFs, digital assets, tokenisation and investment innovation across regions.

About ETFGI

ETFGI is a leading independent research and consultancy firm covering trends in the global ETFs, ETPs and related ecosystem. ETFGI provides market intelligence, industry research, educational events and strategic insights to support investors and industry participants worldwide. Through its research and events, ETFGI helps market participants better understand the opportunities and developments shaping the global ETF industry.

Register to join one or more of our upcoming ETFGI Global ETFs Insights Summits in 2026:

  • 7th Annual - Europe & Africa, November 19th in London and November 20th virtual.
  • 8th Annual - Canada, December 8th in Toronto at Borden Ladner Gervais LLP (BLG)'s office. Early bird expires on Oct 27th.
  • 7th Annual - Middle East & GCC in Dubai, TBC

Register to join upcoming ETFGI Global ETFs Insights Summits in 2027:

  • 8th Annual - Latin America, day 1 in Mexico City and day 2 virtual. 
  • 8th Annual - Asia Pacific, day 1 in Hong Kong and day 2 virtual. 
  • 8th Annual - United States, in New York City.

ETFGI is a leading independent research and consultancy firm with 14 years of experience, recognized for its expertise in subscription research, consulting services, 6 annual regional in person ETFGI Global ETFs Insights Summit events that cover all ETFs listed global on 81 exchanges in 63 countries, and ETF TV, covering global ETF industry trends. Interested in subscribing to ETFGI’s research email: contact@etfgi.com

ETF TV (www.ETFtv.net) is an on-demand program that highlights newly launched exchange-traded funds, products, and notes, while exploring the most pressing topics shaping the ETF landscape. Each episode brings together leading voices from across the industry—including issuers, investors, benchmark providers, and traders—to discuss the trends and developments influencing the use and management of exchange-traded products.

Every show features insightful interviews with key market participants, offering expert perspectives on the issues that matter most to the ETF community. ETF TV also offers the opportunity to create sponsored episodes, allowing partners to collaborate with us in producing custom content tailored to their brand and messaging.

If you’re interested in sponsoring or speaking at one of our upcoming ETFGI Global ETFs Insights Summits, subscribing to any of ETFGI’s annual research services (www.ETFGI.com), sponsoring an episode of ETF TV (www.ETFtv.net), exploring our consulting offerings, or if you have any questions, please reach out to us at  deborah.fuhr@etfgi.com and margareta.hricova@etfgi.com

Contact: 
Deborah Fuhr 
Managing Partner, Founder 
ETFGI 
Mobile: +44 777 5823 111 
Email: deborah.fuhr@etfgi.com 
Web: www.etfgi.com 

Connect on:
Deborah Fuhr Twitter | LinkedIn 
ETFGI Twitter | LinkedIn | Website
ETFs Network LinkedIn
ETF TV Twitter | LinkedIn | Website
Women in ETFs, Board member and founder  
Women in ETFs Twitter | LinkedIn | Website

Disclaimer: 

This press release is published by, and remains the copyright of, ETFGI LLP ("ETFGI") or its licensors. The information and data in this press release is for information purposes only. ETFGI makes no warranties or representations regarding the accuracy or completeness of the information contained on this press release.

ETFGI does not offer investment advice or make recommendations regarding investments and nothing in the press release shall be deemed to constitute financial or investment advice in any way and shall not constitute a regulated activity for the purposes of the Financial Services and Markets Act 2000. Further, nothing in this press release shall constitute or be deemed to constitute an invitation or inducement to any person to engage in investment activity. Should you undertake any such activity based on information contained in this press release, you do so entirely at your own risk and ETFGI shall have no liability whatsoever for any loss, damage, costs or expenses incurred or suffered by you as a result.

ETFGI LLP is a limited liability partnership registered in England and Wales with registered number OC372221. Our registered office is at 7th Floor, York House, 23 Kingsway, London WC2B 6UJ, United Kingdom.