LONDON — September 11, 2025 — The U.S. ETF industry has set a new milestone, reaching a remarkable $12.19 trillion in assets by the end of August, according to recent findings from ETFGI, an independent research and consultancy firm.
This significant uptick in assets represents a 17.8% increase year-to-date, compared to $10.35 trillion recorded at the close of 2024.
The month of August alone saw an impressive gathering of net inflows totaling $120.65 billion, propelling year-to-date net inflows to a record $798.77 billion.
This figure surpasses previous yearly records, with $643.49 billion in 2024 and $594.43 billion in 2021.
Deborah Fuhr, managing partner, founder, and owner of ETFGI, noted the continuous growth of the industry, emphasizing that the past 12 months have marked an outstanding $1.33 trillion in net inflows, highlighting the 40th consecutive month of positive inflows.
Among the leading players in the sector, iShares remains the largest ETF provider in the United States, managing $3.64 trillion, which accounts for 29.9% of the market share.
Following close behind is Vanguard, controlling $3.52 trillion and holding a 28.9% share, while SPDR ETFs ranks third with $1.68 trillion and a 13.7% market share.
Together, these top three providers dominate the landscape, managing a joint total of 72.5% of the industry’s assets.
The performance of major market indices has also influenced investor sentiment, with the S&P 500 index rising by 2.03% in August and achieving a year-to-date gain of 10.79%.
Meanwhile, developed markets outside the U.S. recorded a notable gain of 4.29% in August, bringing their year-to-date growth to 24.56%.
Prominent gains were marked in Denmark and Japan, although these markets experienced the largest declines in August.
Emerging markets exhibited resilience with a 2.48% gain for the month, accumulating a year-to-date performance of +16.04%, driven by notable surges from Chile and Brazil, which posted gains of 9.63% and 8.46%, respectively.
The growth trend is also evident in the types of ETFs attracting investor interest. In August, equity ETFs fetched net inflows of $42.02 billion, culminating in year-to-date inflows of $291.66 billion, which is slightly ahead of the corresponding figure in 2024.
Fixed income ETFs collected $31.66 billion in net inflows during the month, leading to total year-to-date inflows of $151.79 billion, an increase from $129.53 billion by the end of August 2024.
In a significant turnaround, commodities ETFs reported $4.98 billion in net inflows for August, improving on the $1.53 billion in net outflows seen during the same period last year.
Active ETFs also demonstrated robust growth, accumulating $43.41 billion in August, bringing their year-to-date inflows to $307.18 billion, a substantial rise from $180.22 billion observed at the same point last year.
The top 20 ETFs by net new assets accounted for substantial inflows of $57.11 billion in August, with the Vanguard S&P 500 ETF (VOO US) leading as the largest individual net inflow with $9.17 billion.
Additionally, the top 10 ETPs by net assets generated a cumulative $1.43 billion in net inflows during August, notably with the Fidelity Ethereum Fund (FETH US) receiving $493.44 million as its largest individual inflow.
The overall trend illustrates a marked investor inclination towards Active ETFs during August, signaling sustained confidence in the ETF sector despite market fluctuations.
For further inquiries regarding the press release or to learn more about ETFGI’s events, research, or consulting services, contact [email protected].
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