ETFs Take In $43B, Push 2025 Flows to New Record

U.S.-listed ETFs absorbed $43.4 billion in the week ending Friday, Nov. 14, pushing year-to-date inflows to a fresh annual record of more than $1.17 trillion.

Roughly half of last week’s haul went into U.S. equity ETFs, which gathered $22.5 billion. Another $7.8 billion flowed into U.S. fixed income ETFs, $7.5 billion into international equity ETFs, $3.7 billion into international fixed income ETFs, and $2.7 billion into leveraged ETFs. Commodity funds added $1.2 billion, while currency ETFs bled $1.7 billion.

Broad U.S. Equity Still Dominates

Large-cap stocks once again led the pack. The Vanguard S&P 500 ETF (VOO) took in $6.6 billion, while the iShares Core S&P 500 ETF (IVV) added $3.6 billion. VOO’s year-to-date total now stands at $112 billion, extending its lead as the top ETF of 2025 by a wide margin.

The strong flows came despite a tough week for stocks. Concerns about the durability of the AI boom weighed on markets, with investors debating whether the tech names powering the year’s gains can keep running. The S&P 500 slipped more than 3% from its record high, while the Nasdaq-100 fell about 5% from its own peak.

Treasury Demand Stays Firm

Bond yields ticked higher, with the 10-year Treasury holding above 4.1%. Still, demand for duration among ETF investors was strong. The iShares 7-10 Year Treasury Bond ETF (IEF) saw $3.5 billion in inflows, good enough to put it at the No. 3 spot on the weekly leaderboard.

The iShares Russell 2000 ETF (IWM) followed with $1.5 billion in inflows. Small caps have been stuck in a slump; IWM is up just 6% in 2025, less than half of VOO’s 14% gain. But last week’s inflows suggest some investors are positioning for a rebound or simply rebalancing into the underperformers.

Meanwhile, international equities continue to outperform U.S. stocks, and investors are taking note. The iShares Core MSCI EAFE ETF (IEFA) pulled in $1.3 billion, while the iShares Core MSCI Emerging Markets ETF (IEMG) added $1.2 billion. The two ETFs are up 30% and 27%, respectively, year-to-date, sharply ahead of VOO.

MBS and Bitcoin Funds Lead the Losses

On the outflows side, the iShares MBS ETF (MBB) shed $1.3 billion, the largest weekly loss among fixed income funds.

Crypto-linked ETFs were also hit hard, with three bitcoin products landing in the top 10 outflows list for the week: the Fidelity Wise Origin Bitcoin Fund (FBTC), which lost $344 million; the Roundhill Bitcoin Covered Call Strategy ETF (YBTC), which shed $303 million; and the Grayscale Bitcoin Mini Trust ETF (BTC), which saw $294 million in outflows, as the price of bitcoin fell to a six-month low below $95,000 last week.

For the complete lists of last week’s top inflows and outflows, see the tables below.

Top 10 Creations (All ETFs)

Top 10 Redemptions (All ETFs)

ETF Weekly Flows By Asset Class

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.