##  [# ETF Inflows Resilient Amid April's Quick Ups and Downs](/sections/monthly-etf-flows/etf-inflows-resilient-amid-aprils-quick-ups-and-downs) 

 

# ETF Inflows Resilient Amid April's Quick Ups and Downs

 

 

\- VOO, BIL and SMBS led April’s $62 billion haul as investors sought both safety and opportunity.  
\- On the riskier side of the spectrum, some traders pounced on the tech pullback.



 

 

 

 

 [![sumit](/sites/default/files/styles/author_image_icon/public/2023-03/Sumit_0.png?itok=SO-7S5SH "sumit")](/authors/sumit-roy) 

[By Sumit Roy ](/authors/sumit-roy)

 May 02, 2025

 Edited by: David Tony

 

 

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April was a rollercoaster for markets. The S&amp;P 500 dropped as much as 11% during the month before clawing its way back to finish down less than 0.7%. Despite the turbulence, ETF flows showed investors stayed the course, albeit a bit more cautiously.

U.S.-listed ETFs pulled in $62 billion during the month—a solid showing even if down from the $96 billion seen in March. That brought year-to-date inflows to $355 billion, keeping 2024 on pace for one of the strongest years on record for ETF demand.

## Vanguard Dominates (Again)

At the top of the leaderboard was the [**Vanguard S&amp;P 500 ETF (VOO)**](/voo), which raked in $20.9 billion in April alone. Its appeal as a low-cost, broad-market play continues to resonate, especially in volatile markets. On a year-to-date basis, VOO has now amassed $55.7 billion in inflows, putting it on track for yet another $100+ billion year, a feat it achieved for the first time in 2024.

The [**Vanguard Total Stock Market ETF (VTI)**](/vti) also saw strong demand, with $5.1 billion in April inflows.

 
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## Flight to Safety

Amid heightened concerns about long-term interest rates during April, some investors sought shelter in the short end of the yield curve.

The [**SPDR Bloomberg 1-3 Month Treasury Bill ETF (BIL)**](/bil) and the [**iShares 0-3 Month Treasury Bond ETF (SGOV)**](/sgov) pulled in $6.6 billion and $5.5 billion, respectively.

The move reflected caution around longer-dated Treasurys, especially amid worries about tepid foreign demand and rising term premiums. Though yields cooled by month’s end, short-duration ETFs remained the go-to for risk-averse investors.

## Mortgage ETF Shake-Up

In one of the most eye-catching moves of the month, the [**Schwab Mortgage-Backed Securities ETF (SMBS)**](/smbs) pulled in a jaw-dropping $4.9 billion. A massive sum for an ETF that had just $52 million in assets at the start of the month.

The flows appear to be part of a large institutional reallocation, as the [**Vanguard Mortgage-Backed Securities ETF (VMBS)**](/vmbs) simultaneously saw $4.8 billion in outflows.

Both funds track the same Bloomberg index, so the switch likely reflects portfolio or platform-level adjustments rather than a directional bet on mortgage-backed securities.

## Traders Buy the Dip

On the riskier side of the spectrum, some traders pounced on the tech pullback. The [**Direxion Daily Semiconductor Bull 3x Shares (SOXL)**](/soxl) pulled in $3.2 billion in April as bulls attempted to time a rebound in the beaten-down semiconductor sector.

For a full list of the top inflows for April, see the table below.  
  
![ETF flows](/sites/default/files/inline-images/Aprilflows.png)*April ETF Inflow Leaders—Source: FactSet*



 

 

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 [ Sumit Roy Senior ETF Analyst ](/authors/sumit-roy) 

 

 

  Sumit Roy is the senior ETF analyst for etf.com and author of (Don't) Invest Like a Pro. He creates a variety of content for the platform, including…   [View Bio](/authors/sumit-roy)

 



 

 


 Related Topics  [Equity](http://www.etf.com/topics/equity) 

 [Bond](http://www.etf.com/topics/bond) 

 [Treasury Bond ETFs](http://www.etf.com/topics/treasury-bond-etfs) 

 [Mortgages](http://www.etf.com/topics/mortgages)