10 ETFs Bleeding Billions Despite Strong Market Inflows
- ETF investors have poured $340 billion into the market this year.
- But not every fund is sharing in the love.
- Many ETFs are quietly being abandoned.
U.S.-listed ETFs have pulled in a staggering $340 billion year to date, a sign of investor resilience amid ongoing market chaos. Even last week, despite wild swings in stocks and bonds, ETFs brought in over $36 billion in new money.
But beneath the surface, many ETFs are quietly being abandoned.
Stealth ETF Outflows
Roughly a third of all ETFs have seen outflows this year, according to etf.com’s screener. That includes some of the most recognizable names in the market.
Source: etf.com ETF Screener
Our ETF Screener enables you to refine the ETF Universe to find a subset of ETFs that fit any investment goal. Use the search filters on the left side of the screen results to add criteria to help you find the best ETFs and narrow your exchange-traded funds search. Take it for a test drive right here.
SPY
At the top of the outflows list is the SPDR S&P 500 ETF Trust (SPY), which has shed $11.5 billion in 2025. The fund, long the world’s largest ETF, was recently overtaken by its cheaper rival, the Vanguard S&P 500 ETF (VOO). SPY tends to attract short-term traders, and many have headed for the exits during this stretch of volatility.
XLE
Next up is the Energy Select Sector SPDR Fund (XLE), with $4.9 billion in redemptions. Oil prices briefly dipped below $60 a barrel—levels not seen since the pandemic—as fears around global demand and an escalating trade war between the U.S. and China spooked markets. Adding to the pressure is increased supply from OPEC producers.
EFG
The iShares MSCI EAFE Growth ETF (EFG) has seen $3.9 billion in outflows—unusual in a year when international equity funds have generally been favored. Despite the redemptions, EFG is up 2.4% year to date, outperforming the Vanguard Growth ETF (VUG), which is down 12% but lagging the iShares MSCI EAFE ETF (EFA), which is up 6.5%.
IWM & CALF
Small-cap stocks have also taken a hit. The iShares Russell 2000 ETF (IWM) is down more than 15% and has seen $2.8 billion in outflows. The Pacer US Small Cap Cash Cows ETF (CALF) has lost another $2.4 billion as investors shy away from small, economically sensitive companies.
BKLN
In the fixed-income world, riskier debt hasn’t fared much better. The Invesco Senior Loan ETF (BKLN), which holds leveraged loans to highly indebted companies, has seen $2.6 billion walk out the door.
GOVT & TLT
Even safe-haven Treasurys haven’t been spared. The iShares U.S. Treasury Bond ETF (GOVT) and iShares 20+ Year Treasury Bond ETF (TLT) have lost $2.7 billion and $2.4 billion, respectively, as concerns mount over weaker-than-expected performance and the possibility that the U.S. trade war could crimp foreign demand for government debt.
FXI
Lastly, the iShares China Large-Cap ETF (FXI) has seen $2.2 billion in outflows—no surprise given the trade tensions. Yet, interestingly, FXI is actually up 9% year to date, as some investors bet China may come out of the trade war stronger than expected.
GDX
Meanwhile, the VanEck Gold Miners ETF (GDX) has quietly lost $2.2 billion year to date, even as gold prices and mining stocks have soared. The fund has posted strong gains in 2025, but that hasn’t stopped investors from pulling money. Some may be taking profits after the run-up, while others remain skeptical about how long the rally can last.
Outflows, in many cases, say more about sentiment among a specific group of investors—those that use ETFs—than performance. And in this environment, fear is driving some of those investors to cash, even as others keep piling in.
