ETF Inflows Stay Torrid With Nearly $200B in May

Investors poured almost $200 billion into US-listed ETFs in May, keeping up the torrid pace they've set all year. Year-to-date inflows now stand at nearly $836 billion. At this rate the figure could top $1 trillion by the end of June and $2 trillion by year-end.

About half of May's haul, roughly $100 billion, went into US equity ETFs. The rest was split mostly between US fixed income ETFs, which took in $47 billion, and international equity ETFs, which pulled in $32 billion. Currency ETFs shed $2.3 billion and leveraged ETFs lost the same amount.

The stock market rocketed higher in May, pushing its 2026 gains into the double digits.

The Vanguard S&P 500 ETF (VOO) topped the list of individual flows with $18.7 billion, but its rivals weren't far behind. The iShares Core S&P 500 ETF (IVV) pulled in $15.3 billion and the SPDR S&P 500 ETF Trust (SPY) took in $9.9 billion.

The standout was the Roundhill Memory ETF (DRAM), which pulled in almost $8 billion and now sits at $13.4 billion in assets. 
Stocks of memory companies have gone vertical on the back of their centrality to the AI boom. DRAM rose more than 60% during the month.

On the fixed income side, the iShares 0-3 Month Treasury Bond ETF (SGOV) led with $6.7 billion of inflows. No international ETF cracked the top 10.

Meanwhile, on the outflows side, the iShares MSCI USA Quality Factor ETF (QUAL) saw the most redemptions at $5 billion. The Direxion Daily Semiconductor Bull 3x Shares (SOXL) followed with $3.9 billion as traders took profits after the fund's massive spike. 

The iShares MSCI South Korea ETF (EWY) was next with $2.9 billion in outflows. The fund has performed phenomenally, but investors have gravitated toward DRAM to get the same high bandwidth memory exposure they were chasing with EWY.

For a full list of the top inflows and outflows for May and for 2026 as a whole, see the tables below.