Investors Pour $32B Into ETFs in Strong Start to 2025

Sumit Roy

Senior ETF Analyst

Jan 06, 2025

Reviewed by: Paul Curcio

Edited by: Kiran Aditham

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ETF inflows kicked off the new year with a bang as investors put nearly $32 billion to work across the nearly 4,000 U.S.-listed funds.

Of that number, over $25 billion went into U.S. equity exchange-traded funds, while $3.9 billion and $2.5 billion went into U.S. fixed income ETFs and international equity ETFs, respectively.

The biggest winners of the week were the Invesco QQQ Trust (QQQ), the Vanguard S&P 500 ETF (VOO) and the SPDR S&P 500 ETF Trust (SPY), with inflows of $4.6 billion to $6.5 billion.

VOO scored a record for calendar-year inflows last year, adding $113 billion. The ETF currently has $584 billion in assets under management (AUM), just $40 billion shy of the SPDR S&P 500 ETF Trust (SPY), the world’s largest ETF by AUM today.

The S&P 500 performed well during its first week, rising 1%. However, the index remains a couple of percentage points off its all-time high from early December.

Outflows From Small Caps, Long Bonds

On the outflows side of the ledger, the iShares Russell 2000 ETF (IWM), the iShares 20+ Year Treasury Bond ETF (TLT), and the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) topped the list, each with redemptions of more than $1 billion.

IWM rose around 1.5% during the first week of the year, outperforming its large-cap counterparts. Last year, the ETF rose just 11.4%, less than half of SPY’s 24.9% return.

IWM has no exposure to the Magnificent Seven group of tech and tech-adjacent stocks that have been powering the S&P 500.

Meanwhile, TLT was essentially flat during its first week as long bonds attempted to stabilize following a steep drop last year (TLT finished the year with an 8% loss).

The 30-year Treasury yield was last trading at 4.85%, the highest level since Nov. 2023 (bond prices and yields move inversely).

For a full list of last week’s top inflows and outflows, see the tables below:

Top 10 Creations (All ETFs)

Ticker	Name	Net Flows ($, mm)	AUM ($, mm)	AUM % Change<
QQQ	Invesco QQQ Trust Series I	6,511.00	319,367.83	2.04
VOO	Vanguard S&P 500 ETF	5,266.91	584,101.66	0.90
SPY	SPDR S&P 500 ETF Trust	4,615.77	624,531.94	0.74
IVV	iShares Core S&P 500 ETF	1,326.29	583,960.93	0.23
FBCG	Fidelity Blue Chip Growth ETF	941.74	3,843.56	24.50
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	831.93	36,628.54	2.27
VXUS	Vanguard Total International Stock ETF	781.36	74,903.19	1.04
VUG	Vanguard Growth ETF	732.56	155,667.65	0.47
BND	Vanguard Total Bond Market ETF	718.55	121,484.23	0.59
IWD	iShares Russell 1000 Value ETF	715.57	63,194.58	1.13

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($, mm)	AUM ($, mm)	AUM % Change
IWM	iShares Russell 2000 ETF	-1,875.72	72,156.09	-2.60
TLT	iShares 20+ Year Treasury Bond ETF	-1,304.43	49,718.56	-2.62
LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	-1,026.22	28,782.08	-3.57
XLF	Financial Select Sector SPDR Fund	-880.67	47,701.20	-1.85
XLI	Industrial Select Sector SPDR Fund	-751.49	20,021.30	-3.75
XLE	Energy Select Sector SPDR Fund	-605.80	33,397.56	-1.81
IWN	iShares Russell 2000 Value ETF	-402.23	12,274.86	-3.28
TIP	iShares TIPS Bond ETF	-394.74	13,151.95	-3.00
SCHP	Schwab US TIPS ETF	-348.45	11,481.44	-3.03
SPAB	SPDR Portfolio Aggregate Bond ETF	-332.65	8,296.05	-4.01

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
Alternatives	31.90	8,681.75	0.37%
Asset Allocation	232.93	21,310.02	1.09%
Commodities ETFs	-96.59	161,085.48	-0.06%
Currency	-996.19	110,565.20	-0.90%
International Equity	2,463.01	1,516,108.52	0.16%
International Fixed Income	1,429.55	252,041.84	0.57%
Inverse	-426.41	11,127.67	-3.83%
Leveraged	17.60	118,059.95	0.01%
US Equity	25,223.30	6,568,633.85	0.38%
US Fixed Income	3,900.39	1,532,294.62	0.25%
Total:	31,779.49	10,299,908.89	0.31%

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.

Sumit Roy

| Contact: [email protected]

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.

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Investors Pour $32B Into ETFs in Strong Start to 2025

Outflows From Small Caps, Long Bonds

ETF Weekly Flows By Asset Class

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