AUM, flows and more
- ETF flows totaled over $154Bn for the month, and U.S. ETF assets are now $16.3Tn.
- Foreign large caps ($21.3Bn) and Ultrashort Bonds ($20.5Bn) led September flows by a wide margin.
- Fixed income ETFs accounted for 41% of September ETF flows despite making up just 30% of YTD ETF flows.
Active spotlight
- Flows totaled $63Bn for the month. This year, about 36% of ETF flows have gone into active strategies.
- 71 active ETFs were launched in September, accounting for 76% of all ETF launches in the month.
2026 ETF launches approach a new record
The U.S. ETF market continues to expand at a record pace, with YTD launches surpassing 1,000 in September. Through just three quarters, 1,069 new ETFs have come to market, already approaching the previous full-year record (1,115) set in 2025. More than 80% of this year’s launches have been actively managed, extending a multi-year pattern where active funds have accounted for ~80% of combined ETF launches over the past three years. This trend has driven the percentage of ETFs that are actively managed above 60%, compared to just 16% in 2019 when the ETF rule came into effect. Issuance is also increasingly concentrated in derivatives-based ETFs – including income-generation and leveraged/inverse funds – reflecting investor demand for outcome-based solutions. Together, these categories have accounted for nearly half of 2026 launches.
