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Despite over $104B of monthly inflows, U.S. ETF assets fell 4.6% to $13.6T due to market moves.
The rotation continues with energy, industrials and utilities sector experiencing solid inflows.
No surprise, ultrashort bond ETFs attracted strong demand as investors sought cash-like safety amid volatility.
Active spotlight
Flows totaled about $57 billion for the month. This year, about 42% of ETF flows have gone into active strategies.
60 active ETFs were launched in March. Active ETFs represent 80% of total ETF launches in 2026.
Foreign large blend and derivative income led category flows this month, reflecting the growing role of international exposure in portfolios and continued demand for income.
The rise of active within fixed Income
The fixed income ETF universe began with a focus on passive strategies, but a tension in this relationship is that fixed income is largely an active asset class. As fixed income and the ETF structure continue to converge, it’s important for investors to understand that the fixed income market has many nuances and complexities that passive strategies can’t address.
Fixed income is off to a record start this year, with $55B in inflows and on pace to exceed $200B for the first time. Flows have been broad-based, led by ultrashort bond, intermediate core-plus, and multisector bond.
Guide to ETFs featured slide of the month (slide 23)
