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Investor Interest in U.S. Equity ETFs Slowed in September

BY | ETF Database
10/08/2026 | 203 VIEWS
September saw the influx of dollars into U.S. ETFs continue, despite the fact that the year had already surpassed the record level seen in all of 2025, with another three months yet to go for 2026. With $1.5 trillion in inflows bringing the total AUM for U.S.-listed ETFs to $16.3 trillion year-to-date, 2026 seems destined to go down in the record books.Key Takeaways The U.S. ETF market reached $16.3 trillion AUM in September on record $1.5 trillion year-to-date inflows. Domestic equity ETF inflows slowed as investors rotated into fixed income and international funds. Although currency saw its flows slow during September, the largest bitcoin ETF still pulled in an impressive $2 billion. However, the $140.7 billion added in September represents a fall-off from the $179.8 billion added in August, primarily caused by a drop in assets flowing into domestic equity ETFs. Such funds pulled in $35.6 billion last month, less than half of what they gathered in August.Domestic Equity ETFs Faded a Bit in SeptemberFor much of 2026, domestic large-cap equities have been the undisputed anchor of client portfolios, until a shift in investor attitudes in September. The State Street SPDR Portfolio S&P 500 ETF (SPYM), despite maintaining a solid 12.98% year-to-date return, saw its performance flatten out for the month of September. The fund still added another $3.4 billion in September, down from the $5.3 billion it gathered in August. See More: Initial 5-ETF Lineup Released for Newly Launched Trump Accounts The iShares Core S&P Small-Cap ETF (IJR A-), which recorded an impressive 16.21% trailing one-year return, still recorded a negative return in September and saw outflows ($209 million) that month that reversed much of its inflows in August ($283.7 million). Meanwhile, international equity ETFs saw their aggregate flows remain nearly flat with the prior month. Clearly, while enthusiasm dimmed for domestic equity funds, international equity funds maintained their appeal. In particular, the Vanguard FTSE Developed Markets ETF (VEA A-) added $1 billion in assets in September, roughly $100 million more than in the prior month.Fixed Income & CommoditiesFixed income ETFs added $1.4 billion more than they did in August, as investor interest tilted more to safety and diversification. Notably, U.S. fixed income ETFs, specifically, added $46.8 billion, up from $43.7 billion in August, while international fixed income ETFs added $11.3 billion, a decrease from the $13 billion added in August. Commodities, which had a surge of $10.1 billion in investment in August added just $4.4 billion in September. The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PBDC A-) saw its net inflows sharply decline over the two months, from more than $460 million in August to $166.2 million in September. From August to September, net inflows for the SPDR Gold MiniShares Trust (GLDM ) noticeably declined due to a broader pullback in gold allocations and overall commodity ETF flows. GLDM saw $737 million net inflows in September, down from $1.75 billion in August.Currency Saw Inflows, Plus Bitcoin BoostCurrency, too, saw its inflows wane from $5.2 billion in August to $4.7 billion in September. The iShares Bitcoin Trust (IBIT ) benefited from a major short squeeze that pushed underlying bitcoin prices past $85,000 late in the month. The fund gained another $2 billion in assets during the month, on top of the $2.8 billion added in August. See More: The IBIT Effect: Why New ETFs Now Scale Faster Although investor dollars are continuing to roll into U.S.-listed ETFs, domestic equity funds seem to be giving ground to a more diverse range of asset classes. For more news, information, and analysis, visit the Equity ETF Content Hub.

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