ETF Daily Fund Inflow Report

September 11, 2025

Headline: Growth and Safe-Haven Assets Attract Capital as Equity and Gold ETFs Lead Inflows

Market Overview
Today’s fund flows reflect a mixed investor sentiment, with capital splitting between growth-oriented equities and defensive assets. Equity-focused ETFs, particularly those tied to large-cap and innovation-driven themes, dominated inflows, while gold ETFs also attracted significant demand. Bond ETFs saw more modest inflows, though tax-exempt and municipal bond funds underperformed year-to-date. The rotation suggests a balance between risk-on positioning and caution, though macroeconomic catalysts remain unclear at this time.

ETF Highlights
The SPDR S&P 500 ETF Trust (SPY) led the day with $2.50B in inflows, underscoring continued demand for broad U.S. equity exposure. As a benchmark proxy for the S&P 500, SPY’s 12.21% YTD gain and $665.51B AUM highlight its role as a core holding for diversified portfolios. The Invesco QQQ Trust (QQQ), tracking the Nasdaq-100, added $1.27B, likely reflecting appetite for growth-oriented technology stocks. QQQ’s 14.25% YTD return and $367.27B AUM reinforce its appeal in a sector-biased market environment.

The iShares Russell 2000 ETF (IWM) attracted $619.08M, pointing to renewed interest in small-cap equities. Its 8.98% YTD performance and $67.12B AUM suggest investors are cautiously allocating to cyclical plays. Innovation-focused ETFs also shone: ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW) saw $612.19M and $308.25M inflows, respectively. ARKW’s extraordinary 50.01% YTD surge—despite an $8.68B AUM for ARKK—may indicate speculative bets on high-growth themes, though sustainability remains uncertain.

Gold ETFs iShares Gold Trust Micro (IAUM) and SPDR Gold MiniShares Trust (GLDM) drew $206.45M and $185.05M, respectively, despite both up over 38% YTD. This points to ongoing demand for safe-haven assets, possibly hedging against volatility. Conversely, municipal bond ETFs iShares National Muni Bond (MUB) and Vanguard Tax-Exempt Bond (VTEB) saw smaller inflows ($168.62M and $173.46M), though their negative YTD returns (-0.07% and -0.22%) suggest investors prioritize tax advantages over yield in a low-rate environment.

Notable Trends
The top 10 highlights a duality in investor priorities: growth equities and gold are attracting capital despite already strong YTD performance, while bond ETFs with tax benefits see modest inflows despite underperformance. The ARK suite’s inflows, coupled with their outsized YTD gains, may signal momentum-driven positioning, though caution is warranted given their volatility. Meanwhile, gold’s resilience in attracting funds despite a 38%+ YTD rise could foreshadow prolonged macroeconomic uncertainty.

Conclusion
Today’s flows signal a market balancing growth optimism and defensive positioning. Strong inflows into equity and gold ETFs suggest investors are hedging against a mixed macro outlook, while bond allocations remain constrained. The emphasis on innovation and small-cap equities, alongside safe-haven demand, may indicate a search for both returns and downside protection, though sustainability of these trends will depend on near-term economic signals.