Global Equity and Precious Metals ETFs Attract Strong Inflows Amid Year-End Positioning

Date: December 25, 2025

Market Overview

Year-end investor activity on December 25, 2025, showed a clear tilt toward global equity and commodity ETFs, with notable inflows into international markets, gold, and silver vehicles. While bond ETFs represented a smaller share of the top 10 inflows, the scale of capital deployed into large-cap U.S. equities and diversified global exposures suggests a focus on balancing growth and hedging ahead of the year’s close. The absence of sector-specific ETFs in the rankings highlights a preference for broad-market and macro-hedging strategies, possibly reflecting cautious positioning amid end-of-year portfolio adjustments.

ETF Highlights

The SPDR S&P 500 ETF Trust (SPY) led inflows with $5.65 billion, reinforcing its role as a core proxy for U.S. large-cap equities. Its $711.96B AUM and 17.80% YTD gain may have supported inflows as investors sought liquidity or year-end tax optimization. The Vanguard FTSE Developed Markets ETF (VEA) added $3.09 billion, aligning with its 31.07% YTD performance and focus on mature international markets, potentially signaling appetite for stable-growth regions.

The Vanguard Total International Stock ETF (VXUS) attracted $2.23 billion, reflecting its $119.38B AUM and 28.30% YTD return, which could indicate a strategic shift toward diversified global equities. Meanwhile, the SPDR Gold Shares (GLD) saw $1.68 billion in inflows despite a 70.13% YTD surge, possibly suggesting hedging against volatility or expectations of sustained metal prices.

The Vanguard FTSE Emerging Markets ETF (VWO) and iShares Silver Trust (SLV) added $1.58 billion and $1.13 billion, respectively, with VWO’s 21.89% YTD rise and SLV’s 147.70% YTD jump likely amplifying interest in high-growth and commodity-linked assets. The Vanguard FTSE All-World ex-US ETF (VEU) and SPDR Dow Jones Industrial Average ETF Trust (DIA) also drew significant inflows, highlighting a dual focus on international diversification and blue-chip U.S. industrials.

Bond flows were limited to the iShares Core U.S. Aggregate Bond ETF (AGG), which took in $449.04 million. Its 3.22% YTD gain and $134.74B AUM may have made it a destination for income seekers or those rebalancing risk profiles.

Notable Trends / Surprises

The dominance of international equity and commodity ETFs in the top 10 inflows—five of the 10 are global or emerging markets vehicles—underscores a pronounced shift toward non-U.S. exposures and hard assets. The inclusion of both GLD and SLV, which posted the highest and third-highest YTD gains among the group, further emphasizes a tactical tilt toward inflation hedges and commodity cycles.

Conclusion

Today’s inflows may indicate a strategic reallocation toward global equities and precious metals, with investors potentially positioning for macroeconomic resilience or hedging against near-term uncertainties. The scale of capital flowing into SPY and international ETFs could reflect a blend of year-end portfolio balancing and confidence in diversified equity growth, while gold and silver inflows highlight ongoing demand for alternative hedges. The modest bond inflow into AGG suggests a cautious, income-focused counterbalance to riskier assets, though its limited scale indicates equities remained the primary focus.