Strong Equity Inflows Dominate Weekly ETF Flows

Date: 2025-11-24 The Weekly Report's Time Range: 11.17-11.21

Market Overview

The week saw significant inflows into a variety of equity-focused ETFs, suggesting a preference for risk-on positioning. Large-cap U.S. equity ETFs, including those tracking the S&P 500, attracted the bulk of the inflows, which may indicate investor confidence in broad equity markets. Momentum and value factor strategies also saw strong interest, as reflected by the performance and inflow of the iShares MSCI USA Momentum Factor ETF and the iShares S&P 500 Value ETF.

Bond funds experienced more modest inflows, with ultra-short duration and broad bond market ETFs showing some activity, which could suggest continued demand for income and stability amid a generally positive equity environment.

ETF Highlights

The iShares MSCI USA Momentum Factor ETF (MTUM) recorded the largest weekly net inflow. Its 14.94% change over the week and $19.26B in AUM may suggest strong appetite for momentum-oriented U.S. equities, with investors possibly seeking to capitalize on recent performance trends in the strategy.

The Vanguard Short-Term Bond ETF (BSV) attracted the second-largest inflow. With a 2.29% weekly change and $41.01B in AUM, the inflow could reflect continued demand for short-duration, low-risk fixed income assets, possibly in response to macroeconomic expectations or portfolio rebalancing.

The iShares S&P 500 Value ETF (IVE) saw the third-largest inflow. With a 7.99% change and $45.91B in AUM, the inflow may indicate a shift toward value-oriented equities within the S&P 500, possibly reflecting investor interest in undervalued large-cap stocks.

The Vanguard S&P 500 ETF (VOO) recorded the fourth-largest inflow. Its 12.46% change and massive $789.26B in AUM likely underscore ongoing broad-based demand for core U.S. equity exposure, potentially signaling confidence in the S&P 500’s performance and long-term stability.

The ProShares UltraPro Dow30 (UDOW) attracted significant inflow despite its smaller AUM of $675.29M. With a 10.44% weekly change, this could point to niche interest in leveraged Dow 30 exposure, possibly indicating a tactical bet on blue-chip performance.

The iShares Core S&P 500 ETF (IVV) reported the sixth-largest inflow. With a 12.50% change and $705.16B in AUM, the inflow reinforces the strong appetite for core U.S. equity exposure through an S&P 500 index fund, suggesting continued inflow into passive large-cap strategies.

The Vanguard Total Bond Market ETF (BND) received the seventh-largest inflow. With a 3.63% change and $144.16B in AUM, the inflow may reflect ongoing interest in broad bond market exposure, which could indicate a demand for yield and diversification in a generally risk-on environment.

The iShares 0-3 Month Treasury Bond ETF (SGOV) saw relatively modest inflow. Its 0.28% change and $63.66B in AUM may point to continued, albeit cautious, interest in ultra-short-duration government bonds, possibly reflecting a preference for liquidity and safety.

The iShares Core MSCI Emerging Markets ETF (IEMG) captured the ninth-largest inflow. With a 25.58% weekly change and $113.65B in AUM, the inflow could suggest growing interest in emerging market equities, possibly reflecting a shift toward higher-growth, international opportunities.

The iShares Russell 3000 ETF (IWV) received the tenth-largest inflow. With an 11.84% change and $17.53B in AUM, the inflow may indicate demand for broad U.S. equity exposure covering small-, mid-, and large-cap stocks, possibly signaling a preference for diversified domestic exposure.

Notable Trends / Surprises

The inflows reflect a strong tilt toward U.S. equity exposure, particularly in large-cap and broad market strategies, which could suggest continued confidence in the domestic equity market. The significant inflow into the iShares Core MSCI Emerging Markets ETF may indicate a shift toward international opportunities, while the inflow into leveraged and momentum-based strategies points to active positioning in specific equity strategies. The relatively modest bond inflows, with the exception of ultra-short and total bond ETFs, suggest a cautious approach to fixed income.

Conclusion

The week’s inflows may indicate a risk-on bias with a strong preference for U.S. equity exposure, particularly through large-cap and S&P 500 ETFs. Factor and leveraged strategies also saw notable interest, which could reflect tactical positioning. While bond inflows were less pronounced, the continued activity in ultra-short and total bond ETFs may point to demand for liquidity and yield. Taken together, these flows could suggest confidence in the equity market and a general willingness to take on risk, at least in the near term.