ETFGI, reports record US$1.50 trillion in 2025 net inflows push U.S. ETF Industry assets to US$13.43 trillion milestone. During December, the ETFs industry in the United States gathered net inflows of US$223.00 billion, bringing year-to-date net inflows to US$1.50 trillion, according to ETFGI’s December 2025 US ETFs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)  ETFGI, is a leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, events, and ETF TV on global ETF industry trends.

U.S. ETF Industry Highlights – December 2025

• Record AUM: U.S. ETF assets reached $13.43 trillion at the end of December, surpassing the previous record of $13.22 trillion set in November 2025.
• Strong Annual Growth: Assets grew 29.8% year‑to‑date, rising from $10.35 trillion at the end of 2024 to $13.43 trillion.
• December Inflows: ETFs saw $223.00 billion in net inflows during December.
• Record Annual Inflows: 2025 YTD net inflows totaled $1.50 trillion, the highest on record—well above $1.17 trillion in 2024 and $919.77 billion in 2021.
• Consistent Momentum: December marked the 44th consecutive month of net inflows into U.S. ETFs.
• iShares remains the largest provider in the United States, managing US$3.99 trillion and holding 29.7% of the market. Vanguard ranks second with US$3.86 trillion and a 28.7% share, followed by State Street SPDR ETFs with US$1.83 trillion and 13.7%. Together, the top three providers—out of 460—account for 72.1% of total U.S. ETF industry, while the remaining 457 issuers each represent less than 6% of the market.

“The S&P 500 increased by 0.06% in December and was up by 17.88% in 2025. Developed markets excluding the US increased by 3.30% in December and were up 35.10% in 2025. Korea (up 10.98%) and Austria (up 7.89%) saw the largest increases amongst the developed markets in December. Emerging markets increased by 1.63% during December and were up 24.39% in 2025. Peru (up 9.87%) and South Africa (up 9.49%) saw the largest increases amongst emerging markets in December.” According to Deborah Fuhr, managing partner, founder, and owner of ETFGI.

Growth in assets in the ETFs industry in the United States as of the end of December

The ETFs industry in the United States has 4,883 products, assets of US$13.43 Tn, from 460 providers listed on 3 exchanges at the end of 2025.

During December, ETFs s attracted $223.00 billion in net inflows. 

Equity ETFs led with $149.03 billion for the month, bringing year‑to‑date inflows to $656.95 billion, surpassing the $605.92 billion gathered by this point in 2024. Fixed income ETFs added $23.79 billion in December, resulting in $258.14 billion in YTD inflows, ahead of the $181.26 billion recorded by the end of December 2024. Commodity ETFs saw $9.33 billion in December net inflows, pushing YTD inflows to $56.36 billion, a significant increase from the $1.74 billion reported year‑to‑date in 2024. Active ETFs gathered $43.79 billion during the month, with YTD inflows reaching $514.56 billion, far exceeding the $313.70 billion reported at this time in 2024.

Substantial inflows can be attributed to the top 20 ETF‘s by net new assets, which collectively gathered $109.92 Bn in December. iShares Core S&P 500 ETF (IVV US) gathered $29.29 Bn, the largest individual net inflow.

Source: ETFGI