The U.S. ETF industry reached a record $10.73 trillion in assets invested at the end of January, ETFGI reports.
The ETF industry posted record net inflows of $90.25 billion last month, according to ETFGI’s January 2025 US ETFs and ETPs industry landscape insights report. The monthly report is part of an annual paid-for research subscription service.
Among the report’s highlights:
January’s total assets invested in ETFs — $10.73 trillion — surpassed the previous record of $10.59 trillion at the end of November 2024.
The record January net inflows of $90.25 billion surpasses the previous record for January net inflows of $78.78 billion for 2018 and the third highest recorded January net inflows of $71.09 billion in 2024.
Vanguard led with the highest net inflows in January, $36.05 billion. Second was iShares, $9.64 billion, and third was Invesco, $7.70 billion.
SPDR ETFs experienced the largest net outflows in January, $11.28 billion. Direxion was second with $947.06 million and VanEck was third with $890.28 million.
January was the 33rd consecutive month of net inflows.
The U.S. ETF industry had 3,993 products, assets of $10.73 trillion and 372 providers listed on three exchanges at the end of January.
In the U.S., iShares is the largest ETF provider with $3.25 trillion AUM in 448 ETFs, for 30.3% market share. Vanguard is second with $3.10 trillion in 88 ETFs and 28.9% market share. SPDR ETFs are third, with $1.53 trillion AUM in 158 ETFs and 14.3% market share. These three providers, out of 372, account for 73.4% of the $10.73 trillion invested in the U.S. ETF industry. The remaining 369 providers each have less than 7% market share.
“The S&P 500 index increased by 2.78% in January,” said Deborah Fuhr, managing partner, founder, and owner of ETFGI. “The developed markets excluding the U.S. index increased by 4.71% in January. Germany (up 9.04%) and Sweden (up 8.81%) saw the largest increases amongst the developed markets in January. The Emerging markets index increased by 0.31% during January. Colombia (up 17.29%) and Brazil (up 12.68%) saw the largest increases amongst emerging markets in January.
