ETFGI report on ETFs and ETPs listed globally – September 2026

All figures are expressed in US dollars.

In September, net inflows stood at $276.06 billion, up from $248.15 billion in August. September thus marks the 88th consecutive month of positive net inflows.

Global assets under management at 23,910 billion

At the end of September 2026, global ETF assets under management stood at 23,910 billion US dollars, just below the all-time high of 24,030 billion reached at the end of August. Since the start of the year, assets have grown by 20.7 per cent, up from 19,810 billion at the end of 2025.

At the end of the month, the global industry comprised 17,989 ETFs, 34,573 listings, 1,076 issuers and 83 stock exchanges across 65 countries.

A comparison with previous years

ETFGI compares the 2,240 billion raised in the first nine months of 2026 with the 1,540 billion for the same period in 2025 and the 1,240 billion in 2024. For the whole of 2025, net inflows stood at 2,370 billion – the highest annual figure ever recorded – compared with 1,880 billion in 2024. With three months to go until the end of the year, 2026 is therefore approximately 130 billion below the annual record.

Equities, bonds and commodities

Equity ETFs remain the main component of inflows: in September they attracted $100.07 billion and have reached $976.17 billion year-to-date, compared with $677.01 billion in the first nine months of 2025.

Bond ETFs attracted $72.16 billion in September and $437.78 billion year-to-date, compared with $314.16 billion at the end of September 2025. ETFGI reports record levels of demand for this category.

Commodity ETFs recorded inflows of 22.22 billion for the month and 56.59 billion year-to-date, down from 73.18 billion in the first nine months of 2025. They are the only one of the main categories to show a decline compared with the previous year.

Active ETFs exceed 2025 levels

Active ETFs raised $75.84 billion in September. Net inflows since the start of the year total $733.95 billion, compared with $446.75 billion in the same period of 2025. The 2026 figure already exceeds the total inflows for the whole of 2025, which ETFGI had put at $637.47 billion. According to the firm, equity ETFs and actively managed ETFs were the main drivers of asset growth in 2026.

The largest issuers and the most sought-after products

iShares, Vanguard and State Street SPDR managed $13,930 billion at the end of September, accounting for 58.3 per cent of global ETF assets. Since the start of the year, they have collectively attracted $1,110 billion in net inflows, accounting for approximately 49.6 per cent of the sector’s total inflows.

The top 20 ETFs by net inflows attracted $82.52 billion in September. The State Street SPDR S&P 500 ETF Trust (SPY US) alone recorded inflows of $10.70 billion.

The US market

In its report on the United States, published on 16 October, ETFGI reports net inflows of 152.93 billion for US-listed ETFs in September and 1,560 billion since the start of the year. This figure exceeds the annual record of 1,500 billion set in 2025. Assets under management in US ETFs rose to 16,240 billion, up from 13,430 billion at the end of 2025.

Deborah Fuhr, managing partner, founder and owner of ETFGI, commented on the month’s market performance as follows:

‘In September, equity market performance weakened in both developed and emerging markets. The S&P 500 fell by 0.35 per cent, but remains up by 12.75 per cent year-to-date. Developed markets excluding the US fell by 2.72 per cent in September, whilst still posting substantial gains of 14.86 per cent year-to-date. New Zealand and Luxembourg recorded the largest declines amongst developed markets. Emerging markets also retreated, falling by 1.77 per cent over the month, whilst remaining up by 11.26 per cent in 2026. Turkey and the Czech Republic recorded the sharpest declines amongst emerging markets.

Conclusions

With $2,240 billion raised over nine months, global ETF inflows in 2026 are the highest ever recorded for this time of year. Inflows continued even during a month of declines for both developed and emerging equity markets.

To beat the annual record of 2,370 billion set in 2025, net inflows of around 130 billion are needed in the fourth quarter. The monthly average for 2026 so far stands at around 249 billion. It remains to be seen whether demand for bond ETFs will hold up and whether inflows into commodities will recover.

All figures are expressed in US dollars.

In September, net inflows stood at $276.06 billion, up from $248.15 billion in August. September thus marks the 88th consecutive month of positive net inflows.

Global assets under management at 23,910 billion

At the end of September 2026, global ETF assets under management stood at 23,910 billion US dollars, just below the all-time high of 24,030 billion reached at the end of August. Since the start of the year, assets have grown by 20.7 per cent, up from 19,810 billion at the end of 2025.

At the end of the month, the global industry comprised 17,989 ETFs, 34,573 listings, 1,076 issuers and 83 stock exchanges across 65 countries.

A comparison with previous years

ETFGI compares the 2,240 billion raised in the first nine months of 2026 with the 1,540 billion for the same period in 2025 and the 1,240 billion in 2024. For the whole of 2025, net inflows stood at 2,370 billion – the highest annual figure ever recorded – compared with 1,880 billion in 2024. With three months to go until the end of the year, 2026 is therefore approximately 130 billion below the annual record.

Equities, bonds and commodities

Equity ETFs remain the main component of inflows: in September they attracted $100.07 billion and have reached $976.17 billion year-to-date, compared with $677.01 billion in the first nine months of 2025.

Bond ETFs attracted $72.16 billion in September and $437.78 billion year-to-date, compared with $314.16 billion at the end of September 2025. ETFGI reports record levels of demand for this category.

Commodity ETFs recorded inflows of 22.22 billion for the month and 56.59 billion year-to-date, down from 73.18 billion in the first nine months of 2025. They are the only one of the main categories to show a decline compared with the previous year.

Active ETFs exceed 2025 levels

Active ETFs raised $75.84 billion in September. Net inflows since the start of the year total $733.95 billion, compared with $446.75 billion in the same period of 2025. The 2026 figure already exceeds the total inflows for the whole of 2025, which ETFGI had put at $637.47 billion. According to the firm, equity ETFs and actively managed ETFs were the main drivers of asset growth in 2026.

The largest issuers and the most sought-after products

iShares, Vanguard and State Street SPDR managed $13,930 billion at the end of September, accounting for 58.3 per cent of global ETF assets. Since the start of the year, they have collectively attracted $1,110 billion in net inflows, accounting for approximately 49.6 per cent of the sector’s total inflows.

The top 20 ETFs by net inflows attracted $82.52 billion in September. The State Street SPDR S&P 500 ETF Trust (SPY US) alone recorded inflows of $10.70 billion.

The US market

In its report on the United States, published on 16 October, ETFGI reports net inflows of 152.93 billion for US-listed ETFs in September and 1,560 billion since the start of the year. This figure exceeds the annual record of 1,500 billion set in 2025. Assets under management in US ETFs rose to 16,240 billion, up from 13,430 billion at the end of 2025.

Deborah Fuhr, managing partner, founder and owner of ETFGI, commented on the month’s market performance as follows:

‘In September, equity market performance weakened in both developed and emerging markets. The S&P 500 fell by 0.35 per cent, but remains up by 12.75 per cent year-to-date. Developed markets excluding the US fell by 2.72 per cent in September, whilst still posting substantial gains of 14.86 per cent year-to-date. New Zealand and Luxembourg recorded the largest declines amongst developed markets. Emerging markets also retreated, falling by 1.77 per cent over the month, whilst remaining up by 11.26 per cent in 2026. Turkey and the Czech Republic recorded the sharpest declines amongst emerging markets.

Conclusions

With $2,240 billion raised over nine months, global ETF inflows in 2026 are the highest ever recorded for this time of year. Inflows continued even during a month of declines for both developed and emerging equity markets.

To beat the annual record of 2,370 billion set in 2025, net inflows of around 130 billion are needed in the fourth quarter. The monthly average for 2026 so far stands at around 249 billion. It remains to be seen whether demand for bond ETFs will hold up and whether inflows into commodities will recover.