Global ETF Flows 2025 - Data as of Dec. 31, 2024 - Key Insights

Oct 12, 2026

Uploaded by Ophelia

Global ETF Flows 2025 analyzes exchange-traded fund activity through the calendar year, using data as of Dec. 31, 2024. It highlights a risk-on investor posture reinforced by the US presidential election in November, delivering a global annual record of USD 1.5 trillion in ETF inflows. Assets reached USD 13.8 trillion, with equity and fixed income capturing 95% of flows. Active management surpassed USD 1 trillion in assets for the first time, growing far faster than passive.

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Pages21

Reading Time7 min

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Key Takeaways

Notable Trends

Data Disclosures

Global ETF Flows 2025 Data as of Dec. 31, 2024 Syl Flood Senior Product Manager, Morningstar Direct Platform [Sylvester.Flood@morningstar.com](Sylvester.Flood@morningstar.com) +1 312 493-3467 ©2025 Morningstar. All Rights Reserved. Table of Contents | 3 | Key Takeaways | | --- | --- | | 5-17 | Notable Trends | 18 Data Disclosures | | | | --- | --- | | | | | | | | | | | | | | | | Key Takeaways / Investors’ “risk on” posture was evident throughout the year in exchange-traded fund flows and was further amplified by the US presidential election in November. / Global ETF flows captured an annual record USD 1.5 trillion for the calendar year. Funds grew organically 13. 6%, the highest rate since 2021. Funds residing outside the US also had record flows of USD 377 billion, easily exceeding the previous mark of USD 292 billion set in 2021. / Assets reached a record USD 13.8 trillion, USD 2.7 trillion higher than at the end of 2023. / Equity and fixed-income funds captured 95% of flows, or USD 1.4 trillion. Neither of these bellwether asset classes had a single month of outflows in 2024. Both broad asset classes had record annual flows. Fixed income’s 18% growth rate was 50% higher than equity’s 12%, albeit beginning from an asset base only a quarter of equity’s size. / Flows into US-domiciled ETFs spiked following November’s elections. Flows in the last two months of the year totaled USD 310 billion. / The United States dominated global ETF assets and flows on an absolute basis; it captured 75% of flows in 2024 and holds 75% of assets. But the US is not leaving everyone else behind. While US ETFs grew 14% organically, ex-US ETFs grew 13% . Ex-US ETFs had a record year, too, soaking up USD 377 billion. / Actively managed ETF assets surpassed USD 1 trillion for the first time and grew almost 5 times faster than passive ETFs. The category grew at a very robust 50% organic growth rate. Assets rose to USD 1,075 billion from USD 669 billion at the end of 2023, while flows increased to USD 339 billion from USD 161 billion. Active ETFs’ share of all ETF assets increased to 7. 8% from 6. 2% . Passive ETFs grew at a still-robust 11% clip. 3 Key Takeaways, Continued 19. 5% of global flows, as their combined assets reached USD 2.1 trillion. The US version, ticker VOO, ingested an astounding USD 117 billion by itself, a record for any fund. / Invesco grew 21%, the highest rate among the largest ten asset managers. / Standard and Poor’s dominated flows among benchmark index providers, capturing USD 475 billion in flows to products that track its indexes. It now commands a 28% market share, versus 23% five years ago. g Fourth-Quarter Highlights / Flows reached a quarterly record USD 549 billion. The organic growth rate of 4 . 1% was the fifth-highest in the past 10 years. / Equity funds had record quarterly flows of USD 419 billion, leaving the previous record of USD 276 billion in the first quarter of 2021 in the dust. Its quarterly growth rate of 4% was the highest of the year. 4 Notable Trends stood at USD 2.9 trillion. See important data disclosures at the end of this deck. 6 larger the asset base, the harder it is to maintain a high rate, yet ETFs delivered their highest growth rate since 2021. Organic Growth Rate is flows over the period divided by beginning assets. It expresses non-performance-based asset growth and normalizes comparisons over time. 7 equity and fixed income strategies still overwhelmingly prevail in flows terms. These two core categories captured USD 1.4 trillion, or 95%, of flows in 2024. Alternatives (in maroon), the home of US spot bitcoin funds, have made a dent in the universe, but in terms of dollars at work, it’s just that: a dent. Alts, which includes digital assets funds, captured 3% of flows and hold just 1% of assets. 8 November, resulting in USD 310 billion of inflows. Flows into funds domiciled elsewhere were steadier through

FAQs

What drove global ETF flows during 2024, according to the report?

The report links a sustained “risk on” posture to exchange-traded fund flows throughout the year, with additional amplification after the US presidential election in November.

How much did global ETF flows total for the calendar year?

Global ETF flows reached an annual record of USD 1.5 trillion for the calendar year, with assets rising to USD 13.8 trillion.

How did active ETFs perform versus passive ETFs?

Actively managed ETF assets surpassed USD 1 trillion for the first time and grew almost 5 times faster than passive ETFs, with active showing strong organic growth and rising asset share.

Oct 12, 2026

Uploaded by Ophelia