ETFs see highest quarterly flows on record
Strong flows into equity ETFs in June propelled the Q2 total to $133 billion – eclipsing the previous record, set in Q1, by nearly $8 billion.
- Europe-domiciled ETFs attracted $46.1 billion of assets in June, with both equity and bond ETFs seeing healthy inflows.
- Equity ETFs collected $36.0 billion in new assets, while fixed income exposures saw $9.9 billion of net inflows.
- The Vanguard UCITS ETF range captured net inflows of $6.2 billion in June, with the majority recording positive flows.
Monthly recap: Strong June caps consistent quarter
Flows into Europe-domiciled ETFs proved remarkably consistent across Q2, with totals of $42.2 billion in April, $44.3 billion in May and $46.1 billion in June. The net total, $132.5 billion, sets a new quarterly high point, outpacing the $125.0 billion we saw in Q1 this year. Flows in Q2 were supported by a risk-on environment, as easing geopolitical tensions and lower oil prices improved sentiment, while renewed optimism around AI-driven growth boosted earnings expectations and lifted developed market equities.
Equity ETFs captured $36.0 billion of net inflows in June. Core equity ETFs accounted for $26.4 billion of net inflows – a new monthly record – with investors favouring US, global and developed market exposures. Smart beta and sustainable equity ETFs also enjoyed a relatively strong month.
Fixed income ETFs saw $9.9 billion of net inflows in June – easing off the $15.6 billion of flows in May but in line with the monthly average for 2026. Government bond ETFs had $3.1 billion of net inflows for the month, while high-yield and corporate exposures also welcomed healthy flows. On a regional basis, investors focused on euro area, US and global bond ETFs.
Commodity and alternative ETFs enjoyed net inflows in June, while multi-asset ETFs suffered modest net outflows.
Europe-domiciled ETFs have set a torrid, record-setting pace through the first half of 2026. Year to date, Europe-domiciled ETFs have seen $257.5 billion of net inflows. At the same point last year, that figure was $163.0 billion.
Total ETF market flows
ETF inflows continue upward trend
European ETF cumulative flows – cumulative 12 months by asset class ($ billion)
Source: ETFbook, as at 30 June 2026.
Equity ETFs
Core equity ETFs post highest monthly haul on record
Equity flows by category: Month to date ($ million)
Source: ETFbook, as at 30 June 2026. The ‘segment’ category includes equity exposures which target specific market capitalisation segments, such as small-cap, mid-cap and large-cap. The ‘market access’ category includes difficult-to-access markets such as emerging markets. The ‘basket’ category includes strategies that combine several stocks as the underlying exposure.
Core equity ETFs posted $26.4 billion of net inflows in June, just outpacing the previous monthly record of $26.0 billion (April 2026). Through the first six months of the year, core equity ETFs have collected $121.0 billion. Smart beta and sustainable ETFs added net inflows of $3.8 billion and $2.4 billion, respectively. We saw only minor net outflows across the categories we track.
US equity ETFs back atop the table
Equity flows by geographic exposure: Month to date ($ million)
Source: ETFbook, as at 30 June 2026.
For the first time this year, US equity ETFs posted the highest monthly net inflows across regional equity exposures – the total haul of $14.5 billion is also a new record. Flows into global and developed market equity ETFs remained strong, however, at $12.7 billion and $8.2 billion, respectively. Euro area ETFs, on the other hand, weathered net outflows of -$1.8 billion, while various single-country and Europe ETFs saw light outflows.
Fixed income ETFs
Government bond ETFs outpace other categories
Fixed income flows by category: Month to date ($ million)
Source: ETFbook, as at 30 June 2026.
Government bond ETFs again topped the flows table, gathering $3.1 billion in June. The category has seen net inflows in all but one of the months this year, for a total of $23.1 billion. High-yield and corporate bond ETFs also welcomed net inflows, adding $1.7 billion each in June. No bond ETF exposures saw net outflows across the categories we track.
Preference for euro area bond ETFs persists
Fixed income flows by geographic exposure: Month to date ($ million)
Source: ETFbook, as at 30 June 2026.
Euro area bond ETFs attracted $4.3 billion of net inflows in June while US and global bond ETF exposures added $3.6 billion and $1.7 billion, respectively. Euro area bond exposures have seen net inflows every month of 2026, for a YTD total of $26.2 billion. On the negative side of the ledger, Germany bond ETFs endured net outflows of -$319 million.
Vanguard UCITS ETFs
Vanguard range sees net inflows of $6.2 billion in June
Vanguard UCITS ETF net flows: Month to date ($ million)
Source: ETFbook, as at 30 June 2026.
The Vanguard UCITS ETF range captured net inflows of $6.2 billion in June, with the majority recording positive flows. Inflows came mainly from Vanguard’s equity ETF range ($4.4 billion) and the fixed income ETF range ($1.6 billion). The multi-asset ETF range ($122 million) and cash ETF range ($52 million) also saw net inflows.
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