US-listed ETFs attracted more than $1 trillion in inflows during the first half of 2026, marking the earliest the industry has ever crossed the milestone and signaling an unprecedented acceleration in investor demand for exchange-traded funds. The achievement represents an 86% jump from the first half of 2025 and nearly double the previous record for any six-month period, according to data from iShares and State Street Global Advisors.
Equity ETFs led the surge, pulling in $680 billion—more than double the year-ago figure—as investors rotated back toward U.S. stocks following a sharp selloff in March tied to geopolitical tensions. Fixed income ETFs gathered $292 billion, up 65% from 2025, as investors sought income and stability alongside equity exposure.
The record pace reflects a structural shift in how investors access markets. Active ETFs, which employ portfolio managers to pick securities rather than tracking an index, captured $245 billion in the first quarter alone—a 70% increase over the prior year’s best quarter, according to ETF Database. By May, active ETFs had accumulated $311 billion year-to-date, extending what has become a 73-month streak of consecutive net inflows into actively managed ETF strategies.
Within equity flows, investors showed renewed appetite for U.S. stocks after early-year caution. The share of equity ETF inflows going to U.S.-focused funds climbed from 68% in January to the mid-80% range by June, as strong corporate earnings and confidence in the U.S. economy’s resilience pulled capital back from international markets. Sector-specific ETFs captured 11% of equity flows—the highest share since 2021—with technology, energy, and industrials leading the way. Technology sector ETFs alone attracted $44 billion in the first half.
Fixed income proved resilient despite rising interest rates. Bond ETFs accumulated $300 billion in H1 2026, with intermediate-duration bonds remaining the preferred destination. Emerging market ETFs pulled in $38 billion, already exceeding the $35 billion record for all of 2025, signaling sustained international diversification demand.
The 2026 pace significantly exceeds 2025’s record performance. Last year, US-listed ETFs attracted $1.515 trillion for the full year—itself a 31% increase from 2024’s $1.152 trillion. If the H1 2026 momentum continues, the industry is on track for approximately $2 trillion in annual inflows, according to multiple sources tracking the flows.
Investor sentiment shifted through three distinct phases in H1 2026. Early optimism in January and February, when bullish sentiment reached 48-53%, gave way to defensiveness in late March as geopolitical conflict and inflation concerns emerged. By June, however, bullish sentiment had recovered to 44-48%, though investors became more selective. BlackRock’s polling data showed clients planning to add alternatives, private markets, and emerging market equities while funding those moves from cash and core bond positions—indicating a more diversified approach to risk rather than broad-based equity buying alone.
Sources
- iShares (BlackRock) — H1 2026 ETF & ETP Market Trends report; $1 trillion inflows, equity and fixed income flows, investor sentiment data
- State Street Global Advisors — ETF inflows set records in first half; $1 trillion milestone, emerging market and sector flows
- ETF Database — 2026 ETF Flows Cross $1 Trillion Milestone; active ETF inflows Q1 2026, 70% increase data
- ETF Express — US-listed ETF inflows for first half of 2026; bond, technology, and sector ETF inflows
- Barron’s — ETF Inflows Smash Records; Q2 2026 inflows, record $560 billion second quarter
- TD Securities — U.S. 2025 ETF Recap; 2025 full-year inflows of $1.48 trillion for comparison
- Fidelity — All-time record for ETF flows; 2025 annual inflows and H1 2026 comparison
