Asset-class overview
Total net creations for the session reached $6.14 billion, equivalent to roughly 0.04 percent of the U.S. ETF market’s $13.85 trillion in combined assets.
International equity funds led the inflow table by asset class, pulling in $5.10 billion, equal to 0.21 percent of their $2.38 trillion asset pool. U.S. fixed-income products gained $1.53 billion. International fixed income added $634 million, while commodity ETFs brought in $365.9 million. Leveraged and inverse strategies collectively attracted $313.5 million.
Conversely, currency ETFs experienced net redemptions of $950.8 million, representing the day’s steepest percentage pullback at 0.65 percent of assets. U.S. equities posted outflows of $797.6 million. Alternatives slipped by $155.2 million, and outflows among U.S. fixed-income products were overshadowed by inflows elsewhere in the segment.
Positioning of VWO
Thursday’s creation lifted VWO’s assets under management to $111.1 billion, a 0.46 percent increase from the prior session. The fund tracks the FTSE Emerging Markets All Cap China A Inclusion Index, providing exposure to large-, mid- and small-capitalization companies across more than 20 developing countries. With the latest inflow, VWO cements its standing as one of the three largest emerging-market equity ETFs available to U.S. investors, alongside IEMG and the iShares MSCI Emerging Markets ETF (EEM).
Emerging-market equity ETFs have faced uneven investor demand in recent months amid questions about global growth, currency volatility and geopolitical risk. The sizeable creation into VWO, as well as the inflow into IEMG, indicates renewed interest in the segment despite those headwinds. For additional context on how the Securities and Exchange Commission regulates ETF structures, readers can refer to guidance available on the SEC’s official website.
Semiconductor focus and other notable moves
Among sector-specific funds, SMH’s $562.9 million intake represented a 1.29 percent increase in assets, underscoring persistent demand for semiconductor exposure. The inflow arrived as chip-maker earnings season approached, adding to a trend that has lifted semiconductor ETFs since early 2025.
On the fixed-income side, the Vanguard Short-Term Corporate Bond ETF (VCSH) collected $399 million, bringing its assets to $41.1 billion, while the iShares 1-3 Year Treasury Bond ETF (SHY) added $339.5 million. Both moves signal continued interest in short-duration bonds as investors weigh the path of Federal Reserve policy.
Leveraged and inverse flows
The leveraged SPYM creation of $661.1 million expanded that fund’s assets by 0.64 percent, while leveraged QQQ vehicle ProShares UltraPro QQQ (TQQQ) saw $295.3 million exit, cutting its asset base by 1.01 percent. Inverse ETFs collectively received $100.8 million, maintaining demand for hedging tools even as major equity benchmarks continued to hover near record highs.
Bitcoin and precious metals
Spot bitcoin ETFs experienced mixed activity. IBIT and FBTC ranked among the top redemptions, while other digital-asset products remained relatively stable. The iShares Ethereum Trust ETF (ETHA) lost $250.3 million, a 2.39 percent decline in assets. Precious-metals exposure also saw withdrawals; the iShares Silver Trust (SLV) recorded $189.1 million in outflows, or 0.39 percent of assets.
Data methodology
The flow statistics reflect primary-market creations and redemptions processed through 6 a.m. Eastern Time on Friday, Jan. 23, 2026. Figures may be adjusted as exchanges reconcile late-day activity. Net flows measure new shares issued or removed from circulation rather than secondary-market trading volume.
Crédito da imagem: etf.com
