Global exchange-traded fund assets have reached a new all-time high, surpassing $23.11 trillion as of the end of July. According to data from ETFGI, an independent research firm, this milestone edges past the previous record of $23.09 trillion set at the end of June 2026.

Net inflows for July alone totaled $383.6 billion, bringing the year-to-date figure to a historic $1.71 trillion. The industry has now recorded 86 consecutive months of positive net inflows, underscoring sustained investor demand. At the end of July, the global ETF universe comprised 17,654 funds offered by 1,025 providers.

Issuer landscape remains highly concentrated

The top three ETF issuers continue to dominate the market, collectively holding 58.9% of global ETF assets. Their combined net new assets of $866.03 billion year-to-date represent 50.6% of total industry inflows, highlighting a pronounced winner-takes-all dynamic among the largest players.

iShares remains the world's largest ETF issuer, with assets under management of $6.35 trillion and a 27.5% market share. The firm added $370.26 billion in net new assets through July, accounting for 21.7% of industry-wide inflows.

Vanguard ranks second with $5 trillion in assets and a 21.6% market share. It leads the industry in year-to-date net new assets at $372.93 billion, representing 21.8% of total inflows.

State Street SPDR ETFs holds the third position with $2.27 trillion in assets and a 9.8% market share, having attracted $122.84 billion in net new assets year-to-date, or 7.2% of total industry inflows.

Five China-listed ETFs among July's top 20

Five China-listed ETFs appeared among the top 20 funds by global net inflows in July, collectively attracting approximately $24 billion and accounting for nearly one-fifth of the top 20's total. This demonstrates accelerating global appetite for Chinese assets, particularly in technology-focused themes.

Leading the group, the ChinaAMC STAR 50 ETF recorded $5.9 billion in inflows, followed by the Huatai-PineBridge CSI 300 ETF with $5.1 billion, the E Fund ChiNext ETF with $4.8 billion, the ChinaAMC STAR Semiconductor ETF with $4.3 billion, and the China Southern CSI 1000 ETF with $3.8 billion. These funds span core indices including the STAR Market, ChiNext, large-cap, and small-to-mid-cap segments.

On the international front, US-listed ETFs dominated the rankings. The Vanguard S&P 500 ETF (VOO) led all funds with $19.66 billion in July inflows, followed by the State Street SPDR S&P 500 ETF (SPY) with $13.55 billion. Semiconductor momentum remained strong, with the iShares Semiconductor ETF (SOXX) and the Direxion Daily Semiconductor Bull 3X Shares (SOXL) together attracting $15.5 billion, reflecting intense global interest in the AI computing supply chain.

Equity ETFs lead monthly inflows; active funds surge

July's record $383.6 billion in net inflows was led by equity ETFs, which captured $230.87 billion for the month and $772.88 billion year-to-date, significantly outpacing the $477.77 billion recorded in the first seven months of 2025. Fixed-income ETFs attracted $42.03 billion in July and $314.7 billion year-to-date, while commodity ETFs saw $3.61 billion in monthly inflows and $15.14 billion year-to-date.

Active management ETFs are experiencing explosive growth, with $89.58 billion in July inflows and $590.46 billion year-to-date, nearly double the $322.69 billion seen during the same period in 2025. The category's 83% year-over-year growth rate makes it the fastest-expanding segment, while commodity ETFs have shown notable cooling.

The sustained surge in active ETFs represents one of the most significant structural shifts in the industry this year. Year-to-date inflows into active funds are approaching twice those of fixed-income ETFs and now account for over 34% of total industry flows. This suggests investors are moving beyond passive index tracking toward actively managed products that combine transparency, liquidity, and flexible strategies, a trend that is reshaping the competitive landscape of the global ETF industry.