ETFGI, a leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, events, and ETF TV on global ETF industry trends, reported today that assets invested in the actively managed ETFs listed globally reached a new record of US$1.73 trillion at the end of September. During September actively managed ETFs listed globally gathered net inflows of US$70.59 billion, bringing year-to-date net inflows to a record US$447.72 billion, according to ETFGI's September 2025 Active ETFs industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

Global Actively Managed ETF Industry – September 2025 Highlights

• Assets under management in actively managed ETFs globally reached a record $1.73 trillion at the end of September, surpassing the previous high of $1.63 trillion set in August 2025.
• Year-to-date asset growth stands at 47.8%, rising from $1.17 trillion at the end of 2024 to $1.73 trillion.
• Net inflows in September totaled $70.59 billion.
• YTD net inflows of $447.72 billion mark the highest on record, ahead of $239.15 billion in 2024 and $113.61 billion in 2023.
• September marked the 66th consecutive month of net inflows into actively managed ETFs.
• Actively managed equity ETFs and ETPs attracted $43.73 billion in net inflows during September.

“The S&P 500 rose 3.65% in September, bringing its year-to-date gain to 14.83.  Developed markets excluding the US increased by 2.50% during the month and are up 27.67% in 2025. The Netherlands and Korea led the gains among developed markets in September, rising 13.27% and 9.04%, respectively. Emerging markets advanced 5.49% in September and have gained 22.41% year-to-date, with Peru (up 12.80%) and South Africa (up 9.47%) posting the strongest monthly performance among emerging markets,” said Deborah Fuhr, managing partner, founder, and owner of ETFGI

Growth in assets in the actively managed ETFs listed globally as of end of September

There were 4,191 actively managed ETFs listed globally, with 5,502 listings, assets of $1.73 Tn, from 618 providers listed on 45 exchanges in 35 countries at the end of September.

Dimensional Fund Advisors is the largest active ETF provider globally, managing approximately US$238.28 billion in assets and holding a 13.8% market share. JP Morgan Asset Management ranks second with US$231.46 billion (13.4%), followed by iShares at US$99.22 billion (5.7%). Collectively, these top three providers—out of 618—account for 32.9% of global active ETF assets, while each of the remaining 615 providers holds less than 6% market share individually.

Actively Managed ETF Net Flows – September

Equity-focused actively managed ETFs and ETPs listed globally attracted $43.73 billion in net inflows during September, bringing year-to-date net inflows to $256.53 billion. This is significantly higher than the $139.06 billion gathered by equity products over the same period in 2024.

Fixed income-focused actively managed ETFs and ETPs reported $24.03 billion in net inflows for September, pushing year-to-date inflows to $168.67 billion—nearly double the $85.98 billion recorded through September 2024.

Substantial inflows can be attributed to the top 20 active ETFs by net new assets, which collectively gathered
$24.70 Bn during September. iShares U.S. Equity Factor Rotation Active ETF (DYNF US) gathered $3.74 Bn, the largest individual net inflow.

Top 20 actively managed ETFs by net new assets September 2025

Investors have tended to invest in Equity actively managed ETFs/ETPs during September.