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$1.86 trillion at the end of November. During November actively managed ETFs listed globally gathered net inflows of US$57.74 billion, bringing year-to-date net inflows to a record US$581.25 billion, according to ETFGI's November 2025 Active ETF landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

Highlights

• Global assets invested in actively managed ETFs reached a record $1.86 trillion at the end of November, surpassing the previous record of $1.82 trillion set in October 2025.
• Assets have grown 59.4% year-to-date, rising from $1.17 trillion at the end of 2024 to $1.86 trillion.
• Actively managed ETFs recorded $57.74 billion in net inflows during November.
• Year-to-date net inflows of $581.25 billion are the highest on record, followed by $331.83 billion in 2024 and $167.28 billion in 2023.
• November marked the 68th consecutive month of net inflows for actively managed ETFs.
• Dimensional is the largest active ETF provider globally with $250.07 billion in assets, representing 13.4% market share. JP Morgan Asset Management ranks second with $244.32 billion and 13.1%, followed by iShares with $111.39 billion and 6.0%. Together, the top three providers account for 32.5% of global active ETF assets, while the remaining 643 providers each hold less than 6% market share.

“The S&P 500 rose 0.25% in November and is up 17.81% year-to-date. Developed markets excluding the U.S. gained 0.73% in November and are up 30.79% in 2025, with Luxembourg (+9.82%) and Ireland (+8.05%) posting the largest monthly increases. Emerging markets declined 1.69% in November but remain up 22.40% year-to-date, while Saudi Arabia (-8.57%) and the United Arab Emirates (-6.05%) recorded the largest monthly decreases,” according to Deborah Fuhr, Managing Partner, Founder, and Owner of ETFGI.

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

There were 4,495 actively managed ETFs listed globally with 5,953 listings, assets of $1.86 Tn, from 646 providers listed on 46 exchanges in 36 countries at the end of November.

  Equity-focused actively managed ETFs listed globally gathered $29.96 billion in net inflows during November, bringing year-to-date inflows to $328.03 billion, which is higher than the $181.53 billion recorded at this point in 2024.

 Fixed income-focused actively managed ETFs reported $22.70 billion in net inflows during November, pushing year-to-date inflows to $219.37 billion, compared to $130.25 billion at the same point in 2024.

Substantial inflows can be attributed to the top 20 active ETFs/ETPs by net new assets, which collectively gathered
$16.81 Bn during November. Hwabao WP Cash Tianyi Listed Money Market Fund (511990 CH) gathered $1.67 Bn, the largest individual net inflow.

Top 20 actively managed ETFs/ETPs by net new assets November 2025

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