- The oldest ETF, the SPDR S&P 500 Trust, had the most inflows in February.
- The $14.6 billion in inflows allowed it to surpass the Vanguard S&P 500 ETF.
- Which ETFs saw the most outflows last month?
This ETF brought in $14.6 billion in inflows in February, leading all ETFs.
Just a few weeks ago, the Vanguard S&P 500 ETF (NYSE:VOO) became the largest exchange-traded fund (ETF) in the world after a surge in January and early February inflows pushed it past the long-reigning asset leader, the S&P 500 Trust ETF (NYSE:SPY).
But the SPDR S&P 500 Trust has retaken its title, according to ETF.com data, after a strong February, when it led all ETFs in inflows.
The ETF.com report, authored by ETF.com senior analyst Sumit Roy, stated that SPY brought in $14.6 billion in assets in February, the most of any ETF. It was twice as much as the second-most popular ETF in February, the Vanguard S&P 500 ETF, which hauled in $7.3 billion last month.
For SPY, this follows the month of January when it had some $13.5 billion in outflows, compared to $21.2 billion in inflows for VOO.
Year-to-date, the Vanguard S&P 500 ETF remains the asset leader, with $28.5 billion in inflows, according to ETF.com. The Invesco QQQ Trust (NASDAQ:QQQ) is second YTD with $6.8 billion flowing in, buoyed by $4.6 billion in inflows in February, making it third overall.
However, in terms of total assets under management (AUM), the SPDR S&P 500 ETF overtook the Vanguard S&P 500 ETF, which had surpassed it last month. On the strength of its February haul, SPY had $624 billion in AUM as of the end of February, while VOO had $611 billion, according to ETF.com. The QQQ was third with roughly $318 billion, according to ETF.com data.
The Biggest Losers in February
The SPDR S&P 500 ETF was the first ETF ever launched in the United States when it debuted in 1994. It has been the largest ETF since then, except for last month when the Vanguard S&P 500 ETF briefly surpassed it.
Asset totals shrank for these two leading ETFs over the past two weeks of February as the S&P 500, the index that both of these top ETFs track, had back-to-back negative weeks to end the month. The index dropped out concerns about tariffs, inflation, geopolitics, and a slowing economy.
But overall, inflows were strong into ETFs in February, as investors seek more diversification amid volatile and uncertain markets. The industry brought in $110.8 billion in inflows, topping the $107 billion brought in in January. Through the first two months of 2025, some $217 billion has flowed into ETFs.
It’s also worth noting that the SPDR Gold Trust ETF (NYSE:GLD) had the fourth most inflows in the industry in February, bringing in $3.8 billion. That reflects the spike in the price of gold as investors flock to the relative safety and stability of gold ETFs.
Finally, the ETF that saw the most outflows in February was the small-cap iShares Russell 2000 ETF (NYSE:IWM), which experienced $3.5 billion in outflows last month.
The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) saw the second-most outflows in February with $2.9 billion, while the Fidelity Wise Origin Bitcoin Fund (NYSE:FBTC) was third with $1.4 billion in outflows, according to ETF.com.