As markets rebounded from April lows caused by the war in Iran, exchange-traded funds recorded their second-highest monthly inflows on record, according to data from State Street.
U.S.-listed ETFs took in $178 billion in April as global stocks rose by 10% and U.S. equities rose by nearly 11% during the seventh-best month for equities since 1986.
FactSet reported similar flows, with U.S.-listed ETFs taking in $171.4 billion in April, bringing the total inflows in 2026 to $643.9 billion.
Overall, 93 U.S.-listed ETFs launched in April, according to FactSet. In the year’s first quarter, 220 active ETFs launched, according to data from ISS Market Intelligence, continuing the pace that brought 1,000 new active ETFs to market in 2025. ISS Market Intelligence, like CIO, is owned by ISS STOXX.
Equity ETFs fueled inflows at $139 billion, with tech inflows reaching $12 billion, according to State Street’s data. Breaking the data down further, sector-focused flows reached $13 billion, single-country ETFs saw $5 billion in inflows, and ETFs focused on space exploration and technology saw their highest-ever inflows at $505 million in April.
Fixed-income ETFs saw $32 billion in inflows during April, driven by $15 billion in inflows to credit-sensitive sectors. Inflation-linked bond ETFs recorded $2 billion in inflows, as inflation risk remained top of mind for investors, while convertible bond ETFs took in $12 billion, the second-highest monthly result for convertible funds, State Street data show.
FactSet reported $845 million of outflows for commodity ETFs in April, the largest share from crude oil and precious metals funds.
While equity markets rallied in April, beneath the surface, concentration of performance within the S&P 500 has rarely been higher. According to State Street, only 23% of the index’s constituents outperformed the index, which the firm noted is one of the weakest participation rates in decades.
The same was true for global stocks: Approximately 26% of global stocks outperformed the MSCI All Country World index during the month.
“April gains are welcome, but volatility cuts both ways,” State Street’s report stated. “Taken together, with recent returns and a dense mix of macro headlines, this market feels less like a steady climb and more like a series of sharp advances and sudden pullbacks—where momentum can shift quickly and visibility remains limited.”
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Tags: ETFs, State Street