International equity ETFs dominated 2025, according to Global X, with $7.3 billion in inflows during the year.
As well as the money into international equity ETFs, a further $3.4 billion went into US equity ETFs.
Some $6.7 billion went into Australian equity ETFs, putting the category in second place, although it took the top spot during December with $639 million in inflows.
Overall equity ETF investment stood at $35 billion, representing around two-thirds of total flows.
Looking at fixed income, overall fixed income ETFs saw flows of $14 billion. The geographic split was largely even with $2.4 billion going into Australian diversified fixed income ETFs and $2.1 billion going into global diversified fixed income.
In total, Global X said ETFs attracted a record $53.3 billion in inflows during the year which was significantly higher than the $31 billion achieved during 2024.
ETF categories seeing highest annual inflows
| Asset class | 12-month inflows |
| Global shares – global | $7.3 billion |
| Australian shares | $6.7 billion |
| Global shares – US | $3.4 billion |
| Australian diversified fixed income | $2.4 billion |
| Global diversified fixed income | $2.1 billion |
Source: Global X, January 2026
While diversified fixed income was popular, US Treasuries fell out of favour last year with $193 million in outflows. This was double the second-largest category of outflows which was Electric Car and Battery Technology ETFs which lost $87 million.
“US Treasury bond ETFs were the standout, recording $59 million in withdrawals in December and finishing the year with $193 million in outflows. The move reflected a broader reallocation away from concentrated US sovereign exposure, as investors weighed elevated fiscal deficits, duration risk, and overall diversification away from US-denominated assets,” Global X said.
“Electric Vehicle (EV) and battery technology ETFs saw $87 million in redemptions during the year, despite signs that lithium prices may have troughed and supply fundamentals could improve in 2025, suggesting positioning adjustments rather than a loss of longer-term conviction in the theme.”
ETF categories seeing highest annual outflows
| Asset class | 12-month outflows |
| Global fixed income- US Treasuries | -$193 million |
| Electric car and battery technology | -$87 million |
| Global shares – South Korea | -$76 million |
| Global sector – healthcare | -$43 million |
| Australian shares – inverse | -$33 million |
Source: Global X, January 2026
South Korean ETFs lost $76 million, global healthcare lost $43 million and Australian shares- inverse lost $33 million.
The outflows for South Korean ETFs could be reversing, however, after BlackRock’s iShares MSCI South Korea ETF was among the best-performing ETFs for 2025. This was attributed to the semiconductor cycle with Samsung Electronics and SK Hynix both being South Korean companies as well as smaller suppliers linked to memory technology and storage demand.
Looking at launches, there were 72 new ETFs launched during the year, up from 65 in 2024, with over half of these being active ETFs. Some 28 were active equity ETFs, 13 were active fixed income and 9 were global equity ETFs.
“Active ETFs led the wave of new product launches in 2025, making up 57% of all launches. Innovation was broad-based, spanning fixed income with Australia’s first fixed-maturity corporate bond ETFs, thematics such as AI infrastructure and Chinese technology, smart beta strategies targeting factors like growth and growth at a reasonable price (GARP), a new currency-hedged gold ETF, and simple low-cost vanilla exposures to markets such as Australia and Japan.”
