Canadian ETFs See Record CAD125B Inflows, 2026 Momentum

Canadian exchange-traded funds drew CAD125 billion in net inflows in 2025 and have recorded similar flows so far in 2026, according to market and exchange figures. The Toronto Stock Exchange reported a busy month of ETF listings in May and completed acquisitions of CBOE Canada and CBOE Australia.

Daniel Straus, managing director for ETFs and financial products research at National Bank of Canada Capital Markets, reported that ETFs set inflow records in 2025 with CAD125 billion and that the same tempo has continued into 2026.

Graham Mackenzie, managing director for exchange traded products at the Toronto Stock Exchange, noted: “It’s clearly evident when you look at the fund flow data over the course of the last few years. Another indication is that we are seeing a growing number of Canadian fund managers launch ‘ETF series’ products which is the Canadian version of ‘ETF class’ products. To give you some perspective, in 2025, more than 75 per cent of the net inflows into Canadian fund products (including ETFs and mutual funds) went into ETFs.”

Canada launched its first ETF in 1990. Since then Canadian exchanges have listed early crypto-asset ETFs, the first psychedelic-sector ETFs and the world’s first covered-call ETFs.

National Bank of Canada Capital Markets received awards for capital markets work and ETF research. CIBC Mellon was recognised for ETF custody and back- and middle-office technology services.

The Toronto Stock Exchange reported that more than 75 per cent of net inflows into Canadian fund products in 2025 went to ETFs. Fund managers have increased ETF-focused product offerings, including ETF series that provide share-class alternatives to traditional mutual funds.