ETF inflows top $1.1T; Nasdaq 100 fee fight intensifies

ETF inflows surpassed $1.1 trillion through the first half of 2026, and more than 800 new ETFs launched during the period, according to industry data. The total exceeds the full-year inflows of about $500 billion recorded in 2020.

Todd Rosenbluth, head of research at VettaFi, described the pace of inflows as “bonkers” and cited FactSet figures showing roughly $340 billion flowing into bond ETFs so far this year. The iShares 0–3 Month Treasury Bond ETF (SGOV) and the Vanguard Total Bond Market ETF (BND) ranked among the top inflow leaders.

The Nasdaq 100 ETF group saw several fee changes. BlackRock set the iShares Nasdaq 100 ETF (IQQ) at a 12-basis-point expense ratio, which nets to 10 basis points through July 2027 after rebates. State Street offers a permanent 10-basis-point fee on the SPDR Portfolio Nasdaq 100 ETF (QNDX). Invesco’s NASDAQ 100 ETF (QQQM) exceeded $100 billion in assets; Rosenbluth expects Invesco to cut QQQM’s fee to about 12 basis points within six months.

New product launches drew attention for their strategies and rapid asset gains. The Defiance KSM TipRanks Analyst ETF (RANK) tracks a rules-based index that combines TipRanks analyst ratings with momentum signals. VettaFi is the index provider for RANK and for the VictoryShares Free Cash Flow ETF (VFLO) and receives licensing fees; VettaFi is not the issuer of those ETFs.

VFLO reached roughly $8 billion in assets before its third anniversary. SoFi introduced the SoFi Social 50 Income ETF (SFYI), constructed from the 50 stocks most held by the company’s roughly 15 million members. SFYI seeks monthly income by selling call options on its holdings. Brian Walsh, SoFi’s head of advice and planning, said members tend to use a core-satellite approach; he noted Tesla is the platform’s highest-conviction holding at about five times its S&P 500 weight and that roughly 25% of SFYI is allocated to AI infrastructure names.

T. Rowe Price plans an active crypto ETF, TKNZ, which would offer active exposure to up to a dozen cryptocurrencies. Industry participants have introduced niche active strategies alongside broad passive funds this year.

Observers pointed to strong demand for equity exposure and income-generating products, heavy flows into bond ETFs, and intensified fee competition in benchmark categories such as the Nasdaq 100 as prominent developments in the ETF market during the first half of 2026.