European ETF Inflows Jump 12% In Q3, Amundi Data Shows

European-domiciled UCITS ETFs attracted €127.4 billion in net new assets in the third quarter of 2026, putting the market on course for a record year, according to Amundi data. Total assets under management reached €3.2 trillion at the end of September.

Quarterly inflows rose 12% from €113.6 billion in the second quarter and exceeded the €89.1 billion recorded in the third quarter of 2025. Investors favored broad developed-market exposure while adding allocations to Europe, Japan and emerging markets.

Equity ETFs attracted €99.3 billion. All-country world strategies received €29 billion, while developed-market world funds drew €25.5 billion. U.S. equity ETFs also attracted €25.5 billion, with no single regional market dominating flows.

European equity ETFs returned to positive flows, attracting €9.9 billion after outflows in the second quarter. Emerging-market equity funds received nearly €6.8 billion, up from €5.6 billion in the previous quarter. Japan-focused ETFs gathered €2.3 billion, compared with €2.7 billion in the second quarter.

Sector funds also drew inflows. Information technology led with €4.4 billion, supported by demand for companies linked to artificial intelligence and strong earnings. Healthcare funds received €1.7 billion, materials funds drew €1.4 billion and industrial funds attracted €1.1 billion.

Fixed-income ETFs gathered €26.4 billion as investors adjusted portfolios during volatility in global bond markets and changing expectations for interest rates. Government bond funds received €11.9 billion. European investors favored funds covering all maturities, which attracted €2.4 billion, while U.S. investors preferred short-term and ultra-short-term funds, which drew €1.4 billion and €1.7 billion respectively.

Credit flows were more selective. Euro high-yield inflows fell to €564 million from €3.2 billion in the second quarter. Euro corporate bond inflows declined to €3.7 billion from €4.4 billion. Cash-alternative ETFs attracted €4.1 billion, up from about €3 billion, while inflation-linked bond funds received €1.4 billion, compared with €1 billion previously.

Gold exchange-traded products and commodities drew about €6 billion in August and €3.5 billion in September. Year-to-date inflows reached approximately €10.4 billion, exceeding the previous full-year record of €7.6 billion set in 2022. Amundi linked the demand to concerns about interest-rate policy, government debt and deficits, rising Treasury yields and higher market volatility.

ESG equity ETFs attracted €16.5 billion, a 19% increase from the second quarter. Demand for ESG and non-ESG equity products remained broadly balanced. ESG fixed-income funds received €5.5 billion, down from €7.4 billion, reducing their share of total fixed-income flows to about one quarter from roughly 30%.