The global active exchange-traded fund market closed July at an unprecedented $2.59 trillion in assets under management, according to data released Monday by ETFGI LLP, a London-based research firm. That figure eclipses the prior peak of $2.56 trillion set in June and marks a 35.6% expansion since the start of the year, when the industry held $1.91 trillion.
Net inflows for the first seven months of 2026 reached $590.46 billion, nearly double the $322.69 billion gathered during the same period in 2025. July alone contributed $89.58 billion in net new assets, extending a streak of positive monthly flows to 76 consecutive months—more than six years without a single month of net redemptions.
Equity and fixed income lead the surge
Equity-focused active ETFs attracted $355.77 billion year-to-date through July, almost double the $183.36 billion recorded in the same stretch of 2025. Fixed income active ETFs pulled in $178.75 billion, up from $123.80 billion a year earlier. The sustained demand reflects advisors' preference for the tax efficiency, intraday liquidity, and active management that the wrapper offers, often at lower costs than traditional mutual funds.
The growth has repeatedly outpaced industry forecasts, drawing assets away from both passive ETFs and conventional mutual funds. As passive core ETFs still dominate overall flows, active strategies have carved out a significant niche, particularly in fixed income and equity income categories.
Dimensional and JPMorgan lead the pack
Among providers, Dimensional Fund Advisors and JPMorgan Asset Management each managed approximately $309 billion in active ETF assets as of July 31, 2026, giving each an 11.9% market share. JPMorgan led all firms in year-to-date net inflows, adding $52.5 billion. iShares, BlackRock's ETF platform, ranked third with $176.7 billion in total assets and $51.8 billion in year-to-date inflows.
The competitive landscape has intensified as asset managers of all sizes race to launch active products. ETFGI data show 1,212 new active ETFs launched globally in the year through July, brought to market by 269 providers, while 173 funds were closed. The global active ETF universe now comprises 5,678 funds with 7,807 listings across 724 providers on 49 exchanges in 39 countries.
This wave of product innovation is reshaping the broader fund industry. Traditional mutual fund managers are increasingly converting their best-selling strategies into ETF wrappers, while new entrants are using the structure to challenge incumbents. The trend has also spurred M&A activity, such as T. Rowe Price's acquisition of F/m Investments, which doubled its fixed income ETF assets.
Advisors are also responding to the shift. As the CFP exam draws record candidates, the demand for expertise in ETF selection and portfolio construction is rising. Meanwhile, HSA balances hit a record, but most holders still keep funds in cash, suggesting potential for further ETF adoption in retirement and health savings accounts.
ETFGI's data underscore the structural shift toward active ETFs, a trend that shows no signs of abating. With 76 straight months of inflows and a record asset base, the industry's momentum appears firmly entrenched, even as some observers question whether the pace can be sustained.
