- Europe-domiciled ETFs attracted a record $45.6 billion of assets in October amid more balanced flows across equity and bond ETFs
- Equity ETFs collected $28.6 billion in new assets, while fixed income exposures saw $17.6 billion of net inflows.
David Hsu, Head of index equity and ETF product specialism, Vanguard, Europe

While equity ETFs were again the main flows driver in October, bond ETFs racked up $17.6 billion of net inflows – nearly triple the September figure and well ahead of the previous 2025 monthly peak ($9.5 billion in June). The net result: A record $45.6 billion of total monthly flows into Europe-domiciled ETFs and a YTD haul now exceeding $300 billion. These flow trends played out against a generally favourable market backdrop. We saw easing trade tensions between the US and China, robust US corporate earnings and a further rate cut from the US Federal Reserve.

In the bond ETF space, investors showed a clear regional preference for euro area exposures, which captured $10.4 billion of net inflows, by far their highest monthly tally of the year. Corporate and government bond ETFs also had their highest monthly flows of 2025, gathering $7.1 billion and $4.8 billion, respectively. Ultra-short maturity bond ETFs continued their YTD streak of positive monthly flows, adding $3.0 billion in October.

Equity ETFs collected $28.6 billion of net inflows last month – nearly $10 billion less than their September figure but still higher than all other months this year. Core equity ETFs continued to dominate, adding $15.6 billion, or close to the 2025 monthly average of $15.8 billion. On a regional basis, US equity ETFs again topped the table, with global and developed market equity ETFs following closely behind.

Total ETF inflows in 2025 are firmly in record-setting territory. Year to date, Europe-domiciled ETFs have had $313.4 billion of net inflows. At the same point last year, that figure was $213.4 billion. Equity ETFs account for $236.9 billion of this year’s total flows, while fixed income ETFs have added $73.0 billion.

In October, multi-asset and alternative ETFs enjoyed net inflows while commodity ETFs endured net outflows.

Total ETF market flows: Europe-domiciled ETF flows scale new heights

European ETF cumulative flows – cumulative 12 months by asset class ($ billion)