iShares data show $269.1bn September ETP inflows as Treasury flows jump

Global exchange-traded products added USD269.1 billion in September, the fourth-highest monthly inflow this year, according to iShares by BlackRock data reported by ETF Express.

Equity flows held broadly steady at USD130.0 billion, fixed income rose to USD96.4 billion, and commodity buying fell to USD10.4 billion from USD20.8 billion in August. The commodity total was still the third-highest month of the year behind August and January, with the slowdown driven by precious metals.

Investment-grade credit flows fell to USD1.9 billion from USD7.9 billion in August, driven by outflows from US-listed ETPs, and high-yield flows turned negative at minus USD0.4 billion for the first time since March.

US Treasury flows rose to USD26.6 billion, the highest monthly inflow since March, with USD17.64 billion going to short-term exposures for a second consecutive month. Intermediate-term exposures took USD1.5 billion, long-term added USD4.8 billion, and other sovereign rates exposures took USD3.8 billion.

Emerging-market debt flows rose to USD16.2 billion, driven by APAC-listed ETPs. EMEA-listed funds put USD3.2 billion into rates exposures, predominantly European, against USD1.1 billion into Treasuries, reversing August's tilt toward US government debt.

US equity flows were the weak spot, falling from USD89.1 billion in August to USD50.2 billion, the lowest monthly inflow since January 2026 and below the USD87.2 billion monthly average for January through August. Buying fell across listing regions, cushioned by USD52.4 billion into global equity exposures.

Elsewhere in equities, emerging markets returned to positive territory with USD6.2 billion split roughly evenly between broad and single-country exposures, as China buying offset a rotation out of South Korea. India took its first positive month since February at USD0.4 billion, Japanese flows rebounded to USD5.1 billion, and European buying moderated to USD3.4 billion. Global sector flows stayed low for a second consecutive month.