Canada’s ETF industry set new records for inflows, fund launches in 2025

Core Insights - Total ETF assets under management (AUM) reached $713 billion by the end of 2025, reflecting a compound annual growth rate of 23% over the past decade, compared to $90 billion at the end of 2015 [1] - The traded value of ETFs surged to $1.2 trillion in 2025, marking a 47% increase from the previous record set in 2024 [2] ETF Inflows and Performance - Equity ETFs led fund inflows in 2025, gathering $66.5 billion, surpassing the previous record of $44.6 billion from 2024 [3] - International equity funds attracted $33.3 billion of the inflows, while U.S. and Canadian equity funds received $19.7 billion and $13.5 billion, respectively [3] - Fixed-income ETFs saw inflows of $37.3 billion, up from $24.1 billion in 2024 [4] - Inverse/leveraged ETFs achieved $6 billion in creations, a significant increase from $1.7 billion the previous year [5] - Commodity ETFs recorded inflows of $2.3 billion, up from $995 million in 2024 [5] - Multi-asset ETFs had $12.5 billion in creations, increasing from $6 billion a year prior [5] - Crypto-asset ETFs saw a turnaround with $933 million in creations, compared to $1.1 billion in outflows the previous year [5] ETF Market Dynamics - Active ETFs continued to drive new inflows due to ongoing innovation in product strategies [6] - A record 364 new ETFs were launched in 2025, bringing the total number of ETFs in Canada to 1,792, compared to 414 in 2015 [6] - Four new providers entered the ETF market in 2025, increasing the total number of ETF providers to 48, up from nine a decade ago [7] Leading ETF Providers - RBC iShares maintained its position as the top ETF provider by market share at 27% in 2025, followed by BMO Global Asset Management at 21% and Vanguard Investments Canada Inc. at 15% [8] - Global X Investments Canada Inc. ranked fourth with 6% market share, while TD Asset Management moved up to fifth place with 4% [9] December 2025 Highlights - Canadian ETFs achieved net inflows of $16.9 billion in December 2025, setting a new monthly inflow record [10] - Equity ETFs led the inflows with $9.9 billion, while fixed-income ETFs recorded $4.5 billion in inflows [10]