海外资管机构月报：9月美国新发行超70只ETF，今年以来ETF资金流入规模已超过1万亿元-20251023

========= - In September 2025, the median performance of US equity funds was 1.81%, international equity funds was 2.44%, bond funds was 0.93%, and asset allocation funds was 2.25% [1][14][16] - Among US equity funds, large-cap growth funds had the best median return of 4.09%, while small-cap funds had the lowest median return of 0.57% [15] - International equity funds investing in the Greater China region had the best median return of 7.38% in September 2025 [15] - Bond funds investing in US municipal bonds had a median return of 2.34% in September 2025, and global bond funds had a median return of 6.38% year-to-date [17] - Asset allocation funds categorized by stock-bond allocation showed that target-date funds had the highest median return of 2.61% in September 2025, while conservative allocation funds had the lowest median return of 1.58% [17] - The total size of US mutual funds reached $20.2 trillion by the end of 2024, while ETFs reached $10.3 trillion [12] - In September 2025, active management funds had a net inflow of $7.9 billion, while passive funds had a net inflow of $78.5 billion [2][27] - The top 10 asset management firms in the US mutual fund market mostly experienced net outflows in September 2025, with Vanguard and Capital Group having the largest outflows of $19.9 billion and $7.9 billion, respectively [3][36] - The top 10 asset management firms in the US ETF market all had net inflows in September 2025, with iShares and Vanguard having the largest inflows of $49.7 billion and $30.7 billion, respectively [3][36] - In September 2025, the US market saw the launch of 78 new funds, including 71 ETFs and 7 open-end funds [4][48] - The top 10 open-end funds with the highest net inflows in September 2025 included 4 equity funds and 6 bond funds, with Vanguard Total Bond Market II Index Fund having the highest inflow of $5.8 billion [45] - The top 10 ETFs with the highest net inflows in September 2025 included 8 equity funds and 2 commodity funds, with iShares Core S&P 500 ETF having the highest inflow of $18.7 billion [46] =========