U.S. fixed income ETFs garnered strong flows in February, uncovering insights into investor behavior and risk appetite in 2025.
The $1.6 trillion U.S. fixed income ETF segment took in $31 billion in net flows in February, bringing year-to-date flows to $59 billion as of the end of the month. The funds that saw the greatest flows last month came from issuers iShares, Vanguard, and J.P. Morgan Asset Management.
This year’s strength is building on a record-breaking 2024, when the ETF industry saw over $1 trillion in yearly flows for the first time in history. Last year, U.S. fixed income ETFs saw $227 billion in net flows. While only two months into the year, the U.S. fixed income ETF segment is on track to surpass last year’s flows.
1. iShares 0-3 Month Treasury Bond ETF (SGOV )
SGOV took in the greatest flows across U.S. fixed income ETFs in February, garnering $3.4 billion. The $36 billion fund has seen $6.0 billion in year-to-date net flows through the end of last month.
2. iShares Core U.S. Aggregate Bond ETF (AGG )
AGG saw $2.3 billion in February flows, claiming second place in both February flows and largest U.S. fixed income ETFs. The $125 billion ETF has seen $2.9 billion in net flows year to date.
3. iShares 10-20 Year Treasury Bond ETF (TLH )
iShares rounds out the top three U.S. fixed income ETFs by February flows with TLH, which accreted $2.2 billion in February. Interestingly, the fund did not see the same standout flows in January. The $9.5 billion ETF has taken in $2.4 billion in year-to-date flows.
4. Vanguard Total Bond Market ETF (BND )
BND ended the month as the largest ETF in the segment by AUM. The $127 billion U.S. fixed income ETF took in $2.0 billion in flows in February, bringing year-to-date flows to $3.3 billion.
5. JPMorgan Ultra-Short Income ETF (JPST )
JPMorgan rounds out the top five with JPST. The fund stands out as the only active ETF on this list, and is the largest active U.S. fixed income ETF on the market.
JPST, which has $31 billion in assets, took in $1.9 billion in February. The fund has seen $2.6 billion in net flows year to date through February.
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