Industry inflows rose by 10.4 percent last month, and by 93.3 percent year-over-year, according to the latest data from the folks at a publicly traded investment research firm.

This article draws from Morningstar Direct data on February 2026 mutual fund and ETF flows, excluding money-market funds and funds-of-funds. Other asset management products, like collective trusts and separate accounts, are also not included.

Long-term mutual funds and ETFs brought in a combined $150.085 billion in net inflows in February 2026, up by $14.135 billion month-over-month from January 2026 and up by $72.45 billion Y/Y from February 2025. As of February 28, 2026, per M's data, the industry's 780 fund firms (up by 6 M/M, up by 7 Y/Y) had:

a combined $36.983 trillion in AUM (up by $514 billion M/M, up by $5.711 trillion Y/Y),

across 43,703 ETFs and long-term mutual funds (up by 122 M/M, up by 336 Y/Y).

That translates into an average of $192.415 million in net February 2026 inflows per fund firm and $3.434 million inflows per fund. At the end of the month, the average fund firm had 56.03 funds and ETFs, with $47.415 billion in combined AUM.

392 fund firms brought in net inflows in February 2026. The median firm brought in neglible inflows and had 5 funds with about $386 million in AUM.

For the trailing twelve months ending on February 28, 2026, ETFs and long-term mutual funds brought in an estimated $943.377 billion in net inflows. That's equivalent to an average of $1.209 billion in net net TTM inflows per firm and 21.586 million in net TTM inflows per fund. Yet the median firm brought in negligible TTM inflows, 389 firms in total netted inflows. 

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