MutualFundWire.com: SSIM Races to the Front, Thanks to a $9.7B Flows Jump
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Thursday, August 28, 2025

SSIM Races to the Front, Thanks to a $9.7B Flows Jump


The OG ETF provider took the passive flows lead last month thanks to nearly doubling its inflows, according to the latest data from the folks at a publicly traded investment research company.

Yie-Hsin Hung
 State Street Investment Management
President, CEO
This article draws from Morningstar Direct data on July 2025 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds. (The data also excludes other asset management products, like CITs and separate accounts*.) More specifically, this article focuses on the 152 firms (up by two month-over-month from June 2025 and year-over-year from July 2024) that offer passively managed, long-term mutual funds or ETFs.

State Street's SSIM (fka SSGA) pulled ahead last month, thanks to an estimated $20.474 billion in net July 2025 passive inflows, up by $9.669 billion M/M from June 2025 and up by $3.209 billion Y/Y from July 2024. Other big July 2025 passive inflows winners included:
  • BlackRock (including iShares), $19.353 billion (down by $17.108 billion M/M, down by $13.828 billion Y/Y);
  • Vanguard, $17.323 billion (up by $9.521 billion M/M, down by $6.984 billion Y/Y);
  • Fidelity, $9.675 billion (down by $1.296 billion M/M, up by $3.914 billion Y/Y); and
  • Schwab, $2.687 billion (up by $1.182 billion M/M, down by $386 million Y/Y).

    • On the flip side, Rafferty's Direxion, kept the outflows lead for a second consecutive month, thanks to an estimated $2.431 billion in net July 2025 passive outflows, up by $460 million M/M from June 2025 and a $5.808-billion net flows drop Y/Y from July 2024. Other big July 2025 passive outflows sufferers included:
  • Pacer, $1.041 billion (up by $106 million M/M, a $1.496-billion net flows drop Y/Y);
  • Jackson, $766 million (up by $120 million M/M, up by $164 million Y/Y);
  • ProShares and ProFunds, $679 million (down by $32 million Y/Y, a $1.107-billion net flows drop Y/Y); and
  • Ameriprise's Columbia Threadneedle, $621 million (a $1.355-billion net flows drop M/M, up by $561 million Y/Y).

    • Overall, passive funds brought in a combined $71.441 billion in net July 2025 inflows (up by $1.756 billion M/M, down by $23.26 billion Y/Y). 55.9 percent (85) of the passive fund families brought in net passive inflows in July 2025, up M/M and Y/Y from 53.3 percent.

    *This caveat is particularly important for large fund firms, many of which are big players in the 401(k) business, where collective investment trusts (CITs) and separately managed accounts (SMAs) are commonly used alternatives to traditional mutual funds.


    Printed from: MFWire.com/story.asp?s=70347

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