Thematic ETF assets climbed 49.6% through the first 11 months of 2025, reaching $467.93 billion by the end of November, according to research from ETFGI.
Investors moved money into funds targeting specific investment themes rather than broad market exposure. Thematic funds allow investors to focus on trends like artificial intelligence, clean energy, or healthcare innovation through a single investment vehicle.
Net inflows into thematic ETFs totaled $8.17 billion in November alone, marking the twelfth consecutive month of positive flows, according to ETFGI. Year-to-date inflows of $69.63 billion represent the second-highest annual total on record, trailing only 2021’s $88.27 billion.
Technology and climate change themes dominated the category, together accounting for nearly half of total thematic ETF assets, according to the report. Healthcare showed strong year-to-date inflows of $9.96 billion despite its relatively smaller asset base.
The category now includes 1,679 ETFs from 286 providers listed on 54 exchanges across 42 countries, according to ETFGI. Providers launched 15 new thematic ETFs during November.
iShares leads the global thematic ETF market with $74.4 billion in assets and a 15.9% market share, according to the report. Mirae Asset ranks second with $47 billion, while First Trust holds third place with $30.03 billion.
AI and Infrastructure Themes Draw Inflows
Among individual funds, the iShares AI Innovation and Tech Active ETF (BAI) gathered the largest individual net inflow in November at $726.07 million, bringing its total assets to $7.99 billion, according to ETFGI. The fund has attracted $7.22 billion in net flows year-to-date.
Infrastructure-focused strategies also drew capital. The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) collected $328.19 million in November and holds $4.88 billion in assets, according to the report. Year-to-date inflows totaled $2.2 billion.
Energy themes continued attracting flows, with the Global X Uranium ETF (URA) bringing in $343.77 million during November, according to ETFGI. Assets now stand at $5.21 billion after year-to-date flows of $185.24 million.
The S&P 500 rose 0.25% in November and gained 17.81% year-to-date, according to ETFGI. Developed markets outside the U.S. climbed 0.73% in November and advanced 30.79% through 2025, while emerging markets declined 1.69% in November but remained up 22.4% year-to-date.
Resources management was the only theme experiencing negative flows in November, signaling rotation away from that segment, according to the report. However, the overall industry maintained strong momentum, with November marking the twelfth straight month of net inflows.
For more news, information, and strategy, visit ETF Trends.
Originally published on ETF Trends
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