US equity ETF inflows are losing momentum: US equity ETFs attracted +$3.3 billion in inflows on average per day in September, the lowest reading since March. This also marks the 3rd consecutive monthly decline. By comparison, these funds attracted a record +$7.0 billion in inflows on average per day in June. September’s figure is now lower than the daily average of +$3.7 billion seen in 2025. However, this is still more than double the levels seen in 2022 and 2023. Buyers are taking a breather.