Assets invested in thematic exchange traded funds ( ETF) listed globally rose in 2025, increasing 49.6% in the first eleven months of the year to reach $467.93 billion at the end of November last year, according to ETF research firm ETFGI.
iShares led globally with $74.40 billion in thematic ETF assets, accounting for 15.9% market share, followed by Mirae Asset with $47.00 billion (10.0%) and First Trust with $30.03 billion (6.4%).
Technology and climate change themes together accounted for nearly half of total thematic ETF assets and inflowss, with healthcare also attracting interest. Resources management was the only theme to record net outflows in November.
While November slipped slightly from October’s record high of $476.42 billion, the month was still supported by net inflows of $8.17 billion.
Year-to-date net inflows reached $69.63 billion. November 2025 marked the 12th straight month of net inflows for thematic ETFs, with 15 new funds launched during the month.
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The top 20 thematic ETFs gathering $6.71 billion in net new assets. The iShares AI Innovation and Tech Active ETF recorded the largest individual inflow, attracting $726.07 million during the month.
“The S&P 500 rose 0.25% in November and is up 17.81% year-to-date. Developed markets excluding the US gained 0.73% in November and are up 30.79% in 2025, with Luxembourg (+9.82%) and Ireland (+8.05%) posting the largest monthly increases. Emerging markets declined 1.69% in November but remain up 22.40% year-to-date, while Saudi Arabia and the UAE recorded the largest monthly decreases,” said Deborah Fuhr, managing partner, founder and owner of ETFGI.
