Single-country US ETFs surge as investors target AI, reform plays

Investors are also seeking diversification beyond the US after years of domestic equity outperformance, and country ETFs offer more precise portfolio construction than broad international products.

The week’s broader flow picture

Single-country ETF momentum arrived during a strong week overall for the US ETF market. US-listed ETFs took in $33.4 billion for the week ending September 25, 2026, led by $17.8 billion in equity ETF inflows and $10.8 billion into fixed income ETFs, according to TD Securities.

Global ex-US ETFs posted their largest weekly inflows over the past year during the period, with the iShares International Country Rotation Active ETF (CORO) and the iShares MSCI ACWI ex US ETF (ACWX) each drawing approximately $4.4 billion.

Alternative ETFs recorded the second-largest weekly inflows over the last year, with the iShares Bitcoin Trust ETF (IBIT), the iShares Systematic Alternatives Active ETF (IALT), and the Fidelity Wise Origin Bitcoin Fund (FBTC) contributing $1.2 billion, $907 million, and $702 million respectively, per TD Securities.

On the equity side, large-cap funds dominated with $19 billion in net inflows, while mid-cap funds saw outflows of $2.1 billion. Factor-based ETFs registered net outflows of $13.3 billion for the week, with value strategies shedding $9.6 billion – the largest weekly value outflows over the past year – driven by redemptions from the Pacer US Cash Cows 100 ETF (COWZ), the VictoryShares Free Cash Flow ETF (VFLO), and the Vanguard Morningstar Value ETF (VTV), according to Bloomberg data compiled by TD Securities.