Leading investment platform InvestSMART says the latest ASX figures showing a $5.5 billion flow of funds into exchange traded funds (ETFs) in July 2025 are a clear indication of surging investor confidence.
Investor inflows into ETFs more than doubled in July 2025, as sentiment rebounds.
Net inflows rose 160% month-on-month from $2.13 billion in June 2025 to $5.5 billion in July.
Biggest winners July 2025
Global equity ETFs dominated investor preferences in July, attracting inflows of $2.52 billion versus just $0.74 billion in June 2025.
Australian equity-based ETFs ran a distant second, recording inflows of $998 million in July compared to $636 million in June 2025.
Interest rate cuts that kicked off in February, with expectations of more cuts to follow, have excited investor interest in Australian Fixed Income, which saw July inflows of $798 million compared to $532 million in June. Global Fixed Income attracted a $382 million inflow in July, more than double the $155 million in June 2025.
“Investors are clearly keen to lock in higher rates on bonds while also benefitting from capital appreciation as bond prices rise,” explained Mr Hodge. “I would expect however, that most of the investors shifting money into bond ETFs are retirees locking into higher yields, who will hold the asset to maturity.”
The top five ETFs for cash inflows in July were:
| Rank | ASX Ticker | Name | Inflow ($m) |
| 1 | VAS | Vanguard Australian Shares Index ETF | 405.6 |
| 2 | VGS | Vanguard MSCI Index International Shares ETF | 332.1 |
| 3 | IOZ | iShares Core S&P/ASX 200 ETF | 318.7 |
| 4 | NDQ | BetaShares NASDAQ 100 ETF | 269.5 |
| 5 | IVV | iShares S&P 500 ETF | 254.4 |
Mr Ron Hodge, CEO of InvestSMART says, “The latest ASX ETF data is a clear indicator of ‘risk-on’ sentiment among Australian investors.
“It’s not just about investors embracing local and international equities. The lower interest rate environment has seen investors veer away from cash-based ETFs.”
July inflows into cash ETFs were down to $255 million, compared to $314 million in June 2025.
Commodity and mixed assets boom…
Inflows into commodity and mixed assets ETFs inflows exceeded $100 million in July.
This was more than ten times the June levels, with mixed-asset ETFs recording a dramatic rise to nearly $200 million in inflows for the month of July.
…but investors dump gold for growth assets
July saw persistent outflows from gold-based ETFs.
GOLD, PMGOLD and QAU topped the outflow lists in both June and July.
“This is further evidence that investors believe gold is now overpriced relative to opportunities that lie within local and international equity markets,” concluded Mr Hodge.
The top five ETFs for cash outflows in July were:
| Rank | ASX Ticker | Name | Outflow ($m) |
| 1 | GOLD | Global X Physical Gold | -88.4 |
| 2 | PMGOLD | Perth Mint Gold | -71.9 |
| 3 | QAU | BetaShares Gold Bullion – Currency Hedged | -49.6 |
| 4 | IJP | iShares MSCI Japan ETF | -42.8 |
| 5 | EWAU | iShares MSCI Australia ESG Leaders ETF | -40.3 |
