Assets surge past $720B, fund count jumps, and advisor-relevant trends emerge in Nov 2025 data
The latest Canadian ETF market snapshot through November 2025 reveals a rapidly expanding ecosystem.
According to the newly-released CETFA Monthly Report, total assets under management reached $721.5 billion, climbing 35.6% year-over-year and up 11.1% in the last three months. The number of ETF funds listed now totals 1,475, a net expansion of 257 over the past year and 70 in the past quarter.
Equity exposures continue to dominate the landscape, comprising 67.4% of total industry assets, with fixed income at 20.3% and multi-asset, money-market, and other categories filling out the balance.
Within equities, US and Canadian exposures maintain leadership, while global and international allocations also account for meaningful slices of investor portfolios. Crypto ETF category assets, though smaller, register at around 1.2%.
From an issuer perspective, BlackRock Canada remains the largest provider with $182.8 billion in ETF AUM, followed by BMO Asset Management ($159.3B) and Vanguard Canada ($103.0 billion). Fidelity, Mackenzie, and TD Asset Management also feature prominently, collectively illustrating a competitive and diversified provider environment.
READ: Canadian investment funds grow with strong sales for ETFs, mutuals in November
Top individual ETFs by asset size include flagship equity trackers such as Vanguard S&P 500 Index ETF (VFV), BMO S&P 500 Index ETF (CAD Units) (ZSP), and iShares S&P/TSX 60 Index ETF (XIU) – all with assets in the multi-billion range. Fixed income leaders like BMO Aggregate Bond Index ETF (ZAG) remain key staples for diversified allocations.
The iShares S&P/TSX 60 Index ETF (XIU) saw the largest monthly net creations, followed by Canadian equity and core fixed income products. This flow data suggests continuing demand for both core domestic exposure and diversified global equities.
The updated report also details products experiencing net redemptions, with some leveraged, thematic, and bond ETFs seeing outflows, information that may inform rebalancing or strategy discussions with clients.
