UCBG's $2.5B Record-Breaking Debut Leads ETF Flows
Sumit RoyTue, September 8, 2026 at 12:34 AM GMT+3 4 min read
Investors added $21.3 billion to US-listed ETFs during the week ending Friday, Sept. 4. Half of that, $10.1 billion, flowed into US fixed income ETFs, with the rest split among international equity, international fixed income, commodity and other funds. US equity ETFs bucked the trend with a rare outflow of $1.3 billion.
The S&P 500 was essentially flat on the week, sitting just off its record highs, while the 10-year Treasury yield climbed 6 basis points to 4.78%, its highest level since late 2023.
At the individual fund level, the Vanguard S&P 500 ETF (VOO) topped the inflows list, but the real standout was the State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF (UCBG), which pulled in $2.5 billion.
The fund launched on Sept. 2 with a $2.5 billion anchor investment from UC Investments, the investment arm of the University of California, making it the largest US-listed ETF launch on record.
UCBG tracks an index built by UC Investments that puts 90% of its weight in the S&P 500 and 10% in short-duration investment-grade corporate bonds, an endowment-style allocation delivered in an ETF wrapper.
Gold ETFs also gathered assets last week, with the SPDR Gold Shares (GLD) taking in $1.4 billion. GLD has had a strong month for both price and flows as the debasement trade has made something of a return in recent weeks.
Other winners last week included the iShares Core MSCI EAFE ETF (IEFA) and the Vanguard Total International Stock ETF (VXUS), with inflows of roughly $800 million and $600 million, while the iShares 0-3 Month Treasury Bond ETF (SGOV) was the biggest fixed income asset gatherer.
On the outflows side, a notable loser was the Roundhill Memory ETF (DRAM), which shed $934 million.
For a full list of last week's top inflows and outflows, see the tables below.
Top 10 Creations (All ETFs)
Ticker
Name
Net Flows ($, mm)
AUM ($, mm)
AUM % Change<
State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF
iShares 0-3 Month Treasury Bond ETF
Vanguard Total Bond Market ETF
Vanguard Total Stock Market ETF
SPDR Portfolio Short Term Corporate Bond ETF
Vanguard Total International Stock ETF
Top 10 Redemptions (All ETFs)
Ticker
Name
Net Flows ($, mm)
AUM ($, mm)
AUM % Change
-17,066.07
-1.95
-3,391.74
-0.42
-2,758.15
-1.62
iShares iBoxx $ Investment Grade Corporate Bond ETF
-2,627.01
-8.82
-2,111.33
-0.44
-933.79
-3.80
iShares iBoxx $ High Yield Corporate Bond ETF
-905.89
-5.88
-809.60
-1.01
iShares Expanded Tech-Software Sector ETF
-544.62
-3.75
-544.61
-1.77
ETF Weekly Flows By Asset Class
Net Flows ($, mm)
AUM ($, mm)
% of AUM
Alternatives
1.03%
Asset Allocation
5.42%
Commodities E T Fs
0.67%
Currency
0.71%
International Equity
0.07%
International Fixed Income
0.65%
Inverse
2.47%
Leveraged
-563.78
-0.31%
Us Equity
-1,314.33
-0.01%
Us Fixed Income
0.46%
Total:
0.13%
Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.
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