A Connecticut ETF shop took the inflows lead by one proportional measure last quarter, according to the latest data from the folks at a publicly traded investment research firm.

This article draws from Morningstar Direct data on September 2025 mutual fund and ETF flows, excluding money market funds and funds of funds. (Other asset management products, like CITs and separate accounts, are also not included.)

Neos took the lead in the third quarter of 2025, thanks to an estimated $430 million per fund in net Q3 2025 inflows, up by $159 million quarter-over-quarter from Q2 2025 and up by $320 million year-over-year from Q3 2024. Other big Q3 2025 inflows winners included:

Edward Jones' Bridge Builder, $391 million per fund (up by $116 million Q/Q, up by $137 million Y/Y);

Wedbush, $379 million per fund;

River Canyon, $299 million per fund (up by $288 million Q/Q, up by $165 million Y/Y); and

Eagle Capital Management, $247 million per fund (down by $27 million Q/Q, up by $210 million Y/Y).

Yet Wedbush took the lead last month, thanks to an estimated $192 million per fund in September 2025 inflows. Other big inflows winners included: Neos, $162 million per fund; and BridgeBuilder, $117 million per fund.

On the flip side, Edgewood took the outflows lead last quarter, thanks to an estimated $866 million per fund in net Q3 2025 outflows, up by $461 million Q/Q from Q2 2025 and up by $848 million Y/Y from Q3 2024. Other big Q3 2025 outflows sufferers included:

Primecap, $334 million per fund (down by $164 million Q/Q, down by $61 million Y/Y);

Akre, $185 million per fund (up by $94 million Q/Q, down by $34 million Y/Y);

FMI, $124 million per fund (up by $29 million Q/Q, up by $114 million Y/Y); and

Ruane Cunnif & Goldfarb's Sequoia, $79 million per fund (up by $52 million Q/Q, roughly flat Y/Y).

Edgewood also kept the outflows lead for a second month in a row, thanks to an estimated $614 million per fund in net September 2025 outflows. Other big outflows sufferers included: Primecap, $78 million per fund; and Akre, $52 million per fund.

The whole long-term mutual fund and ETF industry brought in $5.06 million per fund in Q3 2025 inflows. That's up by $3.534 million Q/Q and up by $1.265 million Y/Y.

The industry brought in $1.862 million per fund in net September 2025 inflows. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE