MutualFundWire.com: Tidal Takes the January Lead

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Tuesday, February 25, 2025

Tidal Takes the January Lead

An ETF-in-a-box shop pulled ahead last month among midsized fund firms, according to the latest data from the folks at a publicly traded investment research firm.

Guillermo Trias
CEO, Partner
Tidal Investments LLC

This article draws from Morningstar Direct data on January 2025 mutual fund and ETF flows, excluding money market funds and funds of funds. (Other asset management products, like CITs and SMAs, are also not included.) More specifically, this article focuses on the 211 firms (down by four month-over-month from December 2024 and down by three year-over-year from January 2024) with between 10 and 99 long-term mutual funds and ETFs each.

Tidal (including Fundstrat and Yieldmax) took the lead last month, thanks to an estimated $1.515 billion in net January 2025 inflows, down by $688 million M/M from December 2024. Other big January 2025 inflows winners included: Causeway, $1.333 billion (up by $1.124 billion M/M, up by $1.28 billion Y/Y); Baird (including Strategas), $1.179 billion (down by $1.515 billion M/M, down by $633 million Y/Y); Edward Jones' Bridge Builder, $1.076 billion (down by $358 million M/M, up by $381 million Y/Y); and Graniteshares, $830 million (up by $821 million M/M, up by $755 million Y/Y).

For the trailing twelve months ending on January 31, 2025, Baird led the midsize firm inflows pack, thanks to an estimated $19.81 billion in net inflows. Other big TTM inflows winners included: Dodge & Cox, $10.226 billion; and Tidal, $9.521 billion.

On the flip side, Pacer took the outflows lead last month, thanks to an estimated $523 million in net January 2025 outflows, up by $369 million M/M from December 2024 and a $2.671-billion net flows drop Y/Y from January 2024. Other big January 2025 outflows sufferers included: Polen, $316 million (up by $111 million M/M, up by $216 million Y/Y); Grayscale, $296 million (down by $1.636 billion M/M, down by $5.62 billion Y/Y); Harding Loevner, $268 million (down by $210 million M/M, up by $73 million Y/Y); and Valic, $266 million (down by $6 million M/M, down by $20 million Y/Y).

As of January 31, 2025, Grayscale led the TTM outflows pack among midsize firms, thanks to an estimated $18.484 billion in net outflows. Other big outflows sufferers included: Harding Loevner, $5.358 billion; and Baron, $4.415 billion.

As a group, midsize fund firms brought in $9.196 billion in net January 2025 inflows, accounting for 23 percent of overall industry inflows. (That's up by $2.7 billion M/M and an $11.714-billion net flows improvement Y/Y.) As of January 31, 2025, midsize firms accounted for 26.4 percent of industry fund firms and held $1.745 trillion in AUM (down by $71 billion M/M, up by $209 bilion Y/Y) across 5,924 funds (down by 195 M/M, up by 73 Y/Y).

As of January 31, 2025, midsize firms brought in $51.096 billion in net TTM inflows. That accounts for 7 percent of industry inflows over those 12 months.

Across the whole industry, the 800 firms (down by six M/M but up by 27 Y/Y) brought in $39.92 billion in net January 2025 inflows. (That's down by $56.998 billion M/M but up by $3.979 billion Y/Y.) As of January 31, 2025, the industry had $31.435 trillion in AUM (up by $888 billion M/M and up by $4.812 trillion Y/Y) across 43,279 funds (down by 63 M/M but up by 833 Y/Y).

For the 12 months ending January 31, 2025, the industry brought in $732.311 billion in net inflows.

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