A historic inflow streak into the world’s biggest exchange traded fund has come to a sudden end in June, with the S&P 500 benchmark fund losing billions even as Wall Street celebrated fresh record highs.
The Vanguard S&P 500 ETF (NYSE:VOO) saw $5.69 billion in outflows during the month, marking its first monthly net redemption since December 2022 and the second-largest outflow since the fund’s launch in 2015.
The redemptions signal a notable divergence between market performance and investor behavior. The S&P 500 reached new all-time highs in late June, yet large swaths of institutional and retail investors opted to take profits and reduce exposure.
Over the three years leading up to June 2025, the VOO ETF attracted $250 billion in inflows, overtaking the SPDR S&P 500 ETF Trust (NYSE:SPY) to become the world’s largest ETF.
Broad-Based Redemptions Across Some Large-Cap ETFs
The outflows from …