ETF We strengthen leadership in European ETFs in 2025 with +€46bn net inflows and €342bn ETF AUM

We had another milestone year for its ETF franchise in 2025, strengthening its position as #1 European provider both in terms of inflows (+€46bn of net inflows) and in assets under management (€342bn)¹. 
This growth comes amid a record year for the UCITS ETF market: over +€330bn of flows in 2025, contributing to total industry ETF AuM rising above €2.5tn².

ETFs have continued to grow by serving as flexible portfolio building blocks that combine long-term core exposures with tactical tilts, offering liquid, transparent instruments and cost-efficient market access.

Additional drivers have also accelerated this trend:

• Broadening adoption across all client segments: digital and ETF-based savings & retirement offerings are expanding access to retail investors, while asset owners increasingly rely on ETFs as efficient and liquid instruments to execute allocation shifts and meet investment objectives including responsible investment ones.
• Expanding product offering meeting evolving investors’ needs: innovation continue to fuel new ETF launches with granular and thematic exposures helping investors respond to new market environments and new structures to provide investors specific market access.
• ETFs as solutions and implementation tools: growing adoption of ETF-based models, partnerships and white-label offerings support customised portfolio construction and scalable investment solutions across client segments.

Our ETFs proved attractive to clients across all segments — retail investors, digital platforms, wealth managers, institutional investors and fund managers — for both long-term strategic & tactical allocation.

Client diversification has been accelerating with roughly half of AuM coming from retail investors in 2025².
Amundi also continued to scale and adapt its UCITS ETF offering in Asia and Latin America to meet local demand: about 30% of net new ETF assets came from outside Europe².

Investors continued to take advantage of Amundi’s large and diversified product offering, using it as a one-stop solution to adjust portfolio allocations as market conditions evolved.

• Successful Core Range: 2025 was marked by a strong rotation into European equities.
• Strong Fixed Income franchise: cash alternative strategies have been amongst the most favoured exposures in 2025
• Ongoing leadership in swap-based ETFs: swap-based ETF AUM more than doubled over three years to €307bn at the end of 2025. 

We expanded its platform to offers 350 ETFs globally. Notable launches in 2025 include:

• Thematics: European Defence & Strategic Autonomy thematic ETFs, supporting investment in European strategic initiatives with long-term growth exposure.
• Life-cycle ETFs: long-term financial-planning solutions for retail investors with specific lifecycle objectives.
• Active ETF: New active money market ETF to address demand from investors seeking very low risk profiles in a format that combines the accessibility and continuous trading features of ETFs.
• Responsible Investment: screened Responsible Investment ETFs that enable clients to align portfolios with ESG objectives while targeting low tracking error.
   

In addition, Amundi announced the launch of an “ETF-as-a-Service” offer, a comprehensive and modular white-label proposition that enables clients – digital platforms, asset and wealth managers notably – to design, launch and scale ETFs under their own brand, while leveraging our first-class infrastructure.

This new platform is a natural extension of our mission to serve partners end-to-end, broaden solutions, and drive innovation in the ETF ecosystem.