If you needed a sign that the AI trade is still alive and kicking, Monday's ETF flows delivered it with a semiconductor-sized exclamation point. The iShares Semiconductor ETF (SOXX) attracted a whopping $1.38 billion in net inflows, barely edging out the Invesco QQQ Trust (QQQ) at $1.37 billion. But the real story is the chip sector's dominance: add in the Direxion Daily Semiconductor Bull 3X Shares (SOXL), which pulled in another $749.7 million, and you get over $2.1 billion flowing into semiconductor ETFs in a single day, according to data from Etf.com.
It wasn't just chips, though. Growth-oriented funds also saw strong demand. The Invesco NASDAQ 100 ETF (QQQM) gathered $398.3 million, and the iShares Russell 1000 Growth ETF (IWF) took in $351.4 million. International exposure remained in vogue, with the iShares MSCI South Korea ETF (EWY) collecting nearly $493 million—a nod to the country's key role in the global semiconductor supply chain, particularly memory chips.
On the flip side, not every ETF was a winner. The iShares Core S&P 500 ETF (IVV) saw the largest outflow at $565.8 million, followed by SPDR Gold Shares (GLD) at $366.4 million. Small-cap funds also felt the heat, with the Principal U.S. Small-Cap ETF (PSC) losing $322.7 million—a steep 14.4% of its assets under management.
Quick Context: The AI Trade Keeps Driving Flows
Semiconductor ETFs have been among the strongest asset gatherers in 2026 as investors continue to position for spending tied to artificial intelligence, memory chips, and advanced computing infrastructure. Recent inflows into funds like SOXX and leveraged products like SOXL reflect persistent demand for chipmakers despite elevated valuations and occasional bouts of sector volatility.
At the same time, the latest flow data suggest investors are rotating rather than exiting equities altogether. Money moved into Nasdaq-100, semiconductor, and growth-oriented ETFs even as broad-market exposure through IVV saw redemptions. The sizable inflow into South Korea-focused EWY also aligns with investor interest in companies that play key roles in the global semiconductor supply chain, including memory-chip manufacturers. Meanwhile, outflows from GLD indicate some investors may be reducing defensive allocations as risk appetite remains centered on technology and AI-related themes.
