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The numbers are in, and U.S. ETF flows in 2025 tell a nuanced story: active and income-oriented ETFs attracted headlines, but broad, low-cost vanilla strategies still dominated net inflows. Join Lois Gregson, Senior ETF Analyst at FactSet, and her guest Elisabeth Kashner, VP Director of Global Fund Analytics at FactSet, in this illuminating conversation. Elisabeth discusses the core theme of her popular annual market analysis along with the notable (and evolving) dynamics for AUM, flows, asset classes, fees, risk, and investment strategies. Lois also highlights Canadian ETF trends. This episode was recorded on January 26, 2026. The FactSet Insight podcast is for informational purposes only. The information contained within is not legal, tax, or investment advice. FactSet does not endorse or recommend any investments and assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained in this podcast episode. The views shared by third-party contributors do not necessarily reflect the opinion of FactSet. © FactSet Research Systems Inc. All rights reserved.