Vanguard’s Huge 2024 ETF Growth Narrows Gap With BlackRock

Vanguard’s

exchange-traded funds pulled in $304.4 billion in new assets during 2024, outpacing BlackRock’s iShares’ $292.1 billion in inflows, according to etf.com data.

For ETF investors, the race between the two largest fund providers shows how Vanguard’s lower-cost approach continues to attract assets despite having far fewer funds than its larger rival.

While BlackRock manages nearly $3.2 trillion across 438 ETFs, Vanguard has amassed more than $2.9 trillion with just 86 funds, etf.com data reveals.

The competition is particularly fierce in S&P 500 index funds, in which the Vanguard S&P 500 ETF (VOO) attracted $116.2 billion in 2024, compared to $86.7 billion for BlackRock’s iShares Core S&P 500 ETF (IVV), according to etf.com data.

Both funds are gaining ground on the largest—and oldest—ETF, State Street’s SPDR S&P 500 ETF Trust (SPY), which saw relatively modest inflows of $16.5 billion despite its $626.3 billion in assets.

The shifting dynamics come as Vanguard appointed former BlackRock executive Salim Ramji as CEO last July, following Tim Buckley’s retirement announcement in March.

The company’s flagship S&P 500 ETF, VOO, now manages $586.2 billion, nearly matching BlackRock’s similar IVV at $588.2 billion, according to etf.com data.

Among its other top-performing funds, Vanguard’s Total Stock Market ETF (VTI) gathered $29.2 billion in 2024, while the Vanguard Growth ETF (VUG) attracted $15.5 billion, etf.com data show.

Meanwhile, BlackRock’s most successful products after IVV included its iShares Core U.S. Aggregate Bond ETF (AGG), pulling in $21 billion, and its international equity fund, the iShares Core MSCI EAFE ETF (IEFA), which added $11.6 billion.

Vanguard’s strong inflows come despite criticism for not participating in the debut of spot bitcoin ETFs earlier this year. However, the appointment of Ramji, who helped launch BlackRock’s Bitcoin ETF (IBIT), suggests potential changes in Vanguard’s cryptocurrency stance.

The firm’s success stems from its focus on U.S. equity products, which have outperformed bond and international offerings. BlackRock’s more diverse lineup includes assets in fixed-income and global-equity funds, which have seen mixed performance compared to domestic stock funds.

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