BlackRock vs Vanguard ETF Performance Q2 2026: Full Comparison

Quick Answer

BlackRock iShares captured $98B in net ETF inflows in Q2 2026, leading the industry. Vanguard captured $76B. BlackRock leads active ETFs with 34% market share; Vanguard remains primarily passive. Total US ETF assets reached $12.1 trillion. Both platforms outperformed mutual funds as the structural shift toward ETFs continued in 2026.

Q2 2026 Flow Summary

Total US ETF net inflows reached $265B in Q2 2026. BlackRock iShares: $98B (driven by IVV, IBIT Bitcoin ETF, TLT). Vanguard: $76B (driven by VOO, VTI, BND). Fidelity: $34B (gaining share in active ETFs). State Street SPDR: $28B. Active ETFs captured 18% of total flows despite only 6% of total assets.

Expense Ratio Comparison

Vanguard's asset-weighted expense ratio: 0.07% — the industry's lowest. BlackRock iShares average: 0.16%. The zero-fee ETF category (pioneered by Fidelity ZERO funds) has grown to $89B. Morgan Stanley estimates annual fee compression costs the industry $3B in revenue annually, favouring large-scale operators like BlackRock and Vanguard.

Frequently Asked Questions

How much did BlackRock iShares take in during Q2 2026?

BlackRock's iShares captured $98B in net ETF inflows in Q2 2026 — the most of any provider. This was driven by the S&P 500 ETF (IVV), the Bitcoin Trust (IBIT), and fixed income ETFs. BlackRock maintains approximately 34% of total US ETF assets, making it the world's largest ETF provider by a significant margin.

What is Vanguard's average ETF expense ratio in 2026?

Vanguard's asset-weighted average expense ratio is 0.07% — the lowest in the industry. This reflects their mutual ownership structure which incentivises cost minimisation. BlackRock iShares averages 0.16%. For a $100,000 investment, the annual fee difference is $90 — meaningful over long time horizons.