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ETF use among RIAs has entered a more mature phase, according to 2026 RIA ETF Trends Report From AdvisorPro. While the average number of new ETF additions per firm increased between the fourth quarter of 2024 and the fourth quarter of 2025, the turnover in funds used by RIAs was lower than last year. RIAs have also shifted their focus from risk management to a more balanced mix of ETFs to select new funds that include growth, thematic and macro strategies.
During the past year, RIAs tracked by AdvizorPro increased their average ETF count to 88.3—representing a 13.7% increase over the previous year. The vast majority of RIAs (71.4%) increased their ETF holdings, while nearly a fifth (20.5%) decreased the number of ETFs in their portfolios. Another 8.1% held their ETF holdings at year-end 2024 levels.
AdvizorPro found a 36.3% slower turnover rate among ETFs in RIAs’ portfolios than in nearly half of all ETFs in 2024. The overall trend last year was toward adding new ETFs, with 41.9% of funds added to RIA portfolios versus 18% of existing funds.
However, Michael Mignon, founder and CEO of AdvizorPro, noted that, in his view, a more mature ETF market will likely lead to a slowdown in new ETF adoption. “I don’t see any signs that it’s going to change for the worse, but I think as the market continues to grow, we’re going to start seeing a little bit of a slowdown in net new adoption, and it’s going to be more competitive for ETF managers to position themselves as the best option in a given sleeve,” Magnan said.
While the list of top ETF issuers remained largely the same, including State Street Global Advisors, iShares, Vanguard and Invesco, the top four lost some market share in 2025, while other mainstays, such as Schwab, did not register nearly as much growth. For example, iShares experienced a 7.7% decline in the number of RIA firms owning ETFs—more than any other performer included in AdvizorPro’s top list. State Street saw a 6.4% decline. The number of RIAs holding Schwab ETFs increased just 0.1%.
Meanwhile, Dimension experienced 6.7% growth in RIAs holding their own ETFs, with JPMorgan Chase a distant second at 2.0% and VanEck third at 0.9%. According to AdvizorPro researchers, the data suggests that “the speed of adoption in the RIA channel is increasingly tied to product expertise rather than just brand size.”
