RIA continued to add net new ETFs to their portfolios in the first quarter of 2026, according to a new report from AdvizorPro.
The average number of ETFs held per firm rose to 89.7, according to the firm, which based its findings on 13F filings from 5,304 RIAs it has tracked over both quarters. Just over half of RIAs (50.1%) added new funds to their ETF line-up, vs. 28.9% who culled their holdings. ETF categories that saw an influx of new money in the first quarter included funds that focus on energy, natural resources and commodities, with growth also seen in real estate, defense industries and international equities.
However, some of the largest, most established ETF issuers—iShares, State Street Investment Management, Invesco—lost minor market share during the first quarter, while issuers focusing on active and specialty strategies gained market share. These included Akre Capital Management (with a 188.6% increase in RIAs holding its ETFs), Cohen & Steers (up 35.3%), REX Shares (up 31.6%) and Cambria (up 27.0%), among others.
RIAs are now looking for new ETFs to fulfill specific roles in their investment portfolios, rather than overhauling their entire fund lineup, AdvizorPro researchers reported. While the average ETF turnover ratio was higher than during the previous quarter at 12.3%, RIAs held on to 90% of their existing ETF positions.
“The constructive signal is not the [turnover] rate itself but the consistent surplus of adds over drops,” the researchers noted. The add rate for ETFs averaged 13.7% in the first quarter, compared with a drop rate of 9.2%.
When it came to new strategy categories, AvizorPro reported a 14% increase in RIAs allocating to equity energy ETFs, with 265 new allocators, a 13.2% increase or 118 new RIAs allocating to ETFs in the commodities broad basket category, and an 8.4% increase or 145 new RIAs allocating to the natural resources category. Other growing categories included industrials, Latin American stocks and diversified emerging markets.
The ETF with the fastest-growing RIA share in the first quarter was Akre Capital Management’s large-growth AKRE ETF, which added 264 RIAs, representing 188.6% quarter-over-quarter growth. However, AdvizorPro clarified that “A 188.6% CRD surge in a single quarter for a fund less than a year old reflects pent-up advisor demand for a brand-credible active manager finally available in ETF form. It is a one-time adoption event, not a distribution blueprint.”
Amplify ETFs’ derivative income ETF, IDVO, added 38 RIAs, signaling 74.5% growth. VanEck’s global moderate allocation ETF, RAAX, added 49 RIAs, with growth of 74.2%. Meanwhile, USCF’s commodities broad basket ETF, SDCI, added 32 RIAs, with growth of 62.7%.
The adoption of these and other new ETFs has been driven primarily by RIAs with AUM between $1 billion and $100 billion, according to AdvizorPro data.
The firm also found that RIAs have been willing to pay higher fees, in the top decile for the fourth quarter of 2025, for funds providing some risk management, including long-short, market-neutral and hedged income strategies. Among these were Convergence Investment Partners’ long-short equity fund CLSE (up 69 RIAs or 25.5%), iShares’ high yield bond HYGH (up 88 RIAs or 10.0%) and Infrastructure Capital Advisors’ preferred stock fund PFFA (up 173 RIAs or 9.5%).
“Last year’s high-fee leaders were overwhelmingly defined outcome and options-based funds from First Trust and Innovator. This quarter, the list broadens to include long-short equity, credit-hedged income and infrastructure, suggesting advisor willingness to pay for complexity is expanding beyond buffered products,” AdvizorPro researchers wrote.
