Where did GCC ETF money go in Q3?
GCC-listed ETFs ended Q3 2026 with $9.16 billion in reported assets across 43 funds*, but the market remains highly concentrated. Thematic strategies hold 66.0% of assets, while the four largest funds account for 84.5% of the total. Year-to-date net flows turned negative at $19.6 million, although the latest month recorded a modest $0.2 million inflow.
Saudi Arabia dominates regional equity ETF assets, while alternatives attracted $30.0 million in year-to-date inflows, offsetting outflows from equity, thematic, and fixed-income funds. Trading activity remains uneven, with a median daily volume of 7,277 shares per listing and a median reported expense ratio of 0.70%.
New developments are shaping the next phase of growth, from Saudi Arabia’s new equity ETF and Kuwait’s ETF framework to Oman’s cross-border plans. ADX also expects three to four additional ETF listings by year-end.
The full report breaks it all down: market-wide assets and flows, equity, fixed income, thematic and alternative strategies, fees, performance, trading activity, and a dedicated review of GCC ETF launches and market developments, with fund-by-fund data for all 43 funds in the tracked universe.
The full report is available as a downloadable PDF.
