U.S.-listed ETFs saw a massive $40.1 billion worth of inflows in January 2017, according to recently-tallied data, as strong demand for U.S. equities, emerging markets, and corporate bonds kicked the year off on a bullish note.

As big as January’s inflows were, believe it or not, December 2016 saw 50% higher inflows. ETF.com reports:

January’s solid inflows followed record-breaking net creations in December of about $61.5 billion. Those inflows pushed 2016’s total haul to $287.5 billion—an annual record. Today the U.S. ETF market has more than $2.64 trillion in assets.

That means to reach the landmark $3 trillion asset mark in 2017, ETFs will need to gather $360 billion in assets in the final 11 months of the year — or around $33 billion per month, on average.

U.S. equity funds were the biggest winners in January, with four of the top ten biggest asset gatherers coming from that realm. Emerging markets also saw huge interest, as did corporate bonds (perhaps surprising amid a rising interest rate environment).

The biggest losers in January were commodity funds, which saw $790 million in net outflows during the period.

The Vanguard 500 Index Fund (NYSE:VOO) led all ETFs with $2.158 billion in net inflows in January, bringing its total assets to nearly $60 billion. The fund is the third largest S&P 500-tracking ETF and the fifth largest fund overall in the U.S. landscape.

VOO was trading at $209.20 per share on Thursday morning, up $0.2 (+0.10%). Year-to-date, VOO has gained 1.89%, versus a 1.95% rise in the benchmark S&P 500 index during the same period.

VOO currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #4 of 109 ETFs in the Large Cap Blend ETFs category.

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