Total assets under management (AUM) of State Street Corporation from 4th quarter 2010 to 2nd quarter 2026

State Street total assets under management (AUM) reached a record of more than 5.6 trillion U.S. dollars by 2026. At the end of 2025, AUM stood at around 5.67 trillion dollars, easing slightly to 5.62 trillion in the first quarter of 2026 as markets pulled back, though this was still up around 20 percent on a year earlier. AUM is the money State Street manages for clients through its asset management arm, State Street Global Advisors, now branded State Street Investment Management. This is separate from, and much smaller than, its assets under custody and administration, which were around 54.5 trillion dollars and reflect its giant custody-bank business. State Street AUM has grown substantially over the long run, roughly tripling from around 2 trillion dollars at the end of 2010. The growth has been driven by rising markets and steady inflows into low-cost index funds and exchange-traded funds, especially its well-known SPDR range. As one of the Big Three index managers, alongside BlackRock and Vanguard, State Street is among the most important asset managers in the world.

State Street total assets under management has roughly tripled since the end of 2010, rising from around 2 trillion dollars to more than 5.6 trillion by 2026. This represents strong long-term growth, although the path has been uneven. The firm AUM hovered around 2 to 2.5 trillion dollars through the early 2010s, crossed 3 trillion around 2019, passed 4 trillion in 2021, fell back during the 2022 market downturn, and then surged to a record above 5 trillion by 2025. Most of this growth has come from two sources: rising global stock and bond markets, which lift the value of the index funds State Street manages, and steady inflows of new money, particularly into its low-cost ETFs. Because so much of its AUM tracks market indexes, State Street assets rise and fall closely with markets, which is why its growth has not been smooth. Even so, the overall direction has been firmly upward, reflecting the broad, long-running shift of investors toward low-cost passive investing, an area where State Street, as a pioneer of ETFs, has been a major beneficiary.

State Street AUM fell in four years over the period from 2010 to 2026: in 2011, 2015, 2018 and, most sharply, in 2022. In each case, the fall was driven by declining markets rather than by clients pulling out money in large amounts. Because the great majority of State Street assets are in index funds and ETFs that track stock and bond markets, its AUM moves closely with those markets. When markets fall, the value of the assets it manages falls too, reducing AUM even if inflows remain positive. The worst year was 2022, when AUM dropped around 16 percent as both stocks and bonds fell sharply in a rare simultaneous decline, driven by rising interest rates and high inflation. The years 2011, 2015 and 2018 each saw more modest market declines, particularly in their final months. In all these cases, AUM recovered in the following years as markets rebounded. This sensitivity to markets is typical of large index managers and is the main reason their AUM growth tends to be bumpy rather than steady.

State Street reports two very different and very large figures: assets under management (AUM) and assets under custody and administration (AUC/A). AUM, at around 5.6 trillion dollars in early 2026, is the money State Street actively manages for clients through its investment management arm, choosing or tracking investments on their behalf and earning management fees. AUC/A, at around 54.5 trillion dollars, is far larger and refers to assets that State Street safekeeps, settles, values and administers for other institutions, without managing them. This custody and administration business is State Street historic core, dating back to its origins as a Boston bank, and it is one of the largest such operations in the world. The key difference is that managed assets earn higher fees but are smaller, while custody assets are much larger but earn lower fees per dollar. State Street is unusual in being a giant in both businesses at once: a top-tier asset manager through State Street Global Advisors, and one of the worlds largest custodians through State Street Bank. Both figures are important to understanding the firm scale and revenue.

No, State Street is smaller than both BlackRock and Vanguard by assets under management, though all three are among the worlds largest asset managers and are often grouped together as the Big Three index managers. As of early 2026, State Street managed around 5.6 trillion dollars, compared with roughly 14 trillion at BlackRock and around 11.6 trillion at Vanguard. So State Street is the smallest of the three by AUM, and is also close to Fidelity in size. However, State Street is hugely influential despite being smaller, particularly in exchange-traded funds: its SPDR range, launched in 1993 with the first US-listed ETF, pioneered the entire ETF industry, and its SPDR S&P 500 ETF remains one of the most heavily traded funds in the world. Through its vast index-fund holdings, State Street is also a major shareholder in most large listed companies. So while it ranks third among the Big Three by managed assets, State Street remains one of the most important and influential players in global finance, and a giant in the separate business of asset custody.

Equities, meaning stocks, are by far State Street largest asset class, making up well over half of its total assets under management. As of early 2026, equities accounted for around 3.5 trillion dollars of its roughly 5.6 trillion in AUM. The remaining assets are spread across fixed income, meaning bonds, at around 756 billion dollars; cash, at around 581 billion; multi-asset strategies, which blend stocks and bonds, at around 503 billion; and alternative investments, at around 284 billion. This heavy weighting toward equities reflects State Street particular strength in equity index funds and ETFs, above all its flagship SPDR S&P 500 ETF, one of the largest and most traded funds in the world. Cash and fixed income provide steadier, lower-risk assets, while alternatives, though still small, are a growing area as the firm expands into private markets and other strategies. The dominance of equities also means State Street AUM is especially sensitive to stock-market movements, since a large share of its assets rises and falls with share prices.

State Street earns money from its assets under management mainly through management fees, which are charged as a small percentage of the assets it manages. Because State Street specialises in low-cost index funds and ETFs, these fees are very low per dollar, often just a few hundredths of a percent, but they add up across trillions of dollars in AUM. As AUM grows, whether through rising markets or new inflows, fee revenue grows with it, which is why the firm AUM trend matters so much to its earnings. This is only part of State Street overall business, however. The firm also earns large amounts from its custody and administration operations, charging fees to safekeep and service the roughly 54.5 trillion dollars in assets it holds for other institutions, and it earns net interest income from its banking activities. So while AUM-based management fees are an important and growing source of revenue, especially as ETFs expand, State Street income is more diversified than that of pure asset managers, spanning asset management, custody, and banking. This mix gives it more stable revenue but also makes it a more complex business than a typical fund manager.

State Street Corporation is based in Boston, Massachusetts, where it was originally organised in 1969 as a bank holding company, though its roots as a Boston bank go back much further. Its asset management arm, State Street Global Advisors, was established in 1978 and is now branded State Street Investment Management. The firm is led by chairman and chief executive Ronald O Hanley, and employs around 51,000 people worldwide, operating in more than 100 geographic markets. State Street is a publicly traded company, listed on the New York Stock Exchange under the ticker STT, which makes it different from Vanguard, one of its main rivals, which is owned by its own funds. The company has two main businesses: investment servicing, which is its giant custody and administration operation, and investment management, which is its asset management arm. State Street is best known among the public for its SPDR ETFs and for the Fearless Girl statue it commissioned, but within finance it is known above all as one of the worlds largest custodians and as the third of the Big Three index managers. Its scale and influence make it a quietly central institution in global markets.

SPDR ETFs are State Street range of exchange-traded funds, and they are central to its asset management business. The name SPDR, pronounced spider, stands for Standard and Poor Depositary Receipts, and the range began in 1993 with the launch of the SPDR S&P 500 ETF, known by its ticker SPY, which was the first exchange-traded fund listed in the United States. This makes State Street the pioneer of the entire ETF industry, which has since grown into a multi-trillion-dollar market. The SPDR range now spans hundreds of ETFs covering stocks, bonds, sectors, commodities such as gold, and more, and accounts for a large share of State Street assets under management, with ETF AUM of around 1.9 trillion dollars by early 2026. SPDR ETFs matter to State Street because they are a major source of both assets and fee revenue, and because they keep the firm at the forefront of the fast-growing ETF market. They also give State Street enormous influence, since funds like SPY are among the most heavily traded securities in the world. Competing with BlackRock iShares and Vanguard, SPDR remains one of the three dominant ETF brands globally.

While future AUM cannot be predicted with certainty, the broad trends behind State Street growth remain favourable. The long-running shift of investors toward low-cost index funds and ETFs continues to drive money into the kinds of products State Street specialises in, particularly its SPDR ETF range. The firm has been attracting strong net inflows, including around 144 billion dollars in 2024 and around 49 billion in just the first quarter of 2026, much of it into low-cost ETFs, which suggests continued underlying growth. At the same time, because so much of its AUM tracks markets, State Street assets will keep rising and falling with global stocks and bonds, so its AUM could dip in any year that markets fall, as it did in 2022. The estimated figure for the second quarter of 2026 points to continued growth from the first-quarter level, assuming markets hold up. Over the longer term, the combination of steady inflows, expanding ETF demand, and a gradual move into areas like active ETFs and private markets supports continued growth, even if the path remains bumpy. As one of the Big Three, State Street is well placed to benefit from the ongoing expansion of passive investing.