Tech ETFs shed $5.7B in a single week. That is the sharpest sector outflow on record in this data set. Over three months, the same sector pulled in $68.6B — making the weekly reversal a clear and meaningful shift in sentiment.
The week's single biggest story is a rotation away from Information Technology. The flow imbalance dropped to 36.2, deep into selling territory. Health Care absorbed some of that capital. It drew $1.1B in the past week, with a flow imbalance of 64 — firmly in buying territory. Energy followed with $583M in fresh inflows.
The U.S. led all geographies over both periods. It drew $7.0B in the past week. Over three months it has pulled in $481.8B — far larger than any other region.
Japan was the week's second-biggest destination. It attracted $6.4B, with a flow imbalance of 70. Over three months Japan has seen $156.3B in net inflows. The trend is consistent and strong.
China is this week's notable reversal. It bled $3.0B in the past week — a dramatic shift from near-neutral over three months, where net flows were only -$857M. The weekly flow imbalance for China sat at 41.9, indicating accelerating outflows. South Korea also lost $1.0B on the week, despite a strong $32.6B net inflow over the prior three months. Emerging Markets ex-China and Taiwan both remained in positive flow territory across both timeframes.
The weekly versus three-month divergence in sectors is striking. Over three months, Tech dominated with $68.6B in net inflows. This week it recorded the largest sector outflow in the dataset at -$5.7B.
Energy reversed the opposite way. It was a clear loser over three months at -$4.3B. This week it gained $583M. Consumer Staples also attracted $405M in weekly inflows, signalling some defensive rotation alongside the tech selling.
Financials lost $411M on the week despite positive three-month flows of $2.5B — another sign of near-term risk reduction. Industrials held steadier, posting $299M in weekly inflows and $3.4B over three months.
Equities dominated in absolute terms. They pulled in a net $22.0B over the week. Fixed Income added $8.2B. Commodities were the only major asset class with meaningful outflows at -$3.1B on the week and -$31.7B over three months.
The most significant strategy story is the growth-to-active shift. Growth ETFs were a strong performer over three months with $103.5B in inflows. This week they flipped to -$2.1B in outflows, a flow imbalance of just 24.8. Active strategies gained $10.2B in the same week. Their three-month inflow of $225.2B trails only vanilla passive products.
Value strategies remain consistently unloved — negative over both the week and three-month periods.
The overall tone is cautiously risk-on. Money is still flowing into equities and fixed income. But the sharp tech selldown and defensive rotation into Health Care, Staples, and Active funds suggest investors are trimming concentrated positions rather than abandoning risk altogether.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
