US-listed ETFs pulled in $37B net in the past week alone. That tops every other geography by a wide margin. The flow imbalance sits at 70.5, a clear buying-pressure signal. Over three months, the US haul reaches $373B, confirming a durable trend rather than a short-term spike.
Japan is the standout story beyond the US. It attracted $12.4B in net inflows this week. Its flow imbalance of 81.1 signals strong buying pressure. The three-month figure of $158B backs that up. Institutional money is rotating into Japanese equities with real conviction across both timeframes.
China drew $6.4B this week, but the three-month picture is far more muted at just $5.9B. The week-to-month gap suggests a burst of short-term positioning rather than a structural allocation shift. Taiwan added $1.3B this week and $20.7B over three months, consistent with ongoing semiconductor demand narratives.
Hong Kong stands out as the key regional loser. It bled $729M this week and $9B over three months. Its flow imbalance of 36.9 shows persistent selling pressure. India flipped negative this week at -$319M, a notable reversal from its roughly balanced three-month reading.
Information Technology leads all sectors with $2.4B in net weekly inflows. However, its flow imbalance is only 55.3 — barely above neutral. That means gross flows are large but largely offsetting each other. The three-month haul is massive at $66.5B, but the weekly pace has slowed.
Financials took in $1.1B this week. Consumer Discretionary added $607M. Both show stronger weekly imbalance readings than Tech. Energy is losing ground on both timeframes: -$198M this week and -$4.4B over three months. Communication Services is also in the red this week at -$134M.
Materials saw $424M of inflows this week. Over three months, it posted a -$793M net loss. That is a meaningful reversal. Money is moving back in after a period of outflows.
Equities dominate. They pulled in $66.8B net this week, roughly 7x the $9.8B that went into Fixed Income. Over three months, the gap narrows: $783B into equities versus $233B into bonds. Bond buying has been steadier; the weekly pace of equity inflows is accelerating.
Commodities tell a stark story. They drew $855M this week, a positive number. But over three months, they posted a -$31B net outflow. Short-term buyers may be fishing for a bottom.
On strategy, Active management pulled in $6.8B this week with a 71.4 imbalance. Over three months, Active gathered $229B — second only to Vanilla passive flows. ESG is clearly under pressure. It lost $664M this week against a three-month net gain of $8.6B. The imbalance this week is just 42.6, pointing to net selling. Price-weighted strategies also bled $1.8B this week, despite a positive three-month reading.
Overall, the picture is firmly risk-on. Equities are winning over bonds. The US and Japan are the preferred destinations. ESG and Energy are the clear losers of the week.
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.
