Information Technology ETFs shed $3.1B in net outflows this week. That is the sharpest single-sector reversal of the week. Over three months, the same sector pulled in $78B — the gap reveals a sharp short-term retrenchment.
The broader picture is risk-on, but with notable caveats. Equities absorbed $43B in net inflows over the past week. Fixed income was not far behind at $22B. Both asset classes are running hot over three months too — equities at $835B and bonds at $243B. Investors are not choosing between the two right now. They are buying both.
The U.S. led geography inflows at $19.2B over the week, with a flow imbalance of 56.6 — mild buying pressure but nothing extreme. Japan was the real standout. It attracted $8.2B in net inflows, with an imbalance of 71.2, signaling strong conviction from institutional buyers. Over three months, Japan has pulled in $163B, second only to the U.S. at $383B.
Emerging Markets drew $2.8B this week, with an imbalance of 88.3 — one of the highest readings across all geographies. Taiwan added $2.1B at 77.8. Both are consistent with the three-month trend.
China flipped negative. It posted a $2.4B outflow this week despite a flow imbalance of just 43.1, meaning sellers dominated. Over three months China still shows a positive $17.9B — but the weekly reversal is a clear trend break worth watching. Hong Kong was even weaker, with a $992M outflow and an imbalance of just 21.2.
Industrials pulled in $1.15B this week. Health Care added $746M. Consumer Discretionary gained $702M. All three posted positive imbalances above 65.
Energy scraped in a $139M net inflow this week. That figure looks weak against a $7.3B outflow over three months — the worst sector for the full period. The one-week number barely registers as a stabilisation.
Consumer Staples lost $146M this week. Materials also shed $178M. Both are defensive names struggling to attract capital in the current environment.
Fixed income posted its strongest week-on-three-month ratio of any asset class. Its $22B weekly inflow represents roughly 9% of the three-month total of $243B — a late acceleration. Commodities drew $708M this week, a notable shift from a $31B three-month outflow. That reversal is one of the clearest trend changes in the data.
Vanilla passive strategies dominated at $24.2B. Active ETFs added $6.1B with a strong 71.2 imbalance. Over three months, active strategies have gathered $225B — nearly half the vanilla total — showing the active ETF trend is intact.
Dividends reversed sharply. They saw $1.3B in outflows this week after pulling in $15.7B over three months. Momentum strategies also went negative at -$485M this week, against a $5.8B three-month gain.
The overall tone is cautiously risk-on. Equities and bonds are both attracting capital. The key shift this week is money rotating out of Tech and dividends and into Industrials, Health Care, Japan, and active strategies.
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.
