Japan is this week's standout. $75.5B left Japanese ETFs in the past seven days. That is the single largest geographic outflow by a wide margin. Over three months, Japan had attracted $77.9B in net inflows. The reversal is sharp and complete.
US-focused ETFs absorbed $41.3B in net inflows this week. Flow imbalance sits at 67.4 — firmly in buying-pressure territory. Over three months, the US has pulled in $354B, the largest geography total by far. That trend holds.
China shed $5.4B this week. Flow imbalance dropped to 27.7, indicating heavy selling pressure. Over three months China still shows $21.2B in net inflows — but weekly momentum has turned negative. Hong Kong echoes the pattern. It lost $703M this week and $10.9B over three months.
Emerging Markets attracted $2.1B this week, with a flow imbalance of 81.7 — one of the highest readings across all categories. Global Ex-US ETFs posted a 97.7 imbalance, meaning nearly all money coming in stayed in. Developed Europe scraped a small positive $711M, though the imbalance of 62.5 is barely constructive.
Brazil saw a 7.9 flow imbalance this week — almost entirely outflows. The UK, Canada, and Taiwan also bled money over the past seven days despite holding positive three-month balances.
Materials was the only sector drawing significant net inflows this week, pulling in $1.75B. Every other major sector saw net outflows. Information Technology bled $1.2B in just seven days. That is a stark reversal — over three months, Tech attracted $63.3B, the biggest sector haul by far.
Financials lost $827M this week after banking $3.8B over three months. Industrials dropped $420M this week despite $4.4B in three-month inflows. Health Care shed $340M. The pattern is consistent: last quarter's winners are now seeing profit-taking.
Real Estate bucked the trend. It attracted $185M this week and $5.3B over three months. That consistency signals genuine demand, likely linked to falling rate expectations.
Fixed Income is the clearest safe-haven signal. Bonds took in $17.9B this week with a 70.0 imbalance. Over three months, Fixed Income gathered $241.9B — a sustained and growing trend. Equity ETFs posted a net outflow of $23.7B this week. Over three months, equities are still up $710.8B, but the weekly turn is notable.
Commodities attracted $2.8B this week but lost $30.4B over three months. The short-term bounce has not reversed the broader trend.
Active management is the strategy standout. Active ETFs drew $11.5B this week with an 80.8 imbalance. Over three months, Active strategies collected $211B. Vanilla passive saw $50.8B in outflows this week. Value ETFs gathered $2.4B with an imbalance of 86.9 — the strongest buying signal in the strategy group.
The overall tone is risk-off. Money is rotating out of equities, Japan, and Tech into bonds, active strategies, and value — a classic late-cycle defensive shift.
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.
