US-focused ETFs dominated this week. They pulled in a net $28.1B over the past seven days. That is far ahead of every other geography. The flow imbalance sits at 67.8 — firmly in buying-pressure territory. Over three months, US funds attracted $356B. The momentum is consistent and shows no sign of slowing.
The clearest reversal story this week is Japan. Over three months, Japan pulled in $72.1B — a top-three geography. This week it bled $6.4B, with a flow imbalance of just 35.7. That signals sellers are in control. China mirrored that pattern. It attracted $20.9B over three months but lost $5.1B this week. The imbalance collapsed to 27.5 — deep into selling territory. Both reversals suggest investors are trimming recent gains in Asian allocations.
Emerging Markets held up better. A $1.8B inflow this week came with an imbalance of 86.1 — one of the strongest readings anywhere. The three-month trend also shows solid inflows of $18.4B. Developed Europe added $968M this week with balanced conditions.
Tech took the biggest hit. Information Technology saw a $2.0B outflow this week. The imbalance of 41.6 signals more selling than buying. That is a notable contrast to the three-month picture, where IT attracted $57.3B — by far the most of any sector. Financials also turned negative this week, losing $1.3B after pulling in $4.0B over three months.
Defensives did not escape either. Consumer Staples shed $596M this week. Industrials lost $423M. Both reversed their positive three-month trends.
Health Care was the standout winner this week. It gained $164M with a balanced imbalance of 55.1. Over three months, it attracted $7.2B. Energy added $86M this week after three months of $5.3B in outflows — a possible early reversal signal worth watching. Real Estate also flipped, generating $5.1B over three months but losing $63M this week.
Fixed Income shone this week. It attracted $14.7B with a strong imbalance of 74.8. That is proportionally large relative to Equity's $26.0B inflow. Over three months, bonds gathered $243.5B versus Equity's $710B — but the weekly data suggests bonds are gaining relative ground. Commodities picked up $2.5B this week, reversing a $30.4B three-month outflow. That is the sharpest trend flip in the asset class data.
Active strategies pulled $5.3B this week with an imbalance of 68.3. Their three-month draw of $216.8B far outpaced any other strategy. Value ETFs attracted $2.0B this week with an imbalance of 87.5 — the highest reading in the strategy group. ESG went slightly negative this week after $14.4B of three-month inflows. Passive Vanilla funds remain the largest absolute flow category but are losing ground to active and value approaches.
Overall, the week carries a cautious tone. Investors rotated from recent winners — Japan, China, Tech, Financials — toward bonds, US equities, and value strategies. The risk appetite remains present but is becoming more selective.
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.
