US equity ETFs pulled in $36.3B last week. That dwarfs every other geography. The flow imbalance reading of 71.7 confirms strong, one-sided buying pressure. Over three months, the US lead holds firm at $382B net inflow — the broadest and most consistent destination for institutional cash right now.
Japan flipped sharply. Over three months, Japan attracted $81.3B in net inflows. This week, it bled $3.9B — the worst single-week geography outflow in the data. South Korea told a similar story. It pulled in $38.9B over three months but shed $1.2B this week. Both reversals suggest profit-taking after a strong run in Asian developed markets.
Emerging markets bucked that trend. EM drew $2.1B this week, with a flow imbalance of 88.2 — near peak buying pressure. China added $1.5B on the week. Over three months, China has attracted $28.3B total. Developed Europe gained $1.0B this week and remains in positive territory on a three-month basis too.
Brazil and Latin America stayed firmly in outflow territory on both timeframes.
Financials and Technology are bleeding money right now. Financials lost $1.5B this week — the biggest sector outflow. Tech shed $1.2B. Over three months, those same two sectors were the biggest receivers: Tech led with $57.1B and Financials added $5.1B. The weekly reversal in both is a notable rotation signal.
Energy and Industrials are picking up the slack. Energy gained $72M this week after losing $6.5B over three months — a clear reversal. Industrials added $51M this week and $5.1B over the quarter. Health Care saw $49M in weekly inflows and $7.0B over three months. Defensive and real-economy names are attracting fresh money.
Every major asset class recorded inflows this week. Equities led with $42.6B. Fixed Income added $13.6B — a strong showing that signals demand for safety alongside equities. Commodities pulled in $4.2B this week. Over three months, commodities were a $28.5B outflow. That is a sharp reversal worth watching.
Currencies flipped too. Currency ETFs drew $398M this week after losing $4.8B over three months.
On strategy, Vanilla passive ETFs dominated with $32.8B this week. Active strategies added $7.0B — the second-largest weekly inflow. Over three months, active funds have taken in $217B, representing 58% of the largest flow. Price-weighted strategies bled $7.0B this week — a stark contrast to their $11.2B three-month gain. Value strategies gained $1.4B this week.
The overall tone is risk-on but selective: money is flowing into equities and bonds simultaneously, while rotation away from Tech and Financials towards Energy and Industrials points to a defensively cautious tilt within the risk-on environment.
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.
