US equity ETFs pulled in $39.2B net this week. That is the single largest geographic inflow by a wide margin. The flow imbalance sits at 71.3 — firmly in buying-pressure territory. Over three months, US-focused funds have attracted $391.7B net. The dominance is consistent and shows no sign of fading.
Japan ranked second for the week with $4.8B net inflow. Global and Emerging Markets added $3.6B and $1.5B respectively. The standout divergence is South Korea, which flipped sharply negative this week at -$1.1B. Over three months it was a strong receiver of $38.3B. That reversal is worth watching. Latin America and Israel also saw net outflows on the week, with flow imbalances of just 0.2 and 11.3 respectively — heavy selling pressure in both. Hong Kong carries the biggest 3m wound: -$12.5B over the quarter, with a flow imbalance of just 33.5 over 3 months.
Financials took the biggest sector hit this week. The sector bled -$2.4B net, with a flow imbalance of just 18 — aggressive selling pressure. Over three months, Financials had been a net receiver of $3.96B. That is a meaningful one-week reversal. Consumer Discretionary also shed -$378M this week. Energy and IT were the week's sector winners. Energy gained $277M. IT added $358M, despite enormous gross flows of nearly $8B in and $7.6B out — signalling active repositioning within the sector. Over three months, IT leads all sectors by far at +$58.5B net, while Energy was actually negative at -$6.5B over 3 months. Energy is the clearest trend shift: bleeding over the quarter but attracting buyers this week.
Equities dominated across both timeframes. This week equities pulled in $55.2B net. Fixed income added $14.1B. Commodities were a strong gainer at +$5.1B with an 80 flow imbalance — notable contrast to the 3-month picture where commodities were deeply negative at -$27B. That is the sharpest asset class reversal in the data. Currency ETFs also flipped: +$1.3B this week vs -$4B over three months. On strategy, passive Vanilla funds led with $40.1B net this week. Active ETFs were the second-largest draw at $9.5B, with a 76.6 imbalance. Over three months, active strategies attracted $219.8B — far outpacing other approaches on a relative basis. Dividend strategies held steady at +$589M weekly and +$17.2B over the quarter. Price-weighted funds reversed sharply: -$2.9B this week vs +$11.2B over three months.
Overall, the tone is clearly risk-on. Equities and US markets lead. The notable stories are the commodity rebound, active fund momentum, and the sudden reversal in Financials and South Korea.
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.
