The biggest story this week is the scale of the US equity bid. US-focused ETFs pulled in $37.1B net over the past seven days. That dwarfs every other geography. The flow imbalance reading of 66.9 confirms buying pressure is dominant, not just gross volume.
Japan was the clear second choice. It added $6.4B in net inflows over the week. That continues a strong three-month trend, where Japan ETFs have attracted $67.7B — the third largest geography by 3m flows behind the US ($389.5B) and Global ($96.4B).
Emerging Markets pulled in $1.6B this week. The flow imbalance hit 79.3, one of the highest readings across all geographies. That points to concentrated, conviction buying rather than passive rebalancing. Over three months, EM has gathered $18.9B.
The notable reversal is South Korea. It was one of the strongest 3m inflows at $38.2B. This past week it flipped to a $1.2B outflow, with a flow imbalance of just 29.9 — strong selling pressure. That is the clearest trend shift in the geography data. Latin America also bled $171M this week, with a near-zero flow imbalance of 0.2 — essentially a pure outflow with almost no offsetting buying.
Financials took the biggest hit this week. It posted a $2.7B net outflow. The flow imbalance dropped to 18 — one of the most bearish readings in the dataset. Over three months, Financials was comfortably in inflow at $3.7B. That is a sharp reversal in just one week.
Energy flipped the other way. It attracted $515M this week. But over three months, Energy was a $6.1B net outflow. Buyers are returning after a period of sustained selling.
Industrials held steady in both timeframes — $207M in 1w, $5.4B over 3m. Information Technology was nearly flat on the week ($89M net) despite massive gross flows of almost $9B in each direction. Over three months, Tech dominated with $58.3B in sector inflows, the largest by far.
Equities led all asset classes. They drew $57.6B in net flows this week alone. Fixed Income added $18.1B. Commodities brought in $7B with a high imbalance score of 83.3 — a clear buying skew. That contrasts sharply with the 3m picture, where Commodities was a $24.9B outflow.
Currency ETFs are another reversal story. They added $2.4B this week. Over three months they were a $2.8B outflow.
On strategy, Active management continues to attract capital. It pulled in $12.5B this week, with a flow imbalance of 76. Over three months, Active has gathered $221.5B — second only to Vanilla passive at $368.7B. Price-weighted strategies saw $2.8B in outflows this week despite being $11.6B positive over three months.
The overall tone is clearly risk-on. Equities, Commodities, and Active strategies are all drawing fresh capital. The week's main caution signals are Financials and South Korea, both of which are reversing multi-month inflow trends.
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.
